Genesis-Mining

Genesis-Mining.com || World's largest hosted Scrypt hashpower provider

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Hey Miners!

We wanted to let you know that we have just conducted the first Zcash payout for you!

This payout contains all your mining rewards from the launch on 28th October, 16:30 UTC until 29th October, 15:30 UTC which covers the first 22 hours of mining. We made this as it was our desire and highest priority to send you as much ZEC as soon as possible. If you haven't provided a t-address before the payout, your ZEC mining reward will be balanced and is paid out with the next cycle in 24 hours.

We are very glad to say that we managed to deliver without any delays!

The launch of Zcash, and the mining hardware have both gone smoothly according to plan.

With that in mind and given the very high demand, we wanted to announce that we've started the limited presale of 1 year Zcash mining that will go live on December 1st.
We will continue to update you as we have more info to share, if you want more info about Zcash you can check out our report.

Want an update you can watch? Check out our recent webcast here, and you can find pricing info here.

 

Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

 

 

-Marco,

 

Genesis Mining

 

 

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Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

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Hey Miners!

At Genesis Mining we are constantly working to improve our mining services - both software, and hardware. Our engineers have been hard at work finding new ways to improve, and they have made a breakthrough. We are happy to announce that all existing Zcash contracts have received a 25% hashrate increase - free of charge!

 

We have updated our pricing page as well, and our current offer now includes the 25% upgrade!

 

 

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Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

 

And that's not all - we are also slashing the price of our X11 contracts!

If you've been waiting for your chance to dabble with one of the most popular X11 coins, Dash, then now is your chance: pick up our Gemini package (5 MH/s) for $30, our Ferox package (100 MH/s) for $500, or our Graviton package (500 MH/s) for $2250!

As always you can find more info about pricing here.

We've got to get back to improving your hashrate, but for now, happy mining!

 

- Marco Streng

 

   Genesis Mining

 

 

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Edited by Lisa de Boer

Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

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4th Zcash Mining Efficiency Upgrade

 

We have been working hard to improve the efficiency of our Zcash mining algorithm, and we are happy to announce that we are upgrading your hashpower by 30% for the fourth time! After providing three previous upgrades (300%, 200%, 25%); altogether we have upgraded our efficiency for you by almost +1000% with the latest upgrade.

 

 

Zcash has had an exciting launch, and we have enjoyed helping all of you start mining from day one. We are continuing to evolve our service to provide you the most efficient mining experience while remaining the most affordable Zcash provider.

 

Zcash is still in the slow start period, which is free for everyone who got a contract before launch. We will keep you posted on when the transition is occurring with everything you need to know.

 

We’ve also updated the contract pricing respectively, as this upgrade is free! If you are still getting familiar with Zcash, check out our Altcoin Report here to learn more!

 

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Genesis Mining is happy to offer a extra discount code to all customers, simply enter discount code MOON at checkout.

 

 

Many of you asked for it so we have added our “Genesis Mining Advanced Autotrader” to Zcash mining! This means that you can now mine Zcash and choose to have the mined ZEC (AUTO)-exchanged into BTC or ETH for payout! To choose any of these options, please visit the Mining Allocation page and select Zcash.

 

We’ll be updating you about Zcash and all other Cryptocurrencies in the future, stay tuned for more updates!

 

Your Genesis Mining Team

 

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Edited by Lisa de Boer

Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

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Hello miners,

Black Friday and Cyber Monday are right around the corner so we wanted to let you know that we will be doing a Black Friday sale all the way through Cyber Monday (12:00AM UTC Tuesday). During the sale all Genesis Mining products will be 5% off!  

 

Mining contracts we currently offer are:

– Bitcoin
– Ethereum
– X11 (Dash)

Other exciting news, our team has been working around the clock and as a result of their efforts Ethereum contracts are back! If you are interested in getting an Ethereum contract check out our pricing page!

 

More Discount?

You can use our discount code MOON and get additional 3% off the already discounted prices for cloud mining hahsrate in the Black Friday/Cyber Monday Promotion.

--

 

Lisa,

Genesis Mining Team

 

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Edited by Lisa de Boer

Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

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Zcash Update!

We’re glad to announce that our work on the Zcash mining software is successful and we have increased the Zcash hashpower of every user that obtained a contract before 30th November 2016 12:00 UTC for 30 percent. We’ve also updated the contract pricing respectively!

