Topic: Genesis Mining vs GAW Mining, Spondoolies, Hashnest and Mining Sweden updates - page 27. (Read 57584 times)

Competition is good for all of us! Good times ahead!

Have updated the OP again.

They have announced even lower prices, some of the lowest out there now and also their contracts are now lifetime and not tied to just one year etc.


Taken from GM post.

Scrypt:

Gold      :   1 Mh/s    -  17.99 USD (17.99 USD per Mh/s)
Platinum :  20 Mh/s   -    339 USD (16.99 USD per Mh/s)
Diamond : 100 Mh/s -  1,499 USD (14.99 USD per Mh/s)


SHA:

Gold       :    10 Gh/s      -    9.99 USD (9.99 cents per Gh/s)
Platinum  :  1000 Gh/s    -    989  USD (9.89 cents per Gh/s)
Diamond  :10,000 Gh/s  -    9790 USD (9.79 cents per Gh/s)


Great news for all.

So what is everyones take on the gaw mining so far i wont do genesis since not for life that kinda kills me right there. I like to be able to own them and if i want to sell them or gift them away then i feel like i should be able to. Any ideas when if when GAW will drop price down some more or lowers maint fees?

Have updated the OP, due to price of Hashlet Primes increasing by $10 USD today.

Even without selling the early (15.99) miners for a higher price (close to $40) the hashlets are still about 20% ROI if purchased at the $15.99 rate.

You can follow my hashlet ROI here: https://bitcointalksearch.org/topic/gaw-hashlet-roi-tracking-752824

and if you want hashlet discounts here: https://bitcointalksearch.org/topic/gaw-miner-discounts-including-hashstaker-and-hashlets-750909

Looks like GAW's idea was good since the competition is trying to launch a similar product.

Things that struck me in this comparison:
Hashlets are tradable, and they are planning to make this even easier in the future.
You can sell your Hashlet whenever you want and the prices have risen in the last few weeks so people who bought early Hashlets have already reached ROI.
Hashlet's fees are supposed to decrease in time to keep it profitable.
You don't accept credit card payments, so there's no chance of getting the money back if you guys decide to bail.

*shameless plug*
You may buy Hashlets at GAWMiners.com, pay with your credit card and recieve an activation code. You can then use this code at https://cloud.zenminer.com where you then activate your new miner.

So yes you can pay with your credit card if this feels more secure. This is how I have purchased my hashlets, no problems at all. Although when GAW announced their new hashlets the site was swamped and it took a few hours to get the codes.

Just for the fun of it, use the like above and I'll see that you can get 1.5% off your order.
If your order is completed, GAW pays a small commission for affiliates. Once the payout is complete, I'll pay you back your 1.5% in BTC. 

Yes, I bought my hashlets a little more than two weeks ago when the then Hashlet was 16.99 $/MH. I started with 1 or 2 MH, but added more as they seemed to perform well and the payouts started to trickle in. They were recently converted to Primes, so I'm holding on to them and am eager to see what waits ahead in terms of alternative mining algorithms and payouts.

To date they have payed out almost 22% of my initial investment, but I expect that the payout rate will decrease. I'll be happy if the hashlets reach a ROI within 90 days (currently looking at 70-ish days from my estimation).

Thanks for the comments.

When you refer to paying $800 for 50 MHs, I gather you mean the hashlets at $16.99 which are now the hashlet primes or did you purchase an Asic??

Anyway if they were hashlet primes then now they would be worth almost 2000 USD, so that was quite a good saving for you

You are correct about 50 MHs being $2,200 with Genesis Mining and even lower with a promocode.

At current fees of 8 cents per Megahash, GAW are charging 4 USD a day, 120 USD a month or there abouts, where as GM take nothing, but those fees with GAW are going to drop over time, we have been told.

But anyway I have both hashlets and a contract with GM, so just trying to show the plus and minuses of them.

I have also heard that Genesis Mining have a project X in the pipeline which could mean even lower prices. They are not saying much about it at the moment.

Interesting times ahead anyway.

I had a look at Genesis and saw the larger price difference in terms of $ per MH for the smaller contracts. I have purchased about 50 MHs at GAW for $800-something, (but getting the same today would be about $1050), while this would cost me roughly $2200 at Genesis.

As it stands today I would go with GAW again, but if the prices started coming down at Genesis then maybe I would consider them as well. In the end it boils down to ROI, and as long as the payouts from GAW exceed the service fee of 8 cents per MH, the hashlet would continue to give small payouts for its lifetime.

The competition benefits all miners though, as the diff increases 50MHs won't be worth that much in a half years time, my hope is to make a ROI and let the hashlet keep on running. If/when I do in fact make my money back, I will be checking back and see how Genesis are doing and if their offers are competitive to the others in the mining field.

News and info about Genesis Mining

This will get updated with latest news regarding Genesis Mining. Also in this thread are historical payouts and video links.
In September 2015 I wanted to compare payouts with GAW miners and their Hashlets and Genesis Mining so for a few months I did just that, well until Scrypt payouts went to nothing, but for historical purposes, it could be fun to see what payouts were like, even the USD/BTC price.

Now I am focussing on providing payout data for Hashnest and Genesis Mining so users can compare the two. So I purchased 50GH/s of all known contracts so that you can look up information quite easily.

Hope you find it useful

August Update
At the moment Genesis Mining only sell SHA 256 contracts now. Scrypt has been unavailable for a few months. Marco Streng mentioned in the latest webinar that X11 mining will be coming very soon so when i know more info, will update.

Their first Webinar on 28th July 2015. Interesting info here.  Will update links when more become available.

https://www.youtube.com/watch?v=LM0YUEbOGu4


Update 2016

From 8th January Maintenance fees for SHA 256 contracts on newly bought contracts is 0.00079 USD per GH/s per day or 0.79 USD per TH/s

X11 and ETH contracts are 1 year and have all fees included in upfront cost.

Genesis Mining has does have advantages and disadvantages though.



Advantages - Genesis Mining.

You can mine other coins, as well as BTC,

For SHA 256 contracts, users can allocate hashpower to Bitcoin, UNO and Zetacoin and use the autotrade function to get payouts in Litecoin, Dash, BTCD and Dash.
All the auto trade coins have (AUTO) beside them. With (AUTO) marked coins, payouts are still in Bitcoin but are traded when the payout goes out to the relevant coin at the going rate, as in whatever price they are being traded at, at the time. So instead of sending your Bitcoin payout to Cryptsy for example to trade to Doge or Litecoin, you can just allocate hashpower to LTC (AUTO) or Doge (AUTO) and it will trade your Bitcoin payout for Litecoin and Doge. Can save time and hassle.

Users who are still on Scrypt contracts can allocate hashpower to LTC and Dogecoins, DRK, FTC, POT, NVC. Blackcoins and Megacoin and also Viacoin. Dnotes and World Coin

You can also specify how much of your hashpower you want to direct to coins when you mine, so you can mine different coins in one go. 50% to LTC and 50% to BTC for example.

Lots of user promo-codes around giving you a discount off the price, for example code CK_DISCOUNT (3 % code for Lifetime, 2.5% for 1 year Master contracts)

They accept Credit Card, LTC, BTC, Doge, Dash, USD and Euro Bank Wires as payment.

Every user gets a referral code that allows them to give discounts to other users and also receive hashpower for free.


Disadvantages - Genesis Mining

You do not get to choose a pool to mine from

It is not possible to trade your hashpower


Feel free to add or discuss below.

Thanks
Ian