HASHNEST Discussion and Support Thread

[DebitMe]

I'm looking into a possibility of buying a hashnest contract. However, I have some concerns. In particular, they offer AntMiner S9 contract for $1699 whereas they (Bitmain shop to be precise, but they are the same organization) physically sell (sold out) AntMiner S9-B22 for $1232 and they currently sell AntMiner T9 for $1104. Well, I understand that hosting in the cloud requires some additional costs, but not 25% ($450) really?

How do you explain such cost difference?

If you buy from the store, you also pay for shipping costs and you need a PSU to power your unit.  These 2 things pretty much make up that difference.

[Rogerdale]

If you buy from the store, you also pay for shipping costs and you need a PSU to power your unit.  These 2 things pretty much make up that difference.

But they offer Ant S7 miners for $370 having the same power supply requirements and the same size (so I assume that shipping costs and PSU are the same for S9 and S7). And total cost for S7 is even less than the price difference between "physical" and "cloud" S9. I believe that price of GHs on Ant S9 may fall by that difference (i.e. 25%) and it is not worth buying more. I would better buy less and add more when it becomes cheaper.

[DebitMe]

If you buy from the store, you also pay for shipping costs and you need a PSU to power your unit.  These 2 things pretty much make up that difference.

But they offer Ant S7 miners for $370 having the same power supply requirements and the same size (so I assume that shipping costs and PSU are the same for S9 and S7). And total cost for S7 is even less than the price difference between "physical" and "cloud" S9. I believe that price of GHs on Ant S9 may fall by that difference (i.e. 25%) and it is not worth buying more. I would better buy less and add more when it becomes cheaper.

These markets are not rational, and will not act rational.  Also remember that there is no oversight to stop people from manipulating the markets.  Historically there has always been a sharp decline at some point when a new hash is offered, but who knows when or how much.

[yoona]

The price of S7 has been quiet steady the last few months, but I always try to sell and buy the hash for better prices, made some 0.05 btc on 2 weeks like that :p

[bitcoinsforall]

Is it profitable to buy cloud hast rate at hashnest?

PACMiC v5

6TH/s for 1 btc...what will be the returns?

anyone tried it?

I am new to mining ,so wanna know your suggestions

thanks

[DebitMe]

Is it profitable to buy cloud hast rate at hashnest?

PACMiC v5

6TH/s for 1 btc...what will be the returns?

anyone tried it?

I am new to mining ,so wanna know your suggestions

thanks

Its pretty impossible to predict, you will make a profit as long as the S9 remains profitable to run for the length of time it takes to mine 1 btc with 6 TH/s.  Now this changes if you turn on reinvest and some other variables, but its really hard to predict what will happen.

EDIT:  that being said, I have done pretty well on the PACMiC V1 to 4

[iefken]

For whom it may be usefull, i made a hashnest profitability calculator that calculates your earnings based on all the CURRENT factors (global hashrate and bitcoin price)
http://www.thelazygainer.com/Tools/

dont mind the site too much, im still working on it :p

any advice tips and tricks for the site are welcome, i'm still learning :p

[bitcoinsforall]

Is it profitable to buy cloud hast rate at hashnest?

PACMiC v5

6TH/s for 1 btc...what will be the returns?

anyone tried it?

I am new to mining ,so wanna know your suggestions

thanks

Its pretty impossible to predict, you will make a profit as long as the S9 remains profitable to run for the length of time it takes to mine 1 btc with 6 TH/s.  Now this changes if you turn on reinvest and some other variables, but its really hard to predict what will happen.

EDIT:  that being said, I have done pretty well on the PACMiC V1 to 4

Thanks..I will check

[bitcoinsforall]

For whom it may be usefull, i made a hashnest profitability calculator that calculates your earnings based on all the CURRENT factors (global hashrate and bitcoin price)
http://www.thelazygainer.com/Tools/

dont mind the site too much, im still working on it :p

any advice tips and tricks for the site are welcome, i'm still learning :p

looks nice for a newbie like me..Will calculate and see how much hash rate to buy

[Rogerdale]

looks nice for a newbie like me..Will calculate and see how much hash rate to buy

But is it more profitable that buying hashpower itself? When buying Ant S9 you pay 1.84 - 1.94 BTC per 12.5 THs, and with PACMIC you pay 2 BTC per 12 THs. Is there any statictics how much profit does PACMIC make per day?

