[ANN] HaoBTC, mining dividend paid out hourly

[Mikestang]

I'm mostly just wondering what happens if their mining income drops significantly.. like whether or not all current balances would be repaid.

Wait, you're worried a mining company might go belly up and run off with all the invested funds?  Pff, that kind of stuff never happens in the bitcoin world... 

From what we've seen so far there is every indication that HaoBTC won't do this, they (Eric) have said as much, but you never know.  Never invest more than you are willing to lose!

[mari88]

at tghe moment i only investet low amount but i think about reinvest here ?
Can some one with a big amount of invest show his earnings ?


kind regards
mari88

[Eric Mu]

I wanted to take a few minutes out of my day to chime in regarding HAOBTC support.  I was missing a deposit (less than one BTC) last night and Eric replied within six hours and the problem was rectified. Not bad, in my opinion, for such a small amount of coin held in a "foreign" account.

I'm going to move some of my balance to the finance option within the month, as I feel that HAO will continue to see growth and provide quick support.

I'll do the same & say that several weeks ago I had a similar problem. Eric promptly replied & made sure the problem was fixed by the tech support/dev team. Good customer service.

It's good to hear they're taking care of issues! I'm mostly just wondering what happens if their mining income drops significantly.. like whether or not all current balances would be repaid.

I think I touched on the topic before, but let me elaborate on it more. The plan is that we will lower the interest rate as the mining profit diminishes and eventually depletes, as it almost certainly will. Meanwhile we have been working on new projects with potential of monetization to supplant mining profit. For instance, we launched a spot trading service a couple months ago (only Chinese banks are supported, so don't get excited prematurely ) -  a couple weeks ago, I was told that that we have made a couple dozens of BTC in trading commission, and the volume is still growing. Not a lot compared with mining, but at least shows that it is possible not relying on mining entirely to survive. Meanwhile, we are still expanding our mining operations - the profit will deplete but not in short term.
As I said before, the company's vision is NOT a mining company - we are more ambitious than that. I have tried not to give ppl such an impression; if you are led to think that we are a mining company, that is prob because the HaoBTC Kangding mine gets lot of publicity; understandably so - a mine is physical and visual and in case of ours, it is located in a very scenic, culturally exotic place that few set foot on, and we do exploit that for marketing purpose - we haven't been splurging money on advertisement and for all the overseas users we get, it is through honest and candid communications, as exemplified by this thread. Aside from mining, we do have a great development team working day and night on great products - please be patient.
Many startups fail not because they don't have a great vision, or a great team, but because they couldn't support themselves long enough to convince more people that the vision is legit and that they are devoted to bring it alive - in this sense, mining is just an expedient, something that carries us to the next stop. The great journey just started.

[ranlo]

I wanted to take a few minutes out of my day to chime in regarding HAOBTC support.  I was missing a deposit (less than one BTC) last night and Eric replied within six hours and the problem was rectified. Not bad, in my opinion, for such a small amount of coin held in a "foreign" account.

I'm going to move some of my balance to the finance option within the month, as I feel that HAO will continue to see growth and provide quick support.

I'll do the same & say that several weeks ago I had a similar problem. Eric promptly replied & made sure the problem was fixed by the tech support/dev team. Good customer service.

It's good to hear they're taking care of issues! I'm mostly just wondering what happens if their mining income drops significantly.. like whether or not all current balances would be repaid.

