HASHNEST Discussion and Support Thread

[wlefever]

If they hadn't put the S7 up so early before actually deploying it, the S4 and S5 market wouldn't be where it is right now.  S5 is a good short term buy (maybe even longer term if BTC price increases), and the S4 is getting riskier, and riskier but still not that bad atm.  The panic selling is real the last week.

wlefever (or anyone else who thinks the current price of the S4 or S3 is not bad) - Can you please tell me what calculation you are using that makes you say the current price of the S4 is not bad?  How do you arrive at that conclusion?

If you are looking at it in terms of standard ROI the S4 at it's current price is around 246 days, and will remain profitable as long as bitcoin price is not below $184 (yes obviously the difficulty has steadily risen, but not too fast that you can't make money with S4 or S5).  So why is it not a viable option until at least the S7 comes out? Does anyone really think bitcoin price is going sub $200 in the next month?

Every time I mention the S4 or S5 not being that bad I am talking in a short term window....if you want to buy and hold something on Hashnest, and not have to worry about bitcoin price fluctuations or becoming unprofitable do nothing with your coin until the S7 comes out.  Obivously ROI on a cloud mining service is going to be a moving target, and IMO has to be constantly analyzed.  Right now 1 TH/s of S5 still nets around .0038 and the S4 around .00176 per day at 100% luck, and will be slightly less after this adjustment.  Still profitable for the next few weeks unless the market keeps selling off like it has which obviously throws off any calculation you can make.  

Edit: As far as the S3 it is done on Hashnest very soon, but not a bad option for some to redeem as hardware so they still hold onto their Gh/s.

Wlefever, thank you for your response.  Let me just bring up a few things about what you said:
snip

1)The income is more than the maintenance so yes the miner is mining in profit.  But, yes I understand ROI isn't until you have sold and made more on your initial principal then you put in.

2)No the difficulty won't stay flat, but I don't think btc price will either.

3)That is easy to say as the panic selling continues, and I have to agree now since there are no signs of that changing before the S7 release.  The reason for the sell offs is everyones fear from UMISOO and S2 finishing, but the S5 is just not in that same boat in my eyes.  Obviously others are seeing it differently.

4).00176 was before the adjustment, yes it is .00148 now.  The markets have never just dropped day in and day out like they have right now, but yep you are right  with the current market conditions.

5)I should have clarified it would mainly be a benefit for those living in China.

For what it is worth I was trying to see why the S4 and S5 should work, but with the daily sell offs I will agree with you about the S4. I still think the S5 is oversold and far from its EOL. 

[galdur]

I was in this for two months recently and most likely will be back in later.

It´s a good and transparent service but you need to put in quite some work if you have a meaningful amount of money there, first to protect your principal and second to get some profits. My strategy was simple; reinvest earnings and try to time sells and then wait for someone to dump into my low bids. In other words focus on beating down the average. But it was too time consuming and I gave up on it and cashed out. If by some miracle bitcoin gets some meaningful volume and buying interest and gets out of the dumps it´ll be much easier and then I´ll be back in.

[lama-hunter]

Iam doing no Profit right now at Hashnest

[lama-hunter]

escpecially u have to pay for the Service.

over 10k satoshi maintance for 188gh/s of hashing Power. See Below.



regards
lama-hunter

[galdur]

escpecially u have to pay for the Service.

over 10k satoshi maintance for 188gh/s of hashing Power. See Below.



regards
lama-hunter

Their pool luck seemed to go to rot after Aug. 25 (the day bitcoin stopped its month-long cratering and the current still ongoing and rather unconvincing bounce started) and two weeks later I was too tired of it to continue and cashed out.

[BitcoinNewsMagazine]

Daily charts in Hashnest showed price began a decline back at end of August, warning that it was time to sell, when MA5 crossed over MA15 and persisted:



There was a second more urgent warning when the big drop happened early September. Probably due to investors nervous about the upcoming S6/S7. There was fair warning that it was time to exit your S5 positions.

[galdur]

Certainly there was fair warning. Like I said earlier this kind of investment requires work and diligence. It´s hopeless to just sit and watch the hash, you need to trade.

I didn´t have very much to show for my two months there but that was solely due to my not being a good enough trader and/or not having time enough for it. It was fun, I´ll be back later in all likelihood.

[Futune]

OMg I just noticed that my mining payout for each block can go into negative!? Is anyone also experiencing this? My maintenance fee suddenly shot up from ~0.004 to 0.011btc, is this even possible? Or is it due to super bad luck in finding blocks?

[DebitMe]

OMg I just noticed that my mining payout for each block can go into negative!? Is anyone also experiencing this? My maintenance fee suddenly shot up from ~0.004 to 0.011btc, is this even possible? Or is it due to super bad luck in finding blocks?

It is possible, and happens pretty often.  The longer a block takes to find, the higher your maintenance fee will be for that block.  I don't know what the breakeven point per block is at this point (Its different with each type of hash), but I am sure someone could tell you after some quick math.

[pumawolf]

today might go down as the worst mining day in the history of mining. i dont think this will ever be topped.

[kotwica666]

today might go down as the worst mining day in the history of mining. i dont think this will ever be topped.

Not only worst day.. it looks like closing door.. I try to sell my last positions with S4 and .. nothing - HashNest is sleeping. I already lost more than 1 BTC in two weeks in the most trustworthy service. It changing my opinion about BTC.

Well done HashNest!

