Genesis-mining.com || World's leading hashpower provider! - page 111.

flyingplows

sr. member

Activity: 518

Merit: 250

Quote from: galdur on May 11, 2015, 06:34:55 AM

If BTC price doubles Genesis comatose contracts presumably improve to a ROI that is acceptable, say 120-140 days.

Good luck, g

But if you believe this is really going to happen it is better to just buy Bitcoins and hold Tongue

You have to base your decisions whether it is reasonable to invest on the current price and at the moment it is not reasonable at all to invest here. Far better deals waiting for you at hashnest and bit-x.

Bitcoin_BOy$

hero member

Activity: 854

Merit: 503

|| Web developer ||

Quote from: galdur on May 11, 2015, 06:34:55 AM

If BTC price doubles Genesis comatose contracts presumably improve to a ROI that is acceptable, say 120-140 days.

Good luck, g

hmm , well I don't think that's really true , I already bought a contracts for more than 230 $
and didn't get 10% of ROI in 3 months (maybe because of the crypto i choosed [bitcoin] and scrypt).

Bitcoin Boy .

tokingtoking

full member

Activity: 169

Merit: 100

Quote from: IanFoxley on May 13, 2015, 08:43:49 AM

Quote from: tokingtoking on May 13, 2015, 07:22:34 AM

just want to say thanks to ianfoxley and zetaos for 3% code.
it works and win win solution.

Thanks for using my code, appreciate it.

you need to modified your code(dont know if it possible).
using your code since beginning but last three contract i use zetas code just because easy to type.

IanFoxley

legendary

Activity: 910

Merit: 1000

Quote from: tokingtoking on May 13, 2015, 07:22:34 AM

just want to say thanks to ianfoxley and zetaos for 3% code.
it works and win win solution.

Thanks for using my code, appreciate it.

IanFoxley

legendary

Activity: 910

Merit: 1000

Quote from: Jig on May 13, 2015, 08:39:15 AM

When will GM provide altcoin mining contracts again and is it more profitable than SHA-256 mining?

Last time I asked them they wrote that until better hardware come out for Scrypt that was less power hungry then it just not profitable at the moment.

Most companies that make mining hardware seem to be focusing on SHA 256 now and improving the hardware for that market.

Problem is that the daily fee does take a lot but if Bitcoin went up in value, then the payout could be good again.

As I mentioned in another post, even a really good SHA 256 miner is not profitable for me at home with my electricity costs so a Scrypt miner would be even worse I think.

Jig

newbie

Activity: 1

Merit: 0

When will GM provide altcoin mining contracts again and is it more profitable than SHA-256 mining?

tokingtoking

full member

Activity: 169

Merit: 100

just want to say thanks to ianfoxley and zetaos for 3% code.
it works and win win solution.

Bitcoin_BOy$

hero member

Activity: 854

Merit: 503

|| Web developer ||

Hi all , I recently sold my Genesis Mining account , anyone can tell me what's new , I may
bought a new one if price change and profit too .

My respects ,
Bitcoin Boy.

Glucose

hero member

Activity: 861

Merit: 1001

Quote from: Genesis-Mining on May 11, 2015, 11:25:57 AM

Dear Genesis Mining Community.

We have started a new coin poll over on our Facebook page, so please join in and vote for the coins listed below.

We think that coin diversity is important for the future development of Cryptocurrencies because it fosters innovation. Therefore we would like to add more coins to our easy to use mining engine. Choose the coin you think that has the most potential and follow us on Facebook or Twitter to get the latest news on the coin poll. The winning coin will be added to our engine.

* Peercoin

* Zetacoin

* Primecoin

* Ziftrcoin

If you vote on Facebook you will automatically be entered into a contest.

More information can be found at our Facebook page
https://www.facebook.com/GenesisMining

Your Genesis Mining Team

Done. Peercoin for me

How do you contact the winners ? Through facebook account ?

Genesis-Mining

sr. member

Activity: 430

Merit: 250

Dear Genesis Mining Community.

We have started a new coin poll over on our Facebook page, so please join in and vote for the coins listed below.

We think that coin diversity is important for the future development of Cryptocurrencies because it fosters innovation. Therefore we would like to add more coins to our easy to use mining engine. Choose the coin you think that has the most potential and follow us on Facebook or Twitter to get the latest news on the coin poll. The winning coin will be added to our engine.

