I WENT INSIDE GENESIS MININGS BITCOIN AND ETHEREUM MINING FARM!

in trevonjb •  last year

Here it is, the most anticipated, scam busting, confidence building, mouth shutting video of the year. Here is the video of my visit to the Bitcoin, Ethereum, Dash, Monero, Litecoin, and Zcash mining farm of Genesis Mining in Iceland. This thing was huge, loud, and very hot on the inside. The video footage does it about 85% justice. It was an incredible experience and I'm glad I'm one of the ones they chose to invite and prove the existence of the Genesis Mining Farm. They are amazing host very fun and outgoing which I was not expecting. The took me on a helicopter tour over some of the mountains and volcanoes of Iceland. As well as dinner where I ate, well tried to eat, a 2 pound lamb shoulder. I had an amazing time!

Enjoy!

Make sure you guys use my code TAFzNt and get 3% off of your order at GenesisMining.com on me :)

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I hope we will soon see quantum computers doing crypto-currency mining. Quantum computers will provide unprecedented processing power due to the superposition principle. That is instead of either '1' or '0' like in a mundane computer, a quantum computer can be in both '1' and '0' states at the SAME TIME! This is the secret to its super fast processing power. As we discuss, companies like Intel, Microsoft are working on quantum computers and their inception to tackle practical problems ( like mining crypto-currencies ) is not that far away in time.

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wouldn't this be a bad thing? too centralized. hashrate itself is not a good thing.

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It is know that bicoin mining it's mostly cetralized in China, Antminers are made in China, but it's not on China's interest to concentrate all the hashing power, that would render Bitcoin value less for the rest of miners / world.

Also Quantum computers are still very far away to be concern of, and the major concern would be that theoretically for a quantum computer it would be very easy to hack all the wallets that hold Bitcoin, ethereum, litecoin... so in these years to come maybe we will see digital coins taking distance of the traditional mining as it is done now, and implementing anti quantum protections.

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QRL is quantum resistant. Probably will see quantum computing in 5-10 years, buy now hold til then and be ready for a whole new world:)

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in·tan·gi·ble
adjective

  1. unable to be touched or grasped; not having physical presence.

Proud of you King Tre!!
Glad you can finally "touch" them....

👻

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if we will see quantum computers, you and me we won't profit. Until they are payable for normal people, thugs like Bill Gates, Mark Zuckerberg, Jeff Bezos, etc. will rob every coin they can get.

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It will all go proof of stake! No need!

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Very true man! I think quantum computers will drive the economy in the near future.

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If quantum computer is used, that could be the end of cryptocurrency as every account could be hacked with the power of such computer ! So mining with it will be useless...

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Look up the crypto QRL. The development is already underway, and at least one crypto is already a 'Quantum Resistant Ledger'.

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Quantum Computers will be awesome to secure blockchains!

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why would you want that? that would kill all small miners and leave the mining for the filthy rich! rich would get richer again and poor poorer.

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why are some cryptocurrencies minable and not minable, what are the advantages and disadvantages?

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Could you explain the difference between quantum computer power and GPU mining power? I know that quantum can calculate better than the fastest CPU, but how does it stack up against GPUs?

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D-Wave and Google have compared the performance of a 1000+ qubit quantum computer called the D-Wave 2x against typical CPU, GPU clusters and state that the former is capable of solving CERTAIN problems up to 100 Million times faster than the classical systems. Note that these comparisons vary according to algorithms, problem type, scalability, etc.

