HASHNEST Discussion and Support Thread

[ajw7989]

I like how that PACMIC v1 keeps increasing and is now at 2000T. I think they have a lot but learned from the UMISSO mistake and having a huge supply out at once.

[1714650533]

1714650533

[chunkyjunkie]

I like how that PACMIC v1 keeps increasing and is now at 2000T. I think they have a lot but learned from the UMISSO mistake and having a huge supply out at once.

That would be my guess also.

I remember when CEX.io came out with future mining contracts.  They had so much capacity and they listed everything they had available to sell at once.

It created the mother of all sell walls and nobody bought because they knew they could buy any time and there would be more then enough.  It ultimately kept the price down.

I think you are exactly right Hashnest probably has 10 - 100 times more to sell if they needed to bring it online in a short period of time but showing that much would discourage buying.

[chunkyjunkie]

4 more missing blocks for PACMIC

346586   346595  346615  346619


I will keep an eye on it and see if the blocks get paid and stop posting missing blocks as I assume you are aware there is a problem.

If I have more missing paid blocks I will just wait before reporting them to see if they are getting paid without forum posts and support tickets.

Either way there is a problem of some kind not paying all the found blocks in order.


Edit - As of 11:04 EST the 4 missing blocks 346586   346595  346615  346619 have been paid for PACMIC on my account.

[dicefun]

Perhaps I haven't read the right thread, but....is there anyone commenting about their actual experience having bought cloud mining from Hashnest and how it worked for them including profit? Anyone made any money with them?

1.5 month ago I made deposit of 0.01BTC
today I have 0.16BTC on balance
I don't know how much I mined, I just like to buy and sell ghs

if you don't want to trade, just want to invest and receive dividends I'd advise you to buy anst4 because ants5 are overpriced yet   

[cloh76]

So just to confirm.  Is it better to buy PACMIC vs an S5?

Im still having a hard time understanding the benefit of PACMIC.  My understanding is that I will get paid daily the earnings of found blocks until the 1 BTC investment I made is paid back in full and as long as the cost to mine is less then the earnings, Ill continue to earn after the 1BTC is paid back?  The amount I will get is a % of the earnings based on the number of PACMICs I buy? 

Is that correct?

It's pretty much a lifetime contract?

[cloh76]

Perhaps I haven't read the right thread, but....is there anyone commenting about their actual experience having bought cloud mining from Hashnest and how it worked for them including profit? Anyone made any money with them?

1.5 month ago I made deposit of 0.01BTC
today I have 0.16BTC on balance
I don't know how much I mined, I just like to buy and sell ghs

if you don't want to trade, just want to invest and receive dividends I'd advise you to buy anst4 because ants5 are overpriced yet   

If I buy 1155 Gh from the market (lets say from the S4 market,) can i at a later time convert that to an S5 if I decide I want to stop cloud mining and instead want the hardware shipped to me?

[TriplD]

Still looking for profit stories. Seems simple if there is truly profit available. Hashnest's cloud mining has a low barrier of entry at about $400 to get started and if one had some cash, why not purchase 10 of them...or 100 of them? $40K put into this with a return greater than 10% is worth it and then there's the excitement of BTC prices going up.

Where are you...profit people? 

[ajw7989]

The panic v1 contracts promise over 20% profit but keep in mind that is for stable difficulty. If difficulty increases dramatically.you might just make a few percent over ROI. For me I'm not a fan of having my coin tied up for 120+ days.

[BITMAIN_Janet]

Hi cloh76,
 

My understanding is that I will get paid daily the earnings of found blocks until the 1 BTC investment I made is paid back in full

Correct. Mining revenue will be prior to pay for the profit, the remaining of mining revenue will be paid for your 1BTC investment.
Profit is calculated by the formula: unpaid principal (BTC) * 0.7 (satoshis per BTC per second) * time to find a block (seconds).

as long as the cost to mine is less then the earnings, Ill continue to earn after the 1BTC is paid back?

When your 1BTC investment is paid back in full, the PACMiC will end.

