Hashnest 's newest PACMiC Cloud Mining Contract - page 4.

nicklello

member

Activity: 193

Merit: 10

Quote from: DebitMe on June 09, 2015, 10:53:12 AM

Quote from: nicklello on June 09, 2015, 10:45:01 AM

I'm convinced... trying to raise funds via BTCJam to buy in.

That I would not do, in fact, your BTCJam loan will probably have higher interest than what you would earn by buying a PACMiC. I highly discourage you from taking a loan to invest, that is a sure fire way to get in real big trouble real fast.

You are quite right... I should have paid more attention to calculating things properly.

I still believe PACMiC looks like a good investment; just got to pull my coins together....

finbad

full member

Activity: 215

Merit: 100

not sure how the interest rate you are going to pay on the BTCjam loan will be less that the return on PACMICv2, and even it is the net positive it will me miniscule, but okay.........

DebitMe

legendary

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Get Paid Crypto To Walk or Drive

Quote from: nicklello on June 09, 2015, 10:45:01 AM

Quote from: DebitMe on June 09, 2015, 08:14:15 AM

Quote from: nicklello on June 09, 2015, 06:33:45 AM

Quote from: ajw7989 on June 08, 2015, 09:59:42 AM

Quote from: nicklello on June 08, 2015, 07:02:36 AM

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

You pay 1 btc for 1 TH. To explain it very simple how it works is when you get your principle (1btc) back the contract ends and the miner is no longer yours. To make you a profit some of the coin they pay you does not count toward this principle so you end up with an ROI. the only way to actually lose money is if the S5 becomes unprofitable while you have the contract. As difficulty goes up it will take longer to pay you back but there is no timer on the contract. Essentially the estimated APY was around 22% I believe but with v2 its more around 14-16%.

Ah! Ok, I get it.... effectively I buy the miner at a reduced cost and HashNest buy it back from me with the interest being the (time * 4.5 Satoshi * amount owed) payment.

What are people's experiences of the 'v1' of this scheme ?

It worked out really well. I have a couple of them that are about 86% paid back and some down to about 55% paid back. They have brought in some income for a fairly safe investment. Have been pretty happy so far.

I'm convinced... trying to raise funds via BTCJam to buy in.

That I would not do, in fact, your BTCJam loan will probably have higher interest than what you would earn by buying a PACMiC. I highly discourage you from taking a loan to invest, that is a sure fire way to get in real big trouble real fast.

nicklello

member

Activity: 193

Merit: 10

Quote from: DebitMe on June 09, 2015, 08:14:15 AM

Quote from: nicklello on June 09, 2015, 06:33:45 AM

Quote from: ajw7989 on June 08, 2015, 09:59:42 AM

Quote from: nicklello on June 08, 2015, 07:02:36 AM

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

You pay 1 btc for 1 TH. To explain it very simple how it works is when you get your principle (1btc) back the contract ends and the miner is no longer yours. To make you a profit some of the coin they pay you does not count toward this principle so you end up with an ROI. the only way to actually lose money is if the S5 becomes unprofitable while you have the contract. As difficulty goes up it will take longer to pay you back but there is no timer on the contract. Essentially the estimated APY was around 22% I believe but with v2 its more around 14-16%.

Ah! Ok, I get it.... effectively I buy the miner at a reduced cost and HashNest buy it back from me with the interest being the (time * 4.5 Satoshi * amount owed) payment.

What are people's experiences of the 'v1' of this scheme ?

It worked out really well. I have a couple of them that are about 86% paid back and some down to about 55% paid back. They have brought in some income for a fairly safe investment. Have been pretty happy so far.

I'm convinced... trying to raise funds via BTCJam to buy in.

DebitMe

legendary

Activity: 2800

Merit: 1012

Get Paid Crypto To Walk or Drive

Quote from: nicklello on June 09, 2015, 06:33:45 AM

Quote from: ajw7989 on June 08, 2015, 09:59:42 AM

Quote from: nicklello on June 08, 2015, 07:02:36 AM

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

You pay 1 btc for 1 TH. To explain it very simple how it works is when you get your principle (1btc) back the contract ends and the miner is no longer yours. To make you a profit some of the coin they pay you does not count toward this principle so you end up with an ROI. the only way to actually lose money is if the S5 becomes unprofitable while you have the contract. As difficulty goes up it will take longer to pay you back but there is no timer on the contract. Essentially the estimated APY was around 22% I believe but with v2 its more around 14-16%.

Ah! Ok, I get it.... effectively I buy the miner at a reduced cost and HashNest buy it back from me with the interest being the (time * 4.5 Satoshi * amount owed) payment.

What are people's experiences of the 'v1' of this scheme ?

It worked out really well. I have a couple of them that are about 86% paid back and some down to about 55% paid back. They have brought in some income for a fairly safe investment. Have been pretty happy so far.

nicklello

member

Activity: 193

Merit: 10

Quote from: ajw7989 on June 08, 2015, 09:59:42 AM

Quote from: nicklello on June 08, 2015, 07:02:36 AM

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

You pay 1 btc for 1 TH. To explain it very simple how it works is when you get your principle (1btc) back the contract ends and the miner is no longer yours. To make you a profit some of the coin they pay you does not count toward this principle so you end up with an ROI. the only way to actually lose money is if the S5 becomes unprofitable while you have the contract. As difficulty goes up it will take longer to pay you back but there is no timer on the contract. Essentially the estimated APY was around 22% I believe but with v2 its more around 14-16%.

