Umisoo was slightly profitable for most of the day yesterday. The coindesk price was above the threshold until after 1:30 Bejing time and is currently below.
Based on how Bitmain stated the redemption period works. There should have been small PPS payouts and it should have switched to PPLNS for the day. Assuming the price stays below it would have switched back in 24hrs and the 10 days redemption period wold start again.
Can someone from Bitmain clarify?
Topic: HASHNEST Discussion and Support Thread - page 200. (Read 660097 times)
This BTC price drop changes the picture again. It s going to prolong ROI significantly and reduce prices of contracts as well. Cloud mining s become a really tough business to participate in but I still have no major complains about Hashnest. I would like to pay fixed amount per day, like Genesis Mining for example. This good/bad luck s really discouraging.
This sucks big time. Hope the price recovers in the meantime for owners of Umisoo.
On the other hand, if these get turned off, would this affect diff?
On the other hand, if these get turned off, would this affect diff?
There is no guarantee that they will be turned off, or that S2's are currently hashing for the UMISOO contract. If Bitmain has gone in and upgraded all S2's to S5's already, then they can provide the hashrate for the UMISOO and S2 contracts for cheaper than what they are selling it for. It also means they will probably continue to mine with them or resell them as S5's now.
I also always bet that they had cheaper than .098 kw/h electricity rates, but charged us that amount. So they could still run them for themselves if it makes sense.
So you are saying Bitmain might claim to shut them off and would not actually do that?
Sure why not? Whats the contract really mean anyway? They can have any type of hashpower they want backing up all the hashpower that they sell, and can make the power rate anything they want. If I really wanted to, I could sell you hashpower from an S5, only sell you 1 TH/s of power, and claim power is .15 cents per kilowatt hour. Then, when that point is not profitable, I tell you the contract is over, then I keep running the machines for myself until it hits a point where it really isn't profitable anymore.
Not saying this is what is happening. But it is a possibility. They could be making more money if they had switched out all S2's and S3's with S5's and then continued your hashing power as if they were the lower model and banked the difference.
And as with any business that wants to avoid regulation and prosecution they're in China. WTF can anyone here do to a business in China that rips them off? Sue em? Good luck. It's a gamble as is pretty much anything BTC related. So far I haven't seen hashnest doing anything really sketchy to indicate them ripping customers off, but anything is possible and if they were really savvy we would never even know it, just like you illustrated.
exactly, not that I care. I agreed to the contracts that I have with them when I purchased. I don't care what goes on behind the scenes and if they make more money, as long as I continue to get paid based on the contract they entered into with me. If they were to give back at all, and reduce fees or whatever, I would probably invest more, but I don't see that happening.
I guess my whole point was to the person saying hashrate could go down when those contracts end, and I was saying that they could possibly not be turning off the miners.
This sucks big time. Hope the price recovers in the meantime for owners of Umisoo.
On the other hand, if these get turned off, would this affect diff?
On the other hand, if these get turned off, would this affect diff?
There is no guarantee that they will be turned off, or that S2's are currently hashing for the UMISOO contract. If Bitmain has gone in and upgraded all S2's to S5's already, then they can provide the hashrate for the UMISOO and S2 contracts for cheaper than what they are selling it for. It also means they will probably continue to mine with them or resell them as S5's now.
I also always bet that they had cheaper than .098 kw/h electricity rates, but charged us that amount. So they could still run them for themselves if it makes sense.
So you are saying Bitmain might claim to shut them off and would not actually do that?
Sure why not? Whats the contract really mean anyway? They can have any type of hashpower they want backing up all the hashpower that they sell, and can make the power rate anything they want. If I really wanted to, I could sell you hashpower from an S5, only sell you 1 TH/s of power, and claim power is .15 cents per kilowatt hour. Then, when that point is not profitable, I tell you the contract is over, then I keep running the machines for myself until it hits a point where it really isn't profitable anymore.
Not saying this is what is happening. But it is a possibility. They could be making more money if they had switched out all S2's and S3's with S5's and then continued your hashing power as if they were the lower model and banked the difference.
