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Nicely done Bitmain. Good news on the new release and the hash power to electricity usage is superb. Keep up the good work, excited to see the final miner that uses these.
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Getting this error...
Warning: json_encode() expects exactly 1 parameter, 2 given in /home/a7180419/public_html/MarginBot/inc/ExchangeAPIs/bitfinex.php on line 98
on step 2 of the install. Any ideas whats going on?
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Question on PACMiC v2: If I have turned on autobuy at some point, is my "Principal" here correct? With this contract, I currently am supposed to have 1.42428115TH/s. Should my "Principal" also be 1.42428115 BTC, or something similar? http://puu.sh/jEQSx/047c6fe155.pngNo, your principal will not grow at the same rate as your mining speed. That seems to be correct the way that it is. Hmmm, but doesn't the .42ths come from "reinvesting", thus adding to the principal? If not, then what is the purpose of autorebuy? To hope thT difficulty drops and you have ahigher hashpower and break even quicker? yes it does, think of it like this on a per block basis... You have 1 TH/s of mining power and are owed 1 btc. A block is solved! You get .0001 btc as your payout for having 1 TH/s of mining power and .000025 of that is profit and .000075 goes towards your principal. Now without reinvest on, you have .0001 btc in your account and are still owed (1 - 0.000075) .999925 btc back from the PACMiC contract. You have a total of 1.000025 btc since you made a little profit. Now with reinvest on, instead of that bitcoin going into your pocket, it just buys more hashpower. You have your hashpower increasing by .0001 btc (because that is what hit your account from the payout from the block), but your only owed 1.000025 btc since that is all your profit was. Alright, Thanks. I have no idea why I have autorebuy turned on then. Because you earn more over the life of the contract. Your interest will also be compounding. |
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Wow, 25% is a amazing return rate.
Did you read what anyone posted or even the post before yours? 25% is unrealistic with these contracts, a better estimate is between 12 and 17 ish %. Still a really great return, but no where near 25%. |
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I can go ahead and do this for you at coinbase rate * .95%. I think my reputation here speaks for itself so you can go first and feel secure. Of course I always understand if you would like escrow and are willing to cover the fees that is perfectly fine, it looks like Quikseller is here, he can do it or Ognasty.
I can send the funds in about an hour to an hour and a half on my way home from work, provided the bitcoin have reached me or are in escrow by that time.
Let me know.
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Question on PACMiC v2: If I have turned on autobuy at some point, is my "Principal" here correct? With this contract, I currently am supposed to have 1.42428115TH/s. Should my "Principal" also be 1.42428115 BTC, or something similar? http://puu.sh/jEQSx/047c6fe155.pngNo, your principal will not grow at the same rate as your mining speed. That seems to be correct the way that it is. Hmmm, but doesn't the .42ths come from "reinvesting", thus adding to the principal? If not, then what is the purpose of autorebuy? To hope thT difficulty drops and you have ahigher hashpower and break even quicker? yes it does, think of it like this on a per block basis... You have 1 TH/s of mining power and are owed 1 btc. A block is solved! You get .0001 btc as your payout for having 1 TH/s of mining power and .000025 of that is profit and .000075 goes towards your principal. Now without reinvest on, you have .0001 btc in your account and are still owed (1 - 0.000075) .999925 btc back from the PACMiC contract. You have a total of 1.000025 btc since you made a little profit. Now with reinvest on, instead of that bitcoin going into your pocket, it just buys more hashpower. You have your hashpower increasing by .0001 btc (because that is what hit your account from the payout from the block), but your only owed 1.000025 btc since that is all your profit was. |
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Question on PACMiC v2: If I have turned on autobuy at some point, is my "Principal" here correct? With this contract, I currently am supposed to have 1.42428115TH/s. Should my "Principal" also be 1.42428115 BTC, or something similar? http://puu.sh/jEQSx/047c6fe155.pngNo, your principal will not grow at the same rate as your mining speed. That seems to be correct the way that it is. Okay, so now I have a question. Can you still have Autobuy on for v2? I thought once they sold out, and v3 launched Autobuy would be turned off, and start paying back toward principal? Yes it starts paying you back once V2 is all sold out. I have around 8 btc worth of contracts from V2 with autobuy enabled still, but they are paying me back now instead of continuing to accrue. |
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If one wanted to purchase Bolivares at the black market exchange rate, does anyone know where one might do this or is there anyone with connections in Venezuela who could ship stacks of these to America?
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Question on PACMiC v2: If I have turned on autobuy at some point, is my "Principal" here correct? With this contract, I currently am supposed to have 1.42428115TH/s. Should my "Principal" also be 1.42428115 BTC, or something similar? http://puu.sh/jEQSx/047c6fe155.pngNo, your principal will not grow at the same rate as your mining speed. That seems to be correct the way that it is. |
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All Hashnest contracts are in price downtrend now. I am standing aside and not trading until MA5 crosses MA15 on the UMISOO daily chart.
Looks like a lot of money was pulled and is being pulled to put into PACMiC contracts since the return on V3 is so good. Once the buying settles down you should see a gradual up swing in price as people start to get profits returned and put into hash until they can buy more contracts or the next version comes out. |
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Happy birthday! Get a high powered laser. They are a ton of fun and can be really beautiful. Just act responsibly with them cause they can be dangeroua, but I lit all of my fireworks off this year with mine.
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I have been around for a while here and can help with questions you may have. Just send a PM. Don't really have to worry about a fee but if your happy and want to tip that's cool.
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Yeah I am still on the fence but I would like to have more then the 10th I ordered. Maybe I will pick up 5th more on monday.
