why the fuck would you make a DC in bangkok! where is 28 degrees Centigrade at 9AM, right now!!! WHY!!!
...
Miners don't particularly mind hot ambient, and because you're not running AC neither do you particularly. Instead of replacing the air with an infinite amount of 20C air, you're replacing it with an infinite amount of 30C air. Now why would you want that? An increase in temperature means a decrease in GH/s. Why would europeans move to a place with a hot climate and expensive electricity to start a mining operation? It's a bit strange considering they could have hosted the hardware at Verne Global for half the cost of electricity in Thailand and that includes ~30C cooler air + an actual datacenter with fire suppression/security systems. |
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I wouldn't bother with "Bitcoinbrothers", it looks like another cookie cutter scam. They claim their 16nm hardware will be ready for mass deployment in Q1 even though TSMC doesn't plan to begin mass production of 16nm until Q2. They also claim to have had 20nm hardware since April but cannot provide any pics or a mining address. Seems we're supposed to believe they spent millions developing a badass 20nm ASIC yet never sold a single machine to anyone. Here's what some germans have to say about them: One of these guys used to post on the german forum section. Completely retarded, utter nonsense. Stay away from this.
They had promised much in the past (german sub forum), delivered (afaik) zero
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All cryptocurrency investments (holding bitcoins included) are cathegorized as "high risk investments".
Massive risk? Obviously you've never traded altcoins.
But normally risk is proportionate to reward. With mining you are looking at a lifetime profit of 10-20% but could also result in a ~50% loss so already the risk/reward ratio is poor. Adding the massive risk of GAW being a ponzi makes the risk/reward ratio about as poor as it can get. With hashlets, the risk/reward is basically like flipping a coin, heads you win $5, tails you lose $50. |
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I'm sure this has already been brought up, but because I missed it, what do you guys think about this massive red flag? Q:** How do I get Hashpoints?**
A: You earn Hashpoints for keeping your bitcoin in ZenCloud
and for upvotes in Hashtalk. (upcoming feature?=for referrals, hosting miners, purchases) I know a lot of people like to blame mtgox victims for not seeing the red flags, but TBH it wasn't very clear. With gox, the red flags were hinting towards incompetence, but with GAW, everything hints at them being scammers. If gox had said something like "keep your bitcoins stored on our servers, you can totally trust us!" then I'm sure everyone would have withdrawn their BTC ASAP. Their customers may have been naive, but not that naive. Oh yea... I've been withdrawing all my BTC from the Cloud... I always get hit with account withdraw holds - to prevent "fraud" etcetc... Regardless, the small amount of HP you receive for the BTC is hardly worth locking up your money with them... I've waited up to 3 days for access to my own money... Granted, this passed time was about 4 hours... but then I get hit with another 4 today for another withdraw... So it adds up pretty quick and is a HUGE pain in the ass. I suspect they don't delay it due to fraud but simply due to low BTC reserves. Ponzi scheme red flag #7 according to the SEC: 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 |
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I'm sure this has already been brought up, but because I missed it, what do you guys think about this massive red flag? Q:** How do I get Hashpoints?**
A: You earn Hashpoints for keeping your bitcoin in ZenCloud
and for upvotes in Hashtalk. (upcoming feature?=for referrals, hosting miners, purchases) I know a lot of people like to blame mtgox victims for not seeing the red flags, but TBH it wasn't very clear. With gox, the red flags were hinting towards incompetence, but with GAW, everything hints at them being scammers. If gox had said something like "keep your bitcoins stored on our servers, you can totally trust us!" then I'm sure everyone would have withdrawn their BTC ASAP. Their customers may have been naive, but not that naive. |
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I thought this is a thread about hashlets not hashcoin. There already are general GAW threads, no need to spam here.
That's like saying we shouldn't talk about BTC in a BTC mining thread. People usually don't discuss the risk of buying bitcoin in the mining section. Just sayin' That's not true at all. If you have ever visited the mining section you would know that. Seems you just really don't want people to know about the massive risks/red flags involved with this "investment". |
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One thing that's still bothering me is why did they convert old hardware and Vaultbreakers 1:1 to Prime hashlets (and not e.g. to Zens or at a different ratio) and created such a huge incentive to take profits often as high as 300%. Was it because there was no other way to get out of the Vaultbreaker preorder? No money for refunds? Was the hope there that giving a huge profit while promising even more will keep the funds in ZenCloud? But instead looks like more people are withdrawing more BTC than anticipated because the whole thing suddenly got so much weaker since around mid-October. Super low ZenPool payouts, weird clawbacks, never ending withdrawal issues, mine hashpoints or else. Does the vaultbreaker actually exist? I'm guessing it's all a part of the scheme. |
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I thought this is a thread about hashlets not hashcoin. There already are general GAW threads, no need to spam here.
That's like saying we shouldn't talk about BTC in a BTC mining thread. But I get your point, it's much harder to pimp these things when people know the risk of it being a scam. I'll just leave this here: https://www.reddit.com/r/Bitcoin/comments/2l7myv/can_we_talk_about_gaw/ |
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10 trillion dollars.
