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 Cloud Mining - Cryptocurrencies

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jack2
post Jul 12 2017, 01:40 PM

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QUOTE(Leon be here now @ Jul 12 2017, 01:36 PM)
first of all thanks raynman for intoducing to us all these deals, I see you have alread help lots of people invest in cloud mining including me.

These open market price of L3,
Just read the T&C but have few question:
-I assume you buy Hashrate contract with no end date, similar to Genesis?
-Or do you actually buy the old 2nd hand Machine? what if it breaks down in 90days?

T&C states:
"If mining farms may no longer continue operating due to change in legal status, war, earthquake, fire, electricity failure, or other acts of God, Hashnest does not assume responsibility for compensation"

Meaning if they say their factory got burn down after a month coz if shitty electricity wiring, they will not compensate, Im assume they dont disclose where the miner is located?
What happens to your 90MHS? and 29LTC?

Using your example
Hashate MHS 90
Cost LTC 29.7698
Payout Total LTC 0.42032576
Maintenance LTC 0.0121640

My calculations are as follow:
your 90MHS consumes 144 Watt (L3 is 250mhs with 400watt)
us0.07 electric and maintenance fee per kw/h
Units per month 104
USD per day 0.24192 fee ?
USD per month 7.25 fee

But your screen shows
Maintenance LTC 0.0121640 which is about USD 0.52 ???
even if you divide 0.52 by 3 days since you run its still USD0.173?
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You are too calculative than me... walao... It is very hard to proceed further if you count this.

I never go into such detailed analysis. The most important ratio for me is the ROI and breakeven.

I wonder why you wanna go to calculate the electricity fee and the maintenance since it is beyond your control and you can't go to talk with Bitmain to tell them

hey, your price is expensive and can you reduce?
jack2
post Jul 12 2017, 02:19 PM

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QUOTE(Leon be here now @ Jul 12 2017, 02:09 PM)
to each his own.

Yes agree most important is ROI
ROI = (Gross income- FEE) / Total Investment * 100

I already put 90mhs, and 144 watt, and 0.07c electric, and 1% pool fee, in the online calculator, and ROI is about 6 months in theory
Just want to confirm with raynman if thats what he is getting.

As I cant workout raynman phone app if hashnet is showing similar figures on Payment and Fee which effects ROI, I cant figure it out thats why I asked him.
That is a fair question would you not agree?
No one will try to haggle with bitmain on fee price, this is not basak malam.

Online calculator ROI is one thing, and actual ROI is another thing,
Im sure you know this as well

And also in the unlikely circumstance the machine burns down after a month you rugi your 29 LTC?
or are you buying Hashrate like genesis, the T&C is not clear.
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I don't do so complex calculations and thoughts like you did.

What I did yesterday, I asked raynman to show me his daily income on Hashnet he received and I can work out if it is within my expectation.

I go ahead liao...

Btw, you must be 60-an?
jack2
post Jul 12 2017, 02:25 PM

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QUOTE(raynman @ Jul 12 2017, 02:19 PM)
I am totally aware of this clause.

It is a risk I am willing to take.

You, on the other hand, is just too risk-adverse to really venture big into anything. Scared this scared that.
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This one is same as we bought from Giga-Watt?
jack2
post Jul 12 2017, 02:30 PM

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QUOTE(raynman @ Jul 12 2017, 02:29 PM)
Nope.

The one offered by HashNest/Bitmain for cloud mining is the January 2017 model called L3.

What we will be getting at GigaWatt is the enhanced new April 2017 model called L3+ with double the hashrate.
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So the contract we bought from Hashnet is also L3 right?
jack2
post Jul 12 2017, 02:36 PM

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QUOTE(raynman @ Jul 12 2017, 02:34 PM)
Yes, correct.

But it really doesn't make any difference.

We are buying HASHRATE for the Scrypt mining algorithm, not the model of the miner.

The hashrate output is the SAME per MH/s whether it is using the L3 or the L3+.
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if same hashrate, why L3 has 5 months break even while L3+ is 2 months?
jack2
post Jul 12 2017, 02:46 PM

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QUOTE(denimblue @ Jul 12 2017, 02:40 PM)
It is quite susah to explain to jack2.
He is not smart enough to completely understand what you say.  biggrin.gif
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haha.. coz i didnt go to study.

I care about my daily trading nia. icon_rolleyes.gif
jack2
post Jul 12 2017, 02:47 PM

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QUOTE(raynman @ Jul 12 2017, 02:39 PM)
Aiyah  doh.gif

The L3+ has double the hashrate (504 MH/s) over the L3 (250 MH/s).
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Even double the hashrate, the price we are paying also double. So ROI should be same but why L3+ has 1.8% daily ROI?

Takkan L3+ is sold at the same price of L3 but given double hashrate?
jack2
post Jul 12 2017, 02:50 PM

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QUOTE(denimblue @ Jul 12 2017, 02:47 PM)
I was just joking with you. No hard feelings. biggrin.gif
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I know. We are friends mah... We have the same interest to earn money via cloud mining.
jack2
post Jul 12 2017, 03:08 PM

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QUOTE(tcw90 @ Jul 12 2017, 02:57 PM)
» Click to show Spoiler - click again to hide... «


Based by your purchase on hashnet, one MH/s is cost at  23.681 LTC / 70MH = 0.3383 LTC.
In gigawatt, the cost for L3+ is 51LTC. If calculate based by cost per MH/s from hashnet, 0.3383 LTC * 504MH = 170.5LTC.

