Jeez, get over it. I bought quite a large contract. By the sounds of things it will cost me twice as much as setting up my own mining rig. I simply don’t have the time and space to do this at the moment. I’m expecting a worst case scenario that I lose half my investment. If ZCash is popular I hope to make a tidy profit. If I don’t then won’t buy any future mining contracts in the future. What I won’t do is bitch and whine all over forums.
If providing mining cloud mining facilities is such an easy money spinner then set up your own service and give these guys some competition.
@Genesis-Mining Are you checking other mining threads on this forum? A lot of improvements there. Will you still keep your hashrate much less than half of standard performance? Such a company. Wow!
Pasta just relax ;-), if they want to sell more cm contracts they have to adapt the prices. Hope they will play fair and also upgrade old contracts like in the past.
@Karl Without a wallet, all mined coins will be kept in balance until you enter an address for payout in your profile. Setting an address can be done by logging in and then go to My Account > Settings > Wallets.
Once the address is there, payout will be done at the next payment cycle.
Good to know also: our payment schedule is not fixed! We pay out mined coins one day after mining and payout can occur throughout the whole day. A day is in UTC time. For Zcash that means that if mining starts on October 28, payout for that day will then occur on October 29, before midnight in UTC time. And so on. Either to a wallet, or to balance. Or perhaps an exchange account.
With the new hash rate we are getting you could set up a 6 card rig for $2k that does 240H/s
I’m afraid you may have lost more than twice as much. I really do sympathize with cloud purchasers, I even put in a few bucks on genesis early on too. Mistakes learned.
*It is important to note that Zcash is a young technology, and no public GPU miner exists for it at this time. Genesis Mining is working hard to provide a GPU version in time to allow you to mine at the highest efficiency possible. 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. We are very confident that we will deliver in time so that you can start mining from day 1. In addition, we will ensure that your leased GPU will mine with the best possible algorithm available at the mining start date and we expect that we will ultimately deliver a higher hashrate than currently advertised here.
Yeah I have a feeling these guys will not pull a toomim. Probably well more established and have a lot more to lose and wouldn’t want to rip off their customer base and hurt rep.
I would like to think that when you buy a contract from these guys you are in effect renting a certain precalculated amount of hardware, and as such improvements to the algorithm are automatically passed on to the customer. Is this how it works Genesis?
It’s going to take them some time to either implement this new solver into their software or use a compatible publicly available GPU miner (this isn’t available yet remember!) so let’s give them time and a chance to respond.
Give em some time to respond. There is obviously not a chance in hell that current price/hash will hold or every cloud mining provider will have a riot on their hands. 5-10x cost of home mining will ensure not a single one of them survive the community wrath.
2x Yeah, I can buy that. They need margins, but 5x+ not even funny considering their customers don’t even get to sell the hardware when done.
Just a simple hope they will increase their hash rate again. As of now, I paid Genesis 2.180BTC for 13 months at 30h/s.
Keep in mind BTC has climbs since my purchase.
My laptop with the new cuda miner and cpu running pumps out 20h/s
Food for though, you do not need a expensive rig to make what you will probably be able to afford with any cloud mining. The only perk is no electrical costs and or cooling issues.
