FAQ of PACMiC 2020

Q: Can the PACMiC be sold or transferred to other users?

A: No, PACMiCs may not be traded on the exchange.

Q: Do PACMiCs deduct electricity and maintenance fees?

A: PACMiCs do not deduct electricity or maintenance fees, the payment of which is assumed by HashNest. All mining revenue from the contract is used in the repayment of principal and in making profit payments.

Q: Can I redeem my PACMiC before contract expiry?

A: No. The contract will be closed automatically at the time that the principal has been repaid in full. Contracts may not be terminated prior to this.

Q: What is the repayment period to profit ratio like?

A:  The repayment period is dependent on the difficulty level of the Bitcoin network and Bitcoin price. Assuming a stable network difficulty, the PACMiC initial cost can be paid back in approximately 181 days. Estimated annualised return on investment is 18.36% (Base on mining difficulty on 27 April 2020 and BTC/USDT 7000).

However, due to the unpredictable nature of the network difficulty, it is impossible to accurately predict the exact length of time repayment will require.

Since releasing our first product in November of 2013, HashNest has always concerned itself with ensuring that users are able to earn a profit and that payout amounts are accurate. Trustworthiness is a cornerstone of our reputation.

Q: If AntPool experiences bad luck, will this affect profit payments?

A: Profit payouts are calculated using the amount of unpaid initial cost, and are unrelated to the pool luck of AntPool. Changes in pool luck will affect the speed at which the cost is repaid.

Q: How can I make profit?

A:Profit (BTC)=Unpaid principal (USD) * 0.0462% / BTC prevailing exchange rate

Mining revenue will be prior to pay for the profit, the remaining of mining revenue will be paid for the principal. HashNest will make payment from 11:00-15:00 everyday.

Q: When can I get the profit? Where does the profit go?

A:After the payment of your order, your contact will be activated immediately. Profit will be paid next day to your HashNest wallet.

Q: How much can I get after the contract expires?

A: The principal plus the profit. However, the profit cannot be determined before the contract ends.You can find more info at “How does the user make profit?”

Q: When does the contract end?

A: For any one of below situations, the contact will be terminated.

I. Within 365 days from the date of purchase, the contract expires at the moment that the principal has been paid back in full.

II. If due to the decline of bitcoin exchange rate or increment of mining difficulty resulting in the payout is too less to pay back the principal in 365 days from the date of purchase,  we will return the principal in advance and the contact will be terminated after we make the payment.

III. HashNest may return the principal in advance to the owner of PACMiC before the principal has been paid back in full, which will accelerate the payout even more. 

Q: Is the PACMiC really risk-free?

A: Like all forms of bitcoin mining, there is a certain level of risk involved. If network difficulty unforeseeably skyrockets, or if the price of bitcoin drops too much, the AntMiner S19 units backing the PACMiC may not be profitable to run and be forced to go offline, in which case contracts would be suspended (possibly indefinitely) and the user may not recover the initial cost of the miner. However, the AntMiner S19 is currently the most power efficient bitcoin miner available on the market, and would be among the last to be forced to power down under unfavourable market circumstances. It is our comprehensive evaluation that the likelihood of PACMiC holders not recovering their initial cost is indeed quite low. We ask that all users please understand the risks inherent to any sort of bitcoin mining, and also to understand that there is no such thing as a risk-free product.