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The minimum purchase order at AMHash was 20 Th/s. The last dividend was for 519 Satoshis/Gh. Multiply that by 20000 and you get 0.1038 BTC which is double the 0.05 BTC minimum. Basically, you should only have a problem if you bought from Hashie and you have every right to complain if that's the case.
AMHash,
Either transfer those contracts to Havelock or reduce the minimum payout to a value that actually makes sense for your customers with the least hash power on your site. Someone with 1 Gh/s would never make enough to withdraw which essentially means you have ripped them off. AM does not need another tarnished brand, especially at this point in time, so sort it out.
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The fact that there is "a formula" means you were ripped off.
The only formula should be coins mined/hashpower each person paid for. The whole thing is kind of moot because you would be fucked even if he had the hashpower he promised you wouldn't get what you paid in, but that still doesn't meaning sitting here and taking it (and encouraging others to to the same) is smart.
Using a formula means no such thing and most of the manufacturers cloud mining services payout based on a formula. The formula is as follows: Hash Rate * Block Reward * Seconds * 65535 / (2^48 * Difficulty) which gives the average payout a miner should get. In other words, using the formula simply removes the variance involved in mining. From that value, the service then just has to subtract their maintenance fees. The problem isn't that some scammers are also using the above mining income formula, the problem is that those scammers refuse to provide their part of the formula - their maintenance fees. That means that those scammers can pay you whatever they want. |
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is there any legit cloud mining?
Best to not invest in one at this point of time. Better to invest your coins some place else than invest in a cloudmining site. ' cloud mining is the same as any other ponzi...so, he might play No, it isn't. The only difference between buying cloud mining contracts from an ASIC manufacturer and buying miners from them is that you control the miner and pay more to do so. You pay X upfront for both, make Y from mining income from both, and pay Z in maintenance costs for both. If you think all cloud mining services are scams then you must also think that mining in general is a scam and therefore so is bitcoin. |
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Another thing to remember about AMHash is that unsold hashing power is self-mining for AM.
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Nobody is demanding everybody believe in 6 month old promises, I'm simply telling *you* (again) to stop talking nonsense about AM setting up multiple companies to syphon off funds.
Also, if you look at what all the other manufacturers are doing and saying, you will realise that cloud mining is the future of bitcoin mining.
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Their won software is for mining iver with gpu or cpu to mine with. or you can use pool info if you do not like to download software and ask them to set an account up to login in though own mining equipment. They are the only one who has been around as long as they have without moving or leaving or turning scam. Then again most cloud mining contracts all end up being scam or having problems. yet eobot am yet to find any problems other than their high fees but they do change according to the price of BTC
Paying out for a while means fuck all, just ask PBmining and Pirate@40 victims. How long was Madoff's ponzi running for before it collapsed? |
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Mabsark, You are most likely correct in that this service is a complete scam, but your sentence "If they refuse to provide any evidence of legitimacy, then they're a scam." is completely incorrect, just because someone doesn't provide information doesn't make them a scam. Its the same logic to say that I will not tell you whether I am male or female, Is that evidence that I am an hermaphrodite? No, Its an assumption by you.
It's not the same logic at all and to try and paint it as such is ridiculous. In one case you have a "company" which flat out refuses to provide any evidence of legitimacy asking people to give them money based on unrealistic promises. The other case has nothing to do with trusting totally dodgy strangers with your money. |
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BTW and of course it doesnīt have anything to do with this co, especially since theyīre in the same industry. But could Bitman/Hashnest be about to give up the ghost ? I seems to be symptoms similar to when CEX started going in the crapper.
No, Bitmain have newer more efficient miners which will pretty much replace the S2s and S3s when those contracts end. They're a manufacturer like AM, they'll continue to make newer, more efficient ASICs as long as it's profitable to do and will provide those ASICs in the form of cloud mining as long as it's profitable for them to do so. Unless Bitmain folds, Hashnest is going nowhere. Same with AM and AMHash. |
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We don't know a thing about the deal between am and amhash, as there are no financials. Nothing.
It's great that the new chips look good, who's going to buy them? Amhash? Then reinvest again?
The second slide clearly has the word "lab coin" on it. Why? There was zero explication about that. You would think he might tell us "that was in reference to..." But it just hangs there and makes me uncomfortable.
I know as little as you and the rest of us. "Friedcat said" is wearing pretty thin. This isn't a fan club. If you want us to blindly adore all mighty friedcat, let him produce some numbers, or profits, or explanations.
He already blew his first mover advantage ages ago, what else is he going to fail at?
Sorry if I'm not a cheerleading zombie, there's nothing to cheer about.
promises ain't enough
I'm not asking you to ignore facts, I'm telling you to stop making shit up. We do know a thing or two about the relationship between AM and AMHash. AMHash is not a side company, it is an AM service just like Prismas are an AM product. They don't buy AM chips (because they are AM), they sell them in the form of Gh/s contracts. Rockminer are being paid a commission to manage sales and support while AM maintains and controls the farm. You've been told this before. As for the mention of "labcoin" on that slide, your fears about that are completely idiotic. What did you think it was saying? That AM had invested 200 BTC in Labcoin or something just as ridiculous? |
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Thanks for asking for more of this. Iīll make sure to oblige.
