AMHash1: Cost-Effective Mining Contract

[Blazed]

It does not put any hashing power in there hands at all..they have a share of something that represents hashing power. It is not like regular cloud mining since you have 0 control of it. You pay some coins and hope that it makes you a profit. Personally I do not see how anyone but AM makes a profit from it unless you dump them the second you see a decent buy order.

How is that different from regular cloudmining?

You can speculate on sha 256 alt coins or select a different pool...maybe a solo pool and get lucky. Do not get me wrong ALL cloud mining services make you a loss. Otherwise they would not sell it to you.

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[jimmothy]

It does not put any hashing power in there hands at all..they have a share of something that represents hashing power. It is not like regular cloud mining since you have 0 control of it. You pay some coins and hope that it makes you a profit. Personally I do not see how anyone but AM makes a profit from it unless you dump them the second you see a decent buy order.

How is that different from regular cloudmining?

You can speculate on sha 256 alt coins or select a different pool...maybe a solo pool and get lucky. Do not get me wrong ALL cloud mining services make you a loss. Otherwise they would not sell it to you.

Which cloudmining companies are offering full control of the hashrate?

[Blazed]

I know Nimbus does...not that it really matters all of them cost more than they mine + most are ponzi's.

[Mabsark]

I know Nimbus does...not that it really matters all of them cost more than they mine + most are ponzi's.

What miners are actually cheaper once you factor in PSU, shipping, maintenance and delivery costs?

[Blazed]

I know Nimbus does...not that it really matters all of them cost more than they mine + most are ponzi's.

What miners are actually cheaper once you factor in PSU, shipping, maintenance and delivery costs?

None are..always better to buy BTC and hold not buy "cloud mining". Personally I do really well buying used miners unless they are made by AM of course, but I will not bother going into that with an AM share holder.

[Mabsark]

I know Nimbus does...not that it really matters all of them cost more than they mine + most are ponzi's.

What miners are actually cheaper once you factor in PSU, shipping, maintenance and delivery costs?

None are..always better to buy BTC and hold not buy "cloud mining". Personally I do really well buying used miners unless they are made by AM of course, but I will not bother going into that with an AM share holder.

Actually, with a 10% difficulty increment, you'd break even after 160 days according to BitcoinWisdom. The last 3 difficulty increases have been 0.98%, 2.81% and 10.05%. The next difficulty increase is set to be around 5.63% according to BitcoinWisdom.

[Blazed]

I know Nimbus does...not that it really matters all of them cost more than they mine + most are ponzi's.

What miners are actually cheaper once you factor in PSU, shipping, maintenance and delivery costs?

None are..always better to buy BTC and hold not buy "cloud mining". Personally I do really well buying used miners unless they are made by AM of course, but I will not bother going into that with an AM share holder.

Actually, with a 10% difficulty increment, you'd break even after 160 days according to BitcoinWisdom. The last 3 difficulty increases have been 0.98%, 2.81% and 10.05%. The next difficulty increase is set to be around 5.63% according to BitcoinWisdom.

So I might break even in 5 months...and I would have to trust in Havelock the entire time? To me that does not sound like a good deal, but hey invest away 

[Mabsark]

So I might break even in 5 months...and I would have to trust in Havelock the entire time? To me that does not sound like a good deal, but hey invest away  

Well, you said that you can't make any profit from cloud mining and that most of them are ponzi's. What's so funny about that is that you're also promoting a cloud mining service in your sig which is significantly more expensive than AMHash. So, are you deliberately promoting a ponzi?

[Blazed]

So I might break even in 5 months...and I would have to trust in Havelock the entire time? To me that does not sound like a good deal, but hey invest away  

Well, you said that you can't make any profit from cloud mining and that most of them are ponzi's. What's so funny about that is that you're also promoting a cloud mining service in your sig which is significantly more expensive than AMHash. So, are you deliberately promoting a ponzi?

Hey you are also sporting a cloud signature! I get paid some BTC for my signature space nothing more. I mine the old fashioned way since 2012 with in hand hardware  I assume AM has some real time mining stats I may view unlike GAW?

