AMHash1: Cost-Effective Mining Contract - page 72.

legendary

Activity: 1092

Merit: 1004

Quote from: danrachita on February 08, 2015, 08:45:36 AM

All of us celebrate new year but first of all we finish our work even we do that in last day.
Some of us also must work even if is new year celebration because peoples need energy,water,gas and need some services to go on non stop.Chinese are hard working people and i dont think eveything is freezed there because the celebration.
I was once again around new year celebration in situation to meet queen Elsa and i hope dont meet her again.
I wait for a withdraw from 29.01 and i make ticket in 31.01 without any answer until now.

#1308 0.012700000 2015-01-29 01:56:16 Completed 0.000000000

I dont think this is a good sign.
Hope to be wrong and i am happy i sold all my amhash speed few days ago.
BR to all.

This is daftest post ever Huh

AMhash owns the Bitcoin Farms in Iceland; they build Bitcoin farms for big investors Shocked

The reason why all the staff are getting extra holidays is self-evident Lips sealed

If, you are unhappy sell your shares at Havelock Tongue

Then, you can buy them back at loss in March, but at a substantial premuim from me Cheesy

ajw7989

legendary

Activity: 924

Merit: 1000

I really hope its just dividends that are being suspended and not the actual miners. Even then they should have told us a month in advance not a day or so before

danrachita

member

Activity: 605

Merit: 10

All of us celebrate new year but first of all we finish our work even we do that in last day.
Some of us also must work even if is new year celebration because peoples need energy,water,gas and need some services to go on non stop.Chinese are hard working people and i dont think eveything is freezed there because the celebration.
I was once again around new year celebration in situation to meet queen Elsa and i hope dont meet her again.
I wait for a withdraw from 29.01 and i make ticket in 31.01 without any answer until now.

#1308 0.012700000 2015-01-29 01:56:16 Completed 0.000000000

I dont think this is a good sign.
Hope to be wrong and i am happy i sold all my amhash speed few days ago.
BR to all.

AirWolf

full member

Activity: 140

Merit: 100

Havelock robbed me 170BTC

Quote from: amhash on February 08, 2015, 02:10:59 AM

Announcement of The Spring Festival Holiday

Dear Customers,

We will pause the transaction and dividends of AMHash from 10th February to 28th February on havelock for The Spring Festival Holiday coming.And we will restart all those things in the beginning of March.

AMHash Team

We need som answers here:

-Are the mining operations going to be suspended?, or are the miners going to work during this time and we will not lose all this days while you "rest"
-If the mining operations are not going to take place, how are you going to compensate the share holders?
-If the mining is not stoping, what is being suspended?, only the post of dividends?
-What do you mean by transactions? do that includes the buy/sell of shares in havelock?

please reply asap.

thevictimofuktyranny

legendary

Activity: 1092

Merit: 1004

Quote from: finbad on February 08, 2015, 07:45:36 AM

Accumulating and deferred is one thing suspended is another. Maybe lost in translation. But is sounds like suspended.

If you have AMhash Gen3 direct with them the message is much clearer:

"Dear Customers, The transfer,dividends and withdraw applications will not approved from 10th February to 28th February for The Spring Festival Holiday coming.We will restart all those things in the beginning of March."

No ambiguity about it, there will no-one around to input dividend details or transfer hash or do the manual withdrawal authorizations Roll Eyes

Almost makes me wish, I was there celebrating the "The Spring Festival Holiday" with them Grin

finbad

full member

Activity: 215

Merit: 100

Accumulating and deferred is one thing suspended is another. Maybe lost in translation. But is sounds like suspended.

flame1012

full member

Activity: 154

Merit: 100

Sharks waiting for the panic sale

thevictimofuktyranny

legendary

Activity: 1092

Merit: 1004

Quote from: AirWolf on February 08, 2015, 07:23:35 AM

Quote from: amhash on February 08, 2015, 02:10:59 AM

Announcement of The Spring Festival Holiday

Dear Customers,

We will pause the transaction and dividends of AMHash from 10th February to 28th February on havelock for The Spring Festival Holiday coming.And we will restart all those things in the beginning of March.

