AMHash1: Cost-Effective Mining Contract

[Kipsy89]

The board is supposed to put out a statement shortly; dont confuse that with the company, the board essentially consists of large shareholders, though they may have information we dont.

Yeah, well... The board is effectively the only thing we have right now... We really need to know what AM's options are now, given that they most likely don't have access to FC's funds...

[flame1012]

The board is supposed to put out a statement shortly; dont confuse that with the company, the board essentially consists of large shareholders, though they may have information we dont.

Yeah, well... The board is effectively the only thing we have right now... We really need to know what AM's options are now, given that they most likely don't have access to FC's funds...

Check this:
https://bitcointalk.org/index.php?topic=99497.msg10732792#msg10732792

[Kipsy89]

The board is supposed to put out a statement shortly; dont confuse that with the company, the board essentially consists of large shareholders, though they may have information we dont.

Yeah, well... The board is effectively the only thing we have right now... We really need to know what AM's options are now, given that they most likely don't have access to FC's funds...

Check this:
https://bitcointalk.org/index.php?topic=99497.msg10732792#msg10732792

Yeah coins are moving, but that doesn't mean jack. It could be that someone forced FC to give away the private keys or initiate a transfer of his BTC, using the $5 method...

[l3sny]

The board is supposed to put out a statement shortly; dont confuse that with the company, the board essentially consists of large shareholders, though they may have information we dont.

The board can make statements ONLY on behalf of the company and acts as its representative. Therefore anything they say refers to the company. The board IS the company.

[Blazed]

The board is supposed to put out a statement shortly; dont confuse that with the company, the board essentially consists of large shareholders, though they may have information we dont.

The board can make statements ONLY on behalf of the company and acts as its representative. Therefore anything they say refers to the company. The board IS the company.

The board has no control over anything though. Obviously AM is a 1 man show...might as well be renamed into FriedCat Miner.

[Silverspoon]

... The board IS the company.

Yeah, it's all there in the company charter, on pastebin.
Good morning, fellow moguls of finance & captains of industry!

[Puppet]

The board IS the company.

Again you show an utter lack of knowledge. AM's board isnt structured like traditional companies. The board isnt elected or appointed, and it has no authority whatsoever. Its just a fancy name for anyone owning over 5000 shares in AM (not even in Bitfountain which owns most of AM).  You could have least read the first two posts of the AM thread and figured this out:

Q: The privileges of board members are vague. What exactly could they do?
A: Some of the information and details of our company is only provided on
request of board members. Board members can monitor our business running face to face, or send
representations to do it. We also hope that board members could help us with a full-fledged
open financial management on both the RMB-nominated and BTC-nominated funds.

https://bitcointalk.org/index.php?topic=99497.msg1088045#msg1088045

[HarmonLi]

The board IS the company.

Again you show an utter lack of knowledge. AM's board isnt structured like traditional companies. The board isnt elected or appointed, and it has no authority whatsoever. Its just a fancy name for anyone owning over 5000 shares in AM (not even in Bitfountain which owns most of AM).  You could have least read the first two posts of the AM thread and figured this out:

Q: The privileges of board members are vague. What exactly could they do?
A: Some of the information and details of our company is only provided on
request of board members. Board members can monitor our business running face to face, or send
representations to do it. We also hope that board members could help us with a full-fledged
open financial management on both the RMB-nominated and BTC-nominated funds.

https://bitcointalk.org/index.php?topic=99497.msg1088045#msg1088045

Yeah the board most likely won't have any saying at all, unless the remainder of AM decides to let them take the wheel or decide about options. I wonder who exactly remains on AM's bridge as of now... That David guy? Rock Xie???

[Silverspoon]

...
Again you show an utter lack of knowledge...

Wouldn't go that far.  Brother sells "silver-backed hashes."  That alone shows me he has an insightful & nuanced understanding of the Bitcoin community.

[primeminer]

The board has no control over anything though. Obviously AM is a 1 man show...might as well be renamed into FriedCat Miner.

prove it! Gosh if you think you know something but only one source of the info is your best educated guess or wishful thinking, just keep this goody for yourself, unless you have some backing for your statement....

[KarmaShark]

There is an on-going thread with an active discussion on one of the chinese social networking sites. I cannot translate well so the bits and pieces I can parse through insinuates they are trying to and may have found Fried Cat:




http://8btc.com/thread-14566-10-1.html

[HarmonLi]

There is an on-going thread with an active discussion on one of the chinese social networking sites. I cannot translate well so the bits and pieces I can parse through insinuates they are trying to and may have found Fried Cat:




http://8btc.com/thread-14566-10-1.html

Interesting! We really need someone to translate this. Can you drop some more bits, maybe? And what do you mean by 'maybe have found FC?' Like did they rescue him... Do they know the place where he is kept(!)?

edit: People there say 'not only not found, but more and more doubts'!?!?!?!?!

