I've got a question around the approximate expected contracts' return on investment. I'm getting a little confused with how hashing power units are used interchangeably within some of these contracts (MH/s, kH/s, GH/s etc...)
For instance, if we all agree 1 MH/s = 1,000 kH/s, then a 28,000 MH/s Scrypt contract would equate to 28,000,000 kH/s. Now, using a number of different litecoin mining calculators, 28,000,000 kH/s would generate approximately 672LTC per day which as much as I'd like to think it's true, it sounds way too over inflated for the small 0.026BTC required investment for such contract.
Am I missing something out here within my calculations? Apologies in advance if the answer is very straight forward.
Thanks
Topic: [Official] Mintsy.co Thread **150% more SHA hashing for the same price RETRO!** - page 2. (Read 10238 times)
April 08, 2015, 07:51:56 AM
April 08, 2015, 04:08:30 AM
Do you plan a referral program? If yes, how much is the percentage of referral fees?
Willing to participate in testing and attracting referrals to the project.
Where to get a referral link?
Willing to participate in testing and attracting referrals to the project.
Where to get a referral link?
April 07, 2015, 11:06:26 AM
Why my mining contract do not mine?
Days of the contract continues to decrease and not of mining. When my mining contract start mining?
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/1337
Sincerely,
Sergey
Days of the contract continues to decrease and not of mining. When my mining contract start mining?
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/1337
Sincerely,
Sergey
Resolved...
Change a pool- and all works.
April 06, 2015, 06:56:19 PM
Anyone else having issues with delayed start on miner rentals?
This is the second time my rig has been rented and both times there was a 5 minute low hash start. On a 24 hour one I dont worry as much but a 3 hour rental it is hard to make that up.
This is the second time my rig has been rented and both times there was a 5 minute low hash start. On a 24 hour one I dont worry as much but a 3 hour rental it is hard to make that up.
April 06, 2015, 06:50:08 PM
That does not surprise me. If you look at the pool it says it averages 2.2 BTC a day. and with 25 per block it takes about 11 days to hit a block. The is PPLNB so it looks at your actually shares submitted over the past 5 blocks. It does not pay you until it hits a block and it matures.
April 06, 2015, 10:23:42 AM
Why my mining contract do not mine?
Days of the contract continues to decrease and not of mining. When my mining contract start mining?
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/1337
Sincerely,
Sergey
Days of the contract continues to decrease and not of mining. When my mining contract start mining?
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/1337
Sincerely,
Sergey
Mine last payout from mintsy:
BTC Payout 0.00118576 2015-03-30 @ 02:30:05
April 06, 2015, 08:25:56 AM
What is the minimal bitcoin price where you power off your cloudmining?
April 06, 2015, 07:57:47 AM
Why my mining contract do not mine?
Days of the contract continues to decrease and not of mining. When my mining contract start mining?
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/1337
Sincerely,
Sergey
Days of the contract continues to decrease and not of mining. When my mining contract start mining?
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/1337
Sincerely,
Sergey
March 25, 2015, 08:49:33 PM
I did the "today" math on the 100MH's of Scrypt contract for 6 months $949
So Fastcoin on http://www.coinwarz.com was going for an estimated $9.52 a day return
30 days (1 Month) = $285.6
6 Months = $1713.6
So if you were able to maintain the profitability by switching coins (which Mintsy contracts let you mine external pools so you could.) You would get a 75% return at the current rate over 6 months.
Realizing you will likely do a bit worse, or possibly better. It seems to be a decent investment with very little maintenance, and upkeep on your part (no heat, power bill, broken equipment etc.)
The SHA contracts are competitive with the competition. At this time SHA is an expensive power hog, and currently would be difficult to make ROI at "today" prices and diff. Savy miners will make a return utilizing the hash power to mine SHA alts and taking advantage of opportunities that arise.
So Fastcoin on http://www.coinwarz.com was going for an estimated $9.52 a day return
30 days (1 Month) = $285.6
6 Months = $1713.6
So if you were able to maintain the profitability by switching coins (which Mintsy contracts let you mine external pools so you could.) You would get a 75% return at the current rate over 6 months.
Realizing you will likely do a bit worse, or possibly better. It seems to be a decent investment with very little maintenance, and upkeep on your part (no heat, power bill, broken equipment etc.)