I think I touched on the topic before, but let me elaborate on it more. The plan is that we will lower the interest rate as the mining profit diminishes and eventually depletes, as it almost certainly will. Meanwhile we have been working on new projects with potential of monetization to supplant mining profit. For instance, we launched a spot trading service a couple months ago (only Chinese banks are supported, so don't get excited prematurely ) -  a couple weeks ago, I was told that that we have made a couple dozens of BTC in trading commission, and the volume is still growing. Not a lot compared with mining, but at least shows that it is possible not relying on mining entirely to survive. Meanwhile, we are still expanding our mining operations - the profit will deplete but not in short term.
As I said before, the company's vision is NOT a mining company - we are more ambitious than that. I have tried not to give ppl such an impression; if you are led to think that we are a mining company, that is prob because the HaoBTC Kangding mine gets lot of publicity; understandably so - a mine is physical and visual and in case of ours, it is located in a very scenic, culturally exotic place that few set foot on, and we do exploit that for marketing purpose - we haven't been splurging money on advertisement and for all the overseas users we get, it is through honest and candid communications, as exemplified by this thread. Aside from mining, we do have a great development team working day and night on great products - please be patient.
Many startups fail not because they don't have a great vision, or a great team, but because they couldn't support themselves long enough to convince more people that the vision is legit and that they are devoted to bring it alive - in this sense, mining is just an expedient, something that carries us to the next stop. The great journey just started.

Thanks for elaborating more! I haven't heard what the end goal is, though... like what is HaoBTC, in its later years, planning to be doing for income? The trading system is a great idea, but it seems like there's actually a very different vision?

[EthanB]

I have done some reading and I can't seem to find how long it will take for ROI. Hourly payments are great, but how long will it take for me to get back what I put in?

[Eric Mu]

I have done some reading and I can't seem to find how long it will take for ROI. Hourly payments are great, but how long will it take for me to get back what I put in?

The value proposition of HaoBTC at the moment is the convenience of an easy-to-use BTC wallet plus interest.
It is supposed to be no different from any mainstream BTC wallets out there in the market from the pure perspective of user experience, except users get the benefit of mining dividends.
If you want high return rate, this may not be your thing. The highest rate we give at the moment is 15.58% but you have to keep your money in your Finance account for eleven months to get that rate.

[EthanB]

I have done some reading and I can't seem to find how long it will take for ROI. Hourly payments are great, but how long will it take for me to get back what I put in?

The value proposition of HaoBTC at the moment is the convenience of an easy-to-use BTC wallet plus interest.
It is supposed to be no different from any mainstream BTC wallets out there in the market from the pure perspective of user experience, except users get the benefit of mining dividends.
If you want high return rate, this may not be your thing. The highest rate we give at the moment is 15.58% but you have to keep your money in your Finance account for eleven months to get that rate.

Definitely will look into this more when I have enough BTC for it to be significant.

[Eric Mu]

I wanted to take a few minutes out of my day to chime in regarding HAOBTC support.  I was missing a deposit (less than one BTC) last night and Eric replied within six hours and the problem was rectified. Not bad, in my opinion, for such a small amount of coin held in a "foreign" account.

I'm going to move some of my balance to the finance option within the month, as I feel that HAO will continue to see growth and provide quick support.

I'll do the same & say that several weeks ago I had a similar problem. Eric promptly replied & made sure the problem was fixed by the tech support/dev team. Good customer service.

It's good to hear they're taking care of issues! I'm mostly just wondering what happens if their mining income drops significantly.. like whether or not all current balances would be repaid.

I think I touched on the topic before, but let me elaborate on it more. The plan is that we will lower the interest rate as the mining profit diminishes and eventually depletes, as it almost certainly will. Meanwhile we have been working on new projects with potential of monetization to supplant mining profit. For instance, we launched a spot trading service a couple months ago (only Chinese banks are supported, so don't get excited prematurely ) -  a couple weeks ago, I was told that that we have made a couple dozens of BTC in trading commission, and the volume is still growing. Not a lot compared with mining, but at least shows that it is possible not relying on mining entirely to survive. Meanwhile, we are still expanding our mining operations - the profit will deplete but not in short term.
As I said before, the company's vision is NOT a mining company - we are more ambitious than that. I have tried not to give ppl such an impression; if you are led to think that we are a mining company, that is prob because the HaoBTC Kangding mine gets lot of publicity; understandably so - a mine is physical and visual and in case of ours, it is located in a very scenic, culturally exotic place that few set foot on, and we do exploit that for marketing purpose - we haven't been splurging money on advertisement and for all the overseas users we get, it is through honest and candid communications, as exemplified by this thread. Aside from mining, we do have a great development team working day and night on great products - please be patient.
Many startups fail not because they don't have a great vision, or a great team, but because they couldn't support themselves long enough to convince more people that the vision is legit and that they are devoted to bring it alive - in this sense, mining is just an expedient, something that carries us to the next stop. The great journey just started.

