NEW: Hashnest PACMiC V3 - 0.666 BTC/THS

[psy112]

Looks like Bitmain doesn't think they need as much money as they did during the v3 timeframe, given the MUCH lower rate of return and the much higher cost of entry.

 I am seriously UNIMPRESSED with the v4 contract, and will be looking to invest my profits from my v3 contracts elsewere.

Me too, I invested 2TH on v3 in the end, was hoping on catching the v4 when it came, but now when I see it, no thank you!

[DebitMe]

First impressions suggest this contract is not as good as V3, and is more in line with V2.  Will have to run the numbers through a spreadsheet once I get into work to find what the APR would be.  They are claiming 14.1912% annual ROI for V4, they claimed over 25% for V3.

The V3 is looking closer to a little over half of that, so I would estimate V4 to be around 8% annual ROI maybe, just based off of a rough guess.

Either way, it doesn't matter as the S5 is at 60% maintenance, which worries me, with the current difficulty jumps we have been having, about how long it will continue to remain profitable.

Let me run some numbers and I will post here a little later.

[DebitMe]

It doesn't look like they have posted a new thread yet, so my analysis will go here for now...

I always start by looking at how long the contract will take to pay off at a 5% diff increase.  At current price level and 5% increase, 1 TH/s will pay back 1 btc in about 170 days.  Much higher than where we used to be for V3 and V2.

Then, I look at how much longer the underlying machine backing the asset will be profitable for at the same 5% diff increase.  At the same conditions, the S5 will no longer be profitable to run after about 120 days.

So right off the bat, this contract will take longer to pay back the initial investment than the unit will be profitable for.  Of course, 5% difficulty is on the higher side of things lately, but I actually think it will be under a few changes we are about to see in October and November due to releasing of the S7 by Bitmain and whatever Spondoolies has up their sleeves with their new monster hasher.  Either way, its not giving me a great vote of confidence right off the bat for the V4.

And finally, based on my spreadsheet here...
https://docs.google.com/spreadsheets/d/1zbKKyXtW0vcfGDufk_UIRg_gAi0JzjsFwvB7LGj8bOI/edit?usp=sharing
The V4 contract has an APR of roughly 7.15%, which is right in line with V2 and about 5% lower than V3.

Conclusion: I have really liked the PACMiC's since they first launched, they have been a great sort of CD that have provided better rates than a normal CD and have allowed me to park my funds in them for some easy profits.  With V4 though, it seems less thought out than the other versions and presents a much higher risk that the underlying hashpower will become unprofitable to run before it has paid back the entire principal amount.  I will not be buying V4 contracts at the current offering they are being presented as.

[philipma1957]

It doesn't look like they have posted a new thread yet, so my analysis will go here for now...

I always start by looking at how long the contract will take to pay off at a 5% diff increase.  At current price level and 5% increase, 1 TH/s will pay back 1 btc in about 170 days.  Much higher than where we used to be for V3 and V2.

Then, I look at how much longer the underlying machine backing the asset will be profitable for at the same 5% diff increase.  At the same conditions, the S5 will no longer be profitable to run after about 120 days.

So right off the bat, this contract will take longer to pay back the initial investment than the unit will be profitable for.  Of course, 5% difficulty is on the higher side of things lately, but I actually think it will be under a few changes we are about to see in October and November due to releasing of the S7 by Bitmain and whatever Spondoolies has up their sleeves with their new monster hasher.  Either way, its not giving me a great vote of confidence right off the bat for the V4.

And finally, based on my spreadsheet here...
https://docs.google.com/spreadsheets/d/1zbKKyXtW0vcfGDufk_UIRg_gAi0JzjsFwvB7LGj8bOI/edit?usp=sharing
The V4 contract has an APR of roughly 7.15%, which is right in line with V2 and about 5% lower than V3.

Conclusion: I have really liked the PACMiC's since they first launched, they have been a great sort of CD that have provided better rates than a normal CD and have allowed me to park my funds in them for some easy profits.  With V4 though, it seems less thought out than the other versions and presents a much higher risk that the underlying hashpower will become unprofitable to run before it has paid back the entire principal amount.  I will not be buying V4 contracts at the current offering they are being presented as.

I have a degree in Accounting from Queens College, NY .  I have worked for the IRS > I have some decent understanding of this investment and it is a dog compared to the v3.


 I do  not think anyone should buy into it. They need to restructure it or it looks like it will  be a fail.

I have 15th in V3 I grew it to 17th   I will not be buying v4 as it is set up.

MY v3 standings are:

PACMiC v3

Total Principal: 10.02438914 BTC Paid back: 5.42019077 Paid back rate: 54.07% Profit: 0.24174031





Note:

don't take my advice as perfect or correct .  It is always subject to market variables in the end  it is up to the investor to decide.

[Propagandalf]

Thank you for your analyses and thoughts! I agree that the v4 does not look as promising as the v3 did...

