Genesis-mining.com || World's leading hashpower provider! - page 129.

legendary

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Quote from: galdur on January 28, 2015, 10:18:04 PM

50 GH/s costs .104 BTC and I guess a voucher can be found for 5% off. This pays what .00030000/day.

So you lend them money in the hope that they´ll repay it over 320 days or so (plus or minus depending on difficulty and USD price) and THEN you will start seeing net returns? Seems like a terrible deal but definitely not for them.

With BTC this low and general uncertainty regarding its action in the coming year I think the minimum yield demand should be around .7%/day or ROI in about 140 maybe 150 days.

Those kinds of ROI are only offered when manufacturers are building new farms Shocked

This looks like a consolidation year for ASIC manufacturers and there will be little or no new farms built. Therefore, why would they be eager to offload their remaining SHA256 hash cheaply Tongue

Genesis remaining cloud mining is just teaser that will permanently on offer for 2015, 2016 when the Bitcoin block reward halves is when new/refurbishments of farms may occur. Equally, AMhash has been sold out 2 months so no-one has really any choice. The exchange Havelock, which has trading on AMhash hash shares has some available, which is less expensive, but less productive Shocked

Therefore, a 320 day ROI looks like a realistic timeframe Roll Eyes

galdur

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50 GH/s costs .104 BTC and I guess a voucher can be found for 5% off. This pays what .00030000/day.

So you lend them money in the hope that they´ll repay it over 320 days or so (plus or minus depending on difficulty and USD price) and THEN you will start seeing net returns? Seems like a terrible deal but definitely not for them.

With BTC this low and general uncertainty regarding its action in the coming year I think the minimum yield demand should be around .7%/day or ROI in about 140 maybe 150 days.

thevictimofuktyranny

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Quote from: tglauner on January 28, 2015, 09:52:34 PM

Is there any way to know how financially stable GM is? If you invest nowadays into sha 256 it will take several months to get your money back based on current BTC price and difficulty. Does GM disclose financials if you ask them or how do you assess in general how sound a miner's business is and how long they will be around?

Well,

Ask yourself some questions:

1) Where would I build a Bitcoin mining farm, if I had cash reserves in the industrialized group of nations? Iceland.

2) How would I keep my businesses cash reserves? Sell off some of Bitcoin mining farm output as cloud mining to investors.

3) How do are maximize prices of cloud mining to buyers? No anonymity, openness and transparency and better mining equipment then the competition.

Genesis Mining equipment hash output outperforms Gen 3 hash at AMhash by about 40%. Genesis Mining can mine the hash itself for a profit, in fact so could AMhash, but it is better strategy for them to maintain cash reserves and spread the risks back into the crypto-community.

Those are some of observable facts Grin

At the end of day, you have to judge the risk for yourself Shocked

There is no past history, it is all on you own judgment Wink

tglauner

newbie

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Is there any way to know how financially stable GM is? If you invest nowadays into sha 256 it will take several months to get your money back based on current BTC price and difficulty. Does GM disclose financials if you ask them or how do you assess in general how sound a miner's business is and how long they will be around?

thevictimofuktyranny

legendary

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Yeah, that is why I bought SH256 GHS at Genesis and AMhash (formerly Hashie) :0

Did a forecast/prediction, which showed mining difficulty would be falling this year on BTC network due to it’s sub-$334 price. Making it less risky to buy SHA256 cloudmining, even if the ROI would be closer to 12 months then 5 months

Yet to show benefits on BTC, because the gravity well difficulty is not adjusted live by maths equations on the network, but set every 2 weeks or so by the organisation; it has yet to be reduced Roll Eyes

I was surprised at how many people were buying scrypt cloud mining before christmas Huh

Glucose

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Quote from: crazyivan on January 28, 2015, 02:17:39 AM

So what s the general conclusion, have you people switched to SHA 256 or not?

I have.. I don't believe scrypt mining will survive but that's my point of view

IanFoxley

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Quote from: crazyivan on January 28, 2015, 03:52:16 AM

Quote from: julian071 on January 28, 2015, 03:36:42 AM

Quote from: IanFoxley on January 28, 2015, 03:05:11 AM

Quote from: crazyivan on January 28, 2015, 02:17:39 AM

So what s the general conclusion, have you people switched to SHA 256 or not?

I haven't yet..and I think the offer has ended again so, fingers crossed that I will get a 1 satoshi payout in the coming days or it is bye bye 180 MH/s

I still could just now. But after doing the math I decided to take the risk with my 156 MH. 6 Days 0 payout now =/

What does the current math show, 10 MHS vs 10 GHS for example?
I do have any SHA 256 hash so I cant compare.

10GH/s payout was 6163 satoshis.....10MH/s payout... 0

..

crazyivan

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DMD Diamond Making Money 4+ years! Join us!