AMHash Team

WHAT THIS MEANS???, Are we not going to get paid for 18 days?

Is this a trick to get the price of the shares down?

Clearly, you are not Asian Huh

Well, nobody's perfect Cheesy

Because, you'd know that Festival and Holidays always come before business in India and China Grin

I'm Sikh, my parents were born just outside of Amritsar; I can tell you Asians will always put the Festivals holidays before business Grin

And, yes everyone's payout is going to be delayed for 18 days Cheesy

No point getting upset about it dude, what is the point of making profits if you never get a chance to enjoy the Festivals Roll Eyes

ajw7989

legendary

Activity: 924

Merit: 1000

Quote from: l3sny on February 08, 2015, 04:50:39 AM

Quote from: amhash on February 08, 2015, 02:10:59 AM

Announcement of The Spring Festival Holiday

Dear Customers,

We will pause the transaction and dividends of AMHash from 10th February to 28th February on havelock for The Spring Festival Holiday coming.And we will restart all those things in the beginning of March.

AMHash Team

Did I miss "sorry for any inconvenience" or they are that rude?

When I saw this I thought it was some kind of joke. How could you suspend something for 3 weeks especially mining. I just reinvested my funds into this and now this crap.

AirWolf

full member

Activity: 140

Merit: 100

Havelock robbed me 170BTC

Quote from: amhash on February 08, 2015, 02:10:59 AM

Announcement of The Spring Festival Holiday

Dear Customers,

We will pause the transaction and dividends of AMHash from 10th February to 28th February on havelock for The Spring Festival Holiday coming.And we will restart all those things in the beginning of March.

AMHash Team

WHAT THIS MEANS???, Are we not going to get paid for 18 days?

Is this a trick to get the price of the shares down?

elasticband

legendary

Activity: 1036

Merit: 1000

Nighty Night Don't Let The Trolls Bite Nom Nom Nom

Quote from: l3sny on February 08, 2015, 04:50:39 AM

Quote from: amhash on February 08, 2015, 02:10:59 AM

Announcement of The Spring Festival Holiday

Dear Customers,

We will pause the transaction and dividends of AMHash from 10th February to 28th February on havelock for The Spring Festival Holiday coming.And we will restart all those things in the beginning of March.

AMHash Team

Did I miss "sorry for any inconvenience" or they are that rude?

it's china, expect a major shutdown of service for 2 weeks in February, the country could not survive unless everyone had the festive holidays to look forward to every year.

l3sny

hero member

Activity: 859

Merit: 1000

Quote from: amhash on February 08, 2015, 02:10:59 AM

Announcement of The Spring Festival Holiday

Dear Customers,

We will pause the transaction and dividends of AMHash from 10th February to 28th February on havelock for The Spring Festival Holiday coming.And we will restart all those things in the beginning of March.

AMHash Team

Did I miss "sorry for any inconvenience" or they are that rude?

elasticband

legendary

Activity: 1036

Merit: 1000

Nighty Night Don't Let The Trolls Bite Nom Nom Nom

Quote from: Crypto.Conyo on February 08, 2015, 03:20:10 AM

Panic Sell mode is on !

Love me a good buying opportunity

Crypto.Conyo

sr. member

Activity: 405

Merit: 250

Panic Sell mode is on !

amhash

full member

Activity: 129

Merit: 100

Announcement of The Spring Festival Holiday

Dear Customers,

We will pause the transaction and dividends of AMHash from 10th February to 28th February on havelock for The Spring Festival Holiday coming.And we will restart all those things in the beginning of March.

AMHash Team

ajw7989

legendary

Activity: 924

Merit: 1000

Quote from: thevictimofuktyranny on February 07, 2015, 05:14:09 PM

Just as a comparison, if you bought a Bitman S5 today as a newbie miner.

S5 is $413
PSU is $110
Raspberry Pi $56
Postage $23

Location USA, 10 cent per a watt.
Average difficulty 12 months 47 billion
BTC average price $225 over 12 months.

ROI is 14.28 months. Block Halving is in 18 months Cheesy

Older miners, may have an existing PSU (11.28 months) or existing PC/Raspbery Pi (12.85 months) or both (10.28 months).

