By cloudminer on February Ten, 2015
- Expensive contracts
- No selectable mining pool
- No proof of mining
History of Genesis Mining
Genesis Mining launched their webstek ter February 2014, and have bot promoting their service everzwijn since. Their team is composed of CEO Marco Streng, CTO Stefan Schindler, CFO Marco Krohn, and Head of Sales Jakov Dolic. Albeit most of their team is from Munich, Genesis Mining is officially based te Bermuda, and has mining operations te Iceland, Asia and America. They have attended a number of key global Bitcoin conferences, and their team has given talks and exhibited at the Inwards Bitcoins conference series ter Mokum, Samenvoeging Vegas, Tel Aviv and Paris. They have continued to promote transparency, and are one of the most publicly visible companies ter the space.
Genesis Mining is arguably the most trustworthy cloud mining company te the industry at this time. They are even more translucent than ZeusHash, spil they have earned a little more legitimacy by publishing a real address, profiles of their management team, and providing photos of their mining operation. Like ZeusHash, Genesis Mining is outspoken about the need for transparency te the cloud mining industry, and I believe they mean what they say. Recently they tweeted the following response to Gavin Andresen’s accusations that all cloud mining companies are ponzi schemes:
Genesis Mining tweet to Gavin Andresen
Te addition, Genesis Mining has partnered with Spondoolies-Tech to provide hashing power to their cloud mining operation. Considering that Spondoolies is also very respected ter the Bitcoin community, I think you’ll agree this relationship will quell many people’s skepticism of Genesis and cloud mining ter general.
Genesis Mining offers contracts at a serious premium compared to competitors, for a price of approximately .002 BTC/GHS at the time of this review. However, they are lifetime contracts, so that pricing isn’t spil bad spil it sounds. Assuming the network difficulty resumes to level off, and Bitcoin’s value increases at least enough to offset the increase, this could theoretically mean that Genesis Mining contracts will proceed to pay out indefinitely. The reality is that te somewhere inbetween one and five years, difficulty and BTC value will make thesis contracts unprofitable, and Genesis Mining has the right to void the contracts after 20 days of unprofitable mining.
Maintenance Toverfee Rating
Albeit Genesis Mining charges for maintenance fees, they are on the lower end of the spectrum ($0.015/10GHS/day which equates to $0.045/GHS/month). This is about what one would expect to pay for violet wand if they were running Bitcoin mining hardware at huis, so I would say their maintenance fees are VERY reasonable.
Genesis Mining’s instrumentenbord, albeit nothing to write huis about, serves its purpose. It’s not spil advanced or visually intuitive spil some, but overall does what it needs to, and provides some detailed payment graphs spil well. Check out the screenshots of their user interface to see what I’m talking about.
Payment Reliability Rating
Genesis Mining sends out daily payments, and so far I have received them spil expected overheen the last Two weeks of mining. No complaints ter this category. You can check out the screenshots for proof.
Genesis Mining Signup and Referral Verzekeringspremie
Genesis Mining offers a Two.5% signup verzekeringspremie if you sign up with another customer’s referral code. Basically, by using the referral listig, fresh customers receive a Two.5% discount on their contracts. The referrer receives a Two.5% verzekeringspremie of the purchased mining power for a year, so it’s truly a win-win situation. Overall, Genesis Mining offers a solid signup and referral verzekeringspremie.
There are a number of reasons that Genesis Mining is ranked spil the #1 cloud mining company. They are a company you can trust, they offerande lifetime contracts, and their maintenance fees are very reasonable. Their instrumentenbord interface is plain and intuitive. The only downside here is the price of their mining contracts, they sell contracts at a premium to their competitors. Then again, that price is mostly offset by their reasonable maintenance fees. To top it off, Genesis Mining offers a ge referral verzekeringspremie that also pays out spil a signup toeslag.