Topic: Hashnest 's newest PACMiC Cloud Mining Contract - page 9. (Read 20700 times)

Yeah, I guess it is partially my fault for not fully reading into the posts and etc. but I think it's deceptive to say "It's 22% annually" because I'm pretty sure 99% of the people would think in terms of 1 contract not in one year. I might as well say that you'll receive 50% ROI in 10 years while ROI per contract would be 1.25%. I guess it's kinda ok then but I'd like sellers of the contract to be more straightforward, if it's 5.5% per three months I am smart enough to multiply it by four on my own.

You should get just over 5% at end of your contract which makes it about 22% a year. What are you saying, it does not deliver that?
Cause according to my calculation, if you keep getting 0.003 BTC every 5 days, u ll end up with 0.054 in 90 days, which is 5.4% on your 1 BTC invested. Since it ll probably take about 100+ days to get your principal back, it does not matter that you ll face diminishing profits towards the end, you should end up with above 5% at the end.

Hi, I've bought pacmic and it was running for 5 days. You say estimated ROI is 22%. So far I've paid back almost 5% in principal and my profit is almost 0.003 BTC. Given that I'd continue at the same rate until the principal is paid in full I'd get 0.06 BTC. That would be only 6% of ROI. However, according to the formula, the closer to the end I am the less profit I will receive, so it'll likely be even less than 6%.

Can I ask some questions?
Why is it that the better the pool does (the quicker the blocks are found) the less profit I receive?
Should I therefore root that antpool would get stuck on blocks to accumulate profit?
Why is it that there had to be some special formula involved instead of, you know, just give like 10% ROI hardcoded?
Because if the principal is paid in 100 days, wouldn't it be simpler just to run 10 more measly days just for profit?
Because the way I see it I've paid 1BTC and I'll get 1BTC with some cents back and that'll be about it.

Dear flyingplows,

User may freely invest with only 1 GH/s in the trading market if you are not referring to PACMiC  
However, we will continue thinking the possible oppurtunities to reach a win-win model.

Thanks!

Are you considering to lower the minimum investment in the future?

Q: what is Auto-Rebuy feature ?
A：After enabling the Auto-Rebuy feature, your payout and profit payments will be used to automatically and incrementally purchase more PACMiC hashrate.
When you disable the feature, mining revenue and profit payments will continue accumulating inside your account balance as usual.

Of course you profit, why would anyone even invest here if at best they would only get what they invested 
look here:

Q:How does the user make profit?
A:Profit is calculated by the formula: unpaid principal (BTC) * 0.7 (satoshis per BTC per second) * time to find a block (seconds). Mining revenue will be prior to pay for the profit, the remaining of mining revenue will be paid for the principal.

Do you understand now? 

Not sure to understand the purpose of that.
I buy a contract and the contract end when the capital have been paid back.
So I buy a contract for 1 BTC and at they end I receive only 1 BTC. No profit??

Not sure to understand. Im sure I'm missing something but will like to understand.

Thanks

Keep innovating Bitmain!

I buy 1 TH/s for 1 bitcoin.  The first block is solved and I am awarded 50,000 satoshi's, of which 10,000 is profit.  I am paid and my contract is decreased by the 40,000 that goes towards principal, leaving my unpaid balance at .99960000, but I now have 50,000 satoshi's in my wallet.  I now buy another contract for 50,000 satoshi's, which is supposed to pay me back 50,000 satoshi's plus profit.  Adding that into my other contract, I now have a contract hashing at 1.00050000, but they only owe me 1.00010000.

Hey man, I will try to explain this to help you out, but I think the way it is working right now is correct.  Forgive me if this gets really confusing.

Ok, first you buy 1 TH/s for 1 bitcoin and are supposed to get paid back 1 bitcoin.  Cool, the contract takes 120 days, you get your 1 btc back, plus some profit, lets say that ends up being .1 btc to make it easy.  So now you have 1.1 bitcoins and can buy another contract for 1 TH/s for 1 btc.  No problem, nice and easy to follow, now lets add in the rebuy option.

I buy 1 TH/s for 1 bitcoin and am supposed to get paid back 1 bitcoin.  After 120 days of reinvesting my profit, my contract now hashes at 1.5 TH/s and I am owed 1.1 btc (it would obviously be more due to compounding interest and all, but for the sake of explanation lets assume).  If each block found were to add the total amount and the principal together, I would now be owed 2.1 btc, which obviously isn't right.  Another way to think about it is...
I buy 1 TH/s for 1 bitcoin.  The first block is solved and I am awarded 50,000 satoshi's, of which 10,000 is profit.  I am paid and my contract is decreased by the 40,000 that goes towards principal, leaving my unpaid balance at .99960000, but I now have 50,000 satoshi's in my wallet.  I now buy another contract for 50,000 satoshi's, which is supposed to pay me back 50,000 satoshi's plus profit.  Adding that into my other contract, I now have a contract hashing at 1.00050000, but they only owe me 1.00010000.

I hope that helps, please let me know if there are any questions.

Something I am not able to find, how many watts are said to be used for each PACMiC in determining how long it stays on for?

Contract Suspension

If after 120 days, a PACMiC has still not recovered the initial capital for its user, and is not mining enough revenue to pay for its own electricity cost (fixed at 0.098 USD per kWh, calculated using an ideal AntMiner S5 hashing at 100% uptime per PPS payout), whether because of difficulty increase or BTC price decrease, the PACMiC will continue paying out for ten days as though it were running, even if the machine is turned off. If these conditions persist for ten continuous days, the contract will be considered temporarily suspended. During the suspension period, mining revenues and profit payments will also be temporarily stopped. If after the suspension period, difficulty has dropped or bitcoin price has risen, making mining possible again, the contract will be reinstated and pick up where it left off.

I guess we wait and see what Janet or rob say about how it works later.

You make a very good point though is it that our hashrate increases or are we just extending the time in which our current amount of pacmic are active by increasing our principal that it needs to pay off before the contract ends.

Again, good question you have... hope Janet or Rob can answer when they get on.

Edit - ahh with the 2nd block the actual hashrate did increase like you said above.  Very nice!

Hmm, that would be awesome if it constantly was rebuying more PACMiC's, I would continuesly be putting more money into this as the returns are pretty good right now, but I am wondering how that will work, especially since they are still only being sold by the 1 btc ea mark.

I have a hard time working out how it would constantly be rebuying PACMiC power.  I really hope it isn't waiting for 1 btc to accumulate before it buys another one.

EDIT:  Some cool new graphs and layout features though, nicely done guys!

Hi DebitMe,

Expect it tonight