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

[rdyoung]

Ok, the announcement is there, I think I'll be updating the OP tomorrow.

I don't quite understand the pricing though. $1 per GH/s is quite steep. $0.02 maintenance per 10 GH/s per day adds up to $0.06 per GH/s per month. If I plug those numbers into any Bitcoin calculator it will never ROI if diff increase is 6% or more. Am I missing anything? Is there ZenPool for SHA256 that pays 50% extra?

I wouldn't doubt they have sha zenpool coming. They need/want to be "better" than everyone else, it would follow that with a sha hashlet, zenpool would go with it.

I just want my vb 2s to start hashing. Then I'll be a happy camper.

You didn't take them up on the convert to hashlets offer?

[suchmoon]

That link does not seem to load.

Anyway, if they mine at 40GH, but with the usual 25% fee then it would take ~61 days to ROI on a $15.99 hashlet.  Same as scrypt.

edit: is hashtalk down again??  Weird how they can't get a webpage to stay up but are all Mr. Business all over the mining industry.

How did you get 60 days? What's the diff increase % in your calculation?

It depends on how you do the math. If you base it on straight BTC in BTC out you have 1 estimated time to 100%+ROI. If you base it on USD in BTC->USD out, you could be looking at a much shorter 100% roi time if/when btc goes vertical again.

As I always say in these cases, if I wanted to bet on BTC going vertical, I'd be better off buying BTC - no need to involve the extra risk of mining. Same way, if I buy a miner I prefer to calculate my ROI without involving the exchange rate risk. So straight BTC = no ROI, am I right? (ok, < 100% ROI for you pedants out there ) Is there anything I'm missing in the announcement. some secret sauce, private rentals, stuff like that?

[rdyoung]

That link does not seem to load.

Anyway, if they mine at 40GH, but with the usual 25% fee then it would take ~61 days to ROI on a $15.99 hashlet.  Same as scrypt.

edit: is hashtalk down again??  Weird how they can't get a webpage to stay up but are all Mr. Business all over the mining industry.

How did you get 60 days? What's the diff increase % in your calculation?

It depends on how you do the math. If you base it on straight BTC in BTC out you have 1 estimated time to 100%+ROI. If you base it on USD in BTC->USD out, you could be looking at a much shorter 100% roi time if/when btc goes vertical again.

As I always say in these cases, if I wanted to bet on BTC going vertical, I'd be better off buying BTC - no need to involve the extra risk of mining. Same way, if I buy a miner I prefer to calculate my ROI without involving the exchange rate risk. So straight BTC = no ROI, am I right? (ok, < 100% ROI for you pedants out there ) Is there anything I'm missing in the announcement. some secret sauce, private rentals, stuff like that?

All true. I would add one more thing though, I believe strongly that the difficulty increases are near leveling off. We have hit the smallest die for quite some time. Buying hardware or cloud in this case, is a long term bet that you will mine more with the hardware than if you bought btc.

One of the replies from josh sparked a thought I should have had by now. Cloud mining is a way for the average person to "buy" btc with a CC, they don't need to get setup with an exchange, wire money, send a MO, etc, they simply buy some hashlets with the visa or mastercard and starting the next day they have BTC they can use to transact with.

Disclaimer: The above referenced "hashlet" is used as a general term for any service offering cloud mining purchasable with a credit/debit card.
The use of the word "hashlet" is in no way an endorsement of any services offered by the gaw/zen company. The "hashlets" are to be used at your own risk, I am not responsible if during the use of "hashlets" your dog runs away, your wife leaves you or a tsunami steals your child.

[verloren]

Ok, the announcement is there, I think I'll be updating the OP tomorrow.

I don't quite understand the pricing though. $1 per GH/s is quite steep. $0.02 maintenance per 10 GH/s per day adds up to $0.06 per GH/s per month. If I plug those numbers into any Bitcoin calculator it will never ROI if diff increase is 6% or more. Am I missing anything? Is there ZenPool for SHA256 that pays 50% extra?

