Topic: HASHNEST Discussion and Support Thread - page 303. (Read 659731 times)

So they can make a profit...

Think of the structure like this: they are asking you to purchase an S2 for 1.35BTC and then charging you $98 a month to host it.  Run that through any calculator out there and you'll find the difficulty increases need to be lower than 5% for you to even break even.

Fee is static. Cost for insurance of machine and electricity, it's about half of CEX.IO

As mentioned in the Chinese version of UMISOO offering, miners will be leave in the mine turn off for up to 10 days if fees > expected profit.

Limit is removed

Asked the same question, thus removed.

They claim to be developing on a miner thing...yy that will direct hashrate to P2Pool. For now, Antpool

Wait so its live now?  What happened to the 12 hours or so left until it went live?

Why are the prices, maint fee included, so high?

M

Are the fees static, or will they adjust during the term of the contract?  For example, currently they are listed as $0.0032422/GHS/Day.  Is that price locked in?  

I understand from your posting in the announcement thread that the contract length is for as long as the earned BTC is greater than the maintenance fee.  How is this calculated - is it real time based upon some exchange, or averaged out?  What happens if today the fees end up being greater than what is mined, but tomorrow the price of BTC increases to make it that the earnings are now greater than the fees again?

There is currently a limit of 1TH/s per person.  There is also the ability to enter some kind of code to unlock more.  How does one get this code?

What's to stop a person from creating multiple identities and purchasing more than 1TH/s of hashing?

Will this new service be added to the p2pool network, or is it going to be mining on some proprietary pool (like AntPool)?

BITMAIN is announcing the acquisition of Hashnest.com – a cloud hash platform which was originally named Snowball Exchange (Snowball.io). Hashnest.com will operate independently to build a reliable, economical and decentralized platform that serves the worldwide mining enthusiasts and hosting operators. What’s more, this is also a step to enhance the fundamental safety of Bitcoin.


The biggest advantages of Hashnest.com are the stable earnings, low maintenance cost and the safety & integrity of capital. Hashnest.com is the largest cloud mining platform for Bitcoin in China, which was officially launched on June 1st, 2014, and the users incredibly climbed to 1,000 in less than 90 days without any marketing expenses. So far, the total hash rate infused into the platform has been over 4PH/s that is accounted for about 2% of the total network hash rate. The core team members have the rich experiences in WEB development. They are not only focusing on customers’ needs and customer experiences, but also vigorously protecting customers’ assets which is spoken highly by the evaluation test conducted by the third party white-hat network evaluators such as one of the famous providers Wooyun (wooyun.org).

The hash rate distribution of HASTNEST is based on the actual hash rate and real output. Every day, the cloud mining hashing power owners will receive the mining revenue based on the real output of their own hash rate. Users can monitor the hash rate in the mining pool from HASHNEST platform in real-time.




With the rapid growth of Bitcoin industry, the hash rate of Bitcoin keeps increasing. The cost of mining rigs is gradually getting lower as the constant R&D efforts. Let’s consider a middle-class mining fans as an example. Funding the capital and making a decision to take risks to join mining industry are the easy part. It’s more difficult for him to spend a lot of time/patience on deploying/maintaining the mining rigs and meeting the electricity needs and managing the heat. In the future, most of the mining rigs will be deployed in specialized hosting farms, enterprising and professional teams will help to search the low cost energy and maintenance for the rigs. The miners will access their miners and hashing power remotely, just like the popular VPS business model in the Internet.

However, we still need to keep decentralization in this centralization trend. It is sure harmful and dangerous to the Bitcoin industry and the eco-system if the majority of hashing power are controlled by a handful of people.

We are investing significant resources into the development of p2pool mining protocol. At present, the hash rate of HASHNEST is mined from ANTPOOL, zero (0) fees, which will soon be contributed into p2pool. The development of contributed into p2pool is almost completed, and in the final testing and deploying. The code of ANTPOOL will be open sourced, and we are confident that you will be impressed by the outstanding contribution that BITMAIN put into p2pool protocol. We have a focused team who are developing the p2pool mining protocol, and the goal is to have 80% of the total network hash rate join p2pool within next 12 months. At that time, the whole Bitcoin community will never be anxious about the potential risks of the decentralization risk associated with the pool mining model now.




UMISOO, the first Operator on HASHNEST will provide 4PH/s hashing power, and plan to start the Round 1 subscription at Beijing Time 22:00pm, 2nd September, 2014 (UCT+8:00 Time Zone). Official subscribed flat price is 0.00135 BTC/Gh/s. The Round 1 hash rate is generated by AntMiner S2 with the maintenance fee of $0.0032424/GH/s/Day.



HASHNEST official website is hashnest.com and the BITMAIN official website is bitmaintech.com