AMHash1: Cost-Effective Mining Contract

[BtcLtcNmc]

Someone reported that he knew where FC is and that he is alright.

Why would that guy kidnap him, do they have some issues?

And would that guy not fear the Chinese government,
which is pretty harsh against criminals.
Kidnapping is not a light crime.


I think you should remove that donation address from your messages.
I looks greedy and inappropriate.

Since Rockxie claimed that FC said all the miners are robbed,

update

The 3.546PH AMHash's hashrates have disappeared since 25th Dec 2014. We found this problem two days later,we asked friedcat,he said it was mining farm's maintenance issues,hashrates would come back soon.But one week later,hashrates didn't come back yet.When we asked FC again, we were told that all mining devices were robbed by the partner of the mining farm.And all hashrates were out of control.
After then, FC told us that hashrates from new mining farms will be deployed, but we didn't know the amount at that time.Right now, we still don't receive any update from those new hashrates.

AMHash Team

and there is a rumour that the guy who reported that he knew where FC is and that he is alright, is the "partner of the mining farm" who robbed all mining devices!
That's why I have such guess.
All the criminals don't fear the government or they won't do the crimes.

[1713583028]

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[1713583028]

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[1713583028]

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[flame1012]

Is there any clue why such person, a partner in business would steal the miners.
There should be a serious conflict between them.

Might the partner be someone illegal entity like a mobster?

Do you know if FC or the company owed any debts to him.

[BtcLtcNmc]

Is there any clue why such person, a partner in business would steal the miners.
There should be a serious conflict between them.

Might the partner be someone illegal entity like a mobster?

Do you know if FC or the company owed any debts to him.

That's what FC told Rockxie.
I don't know at all.

[flame1012]

Do you know if the Chinese police is informed about the robbing and disappearing of FC.

Has Rock Xie any say in this, can he help us to solve the problem.

[Silverspoon]

Is there any clue why such person, a partner in business would steal the miners.
There should be a serious conflict between them.

Might the partner be someone illegal entity like a mobster?
...

[byt411]

It seems as though a significant amount of people want the translations to the emails between Rock Xie and Friedcat. (88%). I will do the translations later, or maybe tomorrow.

[flame1012]

It seems as though a significant amount of people want the translations to the emails between Rock Xie and Friedcat. (88%). I will do the translations later, or maybe tomorrow.

Thank you very much.

[muyuu]

wow this sale went so much faster than amhash2 i wonder why same price pretty much same terms but amhash3 is just flying off the shelves at super fast rate its crazy BUT good  

I see two explanations: collapse of pbmining has finally opened some eyes to the fact that there are more important criteria than apparent profitability (ie scams usually arent profitable). And secondly, the 2, possibly 3 subsequent drops in difficulty.

That latter argument may be short lived though, if paycoin hashrate returns to the bitcoin network and next gen miners hit the network over the coming weeks or months.

In my specific case, point #1, and again, thanks to your work, it really made me realize how this should work.

I did a thorough job this time, made some experiments over the days, with hashnest, knc cloud, etc. and from my experimental data, AMhash3 was the better option, not by far, but enough.

Wow man.

BTW why is your trust rating so low??

[JasherEnoch]

Someone reported that he knew where FC is and that he is alright.

Why would that guy kidnap him, do they have some issues?

And would that guy not fear the Chinese government,
which is pretty harsh against criminals.
Kidnapping is not a light crime.


I think you should remove that donation address from your messages.
I looks greedy and inappropriate.

I think you should remove that donation address from your messages.
I looks greedy and inappropriate.

Oh yes I agree I am getting annoyed by seeing so many donation requests. I mean come on we are all out enough with AMHash now people are wanting donations.

[primeminer]

If any of the nicks here has been asked on the street, at work, or school how much a human life is worth of. Most of you would say that money can not denominate persons life.

If you ask this question here asking about Fried Cat's life most of the people would say some number of gigahashes....

[flame1012]

If any of the nicks here has been asked on the street, at work, or school how much a human life is worth of. Most of you would say that money can not denominate persons life.

If you ask this question here asking about Fried Cat's life most of the people would say some number of gigahashes....

That's not true, I and I believe most of us value human life as much as you do.

At the other hand no one among us, knows exactly whats going on and if these claims are true.

What we know and what is self evident is that the companies Amhash, Asicminer, Rockminer & Havelock stopped communicating, and stopped paying dividends.

Your claim doesn't change the fact that the investors of Amhash has become a victim of whatever is happening, neither does it justify what happened to them.

[byt411]

https://www.bikeji.com/t/1228

Emails:

Email 1:

Hey Rock Xie,
The attachment is a draft.
There are some things that can be changed:
1. What is the total hashrate we will sell? 1PH/s-2PH/s is fine.
2. The data for the other parties needs to be updated. (< Unsure)
3. Any other questions that you guys need to ask, or that havelock needs to ask.

The price for us is 1.6BTC/Ths, and the extra 0.2/Ths is the difference.

Email 2:

Hey Rock Xie,
The changes have been made to the attachment. Please check if there are errors or contradictions. Thanks!

