Hashnest 's newest PACMiC Cloud Mining Contract

[DebitMe]

that is 100% false.  If bitcoin price goes down, then your contract may not complete if it costs more to run the units than the payout.  Read the ToS, they will shut off payments for the PACMiC if it costs more to run than it generates, same as buying any of their other hashing power.  At that point the contract is considered over.

Ok. Let`s taking off the part of grounding prices. Indeed there`s a certain risk (like that one) or the skyrocket diff. So you`re right about the risk.

Yes, there are risks, I agree with you, but your statement that no matter what you would get a return of your principal is not right and could leave people high and dry if they read that and don't do any further research.  Also the, 'temporary" suspension is for 10 days, and if the conditions do not improve in time for your contract to again start working for you it is considered over, and no matter what happens in the future, your contract is done and will not start back up.

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[dog1965]

 

The contract will be temporarially suspended if conditions were not favorable... so, let`s be less apocalyptic with BTC future. Since early days, everything within BTC world was risky... I bet this since I knew because it`s a nice idea. The return stills good for a first experience with it. Some people may want their coins to be underneath their arms, but, (at least in my case) it`s better than mining physically where electricity + diff, etc don`t help you get your coins.  

I get free electric. 

[dog1965]

Why do people Grab the shiny bottle but don't even bother to look to see if there is piss in it lol lol lol lol

[kapetan]

Hi

Have somebody calc the current ROI of Hashnest 's newest PACMiC Cloud Mining Contract ?

Q: Can I redeem my PACMiC before contract expiry?
A: No. The contract will be closed automatically at the time that the principal has been repaid in full. Contracts may not be terminated prior to this.



Contract ends when the capital was been repaid. Personally i cant understand it.
An example if the current roi is 200 days (not real just for example)
i invest 1 btc and after 200 days i make a roi , means i have earn 1 btc
so the cotract expiry in 200 days ? aka not loosing but what about make a profit of that investment ?

can we have some more info about the end of the contract , please

[BITMAIN_Janet]

Hi kapetan,

If you invest one bitcoin, get hashing power of one Th/s, mining revenue paid in PPLNS mode will be prior to pay your profit, then pay your unpaid capital.
Contract ends only when your one bitcoin is returned in full.

Profit is calculated by the formula: unpaid principal (BTC) * 0.7 (satoshis per BTC per second) * time to find a block (seconds).

[crazyivan]

Hi kapetan,

If you invest one bitcoin, get hashing power of one Th/s, mining revenue paid in PPLNS mode will be prior to pay your profit, then pay your unpaid capital.
Contract ends only when your one bitcoin is returned in full.

Profit is calculated by the formula: unpaid principal (BTC) * 0.7 (satoshis per BTC per second) * time to find a block (seconds).

So the end result is roughly 22% of profit per year under condition you re-buy your contracts during the entire year.  Principal returned in full.

[finbad]

So I am trying to understand this pacmic contract

I get the 22% annual return, and the repayment of principle etc etc.

what I don't understand is the perpetual buy back in option.

So, if I buy 1 contract for 1BTC and I immediately turn on the buy in option, and I leave it as is untouched for 100 days

what happens?  The contract hashing power increases,  but then what?

[DebitMe]

So I am trying to understand this pacmic contract

I get the 22% annual return, and the repayment of principle etc etc.

what I don't understand is the perpetual buy back in option.

So, if I buy 1 contract for 1BTC and I immediately turn on the buy in option, and I leave it as is untouched for 100 days

what happens?  The contract hashing power increases,  but then what?

When a block is solved, you are rewarded with an increase in hashing power equal to the payout of the block and a increase in your principal equal to your profit amount.

[finbad]

I get that

but when does the contract unwind if I have buy back in turned on from the start?

does it go for ever until no longer profitable?   so 2 years from no on I have 1BTC principle and 2 THS of hashing power, but no longer profitable,  so I get my 1 BTC back?

[DebitMe]

I get that

but when does the contract unwind if I have buy back in turned on from the start?

does it go for ever until no longer profitable?   so 2 years from no on I have 1BTC principle and 2 THS of hashing power, but no longer profitable,  so I get my 1 BTC back?

no, you have to choose at some point to switch it off of buyback.  At that point, instead of continuously purchasing more hashpower and adding to your principal, it will start to put bitcoins into your wallet on the site.  The trick is to time the time it would take to pay back your principal amount to the time it is no longer profitable to run.

