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Author Topic: AMHash1: Cost-Effective Mining Contract  (Read 303994 times)
thevictimofuktyranny
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March 03, 2015, 06:04:12 PM
 #2341

Article on crypto mining blog:

http://cryptomining-blog.com/4463-the-amhash-mining-operation-robbed-of-mining-hardware/#comment-2628

It is a real mess, but AMhash appear to be doing their best for investors Sad
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NotLambchop
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March 03, 2015, 06:07:18 PM
 #2342

Brah, in all the Bitcoin scams, how many Bitcoiners were made whole through intervention by Teh Authorities?
The [alleged] multiple companies involved are probably a bunch of d00ds who've been friends since kindergarten.  Even if not friends & not one single d00d, whoever's involved is dirty enough to not want Teh Authorities involved.  Even if it's something as trivial as tax fraud.

Besides, the "Chinese companies" aren't losing any money.  YOU are the one who is, it's YOUR money that's gone.  AMH simply said "sorry brah, we been robbed Sad "  Presto, problem solved Smiley

  ~Happy Investing!
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March 03, 2015, 06:12:08 PM
 #2343

AMH simply said "sorry brah, we been robbed Sad "  Presto, problem solved Smiley

  ~Happy Investing!
You'd think they have insurance for vandalism/theft.
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March 03, 2015, 06:17:52 PM
 #2344

^
Seriously tho, no one in his right mind gives thousands of dollars to a stranger in the street, expecting to see it back, but Bitcoiners send more than that in BTC to Anons in China, through other Anons in Panama, because... Because Bitcoin!!TM

And then preach to each other how "you don't have BTC unless you exclusively control the private keys," lol.  Yeah, you sure don't.
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March 03, 2015, 06:22:55 PM
 #2345

I do not think it is going to be the investors who lose their investments. After all they do not operate in empty space, they need their credibility to do more business etc. Your reasonig can be simply summarised that Asicminer and Rockminer are stupid greedy idiots and will just leave this as it is. It is not going to be left like this.

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NotLambchop
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March 03, 2015, 06:31:11 PM
 #2346

I do not think it is going to be the investors who lose their investments. After all they do not operate in empty space, they need their credibility to do more business etc. Your reasonig can be simply summarised that Asicminer and Rockminer are stupid greedy idiots and will just leave this as it is. It is not going to be left like this.

No, my reasoning could be simply summarized as "YOU are the stupid greedy idiot, Anon going by friedcat has your money & is farting through silk somewhere."  Possibly Tahiti.
Nothing stupid about that, and I'm certain his IRL reputation is not tied to his bitcointalk forum nick any more than mine is tied to NotLambchop.

l3sny
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March 03, 2015, 06:37:33 PM
 #2347

Hahahaha, sorry I do not talk to people who either have no brain or do not know how to use it. End of conversation.

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.Together we can change
❍ ❍ ❍........the internet........❍ ❍ ❍
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██
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.Social Media.
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March 03, 2015, 06:39:04 PM
 #2348

Allrighty Smiley

  ~Happy Investing!
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March 03, 2015, 06:43:56 PM
 #2349

Message from Friedcat
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March 03, 2015, 06:48:13 PM
 #2350

As it seems that Rock Xie (http://weibo.com/rockxie) has released the following statement on weibo.com...

Google Translate :-

Quote
Too many people ask, what unified response.

At 17:24 on March 3, 2015

AMHash is RockMiner and AsicMiner cooperation projects, RM equivalent of AM's underwriters, the force responsible for the operator to sell, as well as the construction and improvement AMHash platform, responsible for depositing after dividends, to answer customer questions. Because at that time had no money RM production machines, began to take an asset-light line, specialized in sales and service, just roast cat also sell power demand cloud count, so this project started. About AMHash things, the current best solution is still the cat appeared, such as grilled deal with the matter. The company now Dumen AM through legal channels or the like on the basic does not make sense, if effective, we would have done. The key is to find the most grilled cat on dividends up to any aggressive behavior irrational have no significance.

After problems with mine, we do not timely disclosure, there is a reason. AM and mine was still in negotiations, and also mass production machine, grilled cat in Inner Mongolia and Ningxia, said soon deploy a new force calculation, these three points will soon make up more p. That is equivalent to the time it is just a small thing, on which the AM will fill the vacancy losses, dividends, and has no effect, because the dividend is 100PPS, as long as there is money there is no problem points, the public announcement, but also bring some unnecessary trouble.

The dividend was set aside money in our hands, probably only to about January 10, all others have been paid to AM, these are payment records. We never thought that the link between grilled cat suddenly not on, while other companies were AM but no matter what happens, even Williams told me that he did not hand access to the company's purse, wallet in hand roasted cat all have to wait roast cat.

Many people are very anxious, always ask AM is not running, say mine is also dismissed. I want to say is how to run on foot? AMHash for AM it is not a lot of money, we had the budget support to the end of the contract, as long as it is estimated less than 2500btc, who for this foot? He walked the long run, will not wait until now. Did not even have a family? They also reported the matter at home, but also can not contact him, we are now concerned about his personal safety.

AM removed a test mine, in order to save money, after a month, but also tens of thousands of mines spending, and now there is no demand, naturally dismissed.

