Genesis-mining.com || World's leading hashpower provider! - page 43.

Zeta0S

legendary

Activity: 1890

Merit: 1031

Quote from: bapparabi on February 15, 2016, 11:53:10 AM

Right now its not worth to buy Ethereum Cloud Mining from Genesis Mining as cost is quite high

1 MH/s cost USD 44 for one year

if you see this ether calculator

http://badmofo.github.io/ethereum-mining-calculator/

Month 0.991780 $5.14

you will generate this amount ..

so you need 9 month to get ROI ..so which is not worth to buy it right now as per the price rate ..

Once it lower you can decide ..

There is a good change Ethereum is gonna explode in price, than this calculation would be different right...

Icon

hero member

Activity: 821

Merit: 503

Quote from: netpeak on February 15, 2016, 07:05:51 AM

can anybody give some advice on the following problem ?

I invested only small amounts in GM over the last 7 months, so I received lots of small payouts with amounts between 0.00020000 btc and 0.00080000 btc . Now, trying to move funds from the web wallet I used to collect them results in ridiculously high transaction fees. I am in contact with the wallet provider but also like to ask you cloudminers here how you handle your payouts. Is anybody experiencing similar problems when moving funds from an address with let's say 170 inputs ?

After noticing the issue I immediately created a new address and repeated this twice during the last month. Trying to move the funds with those 30 inputs also results in a large transaction, hence high transaction fees.

How do you guys handle lots of small inputs from your mining payouts ?

Those inputs don't cost you anything, thats Genesis paying 1 to many, they send out 1 payment daily to 1000 of us each taking a small part of the pie:)

Same goes for other mining pools that pay daily..

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Makingsure

member

Activity: 140

Merit: 10

Judge a Man not by his postcount,but by activity

Quote from: j33hopper on February 15, 2016, 02:52:05 PM

Quote from: bapparabi on February 15, 2016, 11:53:10 AM

Right now its not worth to buy Ethereum Cloud Mining from Genesis Mining as cost is quite high

1 MH/s cost USD 44 for one year

if you see this ether calculator

http://badmofo.github.io/ethereum-mining-calculator/

Month 0.991780 $5.14

you will generate this amount ..

so you need 9 month to get ROI ..so which is not worth to buy it right now as per the price rate ..

Once it lower you can decide ..

Wow, those prices have skyrocketed. I know ether has gone up recently on the exchanges, but Genesis has really gotten greedy here in a SHORT time. Just 2 weeks ago it was 1799.00 for 1 year of mining and now its 4400.00. Thats pretty rough. What makes it even less of a value is the difficulty has also gotten a bit harder, so that 100 MH at one year isnt even paying off like it was because everyone is jumping on the Ether bandwagon. Buyer beware on this deal.

AGREED ;\ but hey maybe it's a hail mary to make some cash because none of us original users came back with our money to keep them going! which would be awesome, they screwed us all what do they expect? us to give them our btc again? no way!
r.i.p. Genesis Ripoffs

j33hopper

newbie

Activity: 17

Merit: 0

Quote from: bapparabi on February 15, 2016, 11:53:10 AM

Right now its not worth to buy Ethereum Cloud Mining from Genesis Mining as cost is quite high

1 MH/s cost USD 44 for one year

if you see this ether calculator

http://badmofo.github.io/ethereum-mining-calculator/

Month 0.991780 $5.14

you will generate this amount ..

so you need 9 month to get ROI ..so which is not worth to buy it right now as per the price rate ..

Once it lower you can decide ..

Wow, those prices have skyrocketed. I know ether has gone up recently on the exchanges, but Genesis has really gotten greedy here in a SHORT time. Just 2 weeks ago it was 1799.00 for 1 year of mining and now its 4400.00. Thats pretty rough. What makes it even less of a value is the difficulty has also gotten a bit harder, so that 100 MH at one year isnt even paying off like it was because everyone is jumping on the Ether bandwagon. Buyer beware on this deal.

bapparabi

hero member

Activity: 826

Merit: 1000

Right now its not worth to buy Ethereum Cloud Mining from Genesis Mining as cost is quite high

1 MH/s cost USD 44 for one year

if you see this ether calculator

http://badmofo.github.io/ethereum-mining-calculator/

Month 0.991780 $5.14

you will generate this amount ..

so you need 9 month to get ROI ..so which is not worth to buy it right now as per the price rate ..

