HASHNEST Discussion and Support Thread

[crazyivan]

I have to say I d expect some news about 16nm from Hashnest as well. Cause if diff continues galloping this way and block halves, there s no ASIC that would be profitable. I refuse to believe they would simply shut down their farms and wait for difficulty to go down again.

They definitely won't shut down their farms because they are mining at some of the cheapest electricity rates available anywhere. It is not the amount they charge on Hashnest that is for sure, and they are the ones flooding the network with more hash right now anyways so it would be their own fault.

Lets do a bit of of math. S7, the most efficient ASIC ATM is at around 40% at hashnest. When block halves, this will be 80%, taking constant BTC price into account. We have 5 more months till halving, diff jumps at about 30% per month minimum. This means S7 goes way over 100% and gets shut down for cloud mining. They can continue mining at slim profits without cloud but this is also very questionable. All in all, unless BTC doubles, lots of miners will have to shut down and get replaced by more efficient ones.

[Matias]

Lets do a bit of of math. S7, the most efficient ASIC ATM is at around 40% at hashnest. When block halves, this will be 80%, taking constant BTC price into account. We have 5 more months till halving, diff jumps at about 30% per month minimum. This means S7 goes way over 100% and gets shut down for cloud mining. They can continue mining at slim profits without cloud but this is also very questionable. All in all, unless BTC doubles, lots of miners will have to shut down and get replaced by more efficient ones.

I don't think difficulty keeps rising that fast, if most miners are below water. What is the point to add current generation miners, if you are not profitable.

When more efficient hardware comes, that is of course a different story.

[skuser]

Let's do the math and do not mix hashnest case with real efficiency. If bitmain or whoever has access to cheap electricity, say 3 cents/kWh, they can have 150 days ROI even at 1.7 exahash (about 250mil diff). At 1 cent/kWh the breakeven hashrate is at 2 exahashes.

So the hashnest will have to go down (at charged 0.09 USD/kWh) but it in doesn't mean miners should be physically shut down.

edit: I am talking about S7

[Matias]

S4 redemption period is on

https://enforum.bitmain.com/bbs/topics/2847

You can't anymore sell your hashrate is hashnest.

If someone wants to sell his S4 account to me, PM me. I'm only interest about redemptin one S4. Escrow ok.

Edit: it cost more than 400 USD to ship ONE S4. Forget it.

[lumeire]

S4 redemption period is on

https://enforum.bitmain.com/bbs/topics/2847

You can't anymore sell your hashrate is hashnest.

If someone wants to sell his S4 account to me, PM me. I'm only interest about redemptin one S4. Escrow ok.

Edit: it cost more than 400 USD to ship ONE S4. Forget it.

Is that with all the taxes and stuff? I'm looking to get 1 too. It's a used one why does it cost too much?

[adaseb]

Did anybody get this earlier today

At 2016-02-15 09:46:02 UTC your account was from an unkown IP address.The details are listed below:

Action Type: Web login
Browser: Chrome
Platform: windows
IP Adress: 108.162.246.166
Location: United States; Washington; Seattle

If this wasn't you, please report this as a suspicious login and change your password immediately.

Thanks for your support

Regards,
Bitmain HashNest Team

[D4RK5T4R]

Did anybody get this earlier today

At 2016-02-15 09:46:02 UTC your account was from an unkown IP address.The details are listed below:

Action Type: Web login
Browser: Chrome
Platform: windows
IP Adress: 108.162.246.166
Location: United States; Washington; Seattle

If this wasn't you, please report this as a suspicious login and change your password immediately.

Thanks for your support

Regards,
Bitmain HashNest Team

Yes, but from a different IP, both however belong to CLOUDFLARENET and this happens occasionally when hashnest does maintenance I think.

[lumeire]

Mine was

Action Type: Web login
Browser: Firefox
Platform: windows
IP Adress: 108.162.246.152
Location: United States; Washington; Seattle

You should take a look if something's changed in your account though.

[glax1983]

S4 redemption period is on

https://enforum.bitmain.com/bbs/topics/2847

You can't anymore sell your hashrate is hashnest.

If someone wants to sell his S4 account to me, PM me. I'm only interest about redemptin one S4. Escrow ok.

