Muhammed Zakir
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October 22, 2014, 06:09:58 AM |
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Even with fees, the price should be comparable.
So, how do they do it ?
If you really want to know, it is better to ask this question to them. It might be a business secret which they might not disclose that easily. ~~MZ~~
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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galdur
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October 22, 2014, 06:11:06 AM |
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I mean, it´s repeated here constantly ad ennui how PBM must be a scam because they can´t make a profit at .0016. How does Hashnest turn a profit at a comparable price given the fees.
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Muhammed Zakir
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October 22, 2014, 06:12:54 AM |
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I mean, it´s repeated here constantly ad ennui how PBM must be a scam because they can´t make a profit at .0016. How does Hashnest turn a profit at a comparable price given the fees.
I don't agree to that statement. I conclude it is a scam as it is neither giving any proof nor we could find any atleast a block which they mined. ~~MZ~~
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galdur
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October 22, 2014, 06:16:10 AM |
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I mean, it´s repeated here constantly ad ennui how PBM must be a scam because they can´t make a profit at .0016. How does Hashnest turn a profit at a comparable price given the fees.
I don't agree to that statement. I conclude it is a scam as it is neither giving any proof nor we could find any atleast a block which they mined. ~~MZ~~ So why do you suppose none of their competitors have exposed this scam. I mean it´s a dog eat dog marketplace. Competition is very fierce. They´re just content to let a scam take business from them?
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jimmothy
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October 22, 2014, 06:19:19 AM |
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Hashnest sells GHS at 0.001125 BTC.
If PBM can´t cover the costs at .0016, then how do you guys figure Hashnest does it?
Or are they a scam as well ?
You can verify it's not a scam via the blockchain: https://blockchain.info/tx/ea82419ded154267803bee5649101b50ff92fe2ce162c307ae123e938b797ca2You might have to enable scripts and coinbase to see that they sign each block with "Mined by AntPool". When you include fees (~$0.13/kwh) hashnest is not really such a great deal. If you mined for 3 months the fees alone would be ~$0.3/GH. Hashnest is run by Bitmain who manufactures the hardware and has been mining with it for months. They know $0.13/kwh is no longer competitive which is why they are now selling cloudmining.
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Muhammed Zakir
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October 22, 2014, 06:19:36 AM |
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I mean, it´s repeated here constantly ad ennui how PBM must be a scam because they can´t make a profit at .0016. How does Hashnest turn a profit at a comparable price given the fees.
I don't agree to that statement. I conclude it is a scam as it is neither giving any proof nor we could find any atleast a block which they mined. ~~MZ~~ So why do you suppose none of their competitors have exposed this scam. I mean it´s a dog eat dog marketplace. Competition is very fierce. They´re just content to let a scam take business from them? I don't think there was an incident like that. Even when PBMining came, no business went down. If you know any, please provide proof, something like website link, project name, it would suffice. ~~MZ~~
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galdur
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October 22, 2014, 06:21:10 AM |
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I mean, it´s repeated here constantly ad ennui how PBM must be a scam because they can´t make a profit at .0016. How does Hashnest turn a profit at a comparable price given the fees.
I don't agree to that statement. I conclude it is a scam as it is neither giving any proof nor we could find any atleast a block which they mined. ~~MZ~~ So why do you suppose none of their competitors have exposed this scam. I mean it´s a dog eat dog marketplace. Competition is very fierce. They´re just content to let a scam take business from them? I don't think there was an incident like that. Even when PBMining came, no business went down. If you know any, please provide proof, something like website link, project name would suffice. ~~MZ~~ Thin.
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galdur
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October 22, 2014, 06:22:22 AM |
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Hashnest sells GHS at 0.001125 BTC.
If PBM can´t cover the costs at .0016, then how do you guys figure Hashnest does it?
Or are they a scam as well ?
You can verify it's not a scam via the blockchain: https://blockchain.info/tx/ea82419ded154267803bee5649101b50ff92fe2ce162c307ae123e938b797ca2You might have to enable scripts and coinbase to see that they sign each block with "Mined by AntPool". When you include fees (~$0.13/kwh) hashnest is not really such a great deal. If you mined for 3 months the fees alone would be ~$0.3/GH. Hashnest is run by Bitmain who manufactures the hardware and has been mining with it for months. They know $0.13/kwh is no longer competitive which is why they are now selling cloudmining. Talk to you later jimmothy. Good luck, g
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RD965
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October 22, 2014, 08:14:16 AM |
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Hashnest sells GHS at 0.001125 BTC.
If PBM can´t cover the costs at .0016, then how do you guys figure Hashnest does it?
Or are they a scam as well ?
You can verify it's not a scam via the blockchain: https://blockchain.info/tx/ea82419ded154267803bee5649101b50ff92fe2ce162c307ae123e938b797ca2You might have to enable scripts and coinbase to see that they sign each block with "Mined by AntPool". When you include fees (~$0.13/kwh) hashnest is not really such a great deal. If you mined for 3 months the fees alone would be ~$0.3/GH. Hashnest is run by Bitmain who manufactures the hardware and has been mining with it for months. They know $0.13/kwh is no longer competitive which is why they are now selling cloudmining. Wait are you saying that address its pbminings proof?
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jimmothy
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October 22, 2014, 08:40:56 AM |
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Hashnest sells GHS at 0.001125 BTC.
If PBM can´t cover the costs at .0016, then how do you guys figure Hashnest does it?
Or are they a scam as well ?
