As you may well know, Genesis Mining is one of the oldest, most experienced, and largest cloud mining companies in the world. We are strong believers in the future of digital currencies and we are very excited about Zcash as one of those currencies. We are building mining facilities to make Zcash mining possible for everyone who wishes to join in from the start, including those that are perhaps unable to do so at home or cannot run as much hashrate as they would like.
Our mining offer starts at $29 for 1 year of Zcash mining with 0.6 H/s (was 0.3 H/s). Larger amounts are available for a better price per H/s. To review prices and perhaps to (pre-)order, please visit : Bitcoin & Cryptocurrency Mining Contracts | Genesis Mining
Zcash is still an experimental technology. We are working on a GPU miner, so in theory it’s possible that we are not able to deliver the promised hashrate. If we are not able to deliver the promised hashrate two weeks after expected Zcash mining start (28th of October 2016), you will be eligible for a full refund. But we are very confident that we will deliver in time so that you can start mining from day 1, with the best possible algorithm available, and perhaps even with a higher hashrate than currently advertised.
The supply is limited so do not wait too long if you want to get in early!
The disclaimer text is also on the pricing page so it should be quite obvious already, and it’s an extra bit of text in the message here, so it was removed. But perhaps considering that before posting would have been better, so it was put back
There is no need for concern. There simply are no (fully tested) GPU miners yet, not with us or anywhere else. When Zcash launches you will have at least what you ordered, and we hope even more. If not, which is highly unlikely, then you will receive a refund. But it’s not hard to imagine that going live with the best possible infrastructure and simply delivering awhat we promise matters hugely, so you can be sure we will work very hard to make that happen and we have the resources to make that happen.
As for amount of hashrate, the largest order you can create is for 500H/s. If you wish even more, then please contact us directly. We can always see what we can do.
Short term contracts are not an option for now. The difference in costs would not be so great, so all in all we think the year contract is simply a much better deal for our customers. We may reconsider in the future, who knows how things will progress, but for now this is what we offer.
With no fully tested miners I meant that work is still ongoing and progress will continue, even this close to launch date. And talking about progress:
We’re glad to announce that our work on the Zcash mining software is successful and we have tripled the Zcash hashpower of every user that already obtained a contract before this update. We’ve also updated the contract pricing respectively! We still have a few weeks before the Zcash launch on 28th October 2016 and we’re working hard on further optimizations!
Due to high demand we cannot guarantee to keep sales open until launch anymore, but we will do everything to ramp up new capacities as quickly as possible. If you want to start mining Zcash from Day 1 then it’s best to join now!
We’ve also updated the contract pricing respectively and you are now able to get three times as much hashrate for the old prices! Prices now start at $29 for 1 year of Zcash mining with 0.3H/s.
In the unlikely event that Genesis Mining is not able to deliver the promised hashrate two weeks after expected Zcash mining start (28th of October 2016), you will be eligible for a full refund.
So, yes, full refund. But the unlikely event becomes more and more unlikely as we progress.
Yes, all that is needed is to purchase a contract and provide a payout address where we can send the mining returns.
Also a healthy understanding of cryptocurrencies in general will help. Good returns are never a guarantee. For Zcash that applies even more as it needs to establish itself still and it’s not an easy world for crypto currency. So far Zcash seems to have a lot going for it though, so an early investment may be well rewarded. And any success will help future developments. But expectations are just that. They may be too high. They may also be too low
As for the address part, wallets are still being developed so for now you do not need an address yet, but at some point you will have to provide one for payout of course. The kind of wallet does not matter, whether you run one at home or use an online version. Some people choose to have their earned coins send straight to an exchange, which is possible, but many exchanges require a certain minimum amount. Even some online wallet services (may) have minimum amount requirements. But all this is for later.
Long story short: yes, all you need for cloud mining is to purchase a contract and (eventually) provide a payout address.
