HASHNEST Discussion and Support Thread

[hashnest]

hi
on hashnest in the WALLET appeared
KWH
what is it?

THZ

Hey! It’s a new wallet from Hashnest where users can store their maintenance fees. We will also be selling maintenance fee vouchers so that you can buy to top up and pay maintenance fees without deducting from your mining payout.

These functions are coming out in May!

[dyask]

Why is S17 trading is USDT instead of BTC?   I don't even have access to USDT and I really don't want it.

If hashnest wants to use USDT there should at least be the option to instantly convert it to BTC.   This seems crazy to me.  I mine, get paid in BTC but have to buy in sell TH/s in USDT?   It doesn't make seen.   Also there seems to be a lot of dark scandal clouds hanging around USDT.   It doesn't even seem to be fully backed by USDT so holding it is a double risk.  You risk the long-term growth of BTC and you risk a collapse of USDT if Bitfinex goes down.

[kz3d8fc7]

Why is S17 trading is USDT instead of BTC?   I don't even have access to USDT and I really don't want it.

If hashnest wants to use USDT there should at least be the option to instantly convert it to BTC.   This seems crazy to me.  I mine, get paid in BTC but have to buy in sell TH/s in USDT?   It doesn't make seen.   Also there seems to be a lot of dark scandal clouds hanging around USDT.   It doesn't even seem to be fully backed by USDT so holding it is a double risk.  You risk the long-term growth of BTC and you risk a collapse of USDT if Bitfinex goes down.

Same opinion here. I just cannot trust USDT.

[mercedes321]

thats why we short tether 

[dyask]

I'm glad it isn't just me.  Even if I was okay with using USDT it means a lot of risk to get the BTC I actually want.

1) Sell hashes ... don't know when they will sell.
2) Transfer USDT from hashnest to some exchange incurring more delays and fees.
3) Exchange USDT for BTC incurring more fees and risk.  

I don't have any probably will allowing USDT to be used as an alternative but there are come basics missing here.

1) It should be a choice to recieve/pay in mined coin or USDT, it shouldn't be forced
2) It should be possible to select what you want your payments in that is what is being done
3) It should be possible to exchange or withdraw at all times at hashnest.

Right now this looks more like a grab to keep more of the BTC, etc in exchange for something that may not even have a good future.

At least I hope the S15 stays BTC.  

I saw this: https://support.hashnest.com/hc/en-us/articles/360027001652-An-interview-by-Cailu-Cloudmining-exists-as-cryptocurrency-persists

"CAILU:  When users have made their purchases on Hashnest, they trust that the miners are deployed for real time mining. It does seem like this part is not heavily monitored. What do you think a cloudmining platform should do to make customers trust that it is really mining for them? Might a strict monitoring become a thing for future cloud mining?

ROB: Users can choose to automatically convert their mined bitcoins to USDT or ZEC to BTC. But I don’t recommend changing your coins to USDT now, bull market might be a better time to do so."  ...

Has anyone seen this type of option?   I don't what my BTC to be converted to something I don't want like USDT by some kind of default setting change.   Anyway I've never seen anything like that.

[dyask]

Just saw this: "fee: 4.0 USDT"!!!!   

I knew there would be a fee to withdraw but that is robbery.    Even when BTC was very expensive of fees they where lower than that!   I think the most I every had to pay was around $1.   

Hashnest is really high in the fees but BTC is at: "fee: 0.0001 BCH" which is around $0.60 US right now.    LTC is "fee: 0.001 LTC" which is around $0.08 which typical for LTC. 

[mercedes321]

yeah LTC rules,..wish they had LTC miners, and LTC trading /miner, and LTC widrawals,....we got time to wait 

[valgard]

Considering the BTC growth, it seems that miners are too cheap.

[dyask]

Considering the BTC growth, it seems that miners are too cheap.

BTC doesn't just go up and there was a 15 day preorder on that batch.   I've purchased 10 S15 miners, but let the last batch slide after doing the math.    In order just to breakeven I would have to sell at least 0.0062 BTC/TH.  That maybe hard to do in 15 days.    However I was mostly sacred off by the S17 market place just trading in USDT.   That increases the risk a lot in my view as it adds multiple additional fees and problems into the transactions. 

