HASHNEST Discussion and Support Thread

[BITMAIN_Janet]

Perhaps I haven't read the right thread, but....is there anyone commenting about their actual experience having bought cloud mining from Hashnest and how it worked for them including profit? Anyone made any money with them?

Hi TriplD,

Here is the comparation of Physical Mining, Traditional Cloud Mining, and PACMiC Mining, FYI


S5 cloud mining contract, mining revenue will be paid for the electricity fee, the remaining of mining revenue will be paid to your hashnest's account.

PACMiC, mining revenue will be prior to pay for the profit, the remaining of mining revenue will be paid for your 1BTC investment.
Profit is calculated by the formula: unpaid principal (BTC) * 0.7 (satoshis per BTC per second) * time to find a block (seconds).

PM me if you have any problems  

[chunkyjunkie]

Does the PACMIC pay faster as time goes on?  Less?  or the same?

Because it is multiplied by your remaining principal?

Thank you in advance.

Edit - I imagine profit slows as the PACMIC contract goes on  because if the right side of the equation ( * 0.7 (satoshis per BTC per second) * time to find a block (seconds).  ) always stays the same and the left side ( what it gets multiplied by goes down ie 1 btc to start then .75 then .5 etc....

From what I gather profit slows down as the contract goes on.

However, what about the speed of repayment on the principal?   Does that slow down like profit? stay the same? or speed up?

[BITMAIN_Janet]

Does the PACMIC pay faster as time goes on?  Less?  or the same?

Because it is multiplied by your remaining principal?

Thank you in advance.

Edit - I imagine profit slows as the PACMIC contract goes on  because if the right side of the equation ( * 0.7 (satoshis per BTC per second) * time to find a block (seconds).  ) always stays the same and the left side ( what it gets multiplied by goes down ie 1 btc to start then .75 then .5 etc....

From what I gather profit slows down as the contract goes on.

However, what about the speed of repayment on the principal?   Does that slow down like profit? stay the same? or speed up?

Hi chunkyjunkie,

Under the same diff, in case of 1 BTC investment, PPS payout, mining revenue is 0.01077264BTC in day one, the profit is 1BTC* (0.7*10^-8)*(1*24*3600) =0.0006048BTC, then unpaid principal after the payout distribution on day one is 1BTC-(0.01077264BTC - 0.0006048BTC)=0.98983216BTC.

Day two (2), the mining revenue is still 0.01077264BTC, the profit is 0.98983216BTC*(0.7*10^-8)*(1*24*3600)=0.00059865BTC, then unpaid principal after the payout distribution on day two is 0.98983216BTC- (0.01077264BTC - 0.00059865BTC)=0.97965817BTC

...

I think the speed of repayment is up, the profit is less under the same mining revenue condition as the contract goes on.


Feel free to drop a question if there is any concern.

[chunkyjunkie]

Does the PACMIC pay faster as time goes on?  Less?  or the same?

Because it is multiplied by your remaining principal?

Thank you in advance.

Edit - I imagine profit slows as the PACMIC contract goes on  because if the right side of the equation ( * 0.7 (satoshis per BTC per second) * time to find a block (seconds).  ) always stays the same and the left side ( what it gets multiplied by goes down ie 1 btc to start then .75 then .5 etc....

From what I gather profit slows down as the contract goes on.

However, what about the speed of repayment on the principal?   Does that slow down like profit? stay the same? or speed up?

Hi chunkyjunkie,

Under the same diff, in case of 1 BTC investment, PPS payout, mining revenue is 0.01077264BTC in day one, the profit is 1BTC* (0.7*10^-8)*(1*24*3600) =0.0006048BTC, then unpaid principal after the payout distribution on day one is 1BTC-(0.01077264BTC - 0.0006048BTC)=0.98983216BTC.

Day two (2), the mining revenue is still 0.01077264BTC, the profit is 0.98983216BTC*(0.7*10^-8)*(1*24*3600)=0.00059865BTC, then unpaid principal after the payout distribution on day two is 0.98983216BTC- (0.01077264BTC - 0.00059865BTC)=0.97965817BTC

...

I think the speed of repayment is up, the profit is less under the same mining revenue condition as the contract goes on.


Feel free to drop a question if there is any concern.

Thank you very much!

[ajw7989]

Does the PACMIC pay faster as time goes on?  Less?  or the same?

Because it is multiplied by your remaining principal?

Thank you in advance.

Edit - I imagine profit slows as the PACMIC contract goes on  because if the right side of the equation ( * 0.7 (satoshis per BTC per second) * time to find a block (seconds).  ) always stays the same and the left side ( what it gets multiplied by goes down ie 1 btc to start then .75 then .5 etc....

From what I gather profit slows down as the contract goes on.

However, what about the speed of repayment on the principal?   Does that slow down like profit? stay the same? or speed up?

Hi chunkyjunkie,

Under the same diff, in case of 1 BTC investment, PPS payout, mining revenue is 0.01077264BTC in day one, the profit is 1BTC* (0.7*10^-8)*(1*24*3600) =0.0006048BTC, then unpaid principal after the payout distribution on day one is 1BTC-(0.01077264BTC - 0.0006048BTC)=0.98983216BTC.

Day two (2), the mining revenue is still 0.01077264BTC, the profit is 0.98983216BTC*(0.7*10^-8)*(1*24*3600)=0.00059865BTC, then unpaid principal after the payout distribution on day two is 0.98983216BTC- (0.01077264BTC - 0.00059865BTC)=0.97965817BTC

...

I think the speed of repayment is up, the profit is less under the same mining revenue condition as the contract goes on.


Feel free to drop a question if there is any concern.

