HASHNEST Discussion and Support Thread

[speedt_ouch]

I am constantly on the look for new cloud mining companies or hardware providers that provide better or near the same returns as Bitmain.  To date I haven't found any with comparable returns that proved they were not a ponzi.  The ones I found with comparable or better value then bitmain always had red flags and not long enough history and ended up being exactly that, scams.

I will list a few I think might be ok ( no guarantee )for you but Bitmain continues to offer better value even out of these below.

Genesis Mining
Mintsy

The other ones you might be hearing about lately where people are vouching for them because they have been paid what they expected for a couple of weeks in my opinion will probably end up falling apart.  Heck even that one what was it LTC gear?  That one was around for a long time and I believe still ended up being a scam.  

Let me just say the 2-10 new cloud mining offerings currently out will be gone to be replaced by another 2-10.   How long each ponzi lasts is the only question.


If I may put it one last way... if another new ( unproven ) company is offering close to bitmain value then it is probably not worth the risk, right?   And if they offering much much better then Hashnest?  They are probably a ponzi until they get the time bitmain has behind it.  

Just my opinion.

Lastly I hope 2-4 new solid real companies emerge, we need healthy competition or the little guy ( the customer ) gets squeezed.   Bitmain gave us customers a little more of the pie back before they realized they really have no real competition sadly.   That being said bitmain is still fair even so.


Edit - Nevermind Mintsy I guess. I thought I saw them selling hashing.  I just checked and don't see it available anymore.

Hi.
I actually have a account with genesis mining for less than a month, that was who I was comparing with

I got the account to test then out.
So I got 150GHz that earned me today: 0.00051342 fee already deducted.

So if I divide my earnings by 150 I get my value per 1Ghz, so 0.00051342 / 150 Ghz = 0.000003423
Now to estimate earnings for 1000GHz I just need to multiply 0.000003423 * 1000 = 0,003423

0,003423 Would be the approximate value today for a 1000GHz account.

I’m looking to compare these values with a AntminerS5 1155.0GHS if someone could share there values for today.

Thanks again.

[chunkyjunkie]

If you can figure out how much each gh should be making with zero electric costs with today's difficulty.  Hashnest is paying about exactly half of that with the antminer s5.  I edited my statement after you quoted it to say what I thought about genesis.

Which ballpark looks to be about what I said slightly less value then hashnest.

But also like I said it is the only other one I even mentioned because they have been around so long with no problems or crazy claims.  They also partnered with a real equipment manufacturer as well.


Hopefully someone can give you the exact numbers you are looking for 150 antminer s5, good luck  Just an FYI an average of a week would probably be best as hashnest has had some very bad luck days in the past.

[speedt_ouch]

If you can figure out how much each gh should be making with zero electric costs with today's difficulty...  

Hi.
The value I presented (0.00051342) is the amount I received in my wallet yesterday for one day of cloud mining with a hash of 150GHz, fees already deducted with genesis mining.

The reason I calculated the value to 1GHz exactly was to make it easier to compare if I had an account of 1000GHz and them compare with the earnings of a AntminerS5 with Hashnest if someone would share there number with me.

I know pool luck plays a huge factor, but its to have an idea to see which could more profitable.

Recap:
0,003423 Would be the approximate value today for a 1000GHz account with genesis

I’m looking to compare this value with a AntminerS5 1155GHS with hashnest.

Thanks again.

[amelen]

If you can figure out how much each gh should be making with zero electric costs with today's difficulty...  

Hi.
The value I presented (0.00051342) is the amount I received in my wallet yesterday for one day of cloud mining with a hash of 150GHz, fees already deducted with genesis mining.

The reason I calculated the value to 1GHz exactly was to make it easier to compare if I had an account of 1000GHz and them compare with the earnings of a AntminerS5 with Hashnest if someone would share there number with me.

I know pool luck plays a huge factor, but its to have an idea to see which could more profitable.

Recap:
0,003423 Would be the approximate value today for a 1000GHz account with genesis

I’m looking to compare this value with a AntminerS5 1155GHS with hashnest.

Thanks again.

I'm not familiar with genesis mining, but that seems a bit low. 0.003423 BTC per 1000GH/s ? What's the initial investment @genesis?

[speedt_ouch]

I'm not familiar with genesis mining, but that seems a bit low. 0.003423 BTC per 1000GH/s ? What's the initial investment @genesis?

