Topic: Genesis-mining.com || World's leading hashpower provider! - page 60. (Read 400228 times)

Hmmm, expect payments bit higher.

well, at first i thought i already close to halve way. Recalculating seems i took the numbers from my second GM account whit a higher amount of X11.  

I am at roughly 14% Whit X11, how long it still takes? To hard to guess, payments are good however.

Cool. Heheh the maintenance fee must be a pain in the neck for those SHA-256er's.
Could you also tell me the average number of days it takes to break even (on X11)?

X11 for sure. No fee. Got a lot of fun mining X11.

Is there anyone who bought both the X11 and the SHA-256 contracts and is willing to share what plan is better in terms of ROI?
AFAIK, the X11 contract has no maintenance fee but only lasts for a year...

Please help me decide which plan I should get

Brilliant, cheers.  Thought it would have something to do with the 2FA as it only happens just after I enabled it, I will reach out to support thanks for your help.

I had this issue once and it was related to 2FA so you will need to contact their support and they can fix it.

Also try getting through to their support here
http://genesismining.freshdesk.com/support/home

What they also told me to do was to delete cookies related to Genesis Mining and also there was something with my browser cache I had to do as well.

Anybody else getting an issue when trying to access the site?
i get This webpage has a redirect loop when I go to the login screen and can't reach out to their support, I am using Chrome

yes 70 ghash are old and forever.

200 are new and at the lower rate.  That make more sense on the daily fluctuations based on the value of BTC being deducted for the fees.  So the higher the BTC rate the less impact there is on the payout.

I still think if you are buying in to just buy BTC and play the money market with it and you would likely make more :-)

Fahlcor

The drop on Mining Day 24.11.2015 was because of the difficulty change. The increases from the 26th etc are because the value of Bitcoin rose and this affects the payout.

With SHA 256 contract, you have to take into account the maintenance fees that gets deducted from the payout each day. When Bitcoin goes up in price then the amount of Bitcoin that gets removed from your fee gets less and also alternatively when Bitcoin goes down in price against USD and other currencies like Euro and Pounds etc then the amount of Bitcoin that gets removed for the fee increases.

You must have different types of contracts in your account. You can not have all of your 270GH/s at the 0.0012 USD per GH/s fee rate so you must have either older contracts too with 0.0015 USD per GH/s as part of your 270GH/s or you have also bought with a Credit Card and some of your payouts are being held in the pending balance for 30 days etc.

The reason I write this is because for example if I take your payout after the difficulty change which was 0.00063315 and divide that by 270 as you write that you have 270GH/s I get 234.5 satoshi per GH/s.

But if I take my payout which i know is 50GH/s for the same day I get a total of 315.46 satoshi per GH/s or for 270 GH/s would be a payout of around 0.00085174 BTC

It is only SHA 256 contracts that have a maintenance fee, X11 contracts do not as you have paid that upfront already when you purchased the hashpower contract.

What do you attribute the drops on the 24/25 to then?  and why the increase on the 26?

Seems like they changed their math or something on the payouts.

Also I have added some GH and found that payout jumped more than expected once I was about 100 GH.  I have 270 GH and I'm receiving this in the last few days

29.11.2015     BTC     0.00071837
28.11.2015     BTC     0.00070094
27.11.2015     BTC     0.00070145
26.11.2015     BTC     0.00068517
25.11.2015     BTC     0.00063731
24.11.2015     BTC     0.00063315
23.11.2015     BTC     0.00078053
22.11.2015     BTC     0.00077568

my last purchase was on Nov 15.  This was not meant to be a positive or negative comment just something I noticed.

and yes x11 is all over the place and makes no sense.

Fahlcor

I have a feeling it will settle on around 7-8% as Bitcoin Wisdom always gives dramatic increase predictions for the first week or so and then it settles down nearer the time.

It has fell even more since your last post.

Edit: Now risen again...Wish it would hurry up and make up it's mind.

But anyway difficulty increases suck no matter what..

Edit 6th December: Looks like its probably gonna settle somewhere between mid 8% and mid 9%, but I was not far off, the only positive is that it will not be as high as it was showing earlier, highest I saw was almost 13% and BTC price has gone up abit. Although this could just be people pumping it to get some FIAT to use for Xmas money and then we could be in for a dump again. With Crypto you can never be too sure.

Ian

Estimated next difficulty : 79,427,951,326 (+9.22%)

Will be harder and harder to ROI anything as I said.

In the opposite : if you kept your BTC in your wallet, yor could now sell it with 10% profit with the increase of these last days..

I like their service and I like the concept of cloud mining. It leads to large amounts of ppl actually having a bitcoin-income and therefore, ppl having BTC to spend and do stuff with.

But profitable? No. It can only be profitable if the price rises and difficulty stays behind. That does seem quite improbable. Moreover, if BTC price were to rise, you are better off just buying BTC now and saving it for later. You have the added bonus of being able to react to major incident quickly.