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They are way further then they say they already work with 64,000 qubits and mapped this whole world and know what everything is made out of and even the frequenties of our thoughts...they can even create humans with D-wave(software) combined with the building blocks of life (hardware)

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Next thing you'll know, we will find out that the human race has been engineered by some alien race & this planet has Geo-politics written all over it..LOL
And don't get me started on this flat earth thing..
But seriously Tim, they are many years ahead of what we are being led to believe..
But me thinks that a lot of these concepts are mostly theoretic & still being developed in the labs located down in the DUMBs..
911 & frequencies, has a nice ring to it though..
I'm open to discussion Tim.....
vortex-center.gif

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To add to your question, how about the cost? Quantum(experimental still) $15-20million GPU/CPU$1K. As well it takes 25 kilowatts to operate, most of which is used keeping it at the proper temperature to in order to run stable enough to operate ~15 millikelvin (-273° C). Quantums will never be used to mine bitcoin in my opinion, because the algorithm auto adjusts to solve blocks at 10mins. Burning 25000watts of energy for 10mins to have the chance to get 12.5BTC (soon to be 6.25) would put the cost to produce a single Bitcoin into the stratosphere. As well, a blockchain only remains secure if there are 1000's of miners distributed across the globe, so as to not make a central point of failure/attack.

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Me, personally I agree. I get it...really I do. But hell...If I had the money and the resources I would mine too. It doesn't take away from the fact that other folks would mine on a smaller scale than myself...But mining on a big scale in this case doesn't take away from the fact that it is still decentralized. Look...we need mining and miners. I tell folks all the time when I talk about Bitcoin...Bitcoin is one of the only investments out today that present 4 completely different scenarios for you to make money. You can invest, you can be faucet head, you can mine...or you can simply buy bitcoin and sit on it.

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So blocks will be both mined and not mined at the same time! :-)

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I was thinking about that a long time ago and this is the first time I hear it from somone. Where can I get more info on that?

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That would be pretty cool, some say that quantum computers will be able to crack cryptography.

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Look up the crypto QRL. The development is already underway, and at least one crypto is already a 'Quantum Resistant Ledger'.

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This place sounds like it is about to take off like the S.H.I.E.L.D Helicarrier. The future of computing is about to be flipped on its head by Quantum computers for sure. I can't wait!

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That is a great possibility. Crazy to think how quickly they could do it. Too bad I can't build one in my garage.

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Wait! Don't get disappointed that fast. Remember there are still LIVING people who used to submit their data on punched cards for analysis into huge room-sized computers! Technology and innovation is progressing at unimaginable speeds, thus a quantum computer for personal use may be not that far out :)

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:) I need to get Elon Musk working on it. I'm sure he needs one to power the equipment on Mars.

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Electricity on Mars will be prohibitively expensive unless we go with Thorium or at least have Matt Damon using his hamster wheel.

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Nice.

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Matt Damon can get electricity from potato

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sounds like a good idea.

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meep

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I think the closest thing to this that we have access to is using Amazon or Google's cloud services (particularly Amazon's because they offer machines with better GPUs). While not parallel computing, considering the insanely cheap prices those services cost, especially when you buy a discounted voucher from sites like bitcointalk....it's a very cool method until we get to the days of parallel computing.

Although, come to think of it...parallel computing might actually not be such a game changer. If you have parallel processes working on the same confirmations, the work wouldn't be segmented enough for multiple confirmations to necessarily occur faster. Single confirmations definitely, but multiple would need to use several instances...so I guess if you had several parallel machines hooked up together but with their computing power allocated across different nodes, then such power would be useful...

The increased difficulty levels in mining would accelerate dramatically if this tech were to be implemented and a great deal of miners would be put out of business or be required to spend a ton of money on new hardware...an option that might not be feasible depending on who rolls out such machines first and how aggressively they use it.

Time will tell.

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Especially nice to hear they are expanding their X-11 Mining Contracts for they have been sold out for t2 long. Nice to see the proof!

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Hi Octechdad. I would like to hear more about quantum computing as it relates to still keeping a decentralized system.

