Basically, as long as you have auto-rebuy ON you will never get your principal back? You aren't buying new contracts you are just increasing the hashrate of the contract you have thus increasing your principle amount.
Is that correct?
Topic: Hashnest 's newest PACMiC Cloud Mining Contract - page 2. (Read 20700 times)
the .8 (not .08) satoshi/sec seems to be skimmed "off the top" of the payout and becomes the "profit", THEN the balance of the payout is applied to "payback of the principal".
Ignore the 0.098 electric cost thing for a couple months, that was a misreading of the contract terms and should have no effect for a while. My best estimate is that a S5 will be profitable at 0.098 electric right up to the halfing - they might still be profitable AFTER the halfing at my "non-summer" 0.067 incrimental electric rate, if the halfing wasn't due to happen soon after the time my rates kick up for the summer (though I hope to be ELSEWHERE with cheap electric by then).
I figure the V3 contracts won't hit "no more payout" status as of the halfing, if not then VERY VERY shortly thereafter, unless bitcoin prices kick up quite a bit before that or difficulty flattens back out to well under 2%/round on average (yeah, SURE it will..... NOT!).
Based on what I'm seeing out of my "trial" contract, looks like payback will be ballpark 100ish days, possibly as high as 120 with the RECENT difficulty rate of increase.
Ignore the 0.098 electric cost thing for a couple months, that was a misreading of the contract terms and should have no effect for a while. My best estimate is that a S5 will be profitable at 0.098 electric right up to the halfing - they might still be profitable AFTER the halfing at my "non-summer" 0.067 incrimental electric rate, if the halfing wasn't due to happen soon after the time my rates kick up for the summer (though I hope to be ELSEWHERE with cheap electric by then).
I figure the V3 contracts won't hit "no more payout" status as of the halfing, if not then VERY VERY shortly thereafter, unless bitcoin prices kick up quite a bit before that or difficulty flattens back out to well under 2%/round on average (yeah, SURE it will..... NOT!).
Based on what I'm seeing out of my "trial" contract, looks like payback will be ballpark 100ish days, possibly as high as 120 with the RECENT difficulty rate of increase.
So got a question, the .08 satoshis we are getting per second, is that getting counted toward our principal (.666 btc)? If so that's NOT profit, that's just getting our own btc back faster, IE no profit.
Also i already asked in chat, the iOS app is no longer working for me and a few others it seems...
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Also i already asked in chat, the iOS app is no longer working for me and a few others it seems...
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You're missing the point.
That 0.098 "electric/maintainance fee" appears to come right off the top of the "payback" part of the PACMIC contract, if I'm reading the bloody thing right. Therefore your estimate of 80 days for payback seems WILDLY optimistic, even at ZERO difficulty increase.
That 0.098 "electric/maintainance fee" appears to come right off the top of the "payback" part of the PACMIC contract, if I'm reading the bloody thing right. Therefore your estimate of 80 days for payback seems WILDLY optimistic, even at ZERO difficulty increase.
As pointed out, every block found on a PACMiC contract pays the full amount that 1 TH/s of hashing speed would have generated on Antpool. There is no electricity or maintenance fees taken out which is why first you calculate how quickly .666 btc will be paid back with 1 TH/s of hash with no electricity fee. Then compare that to how long the S5 will remain profitable.
ICBW but...
The 0.098 does not come off anything, there is no maintenance fees on pacmic contracts.
That price is only relevant if difficulty jumps or btc falls and they would be unprofitable to run on 0.098 electric, that is when they suspend the contract.
The 0.098 does not come off anything, there is no maintenance fees on pacmic contracts.
That price is only relevant if difficulty jumps or btc falls and they would be unprofitable to run on 0.098 electric, that is when they suspend the contract.
You're missing the point.
That 0.098 "electric/maintainance fee" appears to come right off the top of the "payback" part of the PACMIC contract, if I'm reading the bloody thing right. Therefore your estimate of 80 days for payback seems WILDLY optimistic, even at ZERO difficulty increase.
That 0.098 "electric/maintainance fee" appears to come right off the top of the "payback" part of the PACMIC contract, if I'm reading the bloody thing right. Therefore your estimate of 80 days for payback seems WILDLY optimistic, even at ZERO difficulty increase.
Here is my spreadsheet...
https://docs.google.com/spreadsheets/d/1zbKKyXtW0vcfGDufk_UIRg_gAi0JzjsFwvB7LGj8bOI/edit?usp=sharing
I am not getting to the 25% APR, perhaps I have an error? Can anyone correct my calcs for the V2 and V3?