You can verify it's not a scam via the blockchain: https://blockchain.info/tx/ea82419ded154267803bee5649101b50ff92fe2ce162c307ae123e938b797ca2You might have to enable scripts and coinbase to see that they sign each block with "Mined by AntPool". When you include fees (~$0.13/kwh) hashnest is not really such a great deal. If you mined for 3 months the fees alone would be ~$0.3/GH. Hashnest is run by Bitmain who manufactures the hardware and has been mining with it for months. They know $0.13/kwh is no longer competitive which is why they are now selling cloudmining. Wait are you saying that address its pbminings proof? No it's Hashnests proof. Hashnets = Bitmain = Antpool.
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RD965
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October 22, 2014, 11:20:50 AM |
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Hashnest sells GHS at 0.001125 BTC.
If PBM can´t cover the costs at .0016, then how do you guys figure Hashnest does it?
Or are they a scam as well ?
You can verify it's not a scam via the blockchain: https://blockchain.info/tx/ea82419ded154267803bee5649101b50ff92fe2ce162c307ae123e938b797ca2You might have to enable scripts and coinbase to see that they sign each block with "Mined by AntPool". When you include fees (~$0.13/kwh) hashnest is not really such a great deal. If you mined for 3 months the fees alone would be ~$0.3/GH. Hashnest is run by Bitmain who manufactures the hardware and has been mining with it for months. They know $0.13/kwh is no longer competitive which is why they are now selling cloudmining. Wait are you saying that address its pbminings proof? No it's Hashnests proof. Hashnets = Bitmain = Antpool. What about hashlets?
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Muhammed Zakir
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October 22, 2014, 11:48:54 AM |
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What about hashlets? I think they are legit! Here are the 2 quotes which will help you decide: ~~MZ~~
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RD965
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October 22, 2014, 01:27:53 PM |
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What about hashlets? I think they are legit! Here are the 2 quotes which will help you decide: ~~MZ~~ At least there is pictures. I have most of the miner units that are shown
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vipgelsi
Legendary
Offline
Activity: 1736
Merit: 1001
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October 22, 2014, 04:09:35 PM |
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Pb why not take a picture it will last longer
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paulsonnumismatics
Sr. Member
Offline
Activity: 265
Merit: 250
Honni Soit Qui Mal i Pense
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October 22, 2014, 09:11:22 PM |
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At least there is pictures. I have most of the miner units that are shown Will you PLEASE refrain for quoting one decimal meter of photos that just were shown in the preceding post only to make a pointless comment of 15 words below? Thanks so much. Back to the topic, after 212 pages of posts.... PB keeps on delivering. FWIW.
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This space is for lease, apparently.
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ShrykeZ
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October 22, 2014, 11:42:15 PM |
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Had no problem with payments, happy with the service so far.
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Biomech
Legendary
Offline
Activity: 1372
Merit: 1022
Anarchy is not chaos.
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October 23, 2014, 04:50:50 AM |
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At least there is pictures. I have most of the miner units that are shown Will you PLEASE refrain for quoting one decimal meter of photos that just were shown in the preceding post only to make a pointless comment of 15 words below? Thanks so much. Back to the topic, after 212 pages of posts.... PB keeps on delivering. FWIW. Glad it wasn't just me. Would've taken about the same amount of time to <snip> the quote as it did to type his comment. And agreed.
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thirdprize
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October 23, 2014, 09:11:54 AM |
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Going on the assumption that with the increases in difficulty, it probably will take 5 years to ROI on any new investments made, can someone explain how re-investing is a good idea? If the payments are getting (relatively) smaller and your investment is getting larger, how will you ever win? Unless you are calculating in £/$ somehow?
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Netwerked
Newbie
Offline
Activity: 55
Merit: 0
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October 23, 2014, 09:52:55 AM |
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Going on the assumption that with the increases in difficulty, it probably will take 5 years to ROI on any new investments made, can someone explain how re-investing is a good idea? If the payments are getting (relatively) smaller and your investment is getting larger, how will you ever win? Unless you are calculating in £/$ somehow?
You can start to get ROI in as little as a few hours if you purchase a contract on a Saturday. Seriously though, the cost of buying one GH gets cheaper over time, because the expected return of 1 GH decreases over time. I don't think both have decreased at the same pace, mainly because the value of a Bitcoin relative to fiat has fallen. Use a spreadsheet and guestimate your payouts. If you don't think you can break even in under a year, then don't bother investing. The expected return after the first year is very small. In a worst case scenario, if you buy a contract and then experience some significant difficulty increases early in the life of a contract, you run the risk of never breaking even. I know that PBmining customers who purchased contracts through April have been breaking even, but who knows what luck someone will have if they make a purchase today. My strategy is to consider making a purchase every three months. The best time to buy is right after a difficulty increase during a period where you think difficulty might not rapidly increase. Again, run the numbers in a spreadsheet using your assumptions before you make a purchase. Is it a good idea to reinvest all of your PBmining payouts into new contracts? If you think every contract will always break even, then yes. If not, then no.
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thirdprize
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October 23, 2014, 10:06:09 AM |
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Seriously though, the cost of buying one GH gets cheaper over time, because the expected return of 1 GH decreases over time. I don't think both have decreased at the same pace, mainly because the value of a Bitcoin relative to fiat has fallen.
Ah, so 60Gh in May cost .288 Btc but now costs .096 Btc. That's a decrease of about two thirds. However, the weekly payment is now about a third of what it was in may. Still sounds like treading water.
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