Bitcoin Forum

I have a 1 MH/s hashlet.  I purchased it yesterday around 4pm EST.

Theres something wrong with the hashlet miner -- The URL https://www.zenminer.com/pool/ says: 0.00065924 Avg 24 Hour Payout, (BTC/day per MH/s).
My miner inidicates 0.00065923 as an average payout for zenpool.

When I FIRST set up my miner it had 0.00006xxxx as a payout.  I decided to ask a question in the chat box and find out if this was per BTC mined.. IT is WAY too low to be per 24/hr.  Nevertheless, I received NO reply concerning that number, but MAGICALLY the number changed to 0.00065923.  That's about 10x what it first said.  Umm??? This number should be INFLEXIBLE in that way.  It's a solid number that changes consistently as averages are computed.  The capability of making it 10 times higher is purely in whatever bullshit random algorithm that have "lying" to us.

This morning, I checked my account and I received 0.00006761 BTC. This is approx 1/10th the payout as indicated by two sources on the website. I am starting to think that hashlet mining is a complete scam. With the lack of flexibility and the sketchiness of the payouts, this has to be bullshit.

The ONLY way that this would be possible is if this is a pro-rated payout.  However I find it very unlikely at this point.

Here's the f'ing kicker:

IF all of a sudden things are repaired and I start getting the payouts as indicated... Then CLEARLY someone is manipulating the results except for the possibility of the first payout being prorated.  I find it hard to believe given how the zenpool's average payout was incorrect, then corrected.  The payouts are incorrect, and will be corrected too.  The payouts shouldn't be a flexible number like that.  There needs to be SOURCE information. There needs to be CHOICE of mining pool outside of their limits.  They use the excuse that to guarantee 99% up time, only those "special" pools may be used.  BULLSHIT.  

I signed up for the hashlet to mine and KEEP alt coins.  NOT to mine altcoins that are magically turned into bitcoins without any choice at all.  WTF?  I want to get ALT coins.  I DONT want BTC from this miner.


I WANT MY F'ing money back from them.  I'm completely calling this a scam.  100% scam!!!

Maybe you should have done your homework before you made any purchases.

Your Hashlet didn't mine for a full 24 hours so you received a prorated payout.  This is stated all over their forums and all you had to do was ask instead of coming here complaining of a scam and bitching.

If you had also read the forums, you would have seen that yes, the coins are converted into BTC.  Coming soon will be the ability to mine certain algorithms and have the payout in various coins.

Since this is your first post here it could be taken that you are having buyer's remorse.  Post on their forums and I'm sure someone will gladly buy your Hashlet from you.

You can get Altcoins. Simply use the BTC payout and buy Altcoins with it.


I´m happy with BTC payout, it´s the GOLD of crypto :)

My hashletts that you say are such scams are happily hasing away at 2x what clevermining, wafflepool, hashnow, etc are paying.

I purchased 3 sets, got the code within 5 minutes and they began hashing as soon as I put the code in.

AS OF RIGHT NOW Hashletts are 2x as profitable as ANY other scrypt mining pool/unit.

-wgs

Another thread made from a new account on the same day? You should really take a break Mr. Troll.
First one was by this guy (newbie with ~5 posts) but he deleted some of his shit after he was asked for a proof. Most likely these 2 accounts are owned by the same person.
https://bitcointalk.org/index.php?action=profile;u=361014

If he's not a troll, I pity him. We always warn newbies to do their homework before investing in anything, in Bitcoin or in mining, but they just won't listen. Now they won't use common sense.
However, when I was ordering a Hashlet with Bitcoin, I wasn't told how to pay, and I had to submit a support ticket. I was told to send btc to an address and take screenshots for the transaction, which I find very suspicious.

Just saw this on hashtalk, looks like the CEO wants to answer questions and offers to post pictures of the data center.
Maybe you should ask about the payment method there?

https://hashtalk.org/t/data-center-pictures/6448/7

I wasn't going to reply cause you will just delete your post, and create a new account over and over. But oh well...

