In Hangzhou, the name of Fire Ant Mining is not unfamiliar. In 2019, Fire Ant held a large-scale mining summit, and its founder Chen Xinrong spoke to the outside world. The platform claims that its cloud computing power products are supported by physical mining machines, and the income is higher than that of general mining products.
On July 21, the users BTC income was replaced with the new currency FA, and on August 4, the platforms income distribution stopped suddenly. Contradicting the official announcement, the payment of benefits has been postponed again and again.
However, in the struggle between the two sides, the information dug up by the investors is more shocking than the other.
September of 2019 was a period when the cloud mining project Fire Ant Mining made a lot of noises to the outside world.
Chen Xinrong, the founder of Fire Ant Mining, said in the Fire Ant Mining New Retail Launch Conference held at that time that Fire Ant Pro is the DAPP of Fire Ants global ecosystem, which belongs to Fire Ant Group, and its operating entity in China is Zhonglin (Hangzhou) Blockchain Technology Co., Ltd.
Just one year later, the actual income distribution reported by users is no longer consistent with the official announcement, and the time is constantly being delayed. Recently, investors of Fire Ant Cloud computing power and FA currency investors are eager to get in touch with Fire Ant. After gathering information from all parties, many investors have reflected that the recovery time has been delayed and shareholders have also been deceived. , The mining machine is not turned on and other statements.
According to the official announcement issued by Fire Ant, on June 29, Fire Ant officially released the Announcement on the Power Limitation of Mining Machines in Angola, saying that it will suspend daily computing power income from July 1 to July 20.
However, on July 21, the income that should have been settled as BTC was replaced by the new currency FA. By August 4th, the revenue had been stopped, causing investors to question. At the same time, someone broke the news that the companys mining machines were not even turned on.
On the one hand, there are investors in the community who are still asking about the recovery time of income. On the other hand, Chen Xinrong responded to Blocklike: Africa No. 1 and No. 2 are not available for the time being. The government restricts electricity, and all others distribute income normally.
He insisted: There is everything in the APP. From June 29th to September 2nd, everything is subject to the announcement. All our operations are performed in accordance with the contract, which is clearly written in the purchase agreement.
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secondary title In 2019, with the steady growth of BTC prices, more mining products were introduced to the market. As a more flexible Bitcoin mining solution, cloud mining machines were once welcomed by ordinary investors. However, due to information asymmetry, whether there is a physical mine support is considered very important. In the previous public announcement, the introduction of Fire Ant Mining is as follows: Fire Ant Mining is a time-sharing mining service platform for cloud computing power under Fire Ant Pro. Its business scope covers the entire digital currency mining industry chain, and it has the worlds The ZEC mine field provides one-stop hosting services for mining, and has application products such as cloud computing power and electricity fee treasure. At present, Fire Ant Mining has deployed a number of large-scale mining farms in Fujian, Sichuan, Hunan, Gansu, Angola and other places with abundant power resources, covering a total area of more than 200 acres, and can supply 400,000 mining machines to start operation at the same time, including Bitcoin, Zcash, Ethereum, Litecoin, etc. Fire Ant once announced that its Angolan mine is going to expand, but because Angola is an area with extremely scarce power resources, some people in the community questioned this news very early. Jia Xiaobie from Babbitt once commented on the news, saying: Isnt there a lack of electricity in that place? It seems that there is a lack of electricity in that place and it is not easy to collect electricity bills. After the official announcement Announcement on Power Limitation of Mining Machines in Angola, on July 21, the income was replaced with the new currency FA. By Aug. 4, gains stalled again, prompting investor skepticism. image description (On July 21st, the income was replaced by FA, and since August 4th, user income has not been updated) At the beginning of September, the income recovery time announced by the official announcement invalidated again, and some investors could only ask Fire Ant Customer Service in the WeChat community and continue to drag. The investor learned from a friend who was close to Fire Ant that the income that was stopped was not an isolated case, but the income of all investors was stopped. Investors also reported some situations: Some insiders said that the mining machines were not turned on, perhaps because the boss owed debts, and no one would turn on the mining machines for him. The employees didnt know, and they all thought it was Its really digging. Faced with the current situation, some investors can only tell Blocklike: The previous earnings cannot be really mined, they should be bought with investors money and sent out. If you are really digging, you wont be unable to distribute income now. When you bought this cloud computing power, the price of BTC was about 4,000 to 5,000 USDT, and now (BTC price) is about 10,000 USDT. To be honest, investors Buying coins directly won’t be such a trap.” So, what is FA that has been used as an income proxy? Around June this year, the FA project emerged. This coincided with the time when Fire Ant issued a power cut announcement. In the related live broadcast community of