[CANCELLED] BTCJam HashNest Loan


#1

Howdy Folks:

After the rather painful events at scrypt.cc I’m going to choose a slower and more stable investment platform. This loan is going to net me 4+TH on HashNest which should give me roughly 1btc/month.

Once I get this income stream up and running I’m going to use it to take care of some other responsibilities I have. I’ve got the term set to 12 months to get a decent rate but I should have it paid off in half that time if not sooner.

Thanks,


#2

Would you mind showing your math on that?


#3

I asked someone who is invested in HashNest, I couldn’t find an online mining calculator. How much do you figure 4 (and change) would get me? Might affect weather I activate the loan or not.


#4

Yes, you get around 1btc per month, but also you have to reduce the maintenance cost per day $0.001175
This mean 60% are fees.
Fees are in $, when btc goes down then % goes up.


#5

So I’m looking at roughly 0.5-0.6 per month net?


#6

1btc income and 60% fees is 0.4btc what you can get, depends on pool luck, dif, exchange rate
its better to calculate with an lower amount
also dont forget trading price in hashnest, when he is going also down then you have no profit


#7

Use

https://bitcoinwisdom.com/bitcoin/difficulty

Put “4” in the TH/s box on the right side. You get ~1 BTC before fees per month at current difficulty and current exchange rate.

You are not saying if you’re buying S5 or S7. S5 fees are ~60%, so you’d get ~0.4 BTC after fees. S7 fees are ~30% so you’d get ~0.7 BTC after fees. As difficulty increases your earnings will decrease. If exchange rate goes up or down your earnings will increase or decrease (because fees are in USD).

Difficulty is adjusted every two weeks and recently has gone up 4%+ twice in a row, so that’s a ~9% drop in earnings before fees just this last month.


#8

But like @gotram said that’s before HashNest deducts maintenance fee. The real number (based on the current difficulty) is more like 0.4 to 0.5 BTC per month for the next 2 weeks.

@LogicalParadox you should aim at buying S7 power if your loan fills. Do not invest the loan into S5 power!


#9

I will also say be careful for fluctuations, some days it is great, sometimes it is :hankey:

This chart kinda shows what I mean. Payouts vary day to day, the furthest I predict payouts is the next day, a full month is just a guessing game, or loosely put an estimate IMO.


#10

The loan is getting closer to 100% (currently 87%) and it looks like the only choice I have is to cancel the loan and set a new one to purchase an S7 (about 8(ish) btc).

The problem with this is that bumping the loan amount up (to account for Jam fees) will bump up the payments which will most likely overshoot the amount I’ll mine from the S7. Oy vey, can’t win for losing.

Does anyone know of any cloud mining operations where I could hit the 0.7+/month target I need?

I’m not activating the loan unless I know I can make the payments.


#11

Disclaimer: I think borrowing money for this kind of thing is a bad idea.

With that said, you can still take your 5 BTC loan, buy ~5500 GH/s of S5 at Hashnest and make your payments from earnings + selling some GH/s. If you expect the difficulty to slow down and/or BTC exchange rate to go up you might be able to make ends meet eventually.

But you have to be prepared to end up with little or no GH/s at the end or even with part of the loan to be covered out of pocket. BTCJam fees and interest will most likely do that to you, as it is barely profitable even without those added expenses and with an optimistic outlook.

S7 won’t help you much because your payment on an 8 BTC would need to be higher and 4.86 TH/s after fees still won’t make enough.


#12

Yeah, I think I might cancel the loan, if I can’t make the payments on earnings alone then it isn’t worth the headache I think.


#13

Hokie so my loan is 100% funded and I’m still not sure what to do. What about this GHX stuff? I still don’t fully understand it, will that give me the income I’m looking for?


#14

You do what you fully understand… :grinning:


#15

@LogicalParadox - I am still troubled by the language in your loan listing:

I’m looking to get at least 4 (if not more) TH which will net me about
1btc a month. I’ve set the term time to 12 months to give me a little
breathing room (and a better payment/rate) but if all goes well I should
have it paid back in 6 (maybe less seeing as I have about 287gh there
already).

Your Hashnest gross may be about ~1 BTC per month, but your net after maintenance at Hashnest will put your take-home in the ~0.5 BTC per month range, not including any difficulty, BTC rate swings, or just bad mining luck at Antpool. What you call “net” in your listing, and therefore what potential lenders are expecting, is twice what the actual reality is likely to be.

You claim to already have 287 Gh there already. Do the returns on that 287Gh give any indication of being break-even or better in 365 days? If not, why would you (or potential lenders) expect 4Th to behave differently?


#16

I know that, I re-ran the numbers and I’m not going to get anywhere near what I thought I was going to get, that’s why I’m waiting to activate the loan, it was funded 100% almost 2 days ago :stuck_out_tongue:

I’m considering redirecting it to GHX if I can get the kind of income I’m looking for, if not then I’m going to cancel the loan.


#17

Your loan: 5 BTC. You must pay 0.62115 BTC per month.

0.62115 x 12 = 7,4538 BTC. You need ROI = 245 days. :confused:

Continuing the discussion from GHcoin Payouts & Discussion Thread:


#18

Yeah I just cancelled it, there’s no need to hold on to peoples money any longer with no viable alternative.


#19

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