Lets see.. Newly created account. One post.. I can see your on a mission.. Simply put you have no credibility.

enough said.

I have a Hashlet and it's been working great for me. Also, I highly doubt that GAWMiners would try and scam people like this - they're a massive company and very trustworthy.

thanks for the boost.. and your comment is very helpful.

you are a very silly man.

Think: they make 1 payout per day. If there are only a couple of hours left before the payout when your hashlets become active, you will only be shown about 1/10 of the profit the mine rwould make after a full 24 hour cycle. When you check tomorrow, after the miner has run for a full 24-cycle, the true profit predicition will be shown, and that is considerably higher than anywhere else at the moment.

So quit calling people scammers, use your brain and get some manners.

Why people bother check the forum status :) "Newbie" :)

Thanks for make me laugh, Im really need it ;D
You should learn about any products/services before you buy/use it.
And you make it worse by calling zenminer as scam.

My problem is their maintenance cost of 8 cents per MH. Right now at CleverMining 1MH/s would give you 0.00033 BTC which is now 15.2 cents. Therefore you would be paying about 53% of your earnings in maintenance, I think that is high.

For me, it's just a little bit higher than what I would be paying for power. I'd rather have the hashlet, than have to deal with the heat, noise, etc of a physical unit. They're probably using current generation miners for the Hashlets, which aren't the most efficient either.

I ran some figures with this calculator.

https://bitcoinwisdom.com/litecoin/calculator

For the inputs, I have

5% difficulty increment
Electricity price 0
Pool Fee 0

Hash Rate 100 MH/s
Hardware Price 1599
Hardware Power 0
Start Date 1
Deliver Cost 0
Setup Cost 0
Maintain Cost $240 (100 x $0.08 x 30)

Doesn't look good at all.
About 1.5 months before you start paying more on maintenance cost.

I am aware that in a datacentre there is greater scalability so it is probably still cheaper for them to run it on their economies of scale. But, it still doesn't solve the ROI problem. For a start, the pricing should reflect scaling cost cutting benefits as you increase hash rate.

If you buy more you should save more right?

Virtualisation of things is actually a massive cost cutter and any one who runs a datacentre should know that, but these prices don't seem to cut much cost if any at all.

The problem with miners (and i'm none the wiser) is that we all want an idea of a fixed income and we think that mining will give us that. With a bull market there is a fairly even chance of ROI and thats assuming the price of LTC soars back to near previous heights. Right now, if you buy a hashlet you are chasing your money back for the next few months (if you ever get there) and you lose out on market swings.

Imagine if you bought 1599 USD of LTC instead of 100 MH/s of Hashlet.

You can at any point sell any portion or all of your LTC, you can day trade on market swings, and you have the security of having the coins now.

The mindset of mining this same amount worth of LTC and then some more is having it all trickle in slowly, and in a bear market meaning almost making a loss.

I don't agree that Hashlets or GAW are a scam. They are proven to deliver their products. They have excellent history even beyond the crypto mining business.

But lets face it, the hedge is this: GAW know that most people will be optimistic about miners because they are profitable (just about) on today's difficulty and price. (some aren't even that..) The calculations will be way off, and most people will be left with something completely useless and maybe just about ROI or far from it. If today, LTC was soaring to near its previous high and even higher, then yeah, mining would be reasonable.  Right now though, i don't see how any one justifies mining.

fudd your assuming though that they are mining ltc which i doubt it. if they have such high profitability why would they share their secret. they are better off just having users fund their project blindly. they have a proven track record so there is no need to be so transparent

http://i345.photobucket.com/albums/p394/spoolingpoppcorn/troll-o-meter.jpg

He made a new account wrote 1 troll post and disappeared. Move on.

At the payout rate, mining whatever it is they're mining still only pays out for just another month on top of the calculation I made.

Not only this, you cannot deny that buying btc or ltc straight up will give you more "ROI" in the same time it takes for you to reach ROI with the hashlet.