[Mabsark]

Hey you are also sporting a cloud signature! I get paid some BTC for my signature space nothing more. I mine the old fashioned way since 2012 with in hand hardware  I assume AM has some real time mining stats I may view unlike GAW?

Yes, I have an AMHash sig. Good job I'm not calling them a ponzi. That would be hypocritical of me. As for the real time stats, it would be a horizontal line on a graph because you get 1 GH/s per share. In other words, you don't need real time stats because your hash rate doesn't vary. AMHash absorbs that variance.

[jimmothy]

Hey you are also sporting a cloud signature! I get paid some BTC for my signature space nothing more. I mine the old fashioned way since 2012 with in hand hardware  I assume AM has some real time mining stats I may view unlike GAW?

Yes, I have an AMHash sig. Good job I'm not calling them a ponzi. That would be hypocritical of me. As for the real time stats, it would be a horizontal line on a graph because you get 1 GH/s per share. In other words, you don't need real time stats because your hash rate doesn't vary. AMHash absorbs that variance.

I think he means an AM mining address in which case:

1HtUGfbDcMzTeHWx2Dbgnhc6kYnj1Hp24i
1ERszMSERwHNR9Xty73KZXpsg1jjBXWcHh
1K7AuMJwVfZg3UVjinnjT2HzG4pJvACat6

As for GAW, they are almost definitely a ponzi. See here: https://bitcointalk.org/index.php?topic=720844.4500

[Puppet]

Actually, with a 10% difficulty increment, you'd break even after 160 days according to BitcoinWisdom.

Say what? Try again, this time dont forget to enter maintenance fees.

The highest difficulty increment it will support is 4%, and then it takes nearly a year to break even. Morover,  it requires  an end difficulty that is just 90B, The only way difficulty will be that low a year from now, is if Bitfury 28nm falls flat on its face, KnC joins BFL and HF in bankruptcy, spondoolies is bombed by Hamas and friedcat put in prison.

[Elvis Trout]

Actually, with a 10% difficulty increment, you'd break even after 160 days according to BitcoinWisdom.

Say what? Try again, this time dont forget to enter maintenance fees.

The highest difficulty increment it will support is 4%, and then it takes nearly a year to break even. Morover,  it requires  an end difficulty that is just 90B, The only way difficulty will be that low a year from now, is if Bitfury 28nm falls flat on its face, KnC joins BFL and HF in bankruptcy, spondoolies is bombed by Hamas and friedcat put in prison.

care to share your calculations on that?

[Puppet]

Sure. Cant link directly, but just go here:
https://bitcoinwisdom.com/bitcoin/calculator

enter these parameters:



and you get



Then try 5% or 10% and see what happens.

[Mabsark]

Sure. Cant link directly, but just go here:
https://bitcoinwisdom.com/bitcoin/calculator

Then try 5% or 10% and see what happens.

What's with that maintenance cost?

[Puppet]

From havelock: "maintenance fee is $0.00163 per GH per day or $0.0489 per GH per month)"

[Elvis Trout]

Yup, I see that you're right, thanks for sharing

Maintenance fee is taken straight from the AMhash page.

Still, buying and selling shortly after IPO has always worked out well in the past, although with the prospect of multiple IPOs on the horizon that isn't very likely this time. I guess I'll use these shares to hedge my shorts.

[Mabsark]

From havelock: "maintenance fee is $0.00163 per GH per day or $0.0489 per GH per month)"

That explains the difference then. I missed the "per second" part of the 1.89*10^-8.

[Puppet]

lol. So your maintenance fees were off by a factor  86400x.  It happens, no worries, you can sell your shares back in to a rich bidbook on havelock. If you have more than ~2 BTC worth of shares, you'll still get over 50% of what you paid a few days ago. Great investment

[Mabsark]

lol. So your maintenance fees were off by a factor  86400x.  It happens, no worries, you can sell your shares back in to a rich bidbook on havelock. If you have more than ~2 BTC worth of shares, you'll still get over 50% of what you paid a few days ago. Great investment

Don't be feeling too smug with yourself - I don't own any AMHash shares.