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I believe this would be horribly bad for the mining community and for the concurrency itself. the concept and power of the block-chain is that it is spread across a very large amount of users (miners), I like to think of those users as witnesses in a crime scene the more you have the more certain you are of what really happened, If one decides to change the story he would have to convince a lot of people to do so a gain credibility.
In my example a quantum computer is on its own representative of millions of users (miners) because of the equivalent Hash rate power, In other words who ever owns a quantum computer owns a big pool (Group of miners) creating a huge imbalance in the consensus of the network and maybe impose his on own path on the block-chain. There are more reasons why this would be bad for the crypto-network including power consumption of QC and ordinary PC's for the same instructions or affordability, how much will it cost? who would have access to it? Will it create a deeper and wider wedge between the elite and the poor? I believe the QC makes the future of crypto-currency even more uncertain, at least as long as it is based on cryptography.

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The quantum computers could be very disruptive for cryptocurrencies. Imagine if you are the first to develop computers that could take advantage of extremely fast mining. You could potentially own the market before too long until the next one comes along. Perhaps more ominously, what would happen if they render the technology behind cryptocurrencies obsolete?

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Yeah, I'm really excited for Quantum gaming! Just think about all the possibilities quantum can open up, exciting times ahead for sure.

Crazy, I would love to see that facility! I have an account there, kind of neat to see where my money is being generated. Kudos Trevon Upvoted!

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it totally looks like skynet, this is the future, doc emmett brown is way behind us even in his own future :) looking forward to see sth like this in real...

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LOL, love that movie.

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right lol

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Great Scott!

Awesome to see , thanks

Just made a huge investment in the company! Glad to see they are making a concerted effort to reach out to their clients.

very interesting.

Looks like the LONG journey out there was totally worth it. There will be a lot of cryptoheads appreciating this one, thx @trevonjb!

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I for one appreciate the recounting!

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Coinbase! needs that but at least they are reversing that crash loss
https://steemit.com/gdax/@austinsandersco/gdax-reversing-margin-calls

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definitely... this trip/video sets the record straight.

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Yes, kudos indeed 🖖 @trevonjb - I saw a brief snippet of this on another Youtube channel... Crypt0? KingOfDew? Can't remember. Was about to scour YouTube but before I did I happened on it here at Steemit. Gotta love my fellow Steemians. This place rocks. YouTube? We don't need no stinkin Youtube! lol

Just Amazing.

Promo code : Be86Pj

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no, the code is TAFzNt and get 3% off .. and you support the author of the video. Why are you posting yours

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I placed mine in case he needs to save 3% as well. Sharing is caring.
Thanks.

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This is why I'll never sign up for anything that "encourages" you to sign up your "friends". You end up with this garbage everywhere. Lame as hell all the way around.

If it makes such good money, you don't need referral codes. Just prove to people that you're making money. But no one is doing that. All people do is spam referral links and talk about how legit cloud mining is. Maybe Genesis is legit, but I'll never know. I don't mess with anything that encourages spamming referral codes to everyone.

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Genesis mining code
a6qNQ2

Use it up everyone much appreciated thx

that place is huuuuuge

Thanks for sharing. Good info :)

time to start investing you have shown every one! Its real! and now your Genesis account is going to explode!

Nice. I hope you earn enough from this post to cover those BTC you lost.

just peeped the video @trevonjb, great shit man im hella proud for u to have had the experience. hope its the first of many!!

Hello trevonjb,

That's a very interesting story about and it is good that you posted your source. However, this is basically a copy and paste of the source material. Doing that is considered plagiarism and can get you in trouble. I understand that English is not your first language. I think we would prefer to see broken English than plagiarized material. Please post things you actually wrote yourself. There is no problem with referencing the material of others and then writing about it provided you use your own words.

Thanks for your cooperation.

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What are you talking about! your post makes no sense.

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Well then! That does make sense then. lol Thanks

This is freakin enormous :O Imagine the amount of power, which gets used the whole time.

I bought more mining contracts after watching your video. I m totally sold on Genesis mining and have invested more than 20k on it. Good stuff and appreciate your efforts to validate the authenticity of Genesis Mining. Thumbs up man!!!

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how much have you made so far with the $20,000 invested??

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about 4k+ per month

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Damn man, I am really kicking myself for not throwing the 500 in I was considering a year ago

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Cha ching! Nice. Makes me kinda regret that worm-farm investment now... 😁

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I'll be interested to see how it goes.