The SHA contracts are competitive with the competition. At this time SHA is an expensive power hog, and currently would be difficult to make ROI at "today" prices and diff. Savy miners will make a return utilizing the hash power to mine SHA alts and taking advantage of opportunities that arise.
March 25, 2015, 06:39:33 PM
Don't rent out your riggs on Mintsy.
They do not pay you!
Atleast that's what happening to me!
I'm still waiting for payments for the riggs i rented out.
dating back all the way to 2015-03-09
All i'm getting from support is we are working on it...
Yeah right..
Did you get paid as well? If not PM me. I know I have said it a few times, but the site is still very early invite only Beta. So what does that mean?They do not pay you!
Atleast that's what happening to me!
I'm still waiting for payments for the riggs i rented out.
dating back all the way to 2015-03-09
All i'm getting from support is we are working on it...
Yeah right..
1. Your doing us an all future users a huge favor in helping us finalize the production version!
2. Things definitely will not always work quite as expected, but your feedback is what will make it great.
3. Your going to get paid...The hard part is making sure it all works not only quickly but securely.
Again thanks to all of you who are Beta testing with us!
March 25, 2015, 10:29:01 AM
I also have pending rental payout from 12 days ago and still nothing. I submitted a ticket and they told me they will be doing manual payouts.
I have total 0.2BTC in pending status. This looks like a scam to me!!!
This is their reply from 10 day ago:
Hi Tk*****,
I do apologize for the delay, currently rig rental payouts are done manually and should start processing today. Also these should be switching to automatic payments shortly as well. Thank you for your patience.
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/822
Sincerely,
Mark
Mintsy Support
I have total 0.2BTC in pending status. This looks like a scam to me!!!
This is their reply from 10 day ago:
Hi Tk*****,
I do apologize for the delay, currently rig rental payouts are done manually and should start processing today. Also these should be switching to automatic payments shortly as well. Thank you for your patience.
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/822
Sincerely,
Mark
Mintsy Support
Today I have been payed
, it took 14 days but everything is ok now March 22, 2015, 09:12:02 AM
I also have pending rental payout from 12 days ago and still nothing. I submitted a ticket and they told me they will be doing manual payouts.
I have total 0.2BTC in pending status. This looks like a scam to me!!!
This is their reply from 10 day ago:
Hi Tk*****,
I do apologize for the delay, currently rig rental payouts are done manually and should start processing today. Also these should be switching to automatic payments shortly as well. Thank you for your patience.
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/822
Sincerely,
Mark
Mintsy Support
I have total 0.2BTC in pending status. This looks like a scam to me!!!
This is their reply from 10 day ago:
Hi Tk*****,
I do apologize for the delay, currently rig rental payouts are done manually and should start processing today. Also these should be switching to automatic payments shortly as well. Thank you for your patience.
Ticket: https://mintsy.freshdesk.com/helpdesk/tickets/822
Sincerely,
Mark
Mintsy Support
March 21, 2015, 04:28:13 PM
Don't rent out your riggs on Mintsy.
They do not pay you!
Atleast that's what happening to me!
I'm still waiting for payments for the riggs i rented out.
dating back all the way to 2015-03-09
All i'm getting from support is we are working on it...
Yeah right..
They do not pay you!
Atleast that's what happening to me!
I'm still waiting for payments for the riggs i rented out.
dating back all the way to 2015-03-09
All i'm getting from support is we are working on it...
Yeah right..
March 21, 2015, 03:27:45 PM
so i decided to try it out and bought a scrypt contract, this is the result. note : this hashrate is not from my own miner, but from their contract rigs.
needless to say im a bit apprehensive about buying any more.
needless to say im a bit apprehensive about buying any more.
I bought one too
as its in invite only Beta expect a few glitches here and there. March 19, 2015, 07:04:48 AM
so i decided to try it out and bought a scrypt contract, this is the result. note : this hashrate is not from my own miner, but from their contract rigs.
needless to say im a bit apprehensive about buying any more.
http://iforce.co.nz/i/au0lsurr.c5v.jpg
needless to say im a bit apprehensive about buying any more.
http://iforce.co.nz/i/au0lsurr.c5v.jpg
March 18, 2015, 04:23:47 AM
I augment my physical miners by investing in cloud mining and am considering purchasing mining contracts from Mintsy - I have always found Cryptsy to be trustworthy, so that trust automatically applies to Mintsy (hard to find good cloud mining these days without them turning into scams)
My question when I look at your available SHA-256 contracts is why I should purchase... Reason I ask is because if I calculate based on the duration of the contracts available, I will never ROI or even earn 50% of my investment before the contracts expire. Do you offer, or will you eventually offer lifetime contracts? Or will i be purchasing hoping/expecting that the BTC price will eventually recover and/or appreciate so that the coins I do mine are worth enough to at least cover the value of the contract price?
