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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3898850 times)
mc_lovin
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March 25, 2015, 12:52:52 AM
 #26361

Now? There's been nothing left for over a year. Just smoke and mirrors.


Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them Smiley

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

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March 25, 2015, 03:22:53 AM
 #26362

Now? There's been nothing left for over a year. Just smoke and mirrors.


Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them Smiley

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.
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March 25, 2015, 12:54:02 PM
 #26363

Now? There's been nothing left for over a year. Just smoke and mirrors.


Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them Smiley

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

Maybe you cannot anything about them but i can and i will if they don't come up with a solution soon.

HAVELOCK ROBBED ME MORE THAN 170BTC - BEWARE OF THIS THIEVES!
lucasjkr
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March 25, 2015, 02:05:25 PM
 #26364

Now? There's been nothing left for over a year. Just smoke and mirrors.


Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them Smiley

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

How is running away idiotic, exactly?

He's got a fortune. He's got the know how to create a new asic.

All he really loses is the goodwill of his fried cat name, which was valuable but not millions of dollars valuable.
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March 25, 2015, 03:24:11 PM
 #26365

Now? There's been nothing left for over a year. Just smoke and mirrors.


Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them Smiley

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

Maybe you cannot anything about them but i can and i will if they don't come up with a solution soon.

What exactly are you waiting for? I have been reading your threats of legal action for awhile. If you really are in a position to take action, DO IT. Your repetitive empty threats make me think you're just trying to make yourself feel better. If I was in a position to do something, I would already be moving forward. So either way Airwolf Shut the hell up and/or do something already. I'm tired of all your bluster. We got fucked it sucks.

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OgNasty
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March 25, 2015, 06:51:35 PM
 #26366



Cool site.  Email sent to the owner.  Smiley

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March 25, 2015, 06:57:11 PM
 #26367

I wonder if WTCR.CA has any communication with FC or his gang of crooks anymore. WTCR was a major distributor for them in 2013\2014. I know that the owner Joe used to be in constant communication with them.
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March 25, 2015, 07:08:49 PM
 #26368

Dear AMHash Contract Holders,

ASICMINER has prepared a contract offering on HaveLock with the ticker symbol AMHashLC. AMHashLC is a contract to offer final settlement for current holders of contracts AMHash. AMHash is a bitcoin mining contract, which is currently not performing due to unforeseen events. AMHash is a complex product which was provided through the collaboration of 4 different parties ( Operator(confidential), ASICMINER, ROCKMINER, Havelock). Each party provided certain guarantees and made certain representations. The continuation of the AMHash contract is currently uncertain due to structural problems in some of the participating companies. Furthermore, it is not clear how the resulting liability should map to the contractual framework and would need to be discovered through formal proceedings.

With AMHashLC, AMHash contract holders will now have an option to accept a default on their contract and transfer any rights for claimed damages arising out of the non-performance of AMHash to the issuer of AMHashLC. The issuer of AMHashLC is ASICMINER. Please note that this offer is not an assumption of liability. It is a proactive offering to allow people to discharge of their AMHash contracts. Please study the specific details for the AMHashLC offering before you make a decision.

HOW TO SWAP YOUR AMHASH UNITS TO AMHASHLC UNITS:

Log into your Havelock Account and click on the xfr button to issue the units back to the issuer. By sending AMHash units back to the issuer your account will receive an equivalent amount of AMHashLC units in return. There is a potential time delay due to this process having to be performed manually.


For AMHash contract holders who have no account with HL: Please contact ROCKMINER for further instructions on how to migrate the contracts to Havelock. We expect ROCKMINER to make a corresponding announcement which contains the necessary details on migration procedures.

Yours truly,
ASICMINER management

AMHashLC offering:
==================

AMHashLC is a liquidated amount contract in exchange for damages and liabilities arising out of contracts AMHash. It can only be obtained by contract holders of AMHash via a swap of AMHash for AMHashLC contracts at a 1:1 ratio. AMHashLC is not tradable otherwise.

Carefully read the terms and conditions before executing the swap.

Introduction
============

AMHashLC is a contract to offer final settlement for current holders of contracts AMHash. AMHash is a bitcoin mining contract, which is currently not performing due to unforeseen events. AMHash is a complex product which was provided through the collaboration of 4 different parties ( Operator(confidential), ASICMINER, ROCKMINER, Havelock). Each party provided certain guarantees and made certain representations. The continuation of the AMHash contract is currently uncertain due to structural problems in some of the participating companies. Furthermore, it is not clear how the resulting liability should map to the contractual framework and would need to be discovered through formal proceedings.

