HASHNEST Discussion and Support Thread

[TracerX]

Hi,Im thinking about starting to use this service.I have a budget of 220 dollars.How much would I make daily with that?Monthly?And if this is a bad service what is a good service?

Current ROI is about 220-280 days or about 0.4% daily yield depending on type of contract you buy - look here: http://nextdifficulty.com/#roi

Cheers for this link!

[crazyivan]

Hi,Im thinking about starting to use this service.I have a budget of 220 dollars.How much would I make daily with that?Monthly?And if this is a bad service what is a good service?

Current ROI is about 220-280 days or about 0.4% daily yield depending on type of contract you buy - look here: http://nextdifficulty.com/#roi

Cheers for this link!

Yes, this is the ROI. Also, this is taking into account ideal lab conditions, no significant diff growth or increase of fees.

[chunkyjunkie]

OK, thanks for the help guys.  I assumed a new model would arrive soon.

To hasnest:

On your order page for buying the s5, it lists a maintenance fee by the machine.  However when you read down below it says that there are no maintenance fees, but there is an electricity cost.  I assume that the cost of electricity is what you mean by the maintenance fee, but its confusing.  Also much of your site is translated poorly into English.  It gives your site an unprofessional feel that makes me a little nervous.  You have a great reputation and I am not saying anything fishy is going on, but it may look like a scam site to a casual observer due to the poor translation.

Also Always do a quick check of the market price for s5 vs the shop price of s5 per gh.

You will wait up to 72 hours if you buy from the shop for your ghs to be credited to your account vs getting it right away on the market.

However, sometimes it is much better to buy on the market and sometimes much better to buy from the shop as people don't understand the 2 options. 

To get the shop price of per gh just take the bitcoin price ( they have listed, and yes it changes with changes in the usd/btc price... if usd/btc price goes down they charge more btc to equate to 390 usd and visa versa ) and divide by how many gh an s5 unit gives ( 1155 gh )

For example at this very moment the hashnest shop price 1.64 btc per s5 divided by 1155 gh gives a per gh price of .00141 which is much cheaper then the market atm.  In my opinion it is enough of a difference that it is probably better to buy from the shop at the moment then on the overpriced open market.

Remember though btc/usd changes fast and you will wait 72 hours to get your account credited 1155 gh per s5 unit bought.  Then again it could go the other way as well and you will have got an even better deal should the btc usd price go lower.


That is why when btc/usd prices go up the amount of btc you pay for s5 unit goes down ( gets cheaper ) and the market tends to drop.  On the reverse if btc/usd goes down then the units cost more btc to equal 390 usd and the s5 open market tends to go up.   

The point is take advantage of when the people who don't understand what they own and how everything works are paying too much or the open market has a deal compared to the shop.   It is especially nice when the open market price is cheaper then the shop price because you are getting a discount to what the market should be at and you are getting your ghs immediately.

Anyways, good luck...

[Buttknuckle]

Thanks so much chunky for taking the time to educate me.  Most noobs might not appreciate the value of your advice.

[TracerX]

For example at this very moment the hashnest shop price 1.64 btc per s5 divided by 1155 gh gives a per gh price of .00141 which is much cheaper then the market atm.  In my opinion it is enough of a difference that it is probably better to buy from the shop at the moment then on the overpriced open market.

Is there an arbitrage opportunity here?  When BM credits the 1155 GHS to my account, does it then become de-coupled from the hardware; i.e. could I then sell those credited GHS on the open market as individual shares?

Cheers.

[chunkyjunkie]

For example at this very moment the hashnest shop price 1.64 btc per s5 divided by 1155 gh gives a per gh price of .00141 which is much cheaper then the market atm.  In my opinion it is enough of a difference that it is probably better to buy from the shop at the moment then on the overpriced open market.

Is there an arbitrage opportunity here?  When BM credits the 1155 GHS to my account, does it then become de-coupled from the hardware; i.e. could I then sell those credited GHS on the open market as individual shares?

Cheers.

Yes, after 72 hours your account gets credited 1155 gh on the ant5 market.  

You can then do whatever you want with those 1155 ant 5 gh on the open market.  They are de-coupled from the physical miner like you said.

