Genesis Mining vs GAW Mining, Spondoolies, Hashnest and Mining Sweden updates

[sainf]

Why I say genesis is fud because the time I have spent with them they say they are late with payments zen miner is also and they seem to be down at the same time. I suspect genesis is mining on zen pool and taking the profits for themselves. and you say they open book?

[TheBeardedMann]

Would you consider comparing it to http://www.barwickmining.com ?  New startup, but sounds like a good return.

I'm looking into purchasing more MH/s, I currently have 2 MH/s with BarwickMining and am very happy, but I like to see some comparisons.

[IanFoxley]

Day 24 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/aik4063wbOY

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013335 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00013450 BTC

Genesis Mining 1 MH/s contract    0.00026755 BTC
GAW Waffle Hashlet                    0.00015989 BTC
GAW Zen Hashlet                         0.00046002 BTC

[IanFoxley]

Would you consider comparing it to http://www.barwickmining.com ?  New startup, but sounds like a good return.

I'm looking into purchasing more MH/s, I currently have 2 MH/s with BarwickMining and am very happy, but I like to see some comparisons.

I will check it out

[TheBeardedMann]

Would you consider comparing it to http://www.barwickmining.com ?  New startup, but sounds like a good return.

I'm looking into purchasing more MH/s, I currently have 2 MH/s with BarwickMining and am very happy, but I like to see some comparisons.

I will check it out

Thanks.  Forgot to add the topic link: https://bitcointalk.org/index.php?topic=809720.0

[IanFoxley]

Would you consider comparing it to http://www.barwickmining.com ?  New startup, but sounds like a good return.

I'm looking into purchasing more MH/s, I currently have 2 MH/s with BarwickMining and am very happy, but I like to see some comparisons.

I will check it out

Thanks.  Forgot to add the topic link: https://bitcointalk.org/index.php?topic=809720.0

No problem, I have purchased 1MH/s to try and hopefully will try and incorporate them into my current video or will do a new one just based on daily payouts with BarwickMining

[IanFoxley]

Edit: I have removed video as Barwick Mining has ceased trading.

I have been refunded all my money I had paid and also I had my first daily payment, earlier than normal.

[IanFoxley]

Day 25 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/XWgcJE54W8c

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013402 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00014371 BTC

Genesis Mining 1 MH/s contract    0.00022544 BTC
GAW Waffle Hashlet                    0.00023010 BTC
GAW Zen Hashlet                         0.00038133 BTC

Ian

[IanFoxley]

Day 26 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/jpyBLDnL29o

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013532 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00015348 BTC

Genesis Mining 1 MH/s contract    0.00025290 BTC
GAW Waffle Hashlet                   0.00019819 BTC
GAW Zen Hashlet                         0.00049163 BTC

Edit: Updated Payouts here as had accidently had pasted Day 25s payouts instead again.

[sainf]

anyone want to buy my genesis acc. really if it carries on like this i will give it away. Its pathetic.

[IanFoxley]

anyone want to buy my genesis acc. really if it carries on like this i will give it away. Its pathetic.

Well, unfortunately for me, I have a multi-hashlet which had a negative payout yesterday as the payout was less then the service fees.

Glad they are going to sort that out though.

https://hashtalk.org/topic/10734/multihashlet/53

[IanFoxley]

Day 27 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/FtIADC5ZI8o

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013422 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00014231 BTC

Genesis Mining 1 MH/s contract    0.00026559 BTC
GAW Waffle Hashlet                   0.00012285 BTC
GAW Zen Hashlet                         0.00041491 BTC

[IanFoxley]

Day 28 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/1ADIAHHPU1g

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013365 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00015221 BTC

Genesis Mining 1 MH/s contract    0.00024939 BTC
GAW Waffle Hashlet                   0.00019838 BTC
GAW Zen Hashlet                         0.00041353 BTC

Ian

[IanFoxley]

Day 29 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/6SgbLxnTqao

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013373 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00015928 BTC

Genesis Mining 1 MH/s contract    0.00024567 BTC
GAW Waffle Hashlet                   0.00010892 BTC
GAW Zen Hashlet                         0.00048050 BTC

[IanFoxley]

SHA 256 10 GH/s Prices on Genesis Mining are now 8.79 USD from 9.99

Ian

[cat2]

I've been buying zen hashlets and scrypt MH/s from genesis since the beginning of October and so far the zen hashlets (plus 1 prime hashlet) are paying double what genesis scrypt mining is paying. I keep splitting between the 2 because I'm worried that zen is to good to be true and not comfortable with all my eggs in 1 basket but wonder if gaw manufacturing their own hardware gives them a big advantage. But double the payout? At 2x the payout buying mostly zen hashlets is very tempting.

[Mike18feb]

The "double" payout is unnatural. I can imagine tricks and stuff ensuring better mining rewards. But doubling simply, does not exist. Same as wafflehashlets and Multi's and whatnot are supposed to mining in those pools, but no such pools is used. All miners are mining in one and the same (Zen)pool. But when it comes to pay out, reward for clever, waffle and multi is (a lot) lower then their shares have mined, so what is mined but not paid out, stays in the Zenpool and becomes part of the Zen Payout, upping the payout for the Zen owners. Technically speaking, Waffle, Clever and Multi owners are subsidizing Zen Hashlets owners.

That's just one thought.

The other thought is that GAW actually sticks money into Zenpool to ensure the highest payout so customers will sign up and spent money on GAW. And apparently it's worth it. More money comes in then goes out = profit for GAW & profit for hashlet owners.

So, in a way Zen is not too good to be true as it's backed by profit. It's just that not all earnings are paid from straightforward mining, like Genesis Mining does.

Tempting yes, dangerous, not so, but you cannot build the fastest sports scar on lightweight aluminium parts only. You need to shop around for other parts as well to keep it from falling apart.


Part of my odd views on things

[Pilotseye]

I guess it doesn't need more than this comment to understand how GAWs sales policy is working https://hashtalk.org/topic/11600/zencloud-bug-fixes/170  

[IanFoxley]

Seems it is all a bit of a mess with the Zen Portal today.

Genesis Mining interface is correctly displaying the transactions now, but Zen Portal is down due the Hashlet Prime problems in the last few hours.

So until it comes back up, can do no videos, hopefully it will be back up soon.

Ian

[Pilotseye]

Seems it is all a bit of a mess with the Zen Portal today.

Genesis Mining interface is correctly displaying the transactions now, but Zen Portal is down due the Hashlet Prime problems in the last few hours.

So until it comes back up, can do no videos, hopefully it will be back up soon.

Ian

Sorry to disappoint you, but it seems that their service will not be available for the next 5-7 hours
https://hashtalk.org/topic/11695/zencloud-maintenance-mode