Post
Topic
Board Service Discussion (Altcoins)
Re: Genesis Mining vs GAW Mining, Spondoolies, Hashnest and Mining Sweden updates
by
IanFoxley
on 15/09/2015, 18:13:07 UTC
Payout info for Mining Day 14.09.2015. All payouts listed are for 50GH/s and are after the maintenance fees have been removed

Genesis Mining 50 GH/s  0.00011427 BTC

Spondoolies 50 GH/s  0.00006635 BTC


Hashnest

Payouts based on 20 blocks found.

Hashnest S3 50 GH/s - 0.00005736 BTC  PLNS  Minus payout today for the S3 hashpower

Hashnest S4 50 GH/s  0.00000484 BTC  PLNS

Hashnest S5 50 GH/s  0.00009972 BTC BTC PLNS

Hi.
Thank you for sharing this updated list.
I have been getting more and more disappointed with genesis.
I'm receiving half of what I was receiving a month ago. There is no info on block, pool, or on how much was deducted for maintenance fee...
Anyway, I did know they did not disclose that information when I opened an account with then.

I have a 350GH/s account and my payment for the 14th was: 0.00079986 BTC (0.00079986/350 = 0,000002285)

0,000002285 is exactly the same value has your payment for the 14th for 50GH/s (0.00011427/50 = 0,000002285)


It is is pretty easy to work out how much was deducted as a maintenance fee.
As you know what the fee is as it is always the same.

If you have 350GH/s then you know that the daily fee will be just over 52 US cents a day, 0.0015 x 350 = 0.525, so just go to bitcoinwisdom and enter in 0.525 into the USD/day box and it will tell you exactly how much BTC that is at the current BTC price. Of course when GM does the payout, the value of 1 BTC might have changed up or down by a small amount but you should still get an idea of how much BTC was removed from the fee. Infact when you do this and then add it to your payout and then you will get an idea of what the payout is before fee was removed.

I do agree though and it would be great if GM could have something displayed where it showed the payout for today and the maintenance fee as a seperate thing.

They cant show blocks found or other info as if you look on their FAQ, they do state that mine Bitcoin on more than one pool and that would make sense because if you mine on more than one pool you can get all your payouts from all the pools and then deal it out, because pools can vary each day and as you can see with Antpool, some days it has nice days and other days it has really awful ones. On their thread they do give info of one of the pools they mine at but they just state that they dont want to give too much away as I think they are pretty secretive about how much hashpower they have. In a recent interview Marco Streng did say that they are in the top ten of hashpower in regards to Bitcoin hashing power on the network. So that could be another reason why they spread their hashpower around so that they do not risk 51% the network. Overall GM payout are quite stable and as said it is the value of Bitcoin against the USD and the fee being in USD that causes the payouts to go down, of course Bitcoin difficulty does too but Bitcoin value causes most of the problems with payouts at the moment.

If you look at Hashnests payouts, you can also see how much the maintenance fee affects the payouts. Take todays S3 payout, being negative for example.
And a few weeks ago the value of BTC falling caused UMISOO and S2 contracts to be negative for more than 10 days in a row because the maintenance fee each day was more than the payouts  so now they have been removed.