I don't see where the specified 0.098 cent electric for the "optimal S5 miner" part is figured?
I did a rough calculation last week, at 2% diff increase, and came up with ballpark 250ish days to pay back the initial .666 BTC and a small profit.
That spreadsheet doesn't care about electricity price. All it does it figure out how long it will take to pay back .666 btc with 1 TH/s of mining power based on how many blocks Antpool should be finding per day.
As of right now, it will take roughly 80 days to pay back .666 btc on a PACMiC contract with a 5% difficulty increase.
A S5 will become unprofitable after roughly 120 days.
That is a 40 day difference, for me that is under the 50 day difference I try to keep it over and as such, I usually turn off the auto rebuy at this point. But, I think the price will rebound and the difficulty adjustments will be low for another 2 or 3 rounds before we see some bigger growth, so I will leave my auto rebuy on for now.
Here is my spreadsheet...
https://docs.google.com/spreadsheets/d/1zbKKyXtW0vcfGDufk_UIRg_gAi0JzjsFwvB7LGj8bOI/edit?usp=sharing
I am not getting to the 25% APR, perhaps I have an error? Can anyone correct my calcs for the V2 and V3?
I don't see where the specified 0.098 cent electric for the "optimal S5 miner" part is figured?
I did a rough calculation last week, at 2% diff increase, and came up with ballpark 250ish days to pay back the initial .666 BTC and a small profit.
Just to clarify, that means Bitman will owe me more then .666 btc back seeing i keep buying more gh/s from them?
Thanks
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Thanks
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Yes.
Just to clarify, that means Bitman will owe me more then .666 btc back seeing i keep buying more gh/s from them?
Thanks
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Thanks
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Yea that was me 
anyways here is a question for ya, how is it buying more hash rate (reinvest on) makes more btc? Seeing the contract stops at .666 btc, seems to me buying more hashrate just speeds up the time to hit the .666 btc and really blowing the earnings seeing we get paid to wait earning .08 sotisih per second mining.
Or does reinvesting add to the .666 debt? Meaning our reinvestment adds to what Bitman has to pay us back..
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anyways here is a question for ya, how is it buying more hash rate (reinvest on) makes more btc? Seeing the contract stops at .666 btc, seems to me buying more hashrate just speeds up the time to hit the .666 btc and really blowing the earnings seeing we get paid to wait earning .08 sotisih per second mining. Or does reinvesting add to the .666 debt? Meaning our reinvestment adds to what Bitman has to pay us back..
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Yes, all the profit that you earned from each block mined gets added to your principal amount, then the next block takes the amount of profit you earn times the outstanding principal amount, which is now higher than .666. Basically you are compounding your profits.
Yea that was me anyways here is a question for ya, how is it buying more hash rate (reinvest on) makes more btc? Seeing the contract stops at .666 btc, seems to me buying more hashrate just speeds up the time to hit the .666 btc and really blowing the earnings seeing we get paid to wait earning .08 sotisih per second mining.
Or does reinvesting add to the .666 debt? Meaning our reinvestment adds to what Bitman has to pay us back..
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anyways here is a question for ya, how is it buying more hash rate (reinvest on) makes more btc? Seeing the contract stops at .666 btc, seems to me buying more hashrate just speeds up the time to hit the .666 btc and really blowing the earnings seeing we get paid to wait earning .08 sotisih per second mining. Or does reinvesting add to the .666 debt? Meaning our reinvestment adds to what Bitman has to pay us back..
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so whats with the maintenance to pps %
Does that mean if it has 85% means that 85% is used toward maintenance?
Humm
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example
https://www.hashnest.com/hash_currencies/24/income
are u lord icon i see u at there chat haha , at any rate, pps means they pay u once a day one large sum.( umisoo, s2)Does that mean if it has 85% means that 85% is used toward maintenance?
Humm
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example
https://www.hashnest.com/hash_currencies/24/income
ppls ( the rest of the gear) pays and charges fees block to block. the longer the block takes the more it eats up ur block profit and yes it can be negative . fast blocks mean more for sats for us. so yes pps 85 percent means it charges 85 percent fee, and ppls mode is just the overall maintee fee avergage out.
so whats with the maintenance to pps %
Does that mean if it has 85% means that 85% is used toward maintenance?
Humm
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example
https://www.hashnest.com/hash_currencies/24/income
Does that mean if it has 85% means that 85% is used toward maintenance?
