[ANN] HaoBTC, mining dividend paid out hourly

[notaek]

It's nice to see HaoBTC stepping forward in right direction at a correct time. Lets hope you guys keep it up at par with the other ancillary cloud mining companies like Hashnest and never look back towards small potential losses that might occur at some point of time.

BTW, can I get some statistics regarding daily inbound and outbound transactions occurring from HaoBTC and the amount of traction you've achieved so far? If not want to share it in public, can you pm me about it? That would be nicer.

[biggbox]

Eric

Are there any limitations, security checks and security risk in terms of withdrawals?

I know BW.com (Your competitor) has a manual e-mail verification that confirms your withdrawal address before the coins are released. I've also read elsewhere that Magnr.com denied a users' withdrawal (although the complainant's claims cannot be verified)

BTC withdrawal is processed automatically, so anyone who has gained access to your
1. Username (your email or phone number you registered with ) and password
2. Six-digit pin
3. 2FA device (if you have activated 2FA )
CAN empty your HaoBTC account.
It would be my advice that these three - if you have the habit of writing your logins down, either on a notepad or on the software equivalent, are kept safely and in separate places.

Hi Eric

Thank you. It's great to know that processes are automated. Are there any hard limits per withdrawal? Especially during a price spike in BTC prices, our concerns that users will be anxious to withdraw their BTCs to exchange for fiat. Will political stability or potential upcoming regulations (if any) be a concern if we were to park our BTCs with your site?

[jt byte]

I've been with them for a few weeks now and so far nothing then good things to say.
Support is fast and they have adequate security measures. A+

[sbtctalk]

Although hao btc has higher interest compared to polox lending interest, you have to factor in the accountability and stability factor.

As pointed out,  China laws are ambiguous. If polox were to go bust one day, traders and lenders could file legal actions against the site and there is a remote hope of getting some funds back.

You can't do the same for hao btc. It is up to potential investors to weigh the risk. A higher interest rate should not be the sole consideration.

[biggbox]

Although hao btc has higher interest compared to polox lending interest, you have to factor in the accountability and stability factor.

As pointed out,  China laws are ambiguous. If polox were to go bust one day, traders and lenders could file legal actions against the site and there is a remote hope of getting some funds back.

You can't do the same for hao btc. It is up to potential investors to weigh the risk. A higher interest rate should not be the sole consideration.

I thought that was a good point raised. But...

Are you based in the U.S? If you are not, will you be keen to take part in any class action suits against any entities in the U.S? If you are not, the point you raised is moot. I guess most of us in this forums are based internationally. Regardless of the sites that we are interested to place a stake in, we have to take a certain amount of risk.

[BTC LOVER]

Nice Service from HaobTc over there I really like the hot wallet Service and u get also an itnerest on the amount you lend them for this time

So far iam earning stady 117 Satoshis

An you Guys  ?

regards
BTC LOVER

[HarryKPeters]

Although hao btc has higher interest compared to polox lending interest, you have to factor in the accountability and stability factor.

As pointed out,  China laws are ambiguous. If polox were to go bust one day, traders and lenders could file legal actions against the site and there is a remote hope of getting some funds back.

You can't do the same for hao btc. It is up to potential investors to weigh the risk. A higher interest rate should not be the sole consideration.

This is the main problem I have with most non EU/US companies. Most of them have a different regulation and laws. If they (For what ever  reason) become a victim of the governement, any third party will lose their money, without any oppertunity to fight is legally.

Obviously i use those parties in China but I tried to keep my max. balance less then 1 bitcoin, to minimize a potential lose.

[ranlo]

Although hao btc has higher interest compared to polox lending interest, you have to factor in the accountability and stability factor.

As pointed out,  China laws are ambiguous. If polox were to go bust one day, traders and lenders could file legal actions against the site and there is a remote hope of getting some funds back.

You can't do the same for hao btc. It is up to potential investors to weigh the risk. A higher interest rate should not be the sole consideration.

This is the main problem I have with most non EU/US companies. Most of them have a different regulation and laws. If they (For what ever  reason) become a victim of the governement, any third party will lose their money, without any oppertunity to fight is legally.