According to their site the initial investment would be 419USD for 1000GHz

Do you have an account with hashnest?

[amelen]

I'm not familiar with genesis mining, but that seems a bit low. 0.003423 BTC per 1000GH/s ? What's the initial investment @genesis?

According to their site the initial investment would be 419USD for 1000GHz

Do you have an account with hashnest?

I have an account with hashnest, but haven't bitten the bullet to try them yet. I think I'm going to wait a few more weeks to see if the S7 comes out as planned. I like the concept in general - especially since it lets you take advantage of their lower electricity rates. USD 0.79/day (0.003423 BTC) for a $419 investment seems off though.. 530 days to break even?

[speedt_ouch]

I'm not familiar with genesis mining, but that seems a bit low. 0.003423 BTC per 1000GH/s ? What's the initial investment @genesis?

According to their site the initial investment would be 419USD for 1000GHz

Do you have an account with hashnest?

I have an account with hashnest, but haven't bitten the bullet to try them yet. I think I'm going to wait a few more weeks to see if the S7 comes out as planned. I like the concept in general - especially since it lets you take advantage of their lower electricity rates. USD 0.79/day (0.003423 BTC) for a $419 investment seems off though.. 530 days to break even?

Exactly. Seems a bit much to invest for so little income, right?

That is why I'm tring to get hold of someone kind enough to share their earnings
 

[amelen]

I'm not familiar with genesis mining, but that seems a bit low. 0.003423 BTC per 1000GH/s ? What's the initial investment @genesis?

According to their site the initial investment would be 419USD for 1000GHz

Do you have an account with hashnest?

I have an account with hashnest, but haven't bitten the bullet to try them yet. I think I'm going to wait a few more weeks to see if the S7 comes out as planned. I like the concept in general - especially since it lets you take advantage of their lower electricity rates. USD 0.79/day (0.003423 BTC) for a $419 investment seems off though.. 530 days to break even?

Exactly. Seems a bit much to invest for so little income, right?

That is why I'm tring to get hold of someone kind enough to share their earnings
 

For the S5 the investment is $386.00, 1155.0GH/S and maintenance/payout is "48.19%". Just doing some simple math, the S5 should be generating around $3 USD/day, if the maintenance is 48%, that leaves $1.56 USD/day profit. So it would be 247 days to break even and at the end you still own the hardware (they'll ship it to you if you want). I think that sounds more reasonable, but that's going based on the numbers. I'd love to see the actual numbers people are getting.

[speedt_ouch]

For the S5 the investment is $386.00, 1155.0GH/S and maintenance/payout is "48.19%". Just doing some simple math, the S5 should be generating around $3 USD/day, if the maintenance is 48%, that leaves $1.56 USD/day profit. So it would be 247 days to break even and at the end you still own the hardware (they'll ship it to you if you want). I think that sounds more reasonable, but that's going based on the numbers. I'd love to see the actual numbers people are getting.

Correct. That is what I'm looking for also

Speaking about the "end"... The contract...

Genesis contract "Lifetime contracts do not have a maturity date. As long as the contract is profitable (i.e. the payout covers the maintenance fee) you will continue to mine and be able to receive payouts. "

Hashnest contract "Contracts are terminated when the maintenance fee is equal to the mining revenue for a period of ten days in a row."

I understand they are the same correct?

[amelen]

For the S5 the investment is $386.00, 1155.0GH/S and maintenance/payout is "48.19%". Just doing some simple math, the S5 should be generating around $3 USD/day, if the maintenance is 48%, that leaves $1.56 USD/day profit. So it would be 247 days to break even and at the end you still own the hardware (they'll ship it to you if you want). I think that sounds more reasonable, but that's going based on the numbers. I'd love to see the actual numbers people are getting.

Correct. That is what I'm looking for also

Speaking about the "end"... The contract...

Genesis contract "Lifetime contracts do not have a maturity date. As long as the contract is profitable (i.e. the payout covers the maintenance fee) you will continue to mine and be able to receive payouts. "

Hashnest contract "Contracts are terminated when the maintenance fee is equal to the mining revenue for a period of ten days in a row."

I understand they are the same correct?

Sounds the same to me. For Hashnest, some people claim that the S4 is more profitable than the S5 by the way, so you might be able to squeeze out a few more percentages out of it, depending on BTC value.

