Quote from: Glucose on June 29, 2015, 11:43:37 AM

I'm quite sure Zeta and Ian are co-working with Genesis mining (kidding Grin

)

I can't agree with you guys. Even if I'm an "old" GM customer, and I'm quite happy with them (I never bought Scrypt - maybe that's why..).

Here are my experiences with Scrypt.

1. GAW Miners.. Their supposed prized Zen Hashlets, the best paying etc, well they had a way of cheating to say their hashlets were profitable near the end. Paying everyone 1 satoshi a day, if nobody believes me I did a huge series of videos on Youtube about that for a few months, so they could say they were still profitable.. They did with with all their scrypt based hashlets .They suddenly without any notice, stopped their Scrypt contracts, no warning, just a box that appeared when you logged in. Fees were way too high, they never lowered them 8 us cents per MH/s from when their contracts started and they never changed even after promising that they would lower costs over time.

2. Zeushash..Stopped Scrypt contracts in the middle of December and offered everyone as far as i know no matter how much Scrypt hashpower they had with 5 GH/s as a gesture. Yes so if you had 100 MH/s you got 5GH/s if you had 1MH/s, well you did ok, 5 GH/s but those who had more got screwed the most. Started at 8 US Cents per MH/s and then offered contracts down to 5 US Cents before they stoppped.

3. Hashnest..Stopped Scrypt contracts because they were not profitable. Not sure if anyone got any compensation for that.

4. LTC Gear...well they just stopped and that was that.

5. Genesis Mining.

First of all offered 1 year Scrypt, still going for lots of people so the Scrypt machines that Minimax refers to are being used for people, including myself (still have a few 1 year contracts going) that purchased hashpower from them from around May 2014 upto September 2014 which end from May 2015 to September 2015. Sometime in September 2014 mainly because people were complaining that the price of a contract with GM was so expensive when competitors like GAW Miners and Zeushash were offering MH/s that was cheaper and was lifetime, GM had to adapt so started offering lifetime as well at reduced costs. A fee was included 8 US Cents per MH/s just the same as the other companies out there. Then a month or so later, if you look back that far here, Marco Krohn wrote here on the forum that even though the contract was advertised having a fee of 8 US Cents per MH/s they were actually only charging a fee of 5 US Cents per MH/s instead.
https://bitcointalk.org/index.php?topic=602022.msg9199942#msg9199942

Then in November, stopped selling Scrypt for a while, reason they were sold out of miners and had to wait for more. A few weeks later more arrived in stock and they were newer Asics with better power. Costs for those contracts were just 4 US Cents per MH/s, half the cost of the old...But still Scrypt market fell and then in January the first zero payout happened and GM offered everyone a solution.. You can either wait it out and risk your contract being cancelled and losing everything or you can convert now to SHA, yes, some people were not happy, but there were also a few that seemed ok about it, but considering you had a choice. perhaps lose everything or at least have something. then lots of people took the SHA Option. I did not and i waited and hoped the payout would be above zero during the 20 days. It was not, so thinking I had lost it all was surprised when GM sent out an email to those that risked it all and waited and told them that instead of cancelling our contracts and us getting nothing, they gave us the same deal regarding the Scrypt to GH/s and converted everyone. So instead of losing everything I at least got something back. For GM this happened mainly in February so because they were offering lower fees, they managed to at least survive with Scrypt longer than others mentioned.

Just my thoughts and experiences and I had a few.

Ian