NEW: Hashnest PACMiC V3 - 0.666 BTC/THS

[Xian01]

Update: Seems whatever kinks were experienced have been resolved over the last 24 hours. Turned back on Auto buy, and nice to see 20TH steadily increasing - now at 20.5TH after a few days.

So far, so good with PACMiC V3.

[NorrisK]

I'm a bit confused about the ROI on these contracts..

Is it correct that the only profit you are to make is the 0.8 satoshi per second times the outstanding payment (basically means the 0.8 satoshi per second becomes lower and lower with more of the contract paid?)

[Propagandalf]

I'm a bit confused about the ROI on these contracts..

Is it correct that the only profit you are to make is the 0.8 satoshi per second times the outstanding payment (basically means the 0.8 satoshi per second becomes lower and lower with more of the contract paid?)

I think you are right, but someone else should confirm. Will this also mean that we get a higher profit rate if we constantly reinvest, as the contract never gets paid off (payment goes towards reinvestment)? Or does it not work like that?

[philipma1957]

I'm a bit confused about the ROI on these contracts..

Is it correct that the only profit you are to make is the 0.8 satoshi per second times the outstanding payment (basically means the 0.8 satoshi per second becomes lower and lower with more of the contract paid?)

I think you are right, but someone else should confirm. Will this also mean that we get a higher profit rate if we constantly reinvest, as the contract never gets paid off (payment goes towards reinvestment)? Or does it not work like that?

I don't think the 25% max can happen but that it can be approached by your method of reinvesting..

I think 12% is the lowest and 25% is highest.   12% would be if you don't invest back 25% if you do invest back.

this disregards other stuff such as bad luck.  I think bad luck early in the contract and good luck late in the contract helps us.

[gl_daisy]

Wow, 25% is a amazing return rate.

[DebitMe]

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%.

[Min€r]

Did they remove the android app? There is only iOS on this page...

https://www.hashnest.com/app

[Propagandalf]

I'm a bit confused about the ROI on these contracts..

Is it correct that the only profit you are to make is the 0.8 satoshi per second times the outstanding payment (basically means the 0.8 satoshi per second becomes lower and lower with more of the contract paid?)

I think you are right, but someone else should confirm. Will this also mean that we get a higher profit rate if we constantly reinvest, as the contract never gets paid off (payment goes towards reinvestment)? Or does it not work like that?

I don't think the 25% max can happen but that it can be approached by your method of reinvesting..

I think 12% is the lowest and 25% is highest.   12% would be if you don't invest back 25% if you do invest back.

this disregards other stuff such as bad luck.  I think bad luck early in the contract and good luck late in the contract helps us.

OK, so now I have bought 1 TH/s of PACMiC v3 with auto-rebuy on (yesterday). So far my profit has automatically bought more hashing power, as I expected it would. When I check the stats, it says that I have "0.0 BTC paid back", and my principal has increased. As the contract terms state, we make more profit the less we have been paid back on our principal payment. Does this mean that so long as I keep auto-rebuy on I will get the maximum performance of my hashing power, and that the contract will never expire? If so, then it must be most profitable to just leave the pacmic constantly on auto-rebuy?

If my line-of-thought is correct, then this appears to be a safe and prosperous move. The only way it can fail is if we let the contract run for so long that mining stops being profitable and we never get our principal back after turning off auto-rebuy. On the other hand, maybe "0.0 BTC" does not show enough decimals to reflect my 5-digit satoshi profit yet, and thus the initial principal might be paid back slow and steady without me noticing... It is already sounding too good to be true, which probably means I have got something wrong. However, if I am half-right, the auto-rebuy will probably stop working after all the PACMiCs have been purchased, and so the offer is most lucrative for the early investors... It says there are in total 30,000 contract units.

[DebitMe]

The way you are describing it is correct.  Your profit is being added onto what is owed back to you and your payouts are being used to purchase more hashing power.  Once the auto rebuy is turned off or they run out of PACMiC  contracts, then you will start to get paid back.

The auto rebuy will be turned off if you turn it off or if they run out of contracts.

The contract will end when you are paid back or if it costs more in electricity to run the units than they make.  You can go to
https://bitcoinwisdom.com/bitcoin/calculator
to calculate when that might be.  I usually put in 5% increase to be conservative, electricity price of .098, pool fee of 0, 1000 GH/s, hardware price of 0, and power of 590.

As of right now, with those inputs, a S5 will become unprofitable in about 138 days.  If you change the power usage to 0, it shows that .666 bitcoin will be paid back in about 80 days.  That leaves almost 60 days for autorebuy to be left on (which will of course change some factors as your speed will be higher but so will the amount owed).

You can at least play with the above numbers some and get an idea of how long it would take to pay you back with various scenarios and when you could lose your investment if bitcoin price dropped or difficulty shot up.

[Propagandalf]

The way you are describing it is correct.  Your profit is being added onto what is owed back to you and your payouts are being used to purchase more hashing power.  Once the auto rebuy is turned off or they run out of PACMiC  contracts, then you will start to get paid back.

