Hashnest 's newest PACMiC Cloud Mining Contract

[Buttknuckle]

I too am wondering if there will be another round of pacmic.  Let us know please Bitmain.

[Gultahin]

Same as many here, when i decided i was ready and understood the contract it went out of order... shame i haven't seen it before it was too late...
Another round of Pacmic would be really nice, especially in those "stable" times of btc.

[ajw7989]

PACMIC seems good but remember it locks your btc in. Its one of the more safer investments but the ROI is not too high since it will take a while before you see that return. I think its better to just trade on the hashnest exchange since you can buy and sell freely.

[crazyivan]

How long has it been since the last PACMiC round was available?

[Buttknuckle]

PACMIC seems good but remember it locks your btc in. Its one of the more safer investments but the ROI is not too high since it will take a while before you see that return. I think its better to just trade on the hashnest exchange since you can buy and sell freely.

There are pros and cons to each.  I have been buying hash there because the pacmic was not available and the results have been very good.  The nice thing is that if you buy at a price and later decide that you want out at the same price or higher, while you wait to see if it goes back up you collect mined coins.  It is a very nice way to go.

[fredeq]

Pacmic v2 just opened.
I was tired of waiting and invested in some S5 and coins just yesterday.

Have to buy extra BTC now

[ajw7989]

Pacmic v2 just opened.
I was tired of waiting and invested in some S5 and coins just yesterday.

Have to buy extra BTC now

Did you look though the formula is changed no longer .7 its .45

[valkir]

How many time it take to fully get back the value with the pacmic 1 ??

[miki77miki]

How many time it take to fully get back the value with the pacmic 1 ??

According to https://sites.google.com/site/freebitcoinsforall/ it will take 108 days to ROI (I don't own the site, i'm not sure how accurate it is either)

[valkir]

So the new one will take more than this since the bonus is lower! 

[DebitMe]

So the new one will take more than this since the bonus is lower! 

No I think it should take the same amount of time, but you will make less since the profit portion was cut in half.  So they were advertising the original PACMiC was around 22% APR, but now it will be closer to 11%.  Not really worth it anymore IMO.

[DebitMe]

If I have auto buy turned on for for PACMiC v1, will it buy into PACMiC v2 with the reinvestment?

[TracerX]

If I have auto buy turned on for for PACMiC v1, will it buy into PACMiC v2 with the reinvestment?

It doesn't appear to be doing that, no.

[fredeq]

Pacmic v2 just opened.
I was tired of waiting and invested in some S5 and coins just yesterday.

Have to buy extra BTC now

Did you look though the formula is changed no longer .7 its .45

Missed that indeed. May buy it just for my curious side though.

[finbad]

I still like it,  stable and quiet.

[nicklello]

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

[DebitMe]

It is the exact same this time around as before...

You pay 1 btc, which equates to 1 TH/s of mining power.  As blocks are found by Antpool, you get a payout equal to as if you had 1 TH/s of mining power pointed at the pool.  There are no electricity or maintenance fees taken out.  This amount goes back to you and reduces the amount that they owe you (which was 1 btc).  You get profit based on the length of time it took to find that block times 4.5 satoshis times your unpaid principal.

As for whether it is profitable and/or better than anything else.  There is no crystal ball.  If everyone knew the answer to that, there would be no question, but no one can predict what the future of mining will bring.  As with anything, there is a risk involved in buying a PACMiC, the thought is that the risk with these are lower, and therefor you will get less return on your money compared to other investments.  Do your own calculations and determine your risk level and what your looking for in an asset/return.

[ajw7989]

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

You pay 1 btc for 1 TH. To explain it very simple how it works is when you get your principle (1btc) back the contract ends and the miner is no longer yours. To make you a profit some of the coin they pay you does not count toward this principle so you end up with an ROI. the only way to actually lose money is if the S5 becomes unprofitable while you have the contract. As difficulty goes up it will take longer to pay you back but there is no timer on the contract. Essentially the estimated APY was around 22% I believe but with v2 its more around 14-16%.

[nicklello]

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

You pay 1 btc for 1 TH. To explain it very simple how it works is when you get your principle (1btc) back the contract ends and the miner is no longer yours. To make you a profit some of the coin they pay you does not count toward this principle so you end up with an ROI. the only way to actually lose money is if the S5 becomes unprofitable while you have the contract. As difficulty goes up it will take longer to pay you back but there is no timer on the contract. Essentially the estimated APY was around 22% I believe but with v2 its more around 14-16%.

Ah! Ok, I get it.... effectively I buy the miner at a reduced cost and HashNest buy it back from me with the interest being the (time * 4.5 Satoshi * amount owed) payment.

What are people's experiences of the 'v1' of this scheme ?

[DebitMe]

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

You pay 1 btc for 1 TH. To explain it very simple how it works is when you get your principle (1btc) back the contract ends and the miner is no longer yours. To make you a profit some of the coin they pay you does not count toward this principle so you end up with an ROI. the only way to actually lose money is if the S5 becomes unprofitable while you have the contract. As difficulty goes up it will take longer to pay you back but there is no timer on the contract. Essentially the estimated APY was around 22% I believe but with v2 its more around 14-16%.

Ah! Ok, I get it.... effectively I buy the miner at a reduced cost and HashNest buy it back from me with the interest being the (time * 4.5 Satoshi * amount owed) payment.

What are people's experiences of the 'v1' of this scheme ?

It worked out really well.  I have a couple of them that are about 86% paid back and some down to about 55% paid back.  They have brought in some income for a fairly safe investment.  Have been pretty happy so far.