Once it lower you can decide ..

crazyivan

legendary

Activity: 1652

Merit: 1007

DMD Diamond Making Money 4+ years! Join us!

Quote from: netpeak on February 15, 2016, 07:05:51 AM

can anybody give some advice on the following problem ?

I invested only small amounts in GM over the last 7 months, so I received lots of small payouts with amounts between 0.00020000 btc and 0.00080000 btc . Now, trying to move funds from the web wallet I used to collect them results in ridiculously high transaction fees. I am in contact with the wallet provider but also like to ask you cloudminers here how you handle your payouts. Is anybody experiencing similar problems when moving funds from an address with let's say 170 inputs ?

After noticing the issue I immediately created a new address and repeated this twice during the last month. Trying to move the funds with those 30 inputs also results in a large transaction, hence high transaction fees.

How do you guys handle lots of small inputs from your mining payouts ?

You dont. Cause you probably have 60 cents in total in your wallet. So why bother about it?

netpeak

newbie

Activity: 25

Merit: 0

can anybody give some advice on the following problem ?

I invested only small amounts in GM over the last 7 months, so I received lots of small payouts with amounts between 0.00020000 btc and 0.00080000 btc . Now, trying to move funds from the web wallet I used to collect them results in ridiculously high transaction fees. I am in contact with the wallet provider but also like to ask you cloudminers here how you handle your payouts. Is anybody experiencing similar problems when moving funds from an address with let's say 170 inputs ?

After noticing the issue I immediately created a new address and repeated this twice during the last month. Trying to move the funds with those 30 inputs also results in a large transaction, hence high transaction fees.

How do you guys handle lots of small inputs from your mining payouts ?

IanFoxley

legendary

Activity: 910

Merit: 1000

Quote from: alienesb on February 13, 2016, 06:05:39 PM

Quote from: btcgnome on February 13, 2016, 05:07:03 PM

It looks like ethereum contracts are back...but I think now we are getting stiffed. The price has more than doubled. Before you could buy a 55 MH/s contract for under $1000 USD. Now the cost is about $2420 USD.

Anyone else not liking this price change? It is very suspicious how suddenly when the demand was high ethereum purchases were taken down and then come the price hike.

That's nuts. Buy yourself two R9 290s or 390s and you'll be able to mine at that speed and actually sell the cards later on to recover quite a bit of their purchase price cutting your "ROI" time in half or more.

Yeh, it is abit weird, but nobody is forcing you to buy any, I personally think the pricing is a little high now so I would not be tempted to get any.

alienesb

hero member

Activity: 868

Merit: 1000

Quote from: btcgnome on February 13, 2016, 05:07:03 PM

It looks like ethereum contracts are back...but I think now we are getting stiffed. The price has more than doubled. Before you could buy a 55 MH/s contract for under $1000 USD. Now the cost is about $2420 USD.

Anyone else not liking this price change? It is very suspicious how suddenly when the demand was high ethereum purchases were taken down and then come the price hike.

That's nuts. Buy yourself two R9 290s or 390s and you'll be able to mine at that speed and actually sell the cards later on to recover quite a bit of their purchase price cutting your "ROI" time in half or more.

btcgnome

member

Activity: 66

Merit: 10

Quote from: Zeta0S on February 10, 2016, 02:45:44 PM

I hope the new Ethereum Contracts come available soon. Ether is preforming so well the last weeks

http://coinmarketcap.com/currencies/ethereum/

It's available now. You're gonna shoot yourself in the head when you see the price per MH/s.

btcgnome

member

Activity: 66

Merit: 10

It looks like ethereum contracts are back...but I think now we are getting stiffed. The price has more than doubled. Before you could buy a 55 MH/s contract for under $1000 USD. Now the cost is about $2420 USD.

Anyone else not liking this price change? It is very suspicious how suddenly when the demand was high ethereum purchases were taken down and then come the price hike.

julian071

hero member

Activity: 1132

Merit: 818

Quote from: Zeta0S on February 13, 2016, 02:25:10 PM

What kind of messages would be here if bitcoin has hit a 1000 dollars for the last 6 months...

