Genesis Mining getting too powerful for scrypt? - page 2.

IanFoxley

legendary

Activity: 910

Merit: 1000

Quote from: jimmy2k on May 30, 2014, 11:56:10 AM

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

jimmy2k

newbie

Activity: 22

Merit: 0

Quote from: Maidak on May 30, 2014, 05:40:28 PM

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!

Maidak

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.

Mike18feb

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.

brian_23452

sr. member

Activity: 350

Merit: 250

Quote from: jimmy2k on May 30, 2014, 11:56:10 AM

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.

jimmy2k

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?

Topic: Genesis Mining getting too powerful for scrypt? - page 2. (Read 2832 times)