HASHNEST Discussion and Support Thread

[leowonderful]

Wonder why they don't add some of their other algo miners to the mix.
The L3 sold out on hashnest in hours when first released, and had a 2% maintenance fee and insane returns.
The trading and maintenance fees now probably earns Bitmain more than the miners themselves.

It's pretty clear to me that Bitmain doesn't really care about Hashnest much anymore the way they've been acting recently and thus they aren't adding new miners and they might just move to just fully mining for themselves- they did the redemption period for S7s the way they did for previous miners like the S3s and S5s, but there's been more and more server maintenance and errors in general on the platform since the Scrypt miners were added. The profitability on S9s and L3+s continues on a downward fall and the redemption of their last miners might just be the end of Hashnest considering they've added nothing since the L3+s and things have been going down since then. I would be pretty disappointed if Hashnest just died like this- I remember the platform back when the S3s and S5s were traded and there used to be a chatbox in the Android app that people actually used. Good times...

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[Rogerdale]

Wonder why they don't add some of their other algo miners to the mix.
The L3 sold out on hashnest in hours when first released, and had a 2% maintenance fee and insane returns.
The trading and maintenance fees now probably earns Bitmain more than the miners themselves.

It's pretty clear to me that Bitmain doesn't really care about Hashnest much anymore the way they've been acting recently and thus they aren't adding new miners- they did the redemption period for S7s the way they did for previous miners like the S3s and S5s, but there's been more and more server maintenance and errors in general on the platform since the Scrypt miners were added. The profitability on S9s and L3+s continues on a downward fall and the redemption of their last miners might just be the end of Hashnest considering they've added nothing since the L3+s and things have been going down since then.

Yes, for sure, since the last mining restrictions in China Bitmain decided to abandon Hashnest. They will likely shut it down when S9 and L3+ fall below the profitability threshold (that will happen by 2019-2020 for sure).

[jackg]

I just want to clarify something whether they are paying to the members or not? I hear previously they are charging high amount for withdrawals and the answers from them is maintenance fee? Still, they are paying to their community on time?

I'm not sure about their support. The withdrawal fee for Bitcoin is 0.001BTC which is extremely excessive.
The other withdrawal fees don't look too bad - a way to get you to trade them so they get 0.2% presumably.

[bones261]

I just want to clarify something whether they are paying to the members or not? I hear previously they are charging high amount for withdrawals and the answers from them is maintenance fee? Still, they are paying to their community on time?

I'm not sure about their support. The withdrawal fee for Bitcoin is 0.001BTC which is extremely excessive.
The other withdrawal fees don't look too bad - a way to get you to trade them so they get 0.2% presumably.

The current BTC withdrawal fee was changed due to complaints back when there was an extreme backlog of transactions and they were only charging .0002 BTC fee. People were complaining because their transactions would be stuck for days/weeks. Unfortunately, they have never changed the fee back.

[jackg]

The current BTC withdrawal fee was changed due to complaints back when there was an extreme backlog of transactions and they were only charging .0002 BTC fee. People were complaining because their transactions would be stuck for days/weeks. Unfortunately, they have never changed the fee back.

And we know why they haven't changed that back...
Also, I never had an issue even in the extreme backlog, although I suppose my transactions were mostly quite small so it was 1/2 inputs to 2 outputs.

[mercedes321]

but i still bought 2/3 machines L3,...i think they will still mine with a profit, if cripto rebounds for a half a year from now,...so i will actually wait untill they abondon the service....at least widrawals of LTC works, which was the most undesired with them...i will have 1/4 mining, 2/4 arbitrage on DEC not with them, and 1/4 on margin..

[jackg]

but i still bought 2/3 machines L3,...i think they will still mine with a profit, if cripto rebounds for a half a year from now,...so i will actually wait untill they abondon the service....at least widrawals of LTC works, which was the most undesired with them...i will have 1/4 mining, 2/4 arbitrage on DEC not with them, and 1/4 on margin..

The S7s rebounded from 75% last year before the price of bitcoin rose to $20000 so the L3+ and S9s are probably quite likely to do the same if bitcoin rises a bit.

[mercedes321]

yeah it might, but ill be happy if i will seel for the same price i bought,..hahai cant belive i paied last year for 3 machines for 330 LTC, and now they are at 6.5LTC. And it has to do with how much it mines per day as well, so i am not sure it will rebound, it might if we go big position in, but i aint.

[jackg]

yeah it might, but ill be happy if i will seel for the same price i bought,..hahai cant belive i paied last year for 3 machines for 330 LTC, and now they are at 6.5LTC. And it has to do with how much it mines per day as well, so i am not sure it will rebound, it might if we go big position in, but i aint.

Wow! That's a tremendous loss there.
I considered buying an L3+ but the idea that it was the first litecoin miner that came out i decided to plunge just 2 ltc into it. I'm very happy that I did do that though since how much they're worth now.
There's probably going to be a while until they go over 100% so you could ROI however the chances of that will depend on quite a few things.

[mercedes321]

oh, i got out with profit, i didnt wait in here all along, so i have a profit, and i want to make profit again, whats the point if no profit, then its better to do nothing...

[jackg]

oh, i got out with profit, i didnt wait in here all along, so i have a profit, and i want to make profit again, whats the point if no profit, then its better to do nothing...

From ROI or from the market? I made about 0.1BTC profit from the s7 market.

[Bamsed]

oh, i got out with profit, i didnt wait in here all along, so i have a profit, and i want to make profit again, whats the point if no profit, then its better to do nothing...

