AMHash1: Cost-Effective Mining Contract

[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.

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

BTC is down 35% over the last 30 days and another 35% takes us down to that supposed cutoff point (according to statements made by those anonymous people carrying the company sign). A formal statement would remove uncertainty and make for much more efficient trading of the stakes. Needless to say; this being such a big dog in the BTC marketplace

it would be very, very useful for those trading BTC itself.

[tsm13]

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.

Just to clarify, when the next difficulty changes the $136 will change as well. I think it would hard for amhash to say yes this is the cut off and keep updating it. Its so easy to work out, you can do it yourself when ever you want.

[Rizla2345]

Must be a huge relief for AMHASH stakeholders that they´re going to supposedly last 35% more down than these guys

Dear ZeusHash customers,

As Bitcoin price witnessed significant and continuous dropping lately, the daily payouts of GHS will not be able to cover maintenance fees (now at $0.0023 per GHS per day) very soon. As you can see the payouts today have already been eaten up by 98%+ of maintenance fees.

According to our Terms, “in case the daily mining return is lower than the maintenance fee for at least 10 days in a row”, we’ll have to cease the operation of our mining farms and freeze all GHS contracts, which is a forced measure when there’s no mining profitability.

We’d like to warn you not to purchase more GHS as it’s not the best time for investment. And we are working on different plans for your profits when the conditions for freezing GHS contracts are met. The final solution will be released then.

As a dedicated cloud mining platform, ZeusHash will continue its efforts to seek for better solutions to deliver more cost-efficient cloud mining contracts. Negotiations with our partners are going on smoothly and it won’t be long before the new contracts are available.

[stompysteve]

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.

Just to clarify, when the next difficulty changes the $136 will change as well. I think it would hard for amhash to say yes this is the cut off and keep updating it. Its so easy to work out, you can do it yourself when ever you want.

they would have to update every diff change

[jawitech]

Dear ZeusHash customers,

As Bitcoin price witnessed significant and continuous dropping lately, the daily payouts of GHS will not be able to cover maintenance fees (now at $0.0023 per GHS per day) very soon. As you can see the payouts today have already been eaten up by 98%+ of maintenance fees.

According to our Terms, “in case the daily mining return is lower than the maintenance fee for at least 10 days in a row”, we’ll have to cease the operation of our mining farms and freeze all GHS contracts, which is a forced measure when there’s no mining profitability.

We’d like to warn you not to purchase more GHS as it’s not the best time for investment. And we are working on different plans for your profits when the conditions for freezing GHS contracts are met. The final solution will be released then.

As a dedicated cloud mining platform, ZeusHash will continue its efforts to seek for better solutions to deliver more cost-efficient cloud mining contracts. Negotiations with our partners are going on smoothly and it won’t be long before the new contracts are available.

Even if every other cloud mining company would have to do the same (more or less), as a customer of Zeus I would feel double-f*cked.

At first they cancelled the production of scrypt gen3 asics and converted the company into a cloud mining service, offering to convert pre-orders to scrypt cloud shares. After the LTC crash, they cancelled the contracts so customers instead of having a device in-hand, got nothing (except a free 5 GH/s SHA256 share). Then they offered those customers, who lost a lot of money, better to buy SHA256 mining shares as they are way more profitable. And now the same appears again.

[Rizla2345]

Dear ZeusHash customers,

As Bitcoin price witnessed significant and continuous dropping lately, the daily payouts of GHS will not be able to cover maintenance fees (now at $0.0023 per GHS per day) very soon. As you can see the payouts today have already been eaten up by 98%+ of maintenance fees.

According to our Terms, “in case the daily mining return is lower than the maintenance fee for at least 10 days in a row”, we’ll have to cease the operation of our mining farms and freeze all GHS contracts, which is a forced measure when there’s no mining profitability.

We’d like to warn you not to purchase more GHS as it’s not the best time for investment. And we are working on different plans for your profits when the conditions for freezing GHS contracts are met. The final solution will be released then.

As a dedicated cloud mining platform, ZeusHash will continue its efforts to seek for better solutions to deliver more cost-efficient cloud mining contracts. Negotiations with our partners are going on smoothly and it won’t be long before the new contracts are available.

