Well he could be acting like a typical engineer... The ones I work with are terrible at budgeting there time. Smart as hell, but suck at everyone thing else. If Chris had intentions to just runoff I understand the dragging it out bit with the support page and all these painful delay updates, but the auction page leaves me a bit confused
come on dude...there is a simpler explanation.... Not saying it's not over...mentally i'm already prepared for no more payments... but it is consistent with the "historical chris"... this post is from an original customer (for the hardware)... apparently massive delays and took 3 months to get resolved...which it sounds like it was: Who are all these people? Why can't they just shut up? Folks I have been here since the beginning, and invested a lot as well. I assure you this, when he was damn near 3 months late delivering, he offered a package that was way better than the 10k I invested. Yes I have ROI'd, several times over and reinvested a lot. I am very upset as well. I had a friend just get back from Korea and told me he was ready so he dumped 5k in, got 1 conversion to shares and hasn't seen shit since so yes I am very upset. With that said, I still believe in bee as you can clearly go back and read my posts in this said thread.
From: https://litecointalk.org/index.php?topic=6401.msg240957#msg240957So, unless people are still buying shares up, we've already lost what we've lost if he runs... but there's also still a glimmer of some sort of hope... |
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Someone caught that the shares conversion on the calc right now is incorrect (they are based on the last formula)! Until the holidays are over, I really don't have much time to work on this. I'll post a big update that includes Gen2 stuff, etc. after the holidays in the new, but blank, news/updates area.
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It seems like Chris has his hands full with a huge operation. Plus, from my own experience running crypto based operations, I'm sure his inbox blows up every day with questions and demands from terrified people who invested their rent money. I would recommend cutting him some slack. His operation has been around for a while now, he is not anonymous, and apart from some late payments, no one has been scammed. It seems like every week people are posting "have you been paid yet???!!! I haven't been paid yet!!!" Fear and desperation. I just hope that he doesn't get fed up with all of the grief many people cause him. This is a good deal we have here. Take a breath and try to relax.
I think this is a pretty fair assessment of the situation... but I think it's pretty clear he needs to invest in more support resources, because even with all of the panicky "noise" that probably takes up 99% of his inbox, 1% are valid (of course I made these percentages up) and are, for the most part, not getting responses. Plus, I think he's making questionable decisions like having another sale (which appears to be having the same multiple orders to one BTC address issue) in the midst of legit service issues. IMO, I would have suspended new orders made 100% sure the back-end stuff was fixed, previous week payout issues resolved and then opened up ordering again... I also hope if there are still issues after this batch of payments, that he does the above and also resolve payments before worrying about escrow and even multiplication. |
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Pretty sure i've stumbled on how GAW will enforce the $20 floor (HTML5 joke incoming): <form>
Sell Your PayCoin:
<input type="number" name="price" min="20" max="999999999999999999999999999">
</form>
There, floor in place. |
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I would agree to the above statement that, at this moment, it's pretty risky to buy more... at least in my opinion. We have the following:
- Missing payments from last week still being reported (with a couple of claims from payments missing from a couple weeks)
- Missing affiliate payments from this week being reported
- No update or replies from Chris on these issues
I too am waiting on an affiliate payment, though nothing in my account was changed and nothing on lockdown. Also have sent an email asking for an update, no reply.
For me, I wouldn't consider anything until Chris gets back on track and we have a few uneventful weeks without major issue.
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Have anyone received referral payout?
I too am still waiting, hopefully all payment stuff will be resolved today! |
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Organizer, not sure if you saw it but he changed up a small bit on the Dual MODs:
"If your account contains Dual MODs and BTC is chosen as payment method, the Dual MODs mode will be set to most profitable coin minable with MODs, which will be converted to BTC with 5% extra over day average at Cryptsy and payment will be sent to SHA-256 address (only if SHA-256 address is filled).
If your account contains Dual MODs and LTC is chosen as payment method, the Dual MODs mode will be set to most profitable coin minable with MODs, which will be converted to BTC with 5% extra over day average at Cryptsy, then to LTC and payment will be sent to Scrypt address (requires to have a Litecoin address)."