Edit/ it is not about prices.. i cant even sell my GHS. They block that..

[crazyivan]

today might go down as the worst mining day in the history of mining. i dont think this will ever be topped.

Not only worst day.. it looks like closing door.. I try to sell my last positions with S4 and .. nothing - HashNest is sleeping. I already lost more than 1 BTC in two weeks in the most trustworthy service. It changing my opinion about BTC.

Well done HashNest!

Edit/ it is not about prices.. i cant even sell my GHS. They block that..

The fact you mismanage your investments changes your opinion about BTC??

I say you need to take care your investments better, BTC and Hashnest s got nothing do to with that. Dont play with cloud mining if you re unable to follow the situation.

[DebitMe]

today might go down as the worst mining day in the history of mining. i dont think this will ever be topped.

Not only worst day.. it looks like closing door.. I try to sell my last positions with S4 and .. nothing - HashNest is sleeping. I already lost more than 1 BTC in two weeks in the most trustworthy service. It changing my opinion about BTC.

Well done HashNest!

Edit/ it is not about prices.. i cant even sell my GHS. They block that..

The fact you mismanage your investments changes your opinion about BTC??

I say you need to take care your investments better, BTC and Hashnest s got nothing do to with that. Dont play with cloud mining if you re unable to follow the situation.

Yea thats sort of what I was thinking as well.  Don't understand the market/blindly invest because it looks like a really good investment and then getting mad at Hashnest about losing money is backwards.  Yes you can be upset that the order book wasn't working correctly, but that isn't what caused you to lose money, in fact it probably saved you because the price was nose diving, and what happens in stock markets when that happens?  They shut them down to save from irrational investors.

Take this as an opportunity to learn from your own mistakes and fully read and understand how the assets work before investing.  Don't come back and say you did, because otherwise you would have known that they were overvalued and would crash at some point.

[kotwica666]

today might go down as the worst mining day in the history of mining. i dont think this will ever be topped.

Not only worst day.. it looks like closing door.. I try to sell my last positions with S4 and .. nothing - HashNest is sleeping. I already lost more than 1 BTC in two weeks in the most trustworthy service. It changing my opinion about BTC.

Well done HashNest!

Edit/ it is not about prices.. i cant even sell my GHS. They block that..

The fact you mismanage your investments changes your opinion about BTC??

I say you need to take care your investments better, BTC and Hashnest s got nothing do to with that. Dont play with cloud mining if you re unable to follow the situation.

I belive in Bitcoin.

But your words just confirm that all around is just clear speculation.. So - YES it is not place for me!

Ps. Sorry that i wrote "change opinion about BTC" .. im still in..

[yeponlyone]

Only 326 PACMiC v3s left all the sudden; are people dumping GHS and buying time-limited PACMiC's...? I bought some anyways.

Anyone with an idea of what will follow v3?

[wlefever]

Only 326 PACMiC v3s left all the sudden; are people dumping GHS and buying time-limited PACMiC's...? I bought some anyways.

Anyone with an idea of what will follow v3?

Yeah, it does seem like people that dumped their GHs are moving into the PACMiC before it runs out, and v4 is unknown.  I would think there will be a v4 somehow involving the S7 potentially?  

[DebitMe]

Only 326 PACMiC v3s left all the sudden; are people dumping GHS and buying time-limited PACMiC's...? I bought some anyways.

Anyone with an idea of what will follow v3?

Yeah, it does seem like people that dumped their GHs are moving into the PACMiC before it runs out, and v4 is unknown.  I would think there will be a v4 somehow involving the S7 potentially?  

It would seem like pretty good timing to run out of the V3 in the next week sometime, then have a week off before the V4 comes out using the S7 as the base, which is about when it will be released for the GH/s asset.

Now pricing and speed is the unknown, it will be interesting to see what they go for, but I can see something very similar to V1 being offered again.

[ajw7989]

I think people are dumping S5 for some reason like crazy. Hurts people like me that are holding but I dont know why. S7 pricing is not that amazing. I could see dumping S3 GH and getting worried of S4 but S5 has a long way to go before its done.

[wlefever]

I think people are dumping S5 for some reason like crazy. Hurts people like me that are holding but I dont know why. S7 pricing is not that amazing. I could see dumping S3 GH and getting worried of S4 but S5 has a long way to go before its done.

That has been my argument the entire time.  I don't really know what they were looking at when comparing the S5 and S7, and thinking the S7 is some miracle miner. Yes, the specs are impressive but it isn't any better priced than the S5 is.  Other than hopes of the market price being higher than the shop price which isn't a guarantee.  I too hold S5 (5 Th/s), and while i'm not under water I am treading just slightly at these prices.  

I think the dump was a combination of UMISOO, S2 going offline, and the S3 now close behind. Along with the difficuty increases looking like 4+% each period with no change in btc price.  

Any increase in btc price, or a few somewhat flat difficulty adjustments, and the S5 dump looks a little foolish for some.  Then again others have held for many months, and getting out now works for them.

[DebitMe]

Personally, I would like to see a range of PACMiC's offered at various prices.  This would allow the bigger spenders to get discounts on larger orders and allow the smaller players to play as well.  I understand this is probably not worth it to Hashnest, as a loan of .2 btc isn't very much, but I would imagine an influx of new users buying into the lower costing contracts could provide an influx of capital for them.  Although, it will probably only lead to more complaints and questions from newbies not understanding what they are doing, which would probably have the opposite effect of what Hashnest wants.