Heh, promotional efforts become more creative every day.

Thanks for the update.
Will X11 and SHA256 somehow be incorporated in the same mining contracts as scrypt or will each contract be dedicated to a specific algorithm?

Cheers

RDD has been switched to AUTO as BTC and DRK for you can continue "mining" it!

If anybody needs some more info on how to upgrade your own wallet, you can look for example here.

Best regards,
Genesis Mining

Nice to know that another altcoin was added. 

Prices could always be lower, but let us be realistic (calculation follows below). Some people here spam several threads with the same message: XYZ is too expensive, buy ABC instead.

Do not fall for it, whatever ROI they might promise you! If there is no registered company or the people behind the company are not known it is likely a scam attempt!

History of Bitcoin is full of scammers. Transactions are irreversible! So only do business with a registered company, where the users behind the company are known. "Gawminer" and "Genesis Mining" fall in this category in my opinion (as does some larger Bitcoin hosting companies). Do your own research!

An anonymous promise for a high ROI is worth nothing!

Now for the numbers:

Gawminers offers the Falcon for 600$. Electricity cost for one year is 867 USD (at 0.1$ per KW/h *). This results in 5.3 USD/cent and is marginally smaller than 5.9 USD/cent.

However, this calculation does not take into account: customs, shipment fees, own work needed with configuration, delays in shipping, downtimes (they are significant!), and if the machine fails you are in trouble because you will lose time and might even be without warranty (check this: in most cases it is only one month).

If your local electricity price is below 0.1 USD and if you are experienced with mining and have enough spare time, then go for it for the *fun* (you will not save any money, alone if you factor in your opportunity costs).



(*) this also takes into account that official specs for electricity consumption are only theoretical values under optimal conditions. In my own experience the real consumption of electricity is significantly higher (due to inefficiency of the PSU, additional gear you need etc. ). I have used 990W for this calculation, which in my own tests is closer to reality.

Just for clarification: I was not referring to you calling you a spammer.

Regarding numbers: as I have shown above in detail pricing wise there is not much difference (please double-check my numbers). If you factor everything in, price of Genesis Mining and Gaw are very similar. I like the 100% uptime guarantee of GM (Zen is only offering best-effort basis) and the nicer interface. But taste differs. I have experienced a number of broken miners on my own, so I know what I am talking about

If you want to mine at home you need electricity prices significantly below 0.1 USD per KW/h to compete with GM (and cheap spare time).

Nice logo on this. who did it? i need logos for my stuff

You should at least offer some advantage to people that bought a while ago. Overall, I will be extremely lucky if I get back 50% of the btc I invested.

At the moment, I would advise everyone to keep their BTC and not invest with you. This was the worst BTC investment I did.

Please consider adding mining support for new scrypt coin VIA (Viacoin) thanks.

Mining is risky, and it is hardly GM's (or scryptcc, or Gawminers, ....) fault if the value of the altcoins dropped that much. Logically you should compare your investment to buying a portfolio of LTC Doge with your BTC. Then you would have lost by now like 60% of your BTC. Again this is mainly the result of LTC Doge ... losing significantly against BTC, which I honestly did not expect to happen either. If altcoins would have accelerated like before, the story would be a different one. Too bad, but no ones fault.

By the way: I did quite well with mining some of the smaller coins. Had a good experience with mining Reddcoin for example.

For investments I like to quote Warren Buffet: "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"