I wouldn't doubt they have sha zenpool coming. They need/want to be "better" than everyone else, it would follow that with a sha hashlet, zenpool would go with it.

I just want my vb 2s to start hashing. Then I'll be a happy camper.

You didn't take them up on the convert to hashlets offer?

Batch 2s haven't even been notified of what is to happen with their hardware.

[ZiG]

Ok, the announcement is there, I think I'll be updating the OP tomorrow.

I don't quite understand the pricing though. $1 per GH/s is quite steep. $0.02 maintenance per 10 GH/s per day adds up to $0.06 per GH/s per month. If I plug those numbers into any Bitcoin calculator it will never ROI if diff increase is 6% or more. Am I missing anything? Is there ZenPool for SHA256 that pays 50% extra?

I wouldn't doubt they have sha zenpool coming. They need/want to be "better" than everyone else, it would follow that with a sha hashlet, zenpool would go with it.

I just want my vb 2s to start hashing. Then I'll be a happy camper.

You didn't take them up on the convert to hashlets offer?

Batch 2s haven't even been notified of what is to happen with their hardware ...Vaporware ....

[verloren]

Ok, the announcement is there, I think I'll be updating the OP tomorrow.

I don't quite understand the pricing though. $1 per GH/s is quite steep. $0.02 maintenance per 10 GH/s per day adds up to $0.06 per GH/s per month. If I plug those numbers into any Bitcoin calculator it will never ROI if diff increase is 6% or more. Am I missing anything? Is there ZenPool for SHA256 that pays 50% extra?

I wouldn't doubt they have sha zenpool coming. They need/want to be "better" than everyone else, it would follow that with a sha hashlet, zenpool would go with it.

I just want my vb 2s to start hashing. Then I'll be a happy camper.

You didn't take them up on the convert to hashlets offer?

Batch 2s haven't even been notified of what is to happen with their hardware ...Vaporware ....

I'm inclined to agree at this point.

Timeline:
Aug 23 - Josh promised to take care of Batch 2s 2 weeks after the VB1-> Hashlet conversion. Conversion form submitted.
Aug 25 - Some codes sent out, deactivated/reactivated issue.
Aug 28 - Final activation of virtual hashrate was finally finished being handed out around Aug 28.

Expected timeline would be for VB2 to receive information around now, and get it all spun up by Sept 11. Mistakes will happen somewhere in the activation process.

[AlphaD]

They have to make sure they leave enough time to warrant the difference in price from batch one to batch two. Otherwise they will have to deal with complaints from people upset that there was not enough benefit to ordering the batch ones.

[arorts]

I sold my hashlets yesterday, but noticed I have no payout now for today

Since we are paid about 16 hours after we "mine," there should have been one.  Contacting support...let's see how much of a hassle this is.

GAW certainly does not do details well.

How exactly did you "sell" your hashlets??  I haven't seen any exchange or market to sell them....Please elaborate

[dyask]

I sold my hashlets yesterday, but noticed I have no payout now for today

Since we are paid about 16 hours after we "mine," there should have been one.  Contacting support...let's see how much of a hassle this is.

GAW certainly does not do details well.

How exactly did you "sell" your hashlets??  I haven't seen any exchange or market to sell them....Please elaborate

There is an informal exchange on hashtalk.org and a formal transfer process.   People agree on price and typically an escrow agent is used.   Escrow gets the BTC, Hashlets are transferred and then escrow releases the BTC.   There have been many transactions like this.   

[dyask]

Will you morons stop investing in gawminers? There is no profit to be made unless its a ponzi scheme.
If there was profit to be made, Josh wouldn't be selling hash to customers ...

By your logic, no one would ever sell anything.   The world doesn't work that way.

[Morguk]

I'm just gonna stick to the hashlet primes, more pool/mining options and more chance to beat difficulty.

