Search content
Sort by

Showing 20 of 37 results by Crypto_123
Post
Topic
Board Service Announcements (Altcoins)
Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider!
by
Crypto_123
on 30/07/2014, 07:22:31 UTC
Facebook post was:

"Better Prices and some astonishing news to be announced soon! www.Genesis-Mining.com at its best!

PS. Don't forget the coinpoll which will end tomorow! (https://apps.facebook.com/my-polls/coinpoll)"

Apparently something else will follow...
Post
Topic
Board Altcoin Discussion
Re: Monero Economy
by
Crypto_123
on 29/07/2014, 21:40:54 UTC
Hey guys,

apparently Genesis-Mining.com will add Monero to their mining engine. There is a public poll ongoing about this question ( https://apps.facebook.com/my-polls/coinpoll ). I like Monero so if you guys would engage at this poll as well this would be awesome.

Cheers
Post
Topic
Board Service Discussion
Re: Review of all cloud miners and leased rigs
by
Crypto_123
on 26/07/2014, 17:52:12 UTC
Post
Topic
Board Service Discussion
Re: PBmining - legit?
by
Crypto_123
on 26/07/2014, 17:48:13 UTC
I skimmed the thread and looked at the website. I'm suspicious as their price is very low and there is no evidence that they are actually mining.   Possibly a very professional ponzi.

Ponzis are realizing they need to be pretty smart to fool bitcoiners after the big Pirate fiasco.  See Bitcoin Trader (sponsoring bitcoin conferences to build its reputation - and very nice website).

I think a lot of people know that they are doing a ponzi, but they risk it and you can obviously make a profit out of it. It is at the expense of some who buy late relatively to the time the ponzi scheme will get to an end.
The prices are too low, and this is why it is not possbible (when you compare the prices to the prices of all other suppliers (Gawminers, Genesis-Mining.com ...)
Post
Topic
Board Service Announcements (Altcoins)
Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider!
by
Crypto_123
on 22/07/2014, 19:27:30 UTC
Don't waste your money! I've sent in my order a few days back, my payment has been confirmed for over 3 days now, I've tried to get some response via a support message; but nothing, no communication, the transaction doesn't show and the order is "pending". It seems that something shady is going on with their services, so again I would be very careful

I dont think this is GMs fault.
Something like this happened to me a while back..i sent the money to the exchange and got it confirmed many times in my wallet. Even looking on the blockchain i can see the coins at destination. I had to wait out about a week and they appeared there.

Supposedly this happens if you send it while being offline. I'm not 100% sure about this last part though.

Definitely GM is not trying to scam you.

I'm sure your problem will be resolved soon. Experience has shown that they react quickly and generously when problems like yours occur.
Post
Topic
Board Altcoin Discussion
Re: Cryptocurrency "The Alt-ernative" Beginners Reference Book
by
Crypto_123
on 16/07/2014, 23:06:14 UTC
What is about Blackcoin?
Post
Topic
Board Trading Discussion
Re: Where should i invest my bitcoins ? Wanna daily income
by
Crypto_123
on 15/07/2014, 22:48:00 UTC
Hello,

if you are looking for a daily income and don't want to trade yourself, finding a business is a very difficult task. There are - among others - two things you could do:

1. Mining

There are many mining pools out there. My advice on all them: Don't. Mining - in my view - is not an attractive investment anymore. The price per GH/s is simply too high with most of the sites out there. What's worse: You will never know how difficulty changes. With so many orders on new mining gear that could hit the consumer, the overall hashing power might increase big time making mining even more difficult.

Trading

There are websites out there that do the trading for you and will pay out the gains on a daily level. There has been much talking about one particular website lately that I personally have tried as well. bitcoin-trader.biz (there is my ref link in the link)

They do mining and trading. Forget about the mining (because of the reasons already stated). Their trading option is worth a look, though, if you are confident that they are legit. And this is the question with many, many, many, many Bitoin related web offers. In case of BT we don't know.

What we do know:

1. Your initial investment that they use to trade, will be blocked for 120 days. During those four months you will get a daily (Monday to Friday) payout that you can cash out or reinvest. After 120 days you will get your principal back.

2. They exist since November 2013 and so far have been paying all their investors. Unfortunately, this is no proof that they are legit. There is chance that they are paying their old investors with the money paid by new ones. We simply don't know.

3. If they are legit, then their offer is fantastic as they pay out around 0,8 percent at the moment. They do this with arbitrage trading, a method where you exploit different prices of Bitcoin on different market places to your advantage.