[speedt_ouch]

Sounds the same to me. For Hashnest, some people claim that the S4 is more profitable than the S5 by the way, so you might be able to squeeze out a few more percentages out of it, depending on BTC value.

It seems the S4 are all sold out.
Only S5 are available

I hope someone shares their numbers, then I will decide 

[chunkyjunkie]

I bought a 10.00 contract from Genesis a very long time ago, still pays to date but think I only have about 4-6.00 usd back on it lol.  Was a test.

Yes, I did rough numbers many times and they just don't compare in value to hashnest at the moment.  It is, however, one of the very few other cloud services I believe actually mine and are not a ponzi.

Now, Genesis did just recently partner with spoondoolies ( equipment manufacturer ) that actually delivered units and people liked.   So I am hoping soon spoondoolies is able to offer genesis a better rates and we get an offering from  genesis that makes sense.   I keep checking them out.

KNC I think is all in house now that they used their customers to build/finance their company and tossed them aside like garbage.   Even if KNC came out with a very good cloud offering to the public I would never support them going forward and I wasn't even one of the people burned by them.

A lot of the other big names have gone under, turned out to be scams or had no business experience and failed.  I am not really sure how bitfury works if they provide chips to all these other companies or if they will come out with their own equipment.

[TracerX]

Has anyone purchase an S5 from the shop lately?  I'm curious if the 72 hour waiting period is precise, or if they "provision" that GH sooner on occasion.  Thanks in advance! 

[hroub]

Sounds the same to me. For Hashnest, some people claim that the S4 is more profitable than the S5 by the way, so you might be able to squeeze out a few more percentages out of it, depending on BTC value.

It seems the S4 are all sold out.
Only S5 are available

I hope someone shares their numbers, then I will decide 

Where can I find an S5 contract? I only see the PACMiC V2?

[DebitMe]

Sounds the same to me. For Hashnest, some people claim that the S4 is more profitable than the S5 by the way, so you might be able to squeeze out a few more percentages out of it, depending on BTC value.

It seems the S4 are all sold out.
Only S5 are available

I hope someone shares their numbers, then I will decide 

Where can I find an S5 contract? I only see the PACMiC V2?

You can either by a PACMiC V2 or hash from an S2, S3, UMISOO, S4, or S5 which can be found by clicking Hash, then choosing the hash from the version of miner you want.  So if you want to buy 1000 GH/s of S5, go to Hash, click S5, go to market and put in a buy order for 1000 GH/S.

[hroub]

Sounds the same to me. For Hashnest, some people claim that the S4 is more profitable than the S5 by the way, so you might be able to squeeze out a few more percentages out of it, depending on BTC value.

It seems the S4 are all sold out.
Only S5 are available

I hope someone shares their numbers, then I will decide  

Where can I find an S5 contract? I only see the PACMiC V2?

You can either by a PACMiC V2 or hash from an S2, S3, UMISOO, S4, or S5 which can be found by clicking Hash, then choosing the hash from the version of miner you want.  So if you want to buy 1000 GH/s of S5, go to Hash, click S5, go to market and put in a buy order for 1000 GH/S.

Thanks. after comparing, it seems to me, that pacmic has less risk guaranteed roi, while something like s5 is higher risk as it depends on the difficulty and risks becoming unprofitable. right?

Unless if I misunderstand the pacmic revenues:
0.0000000045 *60 * 60 *24 = 0.0003888 the first day

[DebitMe]

Sounds the same to me. For Hashnest, some people claim that the S4 is more profitable than the S5 by the way, so you might be able to squeeze out a few more percentages out of it, depending on BTC value.

It seems the S4 are all sold out.
Only S5 are available

I hope someone shares their numbers, then I will decide  

Where can I find an S5 contract? I only see the PACMiC V2?

You can either by a PACMiC V2 or hash from an S2, S3, UMISOO, S4, or S5 which can be found by clicking Hash, then choosing the hash from the version of miner you want.  So if you want to buy 1000 GH/s of S5, go to Hash, click S5, go to market and put in a buy order for 1000 GH/S.

Thanks. after comparing, it seems to me, that pacmic has less risk guaranteed roi, while something like s5 is higher risk as it depends on the difficulty and risks becoming unprofitable. right?

