HASHNEST Discussion and Support Thread

[wikenpp]

S5 prices are nicely adjusting the cruel reality however S7 hashes keep being brutally overpriced. There will be huge drop in price probably only after people realize that at this speed of difficulty growth the S7 will NOT survive halving.

Well, it is said that modern man suffers from lack of understanding of exponential functions. Doubling time, compounded interest etc.

Difficulty History

Date   Difficulty   Change   Hash Rate
Jan 26 2016   120,033,340,651 5.89%   859,232,121 GH/s
Jan 13 2016   113,354,299,801 9.12%   811,421,684 GH/s
Dec 31 2015   103,880,340,815 11.16%   743,604,444 GH/s
Dec 18 2015   93,448,670,796   18.14%   668,931,642 GH/s
Dec 06 2015   79,102,380,900   8.77%   566,236,898 GH/s
Nov 24 2015   72,722,780,643   10.44%   520,569,941 GH/s
Nov 11 2015   65,848,255,180   5.77%   471,360,171 GH/s
Oct 29 2015   62,253,982,450   2.25%   445,631,364 GH/s
Oct 15 2015   60,883,825,480   0.12%   435,823,399 GH/s
Oct 01 2015   60,813,224,039   2.49%   435,318,014 GH/s
Sep 17 2015   59,335,351,234   4.17%   424,738,988 GH/s
Sep 04 2015   56,957,648,455   4.98%   407,718,729 GH/s
Aug 22 2015   54,256,630,328   2.95%   388,384,088 GH/s

Yeah it's strange for me.
1 Month ago S5 had around 40% of the cost. Now it's close to 80&

Well, it s obvious after halving nothing will survive besides S7 and even that one will be at close to 90%. So, we need new miners, much more efficient or we need the price to go up big time.

If the 16 nm miner does not come out before halving, then S7 will last long time. 16 nm will kill most miners before it.

Well it all depends on the difficulty and what will happen with the price of bitcoin.
Right now it's really insecure what is going to happen.

[Lituation]

When will S4's closed? Is it after 10 days of inactivity again?
When will S4 owners can demand their equipment physically?

[lumeire]

When will S4's closed? Is it after 10 days of inactivity again?
When will S4 owners can demand their equipment physically?

Yeah, they will send a message for that. As far as I know, the conversion is per 2000 gH / 1 S4 unit.

[D4RK5T4R]

When will S4's closed? Is it after 10 days of inactivity again?
When will S4 owners can demand their equipment physically?

Demand is a bit of overstatement, you can request to redeem during the redeem period if/when it starts.

Also remember that they will want handling fees, domestic and international shipping fees.

2.    Users residing in China will be required to pay a handling fee and the cost of domestic shipping. Users residing outside of China will be required to pay a handling fee, the cost of domestic shipping to a port, and the international shipping fee.

3.    Handling fees are set at US$50, and domestic Chinese shipping (including to the export) and international shipping fees will be collected according to the actual charge.

[galdur]

The trading volume of bitcoin has been dropping and this leads to a falling price. Obviously there are huge investments in mining (total hash is presently over 1 Exahash/s) and the product needs to be sold. Now, halfway into this difficulty adjustment period the production is up to over 4000 bitcoins a day (average 3600, based on the average block time of 600 seconds). That´s how it is, they ramp up production after the adjustment, mine like crazy and then maybe turn off some gear towards the end of the adjustment period. Currently I´d be very surprised if some notable mining operations in the west don´t go belly up in the next months. I think they´re fast running out of suckers to help fund their operations.

[Bitshire Hashaway]

 There was a huge drop on price for S7 in the last 24 hours or so , do we know the reason for it?

[cesmak]

 There was a huge drop on price for S7 in the last 24 hours or so , do we know the reason for it?

Panic selling ?

[chmick]

 There was a huge drop on price for S7 in the last 24 hours or so , do we know the reason for it?

Panic selling ?

due to the diff increase , people sell to cut the future losses .

[Bitshire Hashaway]

 When is the next diff change?

[DebitMe]

 When is the next diff change?

www.bitcoinwisdown.com will help you with your questions.

[Bitshire Hashaway]

 Ohh , about in 5 days. That is not good.

[skuser]

 There was a huge drop on price for S7 in the last 24 hours or so , do we know the reason for it?

Next diff change will be about 20% which will practically mean the S7 will not survive halving at current BTC/USD price, in other words it will never ROI.

[Dekker3D]

Not sure why are there still buyers out there knowing that they not make any profit out of it unless they're using free electricity. S5 could become unusable within the next few months if they'll continue sell S7s.