[finbad]

so lets ignore difficulty and price of BTC,  just mechanically speaking is my logic right?


I start off with 1btc = 1btc principle = 1.0th

reinvest until my 1btc = 1.2 principle = 1.5th, (so principle payback goes into more hashing and profit goes into more principle)

I turn off buy back, and and let the 1.5th pay back to 1.0 principle profit goes into wallet

I turn on buy back until I built up again for 1.btc = 1.2 principle = 2.0 th

I turn off buy back and my 2.0th gets me down to 1.0 principle again but quicker profit goes into wallet.

rinse and repeat, but the cycle gets quicker because my hashing power accumulates, as long as the contract is active.



 

[DebitMe]

so lets ignore difficulty and price of BTC,  just mechanically speaking is my logic right?


I start off with 1btc = 1btc principle = 1.0th

reinvest until my 1btc = 1.2 principle = 1.5th, (so principle payback goes into more hashing and profit goes into more principle)

I turn off buy back, and and let the 1.5th pay back to 1.0 principle profit goes into wallet

I turn on buy back until I built up again for 1.btc = 1.2 principle = 2.0 th

I turn off buy back and my 2.0th gets me down to 1.0 principle again but quicker profit goes into wallet.

rinse and repeat, but the cycle gets quicker because my hashing power accumulates, as long as the contract is active.



 

The way you write makes sense, but it is actually better to continue to accumulate, since you will be earning interest on your interest.  If you let it pay you out, then you are not earning compounding interest.

The best way to handle the PACMiC is to find the exact time that it will take for you to earn your principal back and compare it to when the S5 is no longer profitable to hash.  As long as the time it will take for the S5 to no longer be profitable is longer than the days it will take to earn your principal back it is more worth it to keep your auto rebuy on and just continue to reinvest.

This sounds simple, but is much harder to figure due to difficulty and price changes in bitcoin than it seems.  I try to leave about a 40 to 50 day buffer where I would turn it off auto-rebuy.

I just turned my auto-rebuy back on a little while ago because the recovering bitcoin price has extended my thought process on how long these will remain profitable.

[finbad]

thank you for the discussion.

you are right, leave to rebuy and grow hashing power, as hashing power gets larger, it becomes easier to figure out when to start principle repayment which also take a shorter time.

difficulty seems to be holding steady which makes it even easier to decide.

[Gultahin]

we got some interesting offer here, really considering this kind of investment in this dark days where most of mining systems cant even make a ROI, safety with low earning rates seems the way.

[DebitMe]

we got some interesting offer here, really considering this kind of investment in this dark days where most of mining systems cant even make a ROI, safety with low earning rates seems the way.

Low earning interest rates?  This is still roughly 4 times better than anything in the stock market.

[underscore86]

Im trying to understand PACMiC
Is I'm correct with explanation PACMiC profit earning??

Please see my excel attachment :

https://docs.google.com/spreadsheets/d/1k-1MY5bs-PpyF8BaO_OCOha-zkNXEsGJbqzql9V_JWs/edit?usp=docslist_api

[crazyivan]

we got some interesting offer here, really considering this kind of investment in this dark days where most of mining systems cant even make a ROI, safety with low earning rates seems the way.

22% per year is a low interest rate for you? Where do you live, third world?

[flyingplows]

we got some interesting offer here, really considering this kind of investment in this dark days where most of mining systems cant even make a ROI, safety with low earning rates seems the way.

22% per year is a low interest rate for you? Where do you live, third world?

Don't forget all the risks involved, it's not bad, but mediocre given all involved risks (which are incomparably huge compared to stock market)... One of the better options these hard times though, I agree.

[crazyivan]

we got some interesting offer here, really considering this kind of investment in this dark days where most of mining systems cant even make a ROI, safety with low earning rates seems the way.

22% per year is a low interest rate for you? Where do you live, third world?

Don't forget all the risks involved, it's not bad, but mediocre given all involved risks (which are incomparably huge compared to stock market)... One of the better options these hard times though, I agree.

Probably the best option, considering fixed interest rate.

[finbad]

will there be a new round of PACMiC offered in the future?

I ask so I can plan to put the funds aside.