Hashing24 Trading Room Guide
Updated: Apr 8, 2021
In this post, I will tell you about the Trading Room of the Hashing24 cloud mining service. You will learn how to trade it correctly, what mistakes should not be made and how to correctly assess the profitability of offers.
What is Trading Room?
The trading room is the section on the Hashing24 website where you can put up for sale part or all of your contracts or buy contracts from other users.
This is a user exchange, and Hashing24 takes 5% commission at BTC from each transaction.
Since all decisions are made on this exchange only by you, you can both lose money and increase it.
As you can see in the screenshot, we can use the buttons to select the type of contract, and below are the offers to buy and sell. Below is the interface for placing our order to buy or sell contracts.
In the choice of the type of contracts, there are lifetime and limited in time. Lifetime contracts are not currently being sold on Hashing24, but users still have them and they put them up for sale themselves. Let's start with them.
As we can see, no one has placed an order to buy such contracts, but there are a lot of offers for sale. The cheapest contracts are at the top of the list, and the most expensive at the bottom.
That is, when buying, you need to pay attention only to the topmost contract.
The most profitable contract has the following parameters:
It costs 0.01400000 BTC
Lifetime contract Duration
0.00033 USD Maintenance fee
Such a contract was most likely sold on Hashing24 in 2017-2018, when the maintenance fee of $ 0.00033 for 1 GH/s was normal.
But now it is extremely high. At the time of this writing, February 23rd, my contracts brought me 0.00000670 for 1 TH/s, 0.00000067 for 100 GH/s.
Then the contract for 400 ghs should charge 0.00000268 BTC, but as we can see, he charged only 0.00000024 BTC.
That is, a service charge of $ 0.00033 for 1 GH/s took 244 out of 268 satoshi and left us only 24 satoshi.
Let me remind you that the contract costs 0.01400000. Thus, if the price for Bitcoin remains the same and the difficulty also does not change (this will not happen), we will pay back the contract in 58,333 days or 159 years. It's a long wait, isn't it?
But not everyone understands these calculations and sometimes there are buyers even for such a contract. In this case, they simply donate their BTC, without receiving anything in return.
This contract was sold a little later and the service fee is half here compared to the 0.00033 lifetime contract.
The topmost contract is the best price.
For 0.00198999 BTC we are offered to buy 100 GH/s.
Also, do not forget that the contract has its own maintenance fee - $ 0.00017 for 1 GH/s.
That is why such a contract earned 0.00000035 BTC over the previous day, not 0.00000067. Thus, with stable values of the network difficulty and bitcoin price, we will pay back our purchase in 5685 days or 15 years. Expensive again? But there were buyers for that! They make a miscalculation and lose their money.
As you can see, on February 10, someone bought 2100 GHs for 0.04200000 BTC! Now he receives 735 satoshi per day and will pay back his purchase in 5714 days. It's sad.
But on the left there are also buy orders. Above - again the most profitable offer.
The minimum buy or sell volume in the Trading Room is 100 GH/s, and for buy orders the highest value is 10157 Satoshi.
This way you can sell your 100 GHs for 10157 Satoshi. The buyer of your contract paybacks it in 290 days or simply resell it in the Trading Room for several times more BTC.
Conclusion for Lifetime contracts
Lifetime contracts in the Trading Room are just a trap for beginners who do not understand how to trade and evaluate the value of contracts correctly.
There are currently no such contracts for buying or selling
Limited 0.00015 Sell List
At the moment, a lot of trading is conducted in this section. Mostly thanks to me. Bold are my buy and sell contracts. About why I set such prices and what I am guided by, how much I earned on trading - I will tell you in another post, a little later.
1 TH/s * d, BTC - what is it?
Let's shorten this name to "1TD" and in the future we will use it that way.
1TD is the bitcoin value that the contract must mine in 1 day for 1 TH/s
As usual, the most profitable contract to buy is the top one. And this is my sell order.
Last day, 1 TH/s mined me 393 satoshi, already minus the service fee.