[crazyivan]

Not sure why are there still buyers out there knowing that they not make any profit out of it unless they're using free electricity. S5 could become unusable within the next few months if they'll continue sell S7s.

Maybe they plan to redeem miners but yes, I generally agree, cloud mining is a tough choice ATM.

[chmick]

Hello everybody.

Just saw a post on reddit /r/bitcoin telling hashnest has been hacked and some people lost coins .

check your account .

BTW that could explain also some price dive if account were hacked and hash power sold massively .

[pallas]

 There was a huge drop on price for S7 in the last 24 hours or so , do we know the reason for it?

Next diff change will be about 20% which will practically mean the S7 will not survive halving at current BTC/USD price, in other words it will never ROI.

this is assuming the diff will stay the same, which is very unlikely.
halving will bring diff down, or everybody will mine at a loss.

[skuser]

 There was a huge drop on price for S7 in the last 24 hours or so , do we know the reason for it?

Next diff change will be about 20% which will practically mean the S7 will not survive halving at current BTC/USD price, in other words it will never ROI.

this is assuming the diff will stay the same, which is very unlikely.
halving will bring diff down, or everybody will mine at a loss.

Yes very probably the difficulty will drop after halving when old tech gear will get shut down. However it seems some new low consumption technology is being plugged in which won't have to be shut down after halving and it's share on total hashrate will be so high the diff drop will be within single digit percent number. Anyway will be fun to watch.

[chmick]

 There was a huge drop on price for S7 in the last 24 hours or so , do we know the reason for it?

Next diff change will be about 20% which will practically mean the S7 will not survive halving at current BTC/USD price, in other words it will never ROI.

this is assuming the diff will stay the same, which is very unlikely.
halving will bring diff down, or everybody will mine at a loss.

Correct me if I'm wrong but now 1THS of S5 bring around 0.00418979 BTC/TH/day (i'm using pps number). that make a ROI of 95 days (pretty nice) .

But with the next diff increase income per day goes down from 19% so it will be 0.0033 BTC/TH/day . That make a ROI of 631 days (for me equals never ROIed)
Knowing than next diff is calculated on the time it took to find the  last 2016 blocks, even if some big player switch off his pool today there is no chance to trick the diff calculations .

So am I correct to assume  than :

either S5 is dead in  the next 5 days ?
or BTC price has to increase by at least 20% to keep the S5 running .

There is some market behaviour i don't understand right now or somebody is betting on BTC price increase ??
PS : I can't help it thinking something smell fishy and S5 market price is manipulated (why would it be buyers on the market, knowing the numbers above ? )

[skuser]

Correct me if I'm wrong but now 1THS of S5 bring around 0.00418979 BTC/TH/day (i'm using pps number). that make a ROI of 95 days (pretty nice) .

But with the next diff increase income per day goes down from 19% so it will be 0.0033 BTC/TH/day . That make a ROI of 631 days (for me equals never ROIed)
Knowing than next diff is calculated on the time it took to find the  last 2016 blocks, even if some big player switch off his pool today there is no chance to trick the diff calculations .

So am I correct to assume  than :

either S5 is dead in  the next 5 days ?
or BTC price has to increase by at least 20% to keep the S5 running .

There is some market behaviour i don't understand right now or somebody is betting on BTC price increase ??
PS : I can't help it thinking something smell fishy and S5 market price is manipulated (why would it be buyers on the market, knowing the numbers above ? )

Your S5 PPS number is theoretical yield BEFORE deducting maintenance fee. Hashnest S5 currently makes 0.00418979 - 0.003 daily fee = 0.0011 net BTC/TH/day. The ROI  at S5 market price 0.1/TH is about 90 days, so that's correct anyway

With next diff increase, say 19% the net earnings will drop to 0.00339 - 0.003 = 0.00039 net BTC/TH/day which will make theoretical ROI drop to about 270 days so despite your ROI calculation is too pesimistic it is true anyway because halving will happen in about 160 days.

However it doesn't mean S5 is dead in 5 days, the earnings will be still positive so there is a lot of time for speculation, because if BTC price goes up S5 ROI will improve.

S5 will be dead at current BTC price when difficulty grows another 11% after 19%. Then the net daily earnings will drop to zero.

PS And don't try to understand market, it always behaves irrationaly

[chmick]

thanks for your calculations .

Talking about dying , Have anybody heard anything about S4  redeeming ??  It seems it has been over 100% for a while now .