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Schinder75



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MemberActivity: 117Merit: 10 Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider! June 20, 2014, 12:52:04 PM #267 Will there be a price adjustment in the near future?



genesis-mining.com 2 MHs for 360$ = 180$ / 1MHs



zeusminer.com (blizzard in stock) 1,3MHs for 110$ = 84$ / 1MHs



So it seems you have more than double the price of asic manufacturer that has miners in stock. There will apply shipping costs and electricity, but anyway, it seems much cheaper to order a miner than to rent the hashing power.

Even if i calculate all true costs (shipping costs, eletricity, raspberry, VAT, usb hub and so on) it will be cheaper to get a miner at home if I just order 2 blizzards.



Do I have forgotten anything?

Mike18feb



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Hero MemberActivity: 657Merit: 500MΣC Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider! June 20, 2014, 02:01:02 PM #268 Quote from: Schinder75 on June 20, 2014, 12:52:04 PM Will there be a price adjustment in the near future?



genesis-mining.com 2 MHs for 360$ = 180$ / 1MHs



zeusminer.com (blizzard in stock) 1,3MHs for 110$ = 84$ / 1MHs



So it seems you have more than double the price of asic manufacturer that has miners in stock. There will apply shipping costs and electricity, but anyway, it seems much cheaper to order a miner than to rent the hashing power.

Even if i calculate all true costs (shipping costs, eletricity, raspberry, VAT, usb hub and so on) it will be cheaper to get a miner at home if I just order 2 blizzards.



Do I have forgotten anything?

A website, a helpdesk, methods of checking for scammers, ease of mind, mining 24/7, room to mine with electricity and cooling, and probably a coffee machine, and so on. If you buy a car, will you complain to the dealer that a complete and ready to go car is more expensive then the components it's made of?! If you have everything you need to mine at home then buy hardware. If not, then you can either accept these prices or shop elsewhere.



The MEC promo code was mine. Guess I promoted it well enough if it made it's way onto cryptomining-blog.com. Though, yeah, by now that one is invalid A website, a helpdesk, methods of checking for scammers, ease of mind, mining 24/7, room to mine with electricity and cooling, and probably a coffee machine, and so on. If you buy a car, will you complain to the dealer that a complete and ready to go car is more expensive then the components it's made of?! If you have everything you need to mine at home then buy hardware. If not, then you can either accept these prices or shop elsewhere.The MEC promo code was mine. Guess I promoted it well enough if it made it's way onto cryptomining-blog.com. Though, yeah, by now that one is invalid <||=||> Rule #1a: Never invest more then you can afford to lose. <||=||> Rule #1b: Never invest all you can afford to lose. <||=||>

............. Whenever someone idly claims a scam, a Bitcoin somewhere dies .............



Genesis-Mining



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Sr. MemberActivity: 430Merit: 250 Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider! June 20, 2014, 02:07:00 PM #269 Quote from: Schinder75 on June 20, 2014, 12:52:04 PM Will there be a price adjustment in the near future?



genesis-mining.com 2 MHs for 360$ = 180$ / 1MHs



zeusminer.com (blizzard in stock) 1,3MHs for 110$ = 84$ / 1MHs



So it seems you have more than double the price of asic manufacturer that has miners in stock. There will apply shipping costs and electricity, but anyway, it seems much cheaper to order a miner than to rent the hashing power.

Even if i calculate all true costs (shipping costs, eletricity, raspberry, VAT, usb hub and so on) it will be cheaper to get a miner at home if I just order 2 blizzards.



Do I have forgotten anything?



Good question. We are constantly watching the market and negotiate with hardware sellers to find the best possible offers. Unfortunately, Zeus miners consume a lot of electricity (and thus produce a lot of heat) and are not well tested for longer periods of time.



What numbers did you use for shipping costs, electricity, rasberry, VAT, and other equipment etc?



You also need to take into account opportunity costs, e.g., delivery time, your own time you need to setup and operate the miner. Miners will crash from time to time and need to be restarted (so you need constant monitoring and in some cases a manual reset is required), i.e., you will by far not reach a 100% uptime. Furthermore, the manufacturer / seller often limits the warranty to one month (bad luck if it breaks after).



