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Topic: AMHash1: Cost-Effective Mining Contract - page 50. (Read 304259 times)

legendary
Activity: 1092
Merit: 1001
Touchdown
^Thank you for the translation.
This is by far and away your best post ever.

byt411 - This is enormously helpful, thanks.  Hope you can stick around and translate anything else that comes through.  As amusing as Google translations are, they just doesn't cut it.
hero member
Activity: 859
Merit: 1000
It does not reply to the basic question: who has the miners?
sr. member
Activity: 378
Merit: 254
^Thank you for the translation.
hero member
Activity: 798
Merit: 1000
As it seems that Rock Xie (http://weibo.com/rockxie) has released the following statement on weibo.com...

Google Translate :-

Quote
Too many people ask, what unified response.

At 17:24 on March 3, 2015

AMHash is RockMiner and AsicMiner cooperation projects, RM equivalent of AM's underwriters, the force responsible for the operator to sell, as well as the construction and improvement AMHash platform, responsible for depositing after dividends, to answer customer questions. Because at that time had no money RM production machines, began to take an asset-light line, specialized in sales and service, just roast cat also sell power demand cloud count, so this project started. About AMHash things, the current best solution is still the cat appeared, such as grilled deal with the matter. The company now Dumen AM through legal channels or the like on the basic does not make sense, if effective, we would have done. The key is to find the most grilled cat on dividends up to any aggressive behavior irrational have no significance.

After problems with mine, we do not timely disclosure, there is a reason. AM and mine was still in negotiations, and also mass production machine, grilled cat in Inner Mongolia and Ningxia, said soon deploy a new force calculation, these three points will soon make up more p. That is equivalent to the time it is just a small thing, on which the AM will fill the vacancy losses, dividends, and has no effect, because the dividend is 100PPS, as long as there is money there is no problem points, the public announcement, but also bring some unnecessary trouble.

The dividend was set aside money in our hands, probably only to about January 10, all others have been paid to AM, these are payment records. We never thought that the link between grilled cat suddenly not on, while other companies were AM but no matter what happens, even Williams told me that he did not hand access to the company's purse, wallet in hand roasted cat all have to wait roast cat.

Many people are very anxious, always ask AM is not running, say mine is also dismissed. I want to say is how to run on foot? AMHash for AM it is not a lot of money, we had the budget support to the end of the contract, as long as it is estimated less than 2500btc, who for this foot? He walked the long run, will not wait until now. Did not even have a family? They also reported the matter at home, but also can not contact him, we are now concerned about his personal safety.

AM removed a test mine, in order to save money, after a month, but also tens of thousands of mines spending, and now there is no demand, naturally dismissed.

The key problem is that there is anything specific roast cat go, and I do not know, an estimated 60 percent come from private business, 40% of it is official pressure, specifically to wait for him to come back before we know.

All problems and other baked cat needs arise, because the hands of other people now have no money.

We also communicate with people and AM, including directors abroad, we discuss solutions, please be patient, and so on.

Source: http://weibo.com/p/1001603816360214946715

I have translated this in the best way possible, so that it is more understandable.

Title: Too many people have asked, so here is a general response.

AMHash is a joint project between AsicMiner and RockMiner. Rockminer is the seller for AMHash, so we are responsible to sell the hashrate, and develop the platform, collect the earnings and send out dividends, and resolve customer queries. This is because Rockminer no longer had any ASICS, and and we could only provide technical support and provide reselling services. Coincidentally, friedcat wanted to sell the hashrate, and so we cooperated and we started this project, AMHash. About the current situation of AMHash, the best way to resolve this would be to wait for friedcat to appear and resolve this. Trying to recuperate funds via law enforcement will be of little to no use, since if we could have done anything, we would've. Now, the key is to find friedcat and have him put up the dividends, and any unrealistic/extreme acts will serve no purpose.

We didn't announce that there were problems in the datacentres for a reason. We were still negotiating with the datacentres/mines, and ASICS being mass produced (< not very sure about this part). Friedcat said that there would be more hashrate deployed in Inner Mongolia and in Hening (和宁), so 3.x Petahashes would be deployed and could fix the current problems. This meant that, friedcat said, there would be no problems as the earnings could be covered and the dividends paid out, and releasing the news would just cause unnecessary panic.

Many people were panicking, asking if AsicMiner had run for it, and asking if the mining farms/datacentres had been shut down. How are we going to run for it? AMHash is not a lot of money to AsicMiner, and after our calculations, we only earn around 2500BTC. Who would run for this? If we wanted to run for it, we would've done so a lot earlier, and we wouldn't wait until now. Would we abandon our families? friedcat's family also reported this to the police, but we still can't find him. What we are worried about is his safety.

AsicMiner stopped some test mining farms/datacentres, since they were too costly to continue operating, and so, it is natural to shut them down.

The key point is, what happened to friedcat, even I don't know. My guess would be 60% personal issues, 40% work problems. We would only know when he comes back.

I am still talking to people from AsicMiner, including overseas shareholders. We are looking for a solution, please wait patiently.

