AMHash1: Cost-Effective Mining Contract

[pumawolf]

I bought 2 TH today when BTC seemed to show some signs of life on decent volume but soon got cold feet and dumped it all. Fortunately there was enough amount on the bid to eke out a profit of 2% or so.

Perhaps scalping some dust out of this mess is possible but anything significant, forget it. Unless by some miracle BTC suddenly snaps out of its longstanding moribound trend and stays that way for several days at least.

However; the stupidity of homo sapiens should never be underestimated. Clearly a new batch of idiots arrives at Havelock every day. Just watch them snap up B.SELL. Maybe if Havelock could be persuaded to display say 500% for AMHASH on their page the price would improve.

hopefully he or she   comes to the  bmine thread and complain about payouts , i want to see who it was ,ahaahha.  havelock should take that bs annual yield  off tho. thats a really fuked up  yield system they got.

[Rizla2345]

If the major mining operators plan to continue this cloud mining business much longer I think they better start buying or at the very least holding part of what they mine instead of constantly dumping it. Constantly cratering price results from constantly strong supply and constantly not strong enough demand to absorb it - obviously. If BTC gets stuck below $200 the continuation is predictable. But of course they don´t really give a shit about their customers. It´s just business.

[Rizla2345]

If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?

[elasticband]

If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?

nope? you bought the GH and the outcome be that profit or loss

[Rizla2345]

If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?

nope? you bought the GH and the outcome be that profit or loss

Now that your colleague promoting AMHASH with your signatures is getting desperate and running  around threatening people promoting AMHASH´s competition do you think you will be blamed and made a scapegoat when and if  AMHASH "runs off with the money"?

Mabsark:

Quote from: picolo on Today at 01:47:57 PM
Apparently only us two members are both paid in GHS to have cloudminr signature below our posts. Yes. Hopefully cloudminr will reopen the signature campaign for everyone, maybe when the price per BTC will recover?

Do you realise that when cloudminr runs off, all those scammed are going to come after you two. If you are not a part of this operation, then you are scape goats. Good luck convincing people of that when cloudminr runs off with the money.

[elasticband]

If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?

nope? you bought the GH and the outcome be that profit or loss

Now that your colleague promoting AMHASH with your signatures is going around threatening people promoting AMHASH´s competition do you think you will be blamed and made a scapegoat when nad if  AMHASH "runs off with the money"?

Mabsark:

Quote from: picolo on Today at 01:47:57 PM
Apparently only us two members are both paid in GHS to have cloudminr signature below our posts. Yes. Hopefully cloudminr will reopen the signature campaign for everyone, maybe when the price per BTC will recover?

Do you realise that when cloudminr runs off, all those scammed are going to come after you two. If you are not a part of this operation, then you are scape goats. Good luck convincing people of that when cloudminr runs off with the money.

AM have the money, people gave them it in a transaction which was an exchange from BTC to GH held by asicminer. It is THEIR company and it's shareholders funds now to do with as they please.

If Amhash has to terminate the contract due to decreasing bitcoin price and increasing difficulty this is nothing they can control and there are conditions set in the contract that explain the outcome of this scenario to it's users, which they agreed to upon when exchanging their BTC for GH controlled by Asicminer.

Also Mabsark is not my colleague, we are both signed up to the same signature campaign along with either 28 or 48 other people.
see i think you are confusing promoting a ponzi scam and promoting a real legitimate company.... comparing apples and oranges only makes you look stupid.

[Rizla2345]

If BTC drops to $135 or wherever this thing stops mining what happens to the customers´funds? Will they be refunded?

nope? you bought the GH and the outcome be that profit or loss

Now that your colleague promoting AMHASH with your signatures is going around threatening people promoting AMHASH´s competition do you think you will be blamed and made a scapegoat when nad if  AMHASH "runs off with the money"?

Mabsark:

Quote from: picolo on Today at 01:47:57 PM
Apparently only us two members are both paid in GHS to have cloudminr signature below our posts. Yes. Hopefully cloudminr will reopen the signature campaign for everyone, maybe when the price per BTC will recover?

Do you realise that when cloudminr runs off, all those scammed are going to come after you two. If you are not a part of this operation, then you are scape goats. Good luck convincing people of that when cloudminr runs off with the money.

AM have the money, people gave them it in a transaction which was an exchange from BTC to GH held by asicminer. It is THEIR company and it's shareholders funds now to do with as they please.

If Amhash has to terminate the contract due to decreasing bitcoin price and increasing difficulty this is nothing they can control and there are conditions set in the contract that explain the outcome of this scenario to it's users, which they agreed to upon when exchanging their BTC for GH controlled by Asicminer.

Also Mabsark is not my colleague, we are both signed up to the same signature campaign along with either 28 or 48 other people.
see i think you are confusing promoting a ponzi scam and promoting a real legitimate company.... comparing apples and oranges only makes you look stupid.