Email 3:

Hey Rock Xie,
After our internal meeting, we have come to the conclusion that our cooperation (RockMiner and AsicMiner) is very beneficial for the both of us. The cooperation of selling and cooperation of employees is the most tight form of cooperation, but it needs to be good. (Unsure of the previous sentence) We believe that if we commence this cooperation as soon as possible, it will the best, because we can keep the passion. We will do this in steps, so that we tighten our cooperation step by step, making sure that every step won't affect either of us gravely. (Still unsure about this sentence)

Cooperation 1 - Selling of hashrate

RockMiner is in charge of selling AMHash1. The price on launch will be 0.00125 BTC, (starting price) + 10rmb (daily maintenance fee). RockMiner will earn 10% as the selling commission, and 10% as maintenance commission. The commission will be calculated on a monthly basis.

Cooperation 2 - Employee Cooperation

AsicMiner invites RockMiner employees to contribute in the research and development and management of AsicMiner. AsicMiner will pay all wages, bonuses, and extras. If AsicMiner has any intention of paying extra bonuses, AsicMiner will negotiate with RockMiner beforehand, or it will be paid by RockMiner.
Note in red: We had quite a few projects with AsicMiner back then. Other leaders of AsicMiner were asking why Rockminer was getting 10% commission, saying that it was unreasonable, but we did not decide on this randomly, it was friedcat's decision. The truth is that, selling 1 share of hashpower was already 5-10% of profit, and RockMiner as the seller of the hashpower, did not have a simple job. It wasn't simply to sell the hashpower, it included reselling, communication with third parties, develop a trading platform ourselves, promote the brand, and many different types of customer support and PR work, even though the AMHash brand belonged to AsicMiner. That's why the 10% is fair to us, and the planned deployment was only 1PH/s, so there wasn't much profit for us.

Email 4:

1. Our BTCGUILD Pool address is 1HtUGfbDcMzTeHWx2Dbgnhc6kYnj1Hp21i. ghash.io Pool address is 1ERszMSERwHNR9Xty73KZXpsg1jjBXWcHh (AMHash side) and 1K7AuMJwVfZg3UVjinnjT2HzG4pJvACat6 (pool side)
ghash.io account is xxxxxx, password is xxxxxx, this account can only view stats, because AsicMiner controls the email, so ghash message cannot be changed. (<IDK).
Instant stats can be retrieved from ghash.io and BTCGUILD (67117).

2. Dividends start from the 1st of November, please give me the address.

3. In tomorrow's meeting, please remind us that we need PR people. The best would be tech press or Bitcoin Company diplomat people. (<)

4. The changing of hands of the datacentres/mines has stabilized, the remaining problem is the price.

Email 5:

Hi,

1. The address can be published.
2. Use the API, publishing the account will make it get stuck. (<)
3. I thought we changed it to 4th November, I want to make it earlier, but never mind, let's split it directly. Give me an address.
4. Requirements are in the attachment.

--Original--
From: Rock Xie
To: Friedcat

1. We can publish the paying addresses, right?
2. Can we publish the ghash account, or do we make it displayed by API seperately?
3. In the IPO we wrote that the first dividends would be at 00:00 on the 31st, which is 8AM beijing time. It's not a good idea to change it now, is it?
4. About the details of employing, we need to discuss the details. What requirements are needed, what the pay will be, let me make a job listing.
5. I will tell my coworkers to make a list for the mine (like construction fees, rent, deposit, deposit for electricity, etc.) as a reference, and we will calculate the exact amount later.

Email 6:

Receiving Address: 1FhdXWuBEwuDtcQovpiu7NPgP3AoDEpYre
Receiving Amount: 480 BTC
The remaining 20 or so BTC will be left in the system just in case.

Note in red: This is an accounting email that friedcat required from us.

Email 7:

Please provide or confirm the following payment methods:

1. Havelock hashpower dividends topup address.
2. Bank Account for maintenance fees.
3. iehash hashpower dividends topup address.

Also, can we negotiate with iehash, to put the price down to 1.1mBTC/Ghs, and keep it so that the price will not reduce by more than 30% of the dividends of the previous day? (< This took me 10 min to figure out.)

cat

Email 8:
1. When is the christmas holiday, from what day to what day? How to we compensate the last ones that buy hashpower? (something i dont understand)?
2. Does hashie have any opinions?
3. Extra compensation should be available for everyone, but the estimate of 200rmb/THs is too high, it should be 200rmb/machine, which is around 145rmb/THs.

---Original---
From: Rock Xie
To: Friedcat

3rd phase AMHash plan

1. Stop current selling of hashpower.
2. Publish 3rd phase plan on Bitcointalk, Havelock and hashie. Announce the christmas promotion.
3. During the promotion, lower hashpower price by 5%, maintenance fee by 5%, so price will be 1.2BTC*0.95/T=1.14 Maintenance fee will be 1.633*0.95USD/TH=1.551USD/THs/DAY

Target the direct purchase to bulk buyers.