Note: Some translations may be incorrect, such as we/I/they, since I did this in a rush and my Chinese isn't perfect, especially if I am reading Simplified Chinese.
sr. member
Activity: 420
Merit: 500
Message from Friedcat
sr. member
Activity: 378
Merit: 254
Allrighty Smiley

  ~Happy Investing!
hero member
Activity: 859
Merit: 1000
Hahahaha, sorry I do not talk to people who either have no brain or do not know how to use it. End of conversation.
sr. member
Activity: 378
Merit: 254
I do not think it is going to be the investors who lose their investments. After all they do not operate in empty space, they need their credibility to do more business etc. Your reasonig can be simply summarised that Asicminer and Rockminer are stupid greedy idiots and will just leave this as it is. It is not going to be left like this.

No, my reasoning could be simply summarized as "YOU are the stupid greedy idiot, Anon going by friedcat has your money & is farting through silk somewhere."  Possibly Tahiti.
Nothing stupid about that, and I'm certain his IRL reputation is not tied to his bitcointalk forum nick any more than mine is tied to NotLambchop.

hero member
Activity: 859
Merit: 1000
I do not think it is going to be the investors who lose their investments. After all they do not operate in empty space, they need their credibility to do more business etc. Your reasonig can be simply summarised that Asicminer and Rockminer are stupid greedy idiots and will just leave this as it is. It is not going to be left like this.
sr. member
Activity: 378
Merit: 254
^
Seriously tho, no one in his right mind gives thousands of dollars to a stranger in the street, expecting to see it back, but Bitcoiners send more than that in BTC to Anons in China, through other Anons in Panama, because... Because Bitcoin!!TM

And then preach to each other how "you don't have BTC unless you exclusively control the private keys," lol.  Yeah, you sure don't.
newbie
Activity: 31
Merit: 0
AMH simply said "sorry brah, we been robbed Sad "  Presto, problem solved Smiley

  ~Happy Investing!
You'd think they have insurance for vandalism/theft.
sr. member
Activity: 378
Merit: 254
Brah, in all the Bitcoin scams, how many Bitcoiners were made whole through intervention by Teh Authorities?
The [alleged] multiple companies involved are probably a bunch of d00ds who've been friends since kindergarten.  Even if not friends & not one single d00d, whoever's involved is dirty enough to not want Teh Authorities involved.  Even if it's something as trivial as tax fraud.

Besides, the "Chinese companies" aren't losing any money.  YOU are the one who is, it's YOUR money that's gone.  AMH simply said "sorry brah, we been robbed Sad "  Presto, problem solved Smiley

  ~Happy Investing!
legendary
Activity: 1092
Merit: 1004
Article on crypto mining blog:

http://cryptomining-blog.com/4463-the-amhash-mining-operation-robbed-of-mining-hardware/#comment-2628

It is a real mess, but AMhash appear to be doing their best for investors Sad
hero member
Activity: 859
Merit: 1000
.@l3sny: Keep dreaming, roundeye.  You going to report this, right?
Where?
What are you going to say, exactly?

"I sent my bit coins through the intertubes to a Canadian d00d who said he was an unlicenced Panamanian exchange, and he tolded me he was gonna give them to an Anon in China calling himself Fried Cat, who promised top make me rich ... and now it looks like my coin is gone"?

You whoever listens to you will die of lel, and you'll be shot (perhaps in China) for homicide, right?
No no no, oh no.
I will do nothing. I do not have to do anything. Someone else in China will do and it has nothing to do with Canada or Panama. There are two Chinese companies involved in it, simple as that. Believe me that someone will do something.
sr. member
Activity: 378
Merit: 254
.@l3sny: Keep dreaming, roundeye.  You going to report this, right?
Where?
What are you going to say, exactly?

"I sent my bit coins through the intertubes to a Canadian d00d who said he was an unlicenced Panamanian exchange, and he tolded me he was gonna give them to an Anon in China calling himself Fried Cat, who promised top make me rich ... and now it looks like my coin is gone"?

You whoever listens to you will die of lel, and you'll be shot (perhaps in China) for homicide, right?

*Also love how every libertard suddenly expects to be bailed out by a nanny state.  A Communist nanny state, in this case.  Guess what, Bitcoiner?  The Chinese authorities aren't your personal army.
legendary
Activity: 3654
Merit: 8909
https://bpip.org
.... or a firing squad as they do it in China.

This could be quite entertaining if they let the shareholders/hashholders do it.
hero member
Activity: 859
Merit: 1000
.... or a firing squad as they do it in China.
sr. member
Activity: 378
Merit: 254
...
they will not get away with it.

A slight possibility of some laughable civil case, resulting in a [equivalent of] $50 fine, but other than that...
legendary
Activity: 1274
Merit: 1004
who is broke? asicminer or rockminer?
they will not get away with it.
Based on the rich history of scammers in the Bitcoin space getting locked up and the key thrown away? Maybe they'll put them in the slammer next to Zhou Tong.
hero member
Activity: 859
Merit: 1000
who is broke? asicminer or rockminer?
they will not get away with it.
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