Unless if I misunderstand the pacmic revenues:
0.0000000045 *60 * 60 *24 = 0.0003888 the first day

You almost got the PACMiC revenue right, you also have to take it times the remaining principal.  So towards the end of the contract, you are earning very little profit.

[speedt_ouch]

Sounds the same to me. For Hashnest, some people claim that the S4 is more profitable than the S5 by the way, so you might be able to squeeze out a few more percentages out of it, depending on BTC value.

It seems the S4 are all sold out.
Only S5 are available

I hope someone shares their numbers, then I will decide  

Where can I find an S5 contract? I only see the PACMiC V2?

You can either by a PACMiC V2 or hash from an S2, S3, UMISOO, S4, or S5 which can be found by clicking Hash, then choosing the hash from the version of miner you want.  So if you want to buy 1000 GH/s of S5, go to Hash, click S5, go to market and put in a buy order for 1000 GH/S.

Thanks. after comparing, it seems to me, that pacmic has less risk guaranteed roi, while something like s5 is higher risk as it depends on the difficulty and risks becoming unprofitable. right?

Unless if I misunderstand the pacmic revenues:
0.0000000045 *60 * 60 *24 = 0.0003888 the first day

You almost got the PACMiC revenue right, you also have to take it times the remaining principal.  So towards the end of the contract, you are earning very little profit.

I'm not native english, don’t know if this is the reason, but I really have a hard time understanding PACMiC V2.

I get that it has less risk than a normal mining rig. And that I should get profit in less time.

But what is the capital?

How much profit or close value can we get?

How long will it be mining for us?

Anyone care try and explain to this sorry newbie?

Thanks

[DebitMe]

Sounds the same to me. For Hashnest, some people claim that the S4 is more profitable than the S5 by the way, so you might be able to squeeze out a few more percentages out of it, depending on BTC value.

It seems the S4 are all sold out.
Only S5 are available

I hope someone shares their numbers, then I will decide  

Where can I find an S5 contract? I only see the PACMiC V2?

You can either by a PACMiC V2 or hash from an S2, S3, UMISOO, S4, or S5 which can be found by clicking Hash, then choosing the hash from the version of miner you want.  So if you want to buy 1000 GH/s of S5, go to Hash, click S5, go to market and put in a buy order for 1000 GH/S.

Thanks. after comparing, it seems to me, that pacmic has less risk guaranteed roi, while something like s5 is higher risk as it depends on the difficulty and risks becoming unprofitable. right?

Unless if I misunderstand the pacmic revenues:
0.0000000045 *60 * 60 *24 = 0.0003888 the first day

You almost got the PACMiC revenue right, you also have to take it times the remaining principal.  So towards the end of the contract, you are earning very little profit.

I'm not native english, don’t know if this is the reason, but I really have a hard time understanding PACMiC V2.

I get that it has less risk than a normal mining rig. And that I should get profit in less time.

But what is the capital?

How much profit or close value can we get?

How long will it be mining for us?

Anyone care try and explain to this sorry newbie?

Thanks

Think of it as a bond.   You own nothing physical, but will get returns every time a block is found.

You pay 1 btc to Hashnest.  In return, they promise to pay you 1 btc back and interest for borrowing your money.  Overtime, you will slowly start earning your 1 btc of principal back, and interest for the time that you let them borrow your money.  That is the easy way to understand it, now a bit more technical is how it is done...

The loan is paid back based on 1 TH/s of mining power.  When the pool finds a block, you get a reward as if you had 1 TH/s of mining power pointed at the pool, with no electricity or admin fees taken out.  So lets for the sake of this example say that a block is found and 1 TH/s of mining power gives you .00005 btc.  The .00005 btc is paid to you and your principal is reduced by that amount.  Now they only owe you .99995 btc back. This goes on every time a block is found until you have your 1 btc back.

There is also profit built into that though.  So, with the first block found, if it takes 1000 seconds to find that block, your profit would be .00004500 (1000 seconds X 4.5 satoshis X 1 btc).  So instead of of the .00005 btc going towards principal, you subtract out your profit portion, and the remaining goes towards your principal.  The next block also takes 1000 seconds, but your profit will be lower because your principal is lower (1000 seconds X 4.5 satoshis X remaining principal balance).