[bitgeek]

Will you morons stop investing in gawminers?

We all know you'd love that. GAW with their low prices is bad for your flexshit business.
There's a great thread where you show your true colors.
https://bitcointalk.org/index.php?topic=760175.new#new

[Flep182]

Let's stick to the topic pleaaaaaase 

GAW has Bitcoin hashlets now: http://gawminers.com/pages/hashlet-genesis

So with this we SHOULD be able to find something about their miningefforts in the blockchain.

0.0206562 is (with current rates) their price for 10 Gh/s. Fee according to their website is $.02/day per 10GH.

I'm curious what will happen with lowering the costs, since according to a calculation on bitcoin wisdom calculator (10% increases) you won't make back more than half of the investment before it turns negative in 236 days.

[bitgeek]

Who the hell is flexshit and why do you keep comparing me to them?
You're just proving that GAW's clientele is actually mentally challenged.

Come on say that again: "Me and flexhash are not the same person! I have a diferent ip!"
Btw. I loved how you used to misspell his name, so smart.

Let's stick to the topic pleaaaaaase 

GAW has Bitcoin hashlets now: http://gawminers.com/pages/hashlet-genesis

So with this we SHOULD be able to find something about their miningefforts in the blockchain.

0.0206562 is (with current rates) their price for 10 Gh/s. Fee according to their website is $.02/day per 10GH.

I'm curious what will happen with lowering the costs, since according to a calculation on bitcoin wisdom calculator (10% increases) you won't make back more than half of the investment before it turns negative in 236 days.

There's a company called genesis that also offers cloud mining contracts.

[bitgeek]

Who the hell is flexshit and why do you keep comparing me to them?
You're just proving that GAW's clientele is actually mentally challenged.

Come on say that again: "Me and flexhash are not the same person! I have a diferent ip!"
Btw. I loved how you used to misspell his name, so smart.

Okay? I'm not flexshit, great detective skills buddy.

I'm not your buddy. Did you have a Jennifer Lawrence session today?

[flapflap]

I sold my hashlets yesterday, but noticed I have no payout now for today

Since we are paid about 16 hours after we "mine," there should have been one.  Contacting support...let's see how much of a hassle this is.

GAW certainly does not do details well.

I discovered this too. If the hash is not in your account at payout time you get nothing for the day.

The buyer gets activation codes as if they were brand new hashlets, they do not get the payout either.

Zen just pockets it.

[rdyoung]

Will you morons stop investing in gawminers? There is no profit to be made unless its a ponzi scheme.
If there was profit to be made, Josh wouldn't be selling hash to customers ...

By your logic, no one would ever sell anything.   The world doesn't work that way.

By his logic the worlds economy would stop dead. Standard business practice is to use other peoples money to invest in your business. Why would josh use his own personal funds to attempt to create new hardware when he can presell it to everyone else and use those funds for design/implementation?

[ZiG]

Will you morons stop investing in gawminers? There is no profit to be made unless its a ponzi scheme.
If there was profit to be made, Josh wouldn't be selling hash to customers ...

By your logic, no one would ever sell anything.   The world doesn't work that way.

By his logic the worlds economy would stop dead. Standard business practice is to use other peoples money to invest in your business. Why would josh use his own personal funds to attempt to create new hardware when he can presell it to everyone else and use those funds for design/implementation?

The world economy is NOT "hashlet(s)" economy...Capisco...

ZiG

[ZiG]

And the world's economy is being compared to scamlets and gaw's ponzi scheme why?

Retardation, buddy...

ZiG

[Flep182]

From the newsletter of GAW:

Hashlet Prime Updates
Also, Hashlet Primes are going to be able to switch to SHA-256 at the end of next week. You will be able to switch it between Scypt and SHA on the fly! We will explain how this will work next week.

So probably 1 Mh/s = 40 Gh/s SHA256, since 10 Gh has 0,02 cost a day and a prime hashlet 0,08.