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Topic: Genesis Mining getting too powerful for scrypt? - page 2. (Read 2823 times)

legendary
Activity: 910
Merit: 1000
Hey Guys,

I know from trustworthy sources that Genesis mining (www.genesis-mining.com) are selling in record numbers at the moment due to their extreme low prices and upgrade their farm more and more! If you read their posts and do some research they already had gigahashes of scrypt at the very beginning of this year when it was impressive to have > 10 MH/s with GPUs!

Could that be a threat to Altcoin world? What do you say?

I don't think it would be in Genesis Minings interest to to be a threat.

From what I gather, they are all mining enthusiasts and love the community and wanted to give something to the mining community.

Last thing they would want to be is a threat.

I am a customer of them and am loving the fact that I don't have to have my mining computer on anymore.

If they are growing and are doing good, great for them, at least I know that financially, they are doing ok Smiley
newbie
Activity: 22
Merit: 0
I'd have to agree there is more and more of these popping up half of them I dont even have scrypt farms and are more or less pyramid schemes.

Yes, it could be really true that some are fake. Anyway regarding Genesis Mining I am pretty sure they are serious.
They already posted their massive GPU farm back in march and probably have expanded this with much more asics (https://bitcointalksearch.org/topic/m.5627422)
I am really excited how this will continue!
legendary
Activity: 1890
Merit: 1058
Vave.com - Crypto Casino
I'd have to agree there is more and more of these popping up half of them I dont even have scrypt farms and are more or less pyramid schemes.
hero member
Activity: 657
Merit: 500
MΣC
scrypt.cc also has tremendous amounts of scrypt hashing power online, perhaps even more, and more to come. 700Ghs currently, though my math skills are terrible. On top of that, there are several multipools active with lots of hashrate, and asics are being rolled out. No worry that one cloud might rule them all. Besides, there are more scryptcoins so any bitcoin (one network only) scenario is less likely.
sr. member
Activity: 350
Merit: 250
Hey Guys,

I know from trustworthy sources that Genesis mining (www.genesis-mining.com) are selling in record numbers at the moment due to their extreme low prices and upgrade their farm more and more! If you read their posts and do some research they already had gigahashes of scrypt at the very beginning of this year when it was impressive to have > 10 MH/s with GPUs!

Could that be a threat to Altcoin world? What do you say?

Is there even any evidence that they are mining at all?  I haven't really looked into it too much but I saw no evidence on their site of any actual mining equipment, plus they don't let you mine anything, just on their own pools.  I'm not convinced they are mining at all and aren't just taking payments, and then calculating what payouts would be if they did mine.  
newbie
Activity: 22
Merit: 0
Hey Guys,

I know from trustworthy sources that Genesis mining (www.genesis-mining.com) are selling in record numbers at the moment due to their extreme low prices and upgrade their farm more and more! If you read their posts and do some research they already had gigahashes of scrypt at the very beginning of this year when it was impressive to have > 10 MH/s with GPUs!

Could that be a threat to Altcoin world? What do you say?
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