Topic: Genesis-mining.com || World's leading hashpower provider! - page 79. (Read 400197 times)
Chart for mining day 9/25...
I thnk the ROI is far too long at the current rate, if the prices were dropped it might be worth it to give a shorter return.
It will never be worthwhile if you can't resell it.
Right. The only options to buy hashing where you can readily sell on exchange are Hashnest, Bit-X.com and BW.com.
And that's the only reason why I buy GHS there, not from GM ..
I thnk the ROI is far too long at the current rate, if the prices were dropped it might be worth it to give a shorter return.
It will never be worthwhile if you can't resell it.
Right. The only options to buy hashing where you can readily sell on exchange are Hashnest, Bit-X.com and BW.com.
Chart from yesterday's work paid out today...
I thnk the ROI is far too long at the current rate, if the prices were dropped it might be worth it to give a shorter return.
It will never be worthwhile if you can't resell it.
I thnk the ROI is far too long at the current rate, if the prices were dropped it might be worth it to give a shorter return.
BTC up 3% in the last week, should go some way to compensate for the 4.17% increase in difficulty, but payout was still dust today =(
Unless you don't have 0.02$ /ghs contract but 0.015 ?
The old one is 0.015, yes.
Did not know 0.02 contracts exist.
These should be now worthless, true.
Do you still get payout for your old contracts?
If my math is not total off, yes. But not 100%.
Overall payout at the moment is 89.60% of my calculation.
Think it should normalize in the next days.
I'm not paid with my older contracts. So there is a problem somewhere ^^
Unless you don't have 0.02$ /ghs contract but 0.015 ?
Do you still get payout for your old contracts?
If my math is not total off, yes. But not 100%.
Overall payout at the moment is 89.60% of my calculation.
Think it should normalize in the next days.
Another increase with the same BTC price and Difficulty...
Thanks for the clear graphics, good job and clear overview.I am happy the Payouts going up.
Bitcoin rise as well
Other good news
Estimated Next Difficulty: 58,569,702,990 (-1.29%)
@zetaos
Care to share one of you screenshots to see how hard you were hit with this payments drops
As screenshot of one of my accounds promise yesterday. Care to share one of you screenshots to see how hard you were hit with this payments drops
Do you have contracts running with 20 cents fee? Do they get paid? And whats up with this spoondolies accounts is he a user who did heavy marketing for GM?? And how can i check if i used spoondolies as a reference?
About the paymenst
Some of my payments can be found here
https://blockchain.info/address/12HSfuCFGoar5ZBwqHdpsUWprnSfSPRhJc
Another increase with the same BTC price and Difficulty...
Thanks for the clear graphics, good job and clear overview.I am happy the Payouts going up.
Bitcoin rise as well
Other good news
Estimated Next Difficulty: 58,569,702,990 (-1.29%)
@zetaos
Care to share one of you screenshots to see how hard you were hit with this payments drops
As screenshot of one of my accounds promise yesterday. Care to share one of you screenshots to see how hard you were hit with this payments drops
Do you have contracts running with 20 cents fee? Do they get paid? And whats up with this spoondolies accounts is he a user who did heavy marketing for GM?? And how can i check if i used spoondolies as a reference?
Can not complain at the moment.
Started with 75 GH/s (old contract)
Bought 250 GH/s new contract (18.09)
Last payout is 251 Sat. per GH/s.
That's okay.
The payments were down for a short time. Simultaneously there were problems with Hashnest.
But now it is running at two providers again flawlessly.
The ROI here is still 22 Months. But I do not care. GM is the long-term backup. Nothing to get rich quick.
And if the Bitcoin price rises again, the ROI is also much faster.
Perhaps the returns are not yet stunning. But we'll see what the future brings.
I'm not saying that I 100% trust GM.
But I think it is unlikely that this project suddenly ends in the next few years.
And Bitcoin-Business is always High-Risk-Investment.
There is no Magic Money Machine.
EDIT
@ Genesis-Mining
A well-intentioned tip.
Either participate in the discussion or completely stay out.
But just delete posts is a really stupid idea. You are doing yourselves any favors.
Furious and disappointed customers do not pay.
Or in other words:
When I kindly ask a question here, and this post will be deleted without comment, that raises a damn badly on you.
Don't do that.
Started with 75 GH/s (old contract)
Bought 250 GH/s new contract (18.09)
Last payout is 251 Sat. per GH/s.
That's okay.
The payments were down for a short time. Simultaneously there were problems with Hashnest.
But now it is running at two providers again flawlessly.
The ROI here is still 22 Months. But I do not care. GM is the long-term backup. Nothing to get rich quick.
And if the Bitcoin price rises again, the ROI is also much faster.
Perhaps the returns are not yet stunning. But we'll see what the future brings.
I'm not saying that I 100% trust GM.