Really doubt they are trying to scam anyone...cloud mining NEVER makes a profit or why would they not just self mine?  If you think that buying cloud miners is a profitable way to mine you better learn to do math first.

already have lol    when ya paying 35 cent a k/w for power where i am it make more sense for me to cloud mine   ps you may want to do some simple maths lol    as atm this thing on target for a 55 -65 day roi

ps i will do it for ya a war machine at 50 mh uses 1800 watts at the cost of 750      vs hashlet 50 mh at 799

now off to coinwarz we go running the war machine at 10 cent per k/w it cost me $4.32 for electricity a day

now to the cloud at .08 per mh that 4 dollars  a day

now to get to 4 dollars to match the hashlet you need to be at .093 cent a k/w on that front  there not many places in the world that have power costs at this price most are well above it    

now to the price diff of 49   that easily made up as the pool at zencloud   (zenpool)   basically is 35-45 percent higher paying  than most other pools eg multipool nice hash etc

maybe it about time the knockers did some real maths and after doing the real maths I am picking a few will join us over on gaw hashlet as their next hardware option...  


to the another side they are looking at multi aglo it soon so when all these new alts come out that prices go stupid on profit wise guess what zen will be doing mining it to make a killing of the traders that do not know simple maths and set prices on new alt well above the btc profit wise alot of the time

There's a thread where people post their electricity prices and the differences around the world are quite big.
Just take a look:

http://oilprice.com/uploads/AB579.png

 If you have it free or very cheap you're better off mining at home, otherwise hashlet will probably be more profitable.

I guess Hashlet is about operational efficiency both for GAW and customers. GAW may choose whichever machines they want, pocket volumen discount and offer reasonable price. Why they offer cloud mining instead od doing mining for their own account?  Well, they are reseller ofmining equipment. This is their focus. Why they offer Zenpool to The customers? Because they make more money reselling mining equipment than.   they would by charging 2% of mining fee like multipools. I may be wrong but to me GAW sounds like well managed company knowing what they are doingand what they are good at.

ive made hashlets review with full GUI testing - http://fuk.io/gawminers-zencloud-hashlets-review-and-setup-guide-best-cloud-mining-scrypt-system-to-up-the-date/
excuse my English ;)

I am extremely happy with my Hashlet purchases as well   ;D

I am going to bump this thread and say this to the knockers.....    The ones of us that sat there and done the maths etc and read close are about to pick up the cheapest SHA miner ever to hit the market as the $16 we spend per MH on the leap of faith is known as a PRIME HASHLET  now these hashlets from the 12th will be able to mine both sha and scrypt   now the 1mh is worth 40gh on the sha aglo    so if you grabbed 25 mh back when they 1st hit the market you have basically brought a 1th sha miner for around 400 dollars there NO COMPANY OUT THERE THAN EVEN IS CLOSE TO THAT and guess what my hashlets are about a week off ROI so was the best invested I have never made in mining gear....


Ps more here re the multi aglo upgrade straight out of the horses mouth gaw ceo hate to be a knocker or calling them scammers when alot have seen the results 1st hand that I have here and would be close to ROI even before the multi aglo part kicks in on them which speeds the roi up if ya smart on it

 https://hashtalk.org/topic/3906/prime-sha-hashlets

Well, at the risk of being called a troll (anyone who has anything remotely negative to say about GAW seems to be called as such) I'm going to post this anyways.
I recently purchased a handful of genesis hashlets, and during the process wondered "what's stopping GAW from removing any of the pools? Or what happens if a pool like waffle pool disappears? How will they deal with those hashlets which are guaranteed a rate off said pool?". Well lo and behold not 48 hours after my purchase they've removed the only profitable SHA256 pool rate from the genesis. My estimated ROI date, which was part of my purchasing decision has now nearly doubled. I only have myself to blame though. Really.

First of all if you really bought them recently, message them about a refund. That's how they are dealing with it.
The pool was removed because people were playing the system.
There's one peoson with at least 3 sockpuppet newbie accounts that is trolling in the GAW threads. To be called a troll you have to act like one.

