Topic: Genesis-mining.com || World&#039;s leading hashpower provider! - page 247. (Read 400219 times)

Quote from: ranlo on May 19, 2014, 01:58:07 AM

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.

Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess

I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

unfortunately you cannot calculate like that. the difficulty is increasing, especially now the new ASIC for scrypt coins are coming.

True but if they implement the ability to mine what you want, you can mine the less profitable/newer coins before the ASICs hit them and make massive profit if they hit an exchange.

yet now GM only supports ltc and doge...

You can mine LTC or doge directly but you can also set it to mine, a bit like a multipool, where it will mine the most profitable scrypt coins and then pay you each day as BTC.

Today I had an update to the interface so I can also choose to allocate hash power to Lotto Coins, Feather Coins, Auroracoins as well if you just want to mine those.

aasl

sr. member

Activity: 476

Merit: 250

Quote from: aasl on May 19, 2014, 01:50:02 AM

Quote from: Genesis-Mining on May 19, 2014, 03:47:35 AM

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.

Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess

I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

unfortunately you cannot calculate like that. the difficulty is increasing, especially now the new ASIC for scrypt coins are coming.

True but if they implement the ability to mine what you want, you can mine the less profitable/newer coins before the ASICs hit them and make massive profit if they hit an exchange.

yet now GM only supports ltc and doge...

IanFoxley

legendary

Activity: 910

Merit: 1000

Hey all, to catch up on the recent posts:

We do not mine btc! We are only mining scrypt coins and only offering this service at the moment. We are looking into options to add other algo's like X11 aswell, but other things are priorized higher on our list right now.
Also on our list, but also on lower prio right now, is the possibility to add your own pools you want to have the hashpower pointed to.

For both we have no ETA at all right now, but we will publicly state as soon as we have progress.

Thanks for the update

Genesis-Mining

sr. member

Activity: 430

Merit: 250

Hey all, to catch up on the recent posts:

We do not mine btc! We are only mining scrypt coins and only offering this service at the moment. We are looking into options to add other algo's like X11 aswell, but other things are priorized higher on our list right now.
Also on our list, but also on lower prio right now, is the possibility to add your own pools you want to have the hashpower pointed to.

For both we have no ETA at all right now, but we will publicly state as soon as we have progress.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: aasl on May 19, 2014, 01:50:02 AM

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.

Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess

I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

unfortunately you cannot calculate like that. the difficulty is increasing, especially now the new ASIC for scrypt coins are coming.

True but if they implement the ability to mine what you want, you can mine the less profitable/newer coins before the ASICs hit them and make massive profit if they hit an exchange.

aasl

sr. member

Activity: 476

Merit: 250

Quote from: ranlo on May 19, 2014, 01:04:49 AM

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.

Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess

I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

unfortunately you cannot calculate like that. the difficulty is increasing, especially now the new ASIC for scrypt coins are coming.

IanFoxley

legendary

Activity: 910

Merit: 1000

Quote from: IanFoxley on May 19, 2014, 12:57:14 AM

Quote from: IanFoxley on May 19, 2014, 12:57:14 AM

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.

Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess

I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

Yes and BTC might go up in price again as well or go down a bit more. Also more people will be mining using asics so the difficulty will go up so might mean less money for me each month.
In an interview that was posted earlier, a representative of GM did say they were thinking about introducing montly rental soon. That looks quite good to me also.

In the interview they did say sometime in the future they would be thinking about people being able to mine other coins other than scrypt. X11 etc. This is because a lot of their infrastructure is GPU based.

That sounds cool. It's the only thing holding me back right now: not being able to speculate on coins and mine what I want.

Also, in terms of the mining, it's the Bitcoin itself you care about, because you are spending basically 0.3 BTC to get back 1 BTC (assuming everything is consistent). Don't bring USD into it because that alters everything. ie.

If you spend $450 right now to get a miner. It mines back 0.5 BTC but the price is $10,000 each. You've made $4550 ($5000-$450). But you could have spent that $450 on a Bitcoin and now you'd have made $9550 ($10000-$450).

Always keep with Bitcoin itself. Never introduce fiat because you aren't dealing with fiat.

Yeh, sorry about that.

ranlo

legendary

Activity: 1988

Merit: 1007

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.

Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess

I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

Yes and BTC might go up in price again as well or go down a bit more. Also more people will be mining using asics so the difficulty will go up so might mean less money for me each month.
In an interview that was posted earlier, a representative of GM did say they were thinking about introducing montly rental soon. That looks quite good to me also.

In the interview they did say sometime in the future they would be thinking about people being able to mine other coins other than scrypt. X11 etc. This is because a lot of their infrastructure is GPU based.

That sounds cool. It's the only thing holding me back right now: not being able to speculate on coins and mine what I want.

Also, in terms of the mining, it's the Bitcoin itself you care about, because you are spending basically 0.3 BTC to get back 1 BTC (assuming everything is consistent). Don't bring USD into it because that alters everything. ie.

If you spend $450 right now to get a miner. It mines back 0.5 BTC but the price is $10,000 each. You've made $4550 ($5000-$450). But you could have spent that $450 on a Bitcoin and now you'd have made $9550 ($10000-$450).

Always keep with Bitcoin itself. Never introduce fiat because you aren't dealing with fiat.

IanFoxley

legendary

Activity: 910

Merit: 1000

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.

Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess

I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

Yes and BTC might go up in price again as well or go down a bit more. Also more people will be mining using asics so the difficulty will go up so might mean less money for me each month.
In an interview that was posted earlier, a representative of GM did say they were thinking about introducing montly rental soon. That looks quite good to me also.

In the interview they did say sometime in the future they would be thinking about people being able to mine other coins other than scrypt. X11 etc. This is because a lot of their infrastructure is GPU based.

Would just like to add that if you choose the BTC payment option then instead of paying 180USD a year for 1mhash, at the moment it is 0.4BTC

ranlo

legendary

Activity: 1988

Merit: 1007