Humm
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example
https://www.hashnest.com/hash_currencies/24/income
Got a question, might had been answered already but if we buy on the market say an S5 or something for x amount of gh/s do we keep that until we sell it or becomes unprofitable, its not a contract is it? Not talking about the Pacmic contracts ..
Thanks
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yes buying at market when the order gets executed it will appear in ur act . shop will take 3 days. reguarding the market , yes u can buy it and sell it as u please. when it becomes unprofitable u can pay for shipping and they will send u a machine for every 1155 ghs u have of s5, it will be a different amt for other machines. Thanks
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Got a question, might had been answered already but if we buy on the market say an S5 or something for x amount of gh/s do we keep that until we sell it or becomes unprofitable, its not a contract is it? Not talking about the Pacmic contracts ..
Thanks
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Thanks
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Should be around an 8.5% APR, will have to double check my spreadsheets though to make sure that is about right.
Hashnest website says annualized ROI is 25.2288%, so either they are guilty of false advertising or your calcs are way off.
Here is my spreadsheet...
https://docs.google.com/spreadsheets/d/1zbKKyXtW0vcfGDufk_UIRg_gAi0JzjsFwvB7LGj8bOI/edit?usp=sharing
I am not getting to the 25% APR, perhaps I have an error? Can anyone correct my calcs for the V2 and V3?
So your 7% is based on the 107 days your contract ran. If it had ran for a full year, hence an "Annual Percentage Rate" it would be around 25%.
No, the 7% is the annualized rate for the V2, on the next tab for V3 the annualized is 12.73%.
I think the 25% comes from if the same amount of profit was paid as the first block of every contract, for every block. That gets me to around 25% I believe, but that is not really a fair way to evaluate the asset.
As always, you've out-mathed me! ;-) Thanks for the analysis.
No no, please scrutinize. I think my math is correct, but it just seems so far off from what Bitmain says that I am skeptical. If I am right, then they are advertising way over what that asset should be showing as a APR.
I think they take the "auto-Rebuy" feature. If we can re-invest the proceeds, it may reach much higher APR than 12.73%, but I have not done the model yet.
My poor math skills besides, 12% APR is an amazing rate for a suitably benign risk. We've become spoiled, perhaps, with the returns that can one can reap in the world of cryptocurrency.
I was pleased with the V1, so I'll give V3 a shot.
(I'll fire up a Google sheet this week and see what I come up with...)
I was pleased with the V1, so I'll give V3 a shot.
(I'll fire up a Google sheet this week and see what I come up with...)
Should be around an 8.5% APR, will have to double check my spreadsheets though to make sure that is about right.
Hashnest website says annualized ROI is 25.2288%, so either they are guilty of false advertising or your calcs are way off.
Here is my spreadsheet...
https://docs.google.com/spreadsheets/d/1zbKKyXtW0vcfGDufk_UIRg_gAi0JzjsFwvB7LGj8bOI/edit?usp=sharing
I am not getting to the 25% APR, perhaps I have an error? Can anyone correct my calcs for the V2 and V3?
So your 7% is based on the 107 days your contract ran. If it had ran for a full year, hence an "Annual Percentage Rate" it would be around 25%.
No, the 7% is the annualized rate for the V2, on the next tab for V3 the annualized is 12.73%.
I think the 25% comes from if the same amount of profit was paid as the first block of every contract, for every block. That gets me to around 25% I believe, but that is not really a fair way to evaluate the asset.
As always, you've out-mathed me! ;-) Thanks for the analysis.
No no, please scrutinize. I think my math is correct, but it just seems so far off from what Bitmain says that I am skeptical. If I am right, then they are advertising way over what that asset should be showing as a APR.
Should be around an 8.5% APR, will have to double check my spreadsheets though to make sure that is about right.
Hashnest website says annualized ROI is 25.2288%, so either they are guilty of false advertising or your calcs are way off.
Here is my spreadsheet...
https://docs.google.com/spreadsheets/d/1zbKKyXtW0vcfGDufk_UIRg_gAi0JzjsFwvB7LGj8bOI/edit?usp=sharing
I am not getting to the 25% APR, perhaps I have an error? Can anyone correct my calcs for the V2 and V3?
So your 7% is based on the 107 days your contract ran. If it had ran for a full year, hence an "Annual Percentage Rate" it would be around 25%.
No, the 7% is the annualized rate for the V2, on the next tab for V3 the annualized is 12.73%.
I think the 25% comes from if the same amount of profit was paid as the first block of every contract, for every block. That gets me to around 25% I believe, but that is not really a fair way to evaluate the asset.
As always, you've out-mathed me! ;-) Thanks for the analysis.
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