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What happened with Hashie?
FireHashers were priced according to it's expected output.
We used Blockchain.info's simple query API to get the current difficulty.
In normal circumstances: Expected earnings = Payout - Maintenance Fee
Unfortunately, for approximately 30 minutes Blockchain.info returned 0 as the network difficulty. $globalHashrateGH became 0. In the next line, that's used to divide -- resulting in a division by zero error. The payout was calculated to be 0.
With the payout 0, the expected earnings was negative. The FireHashers were priced at expected earnings * discount. Since the expected earnings was negative, the price was negative. People could buy negatively priced FireHashers, and when they purchased it, it would actually add to their balance. Users were able to withdraw the fake balances.
We lost a total of around 90 BTC due to this bug. Since we mainly sold AMHash, our margins were very low and we absolutely could not cover 90 BTC and had to shut down. We only recovered minimal amounts (thanks to those that did send us the coins back).
What have we learned?
(1) Sanity check data sources and throw error if there's an unexpected value.
(2) Sanity check purchasing and make sure the price is always >0.
(3) Code review -- being the solo developer isn't the best idea for a bitcoin project.
I plan on launching a few new bitcoin projects in the future (many interesting ideas
), so if you're a web developer who is interested in working together (development, code review, sysadmin, etc) in upcoming projects for equity, contact support@hashie.co.
Don't worry, I'm not touching cloud mining, or web wallets, or lending, ever again.
~ https://hashie.co/letitgo.ogg
-Queen Elsa
FireHashers were priced according to it's expected output.
Code:
function fh_estimate($hashpower, $days){
$difficulty = getDifficulty();
$btcusd = getBTCUSD();
$globalHashrateGH = $difficulty * 0.007158388055;
$oneTHPorion = 1000 / $globalHashrateGH;
$bitcoinPerHourPerTH = 25 * 6 * 24; // 25 BTC * 6 blocks * 24 hours
$payoutPerTH = floor($oneTHPorion * $bitcoinPerHourPerTH * 100000000) / 100000000;
$btcusd = getBTCUSD();
$feePerHour = ceil(((0.002 * 1 * 1000) / $btcusd) * 100000000) / 100000000;
$payoutPerTH -= $feePerHour;
$ret = $payoutPerTH * ($hashpower / 1000) * $days;
return $ret;
}We used Blockchain.info's simple query API to get the current difficulty.
In normal circumstances: Expected earnings = Payout - Maintenance Fee
Unfortunately, for approximately 30 minutes Blockchain.info returned 0 as the network difficulty. $globalHashrateGH became 0. In the next line, that's used to divide -- resulting in a division by zero error. The payout was calculated to be 0.
With the payout 0, the expected earnings was negative. The FireHashers were priced at expected earnings * discount. Since the expected earnings was negative, the price was negative. People could buy negatively priced FireHashers, and when they purchased it, it would actually add to their balance. Users were able to withdraw the fake balances.
We lost a total of around 90 BTC due to this bug. Since we mainly sold AMHash, our margins were very low and we absolutely could not cover 90 BTC and had to shut down. We only recovered minimal amounts (thanks to those that did send us the coins back).
What have we learned?
(1) Sanity check data sources and throw error if there's an unexpected value.
(2) Sanity check purchasing and make sure the price is always >0.
(3) Code review -- being the solo developer isn't the best idea for a bitcoin project.
I plan on launching a few new bitcoin projects in the future (many interesting ideas
), so if you're a web developer who is interested in working together (development, code review, sysadmin, etc) in upcoming projects for equity, contact support@hashie.co.Don't worry, I'm not touching cloud mining, or web wallets, or lending, ever again.
~ https://hashie.co/letitgo.ogg
-Queen Elsa
1.) Don't sell products that don't exist as miners
2.) Be honest and immediately explain what happened instead of playing psycho games
3.) What about your "business expenses" for songs, ARG and so on? How to recoved the funds, your customers lost due to your incompetence?
3.) Who are you? Matt? Does Sahra exist or is it just a fake identity? What about bbit?
It's time to be totally honest!
4.) What is with our Haspower?
nice answer. its like gambling XD 50% 50%
Da ich mich von meinen Kröten innerlich verabschiedet habe, kann man fast lachen über den Scheiss. Es gibt tatsächlich noch Leute im engl. Thread, die an den Typen glauben. The Show must go on. Schauen wir mal... 
