Bitcoin Forum

Is it worth it?

Which ones should I go for and anybody with hashlets Could you post your investment and current return if it's not a problem, thanks.

If you don't mind ponzi schemes and bullshit/gimmicky marketing then hashlets might be right for you.

What makes you think so?

Could you please explain your point? I've seen this attitude towards cloud mining companies and understand when someone is suspicious or cautious, especially after Lunamine went belly up.
I've been dealing with GAW for about 6 months, from the time they were just starting to sell miners (in Spring).

If you have any questions, you can always visit them in their office. They will also be attending Hashers United in 2 weeks.
http://hashersunited.com/

I have bought just 1 hour ago some Hashlets to test how it work , purchased an started mining in just 10 mins , it was easy . IF you wanna try there is an offer in GawMiners 8'95 for Genesis hashlet instead 9'95 .

Thanks for the advice, I'll buy one just to try.

Does Gawminer prove they are mining with actual hardware?

Is there a blockchain address I can verify gawminer has X amount of hashing power? Or even a pool address?

How do you explain BS like:

- Hashlets can never be unprofitable/never breaks down
- Hashlets can mine on multiple pools
- Scrypt+sha256 miner
- Changeable Algorithms


Everything about hashlets screams ponzi and on top of that it's not even a good deal (for the bitcoin miner at least). They want $0.9/gh when you could buy hardware for less than $0.5/gh.

I'm willing to bet this "super advanced hardware" is actually just a few servers running calculations on how much each user SHOULD be paid for mining and redistributes users payments accordingly. (like a ponzi)

Hashlets are shares, so you don't own a particular miner just a share in it. It can never break down, because they have more hash power then they are offering you, so if one miner gets damaged or replaced you won't even notice. They won't be unprofitable, because they promise to keep the fees low, so you'll always get some profit, no matter what the difficulty will be.
According to them they are leasing most of their hash power to companies (some people even suspected they are doing some code or phone cracking with it) and the payouts are calculated based on the pool payments, so yes it's probably done by a server.
They showed the pictures of 2 data centers they were building and a warehouse full of hardware, so the hash is not fake.
I suspect the main difference between GAW and other companies, the one that makes people suspicious, is that the software seems completely separate of the hardware. You're doing all these upgrades, boosts, pool switching in the API, but it doesn't affect your miner directly. It just afects the way your profits are calculated, while they are directing the power to whatever they feel is profitable at the moment.
I agree, their SHA ofer is not the most profitable, but scrypt looks good. They actually were paying better than most of the competition for the last few weeks.
The super advanced hardware was mostly based on A2 and Zeus units (at least that's what they showed us). But there's no doubt it's there, so I'm willing to bet they are not a ponzi.

Sounds good,  which hashlet should I go for?

back it up with number asshole, because you're not fooling anyone here.

i doubt they are a ponzi, i made my ROI in about 60 days, so im happy with hashlets

because you made ROI they're not a ponzi?

Thats exactly how ponzi works, for every 10 ROIs, there are 100 suckers joining.

That's interesting considering hashlets have been out for only 45 days.

Do you own a time machine?

Like I said there seems to be a steady stream of bullshit flowing from anything GAW.

Smells like BS. How can you possible use scrypt/sha256 miners to do anything other than scrypt/sha256 hashing?


Pics don't prove their legitimacy but I'd still love to see them. So far I've only seen a bunch of unplugged miners in a warehouse that they claimed was mining but was clearly not.

What I want to see is a publicly verifiable address which is mining with 250+ GH/s on the scrypt network like they claim.

1/4th of the entire scrypt network is not easy to hide unless it doesn't exist.


Why don't they just cut the BS/marketing gimmicks and give people a reasonable deal on hosted hardware?

Why all the games/obfuscation?

What's so hard about having integrity?

Look at Hashnest (owned by Bitmain) for example; they claim to have 4Ph for sale and we can easily verify they own at least that amount.

As you can see here: http://mempool.info/pools Antpool (Bitmain) has 3% of the network which equates to ~7PH.

Side note: Why are 100% of your posts GAW related?