Ah! Ok, I get it.... effectively I buy the miner at a reduced cost and HashNest buy it back from me with the interest being the (time * 4.5 Satoshi * amount owed) payment.

What are people's experiences of the 'v1' of this scheme ?

ajw7989

legendary

Activity: 924

Merit: 1000

Quote from: nicklello on June 08, 2015, 07:02:36 AM

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

You pay 1 btc for 1 TH. To explain it very simple how it works is when you get your principle (1btc) back the contract ends and the miner is no longer yours. To make you a profit some of the coin they pay you does not count toward this principle so you end up with an ROI. the only way to actually lose money is if the S5 becomes unprofitable while you have the contract. As difficulty goes up it will take longer to pay you back but there is no timer on the contract. Essentially the estimated APY was around 22% I believe but with v2 its more around 14-16%.

ABCbits

legendary

Activity: 2870

Merit: 7490

Crypto Swap Exchange

Is it better than Bit-X or old Hashnest cloud mining ?
Have anyone review this service, i still need more info before investing

DebitMe

legendary

Activity: 2800

Merit: 1012

Get Paid Crypto To Walk or Drive

It is the exact same this time around as before...

You pay 1 btc, which equates to 1 TH/s of mining power. As blocks are found by Antpool, you get a payout equal to as if you had 1 TH/s of mining power pointed at the pool. There are no electricity or maintenance fees taken out. This amount goes back to you and reduces the amount that they owe you (which was 1 btc). You get profit based on the length of time it took to find that block times 4.5 satoshis times your unpaid principal.

As for whether it is profitable and/or better than anything else. There is no crystal ball. If everyone knew the answer to that, there would be no question, but no one can predict what the future of mining will bring. As with anything, there is a risk involved in buying a PACMiC, the thought is that the risk with these are lower, and therefor you will get less return on your money compared to other investments. Do your own calculations and determine your risk level and what your looking for in an asset/return.

nicklello

member

Activity: 193

Merit: 10

I'm unclear on this PACMIC (v2) service...

It *looks* really good, and I'm keen to invest --

BUT, I'm not clear on the 'pay back' scheme... does this mean I only pay a deposit per TH rather than the full 1 BTC ?

finbad

full member

Activity: 215

Merit: 100

I still like it, stable and quiet.

fredeq

legendary

Activity: 1537

Merit: 1005

Quote from: ajw7989 on June 07, 2015, 09:33:35 AM

Quote from: fredeq on June 07, 2015, 04:55:30 AM

Pacmic v2 just opened.
I was tired of waiting and invested in some S5 and coins just yesterday.

Have to buy extra BTC now Cheesy

Did you look though the formula is changed no longer .7 its .45

Missed that indeed. May buy it just for my curious side though.

TracerX

hero member

Activity: 918

Merit: 1002

Quote from: DebitMe on June 07, 2015, 12:14:36 PM

If I have auto buy turned on for for PACMiC v1, will it buy into PACMiC v2 with the reinvestment?

It doesn't appear to be doing that, no.

DebitMe

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Get Paid Crypto To Walk or Drive

If I have auto buy turned on for for PACMiC v1, will it buy into PACMiC v2 with the reinvestment?

DebitMe

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Get Paid Crypto To Walk or Drive

Quote from: valkir on June 07, 2015, 09:43:23 AM

So the new one will take more than this since the bonus is lower! Undecided

No I think it should take the same amount of time, but you will make less since the profit portion was cut in half. So they were advertising the original PACMiC was around 22% APR, but now it will be closer to 11%. Not really worth it anymore IMO.

valkir

legendary

Activity: 1484

Merit: 1004

So the new one will take more than this since the bonus is lower! Undecided

miki77miki

sr. member

Activity: 476

Merit: 250

stop kidding me

Quote from: valkir on June 07, 2015, 09:36:06 AM

How many time it take to fully get back the value with the pacmic 1 ??

According to https://sites.google.com/site/freebitcoinsforall/ it will take 108 days to ROI (I don't own the site, i'm not sure how accurate it is either)

valkir

legendary

Activity: 1484

Merit: 1004

How many time it take to fully get back the value with the pacmic 1 ??

ajw7989

legendary

Activity: 924

Merit: 1000

Quote from: fredeq on June 07, 2015, 04:55:30 AM

Pacmic v2 just opened.
I was tired of waiting and invested in some S5 and coins just yesterday.

Have to buy extra BTC now Cheesy

Did you look though the formula is changed no longer .7 its .45

fredeq

legendary

Activity: 1537

Merit: 1005

Pacmic v2 just opened.
I was tired of waiting and invested in some S5 and coins just yesterday.

Have to buy extra BTC now Cheesy

Topic: Hashnest 's newest PACMiC Cloud Mining Contract - page 4. (Read 20744 times)