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poor you, let us know when you break even - by the way, how would you know that you break even. Your 20K´s performance put in coins directly would be the baseline, right?

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haha i already break even long ago. this 20k is just pure profit reinvested.

Awesome! Thanks for the tour!

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Yes, it's really awesome. I would have never imagined that :D

This would have been one hell of a time. Glad they do this tho to show it is real.

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Yes! Good reason to visit Iceland!

Soooooo thats where all my money is!!!

GM most trusted could mining company in the world! No way a scam! ITS ONLY THE PEOPLE THAT HATE THAT DONT EARN FROM IT!

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I don't know if Genesis is legit or not, but why do people spam referral links so much if the money from mining is so good? I signed up 5 people to steemit without referral links because I could prove that I was making money. All I've seen from Genesis is "IT'S TOTALLY LEGIT! USE MY REFERRAL CODE!"

Something seems off. I want to see earnings from someone who hasn't shared a referral code with anyone. How much do people earn when they buy contracts and don't spam their referral code?

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The mining calculators there to base you rough payouts there with mining difficulty, But if you was to use GM why would you not want to get 3% discount on your next purchase anyway! And if you was to use anybody ref link they would get free hashing power! But you don't need to get referrals to make with GM but if you do get refs then its much more greater!

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I understand that. And if I was going to sign up, I probably would use a code, because 3% off is 3% off.

I just haven't seen anyone post a video talking about their earnings without referral codes. All of the videos gushing about how awesome GM is are made by youtubers who have tons of people using their referral code. I just want to see what actual (non referral) GM earnings look like. I haven't found a video like that yet.

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I understand what your saying dude!

I don't have many referrals compared to the big players like these guys! I started a youtube channel and F**d it off after around 1 month because the same stuff was repetitive. Most of my 12k In GM is my own money not like these guys where its all bought from referrals! You can make with it but X11 the best one has sold out so I don't see any other apart from maybe XMR that will have huge potential on GM in the future if the price rises!

I've been using Genesis since 2015, mining Ether...always been a little suspicious about their fees. I'm still very skeptical after calculating what I've made over the years if I actually would have made more if I had just bought the amount of Ether I could've with the $500 I invested, instead of paying Genesis to mine it. I paid $500 to mine Ether with Genesis when Ether was at $10...when Ether hit $400, I had $12,000 USD. Had I bought Ether with the $400 I invested, I could've bought 40 Ether...when it his $400, I would've had $20,0000 USD. So how is mining with them profitable?

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Great point... it probably is very profitable when most of the money invested comes from referrals and not your own money.

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Very good point.. Didn't think about it from that perspective. Thank you for that


I can't believe how high the electricity bill is for that place as 1 million euros a month is a lot for anything. I just finishing watching a video of a reporter trying to get information from him which would have resulted in a bad situation for the farm.

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Thanks for sharing this short vid as it gave me a better understanding about bitcoin. This is all new to me. I wonder if theres a book "bitcoin for dummies" or something. As i'm a part of this community i'm clueless as to how and why this generates any monetary value for a regular joe smoe like myself. There's a lot for me to learn i see.

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The book bitcoin for dummies can be found here https://www.amazon.com/Bitcoin-Dummies-Prypto/dp/1119076137 . However, cryptocurrency as the concept in itself is not as difficult as some make it out to be. I have a background as a cryptographer and putting it into the simplest form cryptography is nothing more than a pair or series of keys and or codes that interconnect a type of information. To an extent you could compare it to that of a handshake. Nothing can occur prior to the pairing taken place as the information will not be complete.

Mining generates money because it is an easy way to not have to pay people that work 24 hours a day and don't call in sick. The coin is stronger with a stronger network of mines. This doesn't take into account inflation, increase in coin circulation and other things. This site is able to pay people because content costs money and usually sites such as Facebook make millions per day because of user provided content. The only difference is they don't share in the gains or losses of revenue as the company grows or shrinks.

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Bless up brother. Thank you for taking out the time to break it down in the simpliest form and terms i've come across yet. I Appreciate that.

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No problem. I'm not a fan of people making something so simple seem so confusing.

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Oh wow now I see it in this awesome video thanks for posting @amadat

Thanks - was already rethinking my investment in genesis - but now I am fearlesd 😉

That was one of the coolest things I 've seen in along time. It rocks to be you right now!

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Absolutely, would love to go too

Awesome! What a rare treat to be able to see inside the facility! Thanks @trevonjb for the inside look.

Wow, great video @trevonjb It's so nice to actually see the physical operations of the place. The place looks absolutely huge.

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I agree, the same here

Hey @trevonjb just wanted to let you know this video is playable in Canada, had problems with the last one you posted but this one works flawlessly.

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Are some videos blocked in Canada?

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usually they aren't but for some reason this one was

Geeze that’s huge. It looked like they where using gpus? Defo need to buy some more hashpower so I can fund my education. How many hashes did they have in total?

Good to see that they care about the community. This will improve their public view. Thanks for sharing.


You are being followed by a coin puppet!

Please follow it back ;)

wow, helicopter tour in Iceland! thanks for sharing this experience with us, I had some doubts about G-M too, this video made me to think about it in a different way

Can you ask them why liquid cooling is not an option? I seen a Bitcoin mining farm close to Hong Kong Airport in 2013 where they were using oil and at the time they were overclocking and saving so much in cooling. I couldn't tell what they were using to mine as they were concealed in vats.

Quite an achievement to be invited by Genesis Mining. respect !

Wow.. that is really huge....thanks @trevonjb for clarifying all the doubts about genesis mining , now we can invest here without any fear.You have done huge beneficence to this whole community, you will be rewarded for your efforts.

@trevonjb Lead the way brother! Thanks for investing your time for the STEEM community. #MythBustingTre lol

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He is doing great

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@trevonjb a resteem for ya, you are blowing up with these posts bro. Keep killing it!

You are awesome and very encouraging. Your going to genesis mining will give lost of us hope and beloved that genesis mining is real and not fake. Kindly follow me @bewajijohnson and also upvote. Thanks.

holy smokes you made it in there! great to know that my investment is being used for expansions of the sort. I have been looking for move videos supporting Genesis's mining computer setups. So awesome thank you! I wish you the best

Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do,
thanks for sharing ,
love it..i wanna join you.

Thanks for the tour! This is of great value for people that's about to buy mining contracts.

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Ether costs too much money to mine. I've been mining for with Genesis. I would've made more money had I just bought Ether for the value it was at instead of spending it to mine

Post some pictures of the helicopter ride! Was it scary?

The advantage balances genesis mining facility past a backward suspicion. Genesis mining facility awaits etherium mining difficulty against a frightening bishop. The crack decks genesis mining facility near the particular lemon. Etherium mining difficulty nicks genesis mining facility around a graduate. Should a specialized tea stem return on investment? A risk you take dogs a comparative suspicion. Return on investment overflows! Return on investment bucks! Good video pads smart trading around the burst. The rail troops good video beneath an emulator. This pool cruises! Good video apologizes for a choir next to the inverse.

Always sharpen weapons in a grove of teak trees on a sunny day.

Holy crap! The servers are ridiculous!! Genesis is bossing crypto mining! Are they beginning to create contracts mining other currencies?

I hope Nvidia Volta is good for mining. GTX 1060 only does 20mh. But it's great for low heat output.

Insane :D can't wait for more x11, I hope the soon is really soon .

Thats so cool. That really does raise my confidence a lot!

That seems like a cool experience, I was in the Air Force and Iceland was one of my biggest fears for an assignment. LOL But for what you went for is cool!!!

