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

[EvilPanda]

You suspect?  You should ask owners of this forum to check my IP address to see if it's the same as gaw_whistleblower's or MemCiD's.   Maybe you will still suspect I use VPN?

Oh this is good. "The other guy is not me because we gave a different IP" It even rhymes

I could send this message to any of my friends via email or skype and have them register an account here and post it. It would take less than 5 minutes.
Rather a childish argument don't you think? Especially coming from an owner of a "big mining operation".

[FlexHash]

You suspect?  You should ask owners of this forum to check my IP address to see if it's the same as gaw_whistleblower's or MemCiD's.   Maybe you will still suspect I use VPN?

Oh this is good. "The other guy is not me because we gave a different IP" It even rhymes

I could send this message to any of my friends via email or skype and have them register an account here and post it. It would take less than 5 minutes.
Rather a childish argument don't you think? Especially coming from an owner of a "big mining operation".

the necessity of proof always lies with the person who lays charges.

I believe GAW lied to their customers, a lot of us listed why we believe so.  fake hashing rate, false statements, etc.
If you believe these accounts are the same person, you need to prove it.

You don't need to add quotation marks around "big mining operation".
I did show the photo of one of our mining farms.
It proves that I have sufficient knowledge to tell the difference between a real mining farm and GAW's warehouse. 
It also give you information that with a mining farm this size, we of course talked to various ASIC manufactures. Trading secret or not, I know GAW has not ordered any miners from any of those Scrypt ASIC manufactures for a long time.

[alienesb]

the necessity of proof always lies with the person who lays charges.

Well this is hilarious coming from you!

[dekodoge]

Well i'm waiting this this announcement later today.

[NuShrike]

After the last two days, payouts have drifted 9 hours later than the original payout time.

[bootsfirst]

After the last two days, payouts have drifted 9 hours later than the original payout time.

there was an announcement on hashtalk re: payout times being moved back to normal business hours instead of the middle of the night. they should come in between 7aCST and 9aCST starting today (8/29/2014)

i had the same question/problem and called to inquire about it....

[suchmoon]

Spilling some secret sauce:

https://hashtalk.org/t/zenpool-howdeedoodat-some-thoughts/8225/132

tl;dr: highly trained businessmen

But really, read the whole thing, it's awesome.

Have you guys ever considered that maybe something could be better by just doing things better?

Why is it hard to believe that a company generating close to 500k a day in revenue would not be able to figure out a way to be far more profitable then say a pool like clever miner, where they generate 1k a day in profits. Or how about the fact that most pools are run by "regular" guys, with no professional training, that just decided to start a pool. My pools are run by some of the most highly trained businessmen in the world (no offense).

It just baffles me that its even remotely hard to understand how a company with 1000x the resources of any pool on the planet can be more profitable. In my opinion, this is the least difficult thing to figure out in our entire company.

In any case, I did an interview yesterday where I spoke to some detail about how we divide up our hashing power. I spoke to how we lease it to private companies, private pools, day trading we do, etc

I think many of you will be disappointed that its not as "cool" or "unbelievable"as you might think. Its just leveraging scale and thinking outside of the box

https://hashtalk.org/t/zenpool-howdeedoodat-some-thoughts/8225/137

All my companies are run by businessmen

https://hashtalk.org/t/zenpool-howdeedoodat-some-thoughts/8225/143

Its pretty easy to assume that a company, at large scale, could produce a higher profit. Especially when your benchmarking it against companies that are 1% of the size.

To me, its MUCH harder to figure out how a company came out of no where and was able to dominate an entire industry in 5 months. Thats a much more difficult thing to believe.

https://hashtalk.org/t/zenpool-howdeedoodat-some-thoughts/8225/153

Your not automatically "guilty" just because you have not proven that your not.

In the "normal" world, its good to have proof of something before making an accusation.

[bitgeek]

Lol I'm not flex host

Misspelling the name won't make you look like you never heard of it. We are not in kindergarten

[suchmoon]

So the new thing they're going to announce today is apparently called Hashlet Solo:

https://cdn.shopify.com/s/files/1/0406/7009/files/0-Hashlet-Solo-Homepage-Takeover2.png

Single algo as opposed to multi-algo Genius Hashlet? Yes, I'm not good at this game, sorry.

Edit: copy of the image in case they remove it http://i.snag.gy/nHLYX.jpg

[MOB]

Interesting that he mentions day trading.  That would make Zenpool into a fund with the hashlet being a share. (as has already been hypothesized in this thread).

Unfortunately, if that is the case then Josh is selling unregulated securities while advertising it as something else.  That would be two felonies.

[coinGeek]

Spilling some secret sauce:

https://hashtalk.org/t/zenpool-howdeedoodat-some-thoughts/8225/132

tl;dr: highly trained businessmen

But really, read the whole thing, it's awesome.

...

Awesome indeed.

And I notice he said "highly trained" instead of highly experienced or successful... Experienced successes we might have heard of, if we asked for names. Business schools turn out the "trained" in bulk.

Granted, the altcoin world could stand to pay more attention to textbook business principles. But as the man said:

To me, its MUCH harder to figure out how a company came out of no where and was able to dominate an entire industry in 5 months. That's a much more difficult thing to believe.

difficult to believe? Indeed.

