i never had any gaw stuff. i actually could not believe people went for that stuff (i did check it out).
...
I can believe it. The psychology is textbook. I bought in on the original hashlets for something like $5.99 each, as did suchmoon and a lot of other early adopters. Some of us were spending coin from mining that didn't really feel like real money anyway. suchmoon was skeptical of the unbelievable payouts from the start and hence this thread. He seemed to keep buying but I have the feeling he was doing it for the lolz (or maybe science). I was initially open minded and bought more but once I could no longer ignore the smell I got out with my ill-gotten gains. The psychology! It was $16 I think and I bought it once, about 1 BTC worth IIRC. I was doing profitability comparison between various forms of mining (Scrypt GPU/ASIC, X11 etc) and tried to look into cloud mining as well but the numbers were so far off reality that it raised a lot of questions, which made Garza very very unhappy. Actually most of the questions started even before hashlets - e.g. how GAW's notorious technical ineptitude suddenly turned into Zencloud's 100% uptime etc. Original thread here, down at the bottom of the OP is the original content: https://bitcointalk.org/index.php?topic=720844So, science it was than ;-) I remember your mining profitability tracking website, it was unique at the time and useful. |
|
|
|
i never had any gaw stuff. i actually could not believe people went for that stuff (i did check it out).
...
I can believe it. The psychology is textbook. I bought in on the original hashlets for something like $5.99 each, as did suchmoon and a lot of other early adopters. Some of us were spending coin from mining that didn't really feel like real money anyway. suchmoon was skeptical of the unbelievable payouts from the start and hence this thread. He seemed to keep buying but I have the feeling he was doing it for the lolz (or maybe science). I was initially open minded and bought more but once I could no longer ignore the smell I got out with my ill-gotten gains. The psychology! |
|
|
|
Hanlon's razor says Never attribute to malice that which can be adequately explained by stupidity.What can you say about stupid and incompetent malice and criminality?  Except "way to go homer" |
|
|
|
You can't "make" something someone else does a scam. Either you're lying or you're not. He's pissed because the predictions he pawned as fact didn't come true, and he's blind to the fact that it's because of his own failings.
Hanlon's razor ? Hanlon's in the face of 1800+ pages of additional evidence? |
|
|
|
Josh gonna get raped by some rekt prisoners in the future. Lets micro tip to the Rape Josh Garza Fund.
I'm not sure why so many people have this homo erotic fixation when they think of prison. White collar criminals don't usually get locked up with anyone nastier than shower room towel snappers. |
|
|
|
I suggest you check the exchanges. The XPY story is nowhere near over. Millions of $ to go, unless the pump/dump process all the way down to 1 Satoshi is interrupted by the Gubment or investors/lawyers. That is a heck of a lot of people who are going to get hurt by this scam still. If you are satisfied that this story is over you are not required to click this thread. Problem solved.
Point taken. I guess that means I'll have to wait a few more months for Suchmoons fat lady meme |
|
|
|
So is this almost the end game for GAW?
GAW isn't likely to launch a new Cryptocurrency related product that will go anyplace. So, I don't see any source of funds to continue the story. This thread has served it purpose by now and is starting to look like a Mexican comic book, which underlines the point; Even the illiterate can see it's over. All we need is for suchmoon to come to come back and post one of those fake meme picture of a fat lady singing and we can all move on.  |
|
|
|
I expected more from Ars Technica , I can't believe I'm going to say this but CCN usually has more bite than this article, there's no depth to it, only a bunch of quotes. I did forget about the 10 000 to 15 000 customers per day quote, made me laugh. Let's keep in mind that there are approx 6500 XPY addresses and most people have multiple addresses to simply transfer money between exchanges (deposit addresses). What happened to the 100,000 customer claim? 94,000++ thousand of them let their Hashlet go down to 1 satoshi and didn't say a word? Right I think this was just a hasty article thrown together around a pointer to the coinfire piece. I got a kick out of the body guard quote. The conference organizer gets stopped by a private BG inside a party. Priceless. |
|
|
|
And... http://arstechnica.com/tech-policy/2015/01/bitcoin-startup-gaw-miners-reportedly-under-sec-investigation/“We publicly stated that we offered Josh Garza an opportunity to speak, and for attendees to have an opportunity to respond,” Levin told Ars, adding that although he didn’t speak, Garza was at the conference. “He was at a bottle service table at The Clevelander [Hotel] at the kickoff party," he said. "We talked briefly and I welcomed him to the conference. He was surrounded by bodyguards—two or three large bodyguards that were blocking anyone from coming near him. I approached him to welcome him and his guards stopped me, until Josh said I was ok. |
|
|
|
cut
That has nothing to do with this thread, but I heard $150 estimated by someone before for electricity costs per bitcoin mined. Obviously it depends on local electricity costs and type of ASIC used. There seems to be a $200 floor for now. |
|
|
|
|
The fun is about over don't you think? Just use ignore and please don't quote the troll.
Thank you.
|
|
|
|
|
Most likely, the majority of the victims of this scam don't read bitcointalk or Ars Technica.
|
|
|
|
|
The question you should ask is: What is GAW's principle source of income?
Hashlets, paycoins, stakers, and all the outer recent products are nothing more than pictures on a web page and entries in a database or blockchain. GAW makes a large income promoting and selling intangible objects as investments. There is no evidence of any other income large enough to pay the dividends on all these investments.
So, for every winner crowing about unbelievable returns there must be losers still hoping for returns that will never come.
That's a scam.
|
|
|
|
[...