Currently, if you pop over to Havelock and buy some AMHASH1, on these identical variables you're looking at a 7-8 month ROI.

Units producing at 0.2watts per 1GHs are unlikely to out before June this year; you'd have made back most of your investment before difficulty rises towards 49.99 billion. Also, a lot of GPU manufacturers and CPU manufactuerers suffered 4-6 months delays when they went to 16nm fabrication (poor silicon yields equaled delays) Wink

Additionally, (these are highly speculative estimates) because this is guessing at non-public information:

1.2watts per 1GHs 50PTHs is swtiched off, but still setup to be switiched on if BTC price rises.
1.2 watts per 1GHs 60PTHs is in locations were electricity is 9 cent per watt and switches off when difficulty passes 44 billion.

1watt per 1ghs will be switched off at a difficulty of 47.1 billion onwards. This is speculation, but about 160PTHs of this network hashpower is here.

0.7watt per 1ghs will be switched off at difficulty of 67.3 billions onwards. This stuff is quite new and there is about 80GHs of it on the network.

So, there are significant obstacles in place to halt rises in network difficulty Grin

Great math and calculations but did you factor into that at these difficulties most cloud mining contracts and the average user will end however it does not mean the miners will be shutdown since their maintenance fees are usually much lower.

galdur

hero member

Activity: 616

Merit: 500

Another big diff. increase about to hit

Estimated Next Difficulty: 44,283,751,397 (+7.30%)
Adjust time: After 207 Blocks, About 1.3 days

thevictimofuktyranny

legendary

Activity: 1092

Merit: 1004

Just as a comparison, if you bought a Bitman S5 today as a newbie miner.

S5 is $413
PSU is $110
Raspberry Pi $56
Postage $23

Location USA, 10 cent per a watt.
Average difficulty 12 months 47 billion
BTC average price $225 over 12 months.

ROI is 14.28 months. Block Halving is in 18 months Cheesy

Older miners, may have an existing PSU (11.28 months) or existing PC/Raspbery Pi (12.85 months) or both (10.28 months).

Currently, if you pop over to Havelock and buy some AMHASH1, on these identical variables you're looking at a 7-8 month ROI.

Units producing at 0.2watts per 1GHs are unlikely to out before June this year; you'd have made back most of your investment before difficulty rises towards 49.99 billion. Also, a lot of GPU manufacturers and CPU manufactuerers suffered 4-6 months delays when they went to 16nm fabrication (poor silicon yields equaled delays) Wink

Additionally, (these are highly speculative estimates) because this is guessing at non-public information:

1.2watts per 1GHs 50PTHs is swtiched off, but still setup to be switiched on if BTC price rises.
1.2 watts per 1GHs 60PTHs is in locations were electricity is 9 cent per watt and switches off when difficulty passes 44 billion.

1watt per 1ghs will be switched off at a difficulty of 47.1 billion onwards. This is speculation, but about 160PTHs of this network hashpower is here.

0.7watt per 1ghs will be switched off at difficulty of 67.3 billions onwards. This stuff is quite new and there is about 80GHs of it on the network.

So, there are significant obstacles in place to halt rises in network difficulty Grin

thevictimofuktyranny

legendary

Activity: 1092

Merit: 1004

Quote from: DARKANGEL6415 on February 07, 2015, 03:22:35 PM

Quote from: thevictimofuktyranny on February 07, 2015, 01:02:16 PM

Had to do some of the macros for someone on another thread, thought you'd like have a look at it DARKANGEL6415:

Doubling the current difficult would require the additional usage of 26,9565 Bitman S5 ($413 plus PSU plus extras $600) units or their equivalent alternatives.

This would require $161,739,130 this year up front, plus not a single old unit must be decommissioned, however at 44 billion difficulty most of the old 1.2 watt units had to shut off Grin

Therefore, if difficulty doubled, most 1 watt units would have to be shut down and therefore another $161 million would be needed to replace them as well; net $322 million up front costs Shocked

Current Bitcoin price $225 makes this level of new investment impossible, because the profits per Bitcoin are insufficient to fund such investments.

Annual production of BTC this year value at current prices (3600 times $225 times 365 days) $295,650,000.