the FA currency in June, it can be seen that Chen Xinrong introduced FA under the pseudonym Bohu, and his WeChat account is the same person as the owner of Fire Ant identified by the investor. FA is the abbreviation of FireChain, its full name is Fire Ant Global Ecological Points, and its nickname is Fire Ant. According to the introduction, FA is a decentralized digital asset based on Ethereum, issued by Fire Ant Group. It is reported that the currency FA has not yet been included in Feixiaohao, and the risk factor is relatively high. Market data shows that FA has fallen by 70.56% in the past three months. According to the feedback from some investors, there are many local communities for the sale of Fire Ant Cloud computing power, and the FA currency mentioned above has also been strongly recommended by Chen Xinrong to some community partners. FA seems to be Chen Xinrongs new painting cake. In the face of doubts, Chen Xinrong has been emphasizing the purchase agreement in his response to Blocklike: Everything is subject to the announcement. When purchasing cloud computing power, everyone needs to sign a hosting agreement and a purchase agreement. The agreement includes force majeure. , Due to the earthquake, tsunami, and government reasons, the mine cannot operate normally.” Chen Xinrong attributed the main reason why the income could not be distributed on time to the change of policy factors at that time and the fact that some mines were still under construction. This is a F2Pool account number provided by Chen Xinrong: secondary title According to the information displayed by Qichacha, the legal representative of Fire Ant Chinas operating entity Zhonglin (Hangzhou) Blockchain Technology Co., Ltd. has changed several times in June and July 2020. A practitioner in the industry guessed that the main reason for changing the legal person may be to want to do mortgage loans. Some information collected by investors shows that Chen Xinrongs debt situation may not be optimistic, but some of his properties have been transferred. The investor contacted before also provided a screenshot of the details of the person subject to enforcement named Chen Xinrong. The picture shows that the person subject to enforcement, Chen Xinrong, has 10 suspected affiliated companies, and the filing date is June 11, 2020. . What alarmed this investor was that, according to the information he searched on Baidu, in the article Mr. Chen Xinrong, Founder of Tiantian Shangtongbao (Group Photos), Chen Xinrong in the picture is the same person as Chen Xinrong of Fire Ant Mining. However, as early as 2016, Tiantian Shangtongbao was questioned as a pyramid scheme because of its points, drainage and other models. secondary title Blocklike talked with an early digital currency investor from Hangzhou. We learned that in the current mining computing power market, there are still a large number of factors that investors cannot control in many products. Since the BTC mining principles of all products are the same, the difference between the mining machines mainly lies in their own computing power and power consumption. External selling price, mining machine cost, electricity cost, etc. are all issues that need to be considered. The early investor has many years of experience in mining investment. He said: Many products are well packaged, and the product promotion is hype, and there are countless examples of deception in the end. The actual mining machines owned by many companies are far from the agreement. Mining machines that need to be put on the shelves for users. For example, there are 10,000 mining machines, but the computing power of 100,000 mining machines is sold to the outside world. Since BTC has circulation, it is the same to buy directly from the market when cashing. Someone may I will mention the experience of traveling and observing the mine. A banner and a few photos look good. However, there are also mines that specialize in this area of business, such as changing the banners to the name of a specific company for a sum of money, etc. .” “Of course, there are still a large number of factors beyond the control of investors in cloud computing power mining. For example, cloud computing power contracts often stipulate that if the output of computing power is not enough to pay for electricity for 30 consecutive days, the cloud computing power contract will be terminated. Investors’ money is in vain.” So, how to verify whether a company is using high leverage to sell its own computing power products? His suggestion is: the first is to ask to check the account of the other party’s mining pool. If you don’t want to look at the real time, it is also possible to blur the screenshot. According to the computing power of the mining pool account, you can roughly calculate many things, such as volume, The number of mining machines. The second payment invoice, whether it is an invoice for purchasing a mining machine or an invoice for paying electricity bills. This is the hardest part to fake. Because these two are evidence provided by a third-party platform, they are different from general publicity materials, and it is almost impossible to falsify them. These materials have relatively high authenticity. At present, Chen Rongxin also said: The company is operating as usual. If you have any doubts, you can come to the company to take a look.Investors: kill familiar, cut leeks
In one of the screenshots, it can be seen that the statement that No. 3 and No. 4 mines have suspended the distribution of income is the same as Chen Xinrongs response to the media that Africa No. 1 and No. 2 are not available for the time being. The government restricts power, and everything else is normal. Distributing income is contradictory.
However, it is not possible to confirm whether the account has total computing power or partial computing power.
The founders past events involve many
Cloud Mining Market Crisis Hidden
