Topic: BUYING hardware from hashnest (Read 659 times)
Well much like S2's @ present, even when they are less-than-profitable they still hold value for PSU and internals, or to sell to someone with cheap/"free" power. What are hashnest's equivalent $/kWh anyways?
It sucks if you're in US, it's 50$ per miner as a handling fee on their end and then to ship it around 50$ again, so 100$ after unprofitable on their end. Seems like it is a big screwy thing since they tacked on the 50$ handling fee.
at that point, with the fees and unprofitable-ness, people would likely only take advantage of the shipping of they either had free power or just for nostalgia purpose.
thanks for all your replies
Will maybe buy a few GHS at hashnest
Will maybe buy a few GHS at hashnest
The best option is buy some ghs on the cloud and trade them. But you need to be carefull because it is a highly volatile market. you can win big, but you can also get stucked with unprofitable equipment
I remember that hashnest stated that if their hardware is not profitable anymore and they take away our contracts we will be able to redeem our hardware,BUT is it posible to choose to redeem the hardware while the hardware is still profitable?And how will I do this?
No, in the ToS, they will not sell the hardware until it is no longer profitable.
So it sounds like you could buy the hardware if BTC price declined enough. How long does it need to be unprofitable?
Here is the quote from the S4 ToS page
Miner Redemption
1. If due to falling bitcoin exchange rate or increase in mining difficulty, the electricity fee is greater than 90% of mining revenues, mining contracts on Hashnest will enter a “redemption waiting period”.
2. As we do our best to keep mining contracts profitable, during this waiting period, revenues will be paid out according to the PPS method.
3. If owing to a rising exchange rate, the ratio of electricity fees to PPS payout is lower than 90% for a period of ten continuous days, then mining contracts will revert back to the PPLNS method.
4. During this waiting period, if electricity fees are greater than revenues for a sustained period of ten continuous days, Hashnest reserves the right to retire the machines. When machines are retired, a user’s contract will then enter into the “hardware redemption period”.
5. Prior to a machine entering into this hardware redemption period, Hashnest will not accept any requests for hardware redemption.
6. During the hardware redemption period, users are given a period of fifteen days during which requests for hardware redemption must be made.
7. Customers holding enough GH/s to constitute an entire machine of the associated type (e.g., 1155 GH/s of Antminer S5) are eligible to convert that amount of GH/s into the used unit of the associated type. If a user does not have enough GH/s of the associated kind to exchange for actual hardware, then this user is not eligible for hardware redemption.
I remember that hashnest stated that if their hardware is not profitable anymore and they take away our contracts we will be able to redeem our hardware,BUT is it posible to choose to redeem the hardware while the hardware is still profitable?And how will I do this?
No, in the ToS, they will not sell the hardware until it is no longer profitable.
So it sounds like you could buy the hardware if BTC price declined enough. How long does it need to be unprofitable?
I remember that hashnest stated that if their hardware is not profitable anymore and they take away our contracts we will be able to redeem our hardware,BUT is it posible to choose to redeem the hardware while the hardware is still profitable?And how will I do this?
No, in the ToS, they will not sell the hardware until it is no longer profitable.
I remember that hashnest stated that if their hardware is not profitable anymore and they take away our contracts we will be able to redeem our hardware,BUT is it posible to choose to redeem the hardware while the hardware is still profitable?And how will I do this?
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