And as with any business that wants to avoid regulation and prosecution they're in China. WTF can anyone here do to a business in China that rips them off? Sue em? Good luck. It's a gamble as is pretty much anything BTC related. So far I haven't seen hashnest doing anything really sketchy to indicate them ripping customers off, but anything is possible and if they were really savvy we would never even know it, just like you illustrated.
This sucks big time. Hope the price recovers in the meantime for owners of Umisoo.
On the other hand, if these get turned off, would this affect diff?
On the other hand, if these get turned off, would this affect diff?
There is no guarantee that they will be turned off, or that S2's are currently hashing for the UMISOO contract. If Bitmain has gone in and upgraded all S2's to S5's already, then they can provide the hashrate for the UMISOO and S2 contracts for cheaper than what they are selling it for. It also means they will probably continue to mine with them or resell them as S5's now.
I also always bet that they had cheaper than .098 kw/h electricity rates, but charged us that amount. So they could still run them for themselves if it makes sense.
So you are saying Bitmain might claim to shut them off and would not actually do that?
Sure why not? Whats the contract really mean anyway? They can have any type of hashpower they want backing up all the hashpower that they sell, and can make the power rate anything they want. If I really wanted to, I could sell you hashpower from an S5, only sell you 1 TH/s of power, and claim power is .15 cents per kilowatt hour. Then, when that point is not profitable, I tell you the contract is over, then I keep running the machines for myself until it hits a point where it really isn't profitable anymore.
Not saying this is what is happening. But it is a possibility. They could be making more money if they had switched out all S2's and S3's with S5's and then continued your hashing power as if they were the lower model and banked the difference.
This sucks big time. Hope the price recovers in the meantime for owners of Umisoo.
On the other hand, if these get turned off, would this affect diff?
On the other hand, if these get turned off, would this affect diff?
There is no guarantee that they will be turned off, or that S2's are currently hashing for the UMISOO contract. If Bitmain has gone in and upgraded all S2's to S5's already, then they can provide the hashrate for the UMISOO and S2 contracts for cheaper than what they are selling it for. It also means they will probably continue to mine with them or resell them as S5's now.
I also always bet that they had cheaper than .098 kw/h electricity rates, but charged us that amount. So they could still run them for themselves if it makes sense.
So you are saying Bitmain might claim to shut them off and would not actually do that?
Isn't that's what cex.io did? Or at least was suspected to do so with so easily switchable miners to ''mining mode'' from being shut down...
Well Bitmain is of course a lot more trustable, but still.. I guess it's the same thing from the point of the customers, maybe just that hashrate would be a little bit higher (bad for difficulty).
All in all the way btc price goes nowadays you just hold... Then buy at the bottom and then..maybe..after rebounding..sometime..you know
This sucks big time. Hope the price recovers in the meantime for owners of Umisoo.
On the other hand, if these get turned off, would this affect diff?
On the other hand, if these get turned off, would this affect diff?
There is no guarantee that they will be turned off, or that S2's are currently hashing for the UMISOO contract. If Bitmain has gone in and upgraded all S2's to S5's already, then they can provide the hashrate for the UMISOO and S2 contracts for cheaper than what they are selling it for. It also means they will probably continue to mine with them or resell them as S5's now.
I also always bet that they had cheaper than .098 kw/h electricity rates, but charged us that amount. So they could still run them for themselves if it makes sense.
So you are saying Bitmain might claim to shut them off and would not actually do that?
At what BTC price do they stop that pacmic contract which I was saving for... Maybe it's good I still haven't bought it..
I believe the PACMICs will run 120 days from the contract start date before they determine if the unit is turning a profit, then the ten-day grace period kicks in. I may be incorrect, however.Needless to say, I kicked everything over from compounding interest to paying out today....
At what BTC price do they stop that pacmic contract which I was saving for... Maybe it's good I still haven't bought it..
Depends on difficulty. Use a calculator to find when 1 TH/s produces negative revenue today using 590 watts of power at .098 cents a kw/h.
At what BTC price do they stop that pacmic contract which I was saving for... Maybe it's good I still haven't bought it..
