Bitcoin Forum

http://www.btcfeed.net/uncategorized/garza-shuts-zenminer-mining-services-notice/

huge news.  Lots of money lost by lots of people

20bucks a shitcoin!!!!

I feel bad for all the people that got wrapped up in this :(

Read stories of some people that sunk significant monies into XPY, only to lose most everything :(

Very sad.

I did a series of threads about them and I bailed out of them 90  days or so ago basically the  rule changes were endless.  A bad sign.

july 17th start
https://bitcointalk.org/index.php?topic=698679.0;all
aug 17th 2nd thread
https://bitcointalk.org/index.php?topic=743152.0

sept 20th thread
https://bitcointalk.org/index.php?topic=790207.0;all

I was fully done with them OCT 20th.  I only had the :

1)gifted fury = 2)converted to a prime = 3)converted to a hashstaker on hand when this crashed.

I knew there was a problem when I stumbled on the westhash--nicehash problem they caused to their company  totally their cause not west-nice hash's fault .
I pointed it out and oh did that make a shitstorm.

I got in for the grand total of about $60 back in late August, with my purchase of 3 of whatever the hashlet was they were selling at the outset. I mined some small amount of Bitcoin above the maint fees, but realized most of actual appreciation was based on the conversion of my "whatever hashlet" in to a Prime one. I got completely lost in the proliferation of the various hashlets during September, and just let things chug along. I never really understood how they could sustain this model of mining Litecoin and then converting those to Bitcoin to pay me. During October I realized that all my value was actually based on the inflated value of the Prime hashlets, I sold those off during October and probably made a net of $125 directly on the sale of those. When they started to press forward with the Paycoin adventure, I shipped off my Bitcoin sitting there and let my single "gift hashlet" go along. I have no idea what it finally did over the last 60-90 days.

The early days they must have been making money hand over fist selling "Hashlet Primes" at $50 per. I don't know if it was a Ponzi scheme, or just a failed adventure. I do know that not everyone loses money in a Ponzi scheme, just those left at the end.

I have a free hashlet there when I first registered and was unable to withdraw earning and it was completely gone last week. I thought they removed the hashlet because it was a free gift. Now I know they have completely shut down. Sorry to hear people lost monet there.

here is a looser , guys  :'(

i only 3 USD there, but money is money.

i have to go back to PTC business to get back this lost investment

Wow this is a huge blow to Garza and his crap altcoin. Replace bitcoin keep dreaming. So glad I got out when  I heard the warped plan before this coin came out

it pays to listen to your gut sometimes.
I managed to sell my Prime hashlet a few weeks back with a net profit of 5 btc and did a withdraw.
case closed.
RIP zenminer.

its amazing how optimistic a lot of people over at HT still are. Bunch of suckers

This just in - Known scammer scams more people. Shocker.

Delusional. They've lost a LOT of $. I can't blame some of them holding on for dear life. sad but true.

yeah  I am in NJ and I have a friend in south Jersey I told  him sell sell sell sell back in DEC last year.  this guy Josh is like Bernie Madoff.  I have not heard from my buddy since early dec.  I hope he sold some of it.

I explained to him that there are tax issues with paycoin.  When paycoin was issued and had some value  it was 4-8 bucks.  So if you had got in early you could be at a cost basis of 2 bucks.  so:
 2 x 1000 = 2000  was his cost to get the 1000 coins
6 x  1000 = 6000  was what they were worth when he got them.

 profit = 4000.   this was his profit  the day he could have sold them off.

 if you are usa based  the feds say in 2014 you made 4k pay us the tax.  they don't give a shit it bombed out in 2015 for 2014 you owe tax.  the 2015 result is a year later.

So if you had 1000 paycoins and held them you will now pay about 1000 taxes on them with the 2014 return.


So his initial investment of 2k and a tax bill of 1k  and those coins are now worth  41 cents or 410 usd.  he will have lost 2600

i made a withdrawal after the published news and it arrived on 1st of february.

Happy february for everyone. ;D

 i just loose 2 USD :-(

Didn't invest anything! just offered my small farm for rent and i'm happy with it, got in a bit late ~tuesday, but still very good!

Even if paycoin is still being given out the value of it is dropping like a rock harder than bitcoin is. I think finally most people besides the extreme fanboys finally see GAW for what it is.

it is the same with any ALTcoin...

Seriously? Do you even live in the usa and pay taxes?  ???