It turns out that everything is correct. 1TD costs 385, the contract income for 1TH/s was 393, which means that if we multiply 0.00000393 * 1.8 TXs * 186 days, we get 0.00131576 BTC, and we only need to pay 0.00128898 BTC.
It turns out that for 186 days our profit will be 0.00002678 BTC.
Profitable! But no.
During these 186 days, the difficulty of the bitcoin network will increase several times and our income will fall. In addition, if the price decreases, the proportion of maintenance fees will also increase and further reduce the daily contract charge.
Buying such a contract is not profitable for a new user. But there are those who buy not only at the best price of 385 1TD, but also at an even higher price!
In this post I will not show the history of my trading, but I will do it later, follow the news. But I can say that my most successful sale was at the level of 7500 1TD. Thanks for the bitcoins.
Limited 0.00015 Buy List
At the moment, I have an order for 51034 satoshi with 1TD 0.00000007. What does it mean?
This means that if a new user is disappointed in his contract and wants to sell it, he may think that he will get 51034 satoshi for 100 GH/s. But no, he will only receive 7 satoshi * 0.1 * number of days. In fact, if ever the order is triggered (no triggers yet), I'll get free power. This is also a beginner trap.
Limited 0.00014 Buy List
There are also no sell orders in the limited 0.00014 tab, most likely these contracts have already expired long ago. Why do I think so? Because I would gladly use the buy orders on the left to sell such a contract if I had.
Let's imagine that I have 1000 GH/s of such a contract.
In the uppermost, and therefore profitable, order, the potential buyer considers that 1TD of such a contract is 200,000 Satoshi. Thus, if I had such a contract for 100 days, for example, only 100 GH/s, I would sell it for the price of 0.00200000 * 100 * 0.1 = 0.02 Bitcoin. But of course, I cannot sell it for 0.02 BTC because the order is capped at 0.00056000 BTC.
But this would also be an excellent offer for 100 GH/s, because 100 GH/s with such a fee for daily maintenance mines about 40 satoshi per day. The buyer is willing to give 56,000 satoshi to collect 4,000 satoshi in 100 days.
This is a mistake, but which will lead nowhere - users no longer have these contracts.
And this is already a tab for existing contracts. Hashing24 currently sells them in its store and users can trade them in the Trading Room immediately after purchase.
These are my calculations for a 12 month contract, 1 TH/s, with a maintenance fee of $ 0.00003 per 1 GH/s.
If the difficulty of the bitcoin network grows by 2% on average over the period, then the investment in such a contract will be zero. I don’t buy such contracts. But let's take a look at what happens to them in the Trading Room.
As we can see, the most profitable order of 600 GHs brought its owner 252 Satoshi yesterday, which means that 1000 GH/s or 1 TH/s would bring him 420 Satoshi. This is not entirely true, it seems that the contract did not work all 24 hours. The profitability of such a contract for 1TH/s is now 615 satoshi per day.
But the indicator of 1TD order is 692. This means that if we buy such an order, we will immediately loss money. We will mine 615 satoshi per day, and even less when the network becomes more difficult.
But even such contracts have their own newbie buyers who do not know how to count money.
Let's not talk about buy list orders - in fact, there are only traps.
Limited $0 Maintenance
Unfortunately this listing is just broken.
I suppose sell orders cannot be placed as the system generates an error. At the same time, you can sell your contracts. But this will simply lead to the loss of the contract.
As an example - here's a screenshot.
Although the 1TD indicator in this order is 100,000, that is, the future buyer wants to earn 100,000 bitcoins per day for 1 TH/s (haha), it is limited to 0.00001000 BTC.
That is why, when selling, the user gave 100 GH/s of power for 1000 satoshi. For the new owner of such a contract, it will pay off in 15-20 days.
The trading room of the cloud mining service Hashing24 is a complex system where you can both multiply your money and get almost free power, or lose money on your mistakes.
I hope this article was useful to you and you can avoid bad purchases or donate your hashpower to trap orders.
I hope these articles will help you make the right decisions and make your investment profitable.