Thanks for elaborating more! I haven't heard what the end goal is, though... like what is HaoBTC, in its later years, planning to be doing for income? The trading system is a great idea, but it seems like there's actually a very different vision?

The company is built on the vision of promoting the awareness and adoption of BTC - in this sense, we are not purely profit-driven. For instance, we recently hired a guy to do some BTC evangelical work. Much we have done is about creating tools enabling more people to use BTC with greater confidence and comfort. Mining is important because contrary to common belief, the BTC economy, until the last coin is mined, has been and will continue to be inflationary as everyday thousands of BTC is injected into the system and we intend to help our users to hedge against the inflation-related risk. Trading is important in that it helps more people to buy BTC and sell if they need to - our user interface is designed to be simple, unlike the exchanges targeting day traders which can be intimidating for newbies with all those order types. To date, we have kept the record of the fastest cash withdrawal speed. We also did things that are meant to be beneficiary to the community, not immediately to ourselves - for example, our multi-sig enterprise vault, which we knew there was no way to monetize even before we started but we did it anyway, because we think it may mitigate the trust issue faced by many BTC companies. In the future, what we do will continue to be what will make BTC more useful and more popular.

[ranlo]

I wanted to take a few minutes out of my day to chime in regarding HAOBTC support.  I was missing a deposit (less than one BTC) last night and Eric replied within six hours and the problem was rectified. Not bad, in my opinion, for such a small amount of coin held in a "foreign" account.

I'm going to move some of my balance to the finance option within the month, as I feel that HAO will continue to see growth and provide quick support.

I'll do the same & say that several weeks ago I had a similar problem. Eric promptly replied & made sure the problem was fixed by the tech support/dev team. Good customer service.

It's good to hear they're taking care of issues! I'm mostly just wondering what happens if their mining income drops significantly.. like whether or not all current balances would be repaid.

I think I touched on the topic before, but let me elaborate on it more. The plan is that we will lower the interest rate as the mining profit diminishes and eventually depletes, as it almost certainly will. Meanwhile we have been working on new projects with potential of monetization to supplant mining profit. For instance, we launched a spot trading service a couple months ago (only Chinese banks are supported, so don't get excited prematurely ) -  a couple weeks ago, I was told that that we have made a couple dozens of BTC in trading commission, and the volume is still growing. Not a lot compared with mining, but at least shows that it is possible not relying on mining entirely to survive. Meanwhile, we are still expanding our mining operations - the profit will deplete but not in short term.
As I said before, the company's vision is NOT a mining company - we are more ambitious than that. I have tried not to give ppl such an impression; if you are led to think that we are a mining company, that is prob because the HaoBTC Kangding mine gets lot of publicity; understandably so - a mine is physical and visual and in case of ours, it is located in a very scenic, culturally exotic place that few set foot on, and we do exploit that for marketing purpose - we haven't been splurging money on advertisement and for all the overseas users we get, it is through honest and candid communications, as exemplified by this thread. Aside from mining, we do have a great development team working day and night on great products - please be patient.
Many startups fail not because they don't have a great vision, or a great team, but because they couldn't support themselves long enough to convince more people that the vision is legit and that they are devoted to bring it alive - in this sense, mining is just an expedient, something that carries us to the next stop. The great journey just started.

Thanks for elaborating more! I haven't heard what the end goal is, though... like what is HaoBTC, in its later years, planning to be doing for income? The trading system is a great idea, but it seems like there's actually a very different vision?

