HASHNEST Discussion and Support Thread

[Bitshire Hashaway]

 

 I do belive by the 'wow gold farming' standarts of Chinese is providing us with cheap bitcoin. If I am right , they do not care about the ideology of bitcoin. They just want to mine and make money and that is it. Nothing more nothing less. Only a source of income for them. Which means they will keep mining and even mine more in the future , possibly even get the %80+ of mining themselves but then sell off all of the coins they mine.

 We can't get the coin prices higher as long as we do not have enough volume to buy bitcoins then chinese miners sell. We already have buyers and sellers regardless of miners , if the buyer amount surpasses the sellers+miners regularly it will start rising in the future.


 buyers > sellers+miners = btc going up
 buyers < sellers+miners = btc going down


 Now some of you might say 'isn't that obvious?' , well that means you either forget 2011-2013 era or you started sooner then those times. Those were the times when miners were on the side of buyers. They tried to mine + buy bitcoin because they believed in it. I was one of them , I mined and bought btc because I could mine with a simple laptop. Now you need to purchase miners worth more then a house to get any coins in mining.


 Long story short , %50+ going to chinese shifted the idea of 'miner' , the guy who believed in bitcoin to be huge and wanted as much as possible , who tried to find a way to mine with ps3 and iphone and even bought on top that became the company who bought 250 thousand dollars worth of miners to mine and sell of all of their mined coins.

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[adaseb]

So does this farm actually have a physical S3 which the users bought the GHS with ? I always assumed they just used the newest and latest hardware and just assigned whatever speeds each model has. Like an S7 can be 10 Antminer S3's.

So you might have an S3 running at 0.450T but insteads its really a S7 thats doing the hashing.

[cesmak]

So does this farm actually have a physical S3 which the users bought the GHS with ? I always assumed they just used the newest and latest hardware and just assigned whatever speeds each model has. Like an S7 can be 10 Antminer S3's.

So you might have an S3 running at 0.450T but insteads its really a S7 thats doing the hashing.

And who do you think had paid for the swap from old S2 S3 etc. to S7 ? Bitmain ? Naaaahhhhh.

Old S2, S3, S4, S5 stay in farm until they are obsolete and then the can be redemed or dismantle.... no company will crunch his profit to swap old mining gears.... LOL....

[galdur]

[galdur]

The discounts have been coming thick and fast at Genesis Mining. It´s usually an ominous sign in the cloud mining business. Maybe they´re on their last leg.

[DebitMe]

So does this farm actually have a physical S3 which the users bought the GHS with ? I always assumed they just used the newest and latest hardware and just assigned whatever speeds each model has. Like an S7 can be 10 Antminer S3's.

So you might have an S3 running at 0.450T but insteads its really a S7 thats doing the hashing.

And who do you think had paid for the swap from old S2 S3 etc. to S7 ? Bitmain ? Naaaahhhhh.

Old S2, S3, S4, S5 stay in farm until they are obsolete and then the can be redemed or dismantle.... no company will crunch his profit to swap old mining gears.... LOL....

No, they would absolutely have S7's hashing in the farm for everything that they can.  It would be stupid not too.  They get to directly pocket whatever the difference is between the maintenance fee they are charging and what it actually uses, I would guestimate that this is pretty significant revenue for them.

EDIT:  This is pretty much evidenced by the fact that when the UMISOO and S2 shut down, there was no drop in the global hashrate like you would expect when a bunch of machines were turned off.

[Salmen]

Are those guys related with Hashnest?

[galdur]

Are those guys related with Hashnest?

Competition. Well, one used to be competition I guess he´s on his way behind bars. The other´s operation is still going but seems to be showing some cracks.

[Temo58]

I got it from the shop. And, like some guys told me on here when I asked that same question that it is really up to you whether you think it is worth it or not.

I personally like the PACMiC v2 contract because I didn't purchase them expecting too much. Just small interest (14% really isn't small when compared to a bank)on some bitcoin holdings.  And, with bitcoin prices looking a little healthier recently I have no problem leaving the auto-buy feature enabled which prolongs my principal payback, but allows it to grow slightly more.