Makes a lot of sense so in others words for people still confused the very small amount (0.0006048) is the profit and does not count towards the 1 BTC payback. The bigger amount is what counts towards the 1 BTC when once hit the contract self-terminates

[Tupsu]

Do hashnest reliable ? No.


Hashnest  Never paid me for

AntminerS5 Block: #344417

AntminerS5 Block: #344420

Opened ticket 2015-02-23 10:57:57   ID:#1130







Yesterday I downloaded Exel table . Download Report   Currency BTC, Type - Mining.

No Block: #344417 and #344420.

[chunkyjunkie]

Were you buying and selling hash during the time?

Remember you could own the ghs at the time the block is found but if you sold it before it was credited at one point you would not have been paid.

Not sure how they calculate payments now if it is the owner of the hash at the time the block is found or the owner of the hash when confirmations have gone through.

[BITMAIN_Rob]

Do hashnest reliable ? No.


Hashnest  Never paid me for

AntminerS5 Block: #344417

AntminerS5 Block: #344420

Opened ticket 2015-02-23 10:57:57   ID:#1130







Yesterday I downloaded Exel table . Download Report   Currency BTC, Type - Mining.

No Block: #344417 and #344420.

i will check it

[BITMAIN_Rob]

Do hashnest reliable ? No.


Hashnest  Never paid me for

AntminerS5 Block: #344417

AntminerS5 Block: #344420

Opened ticket 2015-02-23 10:57:57   ID:#1130







Yesterday I downloaded Exel table . Download Report   Currency BTC, Type - Mining.

No Block: #344417 and #344420.

EDIT

hi please check your  transactions on 2015-02-22 about 12:31

 you sell your last 505 ghs antS5 hashpower on 2015-02-22 11:54
the block 344417 344420 was payout about 2015-02-22 12:30, at this timestamp you don;t have any antS5!

[BITMAIN_Janet]

Were you buying and selling hash during the time?

Remember you could own the ghs at the time the block is found but if you sold it before it was credited at one point you would not have been paid.

Not sure how they calculate payments now if it is the owner of the hash at the time the block is found or the owner of the hash when confirmations have gone through.

Hi

If you sell the hashrate before the mining revenue is distributed, then payout will be owned by the new owner.

[chunkyjunkie]

PACMIC missing some block payments again...

I wasn't going to post as they have been eventually been being paid, however, these are taking a while and still not paid.

Blocks for PACMIC not paid for my contract yet

346734
346741
346753
346756
346761
346786
346789


After last night's update it looks like new blocks are being paid right so far but still missing these older blocks.

I will update when these non paid older blocks have been paid.

[uzitgc]

why can't I withdraw coins from my wallets?

I keep getting error 500 message when I try to withdraw any amount of coin (from both BTC & DOGE).

This has been going on for the past 5-6 hours or so

[Tupsu]

hi please check your  transactions on 2015-02-22 about 12:31

it loss some data of transactions when we upgrade. it fixed now

I downloaded report  and

No mining rewards from block 344417  and 344420




HASHNEST - Please also  specify time to and the the date of MY rewards from block 344417  and 344420,

https://forum.bitmain.com/bbs/topics/1439

Were you buying and selling hash during the time?

Remember you could own the ghs at the time the block is found but if you sold it before it was credited at one point you would not have been paid.

Not sure how they calculate payments now if it is the owner of the hash at the time the block is found or the owner of the hash when confirmations have gone through.

Hi

If you sell the hashrate before the mining revenue is distributed, then payout will be owned by the new owner.

I had the miners. proof
http://www.perearstike.ee/C1/missing.jpg

EDIT.

BITMAIN_Rob Official   Reply # 19 , 2015-03-09 15:44:35     

@osta  check your translations again, you sell your last 505 ghs antS5 hashpower on 2015-02-22 11:54
the block 344417 344420 was payout about 2015-02-22 12:30, at this timestamp you don;t have any antS5!

............................................................................... ........
http://www.perearstike.ee/C1/missingEarnings.jpg


Block 344409 paid out   2015-02.20 18:51:55

Block 344442 paid out    2015-02-21 00:44:17

Antpool paid block 344417 and  344420  out to  you  at the right time !, not at 2015-02-22 12:30

[Tathata]

Batch 5 is out @ 1.48 BTC

[cloh76]

Batch 5 is out @ 1.48 BTC

Batch 6 is out and even cheaper

[cloh76]

If I buy 1155 GH from the market rather then 1 S5 unit from the Hashnest store, will I still have the option of having an S5 unit shipped to me if the maintenance cost exceeds the earnings and they shut down mining?

[Larry W]

What do you mean by batch 5 and batch 6 are out? Where?

[BITMAIN_Rob]

PACMIC missing some block payments again...

I wasn't going to post as they have been eventually been being paid, however, these are taking a while and still not paid.

Blocks for PACMIC not paid for my contract yet

346734
346741
346753
346756
346761
346786
346789


After last night's update it looks like new blocks are being paid right so far but still missing these older blocks.

I will update when these non paid older blocks have been paid.

hi

all of blocks has been paid, please check it again, or pm your username in hashnest

[cloh76]

What do you mean by batch 5 and batch 6 are out? Where?

Batch 5 and 6 of S5 Antminers on Bitmaintech.com

[chunkyjunkie]

PACMIC missing some block payments again...

I wasn't going to post as they have been eventually been being paid, however, these are taking a while and still not paid.

Blocks for PACMIC not paid for my contract yet

346734
346741
346753
346756
346761
346786
346789


After last night's update it looks like new blocks are being paid right so far but still missing these older blocks.

I will update when these non paid older blocks have been paid.

hi

all of blocks has been paid, please check it again, or pm your username in hashnest

These were for the pacmic contract. 
Private message sent with my hashnest username

Thank you very much!