I think because he's affiliated with GAW

He could of meant that he's going to make his return in about 60 days.

i bought when they were 15.99$, i didnt counted the days, i counted the profit
just because u're too scared to buy some dosent mean others cant make profits/ROI

instead of screaming GAW is shit, how about buy one hashlet and see whats up ?

u wont reply to u no more btw, u smell like troll

hahah you dont just smell like a troll, your BS proves you're a troll

There are so many red flags when it comes to anything GAW related I'm honestly surprised they've managed to create such a cult following.

shills, the idiot in this thread proved this.

I mean the fcker cant even show any numbers , "i made ROI" BS to attract noobs..... suckers/idiots are born every seconds.

Oh! If they promise I'm sold.

Where do they get the free electricity and free hardware?

If you're surprised by this don't type cryptcominer in the search box.

You'd have an heart attack.

The BOLD part is even crazier. Cant believe how many idiots are sucked into bitcoin

I am extremely tired of the Hyip and Ponzi accusations with basis at GAW, or for any cloud hosting company.  The returns are more than realistic and maintenance fees are fine.  GAW has been quite honest so far and there has been no evidence of Ponzi schemes. 

Yes, GAW is making a change to the industry; mining will actually be PROFITABLE, you heard it, PROFITABLE.

The lack of evidence of real mining is in fact evidence of a ponzi scheme.

You shouldn't be extremely tired of ponzi accusations, you should be extremely tired of the absurd number of cloudmining ponzi schemes.


Yes, GAW will revolutionize the industry with it's patented unicorn dust that doubles hashrate on demand as well as their free electricity generators, algorithm changing asics, and other technological breakthroughs.

- Hashlets can never be unprofitable/never breaks down
By never being unprofitable what they mean is that their hosting fee will ALWAYS be less than the miner makes in a day. Meaning that if the miner gets down to less than $0.08 a day, they will reduce their hosting fee. It never breaks down because most likely we are buying shares of hardware power that they maintain for us
- Hashlets can mine on multiple pools
Mining hardware can always switch pools.
- Scrypt+sha256 miner
Basically what they are doing with their hashlet primes is giving us the option to either use their scrypt miners or their sha256 miners, one at a time.
- Changeable Algorithms
This isn't available yet, but when it is it will be once again switching your share to a different hardware setup they have

As a NO BS post I'm currently 85.6% of Bitcoin ROI in just over 35 days and originally I was looking at about a 70 days ROI.. You can watch my ROI updates here: https://bitcointalk.org/index.php?topic=752824.0

If you want an added discount to the GAW hashlets or Genesis (on top of today's discount) see my signature.

Hehe.

Scrub your browser history after visiting that site!

Nobody can guarantee miner's profitability unless the hardware and electricity comes for free.


Ponzis always pay the first (except cryptcominer  ;D)

You probably will have ROI but many people won't because this is a scam. If you feel good about it go on.

Do you understand that they are not guaranteeing that you will make 100% ROI? They are ONLY guaranteeing that their fees will always be less than the amount of bitcoins mined. Meaning that one day they may have to drop their fee to $0.00 so that your $0.000000000001/day is still "profitable". Don't be tricked by their wording.

I don't think you understand.

They cannot guarantee their fees are less than the amount of bitcoins mined unless they have free electricity.

You say don't be tricked by their wording yet GAWminer puts so much effort in to tricking you with their wording.

Don't worry.

I won't be tricked by them in any way.  ;)

They can guarantee 0 fees if they wanted simply by going in the hole until they make more efficient miners. They could have already calculated cost of electricity into their purchases such as the hashlet prime maybe only costing them $10 to make with an estimated $30 of electricity for the next 10 years and then $10 for their profit margin or something else to that extent. Meaning that right now the whole hosting fee could just a bonus revenue for them.

Is this a typo? $.08/day per MH = $80/day/GH = $80,000/day/terrahash.

What did I miss?