[KarmaShark]

There is an on-going thread with an active discussion on one of the chinese social networking sites. I cannot translate well so the bits and pieces I can parse through insinuates they are trying to and may have found Fried Cat:




http://8btc.com/thread-14566-10-1.html

Interesting! We really need someone to translate this. Can you drop some more bits, maybe? And what do you mean by 'maybe have found FC?' Like did they rescue him... Do they know the place where he is kept(!)?

I know a very small bit of mandarin from working at BlackBerry, the rest I have tried to piece together myself with translators. Best I can tell there is speculation on that thread that they may have found the location of the stolen miners and / or Fried Cat. It could be a complete guess as well, who knows how much more information is available over there currently?

The boilerplate rumor of the police involved due to stolen electricity and internal company conflict are mentioned there as well. Once someone with much more skill than I possess in this realm shows up they can dissect that conversation and see if it offers any hope. In the end we are now waiting for the board of directors no matter what is revealed in that conversation above.

[AirWolf]

There is an on-going thread with an active discussion on one of the chinese social networking sites. I cannot translate well so the bits and pieces I can parse through insinuates they are trying to and may have found Fried Cat:

http://8btc.com/thread-14566-10-1.html

It looks like FC ran away because they were stealing electricity and if this is true, the police is already chasing FC and whether they caught it or not, we are going to get nothing from him.

It has a lot of sense if they were using 110nm chips, the power consumption would have been huge...

[primeminer]

http://8btc.com/data/attachment/forum/201503/11/114439md5d5d572lk65jdu.png

thats the location where Fried Cat was last seen

apparently they got in trouble with local officials and got arrested as the partner site (apparently a food factory) has been stealing electricity. All people at the site and hardware has been arrested.

That is what I can understand with my limited Chinese is being said on the weibo

[HarmonLi]

There is an on-going thread with an active discussion on one of the chinese social networking sites. I cannot translate well so the bits and pieces I can parse through insinuates they are trying to and may have found Fried Cat:

http://8btc.com/thread-14566-10-1.html

It looks like FC ran away because they were stealing electricity and if this is true, the police is already chasing FC and whether they caught it or not, we are going to get nothing from him.

It has a lot of sense if they were using 110nm chips, the power consumption would have been huge...

But did FC steal electricity or was it the operators of the mining farm. I don't think that FC would be so unwise to steal electricity! 110nm chips!? They were mining with gen 3 (BE200) chips which are 40nm an consume about 0.8W/GH/s

[elasticband]

grapevine says, because cooperation with grilled cat food factory were detained by the police to steal electricity? ?

LOL i joked about it being for stealing electricity, you never know though.....

[HarmonLi]

grapevine says, because cooperation with grilled cat food factory were detained by the police to steal electricity? ?

LOL i joked about it being for stealing electricity, you never know though.....

The translation makes me laugh, as well. It sounds like the police detained them and forced them to steal electricity for their grilled cat-food production site. Well makes sense.

[KarmaShark]

http://8btc.com/data/attachment/forum/201503/11/114439md5d5d572lk65jdu.png

thats the location where Fried Cat was last seen

apparently they got in trouble with local officials and got arrested as the partner site (apparently a food factory) has been stealing electricity. All people at the site and hardware has been arrested.

That is what I can understand with my limited Chinese is being said on the weibo

What I was able to piece out was the Huaian location was being used as a cover to steal electricity. Something happened, the police were alerted and came in, arrested everyone that was involved. This was months ago, and FC has been on the run ever since. There are others saying he has ran with the money and others that do not believe this was maliciously planned. More or less in-line with the above, best we have the individual who has translated the emails to take a gander at that thread.


The end of this mystery is nearing to close.

[AirWolf]

There is an on-going thread with an active discussion on one of the chinese social networking sites. I cannot translate well so the bits and pieces I can parse through insinuates they are trying to and may have found Fried Cat:

http://8btc.com/thread-14566-10-1.html

It looks like FC ran away because they were stealing electricity and if this is true, the police is already chasing FC and whether they caught it or not, we are going to get nothing from him.

It has a lot of sense if they were using 110nm chips, the power consumption would have been huge...

But did FC steal electricity or was it the operators of the mining farm. I don't think that FC would be so unwise to steal electricity! 110nm chips!? They were mining with gen 3 (BE200) chips which are 40nm an consume about 0.8W/GH/s

Check again the second part of the translation of the Rockxie disclosed emails, they were using 110nm chips, this was a scam since day one.

So basically: The miners were not stolen, but IMPOUNDED, FC is not missing but ARRESTED, and we are totally SCAMMED BEYOND REDEMPTION.