Topic: HASHNEST Discussion and Support Thread - page 131. (Read 660097 times)

Competition. Well, one used to be competition I guess he´s on his way behind bars. The other´s operation is still going but seems to be showing some cracks.

Are those guys related with Hashnest?

No, they would absolutely have S7's hashing in the farm for everything that they can.  It would be stupid not too.  They get to directly pocket whatever the difference is between the maintenance fee they are charging and what it actually uses, I would guestimate that this is pretty significant revenue for them.

EDIT:  This is pretty much evidenced by the fact that when the UMISOO and S2 shut down, there was no drop in the global hashrate like you would expect when a bunch of machines were turned off.

The discounts have been coming thick and fast at Genesis Mining. It´s usually an ominous sign in the cloud mining business. Maybe they´re on their last leg.

And who do you think had paid for the swap from old S2 S3 etc. to S7 ? Bitmain ? Naaaahhhhh.

Old S2, S3, S4, S5 stay in farm until they are obsolete and then the can be redemed or dismantle.... no company will crunch his profit to swap old mining gears.... LOL....

So does this farm actually have a physical S3 which the users bought the GHS with ? I always assumed they just used the newest and latest hardware and just assigned whatever speeds each model has. Like an S7 can be 10 Antminer S3's.

So you might have an S3 running at 0.450T but insteads its really a S7 thats doing the hashing.

 

 I do belive by the 'wow gold farming' standarts of Chinese is providing us with cheap bitcoin. If I am right , they do not care about the ideology of bitcoin. They just want to mine and make money and that is it. Nothing more nothing less. Only a source of income for them. Which means they will keep mining and even mine more in the future , possibly even get the %80+ of mining themselves but then sell off all of the coins they mine.

 We can't get the coin prices higher as long as we do not have enough volume to buy bitcoins then chinese miners sell. We already have buyers and sellers regardless of miners , if the buyer amount surpasses the sellers+miners regularly it will start rising in the future.


 buyers > sellers+miners = btc going up
 buyers < sellers+miners = btc going down


 Now some of you might say 'isn't that obvious?' , well that means you either forget 2011-2013 era or you started sooner then those times. Those were the times when miners were on the side of buyers. They tried to mine + buy bitcoin because they believed in it. I was one of them , I mined and bought btc because I could mine with a simple laptop. Now you need to purchase miners worth more then a house to get any coins in mining.


 Long story short , %50+ going to chinese shifted the idea of 'miner' , the guy who believed in bitcoin to be huge and wanted as much as possible , who tried to find a way to mine with ps3 and iphone and even bought on top that became the company who bought 250 thousand dollars worth of miners to mine and sell of all of their mined coins.

What about Pacmic? Does anyone go into that anymore?

I think so, once LH is over then less dumping.

the price for the s7 is droping really low.... should this be a concern?
is it because of their luckyhash loto and people are dumping their ghs?

The prices for the S5 are low so that my GHS is almost nothing worth.
Before the big difficulty increase, my GHS were 0.75 BTC worth. After the big difficulty increase my GHS is 0.30 BTC worth. This in fact 0.46 BTC (60%) loss.

God knows, my GHS is in February only 0.15 BTC worth.

R.I.P. S3

What if the Chinese don´t fully share our noble western ideals about bitcoin? What if it´s just another milking cow to them, one that needs to be milked methodically, systematically? It´s always a possibility.

If they care to keep BTC at a decent price (the Chinese), they would want reduce the hash power in China as the BTC world is considering that a risk in the market. Already China has more then 50% of the network and if that keeps going then BTC is nothing more then a virtual Yuan and they can keep them all for themselves. People outside China really need to spot mining on the China public pools like Ant and F2. Many excellent choices available, I wold guess 50% of both those pools are getting hash from people outside China. How do we get the message out for the sake of the future of BTC?

Maybe a Super Bowl Ad, World Cup Ad? Front page of bitcointalk?

Don't know

In the shoes of the Chinese I´d keep flooding the market with hashpower and therefore difficulty and see if I could kill off some mining operations in the west. Probably good to have some of that six feet under when the halving takes place.

Yes, the price s very close to that. But I m more interested in difficulty, how is that going to develop over the next few weeks/months, cause the price will go up.

By the time block halves, the price must be at around $800 or it ll be unsustainable to mine.

S4 is going to get negative earnings at about 365 USD/BTC, so the current price is unsustainably high. On the other hand the same situation was just before shutting S3...

Well, I see that BTC for USD has gone up a little since I last posted. Hope this isn't a dead cat bounce.

Bitcoin has retreated and with it the hashrate. The diff could be flat or even a little down next. But it´s difficult to predict, bitcoin is an unruly beast.

Looks like S3 has officially bitten the dust and S4 is barely hanging on. If the current market trend and difficulty trend continue, I don't think even the S7 will survive the halving coming soon.