Genesis Mining review

1. Genesis Mining cloud mining

Genesis mining has been operated cloud mining since 2013. They are a Hongkong based bitcoin cloud mining company. They have farms in Iceland, USA and Canada. Genesis have a partnership with one of the largest ASIC manufacturer´s, Spondoolies Tech. Genesis write a blog about bitcoin. They update a couple of times in a month. Genesis also provide webinars a few times every year. During these, they film from inside the parks and talk about their ongoing projects.

2. Genesis Mining Platform

Genesis mining has a clean and nice platform.It´s very easy to get an overview and navigate through the website. They offer two-factor authentication. They also give you the opportunity to choose mining allocation between SHA-256 and Scrypt. We always have a discount of 3% for lifetime contracts. Use this genesis mining promo code CZL5k6 .

 It doesn't matter which code you will use - all promo codes will give you 3% discount . For example FB5 is Facebook's promocode for Genesis mining and will give you 3% also.

3. Genesis Mining Review - Statistics

Genesis has more than 100.000 members. The expected return on investment can vary. It depends on the bitcoin price and mining difficulty. Both of them are hard to predict but expect around 15 % return on investment if nothing dramatic happens.

4. Genesis Mining Review - Risks

There are a few risks with cloud mining companies. These are business transparency, flexibility, company size,equipment, and communication. Genesis is one of the largest bitcoin cloud mining companies. They have many farms with modern equipment. Genesis have put a lot of effort to maximize energy efficiency in their mining farms. Genesis is an actor prepared for competitors to show up. They are also prepared for a lower bitcoin price.

5. Genesis Mining Review - Support

You reach support by contact form or email. They are pretty fast to answer questions.

6. Our view on Genesis Mining

Our view on Genesis mining is that it´s a trustful actor. We have invested in Genesis mining since October 2014. We have received daily payouts every day. The bitcoin value and mining difficulty reflect the payouts. We have had little contact with support since everything has gone smoothly.

7. Genesis mining promo code - Invest

You need a bitcoin wallet to receive payouts. If you don't have one you must get one. We recommend COINBASE where you can get $10 for free.

1. Go to Genesis-mining.com.
2. Sign up with an email.
3. Confirm email.
4. Login.
5. Choose UpgradeHashpower.
6. Choose which type of contract.
7. Choose a payment method (Bitcoin, Credit card, Wire, Litecoin, Darkcoin, Dogecoin).
8. Choose contract size.

9. Genesis Mining Promo Code: CZL5k6

10. Check the box for the contract agreement.
11. Enjoy daily payouts.

12. 8. Genesis mining profitability

    
    

    

    We invested first time in Genesis mining in Oct. 2014. We have since then bought SHA-256 contracts for 9.3 BTC. We have collected all our net payouts and created this graph. As you can see we just broke even and now, start to make a profit.

13. 9. Genesis mining Ether mining profitability

    
    Total invested: 0.28 BTC = $125 (Since 2016-01-26)
    Total payout: $93
    Payout rate 2016-06-07: $0.5 / Day
    Estimated time to break even: July 2016 = Approximately 6 months
    These are our Ether cloud mining payouts from Genesis mining. We have invested in total 5 MH/s. We have bought Ether cloud mining contracts at 2016-01-26, 4 MH/s for 0.18 BTC and 2016-03-01, 1MH/s 0.10 BTC. Genesis mining increased the price of Ether mining rounds between our purchases. During the first round Ether was still a low valued altcoin with less attention. Between the rounds of Ether cloud mining contracts Ether gained huge attention and skyrocketed in price. That´s why the second round contracts are more expensive.
    
    

14. 10. Genesis mining pictures
    

    

    

    CZL5k6

    VISIT GENESIS MINING 

Ethereum mining and faucet

 Things have been quite crazy for Ethereum (ETH) the last days, so if you haven’t been paying much attention to Ethereum, then now you might want to get up to speed. 

Ethereum’s Ether (ETH) coins are mined with GPUs only and you can mine them with both AMD and Nvidia-based video cards that have at least 2 GB of video memory. CPU mining is also possible, but pointless since the hashrate you will be getting is way to little to be worth anything. 

