AMHash1: Cost-Effective Mining Contract

[Chris_Sabian]

Q) Is this a scam?
A) No. It's a non-performing contract due to unforeseen events. The issuer of AMHashLC will look into the legal enforcement options against what they consider the responsible parties. By offering AMHashLC as a swap, the issuer of AMHashLC will hold the corresponding contract rights.

HA!

1. ASICMiner offers 5 Ph/s of cloudmining service based on their BE200 chips for sale in October - December.
2. ~3.5 Ph/s of miners 'disappear' around Dec 25, 2014.
3. The person in charge of the service, Friedcat, disappears around the end of January.
4. AMHash pays dividends based on non-existent hashrate until Chinese New Year.
5. Customers aren't told anything until end of February
6. No one has a clue what is going on as finders point in all directions (Havelock, Rockminer, ASICMiner, AMHash)
7. Customers are screwed over by 'investing' in one of the most 'trusted' names in Bitcoin mining (I used that term very loosely)

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[runam0k]

The issuer of AMHashLC will look into the legal enforcement options against what they consider the responsible parties. By offering AMHashLC as a swap, the issuer of AMHashLC will hold the corresponding contract rights.

So presumably there is a reasonable chance of recovery?

[elasticband]

The issuer of AMHashLC will look into the legal enforcement options against what they consider the responsible parties. By offering AMHashLC as a swap, the issuer of AMHashLC will hold the corresponding contract rights.

So presumably there is a reasonable chance of recovery?

AmhashLC is owned by ASICminer, so the chances of them seeking legal action against themselves is minimal...... lol

[tittiecoiner]

So Asicminer buys the shares back for cheap and when all shares have been bought, FriedCat as well as the missing hardware reappears?

[SilenceOfTheLamb]

I hope everyone appreciates the beauty of this endgame: 100% clean exit for a fraction of what was taken from you.  
Nice!

Edit @tittiecoiner: Maybe

[flame1012]

This is definitely convincing someone to embrace malaria after showing the face of death.
The document of a perfectly planned scam.
Blasphemy!

[tittiecoiner]

Edit @tittiecoiner: Maybe

TBH, that's exactly what I expect. Too much scam the last time.

[EternalWingsofGod]

Q) Is this a scam?
A) No.

GG, lightbox!  

Lightbox sold the company to a Panaminian exchange a while back
Good on you though for recalling that your an old newbie

[SilenceOfTheLamb]

Q) Is this a scam?
A) No.

GG, lightbox!  

Lightbox sold the company to a Panaminian exchange a while back
Good on you though for recalling that your an old newbie

Lol, so you doubt I'm new, but believe lightbox's "The Panama Fund"?  I mean, I shit you not, "The Panama Fund."
Talk about selective incredulity

[SilenceOfTheLamb]

This is definitely convincing someone to embrace malaria after showing the face of death.
...

They let you contemplate the hopelessness of your situation just long enough--timing impeccable.

[newguy05]

last trade was quoted at 0.0009 btc, now they are offering 0.0003 btc.  So a 33% recover, honestly this looks a gift. I didnt expect those scammers to offer anything.  Sadly i doubt most of the small fish have any recourse but to take this deal, as it's better than nothing.

what is it with bitcoin and scams.

[xhomerx10]

Q) Is this a scam?
A) No.

GG, lightbox!  

Lightbox sold the company to a Panaminian exchange a while back
Good on you though for recalling that your an old newbie

Lol, so you doubt I'm new, but believe lightbox's "The Panama Fund"?  I mean, I shit you not, "The Panama Fund."
Talk about selective incredulity

 While were on the topic of selective incredulity NotLambChop... er whomever you may be.  Why don't you expand on your 100% clean exit theory?  Naw! Scratch that.  It would be better if you simply demonstrate a 100% clean exit strategy to all of us right now.  We, in kind will give you nothing for it.

[SilenceOfTheLamb]

Q) Is this a scam?
A) No.

GG, lightbox!  

