mining & electricity

[defcon23]

mining need a lot of electricity, when the bill comes, it could be hard.. 
           
                              http://www.coindesk.com/gaw-miners-breach-contract/?utm_source=CoinDesk+subscribers&utm_campaign=80eb339b4b-EMAIL_RSS_CAMPAIGN&utm_medium=email&utm_term=0_74abb9e6ab-80eb339b4b-72116193

[aso118]

mining need a lot of electricity, when the bill comes, it could be hard.. 
           
                              http://www.coindesk.com/gaw-miners-breach-contract/?utm_source=CoinDesk+subscribers&utm_campaign=80eb339b4b-EMAIL_RSS_CAMPAIGN&utm_medium=email&utm_term=0_74abb9e6ab-80eb339b4b-72116193

In addition, there is a breach of contract of not using electricity (and not paying for it) because GAW has suspended mining operations. I am surprised that they had a 1 year contract with Mississippi Power Company

[dothebeats]

I wasn't surprised by the news at all. Only paid once and never paid the company again. I wonder how much money did Josh got from doing this, because if it isn't a lot, he would probably continue the mining operations with hopes of getting more money. Well, after all it did happen. Pity to those who got scammed by this man. They've been GAWed.

[Amph]

they probably used all the money for new equipments, in order to remain in track against the other companies, even if the news is recent they might have accumulated a debit with many months of insolvency, it could be started when btc was still at 600 and they have preferred to used that
greater amount for expanding their facility than paying their old bills(thta were smaller at that time), now with btc at 230 they are caught off guard

[cryptojumper]

And Paycoined(tm) all their clients eventually. They probably thought there will be a 20$ floor as they promised If that would be the case then no problem - dump some coins and pay all bills, just didn't work out somehow... wondering...

[ashour]

Doesn't surprise me tat they are getting sued. GAW was under radar from many news sites, authorities etc , they should had used t electricity to actually mine bitcoin but they probably did some dirty trick to "wash" the bitcoin they got from paycoin.

[BillyBobZorton]

I never invested in cloud mining for a reason. I wish I lived in a place with cheap ass electricity to start a solid, legitimate mining empire. I would live inside the mining cave during the winter to get free heating.

[defcon23]

Doesn't surprise me tat they are getting sued. GAW was under radar from many news sites, authorities etc , they should had used t electricity to actually mine bitcoin but they probably did some dirty trick to "wash" the bitcoin they got from paycoin.

you're probably talking about this : GAW Miners and the Disappearing $20 Paycoin Floor, source: http://www.coindesk.com/gaw-miners-paycoin-disappearing-20-floor/ 

[ashour]

Doesn't surprise me tat they are getting sued. GAW was under radar from many news sites, authorities etc , they should had used t electricity to actually mine bitcoin but they probably did some dirty trick to "wash" the bitcoin they got from paycoin.

you're probably talking about this : GAW Miners and the Disappearing $20 Paycoin Floor, source: http://www.coindesk.com/gaw-miners-paycoin-disappearing-20-floor/ 

Yes they probably "washed" the money they got from the Paycoin scam with he mining and electricity business. But that's just speculation

[cryptojumper]

Wait, but didn't they first mined and then did this paycoin mess and not vice versa... It's a bit confusing how can they wash money from paycoin