After a year with Genesis I did my math, and in hindsight I should've just bought (or rather kept) my BTC a year ago. At least from an investor's point of view. I do like 'working' with BTC and having a BTC-income tho, so it's not all bad. But in the end, I'm no charity.

The investment I made with Megamine on the other hand has yielded quite a return, so it must be possible in principle to offer a cloud mining service that is also of financial benefit to the customers. However, they don't offer the all inclusive contracts anymore that I bought a year ago.

Edit: corrected 'probable' to 'improbable' haha

I agree with @IanFoxley, the SHA256 contracts are very sensitive to difficulty.  They track along with the BTC price until the difficulty changes.

Up to 11/29/2015

i disagree.

Below are payouts for 50 GH/s  SHA 256 from one day before last difficulty change till now. Payouts based on 0.0012 USD per GH/s fee.

Payout before difficulty
Mining Day 23.11.2015   0.00019439 BTC

Payout after difficulty
Mining Day 24.11.2015  0.00015773
Mining Day 25.11.2015  0.00015877
Mining Day 26.11.2015  0.00017065
Mining Day 27.11.2015  0.00017470
Mining Day 28.11.2015  0.00017457

So looking at that, where is the payout that is actually 10% higher than it was before the difficulty change?  Payout before the change was 0.00019439 and last payout was 0.00017457
I would say that payouts have decreased since the difficulty change.

The payouts have rose in the last few days since the difficulty change because BTC price has been slowly moving up again.

Here are the payouts for contracts with 0.0015 USD per GH/s fees. Again based on 50GH/s

Payout before difficulty
Mining Day 23.11.2015   0.00014801 BTC

Payout after difficulty
Mining Day 24.11.2015  0.00011098
Mining Day 25.11.2015  0.00011241
Mining Day 26.11.2015  0.00012272
Mining Day 27.11.2015  0.00013280
Mining Day 28.11.2015  0.00013228

Again..where is the 10% rise on SHA.

If you are referring to your X11 payouts, again, that has nothing to do with SHA. BTC (AUTO) is based on mining most profitable X11 coins and then those are traded at payout time to BTC, so if those X11 coins mined go up in value against BTC, then so does your payouts.

BTC difficulty does not really have an effect on X11 mining but BTC value can.

For example when BTC price went up to almost 500 USD recently, the prices of most coins fell against BTC. Litecoin rose a little but apart from that most coins fell in value. Dashcoin and Start fell alot in value during the rise and the reason for this was most likely that people that had lots of coins they were holding,  saw the price of BTC rise and then traded all their coins to BTC when they could as nobody had any idea where the price of BTC was going to go to. So lots of coins being traded meant that they were being dumped on the market so their value decreased so when those with X11 using BTC (AUTO) were getting their daily payouts, the amount of BTC they were getting fell.

In one of the links above you can see what has happened to Start and Dashcoin value over time.

Payouts for GM have been higher since the last 10% increase on SHA .  maybe they have the math backwards :-)

Glucose is posting on his thread that lots of customers are very unhappy about their X11 payouts and they are going down all the time...  

After looking through here, I am still trying to work out who the lots are, can only see a few and it only seems to be his posts and Galdurs posts that are being deleted (2 people) and when you have thousands of customers then yeh, you always get a few unhappy ones.

Anyway I thought i would post this below so that of you who are in the "Why are my X11 payouts going down" category can understand a little bit more.

If you look here https://www.coingecko.com/en/price_charts/startcoin/btc/60_days

and here https://www.coingecko.com/en/price_charts/dash/btc/60_days
 
You will see that both Dashcoin and Startcoin are going down in value all the time so those coins are traded to BTC each day then you get less back all the time. That is how it is unfortunately.

Its very simple to understand once you realise why. It is not GM doing this, it's what happens when you mine and GM is providing you with mining hashpower, nothing more and nothing less. If you were mining at home with X11 with your GPU then the same thing happens.

GM is not turning on a tap and making those payouts get lower on purpose.

It is because those coins that are being mined are losing value. When people invest they should always take the time to do research and if they did they would realise that at the moment their BTC payouts could go down because X11 coins are going down in relation to BTC. It is not different to those mining with X11 on other pools.. their daily payout goes down too..Startcoin had a block halving recently as well and that affects the amount you get mining each day if you are mining Startcoin on its own.

If you are mining X11 coins directly, you get around the same each day as if you had your own GPU set up on a pool mining Dash and Start directly. Then you have to decide what to do, dump them and that makes the price go down or hold onto them and hope the price rises in the future so you can sell them at better price.

There really is nothing complicated about it.

But if people just blindly invest thinking that they always will make money and mining with Crypto is like magic money then unfortunately that is never the case.

Well in that case I must also work for Hashnest and Mining Sweden, Zeushash and all the other companies i invest money into over the time. Oh and ScryptCC ..work for them too, not a nice company to work for mind you. Owner doesnt pay me...not a nice boss.

But seriously think about it, do you think if i worked for GM, i would be posting videos about other companies and what they offer?

It would be like you accusing me of working for Apple when I post videos about Samsung Galaxy phones or Microsoft Surface products and HTC Android phones.