I imagine you could still redeem your physical s5 unit in the future per 1155 gh you owned similar to what they did with the old s2 units provided you pay shipping ( which can be cost prohibitive in some cases ).  Again, guessing.. not sure the exact policy on the s5 and redeeming.

Edit - To answer your question on arbitrage there is indeed an opportunity when the shop price is a lot lower then the market.  Just be sure to remember you will wait 72 hours to get those 1155 gh into your account and a lot can change in 72 hours.  Also remember some people are probably doing the same thing....  Lastly, also take notice of the amount of s5 available in the shop ( I think it is currently 500 left ).  They have run out in the past but then added 2000 more units to sell.  You just never know when they will add a ton more supply or all of a sudden have none left to sell.

******** Note ******  per the main bitmaintech site that sells hardware direct there is this note under the antminer s5 batch 5

A limited quantity of units will be sold in this batch. This is the last round of production for AntMiner S5, and Batch 5 will be the second-to-last batch of S5 units to be sold.

******************

Now, bitmain has been known to all of a sudden have a ton more supply of something that looked like it was about to be gone...  So you never know.  However, In my opinion the next antminer s6 might be out soonish ( like this summer )  So they very well could be stopping the production cycyle for the s5 soon like they stated above...

When I say soon I have no way of knowing when... 2 weeks - 4 months...

[chunkyjunkie]

Thanks so much chunky for taking the time to educate me.  Most noobs might not appreciate the value of your advice.

You are most welcome...

If you have any other questions, I would be happy to answer them here or point you to links that would help you understand better any questions you might have.

After you really get into understanding how it all works it is a lot easier to understand why things move the way they do.

Also understanding difficulty adjustments every 2000 blocks ( or about 11 days ) is another huge factor in prices...

Again, my pleasure and good luck!

[chunkyjunkie]

hmm did a small withdrawal and stuck auditing

Maybe the hot wallet needs some bitcoin added?

2015-05-15 18:00:49 UTC   ฿0.13753      Auditing

[TracerX]

For example at this very moment the hashnest shop price 1.64 btc per s5 divided by 1155 gh gives a per gh price of .00141 which is much cheaper then the market atm.  In my opinion it is enough of a difference that it is probably better to buy from the shop at the moment then on the overpriced open market.

Is there an arbitrage opportunity here?  When BM credits the 1155 GHS to my account, does it then become de-coupled from the hardware; i.e. could I then sell those credited GHS on the open market as individual shares?

Cheers.

Yes, after 72 hours your account gets credited 1155 gh on the ant5 market.  

You can then do whatever you want with those 1155 ant 5 gh on the open market.  They are de-coupled from the physical miner like you said.

I imagine you could still redeem your physical s5 unit in the future per 1155 gh you owned similar to what they did with the old s2 units provided you pay shipping ( which can be cost prohibitive in some cases ).  Again, guessing.. not sure the exact policy on the s5 and redeeming.

Edit - To answer your question on arbitrage there is indeed an opportunity when the shop price is a lot lower then the market.  Just be sure to remember you will wait 72 hours to get those 1155 gh into your account and a lot can change in 72 hours.  Also remember some people are probably doing the same thing....  Lastly, also take notice of the amount of s5 available in the shop ( I think it is currently 500 left ).  They have run out in the past but then added 2000 more units to sell.  You just never know when they will add a ton more supply or all of a sudden have none left to sell.

******** Note ******  per the main bitmaintech site that sells hardware direct there is this note under the antminer s5 batch 5

A limited quantity of units will be sold in this batch. This is the last round of production for AntMiner S5, and Batch 5 will be the second-to-last batch of S5 units to be sold.

******************

Now, bitmain has been known to all of a sudden have a ton more supply of something that looked like it was about to be gone...  So you never know.  However, In my opinion the next antminer s6 might be out soonish ( like this summer )  So they very well could be stopping the production cycyle for the s5 soon like they stated above...

When I say soon I have no way of knowing when... 2 weeks - 4 months...

Thanks for this info, it's ultra-helpful.  Can I changetip you a beer somewhere?

