GAW ZenCloud ZenPool Hashlet - does it really exist? ALWAYS MAKE MONEY :-)

[Flep182]

It's a bit over my head, but has anyone tried to track their payout in BTC to some mining action in the blockchain? To confirm it was mined "somewhere"

[1715073015]

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[1715073015]

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[ScryptHasher]

Technically though if they keep increasing their current claimed hashpower at the rate they have been / say they will won't that be conflicting with their own profit?

I mean more network hash power = less profit  per Mh/s .... That and altcoins are tanking right now..

I don't see how this is going to be good for either josh or the miners.

[suchmoon]

It's a bit over my head, but has anyone tried to track their payout in BTC to some mining action in the blockchain? To confirm it was mined "somewhere"

If they mine Scrypt then tracking the BTC payout won't help. It will lead to an exchange and then to someone else's mined block.

[cyclonereverb]

Maybe I'm totally wrong here, but have GAW actually outright stated they are mining scrypt? In the advertising they say the hashlet can change algorithm (new features coming soon). Is it as simple as they are mining multi-algorithms and spreading the hash across all coins?

If you could get decent hash out of Scrypt N while keeping the heat and power draw to a minimum, this would do it.

My money is on next-gen multi-algorithm ASIC miners.

[MOB]

Maybe I'm totally wrong here, but have GAW actually outright stated they are mining scrypt? In the advertising they say the hashlet can change algorithm (new features coming soon). Is it as simple as they are mining multi-algorithms and spreading the hash across all coins?

If you could get decent hash out of Scrypt N while keeping the heat and power draw to a minimum, this would do it.

My money is on next-gen multi-algorithm ASIC miners.

If that was the case then the "MH" they are selling would need to be partial MH since you would make considerably more with ScryptN.

What I mean is, if they sell you 1MH while pretending it is scrypt, then it would need to represent about 1/4.25MH in ScryptN hash.  I would still call that significantly misleading the customer.  Why not just tell the world you have ScryptN ASICs at a good price?

[Jacques de Molay]

The way I see it, 1 of 2 things might be happening.

1. The zenpool isn't skimming off the top of each miners profits like some mp do - it doesn't need to do this since its theirs and people buy shares to mine there.
2. *I am using round numbers here so dont quote me on this example ok - say the datacenter has 1 gig to allocate - whats to say they dont have 1.5 gig running so the remaining is purely used to prop up the payments only.  As more people buy hashlets it increases both

happy to be wrong, debate whatever.

[alani123]

More solid proof that the hashlet is feasible. It was infact a godsent gift.

[ScryptHasher]

Maybe I'm totally wrong here, but have GAW actually outright stated they are mining scrypt? In the advertising they say the hashlet can change algorithm (new features coming soon). Is it as simple as they are mining multi-algorithms and spreading the hash across all coins?

If you could get decent hash out of Scrypt N while keeping the heat and power draw to a minimum, this would do it.

My money is on next-gen multi-algorithm ASIC miners.

If that was the case then the "MH" they are selling would need to be partial MH since you would make considerably more with ScryptN.

What I mean is, if they sell you 1MH while pretending it is scrypt, then it would need to represent about 1/4.25MH in ScryptN hash.  I would still call that significantly misleading the customer.  Why not just tell the world you have ScryptN ASICs at a good price?

Well Scrypt N coins can keep changing their algorithm so why would they say they are mining it.

Plus i doubt that would be worth the risk because if scyptN changes to something those ASIC's can't mine then that's a ton of paperweights.

[suchmoon]

Maybe I'm totally wrong here, but have GAW actually outright stated they are mining scrypt? In the advertising they say the hashlet can change algorithm (new features coming soon). Is it as simple as they are mining multi-algorithms and spreading the hash across all coins?

If you could get decent hash out of Scrypt N while keeping the heat and power draw to a minimum, this would do it.

My money is on next-gen multi-algorithm ASIC miners.

Yes, they have stated it is Scrypt, many times. It's listed as Scrypt miner on ZenCloud, the CEO specifically referred to this as an initiative to help Litecoin and Scrypt profitability. This doesn't mean they can't backpedal from these claims and justify that with some kind of good intention. However there isn't enough hashrate anywhere outside Scrypt to support their claimed capacities, certainly not in Scrypt-N. Last known ZenPool hashrate was 250+ GH/s (Scrypt).

Curiously though in their PR they refer to it as "Bitcoin mining", presumably to make it more understandable to the wider audience.

The way I see it, 1 of 2 things might be happening.

1. The zenpool isn't skimming off the top of each miners profits like some mp do - it doesn't need to do this since its theirs and people buy shares to mine there.
2. *I am using round numbers here so dont quote me on this example ok - say the datacenter has 1 gig to allocate - whats to say they dont have 1.5 gig running so the remaining is purely used to prop up the payments only.  As more people buy hashlets it increases both

happy to be wrong, debate whatever.

