Warning: New Hashnest Miners (Please Read!)

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: meelmo on May 31, 2016, 08:16:15 AM

Quote from: inget on December 01, 2015, 03:49:12 AM

Hashnest was ok, till a month ago. Their market is manipulated like bitcoin.

The prices are too volatile and some manipulaters are pumping it up and down.

My last days on hashnest are counted.

Could you please elaborate on your assertion a bit more specific? When and how much have the prices been pumped up and down heavily?
I'm just curious and would be interested in further information on your personal thoughts about hashnest. (EDIT: I know this is an older thread already, but newer ones are not focusing on that topic any more so I'd still be interested in that)

The prices are continuously going up and down.
I tried to assess hashnest market prices before and determinedwhen the cheapest prices were. I then shared this with other members of the forum in order to pump prices back up so they stayed the same for the 24 hours (it did work for some time but I gave up as the people manipulating the markets just chose a better time to buy and sell their shares.

meelmo

newbie

Activity: 19

Merit: 0

Quote from: inget on December 01, 2015, 03:49:12 AM

Hashnest was ok, till a month ago. Their market is manipulated like bitcoin.

The prices are too volatile and some manipulaters are pumping it up and down.

My last days on hashnest are counted.

Could you please elaborate on your assertion a bit more specific? When and how much have the prices been pumped up and down heavily?
I'm just curious and would be interested in further information on your personal thoughts about hashnest. (EDIT: I know this is an older thread already, but newer ones are not focusing on that topic any more so I'd still be interested in that)

IanFoxley

legendary

Activity: 910

Merit: 1000

Quote from: jackg on November 30, 2015, 11:09:15 AM

Quote from: btckold24 on November 29, 2015, 05:54:02 PM

I had such bad luck with CEX and roi that i am turned off to cloud mining but I hear good things about hashnest - maybe give it a shot

thx for the warning on early fee's thats probably something they should make very aware to people so they dont panic.

It was very suprising to me too, watching the value I had in there go down (when I bought an antminer s5) and an (antminer S3) with 1 GHs from each, and the 24 hour earning went to ~-0.00001000 after about 2 minutes.

I recently went back an bought 40 s3 GHs contracts and 1 GH S5, went to around -0.00010000 but quicly went to a positive figure,

The reason that happens is that they pay you for each mining block found and the amount you get paid can also vary depending on how long it takes to find that block.

So for example if you just buy some hashpower and it takes a few hours to find a block, the amount you get for the block might be less than the maintenance fee for that particular block so you pay for the electricity etc for that time and depending on things it might be that the maintenance fee was more than what you got paid for your share of that mined block of Bitcoin.
But then you will find that some blocks are found within minutes or less so then you get paid for your share and then because the amount of electricity you have used is lower then you pay less maintenance but what you need to do really do is just let it do its thing over a day and you will find that you will get a positive payout over 24 hours.

Sometimes though with S3 hashpower you might find that the amount you get back each day over 24 hours is less than what you get paid for shares so you get a negative but it does not happen often. Normally that will happen if the pool does not find many blocks over a day, but then you can find the next 24 hours they find above average so over time it all averages out anyway.

inget

member

Activity: 111

Merit: 10

Quote from: btckold24 on November 29, 2015, 05:54:02 PM

I had such bad luck with CEX and roi that i am turned off to cloud mining but I hear good things about hashnest - maybe give it a shot

thx for the warning on early fee's thats probably something they should make very aware to people so they dont panic.

Hashnest was ok, till a month ago. Their market is manipulated like bitcoin.

The prices are too volatile and some manipulaters are pumping it up and down.

My last days on hashnest are counted.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: btckold24 on November 29, 2015, 05:54:02 PM

I had such bad luck with CEX and roi that i am turned off to cloud mining but I hear good things about hashnest - maybe give it a shot

thx for the warning on early fee's thats probably something they should make very aware to people so they dont panic.

It was very suprising to me too, watching the value I had in there go down (when I bought an antminer s5) and an (antminer S3) with 1 GHs from each, and the 24 hour earning went to ~-0.00001000 after about 2 minutes.

I recently went back an bought 40 s3 GHs contracts and 1 GH S5, went to around -0.00010000 but quicly went to a positive figure,

btckold24

sr. member

Activity: 434

Merit: 250

★Bitvest.io★ Play Plinko or Invest!

I had such bad luck with CEX and roi that i am turned off to cloud mining but I hear good things about hashnest - maybe give it a shot

thx for the warning on early fee's thats probably something they should make very aware to people so they dont panic.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

I though I'd post this just so people don't fall into the same trap as me a few months ago.

I purchased a contract with a low miner of s3 and it instantly went to a minus 24 hour earning. In a panic I sold them instantly for under market value. What I didn't notice, which I am warning of now, is that Hashnest take a first maintenance payment before the miner reaps any funds, so don't sell straight away like I did!

Topic: Warning: New Hashnest Miners (Please Read!) (Read 718 times)