The auto rebuy will be turned off if you turn it off or if they run out of contracts.

The contract will end when you are paid back or if it costs more in electricity to run the units than they make.  You can go to
https://bitcoinwisdom.com/bitcoin/calculator
to calculate when that might be.  I usually put in 5% increase to be conservative, electricity price of .098, pool fee of 0, 1000 GH/s, hardware price of 0, and power of 590.

As of right now, with those inputs, a S5 will become unprofitable in about 138 days.  If you change the power usage to 0, it shows that .666 bitcoin will be paid back in about 80 days.  That leaves almost 60 days for autorebuy to be left on (which will of course change some factors as your speed will be higher but so will the amount owed).

You can at least play with the above numbers some and get an idea of how long it would take to pay you back with various scenarios and when you could lose your investment if bitcoin price dropped or difficulty shot up.

Thank you for this reply! Your advice is sound

[GayEddie]

Hello all

Just have a newbie question I just saw these contracts and would like to buy a few maybe get rid of miners in garage which wife moans constantly about but wondering should I wait till btc makes a bit of a rebound before I invest, just worried the downward spiral btc has done the past week would the contracts stop mining soon?

Many thanks for any replies

[DebitMe]

Hello all

Just have a newbie question I just saw these contracts and would like to buy a few maybe get rid of miners in garage which wife moans constantly about but wondering should I wait till btc makes a bit of a rebound before I invest, just worried the downward spiral btc has done the past week would the contracts stop mining soon?

Many thanks for any replies

Look 2 posts up, go to the calculator, and type in different numbers based off of different scenarios.  It will tell you exactly when the contract will end based on whatever inputs you give it.

[Propagandalf]

Hello all

Just have a newbie question I just saw these contracts and would like to buy a few maybe get rid of miners in garage which wife moans constantly about but wondering should I wait till btc makes a bit of a rebound before I invest, just worried the downward spiral btc has done the past week would the contracts stop mining soon?

Many thanks for any replies

Well, if the mining stops it is only temporary until conditions improve. So, if you believe Bitcoin is king and can endure minor setbacks like we have seen this week, you could buy a 1 TH contract to see how it works, and if you like it, you could invest more. That is my advice anyway!

[DebitMe]

Hello all

Just have a newbie question I just saw these contracts and would like to buy a few maybe get rid of miners in garage which wife moans constantly about but wondering should I wait till btc makes a bit of a rebound before I invest, just worried the downward spiral btc has done the past week would the contracts stop mining soon?

Many thanks for any replies

Well, if the mining stops it is only temporary until conditions improve. So, if you believe Bitcoin is king and can endure minor setbacks like we have seen this week, you could buy a 1 TH contract to see how it works, and if you like it, you could invest more. That is my advice anyway!

It is most certainly not temporary.
Contract Suspension

If after 120 days, a PACMiC has still not recovered the initial capital for its user, and is not mining enough revenue to pay for its own electricity cost (fixed at 0.098 USD per kWh, calculated using an ideal AntMiner S5 hashing at 100% uptime per PPS payout), whether because of difficulty increase or BTC price decrease, the PACMiC will continue paying out for ten days as though it were running, even if the machine is turned off. If these conditions persist for ten continuous days, the contract will be considered temporarily suspended. During the suspension period, mining revenues and profit payments will also be temporarily stopped. If after the suspension period, difficulty has dropped or bitcoin price has risen, making mining possible again, the contract will be reinstated and pick up where it left off.

The above is from their ToS and it clearly states that you can lose whatever remaining balance is left to be paid back if conditions are bad.

[philipma1957]

Hello all

Just have a newbie question I just saw these contracts and would like to buy a few maybe get rid of miners in garage which wife moans constantly about but wondering should I wait till btc makes a bit of a rebound before I invest, just worried the downward spiral btc has done the past week would the contracts stop mining soon?

Many thanks for any replies

Well, if the mining stops it is only temporary until conditions improve. So, if you believe Bitcoin is king and can endure minor setbacks like we have seen this week, you could buy a 1 TH contract to see how it works, and if you like it, you could invest more. That is my advice anyway!

It is most certainly not temporary.
Contract Suspension

If after 120 days, a PACMiC has still not recovered the initial capital for its user, and is not mining enough revenue to pay for its own electricity cost (fixed at 0.098 USD per kWh, calculated using an ideal AntMiner S5 hashing at 100% uptime per PPS payout), whether because of difficulty increase or BTC price decrease, the PACMiC will continue paying out for ten days as though it were running, even if the machine is turned off. If these conditions persist for ten continuous days, the contract will be considered temporarily suspended. During the suspension period, mining revenues and profit payments will also be temporarily stopped. If after the suspension period, difficulty has dropped or bitcoin price has risen, making mining possible again, the contract will be reinstated and pick up where it left off.

The above is from their ToS and it clearly states that you can lose whatever remaining balance is left to be paid back if conditions are bad.

yes losing money is certainly possible with this investment.

