AMHash1: Cost-Effective Mining Contract

[galdur]

Uh, oh I was thinking maybe test 180 next week but now it seems ready to take the next plunge.

This is all too uncertain and precarious for price bidding. Market sense: Don´t bid above .0007 for the time being, for safety´s sake.

[newIndia]

Here´s what mining experts and bitcoin geniuses were predicting in May 2014. So you can just imagine their investments since then and financial situation now.

https://www.youtube.com/watch?v=VzmzQja7a2M

WoW... thanks for sharing this. I really had a great laugh. I wonder what the people in the vid do if they see this now !!!

[DARKANGEL6415]

Here´s what mining experts and bitcoin geniuses were predicting in May 2014. So you can just imagine their investments since then and financial situation now.

https://www.youtube.com/watch?v=VzmzQja7a2M

WoW... thanks for sharing this. I really had a great laugh. I wonder what the people in the vid do if they see this now !!!

lol i wish it was at $3000 + lik some of those people thought it would be. I would take a mini vacation if that was that case maybe i would eat somewhere fancy lol

[galdur]

Cointelegraph should have had a monkey predict along with these experts and geniuses for comparison now.

[thevictimofuktyranny]

At least we know, new ASIC research and development projects will be cancelled across most manufacturing companies.

Really ? I doubt that testing 216 dollars is enough for that. Maybe if the shorts tried say 180 (30 dollars above the start of funeral arrangements) next that might spur some connections to reality in the mining industry. Check those yokels out again in the youtube clip I posted.

All the manufacturers started cancelling their new Scrypt chips research projects when Litecoin went below $3.5, which was ROI on equipment just under 1 year (now the ROI on KCNminer is more like 2.3 years on scrypt). Bitcoin ($238) on the latest S5 mining chips in now 350 day ROI. You'd expect the research funding decisions to be similar on Sha256 as they were on scrypt.

Also, the really old 1ghs at 1watt mining equipment becomes uneconomic in the USA at $209 for home users.

One of older cloud mining services has shut it's mining down with this older equipment:

http://cryptomining-blog.com/4148-cex-io-temporarily-suspends-cloud-mining-services/


 

[galdur]

At least we know, new ASIC research and development projects will be cancelled across most manufacturing companies.

Really ? I doubt that testing 216 dollars is enough for that. Maybe if the shorts tried say 180 (30 dollars above the start of funeral arrangements) next that might spur some connections to reality in the mining industry. Check those yokels out again in the youtube clip I posted.

All the manufacturers started cancelling their new Scrypt chips research projects when Litecoin went below $3.5, which was ROI on equipment just under 1 year (now the ROI on KCNminer is more like 2.3 years on scrypt). Bitcoin ($238) on the latest S5 mining chips in now 350 day ROI. You'd expect the research funding decisions to be similar on Sha256 as they were on scrypt.


 

All right, sounds good. Maybe that 8% diff increase was the last gasp of the bubble and it will level off or even deflate some in the coming months. At least i hope so.

[Dexter770221]

Dumps all over a Bitcoin world. AMHASH now @ 0.00045. Divs @ <300 satoshi?

[Mabsark]

Looks like AMHash and Bit-x are the only legit cloud mining services left in the game, and bit-x is far more expensive. There KNC Cloud too, but I wouldn't really call that cloud mining, it's more hosted mining.

[ANN] Jan 14th, 2014 - Umisoo, ANTS2, & ANTS3 Hardware Powered Off

Today, at 08:05 GMT, all Hashnest Umisoo, ANTS2, & ANTS3 units were powered off, as their maintenance fee became higher than their payout. This procedure was previously outlined in this post https://forum.bitmain.com/bbs/topics/969. At the moment, we are examining the situation to determine what further action will be taken. We will be doing our best to keep you updated with the latest information. As long as the machines are switched off, there will be no new revenue payments from these machines. Further, we will collect no maintenance fee on the Umisoo, ANTS2, and ANTS3 during this time.

Note: GH/s trading for these units will continue as normal. Users may still buy or sell mining contracts for the Umisoo, ANTS2, and ANTS3 during this time.

[elasticband]

congrats AM you have priced your competitors out of the cloud mining market.

it's interesting just at the right time BTC tanks, rockminer offer a buy back of shares well above what the market price was hovering at, 0.02 and they are offering 0.05, some might think this was planned 

[elasticband]

expect market price to drift around here for the next 10 days

1. How to process the hardware when the maintenance fee equals to the mining earnings?
Will power off S2 when the maintenance fee equals to the mining earnings, and then reserve these hardware for 10 days. If the maintenance fee is back to lower than mining earnings during this reservation period of 10 days, we will power on hardware again. Otherwise, Umisoo market based on S2 will be closed permanently after the reservation period of 10 days.

[Mabsark]

congrats AM you have priced your competitors out of the cloud mining market.

If only it would've happened 6 months earlier...

[elasticband]

After that bitcoin love-fest in Holland

the love fest was in Amsterdam, Noord Holland, The Netherlands, Holland is not the Netherlands. I know you didn't say it was, i just thought i would mention it.....

[elasticband]

on a side note, why does this happen when i choose to goto bed at a normal time for a change instead of staying awake until 4-5am waiting for the madness..... lesson learned, don't sleep.

[ajw7989]

Since IPO was less than 45 days does that mean amhash3 buyers get the 120%- mining buybacknprogram?

[server]

Since IPO was less than 45 days does that mean amhash3 buyers get the 120%- mining buybacknprogram?

I'm afraid one of these rules applies:

Code:

Contract suspend and termination

1. If the calculated payout after fee subtraction is less than or equal to zero, the contract will be suspended.

2. If the number of subsequent days suspended reaches 10, the contract terminates.

[elasticband]

Since IPO was less than 45 days does that mean amhash3 buyers get the 120%- mining buybacknprogram?

I'm afraid one of these rules applies:

Code:

Contract suspend and termination

1. If the calculated payout after fee subtraction is less than or equal to zero, the contract will be suspended.

2. If the number of subsequent days suspended reaches 10, the contract terminates.

what are you two talking about?

[HarmonLi]

Since IPO was less than 45 days does that mean amhash3 buyers get the 120%- mining buybacknprogram?

I'm afraid one of these rules applies:

Code:

Contract suspend and termination

1. If the calculated payout after fee subtraction is less than or equal to zero, the contract will be suspended.

2. If the number of subsequent days suspended reaches 10, the contract terminates.

Holy cow, that's quite a big red flag. That makes me uneasy. I think they should just wait until (if) the BTC price recovers at some point. Just terminating the whole contract seems to be a bit harsh. Maybe they won't make use of that paragraph.

[elasticband]

sorry, who says amhash are stopping and doing a buy back?

[Caesium]

sorry, who says amhash are stopping and doing a buy back?

Nobody - they're not. I think ajw7989 was just (a bit hopefully, perhaps) misinterpreting a buyback right stipulated in the AMHASH T&C.

Why exactly they would choose to execute it now I have no idea, the conditions are exactly the opposite of when they'd use it.

[primeminer]

sorry, who says amhash are stopping and doing a buy back?

and who can confirm any successful withdraw from amhash?

#317   0.065500000   2015-01-10 07:59:05   Confirming      0.000000000

this is stand still for way to long, none of the msgs are responded and tickets are being ignored.....