If you take all this into account it will be very difficult to beat 14 cent per 1kH/s. For smaller projects I guess that opportunity costs will be the limiting factor. Or the WAF (= woman acceptance factor) will limit your mining project



For Zeus it will very much depend on where you are and how much you pay for electricity.



Good question. We are constantly watching the market and negotiate with hardware sellers to find the best possible offers. Unfortunately, Zeus miners consume a lot of electricity (and thus produce a lot of heat) and are not well tested for longer periods of time.What numbers did you use for shipping costs, electricity, rasberry, VAT, and other equipment etc?You also need to take into account opportunity costs, e.g., delivery time, your own time you need to setup and operate the miner. Miners will crash from time to time and need to be restarted (so you need constant monitoring and in some cases a manual reset is required), i.e., you will by far not reach a 100% uptime. Furthermore, the manufacturer / seller often limits the warranty to one month (bad luck if it breaks after).If you take all this into account it will be very difficult to beat 14 cent per 1kH/s. For smaller projects I guess that opportunity costs will be the limiting factor. Or the WAF (= woman acceptance factor) will limit your mining projectFor Zeus it will very much depend on where you are and how much you pay for electricity. Genesis Mining || genesis-mining.com

Bonobo



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NewbieActivity: 26Merit: 0 Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider! June 20, 2014, 05:30:52 PM #272 Quote from: brasilbitcoin on June 20, 2014, 11:46:48 AM Quote from: AngryGrunt on June 19, 2014, 10:55:23 PM Now have total of 48 mh/s Hope it will be worth it

Bought 38 more mh/sNow have total of 48 mh/sHope it will be worth it

the last payment was around $ 0.72 per MH/s. You may never recover the investment, the difficulty keeps increasing so rapidly.

the last payment was around $ 0.72 per MH/s. You may never recover the investment, the difficulty keeps increasing so rapidly.

Unfortunately you might be right. Here is the updated chart of my returns in mBTC per mH/s since I started with GM on May 10th:



https://i.imgur.com/sUVTSb2.jpg



Here is the same data in context with previous returns since February (derived from payments made to other users and publicly available on the blockchain):



https://i.imgur.com/qbMAlQd.jpg



Could the trend reverse in time to get a positive ROI? I suppose, but there are going to be a lot of new ASICS coming on stream this year. At the moment my best guess from extrapolating the trend shows the ROI about minus thirty percent by contract expiry. If somebody can put a positive spin on the data I would love to hear from you!

Unfortunately you might be right. Here is the updated chart of my returns in mBTC per mH/s since I started with GM on May 10th:Here is the same data in context with previous returns since February (derived from payments made to other users and publicly available on the blockchain):Could the trend reverse in time to get a positive ROI? I suppose, but there are going to be a lot of new ASICS coming on stream this year. At the moment my best guess from extrapolating the trend shows the ROI about minus thirty percent by contract expiry. If somebody can put a positive spin on the data I would love to hear from you!

Schinder75



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MemberActivity: 117Merit: 10 Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider! June 20, 2014, 05:59:30 PM #274 Quote from: Genesis-Mining on June 20, 2014, 02:07:00 PM Quote from: Schinder75 on June 20, 2014, 12:52:04 PM Will there be a price adjustment in the near future?



genesis-mining.com 2 MHs for 360$ = 180$ / 1MHs



zeusminer.com (blizzard in stock) 1,3MHs for 110$ = 84$ / 1MHs



So it seems you have more than double the price of asic manufacturer that has miners in stock. There will apply shipping costs and electricity, but anyway, it seems much cheaper to order a miner than to rent the hashing power.

Even if i calculate all true costs (shipping costs, eletricity, raspberry, VAT, usb hub and so on) it will be cheaper to get a miner at home if I just order 2 blizzards.



Do I have forgotten anything?



Good question. We are constantly watching the market and negotiate with hardware sellers to find the best possible offers. Unfortunately, Zeus miners consume a lot of electricity (and thus produce a lot of heat) and are not well tested for longer periods of time.



What numbers did you use for shipping costs, electricity, rasberry, VAT, and other equipment etc?



You also need to take into account opportunity costs, e.g., delivery time, your own time you need to setup and operate the miner. Miners will crash from time to time and need to be restarted (so you need constant monitoring and in some cases a manual reset is required), i.e., you will by far not reach a 100% uptime. Furthermore, the manufacturer / seller often limits the warranty to one month (bad luck if it breaks after).



