HASHNEST Discussion and Support Thread

[pumawolf]

dude u guys turned off the 2fa  , i had to verify it  again.  u gotta let  people know  whats going on  when it comes to security issues.

[1714644497]

1714644497

[1714644497]

1714644497

[msarro]

Update - the reset pin now seems to work.

The google auth QR code is still invalid though. However it doesn't appear that google auth is active anymore. I was able to withdraw without it.

[zukko]

The new market is terrible
Old one with two columns was better and more informative.

And in english version, in the Buy tab, on the button there is label - Place BUY order.
In the Sell tab there is the same label - Place BUY order, but is must be - Place SELL order.

[chmick]

Anyone have any clue what this PACMIC v1 is? Its not very specific but almost half sold out. Dont want to miss on an opportunity but dont want to buy completely blind either 

i found this : https://forum.gethashing.com/t/hashnest-pacmic-faq/1743

and this https://forum.bitmain.com/bbs/topics/1392

[tittiecoiner]

Sounds like a ponzi...

[hashnest.com]

Anyone have any clue what this PACMIC v1 is? Its not very specific but almost half sold out. Dont want to miss on an opportunity but dont want to buy completely blind either 

Hi ajw7989,

Please read the terms of PACMiC here https://www.hashnest.com/contracts/new

[hashnest.com]

Sounds like it is supposed to be a stable contract but what I think what people are missing is : " When the principal is
paid back, the mining rigs will belong to BITMAIN." So you're not buying shares like in a real miner like the others, there is no getting a rig is this all goes south.

Hi kingcolex,

There are no electricity fee and maintenance fee on users. Profit increases per second, hashing power is backed by Antminers.

It is a good to do the long-term investment, annualized ROI is more than 20%.

But if you really like to own a physical antminer, welcome to contact us too 

[HorseRider]

Sounds like it is supposed to be a stable contract but what I think what people are missing is : " When the principal is
paid back, the mining rigs will belong to BITMAIN." So you're not buying shares like in a real miner like the others, there is no getting a rig is this all goes south.

Hi kingcolex,

There are no electricity fee and maintenance fee on users. Profit increases per second, hashing power is backed by Antminers.

It is a good to do the long-term investment, annualized ROI is more than 20%.

But if you really like to own a physical antminer, welcome to contact us too  

How is bitmain making their money over regular cloud mining? Once this is answered it should calm worries of a ponzi.

At the end day of the PACMiC, Bitmain will take away the miners and mined till the end. Bitmain only share the mining profit with the PACMiC buyers in the beginning months. After the buyer get their investment paid back, Bitmain owns nothing against the buyers. I think that is how they earn the money.

[hashnest.com]

The Terms of Service of PACMiC.
http://forum.bitmain.com/bbs/topics/1411

[hashnest.com]

Sounds like it is supposed to be a stable contract but what I think what people are missing is : " When the principal is
paid back, the mining rigs will belong to BITMAIN." So you're not buying shares like in a real miner like the others, there is no getting a rig is this all goes south.

Hi kingcolex,

There are no electricity fee and maintenance fee on users. Profit increases per second, hashing power is backed by Antminers.

It is a good to do the long-term investment, annualized ROI is more than 20%.

But if you really like to own a physical antminer, welcome to contact us too  

How is bitmain making their money over regular cloud mining? Once this is answered it should calm worries of a ponzi.

At the end day of the PACMiC, Bitmain will take away the miners and mined till the end. Bitmain only share the mining profit with the PACMiC buyers in the beginning months. After the buyer get their investment paid back, Bitmain owns nothing against the buyers. I think that is how they earn the money.

So if I understand you pay 1 BTC for 1TH of hashing power (almost 1 S5) it mines with no power or maintenance taken out, once it earns 1btc +.7 statoshi a second you get paid and Bitmain keeps hashing on. So if the S5 becomes unprofitable it will turn off but keep paying out like it was still mining for 10 more days and that's that?

Hi kingcolex,
If a PACMiC 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.

[BITMAIN]

So if I understand you pay 1 BTC for 1TH of hashing power (almost 1 S5) it mines with no power or maintenance taken out,

Yes.

once it earns 1btc +.7 statoshi a second you get paid and Bitmain keeps hashing on.

Almost right.

The 0.7stoshi/seconds/BTC is based on the unpaid principle, which is declining during the whole process of the lifecycle of the contract.

So if the S5 becomes unprofitable it will turn off but keep paying out like it was still mining for 10 more days and that's that?

Right, but only the red part. You are mentioning the clause to address the risks.

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.

You can see that IF the situation changes and the S5 is profitable to run again, the PACMiC will pick up. So there is alway risk as well as the hope.

[DebitMe]

If I buy a contract for 1 Btc, does the payout each day go into my hashnest account, and is that separate than my Antpool wallet?  I ask because I am doing something with my Antpool account and don't want to mess up the payouts with another 1 TH/s added to my antpool earnings.  If it does go to antpool I will just create another account and do it there.

Thanks (hope that wasn't too confusing)

[DARKANGEL6415]

weird thing :

my withdraw is done and arrived to my wallet for half an hour by now.

But on hashnest history transaction it still tagged as unconfirmed  :-! .

the transaction engine is gone south or what ?
 

seems like there has been alot of problems going on from the transaction to the deposits delayed or being there but not in transaction history hope its fixed soon

[DARKANGEL6415]

weird thing :

my withdraw is done and arrived to my wallet for half an hour by now.

But on hashnest history transaction it still tagged as unconfirmed  :-! .

the transaction engine is gone south or what ?
 

There is something wrong. Transactions on market are hanging too..

where is theyr office in china ?? what time is it there ?

Can we chat with them live ?

i think they had said before they are in china, not sure about the chat function i have never seen one, then again i might have missed it if there is one. I see bitmain janet post on here sometimes

[ajw7989]

The new concept seems interesting but lately the site has been down a lot :/

[DiCE1904]

So whats the better deal? The contract for 1btc or 1btc worth of s5 ?

[pumawolf]

when do the pacmac  contracts start. 

[PeaMine]

Are there any programs for trading on Hashnest via the API?
I miss the full market depth view.
Also if say you have 2TH of S4, can you still pay to have it shipped home? Or what are the stipulations on that currently?

[msarro]

Still offline for me - is it the same for everyone else?

[ajw7989]

Still offline for me - is it the same for everyone else?

Still offline for me as well. Was not able to login at all today and view hashrates or trading histories.

EDIT: Works for me now but on and off