But I think it is unlikely that this project suddenly ends in the next few years.
And Bitcoin-Business is always High-Risk-Investment.
There is no Magic Money Machine.
EDIT
@ Genesis-Mining
A well-intentioned tip.
Either participate in the discussion or completely stay out.
But just delete posts is a really stupid idea. You are doing yourselves any favors.
Furious and disappointed customers do not pay.
Or in other words:
When I kindly ask a question here, and this post will be deleted without comment, that raises a damn badly on you.
Don't do that.
Do you still get payout for your old contracts?
Yeah pls bitcoin go up fast or otherwise contracts will be terminated....
really hope diff goes down as expected would help also but the price needs to rise 5-10%
Another increase with the same BTC price and Difficulty...
Thanks for the clear graphics, good job and clear overview.I am happy the Payouts going up.
Bitcoin rise as well
Other good news
Estimated Next Difficulty: 58,569,702,990 (-1.29%)
@zetaos
Care to share one of you screenshots to see how hard you were hit with this payments drops
As screenshot of one of my accounds promise yesterday. Care to share one of you screenshots to see how hard you were hit with this payments drops
Erratum, the current Return On Investment is 571 days (not 400 days)... worse and worse. That means that when you give one bitcoin to Genesis Mining today, if difficulty does'nt change for 571 days (lol), you will get back your bitcoin at the end of 2016 (may be for christmas who knows). If (likely) difficulty rise before these 571 days, you can consider you will never see your bitcoin again.
Good luck
Good luck
And so 4 months later..
I'm a genius (or it was obvious).
Now you can cry or try to find noobs to make this monkey business continue (ask IanFoxley and Zetaos, unofficial GM dealers
).
If they cut the price by 50% it may make sense. As it is it´s totally hopeless. Just nonsense.
One THS costs 1.8 BTC. It pays 0.0029 BTC per day. That´s 600 days at current BTC price and difficulty. Better factor in at least 50% diff increase per year. As for BTC price it could rise and it could also fall enough for your investment to evaporate. If it goes sideways the diff increase will pretty much wipe you out.
Now; at 300 dollars BTC the above pays 0.0041 BTC per day that´s 450 days. Again the diff factor comes in and uncertainty about the BTC price.
The price of the hash is simply way too high for this risk. There´s no way around it.
One THS costs 1.8 BTC. It pays 0.0029 BTC per day. That´s 600 days at current BTC price and difficulty. Better factor in at least 50% diff increase per year. As for BTC price it could rise and it could also fall enough for your investment to evaporate. If it goes sideways the diff increase will pretty much wipe you out.
Now; at 300 dollars BTC the above pays 0.0041 BTC per day that´s 450 days. Again the diff factor comes in and uncertainty about the BTC price.
The price of the hash is simply way too high for this risk. There´s no way around it.
This guy will be singing this same song in six months and twelve months when a new bunch of victims will be "rude and aggressive". I was warning about this shit early in the year. It´s always the same story. People just believe what they WANT to believe even if it´s tripe and hot air and hype like this co. is known for.
Certainly +1.
But, it took some people. including me, some time to do the math. It didn't help that GM did not respond quickly to people asking wth was going on. In fact, it took them a day or four. Then when they did respond, everybody was pissed already, and then pissed off some more, because GM just bluntly stated the math, it did not feel like they were feeling for their customers. If I were GM I'd notify anybody right away about their contract not turniing a profit anymore, as a courtesy and to prevent having to explain everything later.
And of course, some people are just crude and rude. The unfortunate thing is, they tend to post a lot. Unlike you.
But, it took some people. including me, some time to do the math. It didn't help that GM did not respond quickly to people asking wth was going on. In fact, it took them a day or four. Then when they did respond, everybody was pissed already, and then pissed off some more, because GM just bluntly stated the math, it did not feel like they were feeling for their customers. If I were GM I'd notify anybody right away about their contract not turniing a profit anymore, as a courtesy and to prevent having to explain everything later.
And of course, some people are just crude and rude. The unfortunate thing is, they tend to post a lot. Unlike you.
Everytime payouts go down or to 0 people start yelling "scam" and "ponzi".
Having lived through GAW, Hashie, BCS and AMHash I know there are in fact scams running in cloud mining.
I do NOT believe GM is either a "scam" or a "ponzi" operation. I currently have two accounts through GM.
One is 15 Ths through GM the other is 31 Ths through GM-Spondoolies. My Spondoolies account went to 0 payouts
and is now paying "crap". I began to wonder what the heck is going on?? I then did the math.
I'm not a victim of some fraud by GM. I'm a victim of BTC price, Maintenance fees, and BTC difficulty. As a result I
stand to loose $12,000 USD in my GM-Spondoolies account. Does GM owe me or anyone else on this Forum a refund, absolutely NOT.
