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Author Topic: [ANN] HaoBTC, mining dividend paid out hourly  (Read 56206 times)
Eric Mu
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April 13, 2015, 09:38:57 AM
Last edit: July 06, 2016, 09:15:53 AM by eric@haobtc
 #1

HaoBTC is a Beijing-based Bitcoin company incorporated in June, 2014.
Prior to HaoBTC, Wu Gang, the founding CEO had worked in the cloud storage field for nearly a decade. This experience brought him in contact with Bitcoin when the technology was still in its very early days. Wu has been personally involved in mining since 2011 and is well regarded in the Chinese miners’ community.
On November 1, 2014, HaoBTC.com went online.
The first service is a Bitcoin wallet that pays users interest.
The service, which comes to be known as a Bitcoin Bank, was the first of its kind - it created a category that has seen a few new comers.
The concept is to utilize China's low labor and electricity costs and accelerate scaling by borrowing from users.
And this model has proven to be successful.
As of June 12, 2016, HaoBTC holds over 30,000 BTC in reserve and a total of 2,342 BTC has been paid to its over 30,000 users. With per Bitcoin price around US$ 600, HaoBTC has created over US$1.4 million to its users.
All this can't be achieved without our professionally managed mining data centers distributed across the country and a dedicated team managing them.
HaoBTC's system has proved to be sound and secure - for almost two years, no users' funds have been lost.


How does HaoBTC's business model work?
One frequently asked questions is HaoBTC another ponzi scheme?
It is not.
Most pyramid schemes in China these days pay 30%+ per month, there is no way HaoBTC can pay that kind of rates.
The way we do a custodian wallet and pay users interest is because that it is a cheaper alternative to other ways to raise capital.
In China, bank loans are unavailable to Bitcoin companies and private loans are often too expensive.
While mining is still a low-hanging fruit - statistics show that the majority of hash power has concentrated in China due to the huge cost advantage, the industry is getting increasingly crowded and to maintain profitability, scaling is vital.
As of today, it is still possible for miners like HaoBTC to ROI within a year.
HaoBTC HaoBTC wallet operates like a fractional reserve bank. Users deposit coins to their HaoBTC wallets and the first dividend payments will appear on balances the next hour and can make withdrawals anytime they want.
HaoBTC's Vision:
The vision of HaoBTC has been to create a "popular BTC gateway to promote mass adoption of Bitcoin and a solution provider to help BTC industry at large".
As the first step of our roadmap, we created a wallet service. It is partly to bootstrap ourselves. We need money to pay our development.
As of today, we have already created a slew of Bitcoin services to facilitate users and promote decentralisation.
We are fully dedicated to the success of Bitcoin.
Milestones:
1. Manage a BTC bank that pays out dividend hourly with interest rate above 9% p.a since November 1, 2014.
2. Expand our BTC mining facility to exceed 10 PH (As of Feb 7, 2015, this number is over 33 PH).
3. Launch China's first 2-of-3 multi-sig wallet
4. Launch a m-of-n multi-sig wallet targeting corporate users.
5. Launch a platform enables easy BTC buy and sell.
6. Have acquired 10,000 registered users Jul, 2015
7. UI redesign Aug 3, 2015
9. Launch of block explorer, Dec, 2015
10. Launch of maker-taker Exchange April, 2016
11. Trading API goes alive, May, 2016

For more information, please contact me at
E: eric.mu@haobtc.com
S: ericmuxl
W: http://haobtc.com/

Edit:
1.Much has changed since last time I posted here. In the latest development, we have established several new mines, including the one in Kangding and one in Xinjiang.
2.Correction: We use AntMiner S3 instead of S5 stated in the original post

Press:
2016-5-12: China: Bitcoin Banks, Mines, Myths and Realities: https://news.bitcoin.com/china-bitcoin-myths-realities/.
2015-6-4 Inside a Tibetan Bitcoin Mine: The Race for Cheap Energy: http://cointelegraph.com/news/114474/inside-a-tibetan-bitcoin-mine-the-race-for-cheap-energy.
2016-6-8 My Life Inside a Remote Chinese Bitcoin Mine: http://www.coindesk.com/my-life-inside-a-remote-chinese-bitcoin-mine/

Other thread(s) on this forum:
Three months living in a multi-petahash BTC mine in Kangding, Sichuan, China: https://bitcointalk.org/index.php?topic=1072474.0

View from our mine

Sun Xiaoxiao, Mining Department Director and Wu Gang, CEO (from left to right )

Inside a HaoBTC mine

The team of HaoBTC mining operation
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April 13, 2015, 10:12:16 AM
 #2

How often do you pay out interest?
Do you plan on translating a significant portion of your site, not only the signup form?
Right now I can only understand a few features Smiley

Also, anyone thinking about "depositing" - BEWARE. Remunerated wallets have always been a scam.


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April 13, 2015, 03:01:05 PM
 #3

Sounds fishy, i do not suggest any deposit until/unless they prove the partnership with Bitmain and maybe a photo of Datacenter/Farm, because it's just like a "cloud mining" website but advertised as "wallet with interest".

Also, website isn't fully translated to English.

This area is empty, but you can PM me if you want to fill it.
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April 14, 2015, 02:20:30 AM
Last edit: April 15, 2015, 09:15:02 AM by eric@haobtc
 #4

How often do you pay out interest?
Do you plan on translating a significant portion of your site, not only the signup form?
Right now I can only understand a few features Smiley

Also, anyone thinking about "depositing" - BEWARE. Remunerated wallets have always been a scam.

