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Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 29. (Read 3917468 times)

legendary
Activity: 3066
Merit: 1757
Hi Not Lamb Chop,

You were correct, Lesbian Cow knows when she is wrong.

Good job!

Fortunately I only risked a bit of grain, so no major worries.  My questions below still remain unanswered.

Cheers!

^One of my problems is idiots like you blaming me for their idiocy.  You don't understand what I said for the same reason you're such a failure as an investor--you're simply not bright enough.
You still haven't thanked me for warning you about Active Mining, where the fuck are your manners?


Hi Not Lamb Chop,

Are you that Marceau Popsicle guy?  The one riding a Camel in an ill fitting suit with an expression on his face like "who farted?".

Sorry to go a bit off topic, but I have been curious for a while - what happened to your alter ego MPeX-PR?  The one with the avatar of a hot looking robot like chick where I think I could see the beginnings of a nipple.  I miss you as that character.   When you posted as that character were you stroking your anus?  I always assumed you were.

Back on topic, Lesbian Cow is adding to her position in AM at these prices.  Can't see why Fried Cat would make such a public display if he was not in a position to deliver. 
hero member
Activity: 644
Merit: 500
Cloudmining is not only easier/more profitable for the sellers, but also for the buyers.

Where are all the rich cloudmining buyers?

Cheaper hardware + cheaper electricity = more profitable.

It's really that simple.

Unfortunately, it's...

Cheaper hardware + cheaper electricity + employee costs + building costs + cooling costs + development costs + maintenance costs + needing to make a decent profit + taxes = Customers losing money + the Bitcoin network becoming centralized + Future Bitcoin miners/users being discouraged from participating + Current miners being less profitable + More BTC flooding the markets = Worse off for everyone to benefit the few at the top with the most fiat.  Sound familiar?

"needing to make a decent profit + taxes" applies to any sort of hardware sales business, not only cloudmining.

You make it seem like adding up all those extra costs associated with cloudmining will make it less profitable than home mining but that's just not the case. There are already several companies offering colocation at rates far below what the average home miner pays for electricity.

As for centralization, that's going to happen with or without cloudmining.

Unfortunately, this place seems to attract those without scruples.

Cloud mining sounds great in theory, but lots of operations have turned out to be scams. Even this one, AMHash, run by one of the "gods" of the Bitcoin universe.

Just as they say if you don't control your private key, you don't have any bitcoins, same can be said for mining hardware - if it's not under your roof, or at a cage in a data center that you have the keys to, you don't actually have any mining power, just the hope that whoever you gave your coins to will give some of them back as time goes by
full member
Activity: 162
Merit: 100
Wow really Flame1012!!!!! That is so impressive, and with your massive influence over the Chinese Communist Party officials involved, you're finally going to start righting the wrongs committed against non-chinese shareholders by disreputable Chinese businesses. I mean really with the track record the Chinese government has for being sure Chinese business are on the up and up how can you not succeed. Take the offer dipshit and be glad you got anything at all back. Remember Hashie dumbass?

I like your optimism, but you clearly haven't got a clue how it works out there in the real world of Southeast Asia. I thought AMHash was a little sketchy to begin with for the simple reason, if you get ripped off they are in China and you can't do shit. I had hopes the partnerships would keep all parties at least watching each other. Now we know well SHIT, you can't even trust the manufacturer to not rip you off.

The only rules left are, get in early, get out while you still have profit.

Edit

Oh! never mind that retarded post was removed by the poster or a mod before I finished typing.
hero member
Activity: 770
Merit: 509
Cloudmining is not only easier/more profitable for the sellers, but also for the buyers.

Where are all the rich cloudmining buyers?

Cheaper hardware + cheaper electricity = more profitable.

It's really that simple.

Unfortunately, it's...

Cheaper hardware + cheaper electricity + employee costs + building costs + cooling costs + development costs + maintenance costs + needing to make a decent profit + taxes = Customers losing money + the Bitcoin network becoming centralized + Future Bitcoin miners/users being discouraged from participating + Current miners being less profitable + More BTC flooding the markets = Worse off for everyone to benefit the few at the top with the most fiat.  Sound familiar?

"needing to make a decent profit + taxes" applies to any sort of hardware sales business, not only cloudmining.

You make it seem like adding up all those extra costs associated with cloudmining will make it less profitable than home mining but that's just not the case. There are already several companies offering colocation at rates far below what the average home miner pays for electricity.

As for centralization, that's going to happen with or without cloudmining.
legendary
Activity: 1260
Merit: 1002
Cloudmining is not only easier/more profitable for the sellers, but also for the buyers.

Where are all the rich cloudmining buyers?

Cheaper hardware + cheaper electricity = more profitable.

It's really that simple.

Unfortunately, it's...

Cheaper hardware + cheaper electricity + employee costs + building costs + cooling costs + development costs + maintenance costs + needing to make a decent profit + taxes = Customers losing money + the Bitcoin network becoming centralized + Future Bitcoin miners/users being discouraged from participating + Current miners being less profitable + More BTC flooding the markets = Worse off for everyone to benefit the few at the top with the most fiat.  Sound familiar?

donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
Cloudmining is not only easier/more profitable for the sellers, but also for the buyers.

Where are all the rich cloudmining buyers?

Cheaper hardware + cheaper electricity = more profitable.

It's really that simple.

Unfortunately, it's...

