Topic: Genesis Mining vs GAW Mining, Spondoolies, Hashnest and Mining Sweden updates (Read 57584 times)

Here is the Payout info for Mining Day 26.07.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Bitcoin hashrate seems to be currently at the same level in May now, still over a week to go before the change. Hopefully the downward trend will continue.

Hashnest Payouts

Payouts based on 18 blocks found.   Even worse than yesterday, perhaps the hashrate that has been going down was removed from Antpool so they are finding less blocks than other pools now.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00000090 BTC     90 Satoshis today, so not a good payout at all for Hashnest and the Antpool.

Will update the GM payouts when they arrive. Normally arriving very late at the moment during the day.

Here is the Payout info for Mining Day 25.07.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Hashnest Payouts

Payouts based on 22 blocks found.   So below average, hence the low payout.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00000712 BTC  


Edit: Finally updated the GM payouts.


Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0......   No payout.  Will be terminated soon unless BTC price rises and does not seem that will happen.

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0....  No payout.   Will be terminated soon unless BTC price rises and does not seem that will happen.

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0...... No payout.  Will be terminated soon unless BTC price rises and does not seem that will happen.

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0.00001481 Payout based on  payouts that are stored and then only paid to wallet when over 1000 satoshi.
 
Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00001792 BTC    

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002676 BTC    Remember this is based on most profitable X11 coin being mined and paid to BTC.

X11 contract display is buggy. Interface shows only payouts up to Mining Day 20.07.2016, so if yours is the same, then do not assume that Genesis Mining is not paying you, check your wallet or place where you get your payouts sent to and you should find that they are there as normal.

Bitcoin network hashrate is starting to fall, not sure by how much or for how long.

As always can check it here.
https://bitcoinwisdom.com/bitcoin/difficulty

8 days or so till the next change so this change will come too late for some of my contracts though. Some of my contracts stopped paying from the halving and it will not be long now when the '20 days of no payouts term' in the contracts takes effect.

 Also at time of writing Genesis Mining had problems with logins on their website.

But as you do not need to log in to get payouts, then just check your wallets as normal and things should be ok, hopefully.

Anyway here are the payouts for Mining Day 23.07.2016

Hashnest Payouts

Payouts based on 20 blocks found.   Not a good day for finding blocks on Antpool, so this is why payout is just above maintenance fee today.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00000211 BTC  

Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0......   No payout.  Will be terminated soon unless BTC price rises and does not seem that will happen.

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0....  No payout.   Will be terminated soon unless BTC price rises and does not seem that will happen.

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0...... No payout.  Will be terminated soon unless BTC price rises and does not seem that will happen.

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0...... No Payout to wallet. As I can not check my web account to see if there was a small payout that is being stored there, then at the moment i have no idea. Will update when I find out.

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00001776 BTC    

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002944 BTC    Remember this is based on most profitable X11 coin being mined and paid to BTC


So another day where Hashnest payouts are poor due to bad luck on the Antpool.

Now for today's payouts, based on Mining Day 24.07.2016

Only have hashnests payouts for now as Genesis Minings payout can come anytime.

Better payout for Hashnest today as had better luck on Antpool.

Hashnest

Payouts based on 26 blocks found on Antpool.

Will update with Genesis Mining later

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00001967 BTC  


Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0......   No payout.  Will be terminated soon unless BTC price rises and does not seem that will happen.

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0....  No payout.   Will be terminated soon unless BTC price rises and does not seem that will happen.

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0...... No payout.  Will be terminated soon unless BTC price rises and does not seem that will happen.

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0...... No Payout to wallet. As I can not check my web account to see if there was a small payout that is being stored there, then at the moment i have no idea. Will update when I find out.

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00001775 BTC    

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002605 BTC    Remember this is based on most profitable X11 coin being mined and paid to BTC

Typical that just as I wrote about the difficulty decreasing and might be a negative it picked itself up again and then became a positive, although a very small one. 0.04%

As always you can keep track of what the next difficulty change could be by going to https://bitcoinwisdom.com/bitcoin/difficulty

Here is the Payout info for Mining Day 19.07.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Hashnest Payouts

Payouts based on 26 blocks found.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00001128 BTC   

Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0......   No payout.

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0....  No payout.

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0...... No payout.