[suchmoon]

Interesting that he mentions day trading.  That would make Zenpool into a fund with the hashlet being a share. (as has already been hypothesized in this thread).

Unfortunately, if that is the case then Josh is selling unregulated securities while advertising it as something else.  That would be two felonies.

Maybe that's the reason for the half-assed "explanation". If he just said "we are day-trading and for some inexplicable reason instead of keeping the profit decided to give it away" then he could at least have an unprovable version of what's going on. I believe there are too many exchanges and too much volume to make any meaningful outside observation to determine if they're trading or not, unless they decide to share some evidence. But he still insists that they're mining and avoids addressing the question of invisible hashrate.

Edit: Some math on the "500k a day" part. If that's pool revenue then it's about 1/4 of total Bitcoins mined. If it's Hashlet sales it's 20 GH/s per day. Pick whichever makes least sense

[MOB]

Well, it would be both.  Revenue would be total cash flow in the day.

[ScryptHasher]

So now if i want to change algorithm's i just have to change the color of my hashlet?

The least they can do for the people is color code their magic hashlets...  Orange def. should be Scrypt-N





Side note: This is so fucking annoying... There's literally scamlet advertisements on every bitcoin/altcoin related website on the internet..

If anything it makes me feel like they are trying too hard..  Haven't they learned that the number 1 way to turn customers OFF your product is to SPAM THEM WITH ADS

[suchmoon]

Well, it would be both.  Revenue would be total cash flow in the day.

Right. Just pointing out how large the number is. If they e.g. sell 15 GH/s worth of hashlets and mine 250 BTC each day to make the combined 500k (USD I assume, not BTC) that's A LOT even for highly trained businessmen to be able to hide.

[suchmoon]

SPAM THEM WITH ADS

To be fair the CEO has said multiple times that his goal is to bring as many new people to mining as possible. Being a sarcastic old git I can see the nefarious reason for doing so  but the ads confirm this is the direction they have taken.

[alani123]

So now if i want to change algorithm's i just have to change the color of my hashlet?

The least they can do for the people is color code their magic hashlets...  Orange def. should be Scrypt-N





Side note: This is so fucking annoying... There's literally scamlet advertisements on every bitcoin/altcoin related website on the internet..

If anything it makes me feel like they are trying too hard..  Haven't they learned that the number 1 way to turn customers OFF your product is to SPAM THEM WITH ADS

I'd say that since they've sold so many of those little magic things called hashlets they're succeeding so far. If you read the headlines some days ago, they had sold more than 1m$ in a week and their daily sales value of hashlets were bigger than overstock.

[SDRebel]

for those interested, here's a quick writeup on what I think the hashlets are. I do not think they are scams though I could be wrong. Feel free to ask any questions.
You do not have to believe me and I don't claim to have all the right answers. It's just my speculation.


posted in hashtalk
https://hashtalk.org/t/my-theory-on-what-the-hashlet-is-and-why-it-may-be-beneficial-to-both-gaw-and-customers/9984

title:my theory in what the hashlet is and why it may be beneficial to both GAW and customers

I wanted to go into detail, but have been busy, so will be short. feel free to ask about filling the holes/gaps

some facts about mining/miners/gaw/gawusers

-GAW is not a not-for-profit org, so it needs to make money
-we all want ROI or better and thus need to invest in ASICs
-shipping miners is expensive (both to GAW and to customers)
-new ASICs become cheaper and more efficient
-RMAs/warranty/support cost money
-miners sometimes are sent used from the manufacturer

what I think happens, based on my thinking and partially on Josh's comments in the past
1 Mh hashlet is sold for X amount of money.
getting a 1Mh of scrypt miner only costs say, between 8-12 bucks (just an example) - let's name this A
so where does the rest goes?
B would be hosting cost
but A + B is not equal to X
what I think happens is GAW builds up a fund with C, so A + B + C = X
C, the fund, can be used to buy more miners as they become more efficient or cheaper per Mh.
for example: getting 1Mh out of a war machine is not as cheap as getting one out of the vault breaker
if getting 1Mh out of a war machine cost, say , 20Mh, getting 1Mh out of a VB cost maybe $10
so our 1Mh hashlets get "cheaper" and that's how our "hosting" costs go lower

at the same time, GAW can reduce costs by not having to ship miners, do RMAs, provide support if something doesn't work, etc, etc, etc, so A can be cheaper than normal
B itself goes down very slowly. the 1Mh out of the war machine is a big more expensive to host than the one out of the VB , and so on
C also can go down because getting 1Mh from a future miner is also cheaper
also, something very important, is that hardware upgrades are pretty much built into the hashlet, which saves costs for both the miner and GAW

so in my opinion, this was GAW's way of working around many of the issues

(this was quick and interrupted by coworkers while typing, so feel free to correct me/ask for more details

[suchmoon]

This user is suspended until September 5, 2014 5:05pm.
Reason: Trolling

lmao well it was fun while it lasted

Well you did push the limits, I saw you there

Edit: surprisingly the thread is still there so I'll just post a link - https://hashtalk.org/t/just-goes-to-show-ya/9977

[xephyr]

If you do not trust GAWMiners just don't order from them, they are not the only game in town. I bought Hashlets at $16 and glad I did, last week's return on investment was 15% for me, not bad. However, my investment in ASIC shares at Litecoin GEAR returned 24% for the same week and after a month I have already achieved ROI.