Find my iphone says erased 1 hour ago?

*read my last question, it is related
Does this mean that the data on my stolen device is already erased? All of it? Or just the data on iCloud?
Also, The thief can no longer use the phone now?
Please elaborate I'm very confused

Like I said, it is erased. What you see on iCloud is your backed up data. It is stored virtually so you can put that data on another iPhone when you get it. There's nothing on that phone any more. Just like out of the box when you got it. But it does have your iCloud activation lock and that will prevent it's future use. Right now, they can't do anything. They will sell it on Craigslist to someone who doesn't know any better and rip them off, or it will be smuggled out of the US to head to central Europe, South America, or Africa. Your data is safe. See Apple's explanation below but you did all the things you were supposed to do. Best luck.
http://support.apple.com/.../kb/ht5818

http://support.apple.com/.../kb/ph2696