Lightbox sold the company to a Panaminian exchange a while back
Good on you though for recalling that your an old newbie

Lol, so you doubt I'm new, but believe lightbox's "The Panama Fund"?  I mean, I shit you not, "The Panama Fund."
Talk about selective incredulity

 While were on the topic of selective incredulity NotLambChop... er whomever you may be.  Why don't you expand on your 100% clean exit theory?  Naw! Scratch that.  It would be better if you simply demonstrate a 100% clean exit strategy to all of us right now.  We, in kind will give you nothing for it.

4) NO RECOURSE: By executing the swap of AMHash for AMHashLC, the owner relinquishes the right for any direct or indirect claims arising out of holding the AMHash contract against any party involved in the creation, performance or sale of the contract AMHash.

What about "relinquishes the right for any direct or indirect claims" don't you get?

[cesmak]

Can someone explain this (that for me) is an incongruity ....

6) SCHEDULE: The swap will be offered until April/20/2015. After April/20/2015 the swap offering will be closed and no further swaps will be possible. The total payment to units of AMHashLC will be split into 5 equal installments paid on a weekly schedule. The first payment will be provided after April/20/2015 and prior to April/24/2015 and the combined total will be paid out before May/29/2015.
7) FURTHER OFFERINGS: We reserve the right to do additional rounds of AMHashLC offerings with the same conditions after May/29/2015, should it be deemed necessary.

So there will no other swap (by point nr. 6) but they reserve the right to do more swaps in the future !?!?!?! what does it mean... !!!!

[AirWolf]

That's it!!

What is most unacceptable of this ridiculous offer is not only the price, but the infuriating fact that you want us to wait A MONTH FROM NOW and then 5 WEEKS MORE to receive 1/4 of what we invested!!!!!

I will send the papers to my friends in the Russian government who will in turn send them to their friends in the Chinese gov. and will fry you as a cat AMHASH

For HAVELOCK i will contact Canadian IRS and denounce the whole maneuver to avoid taxes in Canada, and also file a police report against you and your brother.

[xhomerx10]

Can someone explain this (that for me) is an incongruity ....

6) SCHEDULE: The swap will be offered until April/20/2015. After April/20/2015 the swap offering will be closed and no further swaps will be possible. The total payment to units of AMHashLC will be split into 5 equal installments paid on a weekly schedule. The first payment will be provided after April/20/2015 and prior to April/24/2015 and the combined total will be paid out before May/29/2015.
7) FURTHER OFFERINGS: We reserve the right to do additional rounds of AMHashLC offerings with the same conditions after May/29/2015, should it be deemed necessary.

So there will no other swap (by point nr. 6) but they reserve the right to do more swaps in the future !?!?!?! what does it mean... !!!!

 I'm no lawyer but I think it means you have until the 20th of April to accept the terms of this swap after which you will no longer be able to swap into this round and will have to wait until after May 29th at which time there may or may not be another round to swap into.

[klondike_bar]

such bullshit. one more reason to stay away from cloudmining and these unlicensed 'stock exchanges'

AM1 was once 4BTC/share. now its 0.01BTC, thats <1% of the value it once held. Friedcat ran off with the other 99.8% and the asicminer board members do nothing but hide information and fail to produce new technology

[l3sny]

The issuer of AMHashLC will look into the legal enforcement options against what they consider the responsible parties. By offering AMHashLC as a swap, the issuer of AMHashLC will hold the corresponding contract rights.

So presumably there is a reasonable chance of recovery?

Where did you get it from?

[cesmak]

And now some math that need to be clarify too......

In older posts i've read that Amhash sold 3.5 PHs of the total 5PHs deployed... is it confirmed ?


If this is the real numbers....

The addres (1FU3uhBR4bKTavbeiJXdHHs13W5bRjM7DA) they made public with the found for the swap contains 1300 BTC

so 1300 / 0.0003 = 4,333,333 GHs so if they sold 5 PHs the founds are not enough to pay all the shares in case all customers accepts the swap

If they sold 3.5PHs remains some BTC's in the bag for who ? Will they divide the remaininig founds to the customers that will accept the swap or they take back that founds ?

Or they will pay 0.8PHs to who ? AMHASH himself or ASICMINER or who ?

[cryptojumper]

the scammers are returning some money 
this is really a step forward that should make an example to all other scammers  can you advise me where can i invest when i buy some btc to make part of them back