At launch a few months ago Ethereum did not have an official GUI wallet, but now you have one in beta that can make things easier for not so advanced users to operate with their coins. Below you can find a list of updated resources to get you started if Ethereum is still a new altcoin for you.

•  1 Year Ethereum (ETH) cloud mining contracts from Genesis Mining
•  Another Ethereum (ETH) Faucet giving away free ETH coins to users

How to mine Ethereum on a Windows PC?

Ethereum is quite difficult to get mining on windows - although with a bit of help and following the tutorial below you can get it up and running and start your own ethereum mining project in 15 mins. We're going to show you how to start mining Ethereum on your GPU and CPU with Windows 64 bit in this guide. You will need to download two programs and need to have a decent GPU with more than 1GB of memory to get the most bang for your buck in terms of mining as Ethereum works on a memory hard hashing technique which GPU's are best at.

Running a CPU you might be able to generate 0.15 Mega Hashes whilst with a decent GPU with enough memory you could be doing upwards 25 Mega Hashes (you can choose a GPU to mine ether here and use our guide on how to choose a GPU to mine ether ). So in terms of total efficiency, taking into account electrical costs, a GPU is definitely worth it even if it costs you $200. (but you can also buy an Ethereum cloud mining contract)

Part 1 - Installing GETH, Syncing the Blockchain & creating your own address!

Step 1: The first thing you need to do is go to this link download Geth. Geth is the program that communicates with theEthereum Network and acts as the a relay between your computer, its hardware and the rest of the ethereum network computers so if a block is mined by another computer your Geth program will pick it up and then pass on the new information onto your GPU or CPU for mining.

Step 2: You need to unzip the GETH file and move it to a location on your hard drive. In this case we'll move it to the hard drive, usually (C:) - which will make the next step easier. All you need to do is copy the file you have downloaded and unzipped and move it to the hard drive folder.

Step 3:Now you need to run the program you just downloaded. To do this you need to run Command Prompt. You can do this by searching in the search function in Windows for "CMD" and then clicking on it when it shows up.

 

Step 4: Command Prompt is now open - and can look terrifying to people who aren't familiar with it. The Command Prompt box usually has "C:\Users\Username>" showing in it - where Username is your username - so if you log into your computer with the username cryptocompare then the command prompt box will open with "C:\Users\cryptocompare>". You need to tell the computer to look in another place Type "cd /" into the newly opened command prompt. You should now see "C:\>", You have just used the "cd" command or "change directory" command to make command prompt look at the C:/ drive.

Step 5: You need to tell your Geth program to create a new account. As you have installed it in your user directory in Step 2 then it is just a simple case of typing in "geth account new" and then pressing return/enter. This should look like this "C:\>geth account new". 

Step 6: After hitting the enter button in Step 5, you will be asked to enter a password - N.B. you will not be able to see what you are typing in so type it carefully. This is the password that locks your account and keeps your Private key safe - if you lose this password you will lose all your Ether attached to the wallet held by that Private key. Once you have entered your password and confirmed it by entering it a second time you will have created a new account! Congratulations your about a third of the way there.

Step 7: You need to tell your Geth Program to start communicating with the rest of the Ethereum network. You do this by typing in "geth --rpc" - this should look like "C:\>geth --rpc". Press enter and the screen should start downloading theblockchain for Ethereum - at this point you are synchronising with the rest of the Ethereum network. This can take a while depending on your internet speed and the current size of the blockchain, anywhere between 20 min and multiple hours. Sometimes your firewall can block this process - just click allow access. Keep this cmd open, you will need this to run in the background in order to be able to mine. Also make sure you start mining only after your blockchain is synchronised, not before.

Part 2 - Installing the Mining Software and Starting to Mine

Step 8: Now you need to download Ethminer which makes your GPU or CPU run the hashing algorithm that is integral to securing the Ethereum network through proof of work. You can download this here and be sure to scroll down to the bottom of the page to get the right version - the latest and most up to date one is right at the end.

Step 9: Click on the download and click install. Your firewall can cause issues but just click allow if it does so - the same is true of windows that doesn't recognise or approve the software - tell windows its ok when asked. Click through the installation process until Ethminer is installed.

