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.comS: 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