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0.00001293  This payout is based on two days payouts, the previous days payout of 668 satoshi was stored and then added to the payout today. The payout today would have been 625 satoshis as when you add them together you get 1293 satoshis.  Genesis Mining only pay out when the amount of satoshi is 1000 satoshi or more. Once again imagine if you were a provider that only allows you to manually withdraw and at a set limit. It would take ages for your payouts to reach that level and even when they did, you would then end up with nothing as the fee had just taken it.

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00001879 BTC   

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002641 BTC    Remember this is based on most profitable X11 coin being mined and paid to BTC

So out of SHA 256, the best paying contract for that mining day was the Genesis Mining with the eqv maintenance fee of 40 US cents per TH/s.
The Hashnest S7 contract is based on a maintenance fee eqv to 60 US Cents per TH/s

But on somedays if Antpool has a good day finding blocks then the payout can be better than GM and on somedays it is less.

Posted payout info for Mining Day 13.07.2016 and Mining Day 14.07.2016

Not a good day for Hashnest on Mining Day 13.07.2016

Only good news i can see is that it looks like the total Mining Hashrate for Bitcoin Mining has been going down since yesterday, so the next difficulty change in the next 4 days could be a negative which is good for mining returns, unless Bitcoin price also drops down more as well.

At the time of writing the hashrate according to bitcoinwisdom has gone back to the same level in late May.

Unfortunately I do not think it it will save some of Genesis Minings contracts though but I would recommend any of you to go here and keep an eye on the situation.

https://bitcoinwisdom.com/bitcoin/difficulty


Payout info for Mining Day 13.07.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Hashnest Payouts

Payouts based on 20 blocks found.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s  - 0.00000025 BTC   Not a good day on the Antpool. The amount of blocks found was just 20 so this has meant that the amount you got paid for 24hours ended up being lower than the maintenance fee, hence the minus payout


Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0......   No payout.

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0....  No payout.

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0...... No payout.

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0.00002005  This payout includes the stored payouts from the previous days.

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00001802 BTC    

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002601 BTC    Remember this is based on most profitable X11 coin being mined and paid to BTC



Payout info for Mining Day 14.07.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Hashnest Payouts

Payouts based on 24 blocks found.  Slightly better day for Antpool.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00000446 BTC  

Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0......   No payout.

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0....  No payout.

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0...... No payout.

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0.00000000  No payout but amount of 0.00000522 BTC was stored until payouts reach 1000 satoshi or 0.00001 BTC

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00001801 BTC    

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002077 BTC    Remember this is based on most profitable X11 coin being mined and paid to BTC

The Mining Sweden website is back up and running again and Tommy has updated the news with this.


This was updated on the 12th July.

Hello,

As you all know the halving has occurred and as you probably also know KNC has closed down their operation in Sweden due to that it is not profitable to mine bitcoin in Sweden anymore. The cost is to high and if we would continue with the miners we would need to file for bankruptcy but since we closed down miners we don’t have any cost for them only to get the payouts that has been processed in your accounts.

These accumulated payouts will be paid in time to you as we can start generating income from other solutions to cover your accumulated payouts but from today there will be no more accumulations to any accounts.

I´m really sorry for this but Bitcoin mining is not easy and the high difficulty makes it impossible to continue running the mining operation. If you understand how mining works you will see this.

With regards
Tommy

Payout info for Mining Day 12.07.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Hashnest Payouts

Payouts based on 33 blocks found.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00001870 BTC


Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0......   No payout.

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0....  No payout.

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0...... No payout.

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0.......No Payout but 0.00000527  was saved until the minimum withdraw amount, Minimal amount GM will autopay out is 1000 satoshi.

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00001800 BTC     A payout but very small, if difficulty keeps rising and BTC price does not within a month or two this contract will be gone also.

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002451 BTC    Remember this is based on most profitable X11 coin being mined and paid to BTC.

Just to update the news about Mining Sweden.

Looks like tommy has turned off the site now.

Well the halving has come and gone now, a few days ago in fact but now that a few days has passed, I am going to post the payouts now so you can see what the effect of the halving has had with my Genesis Mining and Hashnest contracts.

The news is not good as predicted so unless Bitcon price rises or difficulty drops or both, then alot of my Genesis Mining contracts will be terminating within the next few weeks.