Of course the L3+ in gigawatt has more daily ROI.
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QUOTE(denimblue @ Jul 12 2017, 02:59 PM)
You are a mathematical genius!  biggrin.gif
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Wow.. but your comparison is confused. Let me re-phase.

Should be this way..

Cost of 1MH/s with Hashnet = 0.3383LTC
Cost of 1MH/s with Gigawatt = 51LTC/504 = 0.1011 LTC

People may think that buying from Gigawatt is worth but bear in mind that the contract in Hashnet can be resold.

This post has been edited by jack2: Jul 12 2017, 03:09 PM
jack2
post Jul 12 2017, 03:12 PM

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QUOTE(Ch3n_low @ Jul 12 2017, 03:10 PM)
now doing some research from cloud mining bro... haha... which coins is best to mine now bro... can cover the mining fees
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We have a lot of investments here. Tell us your budget and we will introduce you based on your budget and risk profile. laugh.gif


jack2
post Jul 12 2017, 03:28 PM

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QUOTE(raynman @ Jul 12 2017, 03:22 PM)
Not so simple as that.

You forgot to factor in the cost of the tokens required to host one L3+ miner. laugh.gif
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Ops.. Alamak.. Let me re-do


Cost of 1MH/s with Hashnet = 0.3383LTC

Cost of 1MH/s with Gigawatt

Miner: 51LTC/504 = 0.1011 LTC
Token: 880 token x $1.10 = $968

Assuming 1LTC = $43
Hence, 968/43 = 22.5 LTC

Total
51+22.5 / 504 = 0.1458 LTC
jack2
post Jul 12 2017, 04:18 PM

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QUOTE(Ch3n_low @ Jul 12 2017, 04:00 PM)
Budget around RM1k still affordable for me
Read about Bitcoin Mining Starter pack at Genesis Mining for $30... seem like very cheap but how is the profit haha
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QUOTE(cofin @ Jul 12 2017, 04:15 PM)
Its around 5.40 USD per month ROI for the $30 Genesis Mining Bitcoin .....as i got try on it

most of the cloud mining i guess require +/- 6 months to ROI

but what beyond my expectation is Ethereum cloud mining ...the payout drop rate is too fast and the price of coins also its a joke
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Cofin is correct.

Genesis's ETH is WTF and now the break even period is 2X.

Better for for Hashnet or hashflare.
jack2
post Jul 12 2017, 04:28 PM

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QUOTE(Ch3n_low @ Jul 12 2017, 04:25 PM)
so for beginner which platform and which plan is most affordable to start and with best ROI ? I am going to start small, now alot of funds stuck in crypto and stock markets
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If you got budget, go for this

1. Giga-watt; capital 51LTC + 880 Token about $980; ROI 2 months + waiting period 3 months = 5 months. Thereafter, monthly get pure $$
2. Hashnest 1Mh/s = 0.3383 LTC, pay back period 4-5 months
3. Hashflare 1MH/s = USD13.50, pay back period 5 months
4. Genesis - X kira... lazy now, more than 6 months.

This post has been edited by jack2: Jul 13 2017, 03:06 PM
jack2
post Jul 12 2017, 04:35 PM

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QUOTE(Ch3n_low @ Jul 12 2017, 04:33 PM)
so the return is payback on the coin you mine or usd?
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Of course the coin itself la. hmm.gif
jack2
post Jul 12 2017, 06:12 PM

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QUOTE(Ch3n_low @ Jul 12 2017, 06:05 PM)
It's okay... better than put FD on bank haha... I just started to try

Bought another btc mining from genesis
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Not a good plan.
jack2
post Jul 12 2017, 07:39 PM

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QUOTE(denimblue @ Jul 12 2017, 06:25 PM)
That is the result of not seeking advice first before subscribing for a cloud mining plan, especially for newbies.
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I have listed the ranking which one should go first but they didn't see it. rclxub.gif
jack2
post Jul 12 2017, 07:40 PM

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QUOTE(sleyer @ Jul 12 2017, 07:33 PM)
how to start mining at Hashnet  ? if i 1st timer and dont have LTC
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You can always buy from me. See my signature.
jack2
post Jul 12 2017, 07:54 PM

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QUOTE(firecrac @ Jul 12 2017, 07:50 PM)
you could buy them using credit card.
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this is +gao gao
jack2
post Jul 12 2017, 11:15 PM

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QUOTE(kievlueen @ Jul 12 2017, 11:11 PM)
Now planning to upgrade , which one should go to ? Seeking opinion here from all sifu .
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Please, what are your existing?

You mentioned to upgrade and who knows what are your existing plan?


jack2
post Jul 12 2017, 11:18 PM

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Half day I got 0.25% ROI

Not bad

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