Is Genesis-Mining Zcash Contracts A Scam?

You know what the best mining for servers is now?

Iā€™m not sure I understand what youā€™re asking.

what zcash program gives you best solutions on servers?

So far I have only setup the test net on local machines but I did mine Monero on a linode server for a short time. I was considering doing the same with zcash but it looks like cpu mining might be ineffective right out of the gate

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Genesis Mining just trippled their hashpower. So they will have developed their GPU miner for day 0.
There are two other legit options with Toom.in and zeropond mining as far as I am aware.

If you want to go with Genesins mining you could use my promo code to get 3% off: iyjN68

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Iā€™m using Genesis, and they are reliable.

You could get 3% discount on your order using this coupon

VJBACK

Say hello to the team:

Feel free to ask me questions, Iā€™m a customer of them.

I wrote an article about them here: https://medium.com/@dcorbacho/zcash-zec-mining-coupon-3-vjback-369476f60faa#.f8xnoa4vx

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Is this offer for existing customer or new comers?

@Key5ive its for both ā€¦ :heart_eyes:

Iā€™d love to support Zeropond as a NorCal company, alas, as a U.S. resident it looks like Iā€™m out of luck. GM it is. Extremely skeptical about cloud mining in general, but I suck even more at trading so slow and steady (even with a loss) does it for me :slight_smile:

Buying and holding rather than trading was actually the safest profitable strategy for both Bitcoin and Ethereum. You donā€™t have to trade to make money you just buy and hold it as the value goes up and at some point you cash out.

Plenty of people bought Ethereum when it was $0.50 cents and if they held on to it until today they would have made a 2200% return on their investment. Had they sold when Ethereum was $20 back in the summer they would have had a 4000% return on investment.

Thereā€™s nothing wrong with buying and holding. Plenty of people have lost money on cloud mining simply because the difficulty surpassed the mining power they initially leased. And as a coin becomes profitable, this increase in mining difficulty is inevitable.

Heh, had 4,000 ETH after ICO. Needless to say did not sell at $20. Nope, more like December of last year. So yeah, hodl is the way to go, if you have the patience. If I only had some. I finally have garage with space, alas everyday job keeps me away from home 3-4 days of the week. So I satisfy the mining itch with a compromise. Yes, not necessarily profitable, but I donā€™t do this only because of ROI either.

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In answer to this question - it certainly could be. About 9 months ago I bought a 2 year DASH mining contract. They stopped paying me on Oct 12. I put in support requests and they close them without responding to me.
So I would tell you that spending money with Genesis is quite risky. They say they are the biggest and most successful cloud miner. Well they sure made money off of me by cheating.

Update: Glad to receive 1 month extra, this email was sent some hours ago


You could get 3% discount on your order using this coupon

VJBACK

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I think you should mine by yourself :wink:

From another thread:

getting 13.5H/s on RX480. 6 GPU rig costs under 2k and gives ~80H/s.
Letā€™s be generous and call end of life 2 years. Cost/month including power and everything sits at $130. Thatā€™s $1560 per year for 80H/s or just under $20/H/s for a yearā€¦

So pricing of all the cloud mining is so terrible. Even Genesis Mining is 46.6/H/s for a year = More than 2x :confused:
If they really think customerā€™s profit, they should increase hashrate. But they wonā€™t :stuck_out_tongue:

Extremals miner is getting 19H/s for the RX480

Still very low. This might be a CPU coin.

Looking at GPU usage on that miner Im guessing 50-60H/s per high-end GPU

Yes, not even heating up. Its doing a very light work perhaps?

Give it a week and we will be seeing 60hs no problem on Gpuā€™s

Usage is all over the place on mGPU ranging from 50-100%

My guess is we will have a good miner today from Nicehashdev