[KRYPTOLOGIKA] Trade silver-backed hash power for the best prices!

[l3sny]

01/15/2015

In the last 24 hours we have fell below level of profitability due to much lower bitcoin prices reached on Tuesday and Wednesday.

We feel this is temporary and mining operation will be restored. For the time being we will try to obtain better maitenance offers from our Chinese counterparts and reduce the fees.

We will post an update before midnight CENTRAL EUROPEAN TIME.

 

kryptologika team

 

UPDATE

We have reduced maintenance fees by 5% and restored mining. We will be updating the Terms and Conditions to reflect the situation and the scenario of loss of profitability in the future. Should you have any queries please do not hesitate and contact us on support@kryptologika.pl

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[l3sny]

We have updated our Terms & Conditions. Main changes refer to the scenario of redemption of the shares if profitability drops to negative. As mentioned before we have also reduced maintenance fees by 5%. We will try to decrease them further in the future.

[Puppet]

Since l3sny doesnt deem it necessary to inform its customers (if any), I feel I should.

kryptologika is/was basically a AMhash passthrough operation that took a margin on top off AMhash prices and added some (IMO quite pointless) token amount of silver in the mix.

The issue of course, is that AMhash is in limbo, with their hardware allegedly stolen and friedcat missing in action. That means kryptologika doesnt have any hashrate backing its contracts either, whatever its paying in dividends doesnt come from mining right now and kryptologika is essentially running as a fractional reserve/ponzi scheme.

Id have much preferred if l3sny had chosen to inform you of this, along with presenting his recovery plans  (if any) and temporarily suspending trade to allow Q&A, but since he refused, you'll have to hear it from me.

[l3sny]

I was just wondering when Puppet will show his true colors and start spreading FUD. I am really disgusted with you.
At some stage a few months ago I considered Puppet to be trusted and worthy member of the bitcoin community as he did a decent work endorsing scams. I have disclosed to him some of the details of our operations. He refused to check our hashrates then. I thought he could be trusted but now I can see how much damage he can make to our brand, my name and kryptologika users.

Kryptologika since the beginning has used many services always looking for the best prices. Before that we mined on our own equipment, at various stages used different providers. And we still do so. We mine, we p[ay dividends and we are not going to go belly up any time soon. I have communicated this to Puppet in private communication. But no, he wants some attention

I hope you all can judge for yourselves. Should this cause panic and major sell off.... well it is your decision.

Nothing has happened, I have nothing to communicate to our customers, business as usual.

PS

Puppet you're an idiot. You have no idea of how mining operations work. All that you see everywhere are scams, and ponzi schemes. I will not address in any way your accusations or revelations in the future as I am sure they will be more. Basically you're a danger to reliable and trustworthy businesses in mining. You just cannot be trusted.

[Puppet]

He refused to check our hashrates then.

No, I refused to base my assessment on non-public information that I was asked to keep secret. You should have let everyone check your hashrates, not just me,  then Id gladly have checked it and anyone could have double checked it. Not disclosing this information publicly would mean my assessment would require people to trust me, which is not much help, thats why I told you: make it public or I will ignore it.

Kryptologika since the beginning has used many services always looking for the best prices. Before that we mined on our own equipment, at various stages used different providers.

'has used" is past tense. You told me a few months ago your hashrate came from AMhash. Are you denying this? If you have other sources, I strongly suggest you make the evidence public. Otherwise people would be wise to assume you dont have any atm.

Nothing has happened, I have nothing to communicate to our customers, business as usual.

Right. Nothing happened to AM, your hashrate provider...

[l3sny]

I do not mind if you cause more panic regarding kryptologika. It is my users to judge whether to cash out or stay. Their choice.
Amhash problem does not affect kryptologika in a scale that would require suspending operations or any emergency communication. But Puppet go ahead, try to sink kryptologika. Good luck

[Puppet]

Amhash problem does not affect kryptologika in a scale that would require suspending operations or any emergency communication.

This is what you wrote to me:

So basically we are buying GH/s for 0.0012 and offering them at kryptologika making profits on the price difference and maintenance difference.
At the moment we have 4180.00 GH/s on hashie.co 
to verify that you have to enter my e-mail address here:
http://amhash.com/hashie/index.php
my address is *****
[..]
The remaining 382GH/s is still on hashnest as I was not able to sell all the GH/s there.

