AMHash1: Cost-Effective Mining Contract

[friedcat]

AMHash1 is the first of a series of mining contracts.

In this contract, the hashrate is provided by ASICMiner, the management is provided by
RockMiner, and the platform is provided by HavelockInvestments.

For updates please view
http://www.amhash.com/

The purchasing site is
https://www.havelockinvestments.com/order.php?symbol=AMHASH1

The forum contact ID is amhash. The email contact is fund@amhash.com.

Introduction
AMHash1 is a mining Fund which has 5 Peta-hash per second or (5,000,000 Giga-hashes per second) in total.
The Fund is divided into 5 million (5,000,000) s each of which represents 1Gigahash per second.
The price of each unit is 1.25 mBTC (0.00125 BTC).
The contract starts at 18:00:00 in November 4, 2014(Beijing Time, GMT+8).
The time is based on forum time.

Duration for the IPO:
IPO Starting Time: 18:00:00, October 24, 2014(Beijing Time, GMT+8)
IPO Closing Time: 18:00:00, November 4, 2014(Beijing Time, GMT+8)

Advantages
1. Higher ROI; low cost on both initial price and maintenance fee.

2. Flexible trading; the contract is fully tradable at the secondary market through Havelock Investments trading platform allowing you to exit your position at any time.

3. Guaranteed profit; Compared to others, AMHash1 Fund will pay you dividends based on hashrate equivalent calculation protecting your earnings and shielding you from hardware maintenance cost and risk.

5. It simplifies the ROI estimations by eliminating the factors involved in constructing a mining farm, such as infrastructure cost, shipping time, repairing, electricity bill and labor.

6. 100% real hasharate; The live photos of mining farm and hashrate monitor platform will be provided and fully disclosed.

Payout calculation
Payouts are done daily.

The payout rate before fee substraction is 25 / (difficulty * 4.295) BTC per unit per second.

The fee is 1.89*10^(-8) USD per unit per second. It will be substracted from the pre-fee payout rate. The exchange rate is based on bitstamp 24h average.

The total seconds of each payout is:

1. in the first payout, 3,600 * 24.

2. During normal payouts, the number of seconds during the most recent payout to this payout.

If there is a difficulty change between two payouts, the due payout will be calculated based on two different difficulties and their corresponding time intervals.

If the calculated payout after fee substraction is less than or equal to zero, the contract will be suspended. If the number of subsequent days suspended reaches 10, the contract terminates.

Risk control
1. Before IPO closes, ASICMiner has the right to buy back at the price of IPO price * 100.5%.

2. During the first 45 days after IPO closes, ASICMiner has the right to buy back at the price of (IPO price - total payouts) * 120%. The notification period is 3 days.

3. If the delay of payment happens, all unpaid payments will be accounted separately on daily basis and increase by 0.02% per day(flat rate based on the initial unpaid payment amount, no compound rate) after three days.

[1714222392]

1714222392

[amhash]

People who have questions can release on this thread ,PM or email us.
We will update latest news on our web http://amhash.com/ too.

[ujka]

Please update the IPO closing time - it's different in each place it's mentioned - OP here, havelock, webpage ?

The same about Contract start date.

[havelock]

Duration for the IPO:
IPO Starting Time: 18:00:00, October 24, 2014(Beijing Time, GMT+8)  6 AM EST
IPO Closing Time: 18:00:00, November 4, 2014(Beijing Time, GMT+8) 6 AM EST

[Elvis Trout]

As someone who has been burned by mining projects in the past, just want to warn people you will most likely lose money on this

If the mining rigs were profitable they wouldn't be selling them to you, it's not a charity. Best of luck!

[Blazed]

As someone who has been burned by mining projects in the past, just want to warn people you will most likely lose money on this

If the mining rigs were profitable they wouldn't be selling them to you, it's not a charity. Best of luck!

Exactly...I will say with AM's you will lose less than with others, but you most likey will not get a positive ROI.

[zoinky]

Woo more cloud mining!

[Germican]

As someone who has been burned by mining projects in the past, just want to warn people you will most likely lose money on this

If the mining rigs were profitable they wouldn't be selling them to you, it's not a charity. Best of luck!

Yes and no. It can be profitable for both as you provide capital upfront that they would have had to wait what ever the contract was to get. This allows faster growth or investment as well as a exact amount of capital for the mining all for the "fee" of the difference between what they raise and what they mine. The investors are taking on the risk of the possibility of not getting the full return however it's possible (and likely if done right) to make a fair profit. But they take on all risk from huge difficulty jumps, legislation making it less profitable, entire company issues such as poor management or hardware failures that they simply can't fix/replace.

All in all yes it's risky and I personally wouldn't invest in it but a reasonable model for the right investor.

[Chris_Sabian]

Risk control
1. Before IPO closes, ASICMiner has the right to buy back at the price of IPO price * 100.5%.

2. During the first 45 days after IPO closes, ASICMiner has the right to buy back at the price of (IPO price - total payouts) * 120%. The notification period is 3 days.

3. If the delay of payment happens, all unpaid payments will be accounted separately on daily basis and increase by 0.02% per day(flat rate based on the initial unpaid payment amount, no compound rate) after three days.

This is very reasonable and fair.  Hopefully it won't come to that.

[mc_lovin]

Exciting to see this new contract! 

Can I ask why ASICMINER doesn't just point all of the power at existing shareholders?  Why launch ANOTHER company?  What benefit does this have to actual ASICMINER shareholders?