The company is built on the vision of promoting the awareness and adoption of BTC - in this sense, we are not purely profit-driven. For instance, we recently hired a guy to do some BTC evangelical work. Much we have done is about creating tools enabling more people to use BTC with greater confidence and comfort. Mining is important because contrary to common belief, the BTC economy, until the last coin is mined, has been and will continue to be inflationary as everyday thousands of BTC is injected into the system and we intend to help our users to hedge against the inflation-related risk. Trading is important in that it helps more people to buy BTC and sell if they need to - our user interface is designed to be simple, unlike the exchanges targeting day traders which can be intimidating for newbies with all those order types. To date, we have kept the record of the fastest cash withdrawal speed. We also did things that are meant to be beneficiary to the community, not immediately to ourselves - for example, our multi-sig enterprise vault, which we knew there was no way to monetize even before we started but we did it anyway, because we think it may mitigate the trust issue faced by many BTC companies. In the future, what we do will continue to be what will make BTC more useful and more popular.

It's interesting to say that, as many make the same claim but don't mean it. I'm guessing the company holds a lot of crypto-related assets, though, in that spreading/increasing adoption is a selfish, rather than selfless, task, correct? i.e., "as awareness spreads, our money becomes more valuable, as well!"

[Eric Mu]

I wanted to take a few minutes out of my day to chime in regarding HAOBTC support.  I was missing a deposit (less than one BTC) last night and Eric replied within six hours and the problem was rectified. Not bad, in my opinion, for such a small amount of coin held in a "foreign" account.

I'm going to move some of my balance to the finance option within the month, as I feel that HAO will continue to see growth and provide quick support.

I'll do the same & say that several weeks ago I had a similar problem. Eric promptly replied & made sure the problem was fixed by the tech support/dev team. Good customer service.

It's good to hear they're taking care of issues! I'm mostly just wondering what happens if their mining income drops significantly.. like whether or not all current balances would be repaid.

I think I touched on the topic before, but let me elaborate on it more. The plan is that we will lower the interest rate as the mining profit diminishes and eventually depletes, as it almost certainly will. Meanwhile we have been working on new projects with potential of monetization to supplant mining profit. For instance, we launched a spot trading service a couple months ago (only Chinese banks are supported, so don't get excited prematurely ) -  a couple weeks ago, I was told that that we have made a couple dozens of BTC in trading commission, and the volume is still growing. Not a lot compared with mining, but at least shows that it is possible not relying on mining entirely to survive. Meanwhile, we are still expanding our mining operations - the profit will deplete but not in short term.
As I said before, the company's vision is NOT a mining company - we are more ambitious than that. I have tried not to give ppl such an impression; if you are led to think that we are a mining company, that is prob because the HaoBTC Kangding mine gets lot of publicity; understandably so - a mine is physical and visual and in case of ours, it is located in a very scenic, culturally exotic place that few set foot on, and we do exploit that for marketing purpose - we haven't been splurging money on advertisement and for all the overseas users we get, it is through honest and candid communications, as exemplified by this thread. Aside from mining, we do have a great development team working day and night on great products - please be patient.
Many startups fail not because they don't have a great vision, or a great team, but because they couldn't support themselves long enough to convince more people that the vision is legit and that they are devoted to bring it alive - in this sense, mining is just an expedient, something that carries us to the next stop. The great journey just started.

Thanks for elaborating more! I haven't heard what the end goal is, though... like what is HaoBTC, in its later years, planning to be doing for income? The trading system is a great idea, but it seems like there's actually a very different vision?

The company is built on the vision of promoting the awareness and adoption of BTC - in this sense, we are not purely profit-driven. For instance, we recently hired a guy to do some BTC evangelical work. Much we have done is about creating tools enabling more people to use BTC with greater confidence and comfort. Mining is important because contrary to common belief, the BTC economy, until the last coin is mined, has been and will continue to be inflationary as everyday thousands of BTC is injected into the system and we intend to help our users to hedge against the inflation-related risk. Trading is important in that it helps more people to buy BTC and sell if they need to - our user interface is designed to be simple, unlike the exchanges targeting day traders which can be intimidating for newbies with all those order types. To date, we have kept the record of the fastest cash withdrawal speed. We also did things that are meant to be beneficiary to the community, not immediately to ourselves - for example, our multi-sig enterprise vault, which we knew there was no way to monetize even before we started but we did it anyway, because we think it may mitigate the trust issue faced by many BTC companies. In the future, what we do will continue to be what will make BTC more useful and more popular.