Edit: it cost more than 400 USD to ship ONE S4. Forget it.

Did anyone actually got one of their miners ever? I want to know, and maybe when S5 will be shippet to give it a try

[Mastsetad]

I have to say I d expect some news about 16nm from Hashnest as well. Cause if diff continues galloping this way and block halves, there s no ASIC that would be profitable. I refuse to believe they would simply shut down their farms and wait for difficulty to go down again.

If the block reward halves and the difficulty becomes 400% of present value, even the 16nm will not be profitable.

[Dekker3D]

But once S4s and S5s are no longer profitable and were halted then the difficulty will lessen. I guess they're plan is to eliminate all S4s and S5s and just use their latest model as it is cost efficient. They planned this difficulty increases so they planned on playing with us.

[chmick]

But once S4s and S5s are no longer profitable and were halted then the difficulty will lessen. I guess they're plan is to eliminate all S4s and S5s and just use their latest model as it is cost efficient. They planned this difficulty increases so they planned on playing with us.

+1

All this smell like manipulation . Conveniently BTC price icnrease after Diff increase and the timing is perfect to kill old generation hardware and push people to buy new one .

[Mastsetad]

But once S4s and S5s are no longer profitable and were halted then the difficulty will lessen. I guess they're plan is to eliminate all S4s and S5s and just use their latest model as it is cost efficient. They planned this difficulty increases so they planned on playing with us.

The difficulty rise will not lessen. One new 16nm miner is equal to 2.5 old s7 if the power consumption is the same.

[wlefever]

How long is the luckyhash game going to stay online?  Suppose to be done on Feb 15th but its still rolling.

[DebitMe]

How long is the luckyhash game going to stay online?  Suppose to be done on Feb 15th but its still rolling.

My bet is that they are already hashing on their next gen equipment, or at least have it on its way.  So what better way to get rid of old S7's than to sell them above market price?

[wlefever]

How long is the luckyhash game going to stay online?  Suppose to be done on Feb 15th but its still rolling.

My bet is that they are already hashing on their next gen equipment, or at least have it on its way.  So what better way to get rid of old S7's than to sell them above market price?

It def works out for them since each one sells for 3 BTC.  What I hate is it continues the S7 market dumping.  I mean what better way to make a few coins then win the luckyhash and drop the miner on the market instantly?   

[jackg]

How long is the luckyhash game going to stay online?  Suppose to be done on Feb 15th but its still rolling.

My bet is that they are already hashing on their next gen equipment, or at least have it on its way.  So what better way to get rid of old S7's than to sell them above market price?

It def works out for them since each one sells for 3 BTC.  What I hate is it continues the S7 market dumping.  I mean what better way to make a few coins then win the luckyhash and drop the miner on the market instantly?   

I was looking at that yesterday and found that a GHs of an S5 contract is actually ore expensive than an S7 contract?
How does that work out?
Only one answer to that question, they have placed too many S7s on for distribution too quckly. I think there was an initial sale of 1000 that kept the value up quite high, but it plumitted when another 1000 entered the market. Now there is another ~400 miners added, the price is just going to keep dropping. This, however, makes Hashnest more attractive to investors (they lose less even though two miners havegon into redepmtion in te same month!).

[Matias]

I was looking at that yesterday and found that a GHs of an S5 contract is actually ore expensive than an S7 contract?
How does that work out?
 !).

Ghs for s7 costs ten times more than Ghs for S5. You apparantly missed one digit.

[Mastsetad]

I was looking at that yesterday and found that a GHs of an S5 contract is actually ore expensive than an S7 contract?
How does that work out?
 !).

Ghs for s7 costs ten times more than Ghs for S5. You apparantly missed one digit.

S5 is almost impossible to make profit. I think it is difficult for S7 as well when the 16 nm miner come out next month.

[crazyivan]

I was looking at that yesterday and found that a GHs of an S5 contract is actually ore expensive than an S7 contract?
How does that work out?
 !).

Ghs for s7 costs ten times more than Ghs for S5. You apparantly missed one digit.

S5 is almost impossible to make profit. I think it is difficult for S7 as well when the 16 nm miner come out next month.

Dont forget halving is just 150 days away.