The key problem is that there is anything specific roast cat go, and I do not know, an estimated 60 percent come from private business, 40% of it is official pressure, specifically to wait for him to come back before we know.

All problems and other baked cat needs arise, because the hands of other people now have no money.

We also communicate with people and AM, including directors abroad, we discuss solutions, please be patient, and so on.

Source: http://weibo.com/p/1001603816360214946715

I have translated this in the best way possible, so that it is more understandable.

Title: Too many people have asked, so here is a general response.

AMHash is a joint project between AsicMiner and RockMiner. Rockminer is the seller for AMHash, so we are responsible to sell the hashrate, and develop the platform, collect the earnings and send out dividends, and resolve customer queries. This is because Rockminer no longer had any ASICS, and and we could only provide technical support and provide reselling services. Coincidentally, friedcat wanted to sell the hashrate, and so we cooperated and we started this project, AMHash. About the current situation of AMHash, the best way to resolve this would be to wait for friedcat to appear and resolve this. Trying to recuperate funds via law enforcement will be of little to no use, since if we could have done anything, we would've. Now, the key is to find friedcat and have him put up the dividends, and any unrealistic/extreme acts will serve no purpose.

We didn't announce that there were problems in the datacentres for a reason. We were still negotiating with the datacentres/mines, and ASICS being mass produced (< not very sure about this part). Friedcat said that there would be more hashrate deployed in Inner Mongolia and in Hening (和宁), so 3.x Petahashes would be deployed and could fix the current problems. This meant that, friedcat said, there would be no problems as the earnings could be covered and the dividends paid out, and releasing the news would just cause unnecessary panic.

Many people were panicking, asking if AsicMiner had run for it, and asking if the mining farms/datacentres had been shut down. How are we going to run for it? AMHash is not a lot of money to AsicMiner, and after our calculations, we only earn around 2500BTC. Who would run for this? If we wanted to run for it, we would've done so a lot earlier, and we wouldn't wait until now. Would we abandon our families? friedcat's family also reported this to the police, but we still can't find him. What we are worried about is his safety.

AsicMiner stopped some test mining farms/datacentres, since they were too costly to continue operating, and so, it is natural to shut them down.

The key point is, what happened to friedcat, even I don't know. My guess would be 60% personal issues, 40% work problems. We would only know when he comes back.

I am still talking to people from AsicMiner, including overseas shareholders. We are looking for a solution, please wait patiently.

Note: Some translations may be incorrect, such as we/I/they, since I did this in a rush and my Chinese isn't perfect, especially if I am reading Simplified Chinese.
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March 03, 2015, 06:53:17 PM
 #2351

^Thank you for the translation.
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March 03, 2015, 07:01:25 PM
 #2352

It does not reply to the basic question: who has the miners?

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.Together we can change
❍ ❍ ❍........the internet........❍ ❍ ❍
██
██
██
██
██
██
██
.Social Media.
▄███████████████████▄
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March 03, 2015, 07:02:46 PM
 #2353

^Thank you for the translation.
This is by far and away your best post ever.

byt411 - This is enormously helpful, thanks.  Hope you can stick around and translate anything else that comes through.  As amusing as Google translations are, they just doesn't cut it.
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March 03, 2015, 07:08:21 PM
 #2354

It does not reply to the basic question: who has the miners?


No one knows, I guess. It seems like they've been stolen by a third party, neither AM nor AMHASH, ROCKMiner or anyone... I don't think hashratio took them, either... Maybe the people running the mining farm.

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March 03, 2015, 07:21:36 PM
 #2355

^Thank you for the translation.
This is by far and away your best post ever.

byt411 - This is enormously helpful, thanks.  Hope you can stick around and translate anything else that comes through.  As amusing as Google translations are, they just doesn't cut it.

Thanks for your appreciation. I just read the google translation and I couldn't, I simply couldn't just stare at that. It simply made my eyes bleed. So I went ahead and I translated it.

It does not reply to the basic question: who has the miners?


Exactly. What happened to the miners? Who has them? Also, even if friedcat vanished, how come he is the only one in control of the funds and the only one who knows what is going on?
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March 03, 2015, 07:31:52 PM
 #2356

amazingly that's pretty much how i had translated the text in my head.
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March 03, 2015, 07:40:26 PM
 #2357

amazingly that's pretty much how i had translated the text in my head.

It is at least clear now that the mention of Mongolia is because of Miner installation, not kidnapping.
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March 03, 2015, 07:42:43 PM
 #2358

And why someone is making public statements instead of asicminer and rockminer...
This all does not add up!

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March 03, 2015, 07:44:12 PM
 #2359

amazingly that's pretty much how i had translated the text in my head.

It is at least clear now that the mention of Mongolia is because of Miner installation, not kidnapping.

Fund from Panama, Miners on the way to Mongolia, Trust vendors from China and many still wonder what went wrong.....

lesson learnt - never trust grilled cat, never trust a cat full stop.
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March 03, 2015, 07:45:55 PM
 #2360

TV liesence or bitcoin soap opera..... the latter costs me more but i seem to enjoy it more..... WTF is wrong with me
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