Quote from: julian071 on January 28, 2015, 03:36:42 AM

Quote from: IanFoxley on January 28, 2015, 03:05:11 AM

Quote from: crazyivan on January 28, 2015, 02:17:39 AM

So what s the general conclusion, have you people switched to SHA 256 or not?

I haven't yet..and I think the offer has ended again so, fingers crossed that I will get a 1 satoshi payout in the coming days or it is bye bye 180 MH/s

I still could just now. But after doing the math I decided to take the risk with my 156 MH. 6 Days 0 payout now =/

What does the current math show, 10 MHS vs 10 GHS for example?
I do have any SHA 256 hash so I cant compare.

julian071

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Quote from: IanFoxley on January 28, 2015, 03:05:11 AM

Quote from: crazyivan on January 28, 2015, 02:17:39 AM

So what s the general conclusion, have you people switched to SHA 256 or not?

I haven't yet..and I think the offer has ended again so, fingers crossed that I will get a 1 satoshi payout in the coming days or it is bye bye 180 MH/s

I still could just now. But after doing the math I decided to take the risk with my 156 MH. 6 Days 0 payout now =/

IanFoxley

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Quote from: crazyivan on January 28, 2015, 02:17:39 AM

So what s the general conclusion, have you people switched to SHA 256 or not?

I haven't yet..and I think the offer has ended again so, fingers crossed that I will get a 1 satoshi payout in the coming days or it is bye bye 180 MH/s

crazyivan

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DMD Diamond Making Money 4+ years! Join us!

So what s the general conclusion, have you people switched to SHA 256 or not?

Serlite

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Quote from: IanFoxley on January 28, 2015, 12:35:52 AM

Quote from: cyclonereverb on January 27, 2015, 06:36:37 PM

Quote from: IanFoxley on January 27, 2015, 03:33:15 PM

Ooo just noticed that Dogecoin is now a choice in the SHA 256 Mining Allocation Screen.

Dogecoin (AUTO)

Ian

Thanks for the heads up. Puts (meagre) daily payouts back on the cards again for those of us with next to no hash rate Cheesy

Yeh I thought the same, even 1GH/s which is paying out about 600+ satoshis at the moment, should give you some dogecoins each day, that is better than none.

Yep! Shifting my payouts with 1 GH/s to Doge now...thought it's still kinda saddening that faucet sites have outstripped my payouts by a long shot now. '-'

IanFoxley

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Quote from: cyclonereverb on January 27, 2015, 06:36:37 PM

Quote from: IanFoxley on January 27, 2015, 03:33:15 PM

Ooo just noticed that Dogecoin is now a choice in the SHA 256 Mining Allocation Screen.

Dogecoin (AUTO)

Ian

Thanks for the heads up. Puts (meagre) daily payouts back on the cards again for those of us with next to no hash rate Cheesy

Yeh I thought the same, even 1GH/s which is paying out about 600+ satoshis at the moment, should give you some dogecoins each day, that is better than none.

cyclonereverb

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Quote from: IanFoxley on January 27, 2015, 03:33:15 PM

Ooo just noticed that Dogecoin is now a choice in the SHA 256 Mining Allocation Screen.

Dogecoin (AUTO)

Ian

Thanks for the heads up. Puts (meagre) daily payouts back on the cards again for those of us with next to no hash rate Cheesy

IanFoxley

legendary

Activity: 910

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Ooo just noticed that Dogecoin is now a choice in the SHA 256 Mining Allocation Screen.

Dogecoin (AUTO)

Ian

thevictimofuktyranny

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Just as reminder, for anyone selling there Bitcoins for Fiat Currency in the UK, the escrow website:

https://localbitcoins.com/

Sellers are getting 6%-7% over the Dollar conversion price. The Uk's "Fast Payment" is free within the UK as well.

Always check feedback before selling, more then 20 feedback, verified identity, account must be in buyers name, etc

Every little bit helps Wink

thevictimofuktyranny

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Quote from: ZorroPai on January 26, 2015, 03:45:24 PM

Quote from: thevictimofuktyranny on January 26, 2015, 03:19:08 PM

One should remember every new sector of economic in history has had a period were "buyer and seller ignorance" has led to huge pumps or investments in production that were followed by subsequent brutal corrections e.g. Radio, Television, Internet, IT, and so on.

This main ways the masses achieve "buyer and seller wisdom"

a) trial and error downwards: do it until you suffer horrific losses, then reduce activity by 20%, do it until you suffer horrific losses, then reduce activity by 20% again, do it until you suffer horrific losses - at some point you will find the long term balance profitability ratio Huh

b) trial and error upwards: do it if you get ridiculous profits, then increase activity by 20%, do it if you get ridiculous profits, then increase activity by 20%, do it if you get ridiculous profits, then increase activity by 20%, - at some point you will find profits stop occurring over the long term.