So no need to pick which coin to mine it pays out the most profitable. This may change your calc some.
Well, I think we still don't know what their mining power is for Lyra though, which is what I need more than anything... |
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Does 35% still work? Have anyone bought shares today?
I think until midnight UTC it will work... |
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Some brief updates on the calc...
If you want to add Gen2 preorder earnings to your estimates, you can put 12 qASIC shares for each 2nd Gen pre-shares you see listed on your account screen.
I've pretty much got the back-end pieces in place for the Gen2 Shares and data is being collected (based on the initial #'s Chris posted for them). So we'll have about a month's worth of historical data in place by the time they come online.
Also, since the Gen2 shares now involve 4 coins, I think it's probably time to test some other forecasting methods. The current one (time/series + linear regression) has worked, at best, marginally ok. So i've been subjecting myself to the world of math blogs, etc. to find some other contenders.
I've found a couple that are worth experimenting with, so i'll be doing some testing of these methods if I have any free time between now and the holidays.
Plus, whenever Chris updates what happens to DualMODs and specifically VTC, i'll be able to make those changes.
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UPDATE: orangegator also scammed me. He was in on the ruse where I lost 30 btc's. Still waiting on syclone to send my 2k xpy  Has anyone confirmed if gen2 are subject to multiplication?  There is very little to no chance they will be multiplied. They are pretty much next gen DualMODs which aren't multiplied. |
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Hi
I am not an admin anymore as I resigned today so I can't help you with that
All I know is that I am getting payments from miner pools
Animo
Animo, I saw your goodbye thread was locked by Josh because he wanted to talk to you... i'm curious as to what he's offering you guys to try to get you to stay? I know a couple have obviously been bought, i mean reconsidered... if you want to share some of the behind the scenes hijinx that is... |
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Another Mod resignation.... well said too I think: https://hashtalk.org/topic/23363/standing-downAll, When I stood to be a moderator, I thought I could be part of something amazing, something big and help change things, and I was really proud that my peers thought I was able to do it and that they voted me in. This is something I now feel I cannot do and will be stepping down as a moderator with immediate effect. I know that my decision will likely lead to me being banned here which is unfortunate, and I can settle that in my Aspergers, I know I cannot continue to lead, moderate or support a community where I cannot fully and truly share in its beliefs, as it would seem that the main belief of this community has become Extreme Greed, coupled with Distrust. This is not the Crypto communities that I know, where openness and honesty are normally the standards that people are held to. I have also come to see this community displaying some tendencies towards hero-worship and narcissism in some people and this is something that concerns me greatly, so I am stepping down. For those of you who want to talk to me - you know where to find me  AnimoEsto Remember - Get Hashing - you saw it here first |
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Regarding VTC, obviously the estimates will be off (for both the calc & the ROI Tracker) until Chris posts new numbers for them... he said sometime next week, so we'll have a few days of bad data.
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This is good news, I have sent some BTC in the past to the donation link on the site. Maybe you can add a LTCgear username for accepting shares as donation?  Thanks! Oh, the username for tipping shares was there all along (username: ltcgearcalc)... it's on the "Support this Site" page (oddly, the least trafficked page on the site...  ) |
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In case you missed it: Closure announcement:
Current affiliate system will be closed Mon Dec 15 at midnight (UTC). All registered referral rewards will be paid but no more referrals will be registered after this date.
Main reason; resources claimed by current affiliate system have negative impact on overall service performance, especially in support area but also in payment deadlines.
Moving to new generation product, new marketing strategy and adding new payment gateways are other reasons.
As discussed with a part of customers, the current affiliate percent will be maxed at 35% until closure.
In case you redirect customers to website, make sure they use correct affiliate link when accessing website since no more support is offered for affiliate system (one main reason to stop it). Make sure they don’t use another affiliate link after using yours since the new ID will overwrite your affiliate ID and referral will be registered under new ID.