 

Lisa,

Genesis Mining Team.

 

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Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

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Zcash Update!

We’re glad to announce that our work on the Zcash mining software is successful and we have increased the Zcash hashpower of every user that obtained a contract before 11th December 2016 11:00 UTC for 20 percent!

 

We’ve also updated the contract pricing respectively!

 

Lisa,

Genesis Mining Team

 

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Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

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Hello Miners!

Happy New Year! The new year season is particularly exciting for Bitcoin since the first 50 Bitcoins were created 8 years ago!

2016 was full of exciting news in the world of cryptocurrency! We've seen continued blockchain innovation; the steady growth of Bitcoin; increasing global acceptance of the currency; and of course, Genesis Mining has been growing to help provide the best hardware and service for you, our customer.

Before we get into the details, I wanted to take a moment and thank you: our valued customers. Your passion and support have allowed us to keep pushing the boundaries and excavating new frontiers in mining.

 

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An amazing start to 2017 saw Bitcoin blitz past $1000 - nearing it's highest point for the first time in three years! We've all heard the naysayers, newspapers, commentators and so-called experts declare Bitcoin dead, time and time again - but those of us who understand the technology, and the value it brings to the market (and the world at large) know that this steady increase is a sign of the growing confidence in cryptocurrency and blockchain technologies at large.

2016 also saw huge advancements for us as a company: we've summarized our biggest achievements in a recent blog post which you can find here

We're always making improvements, and we welcome your suggestions and ideas!


That's not all we have planned, of course, but 2017 is just beginning, and we'd hate to spoil the surprise. It's going to be an exciting year, dear miners, and we're looking forward to a whole new year of success.

 

Genesis Mining is happy to offer a discount code to all customers this Year, simply enter discount code MOON at checkout.


Thanks,

Marco Streng

 

 

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Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

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Dear community,

We’re glad to announce we reintroduce Scrypt mining contracts!

 

No maintenance fee, and running for 2 Years, here's a bit more info on pricing for you as well!

 

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Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

 

 

 

The world's leading and most transparent hosted hashpower provider for Bitcoin and Altcoins. Reliable & Customer Oriented.

 

Have a great weekend!

Lisa de Boer,

 

Team Genesis Mining.

 

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Edited by Lisa de Boer
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Hello Miners,

 

It’s said by some that if Bitcoin is digital gold, then Litecoin is digital silver – a relatively less valuable cryptocurrency that’s easier to obtain, and easier to make transactions with. Created by an ex-Google engineer, Litecoin was made to supersede Bitcoin; it featured a higher market cap, a faster block generation time, a different hashing algorithm, and a modified GUI. The result was something that gave digital currency a much needed foothold in the door of the financial revolution.

 

The History of Litecoin

Litecoin was born out of the ashes of failure – or, more specifically, the ashes of Fairbrix. A clone coin (and a fork of Tenebrix), Fairbrix was plagued with problems that led to its swift downfall. A premine period put seven million coins in the hands of a developer before launch; a software bug saw the genesis block fail to mint coins. Fairbrix left the cryptocurrency community clamouring for a Bitcoin substitute that the average Joe could mine on his hardware. And engineer Charles Lee decided to give them just that.

 

The Scrypt Algorithm

Lee wasn’t happy with the state of mining. At launch, Bitcoin was fair – anyone could mine with a CPU, and profit. GPU mining emerged, and it became a little more difficult, but the divide still wasn’t too great – until ASICs arrived.
 

ASICs are specially engineered hardware, designed to do one thing, and do it well – and it blew CPUs and GPUs away in terms of efficiency. Now, the average hobbyist could only dream of making a profit – if you didn’t have multiple ASICs, you didn’t have a chance.
 

Fairness was an outfit Litecoin wore best, and a staple theme in Lee’s discussion and work. A proof of work algorithm, he decided, was the best choice – a system where finding a problem is difficult, but verifying it is simple.
 

Scrypt – the algorithm that Litecoin and its deceased brothers chose – aimed to even the great divide between ASIC owners and the average miner. It did this by forcing the use of a specific part of the CPU (and GPU), called the scratchpad.