Step 10: You need to open up another command prompt as in step 4 - so your going to get two scary looking boxes. Simply click right click on your already open command prompt in the taskbar at the bottom of the page and click on command prompt in the menu that appears. A new command prompt should open with "C:\users\username>". This is the wrong place to look for etherminer so you need to tell it the right place to find it.

Step 11: Type "cd /" into the newly opened command prompt which should look like this "C:\users\username>cd /" and then press enter. You should now see "C:\>", You have just used the "cd" command or "change directory" command to make command prompt look at the C:/ drive - not your user file.

Step 12: Type in "cd prog" and then press the tab button. This should look like this "C:\>cd prog" and then press "tab" which will automatically complete the phrase for the closest fit found in the C: drive just like autotext does on your Iphone. After pressing "tab you should see "C:/> cd "Program Files"" and press enter which should give you a new line saying "C:\Program Files>".

Step 13: Type in "cd eth" and then press "tab" and then "enter". This is taking you into the newly installed Ethereum Mining software folder. And this should look like this after pressing tab "C:\Program Files>cd "Ethereum 1.0.1"" and pressing enter gives you "C:\Program Files\Ethereum 1.0.1>" - this will look slightly different depending on the version!

Step 14: Type in "cd release" and press "enter". This should give you the line as follows "C:\Program Files\Ethereum 1.0.1\Release>".

Step 15 GPU mining (only do this after your blockchain is synchronised): Type in "ethminer -G" and press "enter" and then you should start mining with your GPU after building a DAG file which can take around ten minutes. There can be problems at this point. For example the program might say that you have insufficient memory on your Graphics card to mine the with Ethereum's Ethash algorithm. If this is the case you can still mine with your CPU or go out and buy a new graphics card! You can see our graphics cards and compare their return on investments here and check out our guide on how to pick an ethereum mining graphics card here.

If you get an error message press "ctrl" and "c" together to cancel the process. Then you can either retry it - or alternatively move onto step 16 and mine with your CPU rather than your GPU.

Step 16 CPU mining: Type in "ethminer" and press "enter" and you will start mining with your CPU. Again you will need to create a DAG file the first time you do this which can take some time. But after that is complete your "Geth" program downloaded in step 1 should start talking to your "ethminer" program and you should start mining!

Step 17 Hashing Power benchmark: If you want to get an estimation of your hashing power you can run "ethminer -M"(for CPU mining) or "ethminer -G -M"(for GPU mining). The command will run and you should get a result similar to the image bellow.

Step 15 and 16 possible error: If you are not patient is "JSON-RPC problem. Probably couldn't connect. Retrying in 1..." As you can see in the screenshot bellow this happens when you don't have the blockchain synced yet.

Good luck and if there are any problems type a comment in at the bottom of this article and the community will help you get started! And that said if anyone has any ideas to make this guide simpler please let us know and we'll update it as soon as possible! And if this is too difficult you can always follow our other guide on how to cloud mine Ethereum - the no hassle easy method to mine ethereum!

This guide shows you the basics of solo mining, it should give you a good idea of how everything is connected, if you would like to use a mining pool instead you can try our How to connect to an Ethereum mining pool guide.

P.S. If you like the desktop background in the last 2 pictures, you can get it from here: CryptoCompare Desktop Background. Also now that you are happily mining visit our Ethereum page if you want too keep up to date with the latest Ethereum price and market cap. 

Cryptocompare.com

Huge Discount from Genesis-Mining.com

Hi Miners!

We are pleased to announce Ether mining is back!

As you may have seen, the Ether price has gone from $1 to over $6 in the past month alone and we remain bullish as ever on the future of Ether!

Many of our early Ether customers have seen a tremendous return and we want to ensure our other miners don't miss out!

To capitalize on this rapid gain, please click HERE.

We remain dedicated as always to our miners and we are pleased to be one of the few providers in the industry that can provide our miners with this opportunity.

To the moon!

Marco Streng

PS --

Until Wednesday only, we are pleased to announce an 11% discount to all registered customers who have purchased something in the past. The discount is only available for Ethereum mining.

To use this discount, enter  "GM11" at checkout!

After that use "CZL5k6" at checkout!