Obviously i use those parties in China but I tried to keep my max. balance less then 1 bitcoin, to minimize a potential lose.

Normally I'd say that you can't make money without risk, but in this case, the upside is 6% per year on a very volatile (read: high-risk) asset, which is hardly something to go chasing after for an investor. I exclude the "Finance" contracts here because those aren't liquid and in and of themselves boost risk significantly.

[biggbox]

Although hao btc has higher interest compared to polox lending interest, you have to factor in the accountability and stability factor.

As pointed out,  China laws are ambiguous. If polox were to go bust one day, traders and lenders could file legal actions against the site and there is a remote hope of getting some funds back.

You can't do the same for hao btc. It is up to potential investors to weigh the risk. A higher interest rate should not be the sole consideration.

This is the main problem I have with most non EU/US companies. Most of them have a different regulation and laws. If they (For what ever  reason) become a victim of the governement, any third party will lose their money, without any oppertunity to fight is legally.

Obviously i use those parties in China but I tried to keep my max. balance less then 1 bitcoin, to minimize a potential lose.

Normally I'd say that you can't make money without risk, but in this case, the upside is 6% per year on a very volatile (read: high-risk) asset, which is hardly something to go chasing after for an investor. I exclude the "Finance" contracts here because those aren't liquid and in and of themselves boost risk significantly.

Yes. Although some companies in the non-western sphere  are able to offer higher rates and seemingly better numbers, investors forgot to factor in the political stability factor and some of these states do not have consumer protection. "International" investors like us do not offer those states any incentives such as tax returns and there are no reasons why we should be covered.

[crazyivan]

Still, halleybtc offers the same service at significantly higher interest rate. Even Hashnest Pacmic pays higher APR then this.

@crazyivan

The people behind HalleyBTC is the same behind Zeushash which ran away with investor funds. I will stay away from HalleyBTC.

Any proof of this?

[ranlo]

Still, halleybtc offers the same service at significantly higher interest rate. Even Hashnest Pacmic pays higher APR then this.

@crazyivan

The people behind HalleyBTC is the same behind Zeushash which ran away with investor funds. I will stay away from HalleyBTC.

Any proof of this?

There have been MANY instances of allegations. But like most things, it's extremely hard to piece together what's true and what's FUD. I can't personally confirm anything as a result of that, but there's been enough to keep me away (Google "halleybtc scam" and you'll find a lot).

[james.lent]

Still, halleybtc offers the same service at significantly higher interest rate. Even Hashnest Pacmic pays higher APR then this.

@crazyivan

The people behind HalleyBTC is the same behind Zeushash which ran away with investor funds. I will stay away from HalleyBTC.

Any proof of this?

In their newsletter, it stated zeushash on the footer (im guessing initially they  forgot to change this). If you've been following their thread then you'd know. Halleybtc is a confirmed scam site.

[biggbox]

Still, halleybtc offers the same service at significantly higher interest rate. Even Hashnest Pacmic pays higher APR then this.

@crazyivan

The people behind HalleyBTC is the same behind Zeushash which ran away with investor funds. I will stay away from HalleyBTC.

Any proof of this?

HalleyBTC and ZeusHash sent the exact e-mail newsletter to broadcast HalleyBTC services. Both were sent hours apart. The appearance of HalleyBTC has coincided with the non-payment of ZeusHash.

[Eric Mu]

Hi Eric

Thank you. It's great to know that processes are automated. Are there any hard limits per withdrawal? Especially during a price spike in BTC prices, our concerns that users will be anxious to withdraw their BTCs to exchange for fiat. Will political stability or potential upcoming regulations (if any) be a concern if we were to park our BTCs with your site?

Withdraw limit: There is a daily limit, though it is probably high enough that 99% of our users wouldn't feel it. Can't remember if it is 200 BTC or 500 BTC per day - need to check with my colleague.
Political stability and upcoming regulations: Personally I am not too worried. We have been in contact with lower-level government authorities in different regions since the beginning of this company. So far nobody told us that what we did is illegal. Also, I think Bitcoin is still too small to warrant any abrupt and radical government action. We have a long way to go before the government start to feel threatened. Also, the tech environment in China is pretty freewheeling and argument can be made that it is more encouraging for and tolerant of the kind of permission-less innovation which is what we see ourselves. In the US, people like Ross Ulbricht was sentenced for life. In China, I am not aware a single BTC entrepreneur, not even the bad ones, getting anything even close.
Of course, that cuts both ways.