That might be a bit too good to be true. $2 billion is apparently fine, Prime hashlets on the Market are still hovering around $44 so the faith is strong. I was wrong. The $20 million market cap was totally not a made up number. Turns out there are "investors" who have valued this new coin at $2 billion. Answer-2: We are creating a reserve fiat fund, in excess of 30 million dollars, to create immediate liquidity for the coin. This reserve will create a floor for the coin. It will stabilize the price and prevent pump and dumps from occurring. We do not believe many will sell, because our market analyst reported that the coin should break the $75.00 price point within 12 months of the ICO. Since there are many merchants committing to this, the price is expected to continue to climb. So $75 x 96m = $7.2 billion = 1.5 times the market cap of all cryptocoins combined (including bitcoin) And to call it a cryptocoin is a stretch. The definition of cryptocurrency is "a medium of exchange using cryptography to secure the transactions and to control the creation of new units". With hashcoin, the mining/cryptography is completely arbitrary as all transactions are all sent to the bank of GAW who has complete control over the blockchain and can modify it at will. If you were hit by a bus on your way to work tomorrow, without leaving your crypto keys where your heirs could find them, you are caught in a situation that has no obvious solution. A bank can fix that problem, by overriding the system and moving your money to your heirs.
Everyone knows the example of wealthy benefactors who funnel money to bad people who blow things up. Those cases are a very small percentage of what a bank would deal with. Most of the time a bank is going to be dealing with the small mundane issues, like someone inheriting your assets on your death, or freezing them if there are criminal proceedings.
When there is a central bank, for the crypto currency, in the picture, it can mitigate these issues, and governments will accept it much more readily. |
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 "We shall make the market cap $2 billion dollars" - GAW GEO Personally, if I was going to make up a market cap I would have went with at least 10 trillion dollars. |
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For those who missed it: https://hashcoin.com/Hashcoin: more ways to give money to GAW's CEO. Features include: - Non-technical whitepaper written in 5 minutes - Centralized transaction verification - Mining tax(unknown %): 1/3rd will go towards advertising the coin, 1/3rd will go towards expanding GAW datacenters, and 1/3rd will go directly in to the CEO's personal wallet. - 96 million coins will be distributed during the ICO for the amazing price of only $20/coin. That means for the low price of $1.9 billion USD you can buy all these amazing coins that GAW premined in seconds! - Buy hashcoins using hashpoints for only $4/coin (market cap $384 million). You will be able to sell them for $20 once it launches, GAW's CEO promises! |
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If you wonder where your divs are going, it is to owners of AMHASH.
AM is the owner of AMHash... |
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Well since they started selling hashlets on August 16 it's more like 2.5 months. Either way it's nowhere near long enough for a ponzi to collapse. |
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I can see u r affectionate towards BitFury and angry at PB Mining.
Angry is the wrong word. I just don't support their shady business model. Moreover, one does not need to continue maintaining the same address to show they are mining. They can simply rent an address for a few days and show it as 'proof' for months. That's not how it works. You cannot prove a company is currently mining by providing an address that is not currently mining. Look at https://www.antpool.com/poolStats.htm . Every day new blocks are found and signed with "mined by antpool". Regarding 'unknown entity', its a vague concept in bitcoin world. What will u do if CEX goes out of business tomorrow ? What u have been able to do to MK after the Mt. Gox fiasco. Everyone is always at risk and the concept of vague certainty should be abolished. While choosing the service I'll simply go through the rate chart and this is what I have now... 1. https://cex.io/ => 0.00268387 BTC/GHS 2. http://pbmining.com/ => 0.0021 BTC/GHS 3. http://www.cloudmining.website/ => 0.001 BTC/GHS So basically what you're saying is that because there are so many scams, you might as well invest in the best priced offering regardless of how sketchy/untrustworthy? Why would you willingly invest in something that has a 50/50 chance of being a ponzi? That's like playing roulette and betting on red, but instead of doubling your money if you win, you will maybe earn 10% profit after 6 months. Just go to a casino where the risk is the same but the reward is 10 times greater. |
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So many red flags.
They claim their 16nm hardware will be ready to deploy in Q1 when TSMC won't even begin mass production until Q2-Q3.
They also claim to have built their 20nm hardware in April even though TSMC's first 20nm customer was KNC.
If they did actually built a 3PH supercomputer or two they would let everyone know their mining address.
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What's the cost per KW for one of these things?
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Gaw has been in the cloud mining business for a while but has only recently started offering bitcoin cloud mining recently.
Did they offer cloudmining before hashlets? Hashlets have only been around for ~2 months. I vaguely remember reading somewhere that pbmining controlled ~10% of the network hashrate and that their pool was represented on blockchain.info/pools, however I may be mistaken about this. You are mistaken. Many have tried, but nobody could attribute a mining address to PBmining. I think it would make cloud companies even more trustworthy if they allowed users to direct their purchased mining contracts to a pool of their choice (similar to how leaserig operates). This would allow users to be able to truly verify that they have purchased mining capacity as they can more or less independently verify as such.
I agree that would be the best. That would eliminate the need for proof via their mining address because you would be able prove it using your own address. |
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I like this bitiodine site. Is that yours ? Are u Michele Spagnuolo ?
Nah, but I agree it is a nice website. Following btc using a blockchain explorer can be tedious. |
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