Topic: Genesis Mining vs GAW Mining, Spondoolies, Hashnest and Mining Sweden updates - page 22. (Read 57588 times)

Just curious...

What happens when I decide that I no longer want to own the hashing power? Is it possible to sell or trade off these contracts on Genesis Mining?
I would hate to think that I could put thousands and thousands of dollars into something like this and never see it again. I do understand that these are lifetime contracts, but eventually the difficulty will render these shares useless. So if I don't continue to pump money into buying more hash power, eventually the returns will just shrink to near zero and I will never see that money again.

Day 31 comparison of payments with Genesis Mining and GAW Miners Hashlets.
http://youtu.be/gM8RmBHnpgk

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013098 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00013713 BTC

Genesis Mining 1 MH/s contract    0.00021833 BTC
GAW Waffle Hashlet                   0.00021074 BTC
GAW Zen Hashlet                         0.00025001 BTC

Also a video comparing ROI for the first 28 days with all the contracts so far.
http://youtu.be/B7MLGGkdKwk

Ian

Glad to see today everything worked as good every other day before 

payment received just now

And you're right P-eye, your memory is better then... who am I?! O yeah, mine

Agreed, as long as it's not after 23:59 UTC, payments are not late, not overdue, not missing - everything works just fine

On Hashtalk the CEO commented that he is again re-negotiating some contracts and it could take some until ZenPool payout goes up again (at least that's how I understand it)

Not sure, think I saw CEO Josh mention somewhere that they did a new deal which would cause payout to be lower initially and then higher from then on. But the man makes so many statements that are not exactly true. Might also be about Primes? Whatever, maybe I make a mistake.


payout from Genesis Mining... Most popular phrase on Bitcointalk!
GM has never missed a payment for any day. Though yes, sometimes a payment is late. Sometimes I receive two in a day. That's the way of GM. Just hang on and have faith.

I'm a little overdue for a payout from genesis. Anybody else?

If my calculations are right, based on the new lower payout of ZenPool, the next payout of Hashlet Zen will be only around 0.0002157 BTC / MH after fees

Day 30 comparison of payments with Genesis Mining and GAW Miners Hashlets.  Sorry about the delay, this was due to GM bug last night and then Zenportal being down most of the day, so could not make my video.

http://youtu.be/BG7_IuyZ-jM

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00012849 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00012683 BTC

Genesis Mining 1 MH/s contract    0.00024734 BTC
GAW Waffle Hashlet                   0.00014196 BTC
GAW Zen Hashlet                         0.00041240 BTC

Ian 
 

Yes I read that, luckily I have already done the Genesis Mining Part of my video so once Zen Cloud is up, I can record that part and then join the two bits together, but if payouts have already happened with GAW Miners, I will do a day 30_31 combined video.

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

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

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  

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

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.

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

Ian

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

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

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

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