From ROI or from the market? I made about 0.1BTC profit from the s7 market.

Trading is quite risky. You might not win in the long term.

[jackg]

oh, i got out with profit, i didnt wait in here all along, so i have a profit, and i want to make profit again, whats the point if no profit, then its better to do nothing...

From ROI or from the market? I made about 0.1BTC profit from the s7 market.

Trading is quite risky. You might not win in the long term.

It's not that risky when you know what you're doing and you analyse the market well.

I'm not rleasing my secrets but there are a lot of ways to make profits using the market that are fairly risk free.

[mercedes321]

if no new machines and if LTC bottomed i dont expect lower lows for the hash of LTC and the same goes for BTC hash, its kinda fairly risk free at this level, bcs if BTC does the inverted H & S, or diamond bottom, we might see a decent bounce for cripto in general, but that doesnt mean some smaller caps coins will do less then the LTC + mining plus hashrate higher, but not to much more either.

[mercedes321]

so we did bounce with BTC and also LTC, as predicted so far, and what is even more nicely is that maintance vs profit droped from 86-88% to 52-55%, really nice, i will probably buy few more machines in coming month. i dont want to risk with tokens especially now that btc has proven that he is the one to not mess arround.

[Rogerdale]

so we did bounce with BTC and also LTC, as predicted so far, and what is even more nicely is that maintance vs profit droped from 86-88% to 52-55%, really nice, i will probably buy few more machines in coming month. i dont want to risk with tokens especially now that btc has proven that he is the one to not mess arround.

Too risky to buy. If difficulty goes up and price goes down, maintenance vs profit may go up higher 100%.

And more importantly S11 are coming up, so S9 may turn into a piece of junk soon.

[mercedes321]

actually also S7 was 1 year still mining after S9 arrived, and with more profitability then S9, bcs the price was cheaper on the market. BTC will go more up, it wont stop here, so i expect the maintance vs profit to be arround 30-40% in month to come, no problem more for us, p.s. ppl still mining with S9, alos more powerfull competitive asics, dont have such profit vs maintance ratio then the old S9, ...p.s. difficulty vs profit cant get higher in such a low time frame, btc is going parabolic to 16K, only if go below 5.6K then it will reach close to 100% maintance vs profit, but i dont see that with btc, look at monthly chart....for me its to risky to buy some alts then to mine btc, both is risky, but i found mining less risky, also pumping btc on margin is risky, maybe lending is not risky, almost no risky, or just holding...meanwhile it mines aprox 5.7% per month, who will pay me that in BTC, yes alts can do +10, +20 in a day, but look at them, totaly unhealty waiting btc next move.

[Rogerdale]

actually also S7 was 1 year still mining after S9 arrived, and with more profitability then S9, bcs the price was cheaper on the market. BTC will go more up, it wont stop here, so i expect the maintance vs profit to be arround 30-40% in month to come, no problem more for us, p.s. ppl still mining with S9, alos more powerfull competitive asics, dont have such profit vs maintance ratio then the old S9, ...p.s. difficulty vs profit cant get higher in such a low time frame, btc is going parabolic to 16K, only if go below 5.6K then it will reach close to 100% maintance vs profit, but i dont see that with btc, look at monthly chart....for me its to risky to buy some alts then to mine btc, both is risky, but i found mining less risky, also pumping btc on margin is risky, maybe lending is not risky, almost no risky, or just holding...meanwhile it mines aprox 5.7% per month, who will pay me that in BTC, yes alts can do +10, +20 in a day, but look at them, totaly unhealty waiting btc next move.

If it mines 5.7% per month it is definitely not worth to buy, it is 500+ days to ROI - too risky. Just hold BTC and be happy.

[mercedes321]

ok., here it comes, what if i can sell it for 3x more then it is now?, now 40GHS costs less then 0.5BTC, what if in 3 month it will cost 1.5BTC + 5.6 % per month., now we are talking about lets say 100+% profit?, no neo can do that, no iota, no nothing in 3 month, both are risky, neo can go down more / satoshi, not likely, same goes for many alts, can go down / satoshi, or can go crazy more up, my bet is they wont go crazy more up, bcs etf decision is about BTC ETF, not Alts ETF, but thats the bet i took, and ill stick to it, and if price of BIt goes crazy up, then it will become 8-9, if not 10-11% per month, bcs maintance goes down, and charts shows bull continuation, ofcourse it will be pullback soon, but trend is changing from bear to bull. if only 8.8K can be taken down, its trully confirmed.

[Rogerdale]

ok., here it comes, what if i can sell it for 3x more then it is now?, now 40GHS costs less then 0.5BTC, what if in 3 month it will cost 1.5BTC + 5.6 % per month., now we are talking about lets say 100+% profit?, no neo can do that, no iota, no nothing in 3 month, both are risky, neo can go down more / satoshi, not likely, same goes for many alts, can go down / satoshi, or can go crazy more up, my bet is they wont go crazy more up, bcs etf decision is about BTC ETF, not Alts ETF, but thats the bet i took, and ill stick to it, and if price of BIt goes crazy up, then it will become 8-9, if not 10-11% per month, bcs maintance goes down, and charts shows bull continuation, ofcourse it will be pullback soon, but trend is changing from bear to bull. if only 8.8K can be taken down, its trully confirmed.

"What if" is a pure gambling. Run Excel and calculate everything yourself. Hashnest is long forgotten after they denied to sell new asics, I doubt that anyone would go crazy here and buy contracts at 3x of the current price at no reason. I estimate 20% difficulty rise in a month - and that much (actually 2-2.5x faster) will drop your profit.