I wasn't contacted by GAW stating anything about a refund, and frankly if they're putting that information somewhere on a forum, it isn't the right place. Not everyone has hours a day to scour forums. So if they're offering refunds, a message on the Zenportal, (which is where I was notified of the pool removed) or an email are the only appropriate forms of communication for such a matter. But thanks for letting me know, I'll submit a support ticket requesting more information.

My last refund with GAW took almost 3 months! While I can appreciate receiving the refund in the end, I still paid interest, and they still had my money during that time. So let's hope it's a bit more expedited this time.

Quite frankly, from what I've observed, it's more then a few schill accounts. GAW has aggressively censored people on forums who questioned their integrity. Didn't they abandon their bitcoin talk thread in place of moderating their own forum? I don't necessarily think they're a scam, but there's a certain koolaid that's being passed around and I'll have none of it.

I'm sure everything will go smoother this time. :)

Check out this thread for more info, if you haven't already.
https://hashtalk.org/topic/5325/payout-bug-9-11-14

They closed the thread, because people were writing off topic posts, spamming and repeating questions that have been answered.
I'm somewhere in between when it comes to moderation. The one on hashtalk is a bit too strict, while on the other hand this forum could use a bit more of it.

Hi!
I would be more than happy to follow the progress of your refund. Please email me your information and I will be happy to do so!

Thanks!
Amber
amber@gawminers.com

hey, i just bought a couple of hashlets and have been hashing for over 24 hours but not payout yet.  how often are the payouts done and how long til i get the first payout?

thanks

I really do not see hashlet's being worth anyone's time.

A couple thousands of their clients would disagree ;)

I heard someone in here that hashlet is kinda good. "kinda" good.

Hashlets to me seem a scam so far. I have 1 25mh hashlet and atm it makes 0.00825 btc a day but heres the catch they charge 0.08 cents a mh in fees which only earns me 0.00200 a day. There taking 70% of my profits in fee's. What would be fare would be 50% of my profits not 70%.

I have 2 thunder x3's doing 60 mhs per sec on the same pool I'm mining from on the hashlet that earns me 0.0265 btc a day. Even with the cost of power I'm making way more money doing the mining myself with my own miners.

So far in one week of the hashlet running 25 mhs 24/7 I have made 7 days made 0.014 btc or 4.62 dollars my Thunders made 0.1855 or 61.00 dollars minus my power costs for 24/7 for 7 days 42.00 = about 20.00 dollars

So you can say hashlets are all great and good but the math does not add up as good more like a ripoff.

GAWminers was a great company till they went to cloud. Same as Zeus they also went to cloud. Because these companies have found a way to make profits of suckers like me and you.

I got sucked in and now I'm trying to sell my miner on zencloud but I have a funny feeling it will never sell. So i will never get my ROI till 6 months later if the price of BTC goes back up to say last years price of 1100 I would have lost over 800 dollars in this investment. OUCH that would hurt.

Hard core Miners don't want cloud we want hardware. It gives the best ROI and short periods of time.

I must agree with this topic.
Yesterday I have purchased 3 different hashlets to test them.

When I entered in the site for the first time I was very dissapointed. Very poor. Lack of information. Dashboard is deactivated and it no showing any information. Hashlets seems to emulate changes on the hashrate as they are really hardware miners, but -as you know- they are virtual miners, so the hashrate must be fixed.

Well, after 24 hs I have no received any payout... nor a prorate, nor a lower payout... big zero payout !
I have submitted a ticket and I will wait for answer.

But I think all the hashlets and the site related, the mining operation, is a huge lie.
In fact, we are lending money to GAW miners, and they are borrowing money with the rate they want, for the time they want, and some day they will say that "maintenance fees" cannot be lowered and the loan will finish.

Update:

I have received an official answer to my ticket:
"Since your miners were activated yesterday you will receive your first payout on this following rounds payout tomorrow"

It means that "prorate theory" is another lie. All it is completely arbitrary there.