It's interesting to say that, as many make the same claim but don't mean it. I'm guessing the company holds a lot of crypto-related assets, though, in that spreading/increasing adoption is a selfish, rather than selfless, task, correct? i.e., "as awareness spreads, our money becomes more valuable, as well!"

Ehh, that is prob true. The boundary btw altruism and self-interest can be blurry. Sometimes you help people, thinking you are selfless in motivation, but at a deeper level, you may expect them to reciprocate when called upon

[ranlo]

I wanted to take a few minutes out of my day to chime in regarding HAOBTC support.  I was missing a deposit (less than one BTC) last night and Eric replied within six hours and the problem was rectified. Not bad, in my opinion, for such a small amount of coin held in a "foreign" account.

I'm going to move some of my balance to the finance option within the month, as I feel that HAO will continue to see growth and provide quick support.

I'll do the same & say that several weeks ago I had a similar problem. Eric promptly replied & made sure the problem was fixed by the tech support/dev team. Good customer service.

It's good to hear they're taking care of issues! I'm mostly just wondering what happens if their mining income drops significantly.. like whether or not all current balances would be repaid.

I think I touched on the topic before, but let me elaborate on it more. The plan is that we will lower the interest rate as the mining profit diminishes and eventually depletes, as it almost certainly will. Meanwhile we have been working on new projects with potential of monetization to supplant mining profit. For instance, we launched a spot trading service a couple months ago (only Chinese banks are supported, so don't get excited prematurely ) -  a couple weeks ago, I was told that that we have made a couple dozens of BTC in trading commission, and the volume is still growing. Not a lot compared with mining, but at least shows that it is possible not relying on mining entirely to survive. Meanwhile, we are still expanding our mining operations - the profit will deplete but not in short term.
As I said before, the company's vision is NOT a mining company - we are more ambitious than that. I have tried not to give ppl such an impression; if you are led to think that we are a mining company, that is prob because the HaoBTC Kangding mine gets lot of publicity; understandably so - a mine is physical and visual and in case of ours, it is located in a very scenic, culturally exotic place that few set foot on, and we do exploit that for marketing purpose - we haven't been splurging money on advertisement and for all the overseas users we get, it is through honest and candid communications, as exemplified by this thread. Aside from mining, we do have a great development team working day and night on great products - please be patient.
Many startups fail not because they don't have a great vision, or a great team, but because they couldn't support themselves long enough to convince more people that the vision is legit and that they are devoted to bring it alive - in this sense, mining is just an expedient, something that carries us to the next stop. The great journey just started.

Thanks for elaborating more! I haven't heard what the end goal is, though... like what is HaoBTC, in its later years, planning to be doing for income? The trading system is a great idea, but it seems like there's actually a very different vision?

The company is built on the vision of promoting the awareness and adoption of BTC - in this sense, we are not purely profit-driven. For instance, we recently hired a guy to do some BTC evangelical work. Much we have done is about creating tools enabling more people to use BTC with greater confidence and comfort. Mining is important because contrary to common belief, the BTC economy, until the last coin is mined, has been and will continue to be inflationary as everyday thousands of BTC is injected into the system and we intend to help our users to hedge against the inflation-related risk. Trading is important in that it helps more people to buy BTC and sell if they need to - our user interface is designed to be simple, unlike the exchanges targeting day traders which can be intimidating for newbies with all those order types. To date, we have kept the record of the fastest cash withdrawal speed. We also did things that are meant to be beneficiary to the community, not immediately to ourselves - for example, our multi-sig enterprise vault, which we knew there was no way to monetize even before we started but we did it anyway, because we think it may mitigate the trust issue faced by many BTC companies. In the future, what we do will continue to be what will make BTC more useful and more popular.

