my Annual Genesis Mining report - page 2.

mirana12345

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Quote from: StevenLiang on October 14, 2015, 11:02:07 AM

I think contract in Genesis Mining is stand for "forever".
But for sure, we really get minimum in daily profits.

They are not transparent for their Mining Pool, just from this point they can manipulative their real income from hashing with "different" report.
In their policy contract, we will not get minus profit, but if on that day "their mining" not profitable, we will not get any profit too.

zero incomes.

How can they make mining company which do not brave enough to take the consequencies.

---
At least you almost get your ROI

Best wishes for you.

~35% loss in investment is not nearly "almost" in achieving ROI, but it was expected to happen as cloud mining services were discussed thousand times, and everyone
agreed that it's a waste of both time and money. The only way to make some profit on them is when bitcoin is in a bullrun; then prices per GH (after some time lag) tend to
rise, so you can make a nice sum by trading those GH + the coins you got from the mining itself (until the time of the sale of GH's)

knowhow

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Well if they take the funds invested that arent returning even a peny and go to exchange some btc or altcoins they could pay us faster and make all happy,even being a long time on the cloud market well we dont know how many hash and their income daily because they dont wanna to say or expose.

StevenLiang

full member

Activity: 168

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I think contract in Genesis Mining is stand for "forever".
But for sure, we really get minimum in daily profits.

They are not transparent for their Mining Pool, just from this point they can manipulative their real income from hashing with "different" report.
In their policy contract, we will not get minus profit, but if on that day "their mining" not profitable, we will not get any profit too.

zero incomes.

How can they make mining company which do not brave enough to take the consequencies.

---
At least you almost get your ROI

Best wishes for you.

kpitti

legendary

Activity: 924

Merit: 1002

Quote from: GermanGiant on October 13, 2015, 05:19:59 PM

Quote from: kpitti on June 15, 2015, 12:58:32 AM

This is fact for cloud mining as I saw lot of dicsussion here around I would like to show when my contract expired.

How much hash power you bought from Genesis Mining with 0.4291 BTC ? Probably, if you risked a little and tried out little known www.CloudMining.website, you could be sitting on profit by now. A third party cloud mining monitor has reported ROI within ~114 days with www.CloudMining.website.

You may also check the full payment history here: www.cloudmining.website/payments.php

I purchased 2MH/s that time.

You can be sure that I will not put my money to some web without knowing how it works and what options I have Grin

. Of course market and Genesis-Mining is evolving and there could be new features which were not available at time I purchased and managed my contract there.

You can trust some calculators there, or you can se my payments showed here, it`s just like what you have in your wallet and what can be there. There is a lot of factors which influence the mining believe me. I am in Mining for long time Wink

GermanGiant

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Quote from: kpitti on June 15, 2015, 12:58:32 AM

This is fact for cloud mining as I saw lot of dicsussion here around I would like to show when my contract expired.

How much hash power you bought from Genesis Mining with 0.4291 BTC ? Probably, if you risked a little and tried out little known www.CloudMining.website, you could be sitting on profit by now. A third party cloud mining monitor has reported ROI within ~114 days with www.CloudMining.website.

You may also check the full payment history here: www.cloudmining.website/payments.php

knowhow

hero member

Activity: 560

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Well old investors ,besides me an smaller investor ,and recent,they should try to benefict all their members otherwise these game will be invest again and try to roi now,its the best oportunity to invest or reinvest the money from your old investment ,for me makes no sense they doing nothing to change

kpitti

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Activity: 924

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Quote from: knowhow on October 12, 2015, 08:19:30 AM

Well would be better to genesis mining take the btc invested from users and start to trade them ,those way we custumers would keep getting paid and im pretty sure they has some huge ammount that is frozen due the fact the difficulty raising and getting harder to keep mining bitcoin,soo maybe is time to they ,say hey our costumers are pissed with us ,what we can do we need to change our main focus,keep mining by themselfs and take the bitcoin invested into exchange otherwise it can be called ponzi and scam the most suceed .

It seems that they are focus on new customers, they bring a new coins and improve a new contracts they offer. When there is signed contract it`s payed already and therefore not in much focus. This is my view.

knowhow

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Activity: 560

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Well would be better to genesis mining take the btc invested from users and start to trade them ,those way we custumers would keep getting paid and im pretty sure they has some huge ammount that is frozen due the fact the difficulty raising and getting harder to keep mining bitcoin,soo maybe is time to they ,say hey our costumers are pissed with us ,what we can do we need to change our main focus,keep mining by themselfs and take the bitcoin invested into exchange otherwise it can be called ponzi and scam the most suceed .