The $0.08 is for their scrypt miners. For Bitcoin miners its $0.01 per 5 GH SHA-256

I have a question for those of you who shout "ponzi". Are you negative towards cloud mining as a whole or just GAW?
It's true they don't want to reveal the details of their operation, which makes them look shady, but there's this one thing that makes you wonder...

They earned over a million bucks from Vaultbreaker preorders and probably even more as Gridseed and Zeus resellers. If they wanted to scam people why not just take those millions and bail? Why hire more staff, buy btc.com, build facilities and offices?

I was also looking what is the way to buy hashlets.
1. You need a acc in Zencloud through friend(invite a friend)
2. Send some btc to Zenacc
3. Buy on the new Hash Market

Hash  Market its cheaper as Gawminers or any Resellers.

Possibly both.  Their promises are mostly illogical or worded in a very shady way.  Also the entire premise of cloud mining is pretty much against the very core of what is bitcoin.  Distributed consensus and trustless transactions.
Also buying flashy things with little apparent business purpose is a good sign of a scam.
BTW weren't vaultbreakers supposed to ship before titans?

Their business model is one thing, but you have to agree they haven't scammed anybody yet, and they've been operating for how long? 6 months? I wasn't even on the forum back then.
They gave people who ordered vaultbreakers free hash in the cloud weeks before the titans shipped, so they delivered in a way.
Also, I wouldn't call a data center and a domain a flashy thing with little purpose. IMO a scammer would not invest at all, just send a few miners to get positive feedback, launch a big preorder event and run with the money.

a  minus to all this is the GAW customer support that sucks!!

I have a hashlet and waiting to make ROI still paying but not convinsed to purchase more

Woot because not having scammed someone yet in all of of 6 months is the surest sign of not scamming one in the future.  You are trading an irreversible payment for a reversible promise.  The longer the time frame of that reversible promise the higher the chance it will end up being broken.  For good examples see every single asic manufacture to date but hey gaw will be different. 
The bigger the data center the larger the fixed expenses are and that needs to be earned back.  At a certain point it will be more profitable to screw the customers then to continue operating.  At that point your hope is that people will be honest and work for free instead of going BK.  Good luck with that.

For me personally, any question regarding mining starts with "I am tempted to..."
Simply because I love the technology and idea of creating money at home. :)

Thinking rationally about it, the answer is always, unequivocally: no, I shouldn't.
Maybe the same applies to you?  ;)

A few things I'd like to address here:


Not completely true, because you can pay with a credit card, so the transaction is reversible.
So how long do they have to run without scamming anyone to earn your trust?


I agree, support is their weakest link right now. The tickets are being answered it just takes a bit too long.

There are some pictures in these threads.
https://hashtalk.org/topic/6512/another-new-hahslet-home
https://bitcointalk.org/index.php?topic=720844.msg8452780#msg8452780

I've made over 1600 posts on the forum and if you look closely you'll see that not even 20% is about GAW.

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

Maybe you should be more patient? Because I heard they are working on smoothing things out now and whole customer service will be a lot better. So why you want to resign when the ROI is really good? Armor yourself with little patience and have some faith. GAW will deliver, they always do.

Well you have to be patient for you to get your ROI, just because you're not returning doesn't mea you can get a refund, you should roi in time, if you don't you should make close to it, you can always sell it on the hash market too.

I've got 15mh too,I withdrew my BTC a few days ago,it was only .04 BTC but went smoothly,no issues & on the first try,you sure you did it correctly ???

Not sure how you could screw it up,but you never know  :D

I figure 3 months at least for ROI,maybe longer if the network grows faster than I calculated.........which I've been wrong before  ::)

BTW,the Zens look to be the most consistant high payout,waffle is up ATM,but it may not last  ;)

My main worry is,if they go under,all investments are lost.Hope they stick around for 3 more months at least  :D

Hi if there is anything I can do to help, I will. Can you please send me your order number and ticket number, if you have one. I will contact our Customer Service Manager and we will work with you to find a happy solution.

Sincerely,
Amber
amber@gawminers.com

I did a withdrawal of BTC today and for the first time it worked on the first attempt. I'll go back to lurking in this OP. All is good for now.

