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

Mining
279

Just for comparison to Genesis’s 1 year “Pro” 60 h/s (Sols) 12-month contract for $2,600.

You can build a 6 x RX470 GPU rig, including MB, Intel i3 processor, 8 GB ram, SSD and 1000 Watt Corsair PSU for $1,600. This still leaves you with $1,000 for electricity compared to the contract price.

From personal experience I have similar rigs running right now that deliver 200 sols (~30 per GPU) and the entire rig only draws 600 watts as measured from the wall via a Kill-a-Watt meter. I am sure as the mining software improves these hash (sol) rates will only increase over the course of the next 12 months.

Even with “expensive” $0.12 KW electricity, such a rig will only consume $1.73/day in energy, or $630.72/year. So remember the $1,000 savings from above? Even subtracting electricity for the entire year you would still be $370 ahead versus buying the contract. Furthermore you would be getting 200 sols right now with probably 300-400 by the end of the year, but even assuming no improvements are made you are guaranteed a better than 3x sol rate versus the 60 with the contract.

Plus you still have the hardware, and even in worse case you can probably sell for half of what you paid getting $800 back after a year, or simply keep mining if it is still profitable or another coin comes out.

So is the no hassle, no noise, no learning, and other “cloud mining benefits” worth $370 more and 140 sols less to you?

I understand the cloud providers do need to make a profit and the service can be attractive at the right price, even if it is at a premium over what you can do yourself, but these prices are not a premium as much as they are are an outright fleecing. Tacking 20-25% on for the convenience is one thing, but this is outright fraud. Buyer beware…

Edit: These are the GPU cards I use and love. Dual BIOS switch in case you hose your BIOS modding, a back-plate to prevent damage since these are in an open-air rig, and they overclock like mad. SAPPHIRE NITRO+ Radeon RX 470 Video Card 100407NT+8GOCL - Newegg.com

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280

I take 18h from GM.

With this block reward, should i take 0.004 per day, instead in my balance result 0.0027… up slightly every day because the block increase.

there is a possibility that increase H/s for those who bought in presale?

281

IMHO I would be taking daily profit and selling every single day that ZEC > BTC in price. Right now it is roughly trading between 2 to 3x the price of BTC. It is likely this will not stay this way for too long, especially as the full block reward kicks in around December 1st. Mining for long term holding will only make sense once the price drops significantly below that of BTC.

282

please provide hash power screenshot.
I dont beileve everything i see online.

283

DO NOT TRUST THIS COMPANY. I paid them for a contract, but have failed to receive a single payout.
Though they admitted that there were problems on their end, they suggested that it was my fault for not understanding the risks.

I asked for a refund, given the circumstances. They were absolutely unwilling to even consider it at first, despite admitting that they were in error. Eventually, they agreed to forward the refund request to their sales team.

They then closed my support ticket, and have stopped responding to emails entirely. I have no idea what’s going on, but it looks like I’m out about $300. I don’t know if they fail to deliver for everyone, if they take all their customers money, or if they stop answering customer emails regularly - but this is what they have done to me.

Do not trust this company with your money.

284

As mentioned before, this does affect a small group of people and the issue with the missing Zcash payments is still being worked at. It WILL be fixed. We know which customers (tickets do not need to be open or closed for that) are affected and we will fix the issue for them. We’re sorry it is taking this long, but we hope to fix it soon now.

–

Your Genesis Mining Team

285

If you admit that you are at fault, then you should do the right thing and offer refunds to anyone affected who wants one. Especially since the group is - as you say - small.

286

Hi.

If anyone would like to share their experience with Genesis-Mining.com, good or bad, with a member of the media, please contact me at iandemartino[at]gmail.com

Thanks,

Ian

287

When GM launched there was no miner which provided more then 0.2 H/s, thats why a lot people speculate and bought some cloud mining (me included). At the moment I also don’t see a reason to buy any more cm hashrate. But anyways GM have paid me now for every day. I cannot complain.

288

Still waiting. Information has appeared in my ‘Payout’ area, but I can’t access my ZEC because it says that my payout address is empty - which it is not. Still have not received a single email from their support team, after they promised to follow up.

Have sent numerous emails asking for updates.

289

Same here…
The service is good: it works, they transfer everyday, no downtime (at least not that I’m aware of), and they had a smooth start, much better compared to other cloud mining services (based on the stories I read on this same forum)…

I used their customer support platform twice, and got my answers very fast. First time within the day, second time after a few minutes…

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290

Totally agree with @den . When I had a question or something didn’t look right I contacted customer support and had a response within minutes on both occasions.

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291

My hope is that increase H/s.
Plus I now I have not received any payouts, when I know of people with 1,2H / s paid.
Maybe if you have so many H / s you have to wait?

The support works as long as you do not ask payouts

292

@sorrisocaprino

All missing payouts have been processed. If you still have not received anything then there may be some other thing though that we need to look at. Can you please first look under the PAYOUTS page for any clues? If nothing there then sheds a light, can you please create a new ticket?
Payout for Mining Day Nov 1 will be released before midnight in UTC time.

–

Your Genesis Mining Team

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293

Does anyone have a clue how to withdraw zec ?? Is there a threshold for withdrawal?

294

You need to add a T Address. I just got a payment 5 minutes ago.

296

Glad to hear that as well. Gogo!

297

If you bought 0,6 H/s and now get a whooping 0,75 for 30$ you still have 6 times less H/s than a 8 year old intel cpu.

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298

It all seems like a really fair deal, in my opinion. Of course they are making profit and have overhead to consider. For generating hands off currency from the release they have been the best deal.

One has to consider many factors.

Mining knowledge
Electricity consumption
Hardware
Time spent maintaining hardware
and others.

Their payouts are inline with my pool payouts hash for hash, almost.

299

Thanks guys! That was really unexpected increase in Hashrate :slight_smile:

In this forum is a lot of criticism about Genesis and I agree that private mining is more profitable. But honestly I am suprised how consistently they updated their offer for customers who have already bought in. Cudos for treating your customers fair. (Just take a look at the Toomim Bros thread to see a difference…)

Also if you want buy in with Genesis. You could use my promo code to get 3% off iyjN68.

1 Like