Posts Tagged ‘Genesis Mining’

Where We Are Still Cloud Mining for Bitcoins

11, Apr 2015

cloud-mining-services

Over the past year and so we have seen many cloud mining services come with big promises and then go either turning out to be scams or failing due to some bad business planning etc. We’ve tested quite a few of these and lost some money on some, on some we’ve won even though they are no longer available, but there are still a few services that are still here, work fine and pay regularly to their users though we actually had some doubts about some of these.

One of the earliest large scale cloud mining operations, namely Cex has transitioned to an crypto currency exchange only and while it was operating as a cloud mining service the chance to actually perform well was to not only cloud mine, but trade your hashrate all of the time. This was true for many cloud mining operations that came with a built in market where users can sell hashrate, though this allows you to exit at any time by selling your hashrate. We did not like this concept that much as it takes a lot of your time to actually make profit and one of the goals of going the cloud mining way is exactly to save you the trouble of needing to spend a lot of time on the mining-related things.

Some Chinese ASIC manufacturers started promising cloud mining operations, but failed miserably or are going that road pretty fast. A recent example is the AMHash operation that had various issues pretty much from the start and is pretty much dead now. ZeusHash was another promising start with Litecoin cloud mining from a Scrypt ASIC manufacturer that has transitioned to a Bitcoin only and not very profitable at that cloud mining operation. Then there is Hashnest operated by BitMain that also had a fair share of issues and has been constantly changing what they are offering, making it harder for users.

We are not going to even mention various services that looked promising or not, but ended up being scams or services that were betting on the price of Bitcoin only going up or down for that matter and ended up disappearing because of that. So where are we currently cloud mining at and what is left as services that have been here long enough to be considered safer?

– Genesis Mining is one of the most serious entrants into the cloud mining world that we’ve been using for about 10 months already. The company is trying to be very open and transparent regarding its mining operations including hardware manufacturers partnerships to counter the mistrust caused by a lot of anonymous scams. Daily payouts, transparency, multiple ways to purchasing cloud mining hashrate.

– Bitcoin Cloud Services is a more anonymous cloud mining operation that we started using about the same time as Genesis Mining, though it is apparently a year old now and currently running an extended price promotion to celebrate their birthday. Have changed their initial offer, but are still here and pay out mined earnings on a daily basis, offer attractive pricing and anonymity is a plus for some people.

– ScryptCC left us with mixed feelings once we started using it back in February last year, looked promising and worked fine unless you had an issue and needed to deal with support. Well, they are still here and we are still mining with not that much hashrate, but the service is still paying out. There are some people complaining from issues with it apparently, so support could still be an issue, but unless you have to deal with it seems to be Ok. Still we would not advice to go with larger investment there.

Transfer Scrypt to SHA-256 Hashrate at Genesis Mining

21, Jan 2015

genesis-mining-transfer-hashrate

The cloud mining service Genesis Mining has announced an interesting options to its users that have purchased Scrypt cloud mining hashrate – an option to transfer the Scrypt hashrate into SHA256D hashrate. With the current low Litecoin exchange rate and the high network difficulty a lot of services offering Scrypt cloud mining are close to being unprofitable resulting the in the cancellation of these contracts. While the Scrypt cloud mining hashrate at Genesis Mining is still bringing some prfoit, though not much, the service has decided to offer users the ability to convert their Scrypt hashrate to SHA-256 hashrate. So you can turn 1 MHS into 1 GHS, something that may not seem like a very good offer considering how much you had to pay for for 1 MHS as compared to 1 GHS, but with the current low profitability for Litecoin on the longer term it might not be so bad with the chances that soon your Scrypt mining contract might be terminated if it becomes unprofitable and this trend lasts for 20 consecutive days.

There is a bit of catch though, you have only 3 days from now to make your decision if you want to make the switch from Scrypt to SHA-256 cloud mining hashrate at a rate of 1 MHS for 1 GHS. After that this offer will most likely not be available and it is up to you to decide if you should take it or not as there is still a chance that Litecoin may recover and become viable to mine it again. The only thing you need to do is login to your account and click on the Transfer Hashpower button in your contro panel. A word of warning though, clicking on the button will immediately transfer the Scrypt to SHA-256 hashrate, there will be no confirmation required and you will not be able to reverse your decision. So make sure you carefully decide if you should take up on that offer or not.

Genesis Mining With New Lower Prices and Fees

19, Jan 2015

genesis-mining-new-btc-hashrate-prices

While some cloud mining companies are terminating their contracts or are in the verge of doing leaving many not very happy customers, others like Genesis Mining are apparently here to stay. They have just announced new lower prices for the Bitcoin cloud mining hashrate that they offer along with lower maintenance fees for the existing and new customers. The new prices are as follows: 50 GHS are available for $24.49 USD ($0.49 per GH/s), 1000 GHS for $469 USD ($0.47 per GH/s) and 15000 GHS for $6750 USD ($0.45 per GH/s) this is down about 30% from the old prices. Furthermore the maintenance fee has been lowered from $0.002 USD down to $0.0015 USD per GHS per day, or with other words this should save you 25%. You can also use our special promo code – CryptoMiningBlog5 that will give you an extra 5% discount on every purchase at Genesis Mining to get even better prices.

– You can get more information about the cloud mining services offered by Genesis Mining here…


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