And, this time it looks like he's gonna shut it down (at least in it's current form) for good. And I already got some PMs again... the Calc site will remain up and running regardless and i'll keep working on it for sure. |
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It's become more and more obvious when following GAW's announcements that Josh just does not understand currency. And to be fair, it's a very tricky
In general it seems Josh just doesn't "get" bitcoin. He talks about this new currency as being designed for institutional investors, for "business" - and for "miners", sorry, "stakers". He has built in a lot of bells and whistles with those Hashlets for the gamification crowd, making it more "complex" (more stupid, really). Those bells and whistles are useless for a currency. Actually, it makes for a less efficient currency (more time-consuming). A cryptocurrency either stands on its own legs (the genesis block) or it wont stand at all. Bitcoin has way too much of a head-start and will be enough going forward, especially considering sidechains.
I think Josh never really intended for this to be a scam as they moved from importing hardware to selling cloudy fluffy stuff marketed as "miners" doing "mining" (in reality nothing more than scripts and numbers in GAW's database).
He probably underestimated delivery times, got left cold after something failed and stopped the Vaultbreaker, tried to cover-up with Hashlets "mining", got the idea to turn everything into cloud gamification, got really cocky and fooled himself into believing he understands currency. Josh's reasoning indicates he thinks of cryptocurrencies as where they stocks in a company.
Regarding your second point quoted... I had similar thoughts many pages ago about this incredibly abrupt change of business model. Scrape away all of the "noise" about PayCoin and this is about the exchange... and most likely getting someone to acquire it to get the actual money men their money back. I can't argue that having a Coinbase-clone site w/ the added features of being able to fund a debit card is a bad idea, it's a good idea... BUT, GAW has changed their model in an incredibly ham-handed way that is just alienating to most people outside of the GAWsome protective bubble. The most telling thing is found when you take a look at what was said during the much hyped BTC.com purchase... so many glowing quotes about BTC. Then just mere months later to do an about face and say BTC isn't viable, etc. The intentions of Hashlets were probably good when it was devised... but there were obviously fatal flaws in the model.. first, the changing landscape of the value of hashpower tied to a business model going after the "little guy". Sorry, if you were able to sell me single MHs last year at the same time, it would have been brilliant... but to sell single MHs in the current environment (and small amounts of GHs for BTC mining) to me is irresponsible. You then encourage people to "reinvest" in a dying commodity is just going to leave a large share of your customers broke... sure the early adopters did well, but buy in Sept or even worse Oct/Nov.. .you're not getting anything from "mining" with GAW. GAW was never a manufacturer... so the best they could ever get in terms of hardware is the best wholesale prices... which still isn't good enough when you factor in things like the overhead, customer acquisition costs (I would imagine this number was really high in terms of the cost/vs revenue). I think Josh's ability to change face so quickly shows he just wants to be perceived as a thought leader, without actually bringing anything to the table... Paycoin is just a diversion to keep their existing customer base around... I can't imagine there's much of an influx of new customers coming in... many people are still just learning to comprehend how/what BTC is... now you throw in a marketing push that says BTC isn't "the one" combined with a bunch of POS crap, lots of stuff about controllers, staking, etc... POS is not understood by Joe Consumer and they are doing a horrible job of explaining it, IMO. So for me, all of this comes back to the exchange as the way out for them... I think the problem is they are really late to the development party and with their spotty technical record to-date... who, outside of the customer base, is going to be thrilled to give it a go? |
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Ok, here's the list of upcoming changes for the calc:
Ok, here's the full breakdown for what's coming for the calc. Due to all of these recent announcements from Chris and things like the VTC switch. Here's my list if related issues/changes/updates to the calc site in the coming weeks:
Immediate Issues:
--------------------------
Regard Gen2 Pre-Orders
I will not be adding any mechanism to the calc for tracking the pre-order earnings. When we finally get the announced (and correct) payout for them, we'll all just need to figure out the formula for what a Gen2 Pre-Order Share is worth in terms of qASICs. When we all know what the payouts will be, i'll post a note with whatever formula you'd need to figure it out .