[Eric Mu]

Although hao btc has higher interest compared to polox lending interest, you have to factor in the accountability and stability factor.

As pointed out,  China laws are ambiguous. If polox were to go bust one day, traders and lenders could file legal actions against the site and there is a remote hope of getting some funds back.

You can't do the same for hao btc. It is up to potential investors to weigh the risk. A higher interest rate should not be the sole consideration.

This is the main problem I have with most non EU/US companies. Most of them have a different regulation and laws. If they (For what ever  reason) become a victim of the governement, any third party will lose their money, without any oppertunity to fight is legally.

Obviously i use those parties in China but I tried to keep my max. balance less then 1 bitcoin, to minimize a potential lose.

Normally I'd say that you can't make money without risk, but in this case, the upside is 6% per year on a very volatile (read: high-risk) asset, which is hardly something to go chasing after for an investor. I exclude the "Finance" contracts here because those aren't liquid and in and of themselves boost risk significantly.

Yes. Although some companies in the non-western sphere  are able to offer higher rates and seemingly better numbers, investors forgot to factor in the political stability factor and some of these states do not have consumer protection. "International" investors like us do not offer those states any incentives such as tax returns and there are no reasons why we should be covered.

In the world of Bitcoin, reputation is probably greater source of deterrence than law, at least now and in China, when it comes to preventing people from doing evil. Basically, someone who gets caught once, he will get kicked out of this world forever. Think of the Mark Karpeles. Hard to imagine if this guy establish a Mt. Gox II and this exchange will get non-trivial number of users.
For guys like Wu Gang, what would the benefit be if he abscond with a few thousands user's bitcoins? - let's say that he has the ability just for argument's sake. He is happily married with a lovely seven-year-old daughter. Almost all Chinese bitcoiners know him, many having met him in person, and his pictures are on the Internet. He even publicized the scan of ID card last year when the Chinese users demanded greater transparency following the insolvency of BTC Piggy Bank. As an early miner, he has a sizable stash of BTC of his own - give up a good life and family for an extra couple thousands of BTC? I don't think so. And the company's assets are mostly in mining gear, which wouldn't be possible to resell quickly without catching attention. And it is almost impossible for him to do it alone. He would have to collude with other people, at least the CTO, who is in a more or less similar situation - forty something, stable life and in no urgent need for money. And this prospect is becoming increasingly difficult as the company grew larger.
For me, it is more or less the same. My photos are literally everywhere. Where can I go and do if I suddenly got stupid and steal, say, 1,000 BTC? The idea is just preposterous.

[Eric Mu]

Although hao btc has higher interest compared to polox lending interest, you have to factor in the accountability and stability factor.

As pointed out,  China laws are ambiguous. If polox were to go bust one day, traders and lenders could file legal actions against the site and there is a remote hope of getting some funds back.

You can't do the same for hao btc. It is up to potential investors to weigh the risk. A higher interest rate should not be the sole consideration.

This is the main problem I have with most non EU/US companies. Most of them have a different regulation and laws. If they (For what ever  reason) become a victim of the governement, any third party will lose their money, without any oppertunity to fight is legally.

Obviously i use those parties in China but I tried to keep my max. balance less then 1 bitcoin, to minimize a potential lose.

Normally I'd say that you can't make money without risk, but in this case, the upside is 6% per year on a very volatile (read: high-risk) asset, which is hardly something to go chasing after for an investor. I exclude the "Finance" contracts here because those aren't liquid and in and of themselves boost risk significantly.

In what sense do you use the word "liquid"? We actually designed the product with liquidity in mind, and it is the reason why we decided to give users the right to withdraw their principal anytime - all they will sacrifice is the interest, small relative to their investment anyway.

[ranlo]

Although hao btc has higher interest compared to polox lending interest, you have to factor in the accountability and stability factor.