My Hashnest contract which was left, remember I did have lots once, but they all died off and the only one left now is the S7 contract is still paying out but the payouts on that have lowered also. Hashnet do not seem to be wanting to update its site with options for S9 mining at the moment either so if the S7 contracts die then unless Hashnest offers anything else apart from SHA 256, then how can it carry on operating as a site when it doesnt actually have any mining contracts left, so at some point they must start to offer S9, if not they will close, perhaps that is Bitmains agenda. No idea.


Currently at the moment with current difficulty and BTC price, a typical miner mining at 1TH/s will mine on average around 77 cents worth of Bitcoin each day, so any mining contract that charges more than that for maintenance is not going to be paying out now.

Before the halving it was over 1.50 USD, so the halving affected things alot.

Anyway on with the payouts.

These are the payouts for yesterday which would be for Mining Day 10.07.2016

Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0......   No payout, this is because the maintenance fee would be 1.20 USD per TH/s and you can now only get about 77 cents worth of BTC a day. SO you can see, that this is not profitable now

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0....  No payout. this is because the maintenance fee is eqv to 0.99 USD per TH/s and again, the fee is more than what you get mining.

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0...... No payout, this is because the maintenance fee is eqv to 0.88 USD per TH/s and like the others above, you are paying more for maintenance now than what you can actually mine.

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0..... No payout, this is the because the maintenance fee is eqv to 0.79 USD per TH/s and again..the fee is more than the payouts.

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00001753 BTC     A payout but very small, if difficulty keeps rising and BTC price does not within a month or two this contract will be gone also.

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002203 BTC    Remember this is based on most profitable X11 coin being mined and paid to BTC.


So all in all, not very good for Genesis Mining, their latest contracts have an even lower fee now, these came in May, I have not purchased any hashpower at this rate though and these have a maintenance fee eqv to 0.40 USD per TH/s and at the moment I do not want to invest in Cloud mining as it is just too risky and not very profitable.


Hashnest

Now lets look at the only Hashnest payout now. Remember once I had UMISOO, S2, S3, S4, S5 as well but they were all terminated. Only S7 is left now.

Payouts based on 39 blocks found.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00003472

Payout for that day was good but Antpool also had a good day with hitting blocks.

I will also post the Hashnest payout for the mining for yesterday.
I will post the Genesis Mining payouts for today later but as their payouts come anytime during the day, i could not post them at the time of doing this thread.
Hashnest always start to list their payouts from midnight.

Here are the payouts for Hashnest for today. For mining day 11.07.2016

Payouts based on 32 blocks found.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00001942

As you can see the amount of blocks found can impact the payouts alot. Hashnet use a different system than GM for payouts so this is one reason why Hashnest payouts can fluctuate so wildly from day to day. If they do not find so many blocks then the payouts can be bad and if they find lots of blocks, the payouts can be good.  GM bases their payouts different using PPS method...and Hashnet uses PLNS.

I would advise you to look up these methods and try and understand the differences..

Anyway will update this post later with GM payouts for yesterday but wanted to show you the effect that halving is having with my cloud mining contracts.

Update

Genesis Mining payouts for Mining Day 11.07.2016, the majority of these contracts will terminate if something does not happen with Bitcoin difficulty or price etc.

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0......   No payout.

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0....  No payout.

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0...... No payout.

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0...... No payout but 0.00000411 BTC was saved on their system until the minimum withdraw amount is reached which is 1000 satoshis.

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00001713 BTC     A payout but very small, if difficulty keeps rising and BTC price does not within a month or two this contract will be gone also.

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002439 BTC    Remember this is based on most profitable X11 coin being mined and paid to BTC.

Payouts for X11 are awful now compared to how they were a few months ago. This is because of all those darn X11 Asics coming along and making the difficulty shoot up so much.

Payout info for Mining Day 29.06.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0.00002390 BTC

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0.00004052 BTC   

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0.00004843 BTC 

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0.00005747 BTC   

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00007543 BTC   

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00002199 BTC   

Genesis Mining X11 1 MH/s Dash and Start 

Startcoin                  0.61102884 START

Dash                       0.00218058 DASH


Hashnest Payouts

Payouts based on 23 blocks found.

Hashnest S7 50 GH/s  @ $0.0006 USD per GH/s   0.00004149 BTC PLNS


Other news

Genesis Mining are selling X11 contracts again. According to an email I received which was sent out to customers, they have started to purchase X11 Asics and so can offer X11 at a better price.