See above. It's declared at 250 GH/s, would have to be nearly double that to make payments sustainable. See also the first post of the thread, there is more detail on that.

[cloverme]

pretty obvious josh is shady, you don't piss off this many people running a great small business.

Agreed, I read in another thread they've been reported to a few different local and fed entities, so you know they really pissed off people. I think what got everyone stirred up were all the marketing claims and not really explaining details. The customer service issues on actual physical orders didn't really help either. How they've acted both here and on hashtalk soured more than a few people too. I just want my physical miners that I ordered last month before they implode, flee, or are shutdown.

[Honeycutt22]

pretty obvious josh is shady, you don't piss off this many people running a great small business.

Agreed, I read in another thread they've been reported to a few different local and fed entities, so you know they really pissed off people. I think what got everyone stirred up were all the marketing claims and not really explaining details. The customer service issues on actual physical orders didn't really help either. How they've acted both here and on hashtalk soured more than a few people too. I just want my physical miners that I ordered last month before they implode, flee, or are shutdown.

Dunno, all that sounds like FUD to me... No one has produced anything like a report/email or anything as proof. It's all been, I heard this or that...

[ZiG]

for now...what happens when you don't get paid anymore and everything is gone?
[/quote]

One day they stopped payments...

Remember ...Maddoff ...Ponzi ...

Sounds familiar...

That's it ...for now in "back in the future" ...Capisco...or not ...it is your problem...

Continue buying "Magic Hashlets" ...with a new...and improved features ...and higher price ....etc...

Cheers,

ZiG

[Flep182]

It's a bit over my head, but has anyone tried to track their payout in BTC to some mining action in the blockchain? To confirm it was mined "somewhere"

If they mine Scrypt then tracking the BTC payout won't help. It will lead to an exchange and then to someone else's mined block.

Well, I also have two Ant S3's in their ZenCloud so maybe there
It's just that the ledger is open to everyone, maybe it's possible to find some clues there

[EvilPanda]

I wonder how many received payments from Zen it takes for you to stop comparing it to Lunamine. It's like listening to the same music over and over.
The funniest thing is that most people who are posting here have invested and are now relieving the nerves by attacking a company they depend on

[chmick]

Hi all,

I have been reading this thread for a while . Usually I don’t post because there is no need to add to the troll .  But in this case I created a account just to share my thoughts with whoever wants to read .
In this thread I think there is two types of critics :

Some come from people who are thinking (due to the lack of explanation from gaw) : if it’s to good to be true , it’s not true . Gaw seems to give very “foggy” explanation but on the other side if you had a good business idea, would you share it with the world or keep it as business secret and make money .?(especially in the internet business) 

Some others who sees in gaw a very annoying competitor.
For example:
I have an account on cex.io and was cloud mining there :  you can see some talk in the chat box of cex.io website . Between the fees higher than the profit and the market manipulation of ghs , customer where looking for an alternative to cex.io . The haslets may provide this , and it’s not of the taste of the ones who have GHS to sell on cex.io and less and less customers left since they moved their BTC to zencloud .
All this reminded me about talks on pbmining . Everybody was shouting it’s a scam, but so far it’s still working (in my case I have reached ROI)

About gaw I can only say this : I ordered some hardware from them (gridseed and zeus) . It was some bumps in the delivery process (I live in Europe) but at the end it went through.
I think they have good ideas but they are still a little muddled  (correct English word ?) when it comes to business process.
To be clear I did like for pbmining, took a risk and invest some coin in hashlets . why ?? it maybe a scam but after  mtgox , it would be very risky to screw people knowing there is not a place on earth where you could hide from bitcoiners hunting you down .

[omgbossis21]

Is it not possible that a "hashlet" is a modified version burstcoin which hashes with your hard drive per gb/tb???   Not certain how feasible it is but jarred in my head while I was sleeping so I awoke to question it.

[cloverme]

chmick - I agree, a lot of negativity could be fueled by competitors here trumping up charges against gaw with little or no proof. I think what cex.io had going for it was that focused less on marketing and more on the actual function of trading btc for ghs as a commodity.

That being said, a lot of claims were thrown out there with the hashlet and zenpool, so claims should be followed up with details. However, that's not really GAW's style, their format seems to be to announce something or sell it and say the additional features or information will be "coming soon". I think partly they do it on purpose to stir people up to cause a commotion and get attention from the community.

[chmick]

DON'T EVER COMPARE CEX.IO WITH ZENCLOUD, LOL.
Cex.io actually mines blocks and can prove it.

 

 how many GHS do you have on CEX.IO ?

do you make profit out of it ?

[dekodoge]

DON'T EVER COMPARE CEX.IO WITH ZENCLOUD, LOL.
Cex.io actually mines blocks and can prove it.

 

 how many GHS do you have on CEX.IO ?

do you make profit out of it ?

Cloud mining usually isn't profitable, end of story.

You really are not a happy chappy are you.

[Honeycutt22]

It is with GAW:)