[chunkyjunkie]

Tracerx,

Thanks!  Appreciate it but that is ok I don't need the money   Can use it to tip the next guy that might need it more then me.

However, tonight when I go disc golfing and metal detecting I will knock one back for yah

Anything I can do to help in the future please feel free to ask.  If I  know the answer I would be happy to explain..

[TracerX]

Tracerx,

Thanks!  Appreciate it but that is ok I don't need the money   Can use it to tip the next guy that might need it more then me.

However, tonight when I go disc golfing and metal detecting I will knock one back for yah

Anything I can do to help in the future please feel free to ask.  If I  know the answer I would be happy to explain..

You, sir, are a gentleman and a scholar.  Enjoy your evening!

[jdebunt]

hmm did a small withdrawal and stuck auditing

Maybe the hot wallet needs some bitcoin added?

2015-05-15 18:00:49 UTC   ฿0.13753      Auditing

A friend of mine had the same issue, it got resolved within 24 hours

[chunkyjunkie]

hmm did a small withdrawal and stuck auditing

Maybe the hot wallet needs some bitcoin added?

2015-05-15 18:00:49 UTC   ฿0.13753      Auditing

A friend of mine had the same issue, it got resolved within 24 hours

Yeah not happy, still auditing.. everyone is having the same problem.

Doesn't make me confident not able to withdraw btc for this long.. hope it gets resolved soon, will keep post updated.

[camsarria]

Had this issue on the easter weekend; took a day to get sorted

[chunkyjunkie]

Had this issue on the easter weekend; took a day to get sorted

Thanks, yes someone else mentioned the same above 24 hours.

I am not sure that should be acceptable practice on their part though...

Edit- Well, it looks like they are just random audits.

Did another test withdrawal for .011 btc and it went through.  So they just have my .13 btc hostage at the moment

[crazyivan]

Had this issue on the easter weekend; took a day to get sorted

Thanks, yes someone else mentioned the same above 24 hours.

I am not sure that should be acceptable practice on their part though...

Edit- Well, it looks like they are just random audits.

Did another test withdrawal for .011 btc and it went through.  So they just have my .13 btc hostage at the moment

It probably happens when somebody makes a large withdrawal and empties their hot wallet. This is a standard practice, you cannot expect them to hold large number of BTC in their hot wallet.
They always fix it as they did this time.

[chunkyjunkie]

Had this issue on the easter weekend; took a day to get sorted

Thanks, yes someone else mentioned the same above 24 hours.

I am not sure that should be acceptable practice on their part though...

Edit- Well, it looks like they are just random audits.

Did another test withdrawal for .011 btc and it went through.  So they just have my .13 btc hostage at the moment

It probably happens when somebody makes a large withdrawal and empties their hot wallet. This is a standard practice, you cannot expect them to hold large number of BTC in their hot wallet.
They always fix it as they did this time.

I understand and that was my first thought.  However, a bunch of people had transactions stuck auditing but were able to make withdrawals after while the previous one was stuck auditing.
Anyways the stuck one cleared over night.

[Tupsu]

I am sure, an S5 market trades  trading robot.  Are they allowed here ?

Hi, Bitmain and BitmainWarranty, BITMAIN_LCXU, BITMAIN_XLXUE, BITMAIN_JLXUE, BITMAIN_Janet

Waiting for a reply.

Do tradebots is here  allowed or not ?

[chmick]

I am sure, an S5 market trades  trading robot.  Are they allowed here ?

Hi, Bitmain and BitmainWarranty, BITMAIN_LCXU, BITMAIN_XLXUE, BITMAIN_JLXUE, BITMAIN_Janet

Waiting for a reply.

Do tradebots is here  allowed or not ?

It seems to be when you look at the open order  table.

Thing I don't understand is how do the succeed to get from the api the list of open order on the market ?? (there is nothing about this in the api doc https://www.hashnest.com/hashnest_api )

[chunkyjunkie]

New error when trying to withdraw


The change you wanted was rejected.

Maybe you tried to change something you didn't have access to.

If you are the application owner check the logs for more information.

Edit tried different browsers, clearing cache etc....  Also looks like other people in chat are having same problems.