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Topic: AMHash1: Cost-Effective Mining Contract - page 85. (Read 304259 times)

legendary
Activity: 980
Merit: 1040
January 16, 2015, 11:19:16 AM
what are cloudminr backed by?

Greed and stupidity.
legendary
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
January 16, 2015, 11:16:53 AM
no but i have heard that warning people away from ponzi schemes is actually a good thing  Huh

Amhash is a mining contact backed by a legitimate company who actually produce and own microchips for producing bitcoin miners.

what are cloudminr backed by?
full member
Activity: 238
Merit: 100
January 16, 2015, 11:07:39 AM
touché  Cheesy I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly  Roll Eyes yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalksearch.org/topic/cloudmining-101-860400

conclusion, yes they are a ponzi  Kiss

touché  Cheesy I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly  Roll Eyes yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalksearch.org/topic/cloudmining-101-860400

conclusion, yes they are a ponzi  Kiss

OK, the people running that thread conclude that it´s a scam and therefore you know for a fact that it´s a scam. That´s very interesting since neither you nor they have any real evidence to prove such a conclusion. But of course it´s easy peasy - they´re guilty until proven innocent. And even if they´re legitimate the constant harrassment and hate campaigns by shills on these threads may drive customers from them so their operation isn´t viable anymore. And they go belly up and therefore must be a scam. It´s called a self-fulfilling prophecy, maybe you´ve heard of that.
legendary
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
January 16, 2015, 10:55:08 AM
Also Mabsark is not my colleague, we are both signed up to the same signature campaign along with either 28 or 48 other people.

I'm not actually participating in the signature campaign. I passed on the opportunity so someone else could take the spot. More advertising. Smiley


after a year of hating signature campaigns and the spam they produce on the forums i finally thought fuck it. hopefully they get banned soon anyway, might as well make 0.1btc back from the company the investment that has caused my biggest loss to date Smiley I still like AM, just don't like my investment strategies  Roll Eyes

edit: sweet, that makes you the fall guy, going around needlessly promoting this ponzi with no gain. I am just a paid pawn....... muhahahaha

these king pin karpeles tails are getting to me  Roll Eyes
legendary
Activity: 826
Merit: 1004
January 16, 2015, 10:51:07 AM
Also Mabsark is not my colleague, we are both signed up to the same signature campaign along with either 28 or 48 other people.

I'm not actually participating in the signature campaign. I passed on the opportunity so someone else could take the spot. More advertising. Smiley
legendary
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
January 16, 2015, 10:45:25 AM
touché  Cheesy I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly  Roll Eyes yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalksearch.org/topic/cloudmining-101-860400

conclusion, yes they are a ponzi  Kiss
full member
Activity: 238
Merit: 100
January 16, 2015, 10:42:10 AM
If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?

nope? you bought the GH and the outcome be that profit or loss

Now that your colleague promoting AMHASH with your signatures is going around threatening people promoting AMHASH´s competition do you think you will be blamed and made a scapegoat when nad if  AMHASH "runs off with the money"?

Mabsark:

Quote
Quote from: picolo on Today at 01:47:57 PM
Apparently only us two members are both paid in GHS to have cloudminr signature below our posts. Yes. Hopefully cloudminr will reopen the signature campaign for everyone, maybe when the price per BTC will recover?

Do you realise that when cloudminr runs off, all those scammed are going to come after you two. If you are not a part of this operation, then you are scape goats. Good luck convincing people of that when cloudminr runs off with the money.



AM have the money, people gave them it in a transaction which was an exchange from BTC to GH held by asicminer. It is THEIR company and it's shareholders funds now to do with as they please.

If Amhash has to terminate the contract due to decreasing bitcoin price and increasing difficulty this is nothing they can control and there are conditions set in the contract that explain the outcome of this scenario to it's users, which they agreed to upon when exchanging their BTC for GH controlled by Asicminer.

Also Mabsark is not my colleague, we are both signed up to the same signature campaign along with either 28 or 48 other people.
see i think you are confusing promoting a ponzi scam and promoting a real legitimate company.... comparing apples and oranges only makes you look stupid.


So you know for a fact that this cloudminr company is a ponzi scam, right? I mean otherwise your above statement makes you look rather stupid to use your own terminology.
legendary
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
January 16, 2015, 10:29:07 AM
If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?

nope? you bought the GH and the outcome be that profit or loss

Now that your colleague promoting AMHASH with your signatures is going around threatening people promoting AMHASH´s competition do you think you will be blamed and made a scapegoat when nad if  AMHASH "runs off with the money"?

Mabsark:

Quote
Quote from: picolo on Today at 01:47:57 PM
Apparently only us two members are both paid in GHS to have cloudminr signature below our posts. Yes. Hopefully cloudminr will reopen the signature campaign for everyone, maybe when the price per BTC will recover?

Do you realise that when cloudminr runs off, all those scammed are going to come after you two. If you are not a part of this operation, then you are scape goats. Good luck convincing people of that when cloudminr runs off with the money.



AM have the money, people gave them it in a transaction which was an exchange from BTC to GH held by asicminer. It is THEIR company and it's shareholders funds now to do with as they please.

If Amhash has to terminate the contract due to decreasing bitcoin price and increasing difficulty this is nothing they can control and there are conditions set in the contract that explain the outcome of this scenario to it's users, which they agreed to upon when exchanging their BTC for GH controlled by Asicminer.