If you still have doubts about the volume of mining operation of them, please visit: https://blockchain.info/pools
Mmm.. there is no such "Zencloud pool" there... maybe they are as "Unknown"

Regarding dashboard... the answer says: "We are unfortunately having a problem with the dashboard reporting properly. This will be fixed as soon as possible. We appreciate your patience".

I can imagine that with "maintenance fees" thay are able to contract the best web development team to fix the dashboard ASAP.
 ;)

It´s my understanding that "ZenCloud" is virtual and not actually hashing.



If i would be GAW, i would not hashing at all.

For what? Why bother with hardware miners?

LOL Enough $$$ to pay out customers with selling overprized hashingpower, high maintenance fees, high trading fees  etc etc.


It´s no scam, just a very clever business model.

People are even mining worthless (at this point) HashPoints.

While btc and ltc are flying :D

So you bought yesterday and were told you'll get paid today, which sounds completely normal.
Cut the speculation and simply update when you get the payout (or not).


If you think they aren't hashing check this out:
https://scontent-a-lga.xx.fbcdn.net/hphotos-xpa1/t31.0-8/10521920_937768276250833_236777150447653165_o.jpg

Yes. Today I was paid, but passed 36h from my purchase, no 24h.

Regarding your beautiful picture... We are talking about cryptocurrencies! the proof is the blockchain, not pictures. If you want to prove the volume of mining operation, all you need is disclose the payment addresses so everyone can check the blockchain. I will continue speculating until that moment.

Best regards!

I agree.

But if they call "mining operation" to a simply borrowing operation with arbitrary daily installments, they are lying.
If they lie to investors about the business, it is fraud. And fraud sounds me like scam, sorry.

It is very simple to cut all this speculation, because we are talking about cryptocurrencies:
They must to show in the dashboard: the pools, blocks mined, tx id's of payments, the total volume of incomes per hash and per algo, and the resulting value for each hashlet.
Since they show nothing, i'm afraid the mining operation does not exists.
Then, if mining operation does not exists, the "maintenance fees" are the reason to take them to court.

Well I'm glad my hashlets sold I lost 73.00 because i could not sell my hashlet for what I paid for. They would not let me sell it till a week later and by the time the price of them dropped. I got back 2/3 rds of the money I spent. Luckly my real miners made the 73.00 back in 1 week to cover it.

If anyone know of any company selling the chips on a board I can make the heatsinks and cases for the boxes. I have a machine shop friend that can do any of the work and even make them water cooled.

I'm hoping that hashra will come through with there astros.

Thanks for the info. I was considering investing with them. I guess I'll be more careful now.  :)

Don't get caught up in all the madness:

http://www.reddit.com/r/Bitcoin/comments/2l7myv/can_we_talk_about_gaw/

http://www.reddit.com/r/Bitcoin/comments/2n7c9r/coinfire_publishes_article_with_details_about_gaw/

those reddit links point out a lot of stuff. I didnt have to read the entire thing, but just the brief 5 updates but people need to check those links out.

it says some disturbing factors on whats going on with gaw despite others protecting them. If they can respond to those reddit links im discussing then we have some form of transparency.

ESP update #5.

Update 5: CoinFire publishes story on possible dishonesty on the part of GAW with regards to partners, gets hacked. Thread with more information here: http://www.reddit.com/r/Bitcoin/comments/2n7c9r/coinfire_publishes_article_with_details_about_gaw/

Not long ago I saw this ( https://bitcointalk.org/index.php?topic=418183.msg9663911#msg9663911 ) thread of PB mining, full of people with different cloud signatures trying to prove it's a scam. Even the guy who made this GAW thread somehow never logged in to check it out. Was probably busy making another sockpuppet on reddit. ( http://www.reddit.com/user/redflagsforever ). If you bother to look at the profiles, half of the people in each thread are sent there to write "scam" and the rest is there to call them liars, while the readers are stuck in bitween, wasting time ;D