[ANN] HaoBTC, mining dividend paid out hourly

[Eric Mu]

Eric,
Does the company wondered how the last message of the People's Bank of China to create a new cryptocurrency will affect the company's operations and other similar? Or you can submit your private opinion here?

Most people I talked to, my colleagues at HaoBTC included, interpret this as positive as it will increase awareness of cryptocurrency among the public. Also, the stated purpose of the proposed PBC Coin is combating tax evasion and money laundering, and it may drive more to embrace a free currency such as Bitcoin as a refuge.

And this view seems to have been validated by the price movement.

[usenet]

I think many people do not know what to do. On the one hand, Bitcoin is a leader. It is not controlled by international institutions. Many companies and individuals have invested large funds in the project.
Currently we heard PBC proposals. It actually improves awareness. But do not will result in a desire to control the BTC and entities in China, such as you or exchanges or miners?
That's what I'm afraid.

[Eric Mu]

I think many people do not know what to do. On the one hand, Bitcoin is a leader. It is not controlled by international institutions. Many companies and individuals have invested large funds in the project.
Currently we heard PBC proposals. It actually improves awareness. But do not will result in a desire to control the BTC and entities in China, such as you or exchanges or miners?
That's what I'm afraid.

Well, the danger that the government take the gloves off with Bitcoin isn't something new, and has been factored into the price to some extent.

And fighting from ditches, sort of, I've seen no sign that the authorities has changed its past stance.

[usenet]

I think many people do not know what to do. On the one hand, Bitcoin is a leader. It is not controlled by international institutions. Many companies and individuals have invested large funds in the project.
Currently we heard PBC proposals. It actually improves awareness. But do not will result in a desire to control the BTC and entities in China, such as you or exchanges or miners?
That's what I'm afraid.

Well, the danger that the government take the gloves off with Bitcoin isn't something new, and has been factored into the price to some extent.

And fighting from ditches, sort of, I've seen no sign that the authorities has changed its past stance.

Thank you for the opportunity to learn your opinion on this topic.
I have a bad experience if we are talking about control of all areas of life.

[piloder]

Eric,
Does the company wondered how the last message of the People's Bank of China to create a new cryptocurrency will affect the company's operations and other similar? Or you can submit your private opinion here?

Most people I talked to, my colleagues at HaoBTC included, interpret this as positive as it will increase awareness of cryptocurrency among the public. Also, the stated purpose of the proposed PBC Coin is combating tax evasion and money laundering, and it may drive more to embrace a free currency such as Bitcoin as a refuge.

But if the government promote its own coin/money, people will use that coin instead of bitcoin. Ordinary people will trust the government and bank more.

[usenet]

Eric,
Does the company wondered how the last message of the People's Bank of China to create a new cryptocurrency will affect the company's operations and other similar? Or you can submit your private opinion here?

Most people I talked to, my colleagues at HaoBTC included, interpret this as positive as it will increase awareness of cryptocurrency among the public. Also, the stated purpose of the proposed PBC Coin is combating tax evasion and money laundering, and it may drive more to embrace a free currency such as Bitcoin as a refuge.

But if the government promote its own coin/money, people will use that coin instead of bitcoin. Ordinary people will trust the government and bank more.

Not necessarily. So it is in the capitalist countries and democratic. I do not know how it is in China. Here Eric is an expert.
But in socialist and communist countries where one party ruled the whole nation ordinary people have greater confidence in the dollar than to the local currency or bank. Most often because of instability, inflation and lack of convertibility.

[Indianacoin]

I am wondering how is HaoBTC going to backup the investment value during the Bitcoin Classic split-up session during the upcoming weeks.
It will be a radical decision to make and there is no coming back I guess.

I hope all goes well during that time.

[mandica]

I am wondering how is HaoBTC going to backup the investment value during the Bitcoin Classic split-up session during the upcoming weeks.
It will be a radical decision to make and there is no coming back I guess.

I hope all goes well during that time.

It will be quite difficult if we all withdraw from the HaoBTC to our own account. HaoBTC does not have enough coin as it has sold to buy mining equipment. So it has to calm the market by saying that will let users to have both Core and Classic Coins.

[wlefever]

website is not in English, too bad  

You can change the language to English @ the bottom of the page, or when you log in.

No you are wrong. Most of their pages are not translated yet.

For example,

1. https://haobtc.com/common/mining

2. https://www.bikeji.com/t/2316

3. https://haobtc.com/common/oath (not all but still most of them are in chinese)

4. https://haobtc.com/common/transparency

5. https://haobtc.com/common/privacy-policy

6. https://haobtc.com/common/terms-of-use

7. https://haobtc.com/common/report

8. https://haobtc.com/common/faq-bitcoin

9. https://haobtc.com/common/cloud

10. https://haobtc.com/static3/pdf/haobtc_guide_1420041600.ae7647260b4f.pdf

11.

All of those pages translate on my tablet when clicking English at the bottom of the page.  Can't speak for my laptop atm.

Also I was talking about just haobtc.com where you deposit coins for the interest wallet and financing option anyways...

[usenet]

I am wondering how is HaoBTC going to backup the investment value during the Bitcoin Classic split-up session during the upcoming weeks.
It will be a radical decision to make and there is no coming back I guess.