The selling point that sets Mintsy apart from other cloud mining is the ability to direct the hashing power to external pools.
My question when I look at your available SHA-256 contracts is why I should purchase... Reason I ask is because if I calculate based on the duration of the contracts available, I will never ROI or even earn 50% of my investment before the contracts expire. Do you offer, or will you eventually offer lifetime contracts? Or will i be purchasing hoping/expecting that the BTC price will eventually recover and/or appreciate so that the coins I do mine are worth enough to at least cover the value of the contract price?
The selling point that sets Mintsy apart from other cloud mining is the ability to direct the hashing power to external pools.
March 17, 2015, 07:47:22 AM
messed around with some LKTEC 1TH dragon miners, could not get them to connect to mintsy. Finally noticed you must add the stratum+tcp:// in front of the URL in pool field. On ant S5 you do not, as it adds that to front of every url by default.
March 16, 2015, 07:42:37 PM
Changed the description of how the hashrate is split. End results are the same.
Perfect
March 16, 2015, 05:34:25 PM
do you have a beta user thread going for bug reports? I have found a few glitches and some work arounds. For instance, splitting hash rate between minsty pools on SHA seems to work fine for my rigs, but adding an external pool seems to throw it into 100% rejects. Same external pool will work fine if you point 100% to it. Also many times when do that, it will hang and not work getting all rejects. I have found that restart cgminer on the rig fixes it, and the problem looks like 10.1K diff and all discarded on the rig side. After restart the diff will go to more normal size like 1.1k on my S5's and hashing will resume.. I also catch it on rentals who rent my rig. They try either a non working pool or to split it in a way that puts it in this state. If i do not catch it they can be stuck for hours with zero hashing, restarting cgminer for them fixes.
Solo mining pools also have very hard time if put into a split hash rate, but seem to work ok at 100%. Terraminer rigs seem to work only on mintsy pools, and will not hash on external pool if split or not.
And also I would really like to know if and when rental payments will be released, or what exactly is happening with that?
Solo mining pools also have very hard time if put into a split hash rate, but seem to work ok at 100%. Terraminer rigs seem to work only on mintsy pools, and will not hash on external pool if split or not.
And also I would really like to know if and when rental payments will be released, or what exactly is happening with that?
Hey roger! I'm the dev for the backend of Mintsy here, loved your input on the diff and issues you're having. We're away of the dropoffs and have been getting them a lot on our side of things with the contracts. Have been trying to figure out why its been happening and its been hard because I dont have access to the contract rigs. Going to get Paul to make the vardiff changes on the pool and would love to hear continued feedback from you since you provide awesome detail on these things.
Rental payments will go going out real quick here, the guy writing that stuff is writing up an escrow feature and testing it right now. Users only pay for what they actually get.
Thanks for the reply Matt. I think this issue has something to do with the way stratum works. I might be way off here, but I might see this problem happen in a different way and always has on every pool. If a pool lets you set a min diff on the pool side and you try something very large like 4k on a slow rig and then decide you want to lower it, or even just let it auto determine the diff, so you change it back, on the pool side, it will always stay stuck on the higher diff even 24hrs later if I check the rig and look at what its getting. It is like it can not go backwards for some reason, and you have to reconnect to the pool to fix it. Restart cgminer fixes or even just pulling internet for a few seconds.
You might want to try just dropping the connection and reconnecting, as starting over seems to fix it, if it is indeed a problem with diff being stuck way to high.
March 16, 2015, 04:38:03 PM
Hi - so I love the concept of being able to split up your hash into different pools, but I'm trying to figure out how this is being done.
Is it more of a "round-robin" setup? -- as I'm not aware of any way to take 100Mh/s of Scrypt hash and just divide it up equally.
Would love to hear more about this unique feature!
The hash is virtually split between coins. The how is proprietary.
Virtually split? So - is this a form of cloud mining? A person's machine's hash is sent to your pool and you use that to mine whatever you want. Meanwhile you "cloud" mine the other coins that the person has selected. But in the end -- the user's machines are not actually mining these coins themselves?
Jump to: