Your Coin tijdschrift
Genesis Mining recently posted an interesting movie about the plans for 2018.
Wij bothered our readers and transcribed the entire movie.
Hello, everybody. Wij are already a few weeks now into the Fresh Year and wij want to take this ogenblik te order to wrap up the last year and talk about what happened there, and also give an outline of what is yet to come te the Fresh Year for Genesis Mining.
Additionally, wij want to give you a special insight into one of our newest facilities that wij have built. The last year wasgoed a year utter of chance and growth for the entire block chain and cryptocurrency world. It is remarkable to say that Genesis Mining has reached almost Two million customers towards the end of last year.
If a business is talking about a growth of 50 procent from one year to another, that’s something that is already fairly an achievement but those numbers are not even comparable to the numbers that you are experiencing ter the cryptocurrency world.
Genesis Mining has grown by a much larger factor than that and that is superb, but it truly has also waterput us te vuurlijn of a lotsbestemming of challenges that came with it. One of the challenges, you most likely recall, towards the end of last year’s summer where wij had a petite security breach into a part of our system.
It wasgoed nothing very critical and all the mining operations were unaffected but nevertheless, some coins have bot stolen.
This truly has waterput into a situation where wij have waterput all of our effort and all of our energy into solving that kwestie and fixing the system and improving it to a way that something like that will never toebijten again.
Wij have hired the best security specialist and indeed have done everything, and are very glad to say that this has bot motionless by now. Very significant to say here is that Genesis Mining (Verbinding from the editor: www.genesis-mining.com ) has covered all the lost funds to 100 procent so that none of you and our customers have experienced any losses from that.
I think this is something very remarkable and you’re not witnessing that for the usual other businesses. I think this is a fine sign to vertoning how significant you are to us and how significant it is to supply the best service to you. Shortly afterwards, wij had to face the next challenge and also very likely you know about it. I’m talking about the payouts. I truly need to say something.
Spil good spil block chain technology is and wij know now that it will bring a loterijlot of fresh advancement and a lotsbestemming of fresh technologies to the world, wij are still at its infancies.
And Genesis Mining (Listig from the editor: www.genesis-mining.com ) spil one of the largest players ter the space is a pioneer te that regard and wij are facing problems that other companies that are much smaller are not facing. The payouts is one of them spil wij are paying out every day a bulk payouts and thrust a large amount of transactions into the block chains te order to pay out our large amount of customers.
This is something where the entire team of our developers are working on day and night to improve and they are very good. They have bot into this space since the beginning when wij commenced ter 2013, and they are working together with the developers of the individual block chains like Ethereum, Litecoin and Bitcoin te order to address that.
I can also say that this problem is affecting some of the other major players. For example, the exchanges but not to that extent spil it affects us spil they are not doing thesis large payouts on a one time fundament every day.
Both the security breach and the payout situation te the end has made Genesis Mining (Listig from the editor: www.genesis-mining.com ) much stronger than any time before. Wij have learned a lotsbestemming te that time and wij are very blessed to say that wij have already, by now, improved the system to a much greater extent and wij have almost recovered all almost all the missing payouts.
I know that the vast majority of our customers are very blessed and successful with our service but also I understand some of you are truly missing payouts and are waiting for that. Surplus assured that wij are doing everything wij can te order to remain the situation and ter order to also pay out everything that is still missing and ter the end, have a system that is much more improved than the old one and have addressed that punt to the best extent.
Spil you most likely know, especially towards the end the last weeks, the block chain and cryptocurrency attention has grown to an extent that no one of us could have everzwijn imagined before. I think if you are going now on the street and talk to the usual people, they would very likely tell you which ICOs they have participated or which cryptocurrencies they have invested ter.
It’s entirely crazy so to say. This of course has waterput us into another challenge because the people, the entire world is now either wanting to buy cryptocurrencies or they want to mine them.
And when they want to mine them, they are most likely ending on our webpagina and this is also good but also, spil you know, our capacities are limited te a natural way. Wij can only work 24/7 and wij can only expand our teams to such an extent.
Wij are already building fatter farms that wij everzwijn have built but also our capacity is limited. Most importantly, wij cannot sell what wij don’t have. So that’s why when you are presently going on our webstek, you will realize that wij are sold out on all of our computing powers that wij offerande.
I want to say at that part a very good news to you that wij will be able to shortly relaunch and get back with a good amount of fresh capacity but wij have to see how wij will overeenkomst with that because what wij don’t want is directly after one or two days, after the relaunch that wij are sold out again.
So wij would most likely either limit the fresh capacity for each user or only operate to our existing customers. The next year now, I’m already very excited because there will be a loterijlot of fresh functionalities and then a lotsbestemming of fresh features coming up from Genesis Mining.
Shortly ter the interim future, you will see a Genesis Two.0 interface so to say which will give you a loterijlot of more sleek treating and a lotsbestemming of more efficient and better user practice on our webstek. Wij will improve our instrumentenbord and all the surplus and of course, wij will expand te the Fresh Year continuously our facilities and wij will build fatter farms that wij have everzwijn built.
Very arousing also to say is that Genesis Mining ter the next year will suggest services that go beyond mining and I’m very glad to say that.
So now, wij are standing te pui of the fresh facility and I want to say one thing which is very significant to mij. Security is one of our highest priorities and especially spil there is so much rente now from various parties that no always have the best intention and also a lotsbestemming of people attempt to copy us et cetera.
Wij have to be very much aware of that. So spil wij’re going ter, wij are only displaying parts of the fresh facility where wij can make sure that there is no intellectual property disclosed or any secret things exposed. So this is for the better of all of us and te particular for you, and I’m very excited now. So let’s get inwards and I would voorstelling you around.
So spil you can see, this entire facility is very high and also goes very long which increases also the efficiency on the cooling side. What you can see here is the very first row of miner and the ones of you who might has seen the buildout ter Iceland might wonder because it looks a little bit different.
Those machines you are witnessing here are very optimized, very more optimized machines and also which is very significant to say the force is much higher which permits us to deploy more computing capacity at a given area of space.
Let’s go around the corner to see the surplus. So you’re eyeing here that it’s going far, far behind and even behind the wall, it proceeds to go further. This here is the hot aisle and it’s very hot te here and what you can see here is that the cold air from outside is rushing through the miners and heating up, and then gets collected here. It’s truly remarkable how much airflow wij have here and you cannot imagine how hot it is too.
I also want to vertoning you here a petite view behind the machines. There’s a lotsbestemming of cabling you can see. So now, wij’re coming to a special location here. So wij have just seen the hot aisle and now wij’re getting ter to the cold aisle where it is freezingly cold. So again, here is the cold air coming from outside and the airflow is very high.
So spil you can see here, it’s indeed very high pressure and here wij are having the next aisle and of course, the entire facility is maintained and optimized by our in-house develop optimization device, Genesis High, which is also to the benefit of your because it increases the efficiency and the stability of the machines.
So what you are watching here, it resumes now on and on towards the end of the facility. Wij don’t need to go through it all. I truly, at the end, want to say thank you to all of you. Without you, this would never have happened and I would not stand here. So I’m very grateful for that, for all your support from the early days of 2013 until now, and I’m very excited for the Fresh Year to come. Thank you.