BitcoinNewsMagazine

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Quote from: Rmcdermott927 on June 15, 2015, 11:18:57 PM

I purchased some hash at genesis a while ago because I liked the fact that they were one of the few sites that had proof of mining. Unfortunately, it seems that actually having miners makes things less profitable for all involved(the nerve). Hopefully they upgrade to some newer, more efficient hardware soon so I can buy from them again.

Buy from them again? Genesis Mining is a sieve designed to separate you from your money. The rule should be: never buy hashpower you cannot sell. The most power efficient consumer miner on the market now is Antminer's S7. Starting this weekend you can buy S7 GH/s on the Hashnest internal market. I would not jump in and buy as soon as trading starts, I expect price will come down after a few days. Plan on selling any S7 hash before the halving next July. I would be surprised if Bitmain does not have their next generation miner by then.

cryptojumper

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Quote from: kpitti on June 16, 2015, 01:37:05 AM

Quote from: Rmcdermott927 on June 15, 2015, 11:18:57 PM

I purchased some hash at genesis a while ago because I liked the fact that they were one of the few sites that had proof of mining. Unfortunately, it seems that actually having miners makes things less profitable for all involved(the nerve). Hopefully they upgrade to some newer, more efficient hardware soon so I can buy from them again.

This is good to have evidence of their own miners, I trust Genesis Mining too in respect of own HW and do mining itself.
What I am not confident at all and I would like to demonstrate here by my anual report is profitability for you who bought contract.
Do you believe that replacement of new HW will improve the situation? Difficulty is increasing and this is main factor here + on top all cost.

Don't bother to mine there, roi is non existant, they might not steal your money, but will not make you richer certainly, best you can expect there is your money back and that's it. And consider yourself lucky if you get them all back Wink

kpitti

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Quote from: Rmcdermott927 on June 15, 2015, 11:18:57 PM

I purchased some hash at genesis a while ago because I liked the fact that they were one of the few sites that had proof of mining. Unfortunately, it seems that actually having miners makes things less profitable for all involved(the nerve). Hopefully they upgrade to some newer, more efficient hardware soon so I can buy from them again.

This is good to have evidence of their own miners, I trust Genesis Mining too in respect of own HW and do mining itself.
What I am not confident at all and I would like to demonstrate here by my anual report is profitability for you who bought contract.
Do you believe that replacement of new HW will improve the situation? Difficulty is increasing and this is main factor here + on top all cost.

Rmcdermott927

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I purchased some hash at genesis a while ago because I liked the fact that they were one of the few sites that had proof of mining. Unfortunately, it seems that actually having miners makes things less profitable for all involved(the nerve). Hopefully they upgrade to some newer, more efficient hardware soon so I can buy from them again.

IanFoxley

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Quote from: kpitti on June 15, 2015, 01:53:07 PM

Yes Ian I know that you know Genesis Mining very good and I agree with you.
Can you post how profitable was your contract which you order by last May?

I can't unfortunately because I had free referral hashpower added so it kept growing but if it had not had grown then it should have been similar to yours.

I did do a set of videos from September with a one year contract for both GAW Miners and GM and as of yet, still have not made ROI on both although still getting payouts from GM every day but only for 11 GH/s as originally I had 10 GH/s Sha256 and 1 MH/s Scrypt and then scrypt went bye bye and my 1MH/s Scrypt got converted to 1GH/s SHA 256 and we all know what happened with the Gaw Miners hashlets.

Anyway with my GM contracts i paid at the time 0.05 BTC for them way back in September and so far got 0.04 BTC back.

Ian

kpitti

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Yes Ian I know that you know Genesis Mining very good and I agree with you.
Can you post how profitable was your contract which you order by last May?

IanFoxley

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Quote from: kpitti on June 15, 2015, 01:11:36 PM

Quote from: b-trading on June 15, 2015, 12:56:10 PM

Quote from: kpitti on June 15, 2015, 12:58:32 AM

Year ago, when I look for another opportunity then run own miners I found Genesis Mining with their offer to use Cloud mining in smart and diferent way to hash for mix of coins. Offer was interesting as I received like 10% discount of initial price. So make it short, this is report showing my investment and what I received as a payment during 12 month when contract was valid.

Initial investment:
0.4291 BTC

Payments by month:
0.07456656
0.04482120
0.02725750
0.02627661
0.02055218
0.01523150
0.01137384
0.00990287
0.01075219
0.01075442
0.00951173
0.01001327
0.00239668

In sum my contract finish with lost of 0.15568945 BTC.

This is fact for cloud mining as I saw lot of dicsussion here around I would like to show when my contract expired.