Of course, shit happens, and when it does, people will complain. And some will complain no matter what, but for the reasonable majority, a lot will depend on how GM will respond. I hope they learned something from the last time this happened. They didn't really seem to care about their customers, because they seem to see them just as that - customers. Not partners in a joint investment. I think the silence on their part right now is telling.

The first time this happened, when Scrypt collapsed, they did offer a 'douceur', which showed they at least felt our pain a little. I personally just see that Scrypt investment as an investment gone sour, just bad luck, no hard feelings. But the second time, when some SHA256 contracts were canceled, I was very disappointed in GM's reaction, and still am.

alienesb

hero member

Activity: 868

Merit: 1000

Quote from: CjMapope on February 13, 2016, 02:46:11 PM

Quote from: Zeta0S on February 13, 2016, 02:25:10 PM

What kind of messages would be here if bitcoin has hit a 1000 dollars for the last 6 months...

pfft, they would have found another way to null everyone's contracts ;\ it's their business model
dude, you prob lost as much if not more than 80% of people how can u shill for them so hard?
i GUARANTEE, if you would have put that money into another provider such as hashnest
and upgraded your hardware cloud-wise with them as is possible
you would have more btc in your pocket than you do today (we all would), AND STILL own performing hash in the cloud
they nuke everything on here, (prob this too), and newcomers should stay away, that simple.
those who got burned of us know now, we will not be back (not me anyways)

I gotta say I believe you are right

CjMapope

legendary

Activity: 1820

Merit: 1092

~Full-Time Minter since 2016~

Quote from: Zeta0S on February 13, 2016, 02:25:10 PM

What kind of messages would be here if bitcoin has hit a 1000 dollars for the last 6 months...

pfft, they would have found another way to null everyone's contracts ;\ it's their business model
dude, you prob lost as much if not more than 80% of people how can u shill for them so hard?
i GUARANTEE, if you would have put that money into another provider such as hashnest
and upgraded your hardware cloud-wise with them as is possible
you would have more btc in your pocket than you do today (we all would), AND STILL own performing hash in the cloud
they nuke everything on here, (prob this too), and newcomers should stay away, that simple.
those who got burned of us know now, we will not be back (not me anyways)

Zeta0S

legendary

Activity: 1890

Merit: 1031

What kind of messages would be here if bitcoin has hit a 1000 dollars for the last 6 months...

kanazawa

hero member

Activity: 756

Merit: 500

I have a lifetime contract with Genesis Mining, but even paying +U$400 in october, until this moment I just received U$126. And my returns are stopped since a week ago, support tells that in 24h they will respond, but more than that has passed and nothing has been done. I was a very "straightforward" thinker of cloud mining in the very beginning (because I used Hashnest before, and sorry about the comparison, but they are pretty much accessible and ROI it's much better and quicker than GM.. sorry about that, but it's my own vision, and I'm inside of that... I paid 3x more than it ROI, so I'm very unsatisfy).... How can I reach what I invested if you don't even pay more than 20 cents a day? Calculation was not even close to that in the beginning of the contract, and even a physical miner (without counting the electicity costs) gives back ~U$40 in a month... Is that a "risky investment" or it's a "scam investment"? I'm not affirming this, I'm just asking, because there's lot of user here in the forum who mockin' about who's telling "a GM user" with a significantly pride of being a cloud mining user...

BitcoinNewsMagazine

legendary

Activity: 1806

Merit: 1164

At the moment with significant difficulty increases but stable bitcoin price there is really no hosted bitcoin provider with a product worth buying. Remember the block halving is coming up about July. This summer there may be more efficient miners and the situation may change. I got out of all my mining contracts at Hashnest early last month. The most interesting action I see right now is trading Ether. I would not bother with hosted mining at present at all.

Digitalbitcoin

hero member

Activity: 1568

Merit: 502

I found few PROS of Genesis mining :

- Fast, easy and free signup
- Investments as low as 20 GHS / 1 MHS
- Mine your own Altcoin portfolio
- Two factor authentication
- Referral / promo code system

Zeta0S

legendary

Activity: 1890

Merit: 1031

My GPU rig died last week due to wind and rain true the air outtake.
Seems the motherboard is dead and one GPU is visible burned. hope the other 4 cards are still oke.
Need to rebuild the rig this weekend.

julian071

hero member

Activity: 1132

Merit: 818

Yup, it's actually worthwhile to mine with a GPU at home!

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