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@jimmothy
He was right in this part: he's very selective with his responses and ignores most things people are telling him in his thread
You acted like nothing is ignored, yet in the same post you ignored the most important part:
So, GAW is using their miners as very expensive heaters, and they even bought more recently because the winter is coming Wink
You solved the great mystery, good job!
He was right in this part: he's very selective with his responses and ignores most things people are telling him in his thread
You acted like nothing is ignored, yet in the same post you ignored the most important part:
So, GAW is using their miners as very expensive heaters, and they even bought more recently because the winter is coming Wink
You solved the great mystery, good job!
I only ignored that one comment because I really don't understand the point.
I think you are trying to imply that because they have pics of some miners, they must not be a ponzi which is an incredibly flawed argument. It's clear that they do have SOME hardware, just how much is completely unknown.
Again, if they actually have 100% of the hashrate they've sold, there is no reason to not prove it with a mining address.
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This whole discussion has gone off topic, the question was if hashlets are worth it. If you want to make GAW submit proof of mining, you have to contact them.[/i]
I would say a companies trustworthiness and likelihood of being a ponzi is an important factor when deciding if the "investment" is worth it.
Here's the SEC's advice of how to spot a ponzi scheme:
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What are some Ponzi scheme "red flags"?
Many Ponzi schemes share common characteristics. Look for these warning signs:
High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity.
Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.
Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances.
Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.
Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.
Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.
Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over.
http://www.sec.gov/answers/ponzi.htm
Many Ponzi schemes share common characteristics. Look for these warning signs:
High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity.
Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.
Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances.
Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.
Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.
Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.
Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over.
http://www.sec.gov/answers/ponzi.htm
Impressive that this totally legit company manages to trigger 6/7 of the SEC's warning signs of a ponzi.
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And some of your questions are ridiculous like "why did they create their own forum?" And why did KNC start their own forum? You're really grasping straws here.
It's not ridiculous at all. KNC/BFL/GAW created their forum for the same reason any other company with something to hide did.
This discussion should have made you realize exactly why GAW created their own forum, because if this was taking place on hashtalk I would have been banned after the first post.
Just look at how well censorship/astroturfing is working for GAW. Hundreds of complaints/criticisms/ponzi accusations on this forum, yet you cannot find a single negative comment on their own forum.
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As for the second part, they have a proof of having the miners, and a lot of them. So what do you think they are doing with all this hardware if not mining? IMO they simply don't want to reveal what is being mined and where, and it's their choice, just as your choice is to calculate the risk and decide if the whole thing is worth investing.
They have pics of miners and obviously there is nothing else a miner can do but mine.
What you are missing or intentionally ignoring is the fact that anyone can buy/host a few dozen miners and claim they have a multi-MW mining operation. Even if they have hundreds of miners, that may only be enough to cover 1/4th of the hashrate they are selling. (like a fractional reserve)
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No amount of complaining and repeating the same bullshit on the forum will help in this case.
Not true at all. If you GAW fanatics would quit being such gullible pushovers, GAW would have proven they were mining within days of launch. (assuming it's not a ponzi)
It's clear that you (just like bitgeek) spend 100% of your free time championing GAW.
So instead of wasting constant hours of your life defending GAW, why don't you just ask GAW to prove they are not a ponzi with a simple copy/paste of a mining address?
Think about all the button clicking and arbitrary games you will be able to play with the hours you will be saving.
You got the nerve!
