HASHNEST Discussion and Support Thread

[M8BWNNRFMNdak68c]

hashnest support is really slow..  here the information for the actual contract end:

First " UMISOO PPS Compensate maintenance" ( >100% ) was on
2015-08-19 04:18:53

so the contracts "AntS2" and "UMISOO" will probably end on
2015-08-29 04:00:00

you then can redeem the hardware. for every 1000 ghash you own, you can send one physical miner to your home: this will cost 50 USD fee and UPS costs ( 150 USD to europe they said ) for every miner. And don't forget the fun with customs.. ( maybe they want you to pay ~20% import taxes on the initial price of an S2 ? 2000 USD? ).. so i don't think anybody outside from china will do this??

on the same date,
"AntS3" will switch from PPLNS to PPS payout mode..

[ziomar]

hashnest support is really slow..  here the information for the actual contract end:

First " UMISOO PPS Compensate maintenance" ( >100% ) was on
2015-08-19 04:18:53

so the contracts "AntS2" and "UMISOO" will probably end on
2015-08-29 04:00:00

you then can redeem the hardware. for every 1000 ghash you own, you can send one physical miner to your home: this will cost 50 USD fee and UPS costs ( 150 USD to europe they said ) for every miner. And don't forget the fun with customs.. ( maybe they want you to pay ~20% import taxes on the initial price of an S2 ? 2000 USD? ).. so i don't think anybody outside from china will do this??

on the same date,
"AntS3" will switch from PPLNS to PPS payout mode..

This redeem system doesn't sound good 

[Tigggger]

This redeem system doesn't sound good  

Actually it could be a good opportunity for a few people but it will depend on a couple of factors, namely market price and your electricity rate.

If the contracts are terminated the prices will probably drop very low, then it's possible you might be able to buy a machine on the market for say $10, add $50 handling & $150 shipping is $210

That is profitable to run on 7c power (but barely), many people do pay less than that (or nothing)

It also may be possible that if you bought a large enough quantity bitmain might offer alternative shipping arrangements (eg pallets of them) to reduce that cost

[ziomar]

This redeem system doesn't sound good  

Actually it could be a good opportunity for a few people but it will depend on a couple of factors, namely market price and your electricity rate.

If the contracts are terminated the prices will probably drop very low, then it's possible you might be able to buy a machine on the market for say $10, add $50 handling & $150 shipping is $210

That is profitable to run on 7c power (but barely), many people do pay less than that (or nothing)

It also may be possible that if you bought a large enough quantity bitmain might offer alternative shipping arrangements (eg pallets of them) to reduce that cost

Got it!

[ziomar]

More than 6 hours and no bloks found  What is going on here 

[cesmak]

More than 6 hours and no bloks found  What is going on here 

Bad luck... sometimes happens.....

[ziomar]

More than 6 hours and no bloks found   What is going on here  

Bad luck... sometimes happens.....

did it happen before already like 7 hours like today?
The maintenace fee for these 7 hours must be crazy

[kevindurant]

UMISOO contracts looks very cheap. Are they still mining positive at this rate?

[Tigggger]

UMISOO contracts looks very cheap. Are they still mining positive at this rate?

No, and in 4 more days (unless there is a sudden spike in btc price) the contracts will be terminated

[kevindurant]

UMISOO contracts looks very cheap. Are they still mining positive at this rate?

No, and in 4 more days (unless there is a sudden spike in btc price) the contracts will be terminated

What happens when contracts terminated? Money back to UMISOO owners or something else?

[galdur]

No block found in over nine hours. This with like one sixth of world hashrate supposedly so probability about zero per cent.

[BitcoinNewsMagazine]

UMISOO contracts looks very cheap. Are they still mining positive at this rate?

No, and in 4 more days (unless there is a sudden spike in btc price) the contracts will be terminated

What happens when contracts terminated? Money back to UMISOO owners or something else?

Contracts are terminated and those who own UMISOO hash lose their investment unfortunately.

[cesmak]

More than 6 hours and no bloks found   What is going on here  

Bad luck... sometimes happens.....

did it happen before already like 7 hours like today?
The maintenace fee for these 7 hours must be crazy

Yes, happened, if i rembember well, in the past, one time passed half a day without a block, very rarely, but happened...

Yep maintenance will be a bomb.....

[galdur]

I can already see the headline in bitcoin news magazine.

Miracle Math. One sixth of the world,s hashrate fails to find a single block in ten going on twelve hours. Thought to portend the second coming of satoshi.

[ziomar]

I can already see the headline in bitcoin news magazine.

Miracle Math. One sixth of the world,s hashrate fails to find a single block in ten going on twelve hours. Thought to portend the second coming of satoshi.

I think they simply stop mining since the price of BTC get lower than 230 USD, just to collect the maintenance fees.
Of course it's just my opinion nothing more

[kevindurant]

UMISOO contracts looks very cheap. Are they still mining positive at this rate?

No, and in 4 more days (unless there is a sudden spike in btc price) the contracts will be terminated

What happens when contracts terminated? Money back to UMISOO owners or something else?

Contracts are terminated and those who own UMISOO hash lose their investment unfortunately.

What do you mean by "lose" their investment? No money back for those terminated contracts?
Anyway I think they will mine again as Bitcoin price is rising.

[Tigggger]

What do you mean by "lose" their investment? No money back for those terminated contracts?
Anyway I think they will mine again as Bitcoin price is rising.

Nothing back at all, they are sold as a contract that runs until 10 days have passed where maintenance fees are higher than income.

At the moment 6 days have gone by, bitcoin would need to reach ~$249 dollars in the next 4 days for them to continue, can't see that happening.

[kevindurant]

What do you mean by "lose" their investment? No money back for those terminated contracts?
Anyway I think they will mine again as Bitcoin price is rising.

Nothing back at all, they are sold as a contract that runs until 10 days have passed where maintenance fees are higher than income.

At the moment 6 days have gone by, bitcoin would need to reach ~$249 dollars in the next 4 days for them to continue, can't see that happening.

That's ridiculous man. If all UMISOO investors will lose their whole investments, that doesn't make any sense. Why don't people sell for whatever price now? It's better than lose them all.

[galdur]

I can already see the headline in bitcoin news magazine.

Miracle Math. One sixth of the world,s hashrate fails to find a single block in ten going on twelve hours. Thought to portend the second coming of satoshi.

I think they simply stop mining since the price of BTC get lower than 230 USD, just to collect the maintenance fees.
Of course it's just my opinion nothing more

The pool has been and is reporting about 67 ghs mining. And also reporting not finding a block since 6 am utc, likelihood zero.

[ziomar]

I can already see the headline in bitcoin news magazine.

Miracle Math. One sixth of the world,s hashrate fails to find a single block in ten going on twelve hours. Thought to portend the second coming of satoshi.

I think they simply stop mining since the price of BTC get lower than 230 USD, just to collect the maintenance fees.
Of course it's just my opinion nothing more

The pool has been and is reporting about 67 ghs mining. And also reporting not finding a block since 6 am utc, likelihood zero.

Can you kindly share with me these info please