 

The Scratchpad

First, a comparison: Bitcoin uses Sha-256d. Sha-256d only needs computing power – this means that, given enough computing power, you can calculate ‘rounds’ of Sha-256d very quickly.
 

Scrypt, on the other hand, uses computing power and memory. This is because it generates a large amount of pseudo-random data, storing it in the scratchpad, and referencing the data in a random way.
 

The scratchpad is a fixed amount of space that lives in your CPU or GPU, independent of things like ‘VRAM’ and actual machine ‘RAM’. You can’t add to it, and it fills up fast. At launch, this made it impractical – if not impossible – to run on specific hardware like FPGA or ASICs. A very specific machine with a large scratchpad size would need to be made for Scrypt mining.

 

The Factors of Success

It was the approach to launching Litecoin – rather than the technology behind it – that generated the wave of publicity. The source code for Litecoin was launched a week before the genesis block, and Lee encouraged people to mine on the Testnet (a testing ground for altcoins, which doesn’t generate rewards or add blocks to a live chain).
 

This had a joint effect: not only did it get people talking about Litecoin, and it’s benefits, but their hardware was set up and optimized for the launch.
 

On October 7th, 2011, after mining only 150 LTC, Charles Lee released Litecoin to the world.

 

Litecoin Today

Litecoin was, primarily, a vehicle for investors who wanted to get in early on what could be the next wave of digital currencies.
 

Six years on, it’s left a very impressionable history. Sure, it’s not easy to find a pub that will take your coins – or a taxi – but you’ll be able to spend your coin on gift cards, pet food, and even jewelry.
 

It’s become a testing ground, too – big changes to Bitcoin could cost the market a lot of money, but with Litecoin, more risk is able to be taken. The community is smaller, so it’s easier to convince a large portion of people to upgrade – often, Litecoin tests out new features or experimental ideas that Bitcoin cannot.
 

The project got a small boost when Warren Togami – a former engineer at Red Hat – signed on as Litecoin’s lead developer – and created a nonprofit foundation to manage the Litecoin software, much like the Bitcoin Foundation.
 

Charlie Lee is still engaged with the Litecoin project and gives thoughts for improvement on various crypto-topics, for example including SegWit and Lightning Networks in Litecoin and Bitcoin.
 

Litecoin is traded on Poloniex, Kraken, Shapeshift and many more.

 

Stay tuned for our next report!
If you’d like to start mining Litecoin you can do so here!

 

 

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Disclaimer: Our Altcoin-Reports are provided to give an overview of available Altcoins in our mining catalog and the cryptocurrency market. We are not affiliated with any of Altcoin development teams and we don’t guarantee the accuracy of the displayed information. Furthermore, this is no investment advice.

Edited by Lisa de Boer
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Posted (edited)

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The ETF and You: What Bitcoin’s Big News Means

The latest news in the Bitcoin space is one that has been in the making for four years: the Winklevoss’ twins Bitcoin ETF will soon be accepted, or rejected, by the Securities and Exchange Commission (the SEC). This decision will leave ripples in Bitcoin’s history, and it’s the first step to legitimizing Bitcoin’s acceptance with the general public.

 

But first, let’s look at what an ETF is, and why they’re so important

 

Mutual and Exchange-Traded Funds

Funds are important – it’s a building block towards a particular purpose. The most common type of fund – a retirement fund – is a sum of money for after we’ve entered retirement, allowing us to live comfortably in our older years.

 

There are many kinds of funds, but the two main ones are mutual funds, and exchange-traded funds.

 

In a mutual fund, you’re sitting around, trying to figure out the best way to invest in the stock market. Your friends are, too. Sure, you could go out and buy a few stocks each, but you don’t really have the time – or the resources – to manage a diverse portfolio of 50, to 100 stocks. You can’t keep up on the news of when to buy and sell; you don’t know all the different buying and selling strategies, and you don’t have a lot of time to learn. So, what do you do?
 
You and your friends decide to band together, and pool all of your money you’d have spent individually on stocks into a professional investment manager instead. This manager is going to do all the hard work, for a little share of the profit.
 
To keep track of who has invested what (you might have invested one-thousand dollars, but Bobby next door only invested fifty dollars, the stingy bastard), you and each of your friends receive a share – a little token, representing your stake in the total investment. The more tokens you have, the more you’ve invested.
 