With AMHashLC, AMHash contract holders will now have an option to accept a default on their contract and transfer any rights for claimed damages arising out of the non-performance of AMHash to the issuer of AMHashLC.

The issuer of AMHashLC is ASICMINER.

AMHashLC terms
==============

1) DEFINITION: Each AMHashLC unit represents a total of 0.0003 BTC (0.3 mBTC) payable to the holder of the contract.
2) ACQUISITION AND IRREVERSIBILITY: AMHashLC can be obtained by holders of AMHash contracts only. Each unit of AMHash can be exchanged for one unit of AMHashLC. The exchange is irreversible.
3) COMPLETE AND FINAL TRANSFER: By executing the swap of AMHash for AMHashLC, the owner transfers all prior, existing and future rights and privileges arising out of holding the AMHash contract to the issuer of AMHashLC.
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.
4) NOT TRANSFERABLE: AMHashLC shall not be traded.
5) GUARANTEED FUNDING: Sufficient funding for all AMHashLC contracts is provided prior to the offering and is secured in BTC address 1FU3uhBR4bKTavbeiJXdHHs13W5bRjM7DA.
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.

Q&A
===

Q) Why should you choose to swap your AMHash for an AMHashLC contract?
A) Piece of mind and closure. You're exchanging an uncertain and difficult to enforce contract for a fully funded and scheduled payment plan.

Q) Do I have to perform the swap?
A) No - you do not have to. You have 3 choices: a) Wait for the parties to fix the product and start performing on it again b) Look into litigation or alternative enforcement options c) accept the swap

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.

Q) I am not satisfied with the amount I get back on the contract.
A) The amount is chosen from practical considerations. The issuing party is currently heavily undercapitalized, the contractual situation and enforcement is difficult and the prospect for recovery of damages is limited if not to say nil. Your lawyer will likely confirm that the offer is in fact attractive.

Q) Who failed and who was responsible for AMHash?
A) The answer to that question is not easy. An important key person is missing and cannot make any statement. The only thing which is clear by now is that basic risk coverage was not considered, which makes all liabilities arising out of any of the contracts effectively unsecured claims.
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March 25, 2015, 07:10:40 PM
 #26369

Each AMHashLC unit represents a total of 0.0003 BTC (0.3 mBTC) payable to the holder of the contract.  Kiss


The issuing party is currently heavily undercapitalized, the contractual situation and enforcement is difficult and the prospect for recovery of damages is limited if not to say nil. Your lawyer will likely confirm that the offer is in fact attractive. Cheesy
EternalWingsofGod
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March 25, 2015, 08:01:04 PM
 #26370

Now? There's been nothing left for over a year. Just smoke and mirrors.


Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them Smiley

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

I'm a bit suprised there was still a working URL keeping track of the market capital
It's still quite the farcry from the days it was a 100 million dollar company but I guess the mighty have kept falling and getting weaker over time.

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March 25, 2015, 08:06:55 PM
 #26371

Am I missing something or does that seem like a pretty decent offer given the current situation?

Divs to date are ~0.0007 btc/share + 0.0003 btc/share = 0.001 btc/share.

So the total loss for IPO investors went from ~45% to ~20%.
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March 25, 2015, 08:08:55 PM
 #26372

Am I missing something or does that seem like a pretty decent offer given the current situation?

Divs to date are ~0.0007 btc/share + 0.0003 btc/share = 0.001 btc/share.

So the total loss for IPO investors went from ~45% to ~20%.

For Amhash3 holders, not so, they got paid 0.42 per TH do date if my math and dates are correct
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March 25, 2015, 08:15:39 PM
 #26373

yip, on Amhash3 direct shares i have received 0.40598 per TH
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March 25, 2015, 09:18:27 PM
 #26374

Now? There's been nothing left for over a year. Just smoke and mirrors.


Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them Smiley

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

How is running away idiotic, exactly?

He's got a fortune. He's got the know how to create a new asic.

All he really loses is the goodwill of his fried cat name, which was valuable but not millions of dollars valuable.
would you hire a guy who ripped off so many people and ran? would you want anyone to know you employed or even cooperated with such a thief? would you give funds to such a man for future endeavors? if he did steal all this his name is mud, and not the fried cat name, but his actual identity, its all over these threads...there are too many detectives on the internet to remain completely anonymous.

a blatant theft such as what this appears to be is career suicide, at least in the btc/asic world, and trust me, if he surfaces in aerospace or some other tech related feild where his skills are valued, we will be more than willing to let his bosses, investors, partners know exactly the type of businessman he is.