Also Mabsark is not my colleague, we are both signed up to the same signature campaign along with either 28 or 48 other people.
see i think you are confusing promoting a ponzi scam and promoting a real legitimate company.... comparing apples and oranges only makes you look stupid.
full member
Activity: 238
Merit: 100
January 16, 2015, 10:20:10 AM
If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?

nope? you bought the GH and the outcome be that profit or loss

Now that your colleague promoting AMHASH with your signatures is getting desperate and running  around threatening people promoting AMHASH´s competition do you think you will be blamed and made a scapegoat when and if  AMHASH "runs off with the money"?

Mabsark:

Quote
Quote from: picolo on Today at 01:47:57 PM
Apparently only us two members are both paid in GHS to have cloudminr signature below our posts. Yes. Hopefully cloudminr will reopen the signature campaign for everyone, maybe when the price per BTC will recover?

Do you realise that when cloudminr runs off, all those scammed are going to come after you two. If you are not a part of this operation, then you are scape goats. Good luck convincing people of that when cloudminr runs off with the money.

legendary
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
January 16, 2015, 10:05:27 AM
If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?

nope? you bought the GH and the outcome be that profit or loss
full member
Activity: 238
Merit: 100
January 16, 2015, 10:01:52 AM
If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?
full member
Activity: 238
Merit: 100
January 16, 2015, 12:22:28 AM
If the major mining operators plan to continue this cloud mining business much longer I think they better start buying or at the very least holding part of what they mine instead of constantly dumping it. Constantly cratering price results from constantly strong supply and constantly not strong enough demand to absorb it - obviously. If BTC gets stuck below $200 the continuation is predictable. But of course they don´t really give a shit about their customers. It´s just business.
sr. member
Activity: 968
Merit: 250
January 15, 2015, 11:31:17 PM
I bought 2 TH today when BTC seemed to show some signs of life on decent volume but soon got cold feet and dumped it all. Fortunately there was enough amount on the bid to eke out a profit of 2% or so.

Perhaps scalping some dust out of this mess is possible but anything significant, forget it. Unless by some miracle BTC suddenly snaps out of its longstanding moribound trend and stays that way for several days at least.

However; the stupidity of homo sapiens should never be underestimated. Clearly a new batch of idiots arrives at Havelock every day. Just watch them snap up B.SELL. Maybe if Havelock could be persuaded to display say 500% for AMHASH on their page the price would improve.
hopefully he or she   comes to the  bmine thread and complain about payouts , i want to see who it was ,ahaahha.  havelock should take that bs annual yield  off tho. thats a really fuked up  yield system they got.
full member
Activity: 238
Merit: 100
January 15, 2015, 09:33:08 PM
I bought 2 TH today when BTC seemed to show some signs of life on decent volume but soon got cold feet and dumped it all. Fortunately there was enough amount on the bid to eke out a profit of 2% or so.

Perhaps scalping some dust out of this mess is possible but anything significant, forget it. Unless by some miracle BTC suddenly snaps out of its longstanding moribound trend and stays that way for several days at least.

However; the stupidity of homo sapiens should never be underestimated. Clearly a new batch of idiots arrives at Havelock every day. Just watch them snap up B.SELL. Maybe if Havelock could be persuaded to display say 500% for AMHASH on their page the price would improve.
sr. member
Activity: 350
Merit: 250
Honest 80s business!
January 15, 2015, 08:26:37 PM
Well in my books this still doesn't make too much sense, but whatever Smiley I'm sure they did the math right. What I still find highly interesting is that they're able to mine at current BTC prices and difficulty for a profit - with power-wasting gen 3 hardware(!!!) I can only imagine what they'll be able to do with gen 4!!!
full member
Activity: 186
Merit: 106
January 15, 2015, 06:21:15 PM
Anyone here have the trading bot that work for Amhash 1 on havelock? I cannot find one and unluckily I'm not IT base to create 1.
legendary
Activity: 826
Merit: 1004
January 15, 2015, 06:06:49 PM
The price on the 14th was 195.59 USD/BTC and the price on the 15th was 187.77 USD/BTC. Using the chart here, you can see that the payments were based on the price at 8am on both days.
legendary
Activity: 1029
Merit: 1000
January 15, 2015, 05:31:48 PM
Curious how is average on bitstamp calculated. Using bitcoinwisdom site you can just zoom in/out to have whole day at screen and take max and min price, add it, divide by 2. Average at current hour is 197.5 = (161.1+233.9)/2
Anyone have account on bitstamp? Maybe there's average price showed in their new trading interface TradeView.
legendary
Activity: 826
Merit: 1004
January 15, 2015, 05:13:13 PM
The fee is $0.001551/Gh/day and the payout is

Code:
25 / (difficulty * 4.295) BTC/Gh/s

The payout formula is just a simpler version of:

Code:
Hash Rate * Block Reward * ((65535 / 2^48 ) / Difficulty)

The block reward is 25 BTC.
The hash rate is 1*10^9 h/s
The current difficulty is 43971662056.

An even simpler version is:

Code:
5.822 / Difficulty = x BTC/Gh/s

Using the same equation as AM:

Code:
86400 * 25 / (43971662056 * 4.295) = 0.00001144 BTC

For the 15th, the exchange price must have been:

Code:
0.001551 / (0.00001144 - 0.00000318) = 187.77 USD/BTC

For the 14th, the exchange price must have been:

Code:
0.001551 / (0.00001144 - 0.00000351) = 195.59 USD/BTC
full member
Activity: 196
Merit: 100
January 15, 2015, 04:07:36 PM
I think the maintenance fee is $0.001551 not  $0.00163 per GH per day


Yeah, sorry. I quoted the original data, they lowered the maint. fee a few weeks ago. Corrected it.
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