[BITMAIN_Janet]

Perhaps I haven't read the right thread, but....is there anyone commenting about their actual experience having bought cloud mining from Hashnest and how it worked for them including profit? Anyone made any money with them?

Hi TriplD,

Here is the comparation of Physical Mining, Traditional Cloud Mining, and PACMiC Mining, FYI


S5 cloud mining contract, mining revenue will be paid for the electricity fee, the remaining of mining revenue will be paid to your hashnest's account.

PACMiC, mining revenue will be prior to pay for the profit, the remaining of mining revenue will be paid for your 1BTC investment.
Profit is calculated by the formula: unpaid principal (BTC) * 0.7 (satoshis per BTC per second) * time to find a block (seconds).

PM me if you have any problems  

[chunkyjunkie]

Does the PACMIC pay faster as time goes on?  Less?  or the same?

Because it is multiplied by your remaining principal?

Thank you in advance.

Edit - I imagine profit slows as the PACMIC contract goes on  because if the right side of the equation ( * 0.7 (satoshis per BTC per second) * time to find a block (seconds).  ) always stays the same and the left side ( what it gets multiplied by goes down ie 1 btc to start then .75 then .5 etc....

From what I gather profit slows down as the contract goes on.

However, what about the speed of repayment on the principal?   Does that slow down like profit? stay the same? or speed up?

[BITMAIN_Janet]

Does the PACMIC pay faster as time goes on?  Less?  or the same?

Because it is multiplied by your remaining principal?

Thank you in advance.

Edit - I imagine profit slows as the PACMIC contract goes on  because if the right side of the equation ( * 0.7 (satoshis per BTC per second) * time to find a block (seconds).  ) always stays the same and the left side ( what it gets multiplied by goes down ie 1 btc to start then .75 then .5 etc....

From what I gather profit slows down as the contract goes on.

However, what about the speed of repayment on the principal?   Does that slow down like profit? stay the same? or speed up?

Hi chunkyjunkie,

Under the same diff, in case of 1 BTC investment, PPS payout, mining revenue is 0.01077264BTC in day one, the profit is 1BTC* (0.7*10^-8)*(1*24*3600) =0.0006048BTC, then unpaid principal after the payout distribution on day one is 1BTC-(0.01077264BTC - 0.0006048BTC)=0.98983216BTC.

Day two (2), the mining revenue is still 0.01077264BTC, the profit is 0.98983216BTC*(0.7*10^-8)*(1*24*3600)=0.00059865BTC, then unpaid principal after the payout distribution on day two is 0.98983216BTC- (0.01077264BTC - 0.00059865BTC)=0.97965817BTC

...

I think the speed of repayment is up, the profit is less under the same mining revenue condition as the contract goes on.


Feel free to drop a question if there is any concern.

[chunkyjunkie]

Does the PACMIC pay faster as time goes on?  Less?  or the same?

Because it is multiplied by your remaining principal?

Thank you in advance.

Edit - I imagine profit slows as the PACMIC contract goes on  because if the right side of the equation ( * 0.7 (satoshis per BTC per second) * time to find a block (seconds).  ) always stays the same and the left side ( what it gets multiplied by goes down ie 1 btc to start then .75 then .5 etc....

From what I gather profit slows down as the contract goes on.

However, what about the speed of repayment on the principal?   Does that slow down like profit? stay the same? or speed up?

Hi chunkyjunkie,

Under the same diff, in case of 1 BTC investment, PPS payout, mining revenue is 0.01077264BTC in day one, the profit is 1BTC* (0.7*10^-8)*(1*24*3600) =0.0006048BTC, then unpaid principal after the payout distribution on day one is 1BTC-(0.01077264BTC - 0.0006048BTC)=0.98983216BTC.

Day two (2), the mining revenue is still 0.01077264BTC, the profit is 0.98983216BTC*(0.7*10^-8)*(1*24*3600)=0.00059865BTC, then unpaid principal after the payout distribution on day two is 0.98983216BTC- (0.01077264BTC - 0.00059865BTC)=0.97965817BTC

...

I think the speed of repayment is up, the profit is less under the same mining revenue condition as the contract goes on.