This sucks big time. Hope the price recovers in the meantime for owners of Umisoo.
On the other hand, if these get turned off, would this affect diff?
On the other hand, if these get turned off, would this affect diff?
There is no guarantee that they will be turned off, or that S2's are currently hashing for the UMISOO contract. If Bitmain has gone in and upgraded all S2's to S5's already, then they can provide the hashrate for the UMISOO and S2 contracts for cheaper than what they are selling it for. It also means they will probably continue to mine with them or resell them as S5's now.
I also always bet that they had cheaper than .098 kw/h electricity rates, but charged us that amount. So they could still run them for themselves if it makes sense.
This sucks big time. Hope the price recovers in the meantime for owners of Umisoo.
On the other hand, if these get turned off, would this affect diff?
On the other hand, if these get turned off, would this affect diff?
News from admin:
"Due to the falling bitcoin price this week, ANTS2 and UMISOO contracts currently have higher maintenance fees than they do revenues.
From April 14th, 2015 (Beijing time, GMT+8), Hashnest will calculate once daily ANTS2 and UMISOO expected revenues on a PPS basis. This calculation will be performed between 12:00 and 13:00 Beijing time each day. If this calculation returns a negative result, the losses will not be deducted from your remaining balance.
If negative income conditions persist for ten days in a row, ANTS2 and UMISOO contracts will be terminated.
* Currently, theoretical PPS return per terahash should be 0.01017BTC, and the daily electricity cost per terahash of ANTS2 and UMISOO is $2.304 USD. As long as BTC price is lower than $226.54 (2.304/0.01017), the electricity fee will exceed the mining rewards.
* The bitcoin price used will be the CoinDesk BPI USD price."
The price of UMISOO was about 0.0001BTC per GHs last night.
"Due to the falling bitcoin price this week, ANTS2 and UMISOO contracts currently have higher maintenance fees than they do revenues.
From April 14th, 2015 (Beijing time, GMT+8), Hashnest will calculate once daily ANTS2 and UMISOO expected revenues on a PPS basis. This calculation will be performed between 12:00 and 13:00 Beijing time each day. If this calculation returns a negative result, the losses will not be deducted from your remaining balance.
If negative income conditions persist for ten days in a row, ANTS2 and UMISOO contracts will be terminated.
* Currently, theoretical PPS return per terahash should be 0.01017BTC, and the daily electricity cost per terahash of ANTS2 and UMISOO is $2.304 USD. As long as BTC price is lower than $226.54 (2.304/0.01017), the electricity fee will exceed the mining rewards.
* The bitcoin price used will be the CoinDesk BPI USD price."
The price of UMISOO was about 0.0001BTC per GHs last night.
Finally 2 days in a row some great luck on Antpool. But, BTC tanks in the meantime. You can have both these days....
router's need CLON that s3 enter network ?
So I will say it like this, Hashnest is the last good cloudmining out there but I went ahead and sold 4th of S4 today and am out. Why? I figured I could sell at a decent price and if I end up wanting an S4 later I can just buy in at the end of break even days for a lot less.
LOL, BTC is lower now than it has been for a long time. You really think you made any money by selling your hash? Nope. If anything you lost money.
So I will say it like this, Hashnest is the last good cloudmining out there but I went ahead and sold 4th of S4 today and am out. Why? I figured I could sell at a decent price and if I end up wanting an S4 later I can just buy in at the end of break even days for a lot less.
I think you did it too early. I think BTC ll rebound again and S6 should not be out for at least 2 more months. I could be wrong.
Im able to login
Everything works now and even it seems Antpool luck s been improving today.
how can you tell? Finding blocks faster?
Yes, the result yesterday was a bit better and it seems it might be the same for today. However, this is still not what I would like to see.
I believe they do foot the bill. I keep meaning to double check this but it looks like the following block you are charged maint. fee from the orphan block too the next found.
Can anyone else confirm?
Can anyone else confirm?
does hashnest pay the fee for the orphan blocks or do we get to flip the bill. does the fee roll over to the next block?
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