The being said, it looks like there is some issue going on as the 3 TH/s contract I purchased 2 days ago says it has been running for 2 days, and the other 3 TH/s contract I purchased yesterday has been running for 2.2 days and seems to have reconciled some blocks, but is still missing a lot of blocks when I compare the 2 contracts. |
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I really wanted to buy Pacmic v3 .
Several people had problems with lack of payments for Pacmic v2 . Hence the sad name : Pacmic is called Fucmic . Good product but the service creates unacceptable uncertainty. Philipma did you have similar cases with previous Pacmic v1 and v2?
first purchase was pacmic v3 10th 6.66 btc they just caught up paying they were 10 or 11 blocks behind. As much as I wanted to go to 15th I may not. The lack of explanation bothers me. Also these late payments are definitively manually enter since they are out of order. The first set were all in order. Disappointed that the largest builder of asic mining machines is having issues with payments. IDK if its any consolation, but when the V1 was launched there was this same type of issue. Took a day or two to figure out, but everyone ended up getting paid accordingly eventually. I saw it was happening again last night and wasn't too worried. This is a very large operation and lots of little things could happen that could cause issues. Bitmain has always acted ethically, so I usually just wait these types of things out. EDIT: NICE, looks like another 15 TH was added to V3, would have stunk real bad if you had to turn auto rebuy off after only 2 or 3 days, lol |
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Hello guys , im still relatively new to the mining world , just needed some breaking down to my question : does this mean if I but a contract of 1 TH , this will be my profit after is paid off?
0.00000000045 * 60 * 60 * 24 * 365 = .141912 this is most likely the best guess.
No, that will not be your profit. Reread the last 2 pages or this thread. |
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So philipma did you get more th.
Yes I now have 10 th I also think the interest rate is not 25 percent or 12.7 % It could max at over 12.7% percent since the contract is .00000008 per second per 1btc but the .000000008 slowly declines to .000000001 as you get paid off. the average payment is 0.000000045 even this could vary if you had tremendous Bad luck early then really good luck in making blocks late. then your contract pays off better then 12.7% but I think the floor % could be said to be 14% the max could get near 15-18% but not 25% floor number is 0.00000000045 * 60 * 60 * 24 * 365 = .141912 this is most likely the best guess. but it assumes a lot 1) the contract pays off in 120 days with very stable luck. 2) this means the avg pay off per each second of the contract is .0000000045 not .000000008 3) Some would use .000000004 not .0000000045 as the average then you get 12.6% So the minimum could be said to be 12.6% to 14.1% max is harder to estimate, but will never be 25% since magical impossible luck is needed for that to happen. basically make almost no blocks for 100 days then make tons of blocks the last 20 days… this would get you closer to that 25% but the math would be near impossible and antpool would go broke due to the 100 day streak of terrible luck. https://i.imgur.com/saKLXpZ.pngI am going to have to look at my google spreadsheet to see about the average payout which would make it closer to 14%, but I ran my estimate based off of average block times, so I want to believe it will be fairly close to actual. How are you getting that this will take 120 days to pay off though? I am getting about 71.5 days to pay back .666 btc or are you making it into 1 btc terms? |
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Anyone transacting for Paypal please use escrow. It is not safe for either side to go first in these types of transactions and you will only attract newbs trying to scam with offers like these.
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it's for one year, 0.000000008*60*60*24*365=0.252288  Could you provide your calculations on how the PACMiC V3 can achieve a 25% APR? Does that assume the auto rebuy feature is turned on all year long or some portion of the year?
But, your not earning .000000008 btc per second all year long, in fact, with the new cost being .666 btc, you don't even earn .8 satoshis per second on the first block found. Also, it is impossible to earn .8 satoshis for an entire year (given no difficulty or price changes) because your taking it times the remaining balance, which, no matter if the auto rebuy is on or off, will not be exact same again. It's quite a misleading calculation. Still really good returns (My math shows more around 12.7% with no auto rebuy), but the math used to get to the 25% is pretty misleading. you mean 25% is not accurate? Can you provide your math calculations ? WHY 25% is misleading calculation,and 12.7% is correct answer? |
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Well APR is annual percentage rate so since the contract (if run without autobuy) is less than a year they list what it would be if it were to pay for a full year.
The calc isn't wrong, but is a little misleading.
The calc is wrong, if you look at my spreadsheet here... https://docs.google.com/spreadsheets/d/1zbKKyXtW0vcfGDufk_UIRg_gAi0JzjsFwvB7LGj8bOI/edit?usp=sharingyou see that as the contract goes on, your profit on each block found goes down. So your not earning the same tomorrow as you did today, and taking the .8 satoshis per second for a entire year will not give you what you can expect to make. If you have autorebuy on, it will be more than 25%, but that can only last for so long. Either the buyer gets cold feet and turns it off or they run out of contracts offered and it turns off automatically, which will lower your APR once it gets turned off. My point is, its misleading. |
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it's for one year, 0.000000008*60*60*24*365=0.252288 Could you provide your calculations on how the PACMiC V3 can achieve a 25% APR? Does that assume the auto rebuy feature is turned on all year long or some portion of the year?
But, your not earning .000000008 btc per second all year long, in fact, with the new cost being .666 btc, you don't even earn .8 satoshis per second on the first block found. Also, it is impossible to earn .8 satoshis for an entire year (given no difficulty or price changes) because your taking it times the remaining balance, which, no matter if the auto rebuy is on or off, will not be exact same again. It's quite a misleading calculation. Still really good returns (My math shows more around 12.7% with no auto rebuy), but the math used to get to the 25% is pretty misleading. |
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