I hope all goes well during that time.

It will be quite difficult if we all withdraw from the HaoBTC to our own account. HaoBTC does not have enough coin as it has sold to buy mining equipment. So it has to calm the market by saying that will let users to have both Core and Classic Coins.

I think that Eric should you comment on this statement.
I think that HaoBTC investing in new mines. Of course, also sells old equipment to replace them with new ones for example avalon 6 instead of antminer s3.
I think It does not matter if they hard fork for classic unlimtied or anything else, your coins will always be one.

[Icon]

ya doesn't matter what they choose, all the wallet.dat file is just a private sha256d key, so.. as long as everyone stays on that, we are fine . the fork(s) are just the qt version(s) that we all decide to use.

Icon

[crazyivan]

What is the current savings interest rate?

Thx

[Icon]

What is the current savings interest rate?

Thx

3% APR which is .25% monthly, still higher then many banks savings..

Icon

Update:

This paying for withdraw fees is getting old, that's one thing you don't have to worry about on coinbase, think i am done here till they remove the withdraw fees, lol paying more in fees then i am earning on monthly interest

[Eric Mu]

I am wondering how is HaoBTC going to backup the investment value during the Bitcoin Classic split-up session during the upcoming weeks.
It will be a radical decision to make and there is no coming back I guess.

I hope all goes well during that time.

It will be quite difficult if we all withdraw from the HaoBTC to our own account. HaoBTC does not have enough coin as it has sold to buy mining equipment. So it has to calm the market by saying that will let users to have both Core and Classic Coins.

FYI, I attended our (belated) end-of-the-year event attended by some of the most prominent Chinese Bitcoiners last night. The consensus among those who attended - including our company, is that:
1. The ideal scenario would be 2MB block size through Core;
2. Failing that, Classic but the current 75% blocks adoption activation trigger should be raised to no lower than 90%.

[crazyivan]

What is the current savings interest rate?

Thx

3% APR which is .25% monthly, still higher then many banks savings..

Icon

Update:

This paying for withdraw fees is getting old, that's one thing you don't have to worry about on coinbase, think i am done here till they remove the withdraw fees, lol paying more in fees then i am earning on monthly interest

So it s gonna down a lot since they started. What s the main cause behind this drop? Abundance of capital?

[Eric Mu]

What is the current savings interest rate?

Thx

3% APR which is .25% monthly, still higher then many banks savings..

Icon

Update:

This paying for withdraw fees is getting old, that's one thing you don't have to worry about on coinbase, think i am done here till they remove the withdraw fees, lol paying more in fees then i am earning on monthly interest

So it s gonna down a lot since they started. What s the main cause behind this drop? Abundance of capital?

Yes, that is the main rationale.
I would like to remind ppl, as I did a few times before, given the nature of Bitcoin, the interest rate is more likely to move downward than otherwise.

[Eric Mu]

We just hosted the our first end-of-the-year (Chinese calendar ) event cum Chinese Bitcoin Conference last Saturday at Binggo Cafe in Beijing. The event was attended by over 50 members of the Chinese Bitcoin community, including some of the most prominent figures, such as Wu Jihan, CEO of Bitmain, the company behind Antminer and Antpool. The guests held a lively discussion over a range of topics, esp.  the recent debate regarding two competing proposals over the Bitcoin protocol, namely the Bitcoin Core and Bitcoin Classic.

[crazyivan]

What is the current savings interest rate?

Thx

3% APR which is .25% monthly, still higher then many banks savings..

Icon

Update:

This paying for withdraw fees is getting old, that's one thing you don't have to worry about on coinbase, think i am done here till they remove the withdraw fees, lol paying more in fees then i am earning on monthly interest

So it s gonna down a lot since they started. What s the main cause behind this drop? Abundance of capital?

Yes, that is the main rationale.
I would like to remind ppl, as I did a few times before, given the nature of Bitcoin, the interest rate is more likely to move downward than otherwise.

So what s the point of operating this service then in the first place? If the interest rate goes down to 1%, the only one who profit from this venture is HAO BTC, cause you guys obtain cheap loans to expand your operations. I m not trying to criticize you or anything, I m simply trying to figure out what s there for us, ordinary users.

[wlefever]

What's in it for us is the interest earned on deposited coins.  There really isn't anything more to it. They use our invested capital to expand their farm, and we earn interest payments for temporarily loaning our coins.

Haobtc can't help the fact that the bitcoin network is constantly increasing which shrinks their margins just like any miner.  If btc price keeps appreciating they will be able to afford to make the interest payments a little longer but not forever at the same rate.

[crazyivan]

What's in it for us is the interest earned on deposited coins.  There really isn't anything more to it. They use our invested capital to expand their farm, and we earn interest payments for temporarily loaning our coins.

Haobtc can't help the fact that the bitcoin network is constantly increasing which shrinks their margins just like any miner.  If btc price keeps appreciating they will be able to afford to make the interest payments a little longer but not forever at the same rate.

I understand that but even Hashnest Pacmic, which is basically the same things, pays about 12% a year, so about 3-4x HAO. This is a very competitive market, that s my entire point. I m not going to comment anymore on this.