Quote from: Zelig on September 10, 2016, 07:11:35 AM

Quote from: BitcoinNational on September 10, 2016, 07:01:59 AM

Happy Friday, UNOverse ~ !

@Z
Real peps are here @uno.

I enjoy your 'continuing story' and look forward to the Friday updates. Stay optimistic. You won't change the system as it is, but you're also dabbling in what can and will over throw the fiat system as we know it. So keep a smile on your face, because you know the future and have a leg up.

---

big thought ... let's repeat ... and repeat often

as Doge is to LTC
UnO is to BTC

which one is the bigger? (actually the biggest of them all)
which one has the lowest inflation (actually nearly null)

these are still the strongest POW networks despite this years hype on ETH, etc ...

speaking of ETC ... uno is at parity Wink

Hey! Just noticed that my mining power on Genesis was reduced from 0.603 TH/s to 0.45 TH/s ... what's up with that? Genesis mining sucks. I tried / think I sent them a message asking what's up...

I was about to buy more mining power... but... that gave me pause.

Z

P.S. F Eth...

Here's the answer from Genesis Mining regarding my "Lifetime Contract(s)":

Hi Z,

Because two out of your four different SHA256 contracts are terminated. You had four different SHA256 contracts, with daily maintenance fees of 0.012, 0.00079, 0.00055 and 0.0004 USD per GH/s per day. Daily maintenance fee is deducted from the generated daily coins. They cover all ongoing costs like electricity costs, cooling, maintenance work and hosting services. If the ongoing costs exceed the mined coins, there is no point in mining anymore - since you as a customer would have to pay more for the mining than you actually get out of it. We don't charge you for this difference. However it is economically reasonable to stop the mining if it is clear that this difference does not become positive again. This is why according to the contract we have the right to terminate the contract after 20 consecutive days of negative payouts.

Your earnings within your first contract (0.012 USD per GH/s per day) stopped right after Saturday, July 9th 2016, when the so called halving took place on bitcoin, meaning, the reward that bitcoin miners will receive was cut in half (check out your payouts that day). The details about the halving can be read here for example:
http://finance.yahoo.com/news/bitcoin-halving-blockchain-mining-000000868.html
https://en.bitcoin.it/wiki/Controlled_supply

It lies within the algorithm of Bitcoin, so unfortunately nothing can be done from Genesis Mining side to help you.
Discussions about the halving where online month ago as can be seen here on these links on well known forums and chats like reddit and bitcointalk:
https://bitcointalk.org/index.php?topic=1216445.0
https://bitcointalk.org/index.php?topic=1428863.0
https://www.reddit.com/r/Bitcoin/comments/3q59uu/9_months_until_block_reward_halving/

Your second contract (with the fee of 0.00079 USD per GH/s/day) afterwards mined really small amounts, and the hashpower mines less and less coins over time, due to total network hashrate, which is increasing in time (more and more people i.e. machines join the network), so your share in it is getting smaller and smaller. This lead to the contract in subject not being profitable (on the 15th Aug) so the payouts stopped at that time. Your contract became unprofitable and stayed like that for 20 consecutive days. According to "Mining Capacity Share Agreement", section 4.b: "The Service Provider may terminate this Agreement with immediate effect if the Coins generated in the preceding 20 days do not suffice to pay the Fee under 2.b above.".

To conclude, hashpower related to those two contracts, are now gone, and your mining is now done with 0.25 TH/s in the 0.00055 fee contract, and 0.2 TH/s in the 0.0004 fee contract. We hope this clears the situation.

Best regards,
Marti
Genesis Mining Customer Service

My response:

Seriously fucksticks,

I thought when I increased my mining power, I was increasing mining power to a single mining contract.

Done with you fucks.

Sincerely,
Z

...

So my experience with mining ...

Butterfly Labs 7 GH Jalapeno <- pure bullshit
PB Mining <- ponzi
and Genesis Mining <- ponzi

I recognize the importance of mining... but

My personal experience is that mining is pure ponzi bullshit ...

In 997 days I have mined 0.9611056 BTC worth of BTC @ BTC (98.15%), MZC (0.08%), UNO (1.58%), and DASH (0.18%) presently worth $608.38 with an ROI of -25.85%.

BUT - still better than flying an expensive model airplane straight into the ground (I always say)!

Actually ... I am reminded of my early days in Bitcoin in April / May / June of 2013; "It's a giant game of Geek Jenga", I said (to my wife, my kids, friends, my mom, anyone who would listen to me...) ... I still remember when my bitcoin holding went over $1200... what titillation that was... People. I am way beyond $1200.

Z

https://www.youtube.com/watch?v=1KsxHlJuVBU
Bitcoin Song - Jamie Shelly
Early Bitcoin Song from 2011