As pointed out,  China laws are ambiguous. If polox were to go bust one day, traders and lenders could file legal actions against the site and there is a remote hope of getting some funds back.

You can't do the same for hao btc. It is up to potential investors to weigh the risk. A higher interest rate should not be the sole consideration.

This is the main problem I have with most non EU/US companies. Most of them have a different regulation and laws. If they (For what ever  reason) become a victim of the governement, any third party will lose their money, without any oppertunity to fight is legally.

Obviously i use those parties in China but I tried to keep my max. balance less then 1 bitcoin, to minimize a potential lose.

Normally I'd say that you can't make money without risk, but in this case, the upside is 6% per year on a very volatile (read: high-risk) asset, which is hardly something to go chasing after for an investor. I exclude the "Finance" contracts here because those aren't liquid and in and of themselves boost risk significantly.

In what sense do you use the word "liquid"? We actually designed the product with liquidity in mind, and it is the reason why we decided to give users the right to withdraw their principal anytime - all they will sacrifice is the interest, small relative to their investment anyway.

But on an investment basis, they aren't liquid. Giving up that interest turns it into a high-risk, low-reward situation, with a potential zero upside. Not saying it's "bad," but should be taken into consideratíon.

[biggbox]

Withdraw limit: There is a daily limit, though it is probably high enough that 99% of our users wouldn't feel it. Can't remember if it is 200 BTC or 500 BTC per day - need to check with my colleague.
Political stability and upcoming regulations: Personally I am not too worried. We have been in contact with lower-level government authorities in different regions since the beginning of this company. So far nobody told us that what we did is illegal. Also, I think Bitcoin is still too small to warrant any abrupt and radical government action. We have a long way to go before the government start to feel threatened. Also, the tech environment in China is pretty freewheeling and argument can be made that it is more encouraging for and tolerant of the kind of permission-less innovation which is what we see ourselves. In the US, people like Ross Ulbricht was sentenced for life. In China, I am not aware a single BTC entrepreneur, not even the bad ones, getting anything even close.
Of course, that cuts both ways.

In the world of Bitcoin, reputation is probably greater source of deterrence than law, at least now and in China, when it comes to preventing people from doing evil. Basically, someone who gets caught once, he will get kicked out of this world forever. Think of the Mark Karpeles. Hard to imagine if this guy establish a Mt. Gox II and this exchange will get non-trivial number of users.
For guys like Wu Gang, what would the benefit be if he abscond with a few thousands user's bitcoins? - let's say that he has the ability just for argument's sake. He is happily married with a lovely seven-year-old daughter. Almost all Chinese bitcoiners know him, many having met him in person, and his pictures are on the Internet. He even publicized the scan of ID card last year when the Chinese users demanded greater transparency following the insolvency of BTC Piggy Bank. As an early miner, he has a sizable stash of BTC of his own - give up a good life and family for an extra couple thousands of BTC? I don't think so. And the company's assets are mostly in mining gear, which wouldn't be possible to resell quickly without catching attention. And it is almost impossible for him to do it alone. He would have to collude with other people, at least the CTO, who is in a more or less similar situation - forty something, stable life and in no urgent need for money. And this prospect is becoming increasingly difficult as the company grew larger.
For me, it is more or less the same. My photos are literally everywhere. Where can I go and do if I suddenly got stupid and steal, say, 1,000 BTC? The idea is just preposterous.

Hi Eric. Thanks. Please be assured I am not trying to paint a bad light of your service. As the Bitcoin world is murky with bad rep scammers ruining the reputation, legitimate potential investors and users might not have a positive view of the bitcoin community. As a bitcoin user with some experience, we should ask difficult and pointed question to remind potential users of the potential risk that one is exposed to, especially if the funds/btcs are moving across national  borders. I believe my questions are of valid concern -- political stability. Especially your service is a form of long term investment.

End of the days, potential investors have to decide for themselves what is best for them and what to do with their money (coins).

[unso]

Is there a way to recover or reset my Payment Passwort?
Cause i Forgot Mine

[Eric Mu]

Is there a way to recover or reset my Payment Passwort?
Cause i Forgot Mine

Please send a request to our support email address.