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

[suchmoon]

Agreed.. i think a lot of the issues stem from the exponential growth the past few weeks... I'm sure they are staffing up more and creating more SOPs and procedures for things. You can't plan for every contingency with something this "new".

I don't get the reason why each hashlet needs to be treated individually, if that's what they are doing with payouts. They are all the same, so a payout should not be this hours-long "process", just adding todays_payout_per_mhs multiplied by MH/s owned. And even if there are 500k individual hashlets that's a tiny dataset. Doesn't seem like a tech issue.

[NuShrike]

If you look at erics linkedin profile he has the chops to handle what they are doing. My bet is they are growing too fast and attempting to do too much at once. It also doesn't help that people are buying tons of hashlets and probably leaving them as singles which adds to the db and increases the time needed to process payouts.

Sounds contradictory. How did they get into this mess if he has the "chops" ?  Overnight account-system changes aren't SOP for "chops" either.

Also, if he had the "chops", he would've known how to build a scaling system from the start, or at least catch it before it got this bad.

[SDRebel]

Question: is GAW mining on any pools other than ZenPool?
A: Almost definitely not.

when the hashlets were announced, they published an Zen address with clevermining. that address quickly went from 70Ghs or so to over 140Ghs. We can't obviously proove it belongs to them, but in my book, that would change the answer to: "they have at least provided some evidence that they mine, at least partially,  in clevermining"

[SDRebel]

Josh is well known to buy people out and there is no good reason to side with a ponzi company

why don't you show us proof of that then? if it is so well known

[SDRebel]

Well just because you've decided to wait and see doesn't mean everyone else should. Let them debate. If you're done, great! But don't think that should stop anyone else from expressing their view points. Simply move on.

the  problem is, like rdyoung said, is that it's not a debate. they simply say it's a fraud, scheme, etc, without providing any proof. that's not a debate.
I'm a GAW customer and I would really be interested in seeing any evidence of any fraud, so I can consider my options.
So far, I have not seen any fraud.
I have seen a lot of the hardware that GAW owns and I have physically had GAW-branded hardware.

[SDRebel]

Not sure what you guys expected with a topic like this really. 90 percent of these forums are trolls.

I'm trying to find value,find information, but at the end of the day it's just a lot of speculation without any foundation

[SDRebel]

sorry for multiple replies, and late replies, but been busy with other stuff

[Morguk]

Does GAW offer refunds? I want to switch some items I bought yesterday.

[suchmoon]

Question: is GAW mining on any pools other than ZenPool?
A: Almost definitely not.

when the hashlets were announced, they published an Zen address with clevermining. that address quickly went from 70Ghs or so to over 140Ghs. We can't obviously proove it belongs to them, but in my book, that would change the answer to: "they have at least provided some evidence that they mine, at least partially,  in clevermining"

Do you have that address?

[MOB]

No, payouts are late again. I could add some sarcastic remark here about rewriting payout systems overnight, but I won't

This gives us a direct pulse on what's going on behind all the smoke and mirrors. They're just a bunch of hacks like everybody else.

Probably hipsters in there (cheap to pay) relearning the same old lessons because they're not following industry standard practices.

If you look at erics linkedin profile he has the chops to handle what they are doing. My bet is they are growing too fast and attempting to do too much at once. It also doesn't help that people are buying tons of hashlets and probably leaving them as singles which adds to the db and increases the time needed to process payouts.

Agreed.. i think a lot of the issues stem from the exponential growth the past few weeks... I'm sure they are staffing up more and creating more SOPs and procedures for things. You can't plan for every contingency with something this "new".

Which is partially another red flag--if you don't have the staff or the infrastructure to handle your product, then how is it that you had enough of your product in the first place?  Orders from China take time and capital.  

This would particularly support the idea that Hashlet's are not just virtual shares of some physical object, but completely and utterly virtual.  They exist with no fixed ratio to any hardware that GAW might own.   (apparently not even the database servers)




As to those that think sitting back waiting will somehow automatically answer these questions, you should see how long the longest running Ponzi schemes last.  You would be surprised.  Even without being a Ponzi, GAW could be taking a large short position on BTC.  If BTC continues to decrease in value for about 4-5 months, then GAW would have won the bet.  It seems like a fairly safe bet at this point.

You paid them in USD or BTC, LTC, but if they put it all into fiat and just pay you back in BTC as the price drops each day then you could get more BTC back out than you paid in, but still have lost money on this.  Many would probably never realize what was truly going on.  GAW customers assume the risk, while GAW gets to use the principle for whatever they want.

What I would like to see (wouldn't we all) is for BTC to double in price in the next 2 months.  Real mining would have tremendous returns, but I am guessing not GAW miners.



Edit: Oh, and I might be feeling a bit more sanguine about this whole GAW thing as I finally managed to get a sale through escrow.  I now own 4 free MH and that is it.  Quite relieved to be in and out of GAW within 18 days and a 103% return on my original credit card purchase.