Minimum amount that can be purchased is 2MH/s

Example Prices are as follows

2 MH/s for 20 USD   eqv to 10 USD per MH/s

50 MH/s for 450 USD  eqv to 9 USD per MH/s

200 MH/s for 1690 USD eqv to 8.45 USD per MH/s

Personally guys, please work out your ROI before purchasing using calculators, coinwarz for example. This is really important

Please check through this thread also so you can see my historical payouts for X11 over time. Just to give you an idea about payouts currently and in the past

Right,

Almost 3 months have passed since I last posted a payout reference so let us see what the mining returns are like now.

Bitcoin price has gone up but difficulty has also, although the last difficulty change was a small drop, but the next one due in less than two weeks from now (10th June 2016).

On with the payouts

Payout info for Mining Day 09.06.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Some contracts have been terminated in this time. Due to payouts being less than the maintenance fees.

Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0.00002237 BTC  
This contract is interesting as for a while I thought it was going to terminate but because Genesis Mining give 20 days for payouts to get better again, as the payouts improved due to rising BTC value, this contract is still paying out.
There were no payouts between 15th April and 23rd April, so 9 days in total and then no payouts between 14th May and 31st May, but again, because they allow 20 days in a row, it was restarted again when the payout was profitable enough. Shame the same did not happen for some of my earlier contracts.

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0.00004069 BTC    Previous payout listed above almost 3 months ago was 0.00003793 BTC

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0.00004941 BTC    Previous payout listed above almost 3 months ago was 0.00004997 BTC    

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0.00005930 BTC    Previous payout listed above almost 3 months ago was 0.00006326 BTC    

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00007908 BTC    Previous payout listed above almost 3 months ago was 0.00009093 BTC  

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00004925 BTC     Previous payout listed above almost 3 months ago was 0.00037101 BTC
X11 payouts have gone down alot, this is partly because Dash coin has dropped in value against BTC and also because since around January and February, X11 Asics have started to appear and so just like Litecoin and Scrypt Asics, this has affected X11 hashpower and so difficulty has risen by alot. More ASICs are claimed to be out in August with even more hashpower so this is just going to affect payouts even more. Will be really lucky if i make ROI with this contract by the time the year is out.

Genesis Mining X11 1 MH/s Dash and Start

Startcoin                  0.91712212 START                 Previous listed payout on this thread was 1.50373281 START

Dash                        0.00357337 Dash                   Previous listed payout on this thread was 0.01921243 DASH

So as you can see X11 Asics have really affected the payouts now. Startcoin has also lost alot of value and is worth alot less than it did months ago.

So as mentioned, will be really hard to make ROI at all with X11 contracts. If you paid with Credit Card and USD though, you will do better, but I paid in BTC so need to get the same amount of BTC back that I paid to make ROI. Not really thinking this is going to happen now.

Hashnest Payouts

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s Contract closed and terminated
This contract is no more, although this was similar to my GM contract regarding maintenance fee but Hashnest felt it could carry on no more.
I do think though that currenty users with S5 hashpower on Hashnest could have been getting payouts still as the GM contract with similar fee is still paying out although tiny payouts.
Perhaps Hashnest wanted these closed ASAP to fill the spaces from the removed S5s with more S7s and later.

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s   0.00004165 BTC PLNS    Last written payout on my thread  was 0.00014270 BTC.
Hashnets payouts go up and down wildly compared to GM payouts as GM seem to use PPS for payouts and Hashnest use PLNS.
So if Hashnest do not find many blocks on one day then the payouts will be lower than average and then on days when they mine lots of blocks then the payouts are higher than average where as GM payouts are based on different system. You can google search and find out about PPS payouts and PLNS so you can find out the differences. Some pools use PPS and others PLNS.

1st June 2016 Updates.

Mining Sweden

Mining Sweden has decided to stop Cloud Mining.

You can find out more about and this why they have decided to do this here. https://www.miningsweden.se/news/
They attribue rising Bitcoin difficulty, negative and angry emails and the forthcoming Bitcoin halving as some of their reasons for their decision.

According to Mining Sweden, VIP shares will still carry on as they are linked to the company, not the mining part although I have doubts that the company will even exist in a year or so.

If you search on the forums, quite a few threads about Mining Sweden and peoples feelings already.


Hashnest.

S5 Hashpower

Since my last post and due to rising Bitcoin difficulty, my S5 hashpower has now gone to the hashpower graveyard.

