HASHNEST Discussion and Support Thread

[AizenSou]

12$ for a S5 now, which was sold for 1000$ a few months earlier.

So don't blame ponzi anymore people. Ponzi or legal, it's just the same fate ))

Sorry for anyone who lost in this, myself include, but I can't stop laughing at these price.

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[DebitMe]

12$ for a S5 now, which was sold for 1000$ a few months earlier.

So don't blame ponzi anymore people. Ponzi or legal, it's just the same fate ))

Sorry for anyone who lost in this, myself include, but I can't stop laughing at these price.

Don't blame Hashnest.  You invested in an asset and it didn't turn out, that's your fault, not anyone else's.  Either you didn't understand what you were buying or you didn't accurately predict what the market would do, either way, that is 100% on you and no one else.

This is a service that is offered, it is in no way the same as a Ponzi.  Take ownership for your actions and understand it was your fault for investing and losing, nothing was stolen from you.

[AizenSou]

12$ for a S5 now, which was sold for 1000$ a few months earlier.

So don't blame ponzi anymore people. Ponzi or legal, it's just the same fate ))

Sorry for anyone who lost in this, myself include, but I can't stop laughing at these price.

Don't blame Hashnest.  You invested in an asset and it didn't turn out, that's your fault, not anyone else's.  Either you didn't understand what you were buying or you didn't accurately predict what the market would do, either way, that is 100% on you and no one else.

This is a service that is offered, it is in no way the same as a Ponzi.  Take ownership for your actions and understand it was your fault for investing and losing, nothing was stolen from you.

I blame no one, my friend

Just a little humor for people who lost here, unfortunately I know a lot of them, some are even friends.

If you made decent profit from it, then congrats You're smarter than most of average joe out there .

[mrsalve]

Ya things are not looking good here.

I looked hard to it and did some calculations:

From 28'th of January and till this post here result is: -0,513 BTC


My 2 dimes is lost did come mostly from when I changed s5 to s7 and of cause dropped price of GH.

[Matias]

Apparently S5 doesn't produce anything now after maintenance.  So they should switch to "redemption waiting period" soon?

[Salmen]

Apparently S5 doesn't produce anything now after maintenance.  So they should switch to "redemption waiting period" soon?

They are switching after 10 days with a fee over 100%.
The fee of S5 is high that is producing satoshis lol

[rastislav365]

S5 is dead within 10 days, S7 within 1 month.

[deadpoolx]

S5 is dead within 10 days, S7 within 1 month.

wtf?

[Matias]

I don't think S7 is "dead" in one month, but S5 should soon go to “redemption waiting period”.

Miner Redemption

1.    If due to falling bitcoin exchange rate or increase in mining difficulty, the electricity fee is greater than 90% of mining revenues, mining contracts on Hashnest will enter a “redemption waiting period”.

2.    As we do our best to keep mining contracts profitable, during this waiting period, revenues will be paid out according to the PPS method.And the market will closed.

3.    If owing to a rising exchange rate, the ratio of electricity fees to PPS payout is lower than 90% for a period of ten continuous days, then mining contracts will revert back to the PPLNS method.

4.    During this waiting period, if electricity fees are greater than revenues for a sustained period of ten continuous days, Hashnest reserves the right to retire the machines. When machines are retired, a user’s contract will then enter into the “hardware redemption period”.

5.    Prior to a machine entering into this hardware redemption period, Hashnest will not accept any requests for hardware redemption.

6.    During the hardware redemption period, users are given a period of 15 days during which requests for hardware redemption must be made.

7.    Customers holding enough GH/s to constitute an entire machine of the associated type (e.g., 1155 GH/s of Antminer S5) are eligible to convert that amount of GH/s into the used unit of the associated type. If a user does not have enough GH/s of the associated kind to exchange for actual hardware, then this user is not eligible for hardware redemption.


Have you guys transported your gear from Hashnest after "redemption period"?

Ps. it is worth noticing, that S5 hash market closes soon (see rule number 2)

[galdur]

"The greatest shortcoming of the human race is our inability to understand the exponential function."

---Albert A. Bartlett (1923-2013) was Professor Emeritus in Nuclear Physics at University of Colorado at Boulder. 

[mandica]

What about Pacmic? Does anyone go into that anymore?

i dont understand. you cant get out your money with pacmic v4 with the halving and this difficulty. and people still buying. thats a guaranteed loss.

when you buy now and the s7 still mining until the halving then you get around 70% back without difficulty rising until then. so goodbuy btc :-)

Two months ago, pacmic v4 was a good value, but not any more. The electricity price is too high at 0.1$/kWh.

[galdur]

Well, the average block generation time is already down to 540 seconds and total hash presently about 1.2 Exahash/s. I guess developments lately have been similar to the later stages in the California Gold Rush, most money to be made selling mining equipment.

[chmick]

Well, the average block generation time is already down to 540 seconds and total hash presently about 1.2 Exahash/s. I guess developments lately have been similar to the later stages in the California Gold Rush, most money to be made selling mining equipment.

At least we can say there is new player . https://blockchain.info/fr/pools?timespan=24hrs

Bitfury is gaining ground it seems to me. Is that a side effect of that : http://www.businesswire.com/news/home/20151216005453/en/BitFury-Announces-Mass-Production-Fastest-Effective-16nm
?

but somehow I would not declare S5 dead yet . I have the feeling just before that BTC price is suddenly going up diff slowing down .

[galdur]

Well, the average block generation time is already down to 540 seconds and total hash presently about 1.2 Exahash/s. I guess developments lately have been similar to the later stages in the California Gold Rush, most money to be made selling mining equipment.

At least we can say there is new player . https://blockchain.info/fr/pools?timespan=24hrs

Bitfury is gaining ground it seems to me. Is that a side effect of that : http://www.businesswire.com/news/home/20151216005453/en/BitFury-Announces-Mass-Production-Fastest-Effective-16nm
?

but somehow I would not declare S5 dead yet . I have the feeling just before that BTC price is suddenly going up diff slowing down .

Yes, interesting. Is this new chip mining substantially yet? I thought it was due on the market in the spring.

[kotwica666]

Apparently S5 doesn't produce anything now after maintenance.  So they should switch to "redemption waiting period" soon?

They are switching after 10 days with a fee over 100%.
The fee of S5 is high that is producing satoshis lol

Where did you get this information?
Why S5 would be switched, and S4 not yet?

[mwizard]

Where did you get this information?
Why S5 would be switched, and S4 not yet?

S4s are being redeemed at present.

"Since2016-01-29, revenues from AntMiner S4 PPS contacts have been lower than the power cost required by these machines.

S4 redeem period is form Feb 8th to 23th. With in 15 days ."

[ps_jb]

S5 is dead within 10 days, S7 within 1 month.

wtf?

Surprised?

[ps_jb]

What about Pacmic? Does anyone go into that anymore?

i dont understand. you cant get out your money with pacmic v4 with the halving and this difficulty. and people still buying. thats a guaranteed loss.

when you buy now and the s7 still mining until the halving then you get around 70% back without difficulty rising until then. so goodbuy btc :-)

Two months ago, pacmic v4 was a good value, but not any more. The electricity price is too high at 0.1$/kWh.

Pacmik v4 never was  good investment. Only v3 with autobuy was

[ps_jb]

but somehow I would not declare S5 dead yet . I have the feeling just before that BTC price is suddenly going up diff slowing down .

S5 is 100% dead

[cvak]

Why I can't sell my S4 hashpower?