It's interesting to say that, as many make the same claim but don't mean it. I'm guessing the company holds a lot of crypto-related assets, though, in that spreading/increasing adoption is a selfish, rather than selfless, task, correct? i.e., "as awareness spreads, our money becomes more valuable, as well!"

Ehh, that is prob true. The boundary btw altruism and self-interest can be blurry. Sometimes you help people, thinking you are selfless in motivation, but at a deeper level, you may expect them to reciprocate when called upon

Yeah, I'm not against it at all. I help with many projects because the end result will be beneficial all around, . Just seeing if we were on the same page with reasoning.

[Mikestang]

I have done some reading and I can't seem to find how long it will take for ROI. Hourly payments are great, but how long will it take for me to get back what I put in?

A Return On Investment is realized, by definition, as soon as your investment makes a net profit.  In the case of the HaoBTC basic 6% investment account, that profit occurs as soon as the interest you earn on your deposit is more than the tx fee to transfer the btc to your investment account.  For me that ROI only took a few days.

If you're asking how long to double your investment, well then a simple compounding interest calculation will tell you what you're after; economics 101, my friend.

[Icon]

Just found out about this site and very interested in investing, but have 2 questions..

1. ) the FAQ is all in Chinese and not in English. (lol guess that's not a question )

2.) the hourly interest, is that compounded or just the initial deposit that was made?


Thanks

Icon

[ranlo]

Just found out about this site and very interested in investing, but have 2 questions..

1. ) the FAQ is all in Chinese and not in English. (lol guess that's not a question )

2.) the hourly interest, is that compounded or just the initial deposit that was made?


Thanks

Icon

Yeah, I inquired a couple months ago about doing a translation for them and Eric said he already had someone lined up. Doesn't appear to have done anything, though.

And interest is compounded.

[jadefalke]

Hi,

can you explain how you ensure that the User Funds are secure? Recently a lot of Exchanges or Cloud Mining Services were hacked and User funds disappeard.
Do you have an Insurance to cover such an Issue? Did you ever an Audit of you Plattform by a third Party Security Company?

[Indianacoin]

Hi,

can you explain how you ensure that the User Funds are secure? Recently a lot of Exchanges or Cloud Mining Services were hacked and User funds disappeard.
Do you have an Insurance to cover such an Issue? Did you ever an Audit of you Plattform by a third Party Security Company?

I think they have fractional reversed wallets to secure their clients in case their hot wallets get compromised! Eric might throw some light upon this What i worry is mostly about their exit strategy!  Until they fully translate their FAQ page, (I don't trust Google Translate ) the best bet is to wait for Eric to clear these doubts

[ranlo]

Hi,

can you explain how you ensure that the User Funds are secure? Recently a lot of Exchanges or Cloud Mining Services were hacked and User funds disappeard.
Do you have an Insurance to cover such an Issue? Did you ever an Audit of you Plattform by a third Party Security Company?

I think they have fractional reversed wallets to secure their clients in case their hot wallets get compromised! Eric might throw some light upon this What i worry is mostly about their exit strategy!  Until they fully translate their FAQ page, (I don't trust Google Translate ) the best bet is to wait for Eric to clear these doubts

I wouldn't be worried about exit strategy. Just securing funds. As Eric has said in response to my questions, the worst that would happen to users is no more interest. But asking what happens if they're hacked is a great question.

[Indianacoin]

I wouldn't be worried about exit strategy. Just securing funds. As Eric has said in response to my questions, the worst that would happen to users is no more interest. But asking what happens if they're hacked is a great question.

I think they need to introduce some bounty campaigns in order to detect any backdoor(s) if present within their databases. And most importantly, trusting their staff members is vital to run an investment scheme where any miracle may happen anytime and the staff members doesn't run away with all the funds !

[DebitMe]

How many confirmations normally does it take to get coins in?  I have 10 confirmations and they haven't shown up yet.  Will email support.

[yslyung]

How many confirmations normally does it take to get coins in?  I have 10 confirmations and they haven't shown up yet.  Will email support.

it's actually pretty fast. 10 conf is way too long.