Cheaper hardware + cheaper electricity + advertising costs + insurance costs + employee costs + building costs + cooling costs + development costs + maintenance costs + needing to make a decent profit + taxes = Customers losing money + the Bitcoin network becoming centralized + Future Bitcoin miners/users being discouraged from participating + Current miners being less profitable + More BTC flooding the markets = Worse off for everyone to benefit the few at the top with the most fiat.  Sound familiar?
legendary
Activity: 2786
Merit: 1031
I've sold my havelock shares and have attempted to withdraw from havelock. The withdrawal is still pending after 8 hours. I'm not sure if havelock just isn't processing now and has given up or what?

You may have to wait till Monday, I don't think they work weekends.
full member
Activity: 432
Merit: 100
I've sold my havelock shares and have attempted to withdraw from havelock. The withdrawal is still pending after 8 hours. I'm not sure if havelock just isn't processing now and has given up or what?
hero member
Activity: 700
Merit: 500
The strangest thing happened.  As soon as a stopped investing in bitcoin securities...

I had more bitcoins.

Ain't that the truth, well Bitcoin securities have had a very high tendency to suck
With very few exceptions all of them can be considered failures
In the end you really do have more Bitcoins avoiding them like the plague Wink
legendary
Activity: 1260
Merit: 1002
The strangest thing happened.  As soon as a stopped investing in bitcoin securities...

I had more bitcoins.

as soon as I started shorting bitcoins, I had more bitcoins

yup. end game.
legendary
Activity: 3164
Merit: 2258
I fix broken miners. And make holes in teeth :-)
What you described is not cloudmining, but a ponzi scheme disguised as cloudmining.

If people would simply demand proof of hashrate before purchasing, this wouldn't be an issue.
Problem is such a site would have a lower rate of return than a ponzi. Therefore it would have to compete against ponzis, would be flamed as a greedy bunch, and would ultimately fail.

Or one could prove hashrate, inflate the profits to the ponzi levels, then do the "pump and dump" by delivering hashing till enough money was saved up to cut and run.

In both business models, the bad money seems to crowd out the good.

This seems to be a problem.
sr. member
Activity: 364
Merit: 250
"to be or not to be, that is the bitcoin"
The strangest thing happened.  As soon as a stopped investing in bitcoin securities...

I had more bitcoins.

as soon as I started shorting bitcoins, I had more bitcoins
hero member
Activity: 770
Merit: 509
There's a reason the entire industry has adopted cloudmining. (I think Avalon and 21e6 are the only manufacturers who are not involved with cloudmining)

Of course. With cloud mining you never have to make a product, only run a ponzi scheme. No need for a physical address, location, tangible assets. Just a big fluffy cloud. The only investment is marketing, better the marketing, larger the scheme.

What you described is not cloudmining, but a ponzi scheme disguised as cloudmining.

If people would simply demand proof of hashrate before purchasing, this wouldn't be an issue.
legendary
Activity: 3164
Merit: 2258
I fix broken miners. And make holes in teeth :-)
There's a reason the entire industry has adopted cloudmining. (I think Avalon and 21e6 are the only manufacturers who are not involved with cloudmining)

Of course. With cloud mining you never have to make a product, only run a ponzi scheme. No need for a physical address, location, tangible assets. Just a big fluffy cloud. The only investment is marketing, better the marketing, larger the scheme.

hero member
Activity: 770
Merit: 509
Cloudmining is not only easier/more profitable for the sellers, but also for the buyers.

Where are all the rich cloudmining buyers?

Nice strawman.

Cheaper hardware + cheaper electricity = more profitable.

It's really that simple.
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
Cloudmining is not only easier/more profitable for the sellers, but also for the buyers.

Where are all the rich cloudmining buyers?
legendary
Activity: 1456
Merit: 1010
Ad maiora!
cloudmining can work, what bothered me about AMhash was...AM should have self mined with those machines and distributed the btc to AM shareholders. simple as that. instead they diluted AM shareholder's profits and sold them down the river. now look where we all are.

I'm venting ofc, but until FC turns up, AM is liquidated, some sort of reasonable explanation is given, our imaginations will run wild. worse even, panicking AMhash holders run to Chinese authorities and everything gets thrown in bureaucratic limbo, never to see resolution for any of us, only some corrupt Chinese officials...

hero member
Activity: 770
Merit: 509
stayed away after that, but should have read the writing on the wall, amhash was the warning sign that all ethical standards and practices had left the building. poor fool me.

I tried to warn people early on.  This is what scares me about Spondoolies now taking the same ethical approach to their future business (i.e. selling finite cloudhashing contracts because it's easier and more profitable and passes more risk to the customer).  Once people take the path of using their reputation to screw their customers for profit, it is difficult to recover.

There's a reason the entire industry has adopted cloudmining. (I think Avalon and 21e6 are the only manufacturers who are not involved with cloudmining)

Cloudmining is not only easier/more profitable for the sellers, but also for the buyers. They have economies of scale, home miners don't.

The only problem (which you guys seem to blame on the business model) is the lack of professional/trustworthy/non-scammy companies.

Sidenote: I find your issues with cloudmining to be a bit disingenuous seeing as how you're running some sort of mining related investment scheme.
newbie
Activity: 25
Merit: 0
We are 4 shareholders and we are not going to accept this joke! We started the diplomatic correspondence with Chinese Embassy and we will put those scammers in jail, where they belong!
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
stayed away after that, but should have read the writing on the wall, amhash was the warning sign that all ethical standards and practices had left the building. poor fool me.

I tried to warn people early on.  This is what scares me about Spondoolies now taking the same ethical approach to their future business (i.e. selling finite cloudhashing contracts because it's easier and more profitable and passes more risk to the customer).  Once people take the path of using their reputation to screw their customers for profit, it is difficult to recover.
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