Ben Bernanke: Bitcoin Has 'Serious Problems'

Former Federal Reserve chairman Ben Bernanke offered both muted praise and criticism when discussing bitcoin in a new interview, suggesting that government oversight of blockchain transactions could counter perceived risks.

Speaking to Quartz, Bernanke said that bitcoin is "interesting from a technological point of view", pointing to wider developments in the emerging payments space.

"We're in a world where the payments system is evolving quickly and new approaches to managing payments are proliferating, and some of the ideas around bitcoin will no doubt be useful in doing that," he told the publication.

Yet the compliments stopped there, as Bernanke continued:

"But I think bitcoin itself has some serious problems. The first is that it hasn’t shown to be a stable source of value. Its price has been highly volatile and it hasn’t yet established itself as a widely accepted transactions medium."

He went on to suggest that government officials might look to boost oversight of digital currency activity, highlighting the perceived anonymity of bitcoin and pointing to its role as "a vehicle for illicit transactions, drug selling or terrorist financing or whatever".

"And you know, governments are not happy to let that activity happen, so I suspect that there will be oversight of transactions done in bitcoin or similar currencies and that will reduce the appeal," he said in the interview.

The comments come more than two years after Bernanke, in a letter to Congress, highlighted the possible benefits and risks of digital currencies.

Image Credit: Albert H. Teich / Shutterstock.com

Coindesk.com

Why Silicon Valley Will Eat Wall Street’s Lunch

Wall Street, the world’s financial capital, steeped in decades of history, has long been the draw of top graduates from America’s finest universities. The allure of steely buildings, sharp suits, and neatly folded copies of the New York Timeshas inspired the cream of the crop to enter the corporate fray and work towards that house in the Hamptons.

That was so 2005.

Today’s brightest financial minds are increasingly heading west to compete for jobs at companies like Google, Stripe, Lending Club, and a whole host of Bitcoin, blockchain, and other fintech (financial technology) companies that many say are directly competing with Wall Street. The uniform has changed from pinstripes to hoodies, and the offices are open work spaces, not cold offices in high rises.

But behind the facade is an even more substantial shift, one from bureaucracy to independence; from stodgy habits to crazed innovation. Today’s millenials see more than a hip work environment in Silicon Valley, they see the opportunity to change the world. And many of them think Wall Street is the first thing that needs to be changed.

The financial technology coming out of Silicon Valley empowers users to totally control their own finances, expedite the transfer of funds, and invest in a range of endeavors that are too disruptive for Wall Street’s pallet. In short, the world’s financial rulebook is being rewritten, and consumers are buying.

This has not gone unnoticed in New York. In a letter to shareholders, JPMorgan Chase CEO Jamie Dimon profoundly stated that, “Silicon Valley is coming.” This statement explains moves made in the last year by dozens of the world’s leading banks to try to catch up to many of the groundbreaking initiatives that have been pioneered by tech companies.

Just last month a startup called R3 announced that 13 new banks had joined its partnership to explore how blockchain technology can be utilized by traditional banks. Among the list of new members were names like HSBC, Bank of America, Citi, and Morgan Stanley. These join other financial heavyweights that were already members, including JPMorgan Chase, Barclays, and Goldman Sachs.

The question that will be answered in the coming years is: which center of power will emerge as the leader? Wall Street has the war chest; Silicon Valley has the ideas.

There are a lot of compelling reasons to believe that Silicon Valley may emerge as the capital of fintech, and ultimately preside over a sizable share of the world’s financial power. It is not enough to have the ideas; it takes a commitment to risk-taking, innovation, and disruption to grow these new technologies to their potential. To date, Wall Street has shown little genuine interest in forging those paths.

Blog.genesis-mining.com

Return of Investment (ROI) X11 cloud-mining Genesis mining

What are the expected Return of Investment time of a Genesis Mining X11 Year contract ?

If you have a 100 MH/s contract the calculation is like this:

100 MH/s cost $1900 - (November.13.2015)

Mining Dashcoin with 100 MH/s = $12.62 daily = $378,6 monthly

Return on Investment can be = 5,02 Months


Discount promo code Genesis Mining: CZL5k6 - save $50.

Website X11 Mining: https://www.genesis-mining.com