Even if every other cloud mining company would have to do the same (more or less), as a customer of Zeus I would feel double-f*cked.

At first they cancelled the production of scrypt gen3 asics and converted the company into a cloud mining service, offering to convert pre-orders to scrypt cloud shares. After the LTC crash, they cancelled the contracts so customers instead of having a device in-hand, got nothing (except a free 5 GH/s SHA256 share). Then they offered those customers, who lost a lot of money, better to buy SHA256 mining shares as they are way more profitable. And now the same appears again.

But they´re "legitimate" right? Not a ponzi, according to self-appointed vigilantes around here? Just scamming their customers "legally". That makes losing money with them so much more bearable.

[jawitech]

Not a ponzi
scamming their customers "legally"

I think that's a good summary

[xhomerx10]

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.

 I doubt that many in here know what "Peter, Paul and Marys" are and reiteration isn't gonna help them either.

 AMHash will terminate the contract when:

bitcoin difficulty divided by the bitcoin value(in USD)  is less than or equal to 324251573.3670911659816247582205 for a period of 10 days.

[xhomerx10]

Not a ponzi
scamming their customers "legally"

I think that's a good summary

  AMHash has clearly laid out the terms in the first post so you know exactly what you are buying.  There is no scam to be found here.  Move along.
 

[jawitech]

Not a ponzi
scamming their customers "legally"

I think that's a good summary

  AMHash has clearly laid out the terms in the first post so you know exactly what you are buying.  There is no scam to be found here.  Move along.
 

Dude, learn reading. We were talking about Zeus, not AMHash

[DARKANGEL6415]

Well in my books this still doesn't make too much sense, but whatever I'm sure they did the math right. What I still find highly interesting is that they're able to mine at current BTC prices and difficulty for a profit - with power-wasting gen 3 hardware(!!!) I can only imagine what they'll be able to do with gen 4!!!

who knows if we think gen 4 is magical i can only imagine what the gen 5 will do that will be some serious sweet deals, well sweat deals is referring to the maintanance fees. I am sure the cost to buy them up wont be so magical i am sure will be on the rough side as people get profit upfront in many ocasions

[jdany]

Cold fusion.   Boom.

[xhomerx10]

Not a ponzi
scamming their customers "legally"

I think that's a good summary

  AMHash has clearly laid out the terms in the first post so you know exactly what you are buying.  There is no scam to be found here.  Move along.
 

Dude, learn reading. We were talking about Zeus, not AMHash

 Apparently I gave you more credit for intelligence than you deserve.
This thread is for discussions of AMHash.  Move along!

[jawitech]

Apparently I gave you more credit for intelligence than you deserve.
This thread is for discussions of AMHash.  Move along!

Apparently you wasted time in school as you're not able to read. Don't like my posts? Use this nice link "ignore" or STFU, idiot!

[xhomerx10]

Apparently I gave you more credit for intelligence than you deserve.
This thread is for discussions of AMHash.  Move along!

Apparently you wasted time in school as you're not able to read. Don't like my posts? Use this nice link "ignore" or STFU, idiot!

 This thread is for discussions about AMHash.  Hurl your insults in a PM.

[thevictimofuktyranny]

Anyone, who is cashing out their BTC into Fiat Currency in the UK, remember not to sell through an exchange.

Currently, you can get an extra 7.6% per Bitcoin on the escrow services in the UK:
https://localbitcoins.com/

Every bit helps?

[Rizla2345]

30% more down and that supposed cutoff point will be reached. The way BTC keeps tanking, perhaps next week.

[michinzx]

already sold off everything i had at AMHash on havelock, didnt lose too much. Done with trying out cloud mining

[jawitech]

already sold off everything i had at AMHash on havelock, didnt lose too much. Done with trying out cloud mining

At what rate did you sell? Yeah, currently cloud mining seems to be no option. 2nd day with 0 profit at Umisoo, at least some profit with AHMash shares.

[DARKANGEL6415]

already sold off everything i had at AMHash on havelock, didnt lose too much. Done with trying out cloud mining

i am still holding 800 amhash1 shares not much so figured i will just leave it there since i bought in at 11 - 125 so i am already at loss only thing i can do now is hope for uptick on bitcoin price. Hope it happens sometime soon cause this is really sad what the dividend payments ore for amhash shares