BT sells shares at 20 USD per piece so you could start with little money. Personally, I invested significantly more. Still, it's part of my previous gains I achieved with Bitcoin so it does not hurt as much if BT runs away. But I don't think that this will happen.

I hope that helped - good luck with your investment


iFlash

If you still like to mine choose wisely, check for example http://cloudmining.guru/ for more info.
Post
Topic
Board Altcoin Discussion
Re: altcoins and btc
by
Crypto_123
on 14/07/2014, 22:05:13 UTC
Alts have an effect by making the BTC more stable and have less/smaller spike effects. Simply because alts are traded against BTC and this generates a deeper market.
Some major alts like LTC and DOGE can also have small effect on BTC price, but not too much.


Only when you think of different crypto coins serving different purposes, it would lead to a higher overall market cap of crypto coins and therefore to a deepening of the market. By increasing the market cap of all crypto coins and introducing auto mining and trading mechanisms like the one of www.genesis-mining.com the price of bitcoin could be stabilized. This mechanisms mine the most profitable altcoins and exchanged them to bitcoin. Introducing a perfect market Smiley

I'm I don't quite see what you mean here. Why would that lead to the stabilization of bitcoin? And why does miners hopping around drastically changing the hash on different networks help?

Because it can cause a "deepening" of the market. The higher the market cap the lower the volatility since the impact if single transactions decreases. Whether the drastically changing hoppers stabalize or destabilize is a good question.. Think of high frequency trading (super computers which predict stock prices by using past price developments http://en.wikipedia.org/wiki/High-frequency_trading) On the one hand it smoothens market imperfections on the other hand it might cause significant price jumps.
Post
Topic
Board Trading Discussion
Re: Borrowing Bitcoin in order to rent hashpower
by
Crypto_123
on 14/07/2014, 22:01:18 UTC
Most mining rental websites will charge you a price above what you can expect to earn by using the hashpower

Yes, at least it currently seems so.. The person who borrows money does not only have to take the loss by renting hashpower but also has to pay the interest rate..
Maybe times will change concerning cloud hashing services..
hashpower rental sites will have no reason to charge less then wheat it would be expected they would earn by mining themselves.

It really only makes sense to rent hashpower if you are trying to test something/do some kind of research or if you are trying to attack a pool/altcoin


I think thats too easy. It is also a question of collecting enough money to be able to run rigs. As a provider you can use new revenue to buy new rigs and scale it up this way..

Besides that I don't think it is clever (from the view of the provider) to put all money on one bet. It also about risk diversification to rent hashpower to others. Especially because the development of prices and exchange rates is NOT predictable as you can see on the last two days upturn..
Post
Topic
Board Service Announcements (Altcoins)
Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider!
by
Crypto_123
on 10/07/2014, 23:06:44 UTC
So next conference is going to held in Tel Aviv . Is there any chance of south Asia?

Maybe the conference in Tel Aviv will be canceled (gaza war) and by coincidence relocated to e.g. singapore Wink
Post
Topic
Board Trading Discussion
Re: Borrowing Bitcoin in order to rent hashpower
by
Crypto_123
on 10/07/2014, 22:56:15 UTC
Most mining rental websites will charge you a price above what you can expect to earn by using the hashpower

Yes, at least it currently seems so.. The person who borrows money does not only have to take the loss by renting hashpower but also has to pay the interest rate..
Maybe times will change concerning cloud hashing services..

Post
Topic
Board Altcoin Discussion
Re: What's Your Favorite Altcoin?
by
Crypto_123
on 09/07/2014, 23:57:48 UTC
Feathercoin all the way. Apart from all the great work they are doing over there it has the best community I've found. Friendly helpful the whole package. We all need to learn about something right?

 Smiley Smiley

Made the same experience!
Post
Topic
Board Services
Re: Looking for a place to mine
by
Crypto_123
on 04/07/2014, 18:41:20 UTC
I am mining with https://www.genesis-mining.com They are based  Bermuda because of 0% VAT.

Price reduction today!! Contracts range now between 11.9 Cent and 9.4 Cent per kh/s (before it was between 18 and 14 Cent).
Post
Topic
Board Service Announcements (Altcoins)
Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider!
by
Crypto_123
on 04/07/2014, 18:32:23 UTC
I want to vote for the new coin that Genesis mining is going to add. Can anyone give me the link where i can submit my vote.

There is no permanent poll. Apparently they do polls every two or three weeks. The polls happen on facebook, so you should like the facebook page in order to be informed.
Post
Topic
Board Trading Discussion
Topic OP
Borrowing Bitcoin in order to rent hashpower
by
Crypto_123
on 01/07/2014, 17:16:26 UTC
What do you think about this business model? Would you give somebody a bitcoin loan for mining? Or take a loan?

