So I feel the need to post this simply because a number of my posts have gotten deleted by GAWMiners. The guys who tout their transparency but quietly censor everything that isn't positive.
I originally posted this (which was ignored and promptly deleted when I asked why it was ignored) :
I think anybody looking to invest in the new scrypt miners from GAW should read this:
http://www.cryptocoinsnews.com/news/gawminers-ceo-josh-garza-got-bitcoin-scrypt-mining-asic/2014/05/06Its mostly about their CEO and his path, but he says something very interesting:
"For example, a company I spoke to a few days ago is an ASIC company that makes a new Scrypt product yet to be released in Q3 to Q4. Great company, great product, great group of guys, very innovative but in no hurry. They have x amount of $ in seed money, and no one knows their product and brand. I approached them and said what if I could raise a million dollars in pre-orders for your product how would that move up your timetable? The guy was like ?I can move my time table up two months"
This article was posted on May 6th. The new scrypt miners from GAW were posted
here and
here on May 3rd. Seems fairly obvious where these miners are coming from. GAW is not producing them, just funding the development with pre-order money raised on their website.
I think some more transparency from GAW regarding their new partner is in order.
After several more posts were deleted (not all of them mine) I questioned via PM whether they had working prototypes. GAW responded by PM with this:
That means nothing. You make a million dollar out of pocket payment to said company. Then raise "pre-order" money for new product. The "pre-order" money never leaves your bank but only because the payment was already made. Pre-order money is just balancing your books.
You could very well be re-paying your investment with customer's money. not sure which is worse.
If you are a month away from shipping you have to have a working prototype. If its being developed in house how could you not? Otherwise there is no proof of concept and you could be funding garbage.
Yes, we have units already in house and hashing awayMy response? Well naturally I posted the PM directly to their thread. If they have working units, hashing today, where is the proof? Not one picture? Why tell me over PM but not their own customers?
Meanwhile, they continue to take "pre-order" money for miners they just told me already exist!! Red Flag? I say yes. Tread carefully if you are looking to buy these new scrypt miners. And let me be clear, I have no problem with the rest of their business as a hosting service and gridseed re-sellers. I am skeptical of their branded scrypt miners and the proposed ship dates. And I highly doubt they developed these themselves. The company is 2 months old and has never developed their own product before.