You still want to know what your money is doing, though, and you want daily updates. So every day, you investment manager tallies up the value of everything it owns, and divides it by the number of shares that exist. Now, you know exactly what each share is worth. If you want to buy more shares, you’re going to know the exact amount of cash to send your investment manager; if you want to sell shares, you’re going to know the exact amount of cash to expect in return. It’s a rather elegant system, and can be used for all sorts of things – stocks, bonds, commodities, and other assets.
 
And then, there’s exchange-traded funds – or ETF’s, for short.
 
An ETF is a type of mutual fund, too, except for one big change. A mutual fund is traded at the end of the day, all at once; an ETF can be traded through the day, like a stock. A mutual fund is steady, and prevents the market from fluctuating at certain hours; an ETF does the opposite, just like a stock, allowing you to potentially make it big if you’re lucky, or clever. Buy shares in the morning, sell them after lunch, buy them again before the sun sets – there’s no limit.
 
You’ll also be able to perform all sorts of stock-like strategies that you can’t perform with a mutual fund – things like selling short; placing a stop-loss; placing a limit order; or buying on-margin.

 

In short, an ETF is a powerful tool with the potential for great risk, but even greater reward. But it’s also simple, transparent, tax efficient, and well structured, and you can access it through any brokerage account.

 

The Effect on Bitcoin

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There’s been a number of ETF’s proposed for Bitcoin, and none of them have gone through the strict approval process that the SEC has set up – but the Winklevoss’ twins will finally get a decision this week, on March 11th.
 
An ETF will open the door for a lot of people to access Bitcoin, but also give it a stamp of approval that has it recognized by financial institutions and investment firms as a legitimate, recognized form of financial security.
 
Most money managers have a mandate that requires they invest only in registered securities; Bitcoin is not a registered security. These money managers can’t touch Bitcoin for their clients, no matter how good it looks. But with an ETF, institutional money is going to flow into Bitcoin in copious amounts, which not only strengthens Bitcoin as a currency, but strengthens its legitimacy to the public. Bitcoin will no longer be that “thing used to purchase illegal goods” – it will become something you can use for a retirement fund, or an IRA. It will be given a stamp of approval by a high-ranking institution that protects investors best interests. This is big.
 
We may also see a price jump – a surge of buy orders will flood from eager investors. Liquidity will dry up rather fast, though – most Bitcoin holders won’t sell, holding out for a bigger price or a better future.
 
But perhaps the most powerful thing the ETF will do is allow the average joe – someone who has very little technical experience – to gain access to Bitcoin. Investors will be able to avoid the process of purchasing Bitcoins on exchanges, handling storage, and dealing with theft and backup. This, in particular, was of huge benefit to the gold industry – you could invest in gold, without having to worry about storing and securing it.

 

What If The ETF Is Rejected?

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Even if the Winklevoss’ twins ETF isn’t approved, we will see other ETFs. Investors and entrepreneurs are bullish on Bitcoin, as the saying goes, and are pushing for the the digital currency to gain worldwide acceptance. There are two more in the pipeline, and the SEC will give a clear reason for why the Winklevoss’ twins ETF was rejected – others will be able to learn from their mistakes, and adapt their strategies.

 

The Future Looks Bright For Bitcoin

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The world is waiting with bated breath for the news; on March the 11th, we’ll find out whether we’ve won the battle, or if we still have a little more fighting left to do.

 

 

 

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Edited by Lisa de Boer
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Posted (edited)

Hello miners!


It has been exciting few weeks for Bitcoin, including reaching an all time high! And it's not just Bitcoin that's soaring, quite a few other altcoins are performing great as well!

With Bitcoin, Ethereum and Dash all on the rise, the media is starting to take notice. I was recently quoted in several articles regarding altcoin performance which you can find on our press page.

 

Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

 

I also wanted to share that we are excited to announce that we have launched Ethereum mining again with newest technology and an extended 2 year runtime!

Check out pricing here and if you want a little more info on Ethereum and how it is mined, read this recent Bloomberg article in which I discuss the future of mining Ethereum.

 

We are also relaunching our Customer Service Site with new information and will be adding educational videos as the rollout occurs!

