HASHNEST Discussion and Support Thread

[Wings1987]

Anyone keen on seeing automatic withdrawals??

It would be beneficial in my eyes.

It makes the system more vulnerable to a hack.


Hash owners being responsible for their own account is better in my eyes.

How, exactly?

As I see it, the only response seen from Bitmain about this is "it's in our interest to keep your money here" which really leads me to believe there could be a fractional reserve kinda thing going on.

If someone gains access to the database they can change the withdrawal addresses. With manual withdrawal you are responsible to verify the address and hopefully everyone is using 2FA.

[Tathata]

We than need a "Lock Address" option. Always a way to have it our way.

[BITMAIN_Janet]

We than need a "Lock Address" option. Always a way to have it our way.

If you want to lock withdrawal address, may submit a ticket to request "lock" it, we can set it in the back-end.
 

[valkir]

Sorry dont want to read the last 101 pages 

Umisoo or S5 ?? Which one is the best invest in your opinion ?

I guess the new contract is better.

[basedjones]

Sorry dont want to read the last 101 pages 

Umisoo or S5 ?? Which one is the best invest in your opinion ?

I guess the new contract is better.

I think payout is better with S5 but don't quote me on it.

[basedjones]

Glad to see hashnest back up and running like a champ. Keep up the good work Bitmain!

[Wings1987]

Sorry dont want to read the last 101 pages 

Umisoo or S5 ?? Which one is the best invest in your opinion ?

I guess the new contract is better.

You will get 100 opinions on this.

My take - if you believe BTC will continue to go up - UMISOO is best buy.


If you believe BTC price will go below $200 and stay there for a while. Why are you going to invest in overpriced cloud mining?

Price for S3,S4,S5 is way to high for the lower maint cost in my opinion. I purchased a truckload of Umisoo over the last 3 months. So far very happy with my purchase but ask me 3 months from now if it was the right call.

[Deckard Cain]

Question: How do I set up a sms authentication, where I receive a text code to log in or make profile changes, similar to what CEX.io has. I see I get an option in my profile, to do something with "get code" and "Binding" does this feature do that? or briefly explain how that works if someone can.

THX
DC  

[Deckard Cain]

Sorry dont want to read the last 101 pages 

Umisoo or S5 ?? Which one is the best invest in your opinion ?

I guess the new contract is better.

You will get 100 opinions on this.

My take - if you believe BTC will continue to go up - UMISOO is best buy.


If you believe BTC price will go below $200 and stay there for a while. Why are you going to invest in overpriced cloud mining?

Price for S3,S4,S5 is way to high for the lower maint cost in my opinion. I purchased a truckload of Umisoo over the last 3 months. So far very happy with my purchase but ask me 3 months from now if it was the right call.

I have been buying up S4 hashing, It seems to have more positive payouts after maintenance fees...... I am considering buy either S5 or perhaps UMISOO not sure which would be best lol, but I like the 200.00 BTC threshold in your example  Just thinking out loud after reading your post....

[crazyivan]

Sorry dont want to read the last 101 pages 

Umisoo or S5 ?? Which one is the best invest in your opinion ?

I guess the new contract is better.

You will get 100 opinions on this.

My take - if you believe BTC will continue to go up - UMISOO is best buy.


If you believe BTC price will go below $200 and stay there for a while. Why are you going to invest in overpriced cloud mining?

Price for S3,S4,S5 is way to high for the lower maint cost in my opinion. I purchased a truckload of Umisoo over the last 3 months. So far very happy with my purchase but ask me 3 months from now if it was the right call.

I have been buying up S4 hashing, It seems to have more positive payouts after maintenance fees...... I am considering buy either S5 or perhaps UMISOO not sure which would be best lol, but I like the 200.00 BTC threshold in your example  Just thinking out loud after reading your post....

You need to put difficulty growth into calculation as well. If fees on Umisoo take 85% of your payouts for example and the diff goes up 5%, it s gonna be close to 90%. So basically, even if the price stays the same but diff goes up, these less efficient miners might get shut down. Unless you expect significant BTC jump which s possible, one can never know.

[ajw7989]

You can make the most profit with UMISOO but obviously it is very risky. Unless you have a strong feeling that difficulty will either plateau or start decreasing or bitcoin's price will increase and stabilize do not invest in it. Its cheap for a reason because it will become unprofitable if many unfavorable likely circumstances take place.