If you take all this into account it will be very difficult to beat 14 cent per 1kH/s. For smaller projects I guess that opportunity costs will be the limiting factor. Or the WAF (= woman acceptance factor) will limit your mining project



For Zeus it will very much depend on where you are and how much you pay for electricity.

Good question. We are constantly watching the market and negotiate with hardware sellers to find the best possible offers. Unfortunately, Zeus miners consume a lot of electricity (and thus produce a lot of heat) and are not well tested for longer periods of time.What numbers did you use for shipping costs, electricity, rasberry, VAT, and other equipment etc?You also need to take into account opportunity costs, e.g., delivery time, your own time you need to setup and operate the miner. Miners will crash from time to time and need to be restarted (so you need constant monitoring and in some cases a manual reset is required), i.e., you will by far not reach a 100% uptime. Furthermore, the manufacturer / seller often limits the warranty to one month (bad luck if it breaks after).If you take all this into account it will be very difficult to beat 14 cent per 1kH/s. For smaller projects I guess that opportunity costs will be the limiting factor. Or the WAF (= woman acceptance factor) will limit your mining projectFor Zeus it will very much depend on where you are and how much you pay for electricity.

I have to say sorry.



Doing the math again I have to say it really belongs to e-costs. Contracts from you seems overpriced at first look, but after doing math again, it seems they are ok. It really belongs how much scrypt power you rent or buy and where to host it and to calculate the hidden costs.



And do not forget the WAF factor...



I have to say sorry.Doing the math again I have to say it really belongs to e-costs. Contracts from you seems overpriced at first look, but after doing math again, it seems they are ok. It really belongs how much scrypt power you rent or buy and where to host it and to calculate the hidden costs.And do not forget the WAF factor...

Genesis-Mining



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Sr. MemberActivity: 430Merit: 250 Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider! June 21, 2014, 12:16:01 PM #279 Quote from: IanFoxley on June 20, 2014, 10:04:24 AM Quote from: Genesis-Mining on June 20, 2014, 09:56:31 AM Quote from: IanFoxley on June 20, 2014, 07:22:37 AM I notice that Darkcoin has a system called masternodes which cost 1000 darkcoins and then you have to set it up on a secure server etc.



Is that something that, yourselves at GM would consider doing? Setting up masternodes and then letting people purchase a share in them, say from 10Drk coins etc? So 100 shares and then each month you give people back a payment in DRK coins.



Just a thought.





This is a very interesting idea. I know some of our team members already had a look at Darkcoin masternodes. Doing this as a shared investment is a very good idea! We will have a look and see what we can do.





This is a very interesting idea. I know some of our team members already had a look at Darkcoin masternodes. Doing this as a shared investment is a very good idea! We will have a look and see what we can do.

That's good, thanks for taking the time to reply

That's good, thanks for taking the time to reply

Short update about the masternode: we have discussed this internally and everyone in the team likes the idea! Technically it is certainly doable, our darkcoin specialist Stefan will setup a masternode for testing purposes, soon. We need some changes in our infrastructure and of course for the webinterface (we want to keep the interface simple & clean).



The easiest implementation would be to sell shares of a masternode and pay the server cost by deducting a small fee from the income. Then distribute the remaining income among shareholders. Sounds easy but is still quite some work for the IT team (and they have a looong TODO list already). In this scenario the investor would not be able to withdraw his invested amount. But for the start that would be ok and we can convert it into a tradeable asset later.



Just wanted to give you a short update that you know where we stand on this. Will keep you posted here.



Cheers, Marco (K)





Short update about the masternode: we have discussed this internally and everyone in the team likes the idea! Technically it is certainly doable, our darkcoin specialist Stefan will setup a masternode for testing purposes, soon. We need some changes in our infrastructure and of course for the webinterface (we want to keep the interface simple & clean).The easiest implementation would be to sell shares of a masternode and pay the server cost by deducting a small fee from the income. Then distribute the remaining income among shareholders. Sounds easy but is still quite some work for the IT team (and they have a looong TODO list already). In this scenario the investor would not be able to withdraw his invested amount. But for the start that would be ok and we can convert it into a tradeable asset later.Just wanted to give you a short update that you know where we stand on this. Will keep you posted here.Cheers, Marco (K) Genesis Mining || genesis-mining.com