Feel free to drop a question if there is any concern.

Thank you very much!

[ajw7989]

Does the PACMIC pay faster as time goes on?  Less?  or the same?

Because it is multiplied by your remaining principal?

Thank you in advance.

Edit - I imagine profit slows as the PACMIC contract goes on  because if the right side of the equation ( * 0.7 (satoshis per BTC per second) * time to find a block (seconds).  ) always stays the same and the left side ( what it gets multiplied by goes down ie 1 btc to start then .75 then .5 etc....

From what I gather profit slows down as the contract goes on.

However, what about the speed of repayment on the principal?   Does that slow down like profit? stay the same? or speed up?

Hi chunkyjunkie,

Under the same diff, in case of 1 BTC investment, PPS payout, mining revenue is 0.01077264BTC in day one, the profit is 1BTC* (0.7*10^-8)*(1*24*3600) =0.0006048BTC, then unpaid principal after the payout distribution on day one is 1BTC-(0.01077264BTC - 0.0006048BTC)=0.98983216BTC.

Day two (2), the mining revenue is still 0.01077264BTC, the profit is 0.98983216BTC*(0.7*10^-8)*(1*24*3600)=0.00059865BTC, then unpaid principal after the payout distribution on day two is 0.98983216BTC- (0.01077264BTC - 0.00059865BTC)=0.97965817BTC

...

I think the speed of repayment is up, the profit is less under the same mining revenue condition as the contract goes on.


Feel free to drop a question if there is any concern.

Makes a lot of sense so in others words for people still confused the very small amount (0.0006048) is the profit and does not count towards the 1 BTC payback. The bigger amount is what counts towards the 1 BTC when once hit the contract self-terminates

[Tupsu]

Do hashnest reliable ? No.


Hashnest  Never paid me for

AntminerS5 Block: #344417

AntminerS5 Block: #344420

Opened ticket 2015-02-23 10:57:57   ID:#1130







Yesterday I downloaded Exel table . Download Report   Currency BTC, Type - Mining.

No Block: #344417 and #344420.

[chunkyjunkie]

Were you buying and selling hash during the time?

Remember you could own the ghs at the time the block is found but if you sold it before it was credited at one point you would not have been paid.

Not sure how they calculate payments now if it is the owner of the hash at the time the block is found or the owner of the hash when confirmations have gone through.

[BITMAIN_Rob]

Do hashnest reliable ? No.


Hashnest  Never paid me for

AntminerS5 Block: #344417

AntminerS5 Block: #344420

Opened ticket 2015-02-23 10:57:57   ID:#1130







Yesterday I downloaded Exel table . Download Report   Currency BTC, Type - Mining.

No Block: #344417 and #344420.

i will check it

[BITMAIN_Rob]

Do hashnest reliable ? No.


Hashnest  Never paid me for

AntminerS5 Block: #344417

AntminerS5 Block: #344420

Opened ticket 2015-02-23 10:57:57   ID:#1130







Yesterday I downloaded Exel table . Download Report   Currency BTC, Type - Mining.

No Block: #344417 and #344420.

EDIT

hi please check your  transactions on 2015-02-22 about 12:31

 you sell your last 505 ghs antS5 hashpower on 2015-02-22 11:54
the block 344417 344420 was payout about 2015-02-22 12:30, at this timestamp you don;t have any antS5!

[BITMAIN_Janet]

Were you buying and selling hash during the time?

Remember you could own the ghs at the time the block is found but if you sold it before it was credited at one point you would not have been paid.

Not sure how they calculate payments now if it is the owner of the hash at the time the block is found or the owner of the hash when confirmations have gone through.

Hi

If you sell the hashrate before the mining revenue is distributed, then payout will be owned by the new owner.

[chunkyjunkie]

PACMIC missing some block payments again...

I wasn't going to post as they have been eventually been being paid, however, these are taking a while and still not paid.

Blocks for PACMIC not paid for my contract yet

346734
346741
346753
346756
346761
346786
346789


After last night's update it looks like new blocks are being paid right so far but still missing these older blocks.

I will update when these non paid older blocks have been paid.