Literally, that is how most people will achieve "buyer and seller wisdom" Cheesy

Obviously, people like "original philosophers" (from Thomas Paine's "Age of Reason) - can develop "buyer and seller wisdom" from 1st principles Shocked

"Original philosophers" are pretty thin on the ground and I'm afraid it is either a) or b) trial and error for the masses Huh

So, guys don't feel bad about what has happened, just use the more accurate experiences to make profits in the future Roll Eyes

Thank you for your insights. Kiss

Please poste also some good money management techniques.

Thank you, Wink

Zorro

Lowest risk buys are, as everyone should know is LTC, below $2.60 Roll Eyes

I know you guys have spent nearly 1 year selling the coins off for Fiat Currency or BTC Cheesy

Down from $14 last year to $1 Janurary Tongue

But, you must have known the day would arrive when you would have to buy back all those LTC coins to gain profits Shocked

It is undervalued until it passes $2.60.

May go to a peak price of $4 after block halving in August this year, but you want to have a decent safety margin and decent profit margin for tying up BTC/Fiat currencies for 7 months.

2016 is, as everybody should know, BTC's block halving, value will go to a peak somewhere above $400, but buying 1 year 7 months beforehand you'll need stay under $334 to give yourselves a decent profit and safety margin.

Buy in small "bits and pieces" each day or so, so the price does not runaway Cool

Not that I should say that, because I've got SHA256 ghs at AMhash and Genisis Mining Cheesy

I'll give those ones out, because sometimes people forget to do the basic crypto currency investments correctly, because of various pump and dump stuff that goes with the new alt coins Roll Eyes

There is one X11 coin I'm stocking up on this year for late 2015 and 2016, but I'll keep that to myself for few months Lips sealed

cyclonereverb

newbie

Activity: 16

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Yeah, have just traded my 2MH to GH a few days ago, and am feeling "good" about it. Gone are the days where 1MH scrypt generated the same income as 30-40GH SHA. Those were the good old days in the wild west.

TXTCLA55

newbie

Activity: 31

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Quote from: thevictimofuktyranny on January 26, 2015, 12:12:28 PM

Quote from: Minimaxa on January 26, 2015, 05:10:07 AM

Quote from: julian071 on January 25, 2015, 04:26:28 AM

Quote from: Zeta0S on January 24, 2015, 09:46:45 PM

Quote from: ?? on ??

Quote from: Minimaxa on January 24, 2015, 07:48:28 PM

This is plain thievery.

At this rate of 10 to 1 conversion it will take 30 years to recover the amount of the initial investment.

If BTC was regulated and a legitimate finance company did this they would be closed down.

Stay very far away from this company this is a sincere warning, this is a scam.

Have you ever invested in a stock that went down and your stock broker gave you the opportunity to swap it for a better performing stock after the fact?

No "regulated or legitimate finance company" would do that for you, but GM just did.

I would be grateful?

lol, your so right!

+1. If there is somehing sincere about that post, it's that it's sincerely stupid. Sorry to be using such words but accusing a company of thievery when you are actually being offered something for free is just plain wrong.

It is not for free you fucking moron I have already paid them in full and they kept the scrypt hardware.

Dude, you are not the only miner who has lost money in this new sector of the economy Wink

I bought 200ghs at pbmining, which went bust 2 weeks later. Hashie when bust in Janurary as well, but because I had AMhash GHs, the manufacturer rescued it's investor. Everyone, who had Gen 1 Hashie hashpower lost out. Genesis mining got 40% electricity reduction for it's customers, which is why you still have Scrypt cloud mining.

Zeus mining: all its cloud-mining customers lost everything this Janurary (10 day electricity rule). CEX.IO, all it's BTC cloudmining customers lost everything in January (10 day electricity rule). Huh

People who bought KCnminer Titans were looking at $2,500 losses (with LTC price rise, they may breakeven). Everyone who bought 750TI's and R9 290 have been mining at a "TECHNICAL LOSS" over this Winter Huh

This is what happens, when to many people think they can mine and convert into Fiat Currency e.g. they have no interest in saving their crypto currency coins.

Because, you are with a well managed company (Genesis mining), you still have cloudming hash Wink

Good point. I think a lot of people buy into the idea that the more money they pour in to mining the bigger the payout later when in actuality I've had more luck buying small increments of hash power which can reach ROI in a few months then using the mined coins to buy more. Mining is a risky business at this moment, you can either wine about it, or try to make the most of it by turning it into a learning experience.

TXTCLA55

newbie

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Quote from: Zeta0S on January 25, 2015, 10:27:27 PM

I still remember mining this way, after i got the block erupter the diff got to high in 8 weeks, i had to sell the erupters true eBay.
Cheesy

Lucky dog. I still have a USB miner after it was too hard to mine and the tech was too old to sell. Sigh, it just sits on my desk as a relic of better times.

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