100TH/s will get another 1% discount, so price will comparatively be 1.1286 BTC
200TH/s will get another 2% discount, so price will comparatively be 1.1172 BTC
300TH/s will get another 3% discount, so price will comparatively be 1.1058 BTC

Email 9:

Please leave around 5-10 days worth of dividends at hashie, and then subtract the rest and send it to:

1x8ggMHEhGxSe95WWE4YvyLu27M8Pcnrb

Email 10:

Hi Alex,

The address is 1x8ggMHEhGxSe95WWE4YvyLu27M8Pcnrb.

cat

---Original---
From:
To: Friedcat

Hi Cat,

Received. The attachment is the total sales by HASHIE, a total of 314.92731 TH, please see the attachment for details.
We withdrew 50 BTC from hashie to Havelock to AMHash1's address as dividends (I think Rock Xie explained this to you?)
This means that the total BTC we need to give you is:
274.8636374

Also, please give me the address

Alex

Guys, sorry, but I am really tired. I've spent like an hour and a half translating this, and I really am exhausted. I will finish off the translations probably on Wednesday, since I don't think I will have time tomorrow. Sorry for some inaccuracies in the translations, but it should give you guys a general idea of what this is about. Also, addresses might be copied incorrectly, since I didn't bother to double-check them.

Tips really are appreciated.
1Cb2JZxh2R8UxLCuQofdNFm4qnSkga2YyU

[flame1012]

Thank you very much byt411.
It definitely gives us some insight.


From what I've learned so far.
As expressed in the emails, the robbing the mining equipment and the kidnapping of FC clams.

I'm going to make a wild guess here.
Some board members of Asicminer were annoyed by the share Rockminer got from the deal.
The Sudden drop of the BTC price to ~$320 those days probably created a panick,
and enstrengthened the hand of the annoyed board members.

And they decided to kill the project.

FC was the good connection between Rockminer and Asicminer.
He disappeared somehow and Rockminer had a hard time dealing with them.

[TheRama]

Missed some stuff I guess.  Just wanted to confirm.  This stock is dead and we're all out the Bits, right?

[flame1012]

Missed some stuff I guess.  Just wanted to confirm.  This stock is dead and we're all out the Bits, right?

Yeah. Unless a miracle happens.

[TheRama]

Missed some stuff I guess.  Just wanted to confirm.  This stock is dead and we're all out the Bits, right?

Yeah.

Oh well.  At least I got all these dividends.  Cheers all!

[l3sny]

Thank you very much byt411.
It definitely gives us some insight.


From what I've learned so far.
As expressed in the emails, the robbing the mining equipment and the kidnapping of FC clams.

I'm going to make a wild guess here.
Some board members of Asicminer were annoyed by the share Rockminer got from the deal.
The Sudden drop of the BTC price to ~$320 those days probably created a panick,
and enstrengthened the hand of the annoyed board members.

And they decided to kill the project.

FC was the good connection between Rockminer and Asicminer.
He disappeared somehow and Rockminer had a hard time dealing with them.

Many thanks byt411 for the translation, you did awesome job.
I see nothing about stolen miners at all.
THe e-mails prove beyond any reasonable doubt that Asicminer is deeply involved with Amhash. I cannot accept that they are not willing to settle their customers claims. Basically I cannot understand why Asicminers management is keeping low profile for such a long time. It will only casue more damage if we go the  legal path...

[MrTeal]

Many thanks byt411 for the translation, you did awesome job.
I see nothing about stolen miners at all.
THe e-mails prove beyond any reasonable doubt that Asicminer is deeply involved with Amhash. I cannot accept that they are not willing to settle their customers claims. Basically I cannot understand why Asicminers management is keeping low profile for such a long time. It will only casue more damage if we go the  legal path...

There never was a doubt that Asicminer is deeply involved with AMHash. Friedcat is the one that posted this thread announcing AMHash and said in the first post that the hashing power was provided by Asicminer. The issue is if friedcat holds all the private keys (which could be possible) and if so where the hell is friedcat?

Unfortunately, this is BTC. Succession planning isn't something that often comes up nearly as often as it should, and if FC does hold all the keys and he's just gone, there might be no solution to this. If Asicminer absconded with all the hardware and coin, I would be shocked if Rockminer or Havelock had anywhere near the coin to cover the losses even if they were so inclined.

[Roquene]

It will only casue more damage if we go the  legal path...

legal path? how should that work?
Is there any real name or an address?

Or you just want to sue "this ASIC guy from china"?


I keep my fingers crossed.

[l3sny]

Sorry guys but you are a bit ignorant about legal options available in this case. The company advertised as reliable and trustworthy and now there are a few thousands of their customers left with their claims. This is a very serious situation especially in China. I do not think we will have a problem with finding a reliable law firm who would represent the investors and chase the two companies and their directors. One is missing but there is at least one surviving director of Asicminer and Rockminer (and Amhash). We do not care that FC is missing and will never be found, the company is not communicating with its clients, something that has not happened before. It looks like a fraud and run. So we just want to be sure is it fraud or what...