So that is $2/day/THS operating expense.
Up front cost looks like $895/THS. This will produce roughly 1.9 BTC by Sept 2016 and then essentially flatlines at 10% difficulty increases. It goes negative on operating expense after producing 1.4 BTC. This assumes BTC makes it back to $500. At $400 it goes negative on operating cost by Feb 2015 after producing 1.3 BTC.

At BTC less than $400 - you should spend the fiat on BTC rather than buying hashlets. In fact, if GAW was confident difficulty increases do not plummet, they can buy the BTC and pay it out over the productive life of the hashing power. They will pay out less BTC than the amount purchased and get $2/day/THS from the credulous customer.

I don't see any scenario in which one of these going into production today is better than just buying the BTC. BTC needs to recover to over $500 before the analysis even becomes plausible. I don't know what they are guaranteeing, but low BTC price today means people should buy BTC rather than buy new hashing power.

I think GAW promised they would never go negative on operating costs. So lets assume BTC eventually stays at $400 during the productive live of this hashing power. That means the hashing power produces that same 1.9 BTC before flatlining. You will have paid them $290 in operating cost. Today, if you can buy BTC @ $400, you get 2.2 guaranteed and no operating cost payout. Note, if BTC price increases during the productive life, you end up paying more in operating cost.

So lets assume average difficulty increase drops all the way to 8% (unlikely, but possible), then you end up paying $360 in operating costs before GAW zeroes them out but now will produce 2.3 BTC.

So right now $400 BTC price, you have to assume difficulty increases drop below 8% just to get more BTC from the mining than from  just buying BTC.

This is a great deal for GAW.

Fucking hell, why couldn't you post this earlier.  I bought a 50GH/s hashlet just to test out the waters,

Why did u buy genesis instead of zen hashlets.... zen hashlets are the most profitable ones.

Sorry. I couldn't because I did not understand the operational cost model before today.  :-\
I think this analysis will be true for all cloud mining operations. Today's mining economy was based on $600 BTC to have the possibility of breaking even. At $400 BTC, all of those schemes fall apart because there is absolutely no ambiguity - buy BTC instead of hashing power.

I also have the same problem makes me wonder.

Just testing the waters, I will probably sell it on the hash market before I return to make a return or a small profit.

Do you still have this problem? I've seen some users say that that withdrawal system has improved.
You get rewarded for keeping the coins with them, so it's not that bad ;)

Well good luck then, AFAIK you cant sell primes on the hash market yet.

I have Genesis hashlets so it's fine.

@EvilPanda

What are hashpoints and how do they work?

i bought war machine for 2.6 btc in july (54 MH)
got free month of hosting and i have converted it into hashlet prime

it hashes now 58MH/s

it has mined after fees 2.3 btc

so i am at 0.3 btc loss now :)

but...

i still have 58MH/sec as hashlet prime + bonus 1.3 MH/s prime
so total 60MH/s (valued at 3000$ now ~ 8 BTC)

every day i can boost them into 120MH/s (adding second pool)

i got about 0.04-0.05 btc per day after fees
so i will have roi in 6 days :)

and will have 120MH/s for free :) hashing a lot of btc every day
it can feed me till end of cloud.zenminer.com :)

has anyone better story ? :)

Check this out:

https://hashtalk.org/HashPointsFAQ

and did you know that some VPN's don't log?

Damn, what was the bonus prime for?

Thanks, that helped.

LMFAO

With GAW Buyback @ 40%, and a real market place, you get value for your money.

Even if you sell after 1 month, there is a market with supply/demand. No other company offers that...

Still LTCgear is better.

I got some money with Genesis (ROI 110 days) and Hashnest (ROI 3 years?). However hashnest has a marketplace, hope it will come alive...

GAW buyback is 80% and you can sell it in the Hash Market for more if you want.

Don't listen to those who says GAWminers suck, usually they have not even tried their products.

I did it, I'm happy, money is flowing, take a chance !

And I have proof on my blog with payout screenshot daily that SHOW that is rentable.

GAWMinersaffiliate.blogspot.ca

Haters gonna hate ;)