As a matter of interest does anybody know why the volatility has dropped off in the last six days?  This is a chart of my payouts since I started with GM.  Something seems to have changed six days ago. 

https://i.imgur.com/7MPF4hq.jpg

Not complaining - just curious.

We always have to do some additional security checks before doing the payouts and check everything twice. This delays it sometimes a bit, but you can be sure that you won't miss any payout!

Nice to know that there are new alt coins in the genesis mining now.

I received my payout I think maybe two slower back to back pmts  and my different time zone made me think it was off, but it was just a little slow getting confirmed too.  
I am new to Genesis but can tell there is a great opportunity with them to turn a profit without all the hassles of traditional mining.
Seems like  they are doing a great thing the only thing that scares me is what happens in a year do we just start all over?? Will we get a current customer discount or be able to build on the hashpower we have now???

Comparing altcoin->bitcoin  vs  pure bitcoin mining

Please note: this is just for ballpark numbers to get a feeling whether it is better to mine altcoin and exchange for bitcoin or use one of the bitcoin cloudminers. Also this just considers just the past one month (and not increasing difficulty etc).


Example calculation:

1) From the data from Bonobo I suggest that the average payout over the last 30 days was roughly like: 0.0027 BTC. If you bought the 1 MH/s contract for 180$ (1year) you received approx 0.081 BTC and paid 180$ 12 = 15$ for the first month. In other words for 1000$ this would be the equivalent of 5.4 BTC.   (=0.081/15*1000)

2) cloudhashing offers: 110 GH/s for 1000$ (now, I do not know their price one month ago). My guesstimate is an average difficulty of 10,200 * 10^6 for the past month (Bitcoin). This is according to the mining calculator (no electricity cost, no difficulty increase etc.) a payout of 0.1627 BTC per month. Cost per month = 1000/12 USD. Or roughly 1.95 BTC for 1000$.

http://bitcoin.sipa.be/speed-lin.png
https://bitcoinwisdom.com/bitcoin/calculator


Just wanted to point out that if you want to mine Bitcoin you are probably better of with mining Altcoin and exchanging them for Bitcoin. At least in this example Genesis Mining is like 175% better than cloudhashing.

Seemed to be interesting enough to share it here, please double-check my numbers (as I said it is a ballpark estimate).

Yes, but we can't ignore the fact that just in the last month the payout has dropped about 40% so whether we make ANY return from our investment after a year is a big question.  Further to the charts I posted on June 1st I have managed to extract further data from the blockchain which puts it into better perspective.  The following chart is compiled from my own data (starting May 10th) combined with payouts to three other GM user addresses going back to around February 21st.  It seems to confirm the point that I called "Stefan's Data Point" in my previous post.

https://i.imgur.com/4PvqqM1.jpg

Clearly the average downtrend has not always been as steep as it has been for the last month, which is good news.  Maybe there is some reason to hope that the past month was not typical and the payout will rise again - or at least drop off at a shallower angle.

Haha, you are right Mike! On their main page they state "Get 110 Gigahash for only $9.08", which is roughly 1000$. They seem to be a bit lazy, if they do not even update their main advertisement.


Interesting. Did not know that have additional fees on top. Their offer was already bad enough without

http://www.cryptoarticles.com/crypto-news/genesis-mining-launches-affiliate-program-referrals-get-3-discount-on-order-price

Small article about the affiliate program (took a bit longer than expected)

Excellent! You guys are going full speed ahead. 

That is great! I like that you guys not only provide altcoin mining services, but that you also start eating your own dog food!    Hope more payment methods will be added soon and you become one of the first truly multicoin companies!

Excellent work guys, keep it up!