Some history on the S5 contract.

I purchased this hashpower on the 21st June 2015, so just over 11 months ago. Small amount, just 50GH/s for payout comparison.

Cost for this contract was   0.07202624 BTC

Over the time I had this contract until the day it died, the total amount of payouts before fees was 0.10214226 BTC

The Maintenance charges for this contract during the 11 months were 0.05807448 BTC You then have to deduct the fee from the total payout.

So after deducting the fee from the payouts, which is 0.10214226 BTC - 0.05807448 BTC, the actual amount I was paid in 11 months was 0.04406778

So over 11 months after deducting the original purchase price from the mining payouts after fees,  I had a loss of 0.02795846 BTC

So did not make ROI at all, I could of course have sold my hashpower at anytime but I still would have most likely have still made a loss anyway as even a month or two before the S5 hashhpower stopped, the price for selling 50 GH/s was quite little so I still would have made a loss, plus whole purpose of my thread is to do payout history and this is why i buy small amounts so that if i do lose something, it is normally quite small and is something I can handle.

S7 Hashpower and other Hashnest related things

My S7 hashpower is still going and I will post payouts for that below with the others from Genesis Mining

With Bitmain now officially announcing the S9, at some point no doubt Hashnest will be offering hashpower for this on their marketplace so keep an eye out for that and pricing. Some people have profited in the past, for example when the S7 came to the site, by buying miners on preorder and then selling the hashpower from it on the first trading day.


Genesis Mining

A few things happened with Genesis Mining.

First the bad news.
Just like Hashnest some contracts have died, due to rising difficulty prices and the daily fee becoming more than the payout itself.

I will show payout info for the contracts that still remain.

Perhaps it might be best if you are wanting to invest in SHA 256 to wait for the halving, hold on to your Bitcoin and then see what the situation is like then. I think SHA 256 Bitcoin Cloud mining no matter who the provider is, are pretty risky at the moment. Of course my opinion only but one only needs to read up on the forums and see other comments about cloud mining etc at the moment and that should give you a clear idea.

Now the good news from a Genesis Mining point of view.

Genesis Mining lowered the pricing for ETH and SHA 256 contracts.

ETH contracts are now priced at 37 USD per MH/s (from 44USD per MH/s)
Personally i think this is still way too expensive but they have their own reasons, but for me it just seems more logical if you can  purchase a good AMD GPU that can mine at around 20 MH/s and above and mine at home yourself if you can.

Current SHA 256 contracts are priced in 3 different pricing stages.

100 GH/s is 19 USD  or around 19 US cents per GH/s

2 TH/s is 340 USD  or around 17 US cents per GH/s

10 TH/s is 1600 USD or around 16 USD per GH/s

As you can see, the more you purchase in one go, then the cheaper the price gets per GH/s

Hashnest vs GM pricing currently

The daily maintenance fee for newly purchased Genesis Mining contracts are around 0.0004 USD per GH/s per day or 0.40 USD or 40 US cents per TH/s.

This is cheaper than Hashnests Maintenance fee for S7 hashpower as that is eqv to around 0.60 USD or 60 US cents per TH/s.

But, purchasing Hashpower on Hashnest on the marketplace is alot cheaper.

For example when looking at the time of writing, purchasing 2 TH/s of S7 Hashpower on the Hashnest market would cost about 0.22 BTC or currently around 117 USD with BTC/USD exchange rate.

Genesis Mining are charging 340 USD for 2TH/s which was around 0.637 BTC at the time of writing.

But do not forget that Hashnets market is based on users buying and selling and they dictate the price so you could find that as soon as you buy hashpower and then a few weeks later want to get rid of it, you might find that you will have to sell it at a loss even including the payouts you have had already.

Just to clarify, once you purchase Hashpower with Genesis Mining, you can not sell it or trade it or anything like that, although I guess you could sell it if you wanted to another user but then that is most likely not supported by Genesis Mining so if you then email them with a bought account and they do not support you or help you out, then that is a risk that you decide to take.

So thats the update for now, will now post latest payout info for today below.

Posted two new videos on my Youtube channel today.

One about Genesis Mining and one about Mining Sweden.

Just in short.

GM seemed to have dropped ETH prices per MH/s and have uploaded a new video whilst Mining Sweden seems to be advertising hashpower preorders based on the Antminer S9, which is Bitmains next gen miner which they had been keep quiet it seems until Mining Sweden added it to their website.

