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Topic: Genesis-mining.com || World's leading hashpower provider! - page 248. (Read 400219 times)

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 Smiley
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.  Smiley

In one of the interviews I heard, they use a multipool, not sure which one for the mining and then convert it to BTC and send it out once a day. That's if you choose the auto option or you can set it up to do dogemining or Ltc mining. I know soon they will be introducing a system where you can choose more types of coins to mine and also thinking about having a pool which is for genesis miners only but will be set up like a multi pool also I think.

I am sure someone from Genesis Mining will read this and clarify that.
sr. member
Activity: 476
Merit: 250
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 Smiley
legendary
Activity: 1988
Merit: 1007
Are there any plans to allow custom pools in the future, so that people can mine whatever they want instead of just what you offer?
legendary
Activity: 910
Merit: 1000
http://www.cryptoarticles.com/crypto-news/2014/5/18/genesis-mining-start-mining-for-as-low-as-14-cents-per-kilohash-bitcoin-2014-interview#

I did an interview with Jan from Genesis-Mining at Bitcoin 2014, you guys should read it, awesome stuff in there Smiley

Thanks for the link and great interview, thanks Smiley
legendary
Activity: 1596
Merit: 1010
http://www.cryptoarticles.com/crypto-news/2014/5/18/genesis-mining-start-mining-for-as-low-as-14-cents-per-kilohash-bitcoin-2014-interview#

I did an interview with Jan from Genesis-Mining at Bitcoin 2014, you guys should read it, awesome stuff in there Smiley
full member
Activity: 162
Merit: 100
At the moment its best to contact us via email, we are still enhancing the customer service side of our operations.


Prices dropped! Start mining at 0.14usd per Kh/s per year!
Existing customers got compensation hashpower on top - for free!


That will be great if customer service will be excellent. Looking forward for that development. Smiley
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.
sr. member
Activity: 476
Merit: 250
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?
full member
Activity: 130
Merit: 100
I have found that payment will be made within 24 hours. How can i make my withdraw? What are the procedures?

The procedure is very easy! As soon as we receive your payment you directly start mining! The mined coins will be paid out every day one time to the payout addresses you provide!
Thanks for your information. It seems great offer to me.
sr. member
Activity: 430
Merit: 250
I have found that payment will be made within 24 hours. How can i make my withdraw? What are the procedures?

The procedure is very easy! As soon as we receive your payment you directly start mining! The mined coins will be paid out every day one time to the payout addresses you provide!
full member
Activity: 130
Merit: 100
I have found that payment will be made within 24 hours. How can i make my withdraw? What are the procedures?
sr. member
Activity: 430
Merit: 250
The team has spent a lot of time to reduce all types of failures and we have invested significant amounts in our infrastructure.

The number of failures we observe is minimal and is quickly detected by our algorithms. In the grand scheme of things costs for compensating failures is negligible.

So in short: there is no guarantee, but just a "best effort". We want to deliver an excellent product to our client and 100% uptime is an important part of it.
sr. member
Activity: 476
Merit: 250
Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.

I'd like to know this as well. Also, it says there are no hidden fees and doesn't ever mention electricity. Does this mean that there are no costs for electric, no management costs, etc.?


Yes, both electricity and maintenance costs are included in the price! Also we paid out 100% uptime and covered hashrate drops with our own farm as a buffer from the beginning of our operation starting at the beginning of this year!

where can I find such guaranteed protections from your terms and conditions?
legendary
Activity: 1988
Merit: 1007
Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.

I'd like to know this as well. Also, it says there are no hidden fees and doesn't ever mention electricity. Does this mean that there are no costs for electric, no management costs, etc.?


Yes, both electricity and maintenance costs are included in the price! Also we paid out 100% uptime and covered hashrate drops with our own farm as a buffer from the beginning of our operation starting at the beginning of this year!

This is an awesome deal then. Thanks for the quick response!
sr. member
Activity: 430
Merit: 250
Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.

I'd like to know this as well. Also, it says there are no hidden fees and doesn't ever mention electricity. Does this mean that there are no costs for electric, no management costs, etc.?


Yes, both electricity and maintenance costs are included in the price! Also we paid out 100% uptime and covered hashrate drops with our own farm as a buffer from the beginning of our operation starting at the beginning of this year!
legendary
Activity: 1988
Merit: 1007
Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.

I'd like to know this as well. Also, it says there are no hidden fees and doesn't ever mention electricity. Does this mean that there are no costs for electric, no management costs, etc.?
sr. member
Activity: 476
Merit: 250
Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.
legendary
Activity: 910
Merit: 1000
If you listen to interview 2, which is mentioned on the first post, there is lots of info about where the company wants to go in the future, features they are adding and also a bit about Asics etc.

I found it quite informative.

full member
Activity: 153
Merit: 100
Hi Martinnew,

thank you for your interest.

I am not sure if I do understand correctly; With using our service you have a certain amount of hashpower for the algo "scrypt" available. At the moment you can let us decide what to mine and exchange it for you to BTC, or you mine LTC or Doge directly. More coins will be added soon.

The price is always the same for the amount of hashpower, no matter what coin you like to mine with it.

Regards,
Genesis-Mining.com Team

Nice to know that the price is lowered. Hope this service will be available for more alt coins.
sr. member
Activity: 476
Merit: 250
This is some crazy pricing. If I'm reading this right, 1 MH/s would be $140 for the entire year? I paid $400 just to get my 500 KH/s video card (that costs me more every month to run)! If this is the right pricing, that is a massive deal.

How do we know you'll stay in business for the entire year though?

if they use KnC titan, the cost is about 33USD/MHash, Zeusminer around 138USD/MHash. but these are ASIC, and they are not yet in market. Using GPU costs much more than the current offered price.

Yeah, I know that the new ASICs are great. But if they are offering this service already... they must have some hardware (unless they are just hoping that the ASICs will come in before they go broke).

this is also where my doubts lie in...
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