[I_IZ_CEO]

Not sure what you guys expected with a topic like this really. 90 percent of these forums are trolls.

Maybe we should create a subreddit for these kind of discussions. In the serious threads trolls are not tolerated and get deleted quickly with enough downvotes.

Even better bring up YOUR QUESTIONS/DEBATE ON HASHTALK? Oh you did....

[suchmoon]

Does GAW offer refunds? I want to switch some items I bought yesterday.

No refunds.

[EvilPanda]

Does GAW offer refunds? I want to switch some items I bought yesterday.

If you want to switch you can always trade with other customers in their marketplace.

[not.you]

Flound commenting on hashlets:

https://cryptocointalk.com/topic/14763-hashlets/

So, the hashlet situation is this:
 
1. I have no formal relationship with GAW.  They appear to be using our profitability numbers as posted on the main page or possibly via poolpicker.eu.
2. They do not mine on multipool.  They do payouts based on profitability reported by individual pools (which is completely unverified, as far as I know)
3. It is not clear that hashlets are actually mining anywhere, at this time.  There is certainly not enough 'Unknown' hashrate on the LItecoin network to account for the amount of hashrate they say they have.  Also, since they claim 200% profitability (which is mathematically impossible), they would need to have double that hashrate (i.e. each hashlet is actually buying 2MH of mining power, rather than the 1MH that's claimed) which would be about 500GH at this point.
 
My best guess is that they have hardware on the way to fill these orders, and they are simply paying payments out of cash reserves at this point.  I don't think it's an intentional scam or ponzi, they are far too large and successful of a company to do anything like that on purpose.  That said, if the hardware doesn't show up and they run out of cash, bad things could potentially happen.

[suchmoon]

I have something new to add I think...they replied to my can't withdraw ticket even though I closed it cause I was able to 10min later...but the reply asked if I got a prompt that said withdrawal hold...Why should they be able to put a withdraw hold on anyone account?

That kinda scares me more that they could do that system wide and then we'd finally get our answer hehe

There might be legitimate reasons for that, for example if you file a chargeback on your credit card purchase they might try to retain your balance.

[MOB]

I had a withdrawal hold yesterday while waiting for their payment system to finish running.  It is probably just related to their terrible database.

[rdyoung]

If you look at erics linkedin profile he has the chops to handle what they are doing. My bet is they are growing too fast and attempting to do too much at once. It also doesn't help that people are buying tons of hashlets and probably leaving them as singles which adds to the db and increases the time needed to process payouts.

Sounds contradictory. How did they get into this mess if he has the "chops" ?  Overnight account-system changes aren't SOP for "chops" either.

Also, if he had the "chops", he would've known how to build a scaling system from the start, or at least catch it before it got this bad.

My only answer to that is what honeycutt said, eric likely didn't see zen growing the way it did or in the direction it did when he had the idea and launched it. If they are legit and are run by semi competent individuals, we will see some positive changes down the road, hopefully they are still on a hiring spree looking for developers and coders who can work in that environment. I have no idea what zen is coded in, nor what their infrastructure looks like/is composed of. When you realize you are short staffed, it can take time to hire the right people in the right quantity to get things moving.

If there are any DB specialists here, instead of screaming scam and how shitty they are, why not offer your services. You could then get an inside look at whats going on and you could let us know one way or the other.

[rdyoung]

I have something new to add I think...they replied to my can't withdraw ticket even though I closed it cause I was able to 10min later...but the reply asked if I got a prompt that said withdrawal hold...Why should they be able to put a withdraw hold on anyone account?

That kinda scares me more that they could do that system wide and then we'd finally get our answer hehe

There might be legitimate reasons for that, for example if you file a chargeback on your credit card purchase they might try to retain your balance.

Oh ok...Ya that does sound like a valid reason...still knowing that its there n would be easy to do it system wide doesn't help my already uneasy feelings towards them

I do not remember the wording, but I have been unable to withdraw in the past and I believe it was tied to them hitting the api limits on coinbases api, they are now with blockchain, but they could still be hitting some limit if enough withdrawals are attempted at the same time.

[Flep182]

Question: is GAW mining on any pools other than ZenPool?
A: Almost definitely not.

when the hashlets were announced, they published an Zen address with clevermining. that address quickly went from 70Ghs or so to over 140Ghs. We can't obviously proove it belongs to them, but in my book, that would change the answer to: "they have at least provided some evidence that they mine, at least partially,  in clevermining"

Do you have that address?

Exactly the same idea here!

[edit] CM does 112 Ghs, so 140 wouldn't be possible

[suchmoon]

If there are any DB specialists here, instead of screaming scam and how shitty they are, why not offer your services. You could then get an inside look at whats going on and you could let us know one way or the other.

Yeah, I'm sure they would be happy to have me help them 

Anyhow, I don't think they need more people, you don't fix databases by assigning a developer to each data row.

Ironically the major mining pools that the CEO belittled as "regular guys with no professional training" have very few if any payout issues. So much for highly trained businessmen.