Video links are here.

Genesis Mining
https://www.youtube.com/watch?v=DxWm-gTVg4s

Mining Sweden
https://www.youtube.com/watch?v=n5Bn4tUwB_c

Sorry not updated payout info lately, but will try and update soon.

But as most of you know, payouts for SHA 256 are getting lower and lower due to difficulty rises although last rise was a small one but i have a feeling that difficulty will start rising again soon. Personally i think SHA 256 mining is a little risky now so might be better to buy BTC and see what happens after the block halving before investing.

Cheers

Payout info for Mining Day 16.03.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0.00001263 BTC

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0.00003793 BTC   

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0.00004997 BTC 

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0.00006326 BTC   

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00009093 BTC   

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00037101 BTC   


Genesis Mining X11 1 MH/s Dash and Start

Startcoin                  1.50373281 START

Dash                       0.01921243 DASH

Hashnest Payouts

Payouts based on 51 blocks found on Antpool.  Huge number of blocks on Antpool today.

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s     0.0007267  BTC PLNS   

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s   0.00014270 BTC PLNS

Payout info for Mining Day 15.03.2016 All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s    0.00001285 BTC

Genesis Mining 50 GH/s @ 0.00099 USD per GH/s   0.00003812 BTC  

Genesis Mining 50 GH/s @ 0.00089 USD per GH/s   0.00005015 BTC  

Genesis Mining 50 GH/s @ 0.00079 USD per GH/s   0.00006343 BTC    

Genesis Mining 50 GH/s @ 0.00055 USD per GH/s   0.00009107 BTC  

Genesis Mining 1 MH/s X11 BTC (AUTO)                0.00037905 BTC    


Genesis Mining X11 1 MH/s Dash and Start

Startcoin                  1.10302648 START

Dash                       0.01497819 DASH

Hashnest Payouts

Payouts based on 44 blocks found on Antpool.  Lots of blocks found on Antpool

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s     0.0004171  BTC PLNS    

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s   0.00011284 BTC PLNS

Also just to add, i do get your point, but who is to know when a contract starts what is going to happen with Bitcoin difficulty and what the price of BTC will be in the future.
It could also have worked out the other way, Bitcoin could have flew up to over 1000 USD and then people would have been happy with their great payouts and how profitable the companies are, when its not the companies but its Bitcoin causing the payouts to be better. Problem is, I have seen on these forums, that if BTC is not profitable and payouts go down, due to how Bitcoin mining works, then suddenly it is the cloud mining companies fault.

With Ethereum for example on one thread, I read about how one user said that ETH mining was profitable for them and they were glad they bought an ETH contract. Users correctly replied to say it was not the cloud mining company that should get the credit but it was the price of ETH causing his payouts to go up which made his contract profitable.

Thing is. I am sure those same people would have, if that same user had wrote that his ETH payouts were going down because ETH was being dumped like crazy and that he did not think he was going to make ROI, then suddenly it is the cloud mining companies fault that his payouts are what they are, and they are a scam. Interesting how the point of view changes.

Going back to Bitcoin, did anyone expect the hashrate of Bitcoin to basically double in 3 months? I did not and I am sure others did not too. We all know it was increasing at 4 or 5 % rises each month but to suddenly get jumps of 10s and 20% percents was unexpected i think and caught alot of people out.

Well SHA 256 mining has not been good, because of difficulty. If you do look, one of the contracts did make some ROI.

The reason i do this is simple. This thread and also my Youtube channel where I have shown videos of example of payouts from 2014 are a good archival record now to show people what Bitcoin payouts have been in the past. It might not be so relevant now but in 10 years, perhaps people will be interested to see that with 10GH/s of SHA 256 in 2014, the payouts were the same as what 50GH/s would get nowadays.

I just buy small amounts, the minimum really. 50GH/s because that is what GM offers as the minimum so i want to compare all the same.

In 2014 the minimum was 10GH/s but that was because 10GH/s then was the minimum but today the payout for 10GH/s would not really be worth bothering about.

So all the contracts i purchase out of my own money and just let them run their course.  Yes my contracts seem to always die before getting any profit but the amounts are small, but it is handy for those that want to purchase larger amounts as then they can look at my payouts and then multiply it by whatever amount they need to, work out what their payouts are, at a given time.