So you know for a fact that this cloudminr company is a ponzi scam, right? I mean otherwise your above statement makes you look rather stupid to use your own terminology.

[elasticband]

touché   I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly   yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalk.org/index.php?topic=860400.0

conclusion, yes they are a ponzi 

[Mabsark]

Also Mabsark is not my colleague, we are both signed up to the same signature campaign along with either 28 or 48 other people.

I'm not actually participating in the signature campaign. I passed on the opportunity so someone else could take the spot. More advertising.

[elasticband]

Also Mabsark is not my colleague, we are both signed up to the same signature campaign along with either 28 or 48 other people.

I'm not actually participating in the signature campaign. I passed on the opportunity so someone else could take the spot. More advertising.

after a year of hating signature campaigns and the spam they produce on the forums i finally thought fuck it. hopefully they get banned soon anyway, might as well make 0.1btc back from the company the investment that has caused my biggest loss to date I still like AM, just don't like my investment strategies  

edit: sweet, that makes you the fall guy, going around needlessly promoting this ponzi with no gain. I am just a paid pawn....... muhahahaha

these king pin karpeles tails are getting to me 

[Rizla2345]

touché   I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly   yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalk.org/index.php?topic=860400.0

conclusion, yes they are a ponzi  

touché   I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly   yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalk.org/index.php?topic=860400.0

conclusion, yes they are a ponzi  

OK, the people running that thread conclude that it´s a scam and therefore you know for a fact that it´s a scam. That´s very interesting since neither you nor they have any real evidence to prove such a conclusion. But of course it´s easy peasy - they´re guilty until proven innocent. And even if they´re legitimate the constant harrassment and hate campaigns by shills on these threads may drive customers from them so their operation isn´t viable anymore. And they go belly up and therefore must be a scam. It´s called a self-fulfilling prophecy, maybe you´ve heard of that.

[elasticband]

no but i have heard that warning people away from ponzi schemes is actually a good thing 

Amhash is a mining contact backed by a legitimate company who actually produce and own microchips for producing bitcoin miners.

what are cloudminr backed by?

[Puppet]

what are cloudminr backed by?

Greed and stupidity.

[thevictimofuktyranny]

touché   I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly   yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalk.org/index.php?topic=860400.0

conclusion, yes they are a ponzi  

touché   I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly   yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalk.org/index.php?topic=860400.0

conclusion, yes they are a ponzi  

OK, the people running that thread conclude that it´s a scam and therefore you know for a fact that it´s a scam. That´s very interesting since neither you nor they have any real evidence to prove such a conclusion. But of course it´s easy peasy - they´re guilty until proven innocent. And even if they´re legitimate the constant harrassment and hate campaigns by shills on these threads may drive customers from them so their operation isn´t viable anymore. And they go belly up and therefore must be a scam. It´s called a self-fulfilling prophecy, maybe you´ve heard of that.

I think you need to do some research into new enterprise success ratios.

Outside of Crypto-currency business, professional funds lending to new business ventures only expect a 1 in 20 ventures they fund to become a profitable success in medium to long term. A small amount of those new ventures are scams, but most are genuine economic failures.

On those statistics, why do you expect new crypto-currency ventures to have a higher success ratio? Saying every crypto venture failure is a "scam" is the same as saying "I'm a moron, who doesn't know anything about macro economics or maths or can do the research".

A lot of these are genuine bankruptcies or venture failures. You need to spread you investments between different mining operations (amhash, genesis mining, etc), different big crypto currencies (BTC, DRK, LTC, FTC, VTC, etc) and new crypto currencies (plenty of these to choose from, LOL).

Gensis mining paid mbtc 4.59 yesterday and AMhash paid 3.18mbc yesterday. Both manufacturers' ASIC farms are in Iceland. Clearly, Gensis has the better mining equipment (they also negotiated a 40% reduction in their electricity price, which was passed onto their customers).

Another manufacturer Zeus mining has put out a warning not to buy its' BTC cloud mining offerings, clearly its' mining equipment is not very good. The manufacturer's scrypt cloud mining (10,000 people) customers recently lost their contracts under the 10 day unprofitably rule when LTC plunged in price. That was a genuine business failure, it was not a scam. People in this forum keep calling everything a "scam" or a "ponzi scheme", because they lost money on a investment, but this is what happens as a norm in real economies with relation to new economic ventures.

[Rizla2345]

touché   I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly   yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalk.org/index.php?topic=860400.0

conclusion, yes they are a ponzi  

touché   I know sweet fuck all about cloudminr, the only thing i do know is they cannot spell miner correctly   yes i just presume they are a ponzi scam and no that is not the same as comparing apples and oranges, it just makes me a bit lazy and ignorant to go research if they are a ponzi scam or not, are they a ponzi scam?

edit: fuck it, you made me actually take 1 minute out of my day to research this crap. first port of call, cloudmining 101 thread- https://bitcointalk.org/index.php?topic=860400.0

conclusion, yes they are a ponzi  

OK, the people running that thread conclude that it´s a scam and therefore you know for a fact that it´s a scam. That´s very interesting since neither you nor they have any real evidence to prove such a conclusion. But of course it´s easy peasy - they´re guilty until proven innocent. And even if they´re legitimate the constant harrassment and hate campaigns by shills on these threads may drive customers from them so their operation isn´t viable anymore. And they go belly up and therefore must be a scam. It´s called a self-fulfilling prophecy, maybe you´ve heard of that.