Canīt wait for some retard to start accusing me of "misleading newbies" read: maybe slow their buying which doesnīt help the selling of the experienced users and other experts.
He didn't ask for more. He was being bloody sarcastic. He's actually saying "Stop posting this shit. Anybody who wants to look at this stuff can do so by going to the website and they don't need hourly updates about it from you." |
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You can talk about fees and prices all you want. If they refuse to provide any evidence of legitimacy, then they're a scam. Eobot seems especially scammy, trying to get customers to download some "special" software.
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How many times do you need to be told to stop repeating this nonsense? You know AM haven't set up any "side-companies" at all so stop spreading such nonsense. Also, what do you that slide says? |
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I take a change on him  added in skype Do report back in here what the plan is and how it all goes for you. I am hugely suspicious of anyone that arrives in a volatile forum like this and announces they have the way to fix everyone's problems ... but it's secret and I'll only reveal it in a skype "interview" to see if you are the right person .... Yeah fucking right !!! If you've got it, show it !! My guess is that he'll recommend investing in yet another cloud mining scam that refuses to provide any evidence of legitimacy. My guess is that he'll recommend cloudminr.io. |
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TheRama, when you buy those cloud mining contracts or units or whatever else itīs called, you are in effect lending the operators money to upgrade their equipment or expand their current one or other things they need money for.
When you buy cloud mining contracts off a manufacturer, you're not lending them money, you are essentially buying miners and having them run them for you at a lower cost. Thatīs your perception Mabsark and thatīs fine. I have a different view which suits my objectives. That's not just my perception, that's the reality of the situation. i just hope we start to see some Dividends from the AM shares SOON. i canīt see hwo we will see Dividends form this farm? only form the first "5000000" sales. but after that? what then?
Selling hashrate is another way to sell devices and chips , so shareholders can get profit from this farm absolutely. AM have ASICs and miners to sell. You can buy Prisma 2's and have them shipped, buy a PSU and pay your own maintenance costs, or you can buy hashing power from those devices that are being maintained by AMHash (which is cheaper for most people). Either way, you end up with X amount of hashing power and Y costs, and the only real difference is that you control your own miners. |
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TheRama, when you buy those cloud mining contracts or units or whatever else itīs called, you are in effect lending the operators money to upgrade their equipment or expand their current one or other things they need money for.
When you buy cloud mining contracts off a manufacturer, you're not lending them money, you are essentially buying miners and having them run them for you at a lower cost. |
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Signed up 150 GH/s For now will see how it goes.
you need to buy GH/s from them to be able to recieve payouts  I will do the same as galdur when payments are in profit I will reinvest' only then, I will not buy just for the sake of it. I have to trust first and foremost Why don't people learn from their mistakes? This is a ponzi just like MineThatCloud (I notice you still haven't taken down that positive feedback you left them) was a ponzi. Why do you keep insisting on throwing your money at "companies" that refuse to provide any evidence at all of their legitimacy.  |
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Look, I can handle fluctuating prices of what i trade. If I fail to anticipate and react to them itīs because Iīm a lousy trader and I only have myself to blame. And i donīt really think that BTC will tank enough to wipe out mining. BUT and itīs a very big but if I have to worry about whether the bloody trading platform itself will be around the next morning thatīs something real serious. Itīs systemic flaw of an intolerable order. Obviously you canīt have this dangerous overhang in any marketplace that wants to be taken seriously. So, the policy behind bitcoin is obviously geared towards destruction of confidence and trust and buying interest and thus market value. Itīs really weird but canīt be denied - itīs before you like an open book whether you like it or not.
Just to put your mind a bit at ease, you can just ignore anything LambChop says, he's the biggest troll on this forum. Whether what he says is right or wrong, he's just trying to wind everyone up and piss them off. That's how he get his jollies. |
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You forgot a zero - 40 PH/s (AM valued at)
LOL, how did I manage to miss that! I even typed out 40,000,000 twice and deleted the commas. |
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I was just checking the price on Havelock. AMHash is currently selling for 0.00104998 BTC and AM100 is currently selling for 0.00092990 BTC. Given that an AM100 share is a 1/40000000 share of AM, we could say that 1 Gh of AMHash is valued about the same as 1/40000000 share of AM. That in turn would value AM at around 4 Ph/s which is funny because AMHash has 5 Ph/s itself. Just thought that was an interesting observation.  Edit: As pointed out, that would be 40 Ph/s not 4 Ph/s. |
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I would think via AMHash they could do pretty well indeed. I am pretty skeptical if they are going to try and sell physical miners again though. I guess we will see once Friendcat decides on his game plan.
With cloud mining contracts being more profitable and less hassle for AM as well as most customers, and previous comments from AM about cloud mining, I'd expect them to put the miners to self-mining, sell miners during the process of setting up the farms, then sell cloud mining contracts once the farms are up and running. Seems like the most logical course of action to me. There's no point having hashing power sitting on the shelves doing nothing. |
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