* Peercoin

* Zetacoin

* Primecoin

* Ziftrcoin

If you vote on Facebook you will automatically be entered into a contest.

More information can be found at our Facebook page
https://www.facebook.com/GenesisMining

Your Genesis Mining Team

galdur

hero member

Activity: 616

Merit: 500

If BTC price doubles Genesis comatose contracts presumably improve to a ROI that is acceptable, say 120-140 days.

Good luck, g

fairglu

legendary

Activity: 1100

Merit: 1032

Quote from: Zeta0S on May 10, 2015, 04:38:50 PM

That`s still really quick! I work as investor for a big Dutch bank, we see 3 to 4 years as a fast return of investment.

It is not ROI in the usually accepted meaning though, it's getting as much BTC for your USD with mining as you would by buying them outright.

Let's look at two scenarios: Albert and Bernard invest the same amount of USD today, Albert buys a mining contract, Bernard buys BTC.

Scenario 1: Overnight, BTC value doubles. Albert is looking to get the same amount of BTC Bernard has in... 285 days. At the same time, Bernard can sell half his BTC, and buy the same mining contract as Albert and still have half his BTC already in pocket.
Scenario 2: Overnight, BTC value halves. Bernard lost 50% in USD, but still has his BTC, and can bailout or hodl and wait for a bounce. Albert's mining contract does pay less than a trickle, "ROI" is measured in decades now, worst case being the contract does not pay its own electricity and is canceled.

The above scenarios are valid for any percentage variation, the doubling/halving is just for illustration.

Bernard (and buying) wins all the time at the current BTC price point.

At the moment mining contracts are an encouragement to the tech and the ecosystem, and they're an alternative to home mining as Ian pointed. But a profitable investment they are not, whichever way the BTC price will go.

IanFoxley

legendary

Activity: 910

Merit: 1000

Quote from: creuz on May 10, 2015, 04:27:29 PM

Quote from: Zeta0S on May 10, 2015, 04:23:41 PM

+1

From someone having this signature

Quote

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com

I wouldn't except you to reply -1 Roll Eyes

I think he was giving +1 because he understands like me that home mining for a lot of people is not profitable, like in my case, so companies like Genesis Mining are the best options if you want to get some hashpower and earn coins. Simple really. I don't just have investments in GM, I have contracts at 3 other companies as well.

If you do the maths and find it is easier to mine at home, especially if electricity costs are really cheap, and you don't have any one to complain about the heat and the noise, then go for it. I love mining with my GPU sometimes, but mainly when a new altcoin comes out just to join the rush..

IanFoxley

legendary

Activity: 910

Merit: 1000

Quote from: creuz on May 10, 2015, 04:24:32 PM

Erratum, the current Return On Investment is 571 days (not 400 days)... worse and worse. That means that when you give one bitcoin to Genesis Mining today, if difficulty does'nt change for 571 days (lol), you will get back your bitcoin at the end of 2016 (may be for christmas who knows). If (likely) difficulty rise before these 571 days, you can consider you will never see your bitcoin again.

Good luck

To be honest I would purchase BTC with USD at the moment because the price of Bitcoin is cheap compared to the USD. So I am trying to purchase contracts with USD as I think Bitcoin will go up in value, not the other way around, yeh it might fall a little more but overall I think it will go up.

Of course it might not but Crypto is a risk but that are my feelings on it.

Zeta0S

legendary

Activity: 1890

Merit: 1031

Quote from: creuz on May 10, 2015, 04:43:14 PM

Quote from: Zeta0S on May 10, 2015, 04:38:50 PM

Quote from: creuz on May 10, 2015, 04:24:32 PM

Erratum, the current Return On Investment is 571 days (not 400 days)... worse and worse. That means that when you give one bitcoin to Genesis Mining today, if difficulty does'nt change for 571 days (lol), you will get back your bitcoin at the end of 2016 (may be for christmas who knows). If (likely) difficulty rise before these 571 days, you can consider you will never see your bitcoin again.

Good luck

That`s still really quick! I work as investor for a big Dutch bank, we see 3 to 4 years as a fast return of investment.
We heb investmenst that take 12 years to get back.

So 400 Days is not bad at all in my opinion. But hey i untherstand you want a faster Roi, we all like that.

571 days... not 400.

And please, ask your bank to invest in Genesis Mining (lol), they will rush for sure.