Given that AMhash is currently gone, Ill let your customers decide if losing >90% of your hashrate required any communication or how they think you can make profit from such a loss and at who's expense that would be.

[l3sny]

Please go ahead and spread the word as it pleases you. But remember that all you do may cause damage to the customers who cash out early with a loss. Can you take responsibility for your actions? Please confirm it in public that if you were wrong will you apologize for spreading FUD and causing unnecessary distress? Will you have the balls to admit you were wrong ?

Apart from that this communication was exchanged many many months ago and we reduced our prices and costs twice since. I cannot see in what way our customers or anyone may benefit from what you are saying. Do not you feel disgusted with yourself disclosing private communication ?

[Puppet]

Please go ahead and spread the word as it pleases you. But remember that all you do may cause damage to the customers who cash out early with a loss. Can you take responsibility for your actions? Please confirm it in public that if you were wrong will you apologize for spreading FUD and causing unnecessary distress? Will you have the balls to admit you were wrong ?

What could I be wrong about exactly? 
If you fed me false information, then its not likely Im the one who has to apologize for that.
If amhash resurfaces, then you and your customers will get lucky, but I wouldnt have been wrong in warning them and its up to them to gauge those odds.  Panic selling could have been avoided if you had disclosed the information and suspended trading for a while to allow investors to catch up. You flatly refused to do either, so thats not on me.

Apart from that this communication was exchanged many many months ago and we reduced our prices and costs twice since. I cannot see in what way our customers or anyone may benefit from what you are saying.

You dont feel they deserve to know that you no longer control what you sold to them ? Do you think AMhash should not have told their customers what was going on either?

Do not you feel disgusted with yourself disclosing private communication ?

On the contrary. Ive kept this private for long enough now. The moment AMhash collapsed I told you you should inform your customers of the impact on your business. When you refused I felt obligated to come forward, and Id feel disgusted not telling and allowing you to run a fractional reserve/ponzi scheme.

[l3sny]

What could I be wrong about exactly?  
If you fed me false information, then its not likely Im the one who has to apologize for that.
If amhash resurfaces, then you and your customers will get lucky, but I wouldnt have been wrong in warning them and its up to them to gauge those odds.  Panic selling could have been avoided if you had disclosed the information and suspended trading for a while to allow investors to catch up. You flatly refused to do either, so thats not on me.

You see we have not promised to buy back at fixed prices should the shares be falling like stones. It is entirely up to our customers to decide.

I can take responsibility for my actions, I am easy to be traced, the details of our company are in public domain on our website. You are positioning yourself as an arbiter in a situation where I in good faith disclosed to you some information which (at the time) was vital to our business. Now you are not privy to any details and you will never be trusted again because this situation illustrates who you really are - a lowlife trying to destroy a business but most of all spreading disinformation to our customers. I repeat: there is no situation that would require any special actions or communication to our customers. We are paying the dividends and trading as usual and we are mining. Amhash situation is not affecting us in any significant way, as you well know there are many better offers on the market which in turn will benefit our customers as we are reducing the maintenance prices gradually always looking for better opportunities to buy cheap hashing power. Unfortunately we cannot afford to be transparent, (we tried with Puppet and this is what has happened). It is all changing in this business, you buy you sell, you mine. It is simply impossible and not practical to be transparent for individuals like Puppet to please them so that at any time he can call the shots and demand to do what he wants.

We will continue to run our operations as normal. I am sorry Puppet that we will not cease our business as you want and I hope that you understand this and apologize in public for your actions should this spread and cause panic sell. I will be referring to this from time to time and reminding you of this. So be careful what you are doing.

You dont feel they deserve to know that you no longer control what you sold to them ? Do you think AMhash should not have told their customers what was going on either?

I do not feel anything. I am curious how this situation is going to develop. I think the people who run such operations have to be responsible for the loss if they occur not to avoid it as do the main actors do in this situation.

n the contrary. Ive kept this private for long enough now. The moment AMhash collapsed I told you you should inform your customers of the impact on your business. When you refused I felt obligated to come forward, and Id feel disgusted not telling and allowing you to run a fractional reserve/ponzi scheme.