I don't think he would be that reckless. swiping a few million is one thing, keeping the ability to earn potentially many many more millions is quite another.

granted, it doesn't look good, either way, and I hate to admit it but as of now it looks like he simply embezzled the whole AM and fled. no one can say 100% for sure yet as none of us know a thing. the board, it seems were just puppets who were never told anything to begin with, everything is in the dark. Chinese authorities are sure to be interested, but language barriers might make this difficult too.

which brings me full circle back to the top where I guess he actually did just fuck us all and take the money and run. why not? not a single person here can do shit about it. are you going to go to china, learn Chinese, then do all sorts of detective work, deal with Chinese authorities, hunt down fc and then take him to an abandoned warehouse where you hold a gun to his head and demand he give you all the btc?

i cant really blame all these various "securities" for scamming like they ALL do. Its the easiest burn in the world.

anyways, I'm moving forward with a new concern... anyone wanna buy shares in MY brand new, super excellent ASIC company? get in at IPO only 500000 shares at 0.1 each, super high returns, 100% guaranteed  Wink
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March 25, 2015, 11:41:50 PM
 #26375

Ultimately despite what AMhashLC says or thinks, Amhash did turn out to be a ponzi scheme.
Holders were left to believe all was fine, when really they were not.
Someone runs off with the AMhash funds collected.
Amhash1 buyers come off the best, followed by amhash2, then amhash3 and sadly lastly we have those that just bought shareson the open market at 0.001 and will get back 0.0003.



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March 26, 2015, 12:50:34 AM
 #26376

so this thread is now an AMhash thread like all the others, is it?
I got out of amhash as soon as my 5btc turned into 6btc, like a month in. Its my AM1 shares that I'm mourning here.
how do i get into the chinese social medias that discuss FC, AM, et al?
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March 26, 2015, 02:16:49 AM
 #26377

and another thing...
has this been verified as the AM wallet held by FC? https://blockchain.info/address/3KBUuGko4H5ke7EVsq9B7PLK1c5Askdd7y

if so has anyone been able to follow the coins?

im looking at it but idk what im doing and get lost pretty quick. there is still 30k btc in it, but plenty moved out right around the bad news....

the majority went to 3KgtbGgaX2ngstNpvyv7LwpHSweVeqGbpM and 3MkwFfGNQDve7vz1z6gUDVxkuQpcSV3Mz8

after that, i have no idea?
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March 26, 2015, 10:23:50 AM
 #26378

so this thread is now an AMhash thread like all the others, is it?
I got out of amhash as soon as my 5btc turned into 6btc, like a month in. Its my AM1 shares that I'm mourning here.
how do i get into the chinese social medias that discuss FC, AM, et al?

AMHash is like a bond AM (or whatever other party) owns the investors, so they have to pay back with whatever they left. However, the AM share is just a profit sharing (it's not even the share of the company bit fountain, if I am not wrong). Apparently AM has no liability to pay any dividend as long as there's no profit. Moreover, considering AM has already paid more than 6x of IPO price as the dividend, they really do not own the ( profit sharing) shareholder anything if they choose to close today.

I know it's really unfair for those bought AM shares at high price, but the reality is the reality.
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March 26, 2015, 03:52:48 PM
 #26379

Ultimately despite what AMhashLC says or thinks, Amhash did turn out to be a ponzi scheme.
Holders were left to believe all was fine, when really they were not.
Someone runs off with the AMhash funds collected.
Amhash1 buyers come off the best, followed by amhash2, then amhash3 and sadly lastly we have those that just bought shareson the open market at 0.001 and will get back 0.0003.





Clearly you have no idea what a Ponzi is. As shady as the end was it was not a ponzi there was no inflow of new money.

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March 26, 2015, 09:41:42 PM
 #26380

so this thread is now an AMhash thread like all the others, is it?
I got out of amhash as soon as my 5btc turned into 6btc, like a month in. Its my AM1 shares that I'm mourning here.
how do i get into the chinese social medias that discuss FC, AM, et al?

AMHash is like a bond AM (or whatever other party) owns the investors, so they have to pay back with whatever they left. However, the AM share is just a profit sharing (it's not even the share of the company bit fountain, if I am not wrong). Apparently AM has no liability to pay any dividend as long as there's no profit. Moreover, considering AM has already paid more than 6x of IPO price as the dividend, they really do not own the ( profit sharing) shareholder anything if they choose to close today.

I know it's really unfair for those bought AM shares at high price, but the reality is the reality.

Umm, no thats not how it works. The shareholders collectively own all of AM assets. If AM closed today they have to liquidate those assets and return remaining the capital to the shareholders. Unlike the complex situation with AMHash, all AM assets are owned by just one company, which makes litigation easier if they did anything outside of the best interests for the shareholders.   
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