[jimmothy]

Exciting to see this new contract! 

Can I ask why ASICMINER doesn't just point all of the power at existing shareholders?  Why launch ANOTHER company?  What benefit does this have to actual ASICMINER shareholders?

They are basically selling 5PH worth of hardware without having to ship it.

Why do you think every other manufacturer has launched their own cloudmining services?

[hashie]

The fee is 1.89*10^(-8) USD per unit per second. It will be substracted from the pre-fee payout rate. The exchange rate is based on bitstamp 24h average.

In other words, $0.00163 per GH per day.

-Sahra

[Korbman]

Can I ask why ASICMINER doesn't just point all of the power at existing shareholders?  Why launch ANOTHER company?  What benefit does this have to actual ASICMINER shareholders?

I had a similar thought earlier as I reminisced of the early ASICMINER days. As a long timer holder of AM1 and AM100 on Havelock, what benefit, specifically, would this new asset bring to us? Especially since we're talking large quantities of ASICMINER-provided mining gear...

3. Guaranteed profit; Compared to others, AMHash1 Fund will pay you dividends based on hashrate equivalent calculation protecting your earnings and shielding you from hardware maintenance cost and risk.

The only way to guarantee profit is to continually cycle out hardware to keep up with energy efficiency and the network difficulty. Are you proposing that this will be done A) free of charge and B) indefinitely?

[chairforce1]

Can I ask why ASICMINER doesn't just point all of the power at existing shareholders?  Why launch ANOTHER company?  What benefit does this have to actual ASICMINER shareholders?

As a long timer holder of AM1 and AM100 on Havelock, what benefit, specifically, would this new asset bring to us?

I believe this is just an efficient way of selling hardware. AM can provide better mining conditions than others can. No shipping is needed, no worrying with sending units back and the mining process would be easier for the buyer.

AM is selling 5PH worth of mining equipment, just like friedcat wanted to, and it is being sold in bulk and immediately.

Who knows how it will turn out.

[teek]

3. Guaranteed profit; Compared to others, AMHash1 Fund will pay you dividends based on hashrate equivalent calculation protecting your earnings and shielding you from hardware maintenance cost and risk.

Wondering this too..  what is "hashrate equivalent calculation"  ??

[Bonam]

Guaranteed profit is a terrible misnomer for what he meant. He meant guaranteed revenue as if each unit's 1 GH/s is running totally smoothly 24/7 with no downtime. Whether you make a profit or not depends on all the factors it always depends on: rate of difficulty increase, bitcoin price, etc. Given historical rates of difficulty increase continuing into the future, you will not make a profit with this investment, but if difficulty increases slow down considerably it is possible to make a small profit.

[amhash]

3. Guaranteed profit; Compared to others, AMHash1 Fund will pay you dividends based on hashrate equivalent calculation protecting your earnings and shielding you from hardware maintenance cost and risk.

Wondering this too..  what is "hashrate equivalent calculation"  ??

If you compare ordering 1TH/S AMHash with 1TH/S miner(s), some difference will be found:
1. ordering 1TH/S AMHash, you only need to pay 1.25BTC firstly and another $1.63/D from profit,
2.ordering 1TH/S hardware you need to prepare PSU and other hardware to deploy miner(s), ,you need to wait days for shipping, all of those are costs.
BTW, the risk can be unstable of electricity,price may be much higher than what we can supply,technique problems, payment delay and unstable hashing in pool,etc.

[amhash]

Can I ask why ASICMINER doesn't just point all of the power at existing shareholders?  Why launch ANOTHER company?  What benefit does this have to actual ASICMINER shareholders?

I had a similar thought earlier as I reminisced of the early ASICMINER days. As a long timer holder of AM1 and AM100 on Havelock, what benefit, specifically, would this new asset bring to us? Especially since we're talking large quantities of ASICMINER-provided mining gear...

3. Guaranteed profit; Compared to others, AMHash1 Fund will pay you dividends based on hashrate equivalent calculation protecting your earnings and shielding you from hardware maintenance cost and risk.

The only way to guarantee profit is to continually cycle out hardware to keep up with energy efficiency and the network difficulty. Are you proposing that this will be done A) free of charge and B) indefinitely?

1. ASICMINER didn't launch another company, AMHash is just a cooperation project with other company.ASICMINER need to do so many things, chips design, miners production and selling... can't spend more energy in marketing and managing AMHash. Cooperation produce more profit that shareholders  can get divs asap.

2.Nothing is free, zero price and 100% profit is just scam to investors or irresponsible for shareholders. AMHash just wanna produce products to protect both of investors' and company's profit by saving cost.

[xhomerx10]

3. Guaranteed profit; Compared to others, AMHash1 Fund will pay you dividends based on hashrate equivalent calculation protecting your earnings and shielding you from hardware maintenance cost and risk.

Wondering this too..  what is "hashrate equivalent calculation"  ??

The "hashrate equivalent calculation" is

25 / (difficulty * 4.295) BTC per unit per second

Rather than paying you a percentage of the farm's take based on the number of shares you own.

[xhomerx10]

The fee is 1.89*10^(-8) USD per unit per second. It will be substracted from the pre-fee payout rate. The exchange rate is based on bitstamp 24h average.

In other words, $0.00163 per GH per day.

-Sahra

  Technically, some of those "other words" you speak of are numbers, some are symbols and others are abbreviations but thanks for doing the math for us.  Some of us really suck at comprehension, especially after night shifts

 Now is that per earth day?  Awww never miner; I already bought my shares