I think you need to do some research new enterprise success ratios.

Outside of Crypto-currency business, professional funds lending to new business ventures only expect a 1 in 20 ventures funded to become a profitable success in medium to long term. A small amount of those new venture are scams, but most are genuine failures.

On those statistics, why do you expect new crypto-currency ventures to have a higher success ratio? Saying every crypto venture failure is a "scam" is the same as saying "I'm a moron, who doesn't know anything about macro economics or maths or can do the research".

A lot of these are genuine bankruptcies or venture failures. You need to spread you investments between different mining operations (amhash, genesis mining, etc), different big crypto currencies (BTC, DRK, LTC, FTC, VTC, etc) and new crypto currencies (plenty of these to choose from, LOL).

Gensis mining paid mbtc 4.59 yesterday and AMhash paid 3.18mbc yesterday. Both manufacturers' ASIC farms are in Iceland. Clearly, Gensis has the better mining equipment (they also negotiated a 40% reduction in their electricity price, which was passed onto their customers).

Another manufacturer Zeus mining has put out a warning not to buy its' BTC cloud mining offerings, clearly its' mining equipment is not very good. The manufacturer's scrypt cloud mining (10,000 people) customers recently lost their contracts under the 10 day unprofitably rule when LTC plunged in price. That was a genuine business failure, it was not a scam. People in this forum keep calling everything a "scam", because they lost money on a investment, but this is what happen as a normal and real economies with relation to new economic ventures.

This person seems to agree that even legitimate companies can be driven out of business by a systematic campaign of hate,slander and fearmongering. If enough customers can be driven from them so they can´t stay in business, well then the objective of the hatemongers has been met and they can conclude that is was a scam after all. Never mind that nothing at all will be determined in any court of law.

[Mabsark]

This person seems to agree that even legitimate companies can be driven out of business by a systematic campaign of hate and fearmongering. If enough customers can be driven from them so they can´t stay in business, well then the objective of the hatemongers has been met and they can conclude that is was a scam after all. Never mind that nothing at all will be determined in any court of law.

There would be no "systematic campaign of hate and fearmongering" if those "legitimate companies" provided proof of legitimacy instead of acting exactly like other "legitimate companies" that have already ran away with peoples money. If those "legitimate companies" fail because of that then they only have themselves to blame for acting like "legitimate companies" instead of acting like actual legitimate companies.

[MichaelBliss]

This person seems to agree that even legitimate companies can be driven out of business by a systematic campaign of hate and fearmongering. If enough customers can be driven from them so they can´t stay in business, well then the objective of the hatemongers has been met and they can conclude that is was a scam after all. Never mind that nothing at all will be determined in any court of law.

There would be no "systematic campaign of hate and fearmongering" if those "legitimate companies" provided proof of legitimacy instead of acting exactly like other "legitimate companies" that have already ran away with peoples money. If those "legitimate companies" fail because of that then they only have themselves to blame for acting like "legitimate companies" instead of acting like actual legitimate companies.

So how many cloudmining outfits are left standing at this point?   I don't think it's fair to blame their failure on some non-existent "systemic campaign of hate and fearmongering".  Why add "systemic" to that sentence anyway?  It moves you away from ranting about something that actually happened, towards some crazy conspiracy theory.   I don't think a couple people trolling should be cause enough to go out of business for a legit company anyway.   They could have also just succeeded and proved the trolls wrong...if they were wrong.

[Rizla2345]

I sure hope you two screwballs never be called up for jury duty 

Or most likely you live in a country that has a very primitive judicial system. This explains your reprehensible views. Shoot first, maybe ask questions later. Works every time.

[Rizla2345]

At this point it would be helpful for the stakeholders here if the company issued a formal statement regarding at which BTC price they anticipate ceasing this cloud mining service. I doubt that many have read the TOS. And for those who have, a reiteration would probably be good and useful. Some peter paul and marys here (carrying the company´s sign) have been claiming that this cessation will occur at $135 and if that is correct it should be confirmed.

[elasticband]

At this point it would be helpful for the stakeholders here if the company issued a formal statement regarding at which BTC price they anticipate ceasing this cloud mining service. I doubt that many have read the TOS. And for those who have, a reiteration would probably be good and useful. Some peter paul and marys here (carrying the company´s sign) have been claiming that this cessation will occur at $135 and if that is correct it should be confirmed.

simple mathematics could should have confirmed that for anyone before they invested into this......