[crazyivan]

I got it from the shop. And, like some guys told me on here when I asked that same question that it is really up to you whether you think it is worth it or not.

I personally like the PACMiC v2 contract because I didn't purchase them expecting too much. Just small interest (14% really isn't small when compared to a bank)on some bitcoin holdings.  And, with bitcoin prices looking a little healthier recently I have no problem leaving the auto-buy feature enabled which prolongs my principal payback, but allows it to grow slightly more.

If u do leave autobuy on, this means u buy more contracts. How do make money on it then? Instead of payouts, u get more shares.

[megatron1337]

I got it from the shop. And, like some guys told me on here when I asked that same question that it is really up to you whether you think it is worth it or not.

I personally like the PACMiC v2 contract because I didn't purchase them expecting too much. Just small interest (14% really isn't small when compared to a bank)on some bitcoin holdings.  And, with bitcoin prices looking a little healthier recently I have no problem leaving the auto-buy feature enabled which prolongs my principal payback, but allows it to grow slightly more.

V2 can't be purchased anymore.

[johny08]

The prices for the S5 are low so that my GHS is almost nothing worth.
Before the big difficulty increase, my GHS were 0.75 BTC worth. After the big difficulty increase my GHS is 0.30 BTC worth. This in fact 0.46 BTC (60%) loss.

God knows, my GHS is in February only 0.15 BTC worth.

R.I.P. S3

after 7 days of mining with s7 as a test I lost 15%, when I resell on the market. Conclusion: Good business for Hashnest, bad for me. :-)

[Bitshire Hashaway]

 Don't sell when it is the latest miner on the market.

 Buy whatever comes next. Hold it , get your money back with mining, then if there is a new one on the market , sell yours.

 If you sell it during any of this time , you may lose your coins of course. The resell your hash option is not there for 1 week hashing , its there when you are done with it , dump it.

[skuser]

The prices for the S5 are low so that my GHS is almost nothing worth.
Before the big difficulty increase, my GHS were 0.75 BTC worth. After the big difficulty increase my GHS is 0.30 BTC worth. This in fact 0.46 BTC (60%) loss.

God knows, my GHS is in February only 0.15 BTC worth.

R.I.P. S3

after 7 days of mining with s7 as a test I lost 15%, when I resell on the market. Conclusion: Good business for Hashnest, bad for me. :-)

If you bought the hashes on hashnest market hashnest as company has nothing from your purchase except trading fee.

[lenoli]

earning from s7 was decreased significantly in these days, can anyone explain the reason?

[crazyivan]

earning from s7 was decreased significantly in these days, can anyone explain the reason?

Uhm...maybe difficulty growth and BTC price decrease? Have you considered those?

[cesmak]

earning from s7 was decreased significantly in these days, can anyone explain the reason?

Uhm...maybe difficulty growth and BTC price decrease? Have you considered those?

And also bad luck in pool...... periodically happens...

[ronaldo40]

earning from s7 was decreased significantly in these days, can anyone explain the reason?

Uhm...maybe difficulty growth and BTC price decrease? Have you considered those?

yes usually one of them is the level of difficulty increases and it is clear earning will decreased . I also experienced it.

[galdur]

Total mining hash in the world has about doubled in the last four months. This is chasing a fixed amount of BTC being mined each day so yes, you´ve been experiencing decreasing payouts. Well, it´s not totally fixed per day but just about. I guess it´s 140-150 blocks per day plus or minus.

The way this works is that the bitcoin protocol assumes an average block generation time of 600 seconds. When hash is added to the system more blocks are obviously found so the generation time decreases. After 2016 blocks generated, which takes 12-14 days, bitcoin adjusts the generation time back to 600 seconds. If for example the generation time has fallen to 540 seconds over the period, difficulty increases by about 11%. More hash results in less payout on average per unit of hash.

If total hash decreases, this works in reverse. Block generation time increases and difficulty goes down correspondingly.

[galdur]

What all this obviously means is that no, cloud mining operations aren´t selling you hash out of the goodness of their hearts, you´re in effect financing their mining equipment. It´s a great deal for them because very few people actually make any money out of this (get back money loaned) except of course the referral shills that convince people to join these largely hopeless deals. They get their commission for the victims provided.