Private stays private forever. You are not trustworthy Puppet which is sad.  You are not in a position to be telling me what I should or should not be doing and this is not going to change.

[NotLambchop]

"KRYPTOLOGIKA   Trade  Silver-Backed  GH/s  For  The  Best  Prices!" <==That's hilarious!  WTF is a "silver-backed GH/s"?  Hahahahaha.
Getting the feeling that "doing business" here is about as complicated (and as sporting) as shooting fish in a barrel.
How many silver-backed gigahashes have you sold and/or traded, per second?

*Bonus points for "KRYPTOLOGIKA"--
+1 for C->K swap.  Always clever, badass & appropriate (see: Krime/Khryme/Krhyme)
+1 for "LOGICA" because sophisticated & sciency, with just a touch of foregnese (see: )

GG, brah!

[l3sny]

You should have read T&C or "How it works" to learn what is our offer.
If you have any specific questions I am happy to answer them here.

[NotLambchop]

^Nah, no questions, seen before/know how it works.
Just giving U props, brah.  Hilarious shit!

[l3sny]

I am not sure what do you mean...
Silver now is say $15.50 but it used to be $48.00 in may 2012.
Gold is dropping as well...  But at some stage silver will go much much higher and this may pull the price of the shares up.
 
So basically if you are buying shares in kryptologika you are also investing in physical silver. It is unique and serves the purpose of  effective marketing. It is also cheaper than mining at home on your antminer. You can buy\sell it at 0% fee, play on the market etc. We are also selling GHs in larger quantities for EUR.

[NotLambchop]

...
So basically if you are buying shares in kryptologika you are also investing in physical silver. It is unique and serves the purpose of  effective marketing. ...

Whoa, like a free toy in my Happy Meal!
The Bitcoiner mom in me loves nutritious hashes, while my goldbuggy kid side wants that silver prize!  Genious!

SODL!!11!
Seriously tho, I'm a fan.  Enjoy the free bump & padding away from that nasty Puppet comment.

[l3sny]

Ahhh.... I am a silverbug at heart!
At some stage we will be making our own bars and selling them here and there. Just not yet, not yet...

We have quite a strong fan base (and yes this is for your information  you ugly Puppet!!) and we do not want to let them down so I would rather sell my internal organs than let this project to go down.

[flyingplows]

NOW LISTEN TO THIS:
i feel i also have the right to tell what i think about puppet''s rating, and i think it is corrupted or at least biased.
amhash should be rated:

1. o.5 points (no user selectable pool)
2. 1 (rockminer has no equipment and asicminer is laughable - is it even a company lol, it is rather a person of semi-anonymous identity)
3. 1 (i did not see any picture that holds a note it belongs to amhash - it can be pictures of any farm) - plz correct me if i am wrong on this one Smiley
4. 1 (lol, it is beyond stupidity, its not even a criteria, like, of course, if you sell in batches or if you claim huge hashrate at once in the first place - you are more legit  Grin, so its 1 cause you give it for everyone else.)
6. 1 (real amhash operators ARE anonymous)
7. 1 (unless puppet tells me how to exit now)
8. 1 (is a blatant lie by puppet - just take a look at the 1st page on amhash thread - friedcat says "3. Guaranteed profit".)

so amhash should score 6.5 = ponzi/scam, and i lost money because of you puppet, not a big amount but your rating causes more damage than it helps, especially if people trust you.
what i wanted to say - if people are to trust puppet - you people keep in mind that one incorrect rating causes 100x more damage than all the correct ones will save you, because you'll not need an advice on the obvious either way and you may be misled on the ones that really matter...
puppet i trusted you without much research and i was burnt because of your corrupt rating, i will never trust you anymore.
p.s. if you dont mind disclosing private communications with you from cloudmining operator - please disclose communications between you and amhash, i think everybody would be interested now.

[l3sny]

Man! Please tell the world I am not paying you for this!!

[flyingplows]

well no, i am not invested here and he does not pay me... wtf, can you give me 10 ghs for testing if i register ?  i might buy some shares if they drop though  

[flyingplows]

by the way, the one u should have payed seems to be that self-assigned scamexpert because if you were higher on his list i would have bought yours shares instead of amhash, and at least they would be worth smth by now...   isnt is funny?