VTC Algo Switch
When it happens, it should be updated on the same day (depending on the timing and how much time that day I'll have). Worse case scenario would be that i'll do that update the following day. But we should be ready to go for the switch on the calc page. Now, on the ROI Tracker... there might be a few, unanticipated things that might affect the accuracy. But as always, i'll try to get those resolved if/when they come up.
The timing for this update is dependent on when Chris updates the final numbers for what the new power of DualMODs on VTC will be.
Upcoming Multiplication (Dec 24th)
Remember that you are responsible for updating your share count on your home page. The ROI tracker already has the mechanism to handle multiplications, so like last time, you don't need to change anything there. I'll post a note on the page when we're close to the date.
Obviously the timing of the multiplication is pretty bad (xmas eve), so I might not be able to make that update until the night of the 25th or maybe the 26th.
Gen 2 Shares
This will be a major addition to the back-end that i've already started working on. My goal is to have it in place for the calculator page when they come online (or shortly thereafter depending on when Chris tells us the final numbers and specific date to when they will be mining).
Initially it might function like the existing calculator, where you select which coin you are mining. BUT, I want to add a "Most Profitable" option that will switch the earnings estimates for you based on the most profitable coin for the week-to-date when you load the page. This will probably happen after they come online, but it's one of the things I really want to implement in January.
Other Features:
--------------------------
The Xardas Laziness Calculator
Once we get through all of these updates, I want to continue working on having the actual payouts displayed on the Calc on Fridays after Chris posts the farm payments... The plan is to have it display all-day Friday from when it's posted to the end of day. This way everyone can see what their actual payouts will be on Fridays (and i'll include the estimated numbers for the week as well, so you can see how accurate/inaccurate it was for the week).
Rewrite DRK estimate routines
This is still something I want to tackle, but all of these other changes are far more important. Will just stay on the "to-do list" for now...
There also have been a number of good, smaller suggestions that i'll look to implement after everything else is done.
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A few have PM'd me on various forums about the preorder stuff and the calc. With all of the upcoming changes (VTC algo, Gen2 Multipool) combined with regular work and the holidays, i'm not planning on having anything in place for the calc to handle the preorder product.
Once we know how it's paying out (either 40% or 1:2.5) we'll all just have to manually convert the new products to qASIC values....
I'll have an updated post of all of the upcoming changes in the next couple days....
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So, after trying to watch that Q&A session a bit more... I got about 10 min in... and thought Josh's body language was pretty interesting... especially when the old banker dude was talking instead of him... so I have a new theory...
I think the mining company was Josh's baby for sure. He is just a rich kid schmuck who got into Bitcoin and was arguing w/ people on ebay for GPU miners as close as like 9 months ago (lol! CEO material?).
So he's clearly got access to money through whatever the connection is as the same people are always involved in his companies... so they all got behind the mining thing, and I do actually believe there's investments in GAW. Of course, he was unable to pull off profitable mining for anyone except early adopters and people who trade fake miners on the market... then we get things like the purchase of BTC.com, etc... it was all about bitcoin until this bizarre business model change into PayCoin...
Just looking at that video again, he looks like he's not really as interested or engaged as he was when it was about mining. It reminded me of being in a similar situation with a company i worked for that was going to go public in the .com days... as the economic landscape shifted, the investors started changing what the company was, acquiring other companies to try to fake people into thinking we were another type of company, etc.
I think this is what's happened at GAW... there's clearly not enough money for the investors involved to be happy.. so they needed to come up with a new model in the hopes not that it would succeed, but I think to be acquired by someone else is now the goal... they'll come up with a Coinbase type site that allows you to fund a debit card (with all the wonderful fees and integration with the existing system!)... paycoin is just a distraction to keep current customers "happy"...
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What is the best way to get in contact with Chris @ LTC Gear? I submitted a support request 48 hours ago, and haven't heard anything yet.
That's the best way really... if it's payout/acct related... wait another day or so and try again... if it's something non-serious... likely he won't respond. |
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