|
141
|
Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
|
on: March 28, 2015, 11:31:09 PM
|
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. |
|
|
|
|
142
|
Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
|
on: March 27, 2015, 10:26:25 PM
|
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. |
|
|
|
|
146
|
Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
|
on: March 27, 2015, 07:58:55 PM
|
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. |
|
|
|
|
153
|
Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
|
on: March 21, 2015, 08:52:39 PM
|
FailFast tried and was not a scam just incompetent.
Is it really possible to be so incompetent/negligent that they went bankrupt before delivering a majority of their preorders which they charged $15/gh while production costs were ~$0.3/gh? IMO they got fed up with the community backlash after Icebreaker managed to turn EVERYONE against HF so they orchestrated their exit scam. (funneling the money out of the company then declaring bankruptcy) But then again the all-knowing Icebreaker has informed us all several times that bankruptcy fraud never happens so this can't be the case. |
|
|
|
|
154
|
Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
|
on: March 21, 2015, 08:29:12 PM
|
In no case do I think the scam was premeditated or that anyone other than FC was involved.
I know there can not be any proof for this claim, but would you disclose any logic behind this? What makes you so confident to state above? It just doesn't add up. Why do you think they stopped new amhash sales around the time the hardware was supposedly stolen? Why did AM offer full refunds/replacements to those with defective prismas? Why did they even bother to set up a datacenter and back all shares with real hashrate? You could argue that this was all done to paint the illusion that it wasn't a scam, but I just don't see why the guy who earned 10's of thousands of btc legitimately would scam the community for another ~1.5k btc. (though I admit it is definitely possible) As for FC being solely responsible, is there any evidence to suggest otherwise? So far we've seen several insiders share their point of view about this debacle and they all point to FC (and his disappearance) being responsible. |
|
|
|
|
155
|
Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
|
on: March 21, 2015, 06:55:17 PM
|
jimmothy will never admit he was wrong about HashFast being a scam and also wrong about AM not being a scam. His ego and pride won't allow it. The shame would destroy his fragile self-image. He's rather keep moving the goalposts, second-guessing the 12+ bankruptcy lawyers and Court involved with HF's 'not-a-scam' judgment while demanding metaphysical certainty that AM is-a-scam. Even if FC signed a confession and held it up with the requisite banana and shoe, jimmothy would claim it was shopped, or not the real FC, or that FC was being blackmailed by Mongolian pirates. And if you pointed out Mongolia is landlocked and thus pirate-free, he'd sputter something about how HF was still a scam even though they were granted Chapter 11 (a status that is denied to scams and even mismanaged companies) *TWICE*. Because failing due to unfavorable business conditions makes you a scam if you are HF, but taking the BTC and running doesn't make you a scam if you are AM.  This is the last time I'm wasting my time replying to you before putting you back on ignore because you've made it clear your not here for a discussion, but rather to spew the verbal diarrhea you are known for. One last time, I AM NOT DENYING THE POSSIBILITY THAT FC TURNED INTO A SCAMMER. I just find it unlikely given AM's solid track record/reputation of fighting to make things right. And I refuse to conclude it a scam based on the single fact that the CEO is missing (who conveniently is the only one with the private keys). Here's my guesses as to what happen in order of plausibility: 1. Their story is legit and the hardware was stolen by some shady datacenter operator and FC was kidnapped or something. 2. FC was stealing electricity and he along with the hardware was taken by the police. 3. FC decided to pull an exit scam after Prisma 2.0's and BE300 turned out to be failures. In no case do I think the scam was premeditated or that anyone other than FC was involved. |
|
|
|
|
156
|
Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
|
on: March 21, 2015, 06:13:08 AM
|
You were scammed by AM. Your money is gone.
So what is different with Hashfast? All HF customers were scammed, none of them ever received what they paid for. Their money is gone, too. In both cases, all the developed "superior" technology will go to waste, perhaps to be sold off pennies to the dollar. Perhaps some vulture lawyers will benefit. Good question. Here are some differences between the HashFast the unsuccessful business, and AM the scam: Here's some more differences between AM and Hashfast: - AM had built a solid reputation over 2+ years of delivering hardware without doing anything remotely untrustworthy (up until this disaster). HF sold a shitload of preorders based on exaggerations, outright lies, and didn't even deliver all their first gen preorders. - AM has a plausible excuse for their collapse, while HF somehow went bankrupt even though they charged ~50 times their production cost for preorders. - There is no proof AM acted in bad faith. Right before FC and the farm went missing they gave compensation for delays and full refunds/replacements to those with faulty Prismas. HF on the other hand massively raised employee wages while heading towards bankruptcy, greatly exaggerating shipment dates, lied about btc refunds/compensation, etc. Funny how you insisted HF was a scam despite having no proof, but make excuses for AM despite overwhelming evidence.