[cesmak]

UMISO in the last weeks had a lot of negative days in profit, for me it's at the end, i've sold out all umiso power amd bought S3, in the last days, no one day with negative balance....

This is my personal opinion.....

[Wings1987]

Sorry dont want to read the last 101 pages 

Umisoo or S5 ?? Which one is the best invest in your opinion ?

I guess the new contract is better.

You will get 100 opinions on this.

My take - if you believe BTC will continue to go up - UMISOO is best buy.


If you believe BTC price will go below $200 and stay there for a while. Why are you going to invest in overpriced cloud mining?

Price for S3,S4,S5 is way to high for the lower maint cost in my opinion. I purchased a truckload of Umisoo over the last 3 months. So far very happy with my purchase but ask me 3 months from now if it was the right call.

I have been buying up S4 hashing, It seems to have more positive payouts after maintenance fees...... I am considering buy either S5 or perhaps UMISOO not sure which would be best lol, but I like the 200.00 BTC threshold in your example  Just thinking out loud after reading your post....

You need to put difficulty growth into calculation as well. If fees on Umisoo take 85% of your payouts for example and the diff goes up 5%, it s gonna be close to 90%. So basically, even if the price stays the same but diff goes up, these less efficient miners might get shut down. Unless you expect significant BTC jump which s possible, one can never know.

Yes and I have done that. I am banking on a nice increase in BTC price but of course that could be completely wrong. Also keep in mind anyone who has been purchasing Umisoo over the last few months has done so at a much lower cost than it is currently. The price touched .000099 /GH briefly.

But I do stand by my original statement. If you think BTC price will stay where it is why are you purchasing cloud mining? All versions of Hashnest are overpriced at the current BTC price. You are well over 200 days ROI on everything.

[valkir]

Is it me or I paid more for maintenance than what I got ??


Its umisoo and I never had this problem with S5. Wanted to test umisoo not sure I will stay.

Can someone explain?

Actually, this block Mining Block# 349326  make me lost BTC Not normal

[chunkyjunkie]

Is it me or I paid more for maintenance than what I got ??


Its umisoo and I never had this problem with S5. Wanted to test umisoo not sure I will stay.

Can someone explain?

Actually, this block Mining Block# 349326  make me lost BTC Not normal

Maintenance on umisoo is 85%+ depending on price of btc/usd.

If Hashnest has any bad luck you can easily pay more then what it makes.  

Also if Hashnest has a very good luck streak you would make more per btc invested owning umisoo.

Now, I am not sure if we had bad luck lately or it had to do with the ddos attacks but hashnest says we had no downtime so it had to be bad luck I guess and yes with the horrible days we had recently finding blocks umisoo would have easily been negative returns.

Last few days has been normal average luck for hashnest so if there were problems they might have been resolved.  Yes, we still have 4 hours without a block but on average is looks to be normal again if it wasn't just bad luck before.

Ant s5 for example cost a lot more then umisoo but I believe we need about a 2 and a half hour block at current levels to make blocks negative ( would take extremely bad luck to make the day negative owning s5. )  However, that doesn't mean s5 is better then umisoo, it doesn't mean umisoo is better then s5 or s3 etc... there are a lot of factors you need to watch.

Maintenance is paid for in USD, or at least traditional currency, so when btc/usd goes down it gets more expensive to run and maintenance is more per block for electricity.  So for example if btc/usd started to approach 220 or so maintenance on umisoo might go to 100% or above.  They do take machines offline if maintenance goes above 100% and you lose everything if they are over 100% maintenance for 10 days.  ( Be sure to read up on the latest policy of what happens when units go above 100% maintenance there are a lot of things involved including being able to redeem ghs for units but pay shipping etc. )

Another huge variable is difficulty of the network.  It has obviously stopped going up 20% every other week but it is still a major factor now that btc/usd prices have also stabilized.  Even a few % in difficulty adjustments up or down can mean a lot to your profits especially if you are buying cloud units like umisoo that have very little room between current maintenance and 100%.  But of course you can buy a lot more units per btc.

If anyone has any questions I would gladly do my best to answer or link you to more clear explanations.

Good luck

[valkir]

Thanks you very much for the explanation.

I now understand way more how the service work. 

