[ANN] HaoBTC, mining dividend paid out hourly

[zalucia]

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.

The HaoBTC has a 12-15% interest rate for monthly saving account, it is better than the Pacmic. If the difficulty rise, you might not get back the original investment from Pacmic.

[Mikestang]

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.

Congrats on the event, I saw the postings on twitter.  Good to see HaoBTC taking a proactive stance, and as I understand it the Chinese big guns are in favor of a 2MB block size.

[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.

The HaoBTC has a 12-15% interest rate for monthly saving account, it is better than the Pacmic. If the difficulty rise, you might not get back the original investment from Pacmic.

12-15%? I was told it s just above 3%. Please clarify this.

[Eric Mu]

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.

The HaoBTC has a 12-15% interest rate for monthly saving account, it is better than the Pacmic. If the difficulty rise, you might not get back the original investment from Pacmic.

12-15%? I was told it s just above 3%. Please clarify this.

HaoBTC offers two types of accounts:
Wallet: interest rate 3% APR
Finance: interest rate 12% - 15.58% APR; interest rate increases incrementally every month

[Mikestang]

HaoBTC offers two types of accounts:
Wallet: interest rate 3% APR
Finance: interest rate 12% - 15.58% APR; interest rate increases incrementally every month

Wallet has no minimum deposit and you can withdraw at any time and still earn interest.  Finance has a minimum deposit amount (10btc I think) and you have to keep it deposited for a fixed amount of time to earn interest.

[Icon]

 

HaoBTC offers two types of accounts:
Wallet: interest rate 3% APR
Finance: interest rate 12% - 15.58% APR; interest rate increases incrementally every month

Wallet has no minimum deposit and you can withdraw at any time and still earn interest.  Finance has a minimum deposit amount (10btc I think) and you have to keep it deposited for a fixed amount of time to earn interest.

You only earn the interest at the first of each month, used to earn hourly and withdraw, now if you withdraw before the first of the month you'll loose the interest you accrued during that month.

Oh and pay withdraw fees

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[Mikestang]

You only earn the interest at the first of each month, used to earn hourly and withdraw, now if you withdraw before the first of the month you'll loose the interest you accrued during that month.

Oh and pay withdraw fees

No, you still earn interest hourly in Wallet, but it is "frozen" until the 1st of the next month so you cannot withdraw it before then, but you still earn it.

[click post link above]

I have not seen the post regarding withdraw fees, can you link to it please?

[robelneo]

I have read about the negative and positive comments on this thread but compared to other cloud mining they are very much transparent than cldmine and other cloud mining sites,as you can see the op always update this thread and makes it a point to always answer all inquiries

[Undermood]

You only earn the interest at the first of each month, used to earn hourly and withdraw, now if you withdraw before the first of the month you'll loose the interest you accrued during that month.

Oh and pay withdraw fees

No, you still earn interest hourly in Wallet, but it is "frozen" until the 1st of the next month so you cannot withdraw it before then, but you still earn it.

Yes, we can withdraw the hourly earning once you request a withdrawal. If I remember clearly, they updates this info in somewhere of this thread.

[Icon]

no to both, first they are not a cloud mining company, they are a wallet service, and they used to allow withdraw with the accrued hourly interest, now if you withdraw before the first of each month you don't get any of the interest it has earned.

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[tsaroz]

I was one of the early investor of Haobtc where they gave above 10% on wallet balance. Still 3% compounded is as good as a real bank. It would be great if the minimum deposit for a finance be lowered to 1 BTC.

[mandica]

I was one of the early investor of Haobtc where they gave above 10% on wallet balance. Still 3% compounded is as good as a real bank. It would be great if the minimum deposit for a finance be lowered to 1 BTC.

10 bitcoin is for the rich people who can afford putting the money there for longer term without taking out now and then.

[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.

The HaoBTC has a 12-15% interest rate for monthly saving account, it is better than the Pacmic. If the difficulty rise, you might not get back the original investment from Pacmic.

12-15%? I was told it s just above 3%. Please clarify this.

HaoBTC offers two types of accounts:
Wallet: interest rate 3% APR
Finance: interest rate 12% - 15.58% APR; interest rate increases incrementally every month

Ok, I see thx. This sounds OK but I do think 10 BTC deposit limit for the Finance option is a bit too much. 5 BTC would be probably acceptable. Fixed savings account is fine, no withdrawal for a period of time.

[Eric Mu]

Hi guys,

We just changed our fee rates for BTC withdrawals:
For amount less than 1BTC, you will need to pay a fixed fee of 0.001BTC;
for amount larger than (including) 1BTC, no fee will be charged;
Transactions between two HaoBTC accounts will continue to be free.

[Lumada]

Hi guys,

We just changed our fee rates for BTC withdrawals:
For amount less than 1BTC, you will need to pay a fixed fee of 0.001BTC;
for amount larger than (including) 1BTC, no fee will be charged;
Transactions between two HaoBTC accounts will continue to be free.

Does it mean you encourage withdrawing large amount of bitcoin. That fee structure is good for rich people.

[Eric Mu]

Hi guys,

We just changed our fee rates for BTC withdrawals:
For amount less than 1BTC, you will need to pay a fixed fee of 0.001BTC;
for amount larger than (including) 1BTC, no fee will be charged;
Transactions between two HaoBTC accounts will continue to be free.

Does it mean you encourage withdrawing large amount of bitcoin. That fee structure is good for rich people.

I tend to see it more positively as a measure to disincentivise people from sending dust transactions, reducing the risk of the Blockchain being clogged up.

[Mikestang]

Does it mean you encourage withdrawing large amount of bitcoin. That fee structure is good for rich people.

I would hardly call 1BTC being "rich".  It's a bit high if dust transactions were really the concern, like 0.2 and up would be better for that, but 1BTC isn't unreasonable.  Hey, at least they still offer free tx at all!

[ranlo]

Does it mean you encourage withdrawing large amount of bitcoin. That fee structure is good for rich people.

I would hardly call 1BTC being "rich".  It's a bit high if dust transactions were really the concern, like 0.2 and up would be better for that, but 1BTC isn't unreasonable.  Hey, at least they still offer free tx at all!

With this change, though, they should take the interest back to being added/withdrawable daily, rather than monthly. Most people aren't building up 1 BTC+ in a month (note: this would mean you'd need at least 50 BTC invested) to be able to withdraw it all fee-free. So now they're holding money AND charging fees when people want to withdraw.

[jayce]

Most people aren't building up 1 BTC+ in a month (note: this would mean you'd need at least 50 BTC invested) to be able to withdraw it all fee-free. So now they're holding money AND charging fees when people want to withdraw.

They are making this rule to discourage withdrawing the bitcoin and with less people withdrawing btc then they would be able to keep the bitcoin for longer period which means they could use it for other purposes and at the same time "paying" user with just some small amount of interest (to make themselves richer )

[gribble]

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