Another question : Genesis Mining is claiming to be "World's leading hashpower provider". Can you prove it ? There is no public verified report on this "company". I'm sure your Dutsh bank don't care and would be happy to invest in Genesis Mining

Yeh, will ask the boss Grin

, haha. Bitcoin is not scalable enouge for that i am afraid.

Quote

"World's leading hashpower provider". Can you prove it ?

just a markeing spell, Also would be difficult to proof, but i think the will be on place 3 to 5. That`s no so important.

What is importante I have got 4 time`s roi whit genesis sinds the beginning

creuz

member

Activity: 119

Merit: 10

Quote from: Zeta0S on May 10, 2015, 04:38:50 PM

Quote from: creuz on May 10, 2015, 04:24:32 PM

Erratum, the current Return On Investment is 571 days (not 400 days)... worse and worse. That means that when you give one bitcoin to Genesis Mining today, if difficulty does'nt change for 571 days (lol), you will get back your bitcoin at the end of 2016 (may be for christmas who knows). If (likely) difficulty rise before these 571 days, you can consider you will never see your bitcoin again.

Good luck

That`s still really quick! I work as investor for a big Dutch bank, we see 3 to 4 years as a fast return of investment.
We heb investmenst that take 12 years to get back.

So 400 Days is not bad at all in my opinion. But hey i untherstand you want a faster Roi, we all like that.

571 days... not 400.

And please, ask your bank to invest in Genesis Mining (lol), they will rush for sure.

Another question : Genesis Mining is claiming to be "World's leading hashpower provider". Can you prove it ? There is no public verified report on this "company". I'm sure your Dutsh bank don't care and would be happy to invest in Genesis Mining

Zeta0S

legendary

Activity: 1890

Merit: 1031

Quote from: creuz on May 10, 2015, 04:24:32 PM

Erratum, the current Return On Investment is 571 days (not 400 days)... worse and worse. That means that when you give one bitcoin to Genesis Mining today, if difficulty does'nt change for 571 days (lol), you will get back your bitcoin at the end of 2016 (may be for christmas who knows). If (likely) difficulty rise before these 571 days, you can consider you will never see your bitcoin again.

Good luck

That`s still really quick! I work as investor for a big Dutch bank, we see 3 to 4 years as a fast return of investment.
We heb investmenst that take 12 years to get back.

So 400 Days is not bad at all in my opinion. But hey i untherstand you want a faster Roi, we all like that.

creuz

member

Activity: 119

Merit: 10

Quote from: Zeta0S on May 10, 2015, 04:23:41 PM

+1

From someone having this signature

Quote

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com

I wouldn't except you to reply -1 Roll Eyes

creuz

member

Activity: 119

Merit: 10

Erratum, the current Return On Investment is 571 days (not 400 days)... worse and worse. That means that when you give one bitcoin to Genesis Mining today, if difficulty does'nt change for 571 days (lol), you will get back your bitcoin at the end of 2016 (may be for christmas who knows). If (likely) difficulty rise before these 571 days, you can consider you will never see your bitcoin again.

Good luck

Zeta0S

legendary

Activity: 1890

Merit: 1031

Quote from: IanFoxley on May 10, 2015, 03:50:40 PM

Quote from: creuz on May 10, 2015, 03:06:43 PM

And we can even buy real hardware miner for less than $0.39 per GH/s...

http://www.ebay.com/sch/i.html?_from=R40&_sacat=0&_nkw=bitcoin+miner&rt=nc&LH_BIN=1

I just looked that up. Yes it is 0.39 USD per GH/s but then I would have to add delivery costs.

Plus, I then have to buy a 750W PSU, a gold rated one probably as I wouldn't want something that was going to blow up after a few weeks

My electricity costs where I live are 0.23 USD per KWH. So after looking at that, I would be making a loss each day as my electricity costs would be more than the Bitcoin I am mining on the Mining Rig. This is why cheap electricity is essential.

What if I get it and a month later it acts up or dies, then I have to send it back if it still under guarantee. So that is even more costs.

So for me, mining 1TH with Genesis Mining is a far better option. 400 Day ROI, who cares, it's a lifetime contract and right now Bitcoin value is quite low, I think it will get higher so ROI time will get less and less and if it is 400 days or more, I don't care, I am in this for the longterm.

BTW, go and buy that Antminer S5, do some research first, find out your electricity costs, ask your loved ones if they don't mind having the noise of it on all day long and also the heat, hope you get sufficient cooling etc.

Good luck

Ian

+1

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