- Matthew 7:5.
That's great! "You hypocrite, first take the plank out of your..." Right on brother!! |
|
|
|
That's not really what's happening. My script is scraping the website, sending thousands of requests, so to a website operator it looks like a ddos attack. It may even have been cloudflare blocking the ip automatically. If he was blocking archiving, they would just block incoming requests from archive.today, which probably uses multiple IP addresses. tl;dr They are blocking my scraping of the site, not the archiving. You can see all archived urls at https://archive.today/https://hashtalk.org/* (notice how many are from the last hour? That's a script for you.) Run them through a caching web-proxy. Apache/squid/etc on client-side, Opera's stuff on the server-side. And maybe add some short pauses to slow down the requests. DDOS speed is not a good idea, although you probably don't have the band width to bother a real website. Do you? |
|
|
|
If anyone has any spare SHA256 rigs and doesn't think PayCoin is worth the risk you can still take advantage of it. Point your rigs at one of the rental sites - NiceHash/WestHash (easiest), Betarigs, or MiningRigRentals. Prices are booming.
WooHoo I'm plugging in my Block Erupter again. ROI hare I come. Hey CoinGeek, I have a Block Erupter but I dont know how to set it up to mine on anything other than BTCGuild. Can you help? I'd like to run it on PayCoin. I just pointed it at westhash which is renting it out. I don't think we would have much luck solo mining much of anything. |
|
|
|
If anyone has any spare SHA256 rigs and doesn't think PayCoin is worth the risk you can still take advantage of it. Point your rigs at one of the rental sites - NiceHash/WestHash (easiest), Betarigs, or MiningRigRentals. Prices are booming.
WooHoo I'm plugging in my Block Erupter again. ROI hare I come. Too late. The good stuff only lasted for maybe an hour. Put those BEs back in the drawer Sorry, take them back out, quick. NiceHash on the rise. Paycoin pool alive. All blocks gone though http://pool.paycoin.com/tbsEdit: wallet is still stuck on 277, not sure if the pool is working either, no blocks so far. WTF is going on. I did get a few shares at .0269 BTC/TH/Day on westhash. Made more than I make in a week with my Multihashlet! |
|
|
|
If anyone has any spare SHA256 rigs and doesn't think PayCoin is worth the risk you can still take advantage of it. Point your rigs at one of the rental sites - NiceHash/WestHash (easiest), Betarigs, or MiningRigRentals. Prices are booming.
WooHoo I'm plugging in my Block Erupter again. ROI hare I come. |
|
|
|
This well stated history is worth bumping. My takeaway is that the the next step always looks more attractive that the last one turned out to be. If you're trapped on the treadmill keep an eye open for the exit I say (like $50 primes maybe?) The Problem I see with GAW right now(and yes I am sure there are more) is they Keep pushing out the Conversion from HP to Paycoin. Its like someone stated before its like the state farm commercial. I got a dollar for you. With the dollar hanging off the end of the fish hook. How blind do you have to be to see the hook keeps going out more and more.
That is only the most recent "tip of the iceburg". I have been with GAW since almost the beginning the the pattern is pretty darn black and white by now... (1) It started with hosted miners, sold by GAW and hosted for "free" (included in price for one mont to one year when purchased through GAW). GAW promised many features to the hosting that never materialized. Power outages and network problems mean lots of down time or partially working miners (which, in fairness, Josh provided compensation for in the form of store credits for me at least). No features ever materialized. Lots of problems with various pools (compatibility). (2) GAW started zencloud as an upgrade to their hosted miner solution. They claimed to have a new datacenter where all the power problems would be solved, and new software with all the bells and whistles (to come). Pools on zencloud were limited but were promised to open up. Josh offered to switch me over for "free" to the new "beta" platform. Miraculously, transferring a hosted miner from the old crummy data center to the new Zencloud datacenter took only minutes. Must have some fast runners over there. (3) Shortly thereafter, Josh announced hashlets. Originally marketed as the next evolution of mining. All owners of hosted miners were offered the opportunity to "upgrade" to hashlet mining. Oh, and new features promised for Zencloud hosted mining? Forget it. Pool choice narrowed and development (if it was ever in development at all) stopped. Upgrading hosted miners from Zencloud to hashlets was virtually compelled if you wanted to make any money and use the new "zenpool" which at the time was returning 2-4x what LTC mining was returning. That lasted for only 2-3 weeks at which point zenpool become the same crap as other pools, but by then most folks had "upgraded" from hosting to Primes. (4) After "upgrading" from hosted miners to hashlets, Josh started to come clean that, in fact, unlike with the alleged hosted miners, mining on hashlet via the listed pools did not result in any actual mining on those pools. Instead, profits from from other activities like coin ICOs and renting of servers. (5) After Zenpool tanked after only a few weeks, and Josh's promise to bring profits back to mining on Zenpool failed to materialize, we suddenly have the annoucement of Hashbase and Hashcoin aka Paycoin. And, as predicable as the sun rising, Josh offered a new scheme to bring back profitability: mining Hashpoints which will convert into Paycoins. Viola, and now we are completely off mining since hashpoints are nothing other than loyalty points. (6) Now, as you point out, owners are forced to "upgrade" to Hashstakers and to use their loyalty program points (aka Hashpoints) to buy Paycoins to "stake" for 3-6 months while Josh works out his next plan. Good luck to all of the poor folk who have fallen for this. I have whiplash now from just remembering all the twists and turns. |
|
|
|
|
Show Posts