I'm not making excuses or saying it's definitely not a scam (like you do with HF), I'm just looking for evidence/proof either way. Please do post this overwhelming evidence you claim to have. |
|
|
|
|
157
|
Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
|
on: March 21, 2015, 04:45:13 AM
|
I want to share a story with you all. In early November 2014 I was doing something online and I saw an ad for this thing called a Hashlet. It looked kinda cool so I clicked on it. On Gaw's homepage I read more about it and I was like "what the hell?" and bought one. I think it was the genesis that I bought first for $6.95. I got the email and logged into Zencloud and activated the sucker. I fiddled around a bit and checked out the Zencloud site and come to find out they also gave me a free Genesis as a gift. Then I logged off and went to bed. A few days went by and the payouts were steady so I decided to buy a Zen. It was $14.95. A few days or a week later I noticed this odd little icon on top of the Zencloud UI, so I clicked that and it took me to Hashtalk. I registered and started following threads, not really posting...just lurking. Soon I ran across a thread that calculated ROI on Hashlets if you were mining these things called Hashpoints. Apparently if you had a Zen and pointed it at the Hashpoint pool you could potentially ROI in a matter of like 45 days. This was all based on 400 hashpoints = 1 Hashcoin = $20. So I switched my Zen over to the Hashpoint pool. Then sometime later the Paycoin white paper came out. How amazing this coin sounded! Around this time Josh decided to let all Hashlets mine Hashpoints. So I pointed all of them at the Hashpoint pool. Then Josh gave us the option to convert all of our Hashlets into Hashstakers (except the free gift one). So I did so as it seemed like Gaw was moving away from mining. Immediately after conversions were over came the ICO. I had like 800 hashpoints so I got 2 XPY. Perfect! It was just enough to fill my stakers.
Meanwhile I won some XPY and was given a few during contests and giveaways on Hashtalk. When Paybase launched I had around 15 XPY plus a couple in stakers. For a long time I just held my coins waiting for $20 to arrive. One day I said screw it and sold them all for around $8. The next day I had seller's remorse and bought them back. But the price had dropped so I ended up with more. I've bought and sold a few times now and quintupled my holdings to 75 XPY. That's where I stand now. If I sold them all today and walked away I would still have over double what I paid for my Hashlets. But I'm a patient man and if somehow I end up getting a $20 valuation for them it's $1500. Repeat fifteen fricking hundred dollars from a twenty-one dollar investment!
tl;dr: Always make money definitely applies to my experience with Gaw.
LOL. Here's a breakdown of your GAW investments: Genesis hashlet: invested $6.95, earned ~$2 = -$4.95 ROIZen hashlet: invested $14.95, earned $1.6 (2 xpy) = -$13.34 ROIHashstakers (guessing 2 3 month?): invested $30, earned $ 1.4 (~1.75 xpy) = -$28.6 ROITotal: invested $52, earned $5 = -$47 ROI (90% loss)tl;dr you probably just made up that last bit to justify your massive losses. If not, then you would have been MUCH better off just speculating and gambling on contests than investing with GAW. |
|
|
|
|
158
|
Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
|
on: March 21, 2015, 04:18:26 AM
|
FC has been offline for almost two months now. When someone scams, they almost always will never allow you to hear from them again.
Instead of giving himself a raise prior to the company failing, he simply stole the mining equipment and mining revenue of AMHASH. It is as simple as that
Do you have any proof he stole the hardware and mining revenue? |
|
|
|
|
160
|
Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
|
on: March 21, 2015, 04:08:35 AM
|
I really doubt this is a scam because AM/FC has shown integrity matters more than profit time and time again (200 btc fee returned, prisma refunds, etc) , however the lack of professionalism cannot be ignored. Even if they do somehow make it out of this mess, I hope FC steps down and replaces himself with someone more qualified.
You were scammed by AM. Your money is gone. Did you enjoy being in the denial stage with regards to AM for the last year? We still have no hard proof that this was a scam, but I'm willing to admit it as soon as we get some. (for example if FC gave himself and other employees a massive raise while their company was heading towards bankruptcy, I'd admit they were scammers) To me this looks like a failed business due to FC's lack of business skills. AM's chip was solid, they just fucked up everything else. (PR, sales, resource allocation, etc) Fortunately I took whiff of the unprofessionalism around half a year ago and dumped all my shares when they refused to publish a financial report. At that point it was a gamble I wasn't willing to take. I didn't expect the company to go under, but I didn't see them making a huge comeback either. |
|
|
|
|
Show Posts