[DebitMe]

I have been reviewing the different options for buying hash power on Hashnest and have come to the conclusion that besides the PACMiC, it is not really worth it to buy hashpower.  I base this decision on too many factors to explain here (and people should do their own due diligence and math anyway), but just thought I would share my opinion.

I also wanted to highlight the number one reason I don't think its worth it to buy hashpower, and that is the redemption of the units at the end.  Not the fact that you can get the units shipped to you, in fact that is one reason it is a great option, but the fees involved.  Let me explain...

If I were to buy hashpower, I would want to get back to almost even or a little under what i paid for it while it was still profitable to run.  Currently, at the prices provided, this is about do able in my opinion.  But then I would want the unit shipped to me to more than likely sell on amazon or ebay and recoup the rest of my return and get my profit.  Of course this is an option, but you will be taking a loss.  Reading through the ToS, it looks like I will be charged a $50 handling fee for requesting my unit to be shipped to me, then I have to pay shipping costs as well, which will probably be around 40 to 50 dollars on top of that.  If we look at the S3 as an example, currently going for around $100 to maybe $120 on third party sites (even less on these forums), we see that the cost of the unit is eaten up by shipping and handling fees, which will ultimately give me a loss.

So after all my math, I have figured I will be a little short on getting my full balance back by buying hash power, then I will not recoup the rest of my money by selling the unit, which ultimately makes this a bad buy (again in my opinion).  Please also note, the same math and situations apply to all units currently on Hashnest.  

This is just my opinion, it should be taken with a grain of salt and you should do your own math to formulate what works best for you.  Currently I believe the PACMiC is a great buy (and I have been continuously adding to the number of those I own.  My yearly return is currently close to 20% (i expect that to go up with reinvestment of dividends), but the trick is finding the right point to change your auto rebuy feature to, "Off".  I currently think that it can stay to reinvest for about another 2 months (give or take and that will change in time due to bitcoin price and difficulty changes), if it gets to about a month I will probably switch it over, just to be on the safe side.

[TracerX]

.... My yearly return is currently close to 20% (i expect that to go up with reinvestment of dividends), but the trick is finding the right point to change your auto rebuy feature to, "Off".  I currently think that it can stay to reinvest for about another 2 months (give or take and that will change in time due to bitcoin price and difficulty changes), if it gets to about a month I will probably switch it over, just to be on the safe side.

I've decided to turn the rebuy feature on when the diff is moving down, and turn it off when the estimated diff begins to rise again.  I currently have them off!

Thanks for the concise evaluation, and good luck!

[Minerjoe]

Sorry dont want to read the last 101 pages 

Umisoo or S5 ?? Which one is the best invest in your opinion ?

I guess the new contract is better.

You will get 100 opinions on this.

My take - if you believe BTC will continue to go up - UMISOO is best buy.


If you believe BTC price will go below $200 and stay there for a while. Why are you going to invest in overpriced cloud mining?

Price for S3,S4,S5 is way to high for the lower maint cost in my opinion. I purchased a truckload of Umisoo over the last 3 months. So far very happy with my purchase but ask me 3 months from now if it was the right call.

I have been buying up S4 hashing, It seems to have more positive payouts after maintenance fees...... I am considering buy either S5 or perhaps UMISOO not sure which would be best lol, but I like the 200.00 BTC threshold in your example  Just thinking out loud after reading your post....

You need to put difficulty growth into calculation as well. If fees on Umisoo take 85% of your payouts for example and the diff goes up 5%, it s gonna be close to 90%. So basically, even if the price stays the same but diff goes up, these less efficient miners might get shut down. Unless you expect significant BTC jump which s possible, one can never know.

Yes and I have done that. I am banking on a nice increase in BTC price but of course that could be completely wrong. Also keep in mind anyone who has been purchasing Umisoo over the last few months has done so at a much lower cost than it is currently. The price touched .000099 /GH briefly.

But I do stand by my original statement. If you think BTC price will stay where it is why are you purchasing cloud mining? All versions of Hashnest are overpriced at the current BTC price. You are well over 200 days ROI on everything.

True. But again, do you really see any other BTC related investment that s legit and can provide ROI at all? 200 days s not so bad in any other industry.

[DebitMe]

Does autorebuy feature not work when PACMiC is sold out?  I have been getting principle back all day.