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Author Topic: GAWMiners.com Scrypt ASICs - Red Flags  (Read 817 times)
Chronikka
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May 10, 2014, 07:53:40 AM
 #1

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) :

Quote
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/2014/05/06

Its mostly about their CEO and his path, but he says something very interesting:

Quote
"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 away

My 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.

"The true sign of intelligence is not knowledge but imagination"  -Albert Einstein
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Chronikka
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May 10, 2014, 03:11:09 PM
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Past 30 hours my 5.2MH blade has only been putting out 2600MH.
No reply to my ticket.

They're too busy over there deleting posts and PM battling me to respond to you.

Give it a few days and see if they make any attempt to reconcile with you. They keep going on and on about their customer service right? So far I haven't been impressed. They just re-sell other people's hardware. When they screwed up with their recent orders they blamed gridseed. They call it being transparent. I call it playing the blame game because they made a bad business decision.

"The true sign of intelligence is not knowledge but imagination"  -Albert Einstein
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May 11, 2014, 09:36:56 AM
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Past 30 hours my 5.2MH blade has only been putting out 2600MH.
No reply to my ticket.

They're too busy over there deleting posts and PM battling me to respond to you.

Give it a few days and see if they make any attempt to reconcile with you. They keep going on and on about their customer service right? So far I haven't been impressed. They just re-sell other people's hardware. When they screwed up with their recent orders they blamed gridseed. They call it being transparent. I call it playing the blame game because they made a bad business decision.

I hope you don't mind me plugging my own thread here since we seem to have a similar opinion on the subject: https://bitcointalk.org/index.php?topic=537912.0

I haven't been following GAW much lately but read some of their crap about Gridseed price drops etc. What a clusterfcuk Smiley. They introduced their "own" hardware (rebranded Zeus apparently) for a significantly lower price than Gridseed products. Reneged on the "price protection" offer for founders saying this is a different manufacturer now, so no protection. Gridseed reacted - not just to GAW but others too probably - by matching their pricing, and GAW are trying to turn this into a propaganda campaign. Sad thing is a lot of people actually believe this good buy / bad guy nonsense. There are no good guys in this game. Hardware makers and resellers will always charge you the highest price they can get away with. One reseller claiming to be different only means that they are lying more than most.

Yeah, I'm grumpy, can't get my hosted blades out of GAW soon enough, eejits can't keep them running at full speed even after they "built new data center" or whatever the latest excuse was.

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Chronikka
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May 11, 2014, 12:05:03 PM
 #4

Past 30 hours my 5.2MH blade has only been putting out 2600MH.
No reply to my ticket.

They're too busy over there deleting posts and PM battling me to respond to you.

Give it a few days and see if they make any attempt to reconcile with you. They keep going on and on about their customer service right? So far I haven't been impressed. They just re-sell other people's hardware. When they screwed up with their recent orders they blamed gridseed. They call it being transparent. I call it playing the blame game because they made a bad business decision.

I hope you don't mind me plugging my own thread here since we seem to have a similar opinion on the subject: https://bitcointalk.org/index.php?topic=537912.0

I haven't been following GAW much lately but read some of their crap about Gridseed price drops etc. What a clusterfcuk Smiley. They introduced their "own" hardware (rebranded Zeus apparently) for a significantly lower price than Gridseed products. Reneged on the "price protection" offer for founders saying this is a different manufacturer now, so no protection. Gridseed reacted - not just to GAW but others too probably - by matching their pricing, and GAW are trying to turn this into a propaganda campaign. Sad thing is a lot of people actually believe this good buy / bad guy nonsense. There are no good guys in this game. Hardware makers and resellers will always charge you the highest price they can get away with. One reseller claiming to be different only means that they are lying more than most.

Yeah, I'm grumpy, can't get my hosted blades out of GAW soon enough, eejits can't keep them running at full speed even after they "built new data center" or whatever the latest excuse was.


Didn't realize your thread existed, I would have posted this there if I did.

But yes that's more or less what I thought was going on. When they told me they had new units in house and hashing (still no pics/proof btw), I knew they had just changed suppliers. They are in no way a development company. Its just sad that they tell everybody how truthful and transparent they are.

"The true sign of intelligence is not knowledge but imagination"  -Albert Einstein
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