[iefken]

looks nice for a newbie like me..Will calculate and see how much hash rate to buy

But is it more profitable that buying hashpower itself? When buying Ant S9 you pay 1.84 - 1.94 BTC per 12.5 THs, and with PACMIC you pay 2 BTC per 12 THs. Is there any statictics how much profit does PACMIC make per day?

I don't even understand how PACMIC payment works, let alone calculate how much profit you can make from them :p

[Rogerdale]

Q: How does the customer make profit?

A: Bonus payouts are calculated using the formula: unpaid principal (BTC) * 0.45 (satoshis per BTC per second) * time to find a block (seconds). Mining revenue will first be used to make bonus payments, the remaining of mining revenue will be payment towards the purchase price.

With this explanation it makes 86400 * 365 * 0.45 * 0.00000001 = 0.14 BTC per year in terms of annualized return. The contract expires automatically when the principal (1 BTC) is paid back, so you are limited to 14% of annual return. Looks like in the old days 1 TH or PACMIC was much cheaper than 1 TH of a miner and annualized return was 22%. It seems that PACMICs v5 will be less profitable than buying Ant S9 mining power directly having pretty much the same risk.

[iefken]

Q: How does the customer make profit?

A: Bonus payouts are calculated using the formula: unpaid principal (BTC) * 0.45 (satoshis per BTC per second) * time to find a block (seconds). Mining revenue will first be used to make bonus payments, the remaining of mining revenue will be payment towards the purchase price.

With this explanation it makes 86400 * 365 * 0.45 * 0.00000001 = 0.14 BTC per year which is far not enough to pay back the contract in full.

yea but i think that is for 1TH and you get 6TH so 0.14*6TH, but still. It's something with rebuying,... No i dont get it lol

[Rogerdale]

yea but i think that is for 1TH and you get 6TH so 0.14*6TH, but still. It's something with rebuying,... No i dont get it lol

Looks like I got it, see here: https://bitcointalk.org/index.php?topic=982890.0

It is kind of a fixed income contract. You can't get more than 14% yearly, but can lose anyway.

[d@nte]

I realized that there has been a huge increase in the mining difficulty lately. 16.64% is a large number, especially after such a long time without big jumps... The company launched the data center announced last year? What happened to the S7 miners? Is s9 the only option giving some profit?

[Rogerdale]

I realized that there has been a huge increase in the mining difficulty lately. 16.64% is a large number, especially after such a long time without big jumps... The company launched the data center announced last year? What happened to the S7 miners? Is s9 the only option giving some profit?

I was shocked seeing a loss on my S7 contracts today. And I was double-shocked seeing this difficulty increase. And sold all my S7 hashpower immediately... it is unlikely that they pay back even at this relatively low THs price if difficulty keeps growing. But S9 look good and will benefit from their low maintenance cost.

[petahashminer]

I have a support ticket open on this subject for 10 days now.

The stats page must be updated with last 2 difficulty increase.

Current correct fee ($922 = 1 BTC):

S9 >38% (not 28.85% of stats page)
S7 >80% (not 61.14% of stats page)


I think ,this is because  they want to show the fees lower in order to sell more hashpower.

[Rogerdale]

Current correct fee ($922 = 1 BTC):

S9 >38% (not 28.85% of stats page)
S7 >80% (not 61.14% of stats page)

Really? On my Statistics page I see maintenance relative to revenue as they declare (29% and 62% respectively), at least for yesterday and the whole last week.

[petahashminer]

Current correct fee ($922 = 1 BTC):

S9 >38% (not 28.85% of stats page)
S7 >80% (not 61.14% of stats page)

Really? On my Statistics page I see maintenance relative to revenue as they declare (29% and 62% respectively), at least for yesterday.

see for tomorrow, and day after tomorrow and day after after...

if it still shows 29% and 62% respectively , ok i am wrong. But no, this is just a simple math and it  cannot be wrong.

[Rogerdale]

see for tomorrow, and day after tomorrow and day after after...

if it still shows 29% and 62% respectively , ok i am wrong. But no, this is just a simple math and it  cannot be wrong.

You couldn't predict 10 days ago the today's leap in difficulty. Last week everything was great. But you still can sell your hashpower and let it expire (likely for S7) or buy back at a cheaper price at some point (for S9).