We want to support your mining journey which is why we frequently optimize this site. Please use this site as a resource and reach out to our team anytime you have a question!

 

We'll keep you posted as the value of altcoins continues to rise as well as any major updates in the market!

 
Sincerely yours,

Marco

 

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Edited by Lisa de Boer

Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

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Read more about Genesis Mining and compare their contracts with Hashflare, Hashing24, ViaBTC and all other cloud mining companies at Allcloudminers.com. they publish ROI, payouts, break even days, costs, maintenance fees and much more. They have cloud mining reviews from all large cloud mining companies.

 

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What is Monero?

Monero is an open-source cryptocurrency with a focus on user privacy and scalability. It was released in April 2014 and is currently gaining popularity because of the innovative way it handles transactions on the blockchain. It is among the most popular cryptocurrencies.

Its source code is not forked from the Bitcoin project, but rather a complete rewrite of a blockchain coin architecture with scalable blocksizes already implemented.

 

The protocol

CryptoNote

Monero implements exciting new technology directly from the CryptoNote protocol implementation. The CryptoNote Whitepaper was released in fall of 2013 and focuses on transactional privacy. Transactions in Monero are processed through the use of cutting-edge cryptographic ring signatures, which are obfuscating the origin and size of the value being transferred by mixing in other transactions. This ensures that purchases, receipts, and other transfers remain private by default. As a result, it is extremely unlikely that a transaction could be linked to a particular user.

It is not possible to look up a Monero address balance on the blockchain. When a transaction is made a one-time address is derived from the Monero address and funds are sent to this address. The owner of the Monero address can control all his/her one time addresses at a later point in time.

 

Quote by moneromooo, Monero developer:

 

Think of it this way. You have a large ground (the blockchain), with remote controlled cars (transactions) racing. There are people around the area, controlling the cars. But you don’t know who controls what car(s).

 

CryptoNote_blockchain_analysis_ambiguity

Source: Wikipedia

 

Ring Confidential Transactions

 

An upcoming update to the Monero codebase from the Monero Research Lab is going to include a new feature called “Confidential Transactions” which will completely hide the sender, receiver and transaction value. The Monero team used the code written by Gregory Maxwell for the Elements sidechain project and adjusted it for the usage of ring signatures. The hardfork implementing Ring Confidential Transactions will likely happen towards the end of this year.

An important point to understand is that with Monero, privacy is built into the protocol itself and doesn’t have to be managed by the user.

Quote by fluffypony, Monero core team member:

 

The next step is for us to continue enhancing Monero’s scalability, usability, and privacy – which is precisely what we’re doing with things like RingCT, which will completely mask even the amounts that are involved in a transaction.

 

Technical Facts

Average block time between two blocks is 2 minutes. Mining will issue around 18.4 million coins in the first 8 years and afterward, a “tail emission” will issue sub-1% inflation to create a miner incentive.
Monero features a dynamic block size which is derived from the median of previous blocks. Once a spike in transactions happens, the block size will automatically adjust to include all transactions into blocks within a reasonable timeframe.

 

Current Ecosystem

MyMonero offers a web-wallet which lets users store and send Monero without the need to use the console wallet application Just make sure you back up your seed phrase before sending money into the wallet. It offers essential features like Overview, Send, and Recieve and comes with a slick user interface.

There are several Monero GUI wallets in the works, with announcements of upcoming implementations of Monero in the Jaxx mobile wallet, as well as the Exodus multi-OS desktop wallet. There is also an ongoing discussion about an implementation into a hardware wallet.

Monero is being traded on the following exchanges: Poloniex, Bittrex, Shapeshift and most recently BitMex

 

Additional Ressources

Official Website
CryptoNote Whitepaper Review
CoinMarketCap
Monero Stackexchange Q/A

 

 

Stay tuned for our next report!

 

If you’d like to start mining Monero you can do so here!

 

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Genesis Mining is happy to offer a discount code to all customers, simply enter discount code MOON at checkout.

 

Lisa,

 

Team Genesis Mining

 

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Disclaimer: Our Altcoin Reports are provided to give an overview of available Altcoins in our mining catalogue and the cryptocurrency market. We are not affiliated with any of the development teams and we don’t guarantee the accuracy of the displayed information. Furthermore this is no investment advice.

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