Genesis mining is a lifetime mining contract not only in just a year or five years...but it is mining forever

OK, I do not care too much if contract expired or continue. This is still annual report which can give anyone idea about profitability and ROI chance of such contracts are limited to zero.
Mining forever with the same GHs is very nice, but with no effect at all Grin

Before sometime in September, all contracts with Genesis Mining were 1 year contracts, although they did offer 1.5 and 2 year contracts from around August as well. Then they changed their marketing and plans and started offering lifetime contracts instead. The 1 year contracts had no daily electricity or maintenance fees as they were included in the price of the contract.

Anyone that had a 1 year contract had their contract automatically changed to a lifetime contract when it finished. My first 1 year contract finished in May so then it was changed to a lifetime contract. Most 1 year contracts were Scrypt contracts so because they do not sell Scrypt, my MH/s was converted to GH/s at the same rate they offered in February, so 1 MH/s Scrypt became 1 GH/s Sha256

You will most likely find that your contract was converted to GH/s too although will most likely be a very small amount. Even 100 MH/s Scrypt means 100GH/s, not a lot really.

Ian

kpitti

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Quote from: b-trading on June 15, 2015, 12:56:10 PM

Quote from: kpitti on June 15, 2015, 12:58:32 AM

Year ago, when I look for another opportunity then run own miners I found Genesis Mining with their offer to use Cloud mining in smart and diferent way to hash for mix of coins. Offer was interesting as I received like 10% discount of initial price. So make it short, this is report showing my investment and what I received as a payment during 12 month when contract was valid.

Initial investment:
0.4291 BTC

Payments by month:
0.07456656
0.04482120
0.02725750
0.02627661
0.02055218
0.01523150
0.01137384
0.00990287
0.01075219
0.01075442
0.00951173
0.01001327
0.00239668

In sum my contract finish with lost of 0.15568945 BTC.

This is fact for cloud mining as I saw lot of dicsussion here around I would like to show when my contract expired.

Genesis mining is a lifetime mining contract not only in just a year or five years...but it is mining forever

OK, I do not care too much if contract expired or continue. This is still annual report which can give anyone idea about profitability and ROI chance of such contracts are limited to zero.
Mining forever with the same GHs is very nice, but with no effect at all Grin

b-trading

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Quote from: kpitti on June 15, 2015, 12:58:32 AM

Year ago, when I look for another opportunity then run own miners I found Genesis Mining with their offer to use Cloud mining in smart and diferent way to hash for mix of coins. Offer was interesting as I received like 10% discount of initial price. So make it short, this is report showing my investment and what I received as a payment during 12 month when contract was valid.

Initial investment:
0.4291 BTC

Payments by month:
0.07456656
0.04482120
0.02725750
0.02627661
0.02055218
0.01523150
0.01137384
0.00990287
0.01075219
0.01075442
0.00951173
0.01001327
0.00239668

In sum my contract finish with lost of 0.15568945 BTC.

This is fact for cloud mining as I saw lot of dicsussion here around I would like to show when my contract expired.

Genesis mining is a lifetime mining contract not only in just a year or five years...but it is mining forever

Valanor

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Activity: 252

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Look My eyes

Quote from: kpitti on June 15, 2015, 01:06:54 AM

Quote from: Valanor on June 15, 2015, 01:03:52 AM

12 month ? Or 12 years
Genesis mining is live contract now not only 1year

Contract was for 12 month and I stop to received my payments last week.

are you has try to contact genesis mining support ?
This acc is official genesis mining support https://bitcointalksearch.org/user/genesis-mining-247140

you also contact him in https://bitcointalksearch.org/topic/m.11611147

cryptojumper

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Activity: 154

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There is not much difference be it 1 year or life time because of increasing difficulty. And this Genesis Mining is not profitable, if you don't roi in a year you never will, you'll start receiving dusts or nothing at all..

kpitti

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Merit: 1002

Quote from: Valanor on June 15, 2015, 01:03:52 AM

Quote from: kpitti on June 15, 2015, 12:58:32 AM

Year ago, when I look for another opportunity then run own miners I found Genesis Mining with their offer to use Cloud mining in smart and diferent way to hash for mix of coins. Offer was interesting as I received like 10% discount of initial price. So make it short, this is report showing my investment and what I received as a payment during 12 years when contract was valid.

Initial investment:
0.4291 BTC

Payments by month:
0.07456656 - I add first month payment later as I forgot it
0.04482120
0.02725750
0.02627661
0.02055218
0.01523150
0.01137384
0.00990287
0.01075219
0.01075442
0.00951173
0.01001327
0.00239668

In sum my contract finish with lost of 0.15568945 BTC.

This is fact for cloud mining as I saw lot of dicsussion here around I would like to show when my contract expired.

12 month ? Or 12 years
Genesis mining is live contract now not only 1year

Contract was for 12 month and I stop to received my payments last week.

Topic: my Annual Genesis Mining report - page 2. (Read 3657 times)