You and I bought a product, and some like me spent thousands of dollars. It could and has gone bad live with it. If you can't
handle the problems inherent in BTC cloud mining, here's a thought don't do cloud mining.
Will I still buy contracts from GM, yes. Will I ever again buy a contract from GM-Spondoolies, no way in hell.
What would I like to see. The GM-Spondoolies accounts drop maintenance fees for existing accounts, say to .0015/Ghs USD or give us the option
to convert some percentage of our Spondoolies contracts to GM.
What am I also going to do. Yesterday my contractor installed 60 Solar Panels on my home which will produce 17 kw. This is classified as
an industrial scale Solar installation. When the contractor asked why I needed such a large installation (roughly 3 times the usual residential installation)
I took him down to my basement and showed him my 7 LTC miners that have been powered down for about a year.
Once I get a building inspector sign off and my net metering meter installed I start turning stuff on.
Then I begin buying about 5 S7's. As time going on I will probably have to buy an additional S7 or something better each year, just to compensate for the difficulty rise.
So lesson for all of us. Learn from our mistakes, accept we will make mistakes and lose money. Hopefully, make some money.
If you can't take it or afford it get out of the BTC business/hobby or whatever.
Having lived through GAW, Hashie, BCS and AMHash I know there are in fact scams running in cloud mining.
I do NOT believe GM is either a "scam" or a "ponzi" operation. I currently have two accounts through GM.
One is 15 Ths through GM the other is 31 Ths through GM-Spondoolies. My Spondoolies account went to 0 payouts
and is now paying "crap". I began to wonder what the heck is going on?? I then did the math.
I'm not a victim of some fraud by GM. I'm a victim of BTC price, Maintenance fees, and BTC difficulty. As a result I
stand to loose $12,000 USD in my GM-Spondoolies account. Does GM owe me or anyone else on this Forum a refund, absolutely NOT.
You and I bought a product, and some like me spent thousands of dollars. It could and has gone bad live with it. If you can't
handle the problems inherent in BTC cloud mining, here's a thought don't do cloud mining.
Will I still buy contracts from GM, yes. Will I ever again buy a contract from GM-Spondoolies, no way in hell.
What would I like to see. The GM-Spondoolies accounts drop maintenance fees for existing accounts, say to .0015/Ghs USD or give us the option
to convert some percentage of our Spondoolies contracts to GM.
What am I also going to do. Yesterday my contractor installed 60 Solar Panels on my home which will produce 17 kw. This is classified as
an industrial scale Solar installation. When the contractor asked why I needed such a large installation (roughly 3 times the usual residential installation)
I took him down to my basement and showed him my 7 LTC miners that have been powered down for about a year.
Once I get a building inspector sign off and my net metering meter installed I start turning stuff on.
Then I begin buying about 5 S7's. As time going on I will probably have to buy an additional S7 or something better each year, just to compensate for the difficulty rise.
So lesson for all of us. Learn from our mistakes, accept we will make mistakes and lose money. Hopefully, make some money.
If you can't take it or afford it get out of the BTC business/hobby or whatever.
January 31, 2015:
Striking a positive note on the future of an industry which has been in turmoil over recent months, Streng claims that his company is currently in a “favourable position”. They could keep operating even if the price of btc were to fall as low as $100 USD.
https://www.cryptocoinsnews.com/cloud-mining-will-profit-bitcoin-price-rise-says-genesis-ceo/
August 25, 2015:
Assuming you're getting a good deal on electricity — and ignoring all other costs — Streng says one bitcoin currently costs about $60 to mine. For reference, one bitcoin is currently worth $235. But, when you factor in hardware, production costs, staffing, and more, "one is able to mine a Bitcoin for about 20% less than its current price."
http://uk.businessinsider.com/photos-iceland-bitcoin-mine-genesis-mining-cloud-2015-8
100-190 in seven months. Quite a jump huh? I wonder what caused it. Difficulty is up over the period but hardly by 90%. Maybe it´s "rude and aggressive" to ask
Striking a positive note on the future of an industry which has been in turmoil over recent months, Streng claims that his company is currently in a “favourable position”. They could keep operating even if the price of btc were to fall as low as $100 USD.
https://www.cryptocoinsnews.com/cloud-mining-will-profit-bitcoin-price-rise-says-genesis-ceo/
August 25, 2015:
Assuming you're getting a good deal on electricity — and ignoring all other costs — Streng says one bitcoin currently costs about $60 to mine. For reference, one bitcoin is currently worth $235. But, when you factor in hardware, production costs, staffing, and more, "one is able to mine a Bitcoin for about 20% less than its current price."
http://uk.businessinsider.com/photos-iceland-bitcoin-mine-genesis-mining-cloud-2015-8
100-190 in seven months. Quite a jump huh? I wonder what caused it. Difficulty is up over the period but hardly by 90%. Maybe it´s "rude and aggressive" to ask
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