[Propagandalf]

Hello all

Just have a newbie question I just saw these contracts and would like to buy a few maybe get rid of miners in garage which wife moans constantly about but wondering should I wait till btc makes a bit of a rebound before I invest, just worried the downward spiral btc has done the past week would the contracts stop mining soon?

Many thanks for any replies

Well, if the mining stops it is only temporary until conditions improve. So, if you believe Bitcoin is king and can endure minor setbacks like we have seen this week, you could buy a 1 TH contract to see how it works, and if you like it, you could invest more. That is my advice anyway!

It is most certainly not temporary.
Contract Suspension

If after 120 days, a PACMiC has still not recovered the initial capital for its user, and is not mining enough revenue to pay for its own electricity cost (fixed at 0.098 USD per kWh, calculated using an ideal AntMiner S5 hashing at 100% uptime per PPS payout), whether because of difficulty increase or BTC price decrease, the PACMiC will continue paying out for ten days as though it were running, even if the machine is turned off. If these conditions persist for ten continuous days, the contract will be considered temporarily suspended. During the suspension period, mining revenues and profit payments will also be temporarily stopped. If after the suspension period, difficulty has dropped or bitcoin price has risen, making mining possible again, the contract will be reinstated and pick up where it left off.

The above is from their ToS and it clearly states that you can lose whatever remaining balance is left to be paid back if conditions are bad.

yes losing money is certainly possible with this investment.

The risk statement is all there in the ToS, stating that the contract may be suspended after a duration of bad conditions, but it also says that it can resume if conditions allow it. So all I'm saying is that it can technically lay dormant for say a year, and then suddenly resume if BTC value increases enough to make mining profitable again... So unless mining becomes permanently unprofitable (which can also happen of course), you technically don't lose your funds (the BTC that you are still owed from the contract), but they are instead "frozen" indefinitely... It's kind of a gamble though, and hence it is probably safer to play around with the calculator like DebitMe said, and work out a "safe" contract fulfilment date.

[fbarcelo]

I have a support ticket open on waiting status since 19/8 with a very basic answer but nobody answer it, that's not provide a competent image of the company

will try here to see if get some answer


This is my ticket

1   Pacmic V2 autobuy On   2015-08-19 12:38:30   waitting

Hi, I have one pacmic V2 and one pacmic V3 contracts, both with autobuy feature turned on.
But Pacmic V2 hashpower is not available anymore, so, what is my V2 contract "mining"?
1) More V2 power that is not available to buy but to be "mined"?
2) More v3 power?
3) I'm loosing that?

Thanks in advance

[DebitMe]

I have a support ticket open on waiting status since 19/8 with a very basic answer but nobody answer it, that's not provide a competent image of the company

will try here to see if get some answer


This is my ticket

1   Pacmic V2 autobuy On   2015-08-19 12:38:30   waitting

Hi, I have one pacmic V2 and one pacmic V3 contracts, both with autobuy feature turned on.
But Pacmic V2 hashpower is not available anymore, so, what is my V2 contract "mining"?
1) More V2 power that is not available to buy but to be "mined"?
2) More v3 power?
3) I'm loosing that?

Thanks in advance

your auto rebuy is turned off (even though it still says "on") and the money that would be going towards buying more hashpower is now going into your wallet.  You should start to see that the contracts, "Paid Back" amount is increasing, as is the coins in your wallet.

[fbarcelo]

your auto rebuy is turned off (even though it still says "on") and the money that would be going towards buying more hashpower is now going into your wallet.  You should start to see that the contracts, "Paid Back" amount is increasing, as is the coins in your wallet.

Ticket still waiting for an answer, but BTC community is always here to help, thanks for that and I could confirm your information.

May be you could confirm another point that is not clear

When I'm selling hashpower on the market (Not pacmic contracts)
the FAQ saids
"Your order will be placed on the trading market, and waiting for a match. The order will complete when a ordering price matches your selling price, and the Bitcoin will be transferred to the seller, at the same time, the buyer will get the hash rate. The ownership and earnings of this hash rate will then belong to buyer."

But what happens with that power meanwhile?
It will continue mining for me until sold or was paused?

It seems that it continues mining, but could be useful to explicitly said that on the corresponding FAQ question.

[DebitMe]

your auto rebuy is turned off (even though it still says "on") and the money that would be going towards buying more hashpower is now going into your wallet.  You should start to see that the contracts, "Paid Back" amount is increasing, as is the coins in your wallet.

Ticket still waiting for an answer, but BTC community is always here to help, thanks for that and I could confirm your information.

May be you could confirm another point that is not clear

When I'm selling hashpower on the market (Not pacmic contracts)
the FAQ saids
"Your order will be placed on the trading market, and waiting for a match. The order will complete when a ordering price matches your selling price, and the Bitcoin will be transferred to the seller, at the same time, the buyer will get the hash rate. The ownership and earnings of this hash rate will then belong to buyer."

But what happens with that power meanwhile?
It will continue mining for me until sold or was paused?

It seems that it continues mining, but could be useful to explicitly said that on the corresponding FAQ question.

Yes, when you are selling hashpower and the hash is in a sell order on the market it is still considered yours until sold and you will receive and payouts/maintenance fees.