I just hope that people find it useful and also in years to come, perhaps something to look at from a historical perspective.

So, can you conclude that mining with a mining service has always lost money? I'm interested why, if you can't earn money mining with these services why people would do it? Seems like the mining services are the ones making money.

These contracts listed are ones that have been closed, terminated etc due to no profitability.

I will add Genesis Mining and Hashnest for now although will probably add GAW miners at some point as well, just need to hunt down the data for it

Genesis Mining

10 GH/s at 0.02 USD per GH/s

Contract started 14 September 2014

Amount paid for Hashpower 0.020 BTC

Contract terminated 18th September 2015

Final Payout  0.02470709 BTC or 123.53% ROI ...so this contract made ROI before it terminated by just over 23%.

Also as noted, 1GH/s was added to this contract around February 2015, so if you exclude that 1GH/s payout to keep payouts at 10GH/s, final payouts would have been 0.02383256 so that also made ROI. So yes, if you purchased SHA 256 at the same time I did, then it should have made ROI for sure, those who purchased large amounts of hashpower would have had cheaper USD per GH/s pricing so they should have made more profit than i would have done. But the later you would have purchased a contract then the less ROI you would have made


50 GH/s @ 0.0015 USD per GH/s

Contract started 19th January 2015

Amount paid for Hashpower 0.1165 BTC

Contract terminated 6th February 2015

Final Payout  0.06447117 BTC or 55.34% ROI

This contract unfortunately was not so good, Bitcoin difficulty rises of large amounts from November 2015 made this one terminate too soon I think. Also affected Hashnest contracts listed below as they also terminated.


Hashnest  

Hashnest S3 Contract

Contract started 24th July 2015

Amount paid for Hashpower 0.03459995 BTC

Contract terminated 13th January 2015

Final Payout  0.01038298 BTC or 30% ROI


Hashnest S4 Contract

Contract started 24th July 2015

Amount paid for Hashpower 0.04871949 BTC

Contract terminated 29th January 2015

Final Payout  0.01945114 BTC or 39.9% ROI

With both of these contracts I could have sold my GH/s but I still would have sold at a loss and would never had made ROI. I decided to keep the mining going until the end for Historical purposes.

Just thought I would quickly run through some of my contracts that are still going.

I will list the purchase date, the amount I paid and how much BTC I have been paid back so far,  plus the ROI so far, just to give you all an idea of how things are currently.

I will update this every few months. I have a feeling that most of the contracts will not make ROI, including Hashnest.

The GM X11 contract might make ROI although still a way to go yet but will see.

The list will be just for Bitcoin payouts. So Dash and Startcoin are not included.


Genesis Mining

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s

Contract started 18th September 2015      

Amount paid for hashpower 0.096 BTC

Amount back in payouts 0.02217004 BTC  or 23.09% ROI


Genesis Mining 1 MH/s X11 BTC (AUTO)              

Contract started  03 October 2015  

Amount paid for hashpower 0.099 BTC

Amount back in payouts 0.03515645 BTC  or 35.5% ROI


Genesis Mining 50 GH/s @ 0.00099 USD per GH/s  

Contract started 05 December 2015

Amount paid 0.054 BTC

Amount back in payouts 0.01002782 BTC or 18.57% ROI


Genesis Mining 50 GH/s @ 0.00089 USD per GH/s  

Contract started 03 January 2016

Amount paid 0.049 BTC

Amount back in payouts 0.00585593 BTC or 11.95% ROI


Genesis Mining 50 GH/s @ 0.00079 USD per GH/s  

Contract started 09 January 2016  

Amount paid 0.028 BTC

Amount back in payouts 0.0059652 BTC or 21.3% ROI


Genesis Mining 50 GH/s @ 0.00055 USD per GH/s  

Contract started 11 February 2016  

Amount paid 0.0215 BTC

Amount back in payouts 0.00651297 BTC or 30.29% ROI


Hashnest

Hashnest S5 50 GH/s

Contract started 21st June 2015

Amount paid for hashpower  0.07202624 BTC

Amount back in Payouts  0.04331276 BTC or 60.13% ROI


Hashnest S7 50 GH/s

Contract started 10th October 2015

Amount paid for hashpower 0.10500000 BTC

Amount back in Payouts.  0.03082713 BTC    or 29.359%  ROI