[jackg]

Yeah looks like I'm sticking with bitdeer until you stop using a proven scammer stablecoin (bitfinex lost 33% of everything before, what stops them from doing it again)...

Start using your brains hashnest...

[dyask]

Actually the idea of using a stable coin is a scam type approach ... They can claim you made a profit at some point in future even if you lost bitcoin.   They just wait until the value of btc is high enough to do so.   I really dislike this approach.

[PeaMine]

Please allow or change to the option of BTC for the S17 market place.

[CjMapope]

Yeah looks like I'm sticking with bitdeer until you stop using a proven scammer stablecoin (bitfinex lost 33% of everything before, what stops them from doing it again)...

Start using your brains hashnest...

ya its weird, as bitdeer IS bitmain lol
they just are getting bad name on hashnest it seems so branched off

the emails even come from "bitmain.com" on bitdeer

[jackg]

Yeah looks like I'm sticking with bitdeer until you stop using a proven scammer stablecoin (bitfinex lost 33% of everything before, what stops them from doing it again)...

Start using your brains hashnest...

ya its weird, as bitdeer IS bitmain lol
they just are getting bad name on hashnest it seems so branched off

the emails even come from "bitmain.com" on bitdeer

Point is the pr might be the same but I'm thinking they have different heads of the team (or maybe a different team on each).

The use of usdt is just setting people up for a loss since it's the worst stablecoin as it managed to fall to 80 cents from a pump and dump lol. You'd think they'd at least do their research...

[dyask]

Yeah looks like I'm sticking with bitdeer until you stop using a proven scammer stablecoin (bitfinex lost 33% of everything before, what stops them from doing it again)...

Start using your brains hashnest...

ya its weird, as bitdeer IS bitmain lol
they just are getting bad name on hashnest it seems so branched off

the emails even come from "bitmain.com" on bitdeer

Point is the pr might be the same but I'm thinking they have different heads of the team (or maybe a different team on each).

The use of usdt is just setting people up for a loss since it's the worst stablecoin as it managed to fall to 80 cents from a pump and dump lol. You'd think they'd at least do their research...

Even if usdt was perfect at holding value, it is still a horrible option and the best possible outcome is it just hides losses.  

UPDATE: usdt is slipping a bit more now ... which is even worse that it just hiding losses.   Two sets of risk doesn't reduce risk.

[kz3d8fc7]

I checked DASH mining on Bitdeer, it does not seem to be profitable at all. according to my calculations ROI is Infinity.
Intestingly, 120 day plans are sold out. Do they know more ?

[jackg]

I checked DASH mining on Bitdeer, it does not seem to be profitable at all. according to my calculations ROI is Infinity.
Intestingly, 120 day plans are sold out. Do they know more ?

They keep adjusting the price on the plans they offer. That isn't surprising it is no longer profitible. They probably just haven't changed prices back. The dash to btc market price is probably quite volatile as well as the dash to usd since bitcoin shot up.

[hashnest]

Grin fans! We are releasing G32-500, a miner that specifically mines the Grin coin. On sale 12 May, this Sunday! Do not miss it.

Model G32-500 from Innosilicon mining 2 algorithms (Cuckatoo31+, Cuckatoo32+) with a maximum hashrate of 100GPS for a power consumption of 520W.
Performance Target: 100GPS(+-5%) for CC31+
Power Consumption: 520W (+-10%)
Estimated Size: 125mm(W) x 155mm(H) x 270mm(L)
Estimated weight: 5KG

[leowonderful]

Interesting, never thought Hashnest would ever start selling contracts for non-Bitmain miners but this proves I’m wrong. Seems like the G32-500 is priced at $4500 according to the Innosilicon site for the “regular price”, and the miner apparently isn’t shipping ‘till August according to Innosilicon as well, so I assume this is a preorder for the hosting of the miner?

[hashnest]

Interesting, never thought Hashnest would ever start selling contracts for non-Bitmain miners but this proves I’m wrong. Seems like the G32-500 is priced at $4500 according to the Innosilicon site for the “regular price”, and the miner apparently isn’t shipping ‘till August according to Innosilicon as well, so I assume this is a preorder for the hosting of the miner?

Yes, this is preorder. We will offer users varied and competitive miners, not only from Bitmain. We will release StrongU-U6 preorder as well. Stay tuned!