[DebitMe]

I think investors are showing that they know its too risky and are not buying much of the V4 contracts.  Over a day running and less than 400 TH/s sold. The V3 had petahashes sold in the first 24 hours.  Hopefully Bitmain will get the message and structure this better.  Even basing it off of the S7 will allow me to buy some of them knowing I will be getting a return, although less, I will at least have a chance of getting my funds back before its unprofitable to run.

[IanFoxley]

I think investors are showing that they know its too risky and are not buying much of the V4 contracts.  Over a day running and less than 400 TH/s sold. The V3 had petahashes sold in the first 24 hours.  Hopefully Bitmain will get the message and structure this better.  Even basing it off of the S7 will allow me to buy some of them knowing I will be getting a return, although less, I will at least have a chance of getting my funds back before its unprofitable to run.

Yeh I agree...

[ajw7989]

The only way this made sense for the higher entry level and lower rate of return was if it was based off the S7. Basing this off the S5 makes no sense...

[philipma1957]

The only way this made sense for the higher entry level and lower rate of return was if it was based off the S7. Basing this off the S5 makes no sense...

 I think that the person that wrote this up made an error.
 I think he is out for the holidays.
 I think it will be corrected around OCT 7-9.

If it was based on the s7  it would make some sense as you will be able to go past the 120 day mark and not have the cancel for lack of ability to pay the power bill..  

I will keep an eye on the contract to see if it gets changed

As structured it makes no sense.  So I will just keep checking on it.

[fhh]

v4 got an update (correction) now it is based on the S7

[Xian01]

v4 got an update (correction) now it is based on the S7

Still a bad deal either way.

[DebitMe]

v4 got an update (correction) now it is based on the S7

Still a bad deal either way.

At least its a better deal.  You will make back your investment as opposed to not being able to recover your funds.  Interest sucks compared to V3, but its better than nothing.

[philipma1957]

v4 got an update (correction) now it is based on the S7

Still a bad deal either way.

At least its a better deal.  You will make back your investment as opposed to not being able to recover your funds.  Interest sucks compared to V3, but its better than nothing.

yeah I may buy some not sure but maybe.

[ZenFr]

Pacmic V.4 is sold since 2 weeks and only less than 1500 contracts are sold.

For the 20,000 contracts, more than 6 months will be necessary to be sold....

Bitmain will doing something !

[philipma1957]

Pacmic V.4 is sold since 2 weeks and only less than 1500 contracts are sold.

For the 20,000 contracts, more than 6 months will be necessary to be sold....

Bitmain will doing something !

well they went from s-5 to s-7.

sales went from 300 to 1500

[ZenFr]

well they went from s-5 to s-7.

How do know that ?
Edit : Ok, I saw that in the PACMiC V4 FAQ, thanks :-)
The S7 for the PACMiC is a very good thing : PACMiC benefit will grow up with this S7. Whis the v4, Bitmain is very hard for the buyer.

sales went from 300 to 1500

Yes, very surprising !

[GayEddie]

Hello

     I have bought one PACMIC V4 about 2 weeks ago its not paying as good as V3 but I wasnt expecting it to just happy to make a little bit of profit I hope.


         My question is in your guys opinion is there a cut off point ( date ) where you would not buy a V4 due to diff rise where I may loose btc.

        I hope I explained that clearly

Many thanks for any opinions

[DebitMe]

Hello

     I have bought one PACMIC V4 about 2 weeks ago its not paying as good as V3 but I wasnt expecting it to just happy to make a little bit of profit I hope.


         My question is in your guys opinion is there a cut off point ( date ) where you would not buy a V4 due to diff rise where I may loose btc.

        I hope I explained that clearly

Many thanks for any opinions

Yes there is.  But it will be based off of your own opinion, as no one can predict the difficulty rise or price of bitcoin.

Go to a bitcoin earning calculator and find the time it would take to pay back 1 btc with 1 TH/s of mining power with 0 electricity usage.  Then do the same calculation with the electricity usage of an S7.  When it will take longer to pay back 1 btc then the S7 remains profitable for is when you should not be buying any more V4.

[QuintLeo]

Given that Bitmain was apparently claiming 25% RoI on the v3 contracts, when mine look like they are going to struggle to achieve 12% (a bit under 3% return in just under 90 days payback is looking like where my first one will end up at next month), the CLAIMED RoI on the v4 contracts probably also resulting in less than HALF of Bitmain's claimed RoI makes them a pathetic investment.
 Can't do better on CDs from my credit union right now, but there are a LOT of stocks that consistantly return better than 6% dividends annually (I know a few that usually manage 10% annual dividends on royality trust type companies) and that figure tends to go up as dividends increase on an already-bought stock investment.

 Can also do better on the "interest" phase of the Beleven contracts out of BW.com - that works out to about 12% annual RoI.

[Xian01]

Can't do better on CDs from my credit union right now, but there are a LOT of stocks that consistantly return better than 6% dividends annually (I know a few that usually manage 10% annual dividends on royality trust type companies) and that figure tends to go up as dividends increase on an already-bought stock investment.

I'm having a lot of fun with Schwab Intelligent Portfolios lately. I'm up a bit over 5% in a little under a quarter.