Hi, thanks for your interest, poordeveloper.
To answer your question:
We pay out interest hourly.
We had been primarily focusing on Chinese users since our launch in November, 2014, but we now plan to serve international users and our UI redesign, including high quality translation, is underway.
We are aware of the rampant scams in the cloud mining space.
We do provide proof, such as our mining address, our business license, photos of our operations (we will post them on Twitter - https://twitter.com/HaoBTC) and whatnot. In addition, Wu Gang 吴钢, our CEO is a reputable BTC entrepreneur in China - he has been involved in Bitcoin mining since 2009. There is an article about him (and other prominent Chinese bitcoiners) on Chinese edition of GQ magazine published last year.
I would be glad to answer more of you questions if you have any.

Best,
Eric
Skype: ericmuxl
Email: eric.mu@haobtc.com

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April 14, 2015, 02:23:41 AM
 #5

LOL..just opened today

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April 14, 2015, 02:44:02 AM
 #6

paying hourly interest! Now i believe that you can make money in thin air. Smiley
Eric Mu
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April 14, 2015, 09:54:24 AM
 #7

LOL..just opened today

If you mean our service, the team behind HaoBTC is also behind China's first on-chain wallet called Openblock launched back in April 2014. In August, we changed our name to HaoBTC.com. The Bank, or the interest-bearing wallet service, was launched in November 1, 2014. So we have been up and running for at least a few months.
If you mean my account. Yes, I just registered yesterday. I myself in the past was primarily preoccupied with writing for the media. I have been a CoinDesk contributor since late 2013 and also write a blog on Forbes (google my name Eric Mu ). I never felt the need to open an account on this forum until lately when I became the CMO of HaoBTC.

Best,
Eric
Skype: ericmuxl
Email: eric.mu@haobtc.com
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April 14, 2015, 11:11:35 AM
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LOL..just opened today

If you mean our service, the team behind HaoBTC is also behind China's first on-chain wallet called Openblock launched back in April 2014. In August, we changed our name to HaoBTC.com. The Bank, or the interest-bearing wallet service, was launched in November 1, 2014. So we have been up and running for at least a few months.
If you mean my account. Yes, I just registered yesterday. I myself in the past was primarily preoccupied with writing for the media. I have been a CoinDesk contributor since late 2013 and also write a blog on Forbes (google my name Eric Mu ). I never felt the need to open an account on this forum until lately when I became the CMO of HaoBTC.

Best,
Eric
Skype: ericmuxl
Email: eric.mu@haobtc.com

Can you post some proof of the mining operations taking place?


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April 15, 2015, 06:39:09 AM
Last edit: April 15, 2015, 09:06:06 AM by eric@haobtc
 #9

We are always happy to provide proof.
We publicised our mining addresses about two months ago on public demand from inside China. See this post (in Chinese ):https://www.bikeji.com/t/1041
We also posted some photos taken inside one of our mining operations on our Twitter account - follow us on Twitter: https://twitter.com/HaoBTC
Right now our hashing power is distributed in different locations, but the construction of new site in Western Sichuan close to the Tibetan region is near completion, and we expect to concentrate most of our hashing power to the new location over the next month.
We may also publish some our contracts with Bitmain and our business license but I will need to discuss it with our CEO - some info may be deemed too sensitive.

Eric
Skype: ericmuxl
Email: eric.mu@haobtc.com
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April 15, 2015, 07:16:23 AM
 #10

Can you show a picture that shows a person holding up a sign that says haobtc.com

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April 15, 2015, 09:05:16 AM
 #11

Good idea!
I will arrange that.

Eric
Skype:ericmuxl
Email: eric.mu@haobtc.com
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April 15, 2015, 11:52:51 AM
 #12

you really need to translate your site better. Its still mostly in Chinese when in english mode
Eric Mu
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April 16, 2015, 06:51:26 AM
 #13

Can you show a picture that shows a person holding up a sign that says haobtc.com
Well, we just did:
https://twitter.com/HaoBTC/status/588592662560702464
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April 16, 2015, 07:13:15 AM
 #14

you really need to translate your site better. Its still mostly in Chinese when in english mode
We are working on it.  Smiley
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April 18, 2015, 08:21:34 PM
 #15

Can you show a picture that shows a person holding up a sign that says haobtc.com
Well, we just did:
https://twitter.com/HaoBTC/status/588592662560702464
Wow. There are a LOT of miners in there.


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April 29, 2015, 03:55:01 PM
 #16

Registered and did a payment...lets see how it goes.
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April 30, 2015, 01:55:36 AM
 #17

Made an account. Are you planning to provide other services too? Like buying and selling?

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May 01, 2015, 10:12:19 AM
Last edit: June 06, 2015, 01:32:09 AM by eric@haobtc
 #18

Made an account. Are you planning to provide other services too? Like buying and selling?
Hey there,
Thanks for using our service!
We just launched a new service allowing people to buy BTC. We will also add selling over the next couple of weeks. Right now we only support 11 major Chinese banks, but we may eventually add support for foreign ones as well.
Eric Mu
CMO of HaoBTC
Skype: ericmuxl
Email: eric.mu@haobtc.com
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May 01, 2015, 10:42:34 AM
 #19

Great to hear some updates from HaoBTC

Seems legit as of now Smiley

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May 28, 2015, 09:43:52 PM
 #20

registered & deposited. looking fwd to more progress. so far so good for me.
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