[hroub]

Sounds the same to me. For Hashnest, some people claim that the S4 is more profitable than the S5 by the way, so you might be able to squeeze out a few more percentages out of it, depending on BTC value.

It seems the S4 are all sold out.
Only S5 are available

I hope someone shares their numbers, then I will decide  

Where can I find an S5 contract? I only see the PACMiC V2?

You can either by a PACMiC V2 or hash from an S2, S3, UMISOO, S4, or S5 which can be found by clicking Hash, then choosing the hash from the version of miner you want.  So if you want to buy 1000 GH/s of S5, go to Hash, click S5, go to market and put in a buy order for 1000 GH/S.

Thanks. after comparing, it seems to me, that pacmic has less risk guaranteed roi, while something like s5 is higher risk as it depends on the difficulty and risks becoming unprofitable. right?

Unless if I misunderstand the pacmic revenues:
0.0000000045 *60 * 60 *24 = 0.0003888 the first day

You almost got the PACMiC revenue right, you also have to take it times the remaining principal.  So towards the end of the contract, you are earning very little profit.

so at current difficulty, the revenues that go toward the 1 1btc cost of the 1000 GH/s contract with the $0.098 kwh cost, according to coiwarst profitability calc the daily revenue would be 0.01056774 btc that goes toward the 1 btc investment and it would ideally break even in 93 days, if difficulty remains the same

therefore the daily discount rate of investment would be 0.01056774. every month 10.57% is paid towards balance
so the 0.0003888 every month gets decreased by the rate of (10.57%) for 93 day.
since we know the bonus will be paid for 93 [EDIT: days], we can start from the 93rd day and go backwards.
Effectively the the bonuses would be the sum of 0.000388 * (1+ 0.01056774) from day 0 to 93. Therefore using the future value formula:

Future bonuses = 0.000388 * (1+ 0.01056774)^93 = 0.00103137 btc that's 0.103% profit on the
the average daily profit would be 0.00103137 / 93 days = 0.00001109
[EDIT: I must have a mistake here... u can get this amount from faucets ]

[EDIT: OK, the above is wrong in different levels. It should have been 0.000388 * (1+ (1 - 0.01056774)/93)^93 since the bonus keeps getting decreased by .010, but its still wrong because this is assuming a block is found every day. If the pool is supposed to be 5TH then according to coinwars a block is generated every 0.2 days which is 5 times a day.
The correct equation should be: 0.000388 * (1 + 0.01056774)^(5*93) = 0.05149402 for all 93 days. Thats a total of 5.15% in the 93 day contract. Makes more sense.
so the average daily profit is 0.05149402 / 93 days = 0.00055370 BTC/day]

Now the S5 burns 0.51/GH according to hashnet, its 1155 GH are 589.05W and hashnet charges $0.0976/kWh.

Inputting this data on coinwars calculator, with the same exchange rate and difficulty,
the profit per day is $1.44 or 0.00427719 BTC with the current USD 233.7979 exchange rate. so in 93 days the profit from revenues should be 0.39777867 BTC.
It would break even is 268.06 days to generate our invested 1.1465435514, and start generating profit of 0.00427719 daily

all this is however assuming that difficulty and exchange rate doesn't change over time...

If the drop of btc price continues to drop at the same rate it has been, we could take an educated guess on how much is the btc gonna be worth after 286 days:

if todays price is $230/btc according to coinbase, 286 days ago on August 30th, 2014, coinbase price was $504/btc

Thats percentage drop of (504-230)/504 = 0.54365079. Note that the curve is kinda stabilizig, so assuming a continuous straight line drop is being extreme and over-safe (worst case scenario).

so the worst case scenario would be that our break even btcs would need to increase by 0.54365079 more than 1.1465435514

so 1.54365079 * 1.1465435514 = 1.76986286 BTC

and proportionally our break even days would also be 286.06 days * 1.54365079 = 441.58 days

and the daily profits would actually be worth less by (1 - 0.54365079) * 0.00427719 BTC = 0.00195189 BTC

Thats is still much more than the PACMiC V2, but there would but if I am not mistaken, there would be the risk of never breaking even, if the device becomes unprofitable before the 442.58 day worst case scenario...

Unfortunately I still consider myself a newbie and am still not sure how and why the difficulty changes...

Can anyone verify the math? And can anyone make anything out of my results?