Most Bitcoins are never available to buy, under 30% reach the open Fiat Currency exchanges, which will be under $88,695,000 to fund hardware, labor and electricity costs. Nowhere, near close enough to fund the doubling of network hashpower.

QED. Difficulty will not double this year, but stay under 50 billion difficulty range Shocked

And

It is a clever piece of macro economics included in Bitcoins and other crypto currencies, to increase difficulty you have to increase capital expenditures up front. This is very cheap at the beginning of the process of establishing a crypto currency, but it becomes ever more expensive as doubling of difficulty reoccurs. Therefore, people can accurately forecast the future difficulty on the basis of price expectations. Roll Eyes

And, yeah this implies manufacturers like AMhash will be there in 2016 Wink

wow awsome i actually enjoyed the read and i even felt a little bit of a tingle of joy as i read this and looked at the numbers. Now granted not all old units will be shut off i know someone who runs a few dozen jalapenos miners. He does this at his college housing where the power and internet are all free since you pay for them in college price. Maybe amhash will find cheaper power or maybe havelock will get cheaper rent or taxes meaning lower fees lol Grin

Yeah, Genesis Mining managed to get a 40% reduction from their electricity suppliers in Iceland in December 2013, which they passed on their customers Shocked

Because, electricity costs in Iceland are such a small part of a Bitcoin Farm's outlay, Genesis Mining Dividend only increased by 5%. The majority of cost of cloudmining in Iceland is based on mining equipment outlay (Genesis SHA256 is around 0.5watt per 1GHs), facilities and labour. Nearly forgot, the manufacturers profit margin Wink

Perhaps, AMhash can do the same, it is all about whether they did a long fixed price electricity deal or a shorter fixed price contract when they finished building their new Bitcoin Farm in October 2013 Shocked

Of course, these are private business matters and it would be pure speculation say anything about non-public deals done by the manufacturers for cloudmining their offerings Roll Eyes

DARKANGEL6415

hero member

Activity: 672

Merit: 500

ADAMANT — the most secure and anonymous messenger

Quote from: thevictimofuktyranny on February 07, 2015, 01:02:16 PM

Had to do some of the macros for someone on another thread, thought you'd like have a look at it DARKANGEL6415:

Doubling the current difficult would require the additional usage of 26,9565 Bitman S5 ($413 plus PSU plus extras $600) units or their equivalent alternatives.

This would require $161,739,130 this year up front, plus not a single old unit must be decommissioned, however at 44 billion difficulty most of the old 1.2 watt units had to shut off Grin

Therefore, if difficulty doubled, most 1 watt units would have to be shut down and therefore another $161 million would be needed to replace them as well; net $322 million up front costs Shocked

Current Bitcoin price $225 makes this level of new investment impossible, because the profits per Bitcoin are insufficient to fund such investments.

Annual production of BTC this year value at current prices (3600 times $225 times 365 days) $295,650,000.

Most Bitcoins are never available to buy, under 30% reach the open Fiat Currency exchanges, which will be under $88,695,000 to fund hardware, labor and electricity costs. Nowhere, near close enough to fund the doubling of network hashpower.

QED. Difficulty will not double this year, but stay under 50 billion difficulty range Shocked

And

It is a clever piece of macro economics included in Bitcoins and other crypto currencies, to increase difficulty you have to increase capital expenditures up front. This is very cheap at the beginning of the process of establishing a crypto currency, but it becomes ever more expensive as doubling of difficulty reoccurs. Therefore, people can accurately forecast the future difficulty on the basis of price expectations. Roll Eyes

And, yeah this implies manufacturers like AMhash will be there in 2016 Wink

wow awsome i actually enjoyed the read and i even felt a little bit of a tingle of joy as i read this and looked at the numbers. Now granted not all old units will be shut off i know someone who runs a few dozen jalapenos miners. He does this at his college housing where the power and internet are all free since you pay for them in college price. Maybe amhash will find cheaper power or maybe havelock will get cheaper rent or taxes meaning lower fees lol Grin

Topic: AMHash1: Cost-Effective Mining Contract - page 72. (Read 304259 times)