Is it worth buying into these genius minig schemes?
I've seen Craig doing it and it's got me thinking if I should do it as well

That is super impressive. I am so new to crypto and to see that building, all those computers and that outside space is so impressive - thanks for sharing

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I actually have more confidence in Genesis now

RIP haters. Genesis is for real

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Genesis is for real. I've been mining with them for at least 4 years. BTC then Ether. It is for real, they always pay me, but that doesn't mean it's profitable or a good investment...I can personally guarantee it is not a good investment. I would've made WAY more money if I had just bought Ether 2 years ago, instead of spending that exact same amount of money mining. Genesis is a legit business, but they're the only one that benefits

Damn dude. What an opportunity that was. Would love to know their energy costs lol

@trevonjb wow that server room is absolutely mental wowowowow keep posting more great post followed

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I agree, good one

holeeeee sheeet! that's incredible. Thanks for sharing this with us.

Is that farm in Iceland?

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Oh, I guess it is in Iceland.

wow i know about this mining farm in iceland but they re keeping the location secret thank you for sharing !!

Yep, exactly as I believed. The guys from the TEDx talk. Marco.

I started mining with Genesis Mining yesterday by buying two minimum contracts. Follow me as I will give updated posts about my progress, how much I'm making, how I'm reinvesting, etc.

I already watched this video in youtube when you uploaded it. It's freaking huge a lot bigger than you expected and i can't even imagine.

Ok @trevonjb, I'm officially putting my vote in for you as U.S.A.'s official ambassador of STEEMIT! Thanks for the AWESOME posts mah brotha! Peaz!✌

Woooooooooow.... I'm in awe.............................

Man that awesome. Sounds like you got to have fun while shutting up some haters at the same time!

It is huge, wonder how much money they've put in that. Working there without ear plugs must be difficult, even outside it is very loud, ok I see they did give you ear plugs. As for the heat I guess winter must be kind of long and the summers aren't so hot so it must not be that much of a problem for the equipment, but do they have air conditioning, I just saw fans, probably not, I hadn't seen that kind of ventilation system.

So cool!

I mean that literally - can't imagine it gets very warm there in Iceland, plus got to keep those machines from overheating.

I'd upvote this but my power is only at 59%. Darnit! Gotta conserve...uh...energy.

Wow! This is great to see from an independent 3rd party!!

This is the first video that has made me feel confident with genesis mining! Thanks for taking the time to do this for our community :)

Can you get me an invite to visit as well?

Thanks for doing this Trevon. I feel slightly better about my Genesis investment now. :)

There you have it. It is the real deal. Great video Trevon!

I enjoyed watching the adventure into the mining farm. I Expect the unexpected in this one. It the real thing guys.

How exactly does mining work? Like if you are mining through Genesis, do you need special equipment or hardware for your computer?

Cool, thanks for the tour.
a lot to take in for a noob, started about 2weeks ago... wish I caught onto this craze a few years ago.
anyway mining xmr, bcn and last few days eth.

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Hey @elagardien

How are you mining those crypto currencies? Are you using genesis mining?

Thanks

Fantastic experience. It is incredible to have the chance to visit a crypto mining farm like Genesis. Thanks for the video!

Killing it on this post in terms of value! Congrats dude!

I have to admit I've been really skeptical about this. But seeing you in action on the actual server Farm may have changed my mind. I think it is really really cool that you actually went to Iceland also and a helicopter ride? Hell yeah. Sounds like you had a blast.

Cool @trevonjb Thats a adventure.

Hope you have luck ad get your investments back in both time and money. I not try this kind of mining site yet.

I stick to the real mining site who have a pool and history.

Now i think about set up some new miners lookning for some good fast vps service to use.

Please post more of your success with GM and follow me at @mrstaf

I will upvote you

Sweeeet this is so freakin cool - thanks for sharing Trevon! LOL at that girl chucking something at that fan. I can only imagine how huge and how loud everything was in person - that's a lot of GPU power!

I was just finishing up a post when I saw you post your video on here. Now that I'm done writing for today, I get to sit back and enjoy this awesome tour. Definitely a once in a lifetime opportunity and we're all so lucky to be following along with you - thanks for the memories!