I read that https://bitlendingclub.com/ offers a combined loan and mining service.
Post
Topic
Board Altcoin Discussion
Re: altcoins and btc
by
Crypto_123
on 01/07/2014, 17:04:32 UTC
Alts have an effect by making the BTC more stable and have less/smaller spike effects. Simply because alts are traded against BTC and this generates a deeper market.
Some major alts like LTC and DOGE can also have small effect on BTC price, but not too much.


Only when you think of different crypto coins serving different purposes, it would lead to a higher overall market cap of crypto coins and therefore to a deepening of the market. By increasing the market cap of all crypto coins and introducing auto mining and trading mechanisms like the one of www.genesis-mining.com the price of bitcoin could be stabilized. This mechanisms mine the most profitable altcoins and exchanged them to bitcoin. Introducing a perfect market Smiley
Post
Topic
Board Beginners & Help
Re: A list of Bitcoin investment opportunities
by
Crypto_123
on 27/06/2014, 16:45:39 UTC
Post
Topic
Board Economics
Re: Why the fuck do we still use cash?
by
Crypto_123
on 27/06/2014, 16:41:58 UTC
Go buy a hotdog on the street shop and pay him with paypal
LOL, now yes i got your point. bt why do we still use cash for larger transactions?

I personally don't know many people that use Cash for "large" purposes. Cash still has some advantages over BTC atm, for example it is much easier to transact in cash when you do not have access to an internet connection.
Another advantage of cash it it's relative anonymity as it generally cannot be traced and it is nearly impossible to determine who had/spent what exact dollar bill

I am glad you saying nearly impossible.  Wink I know law enforcement use "micro dot" technology to mark money, and serial numbers on bills etc.. to track "dirty" money. But as for tracking it, from mint to let's say 2 years use... yea I grant you that it's nearly impossible.

I think we will have fiat cash with us for many more years... Some people still trade in cattle in 3rd world countries, and they had "cash" for years.

Merchant adoption, would determine, how fast fiat cash would dissapear. {Imagine years from now, when people will say... "Do you remmember, when we still used cash, to pay for stuff"  Grin
Generally speaking most cash transactions are truly untraceable. It is just that you don't know which ones are not untraceable until after the fact (when an attacker uses this information against you).

I am not familiar with "micro dot" technology but I know that even using marked bills to track someone can be very difficult. If person A were to be given a marked bill they could easily give that bill to Person B who gives it to person C all the way up to person "x" and there would be little if any record/link to each of these transactions. It would be very plausible for person "x" to have a small amount of marked bills that are a small subset of all the bills in his possession and he would have no link to person A except for a legitimate business transaction with person "x-1" who would have no link to person A except for a legitimate business transaction with person "x-2" and so on.....

Best arguments so far Wink

And I don't think the future lies in the digitisation of every aspect of our lifes. I think people start to be sick of watching all day on computer displays. It's nice to actually "feel" the money instead of only mentally knowing that it exists.
Post
Topic
Board Altcoin Discussion
Re: I know everyone asks this same question, right?
by
Crypto_123
on 27/06/2014, 16:30:28 UTC
I belive in Reddcoin. Popular alt coin mining pool www.Genesis-Mining.com has lately added them to there mining pool (in total only 9 coins). These guys are professionals I think you can count on their oppinion.
Post
Topic
Board Service Announcements (Altcoins)
Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider!
by
Crypto_123
on 24/06/2014, 23:03:05 UTC
The secret is out of the box! We will be adding Darkcoin soon!

Stay tuned for more info!

Dear Genesis staff.

By now it is possible to get the payouts in Darkcoin (converted from other coins). But will it be possible to actually mine them in the near future? Seems to be complicated to bring together scrypt and X11 contracts.

Very good question! Right now we use our trading engine / multi-pool setup so that you can mine Darkcoin in the same way as you can mine Bitcoin. However, we are also investigating to offer native X11 / X13 contracts. We have the hardware and working already on the integration in our backend. For the frontend the main challenge is that we want to keep a clean and simple interface, but we think we found a nice solution. Implementation will take some more time though as our IT team is busy with two other features, which we will hopefully push forward in the next couple of days.

Offering different hashing algorithms in one easy-to-use platform, and accepting many crypto-currencies as a form of payment is our vision.

Happy Mining! Marco (K)



I like clean and simple ! Looking forward to your "nice solution" .