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

[crazyivan]

So WTF is this then? How do they make money to pay off their users? I don't think this can be an ordinary ponzi, everybody knows info about owners and the company, if they scam so many people, they ll be in jail for millions of years. There must be some other agenda behind this.

I agree with you....


but have you heard of Mt Gox?

Sure but Mt.Gox was an established business with clear business plan and strategy which could have generated profit for the company. Their owner being a scammer is a completely separate issue.
On the other hand, I cannot identify this business strategy part when talking about hashlets, how do they plan to make money, at least in theory. Once this is identified, then we should talk about whether they are able to execute that business strategy.

[alani123]

So WTF is this then? How do they make money to pay off their users? I don't think this can be an ordinary ponzi, everybody knows info about owners and the company, if they scam so many people, they ll be in jail for millions of years. There must be some other agenda behind this.

Have you heard of Bernie Madoff? He was very well known and respected in his community and field. He was active in charity also. He made lots of people lots of money. He was also a crook running one of the largest ponzis ever known.

Ponzi scams operate by being public. If people haven't heard of you then your ponzi isn't very good.

Besides that GAW miner CEOs have never publicly given money to charity and before their GAWminers venture they were mostly known for taking taxpayer money through their telecommunications company in order to build phone towers but never actually building them. They've even scammed in the past.   

[AlphaD]

So WTF is this then? How do they make money to pay off their users? I don't think this can be an ordinary ponzi, everybody knows info about owners and the company, if they scam so many people, they ll be in jail for millions of years. There must be some other agenda behind this.

Have you heard of Bernie Madoff? He was very well known and respected in his community and field. He was active in charity also. He made lots of people lots of money. He was also a crook running one of the largest ponzis ever known.

Ponzi scams operate by being public. If people haven't heard of you then your ponzi isn't very good.

Besides that GAW miner CEOs have never publicly given money to charity and before their GAWminers venture they were mostly known for taking taxpayer money through their telecommunications company in order to build phone towers but never actually building them. They've even scammed in the past.   

I have read this in the past. Any proof of this?

[suchmoon]

how do they plan to make money, at least in theory

The best I can suggest is question #2 in the OP:

2) Q: How does ZenPool achieve its Scrypt profitability? A: Unknown.

Suggested possibilities include supplemental sources of income such as mining Scrypt-N, daytrading, and private rentals, confirmed in e-mails between some forum members and GAW CEO.
https://bitcointalk.org/index.php?topic=720844.msg8601489#msg8601489
https://bitcointalk.org/index.php?topic=720844.msg8587832#msg8587832

[AlphaD]

how do they plan to make money, at least in theory

The best I can suggest is question #2 in the OP:

2) Q: How does ZenPool achieve its Scrypt profitability? A: Unknown.

Suggested possibilities include supplemental sources of income such as mining Scrypt-N, daytrading, and private rentals, confirmed in e-mails between some forum members and GAW CEO.
https://bitcointalk.org/index.php?topic=720844.msg8601489#msg8601489
https://bitcointalk.org/index.php?topic=720844.msg8587832#msg8587832

Laughable that the businesses are run by 'highly trained businessmen'. Almost every staff member at GAW has the last name Garza. I know that is a common last name but really lol I don't have 10 smiths at my work. If my business was actually so successful you would think they would actually have some highly trained staff. Or at least a spell checker.

[AlphaD]

Mostly what I can see reading through this thread is that the proof that GAW has that they are legit is as solid as the proof from here that they are not.

Do private investigators actually exist in the US? How much would hiring someone to do a proper investigation? Or contact the IRS to audit them. I am sure they would be very interested to see how they are generating so much profit especially considering the ease with which you can avoid tax by accepting btc as payment.

Just a thought. That way there would be some solid proof of either their legitimacy or their crime.

[alani123]

So WTF is this then? How do they make money to pay off their users? I don't think this can be an ordinary ponzi, everybody knows info about owners and the company, if they scam so many people, they ll be in jail for millions of years. There must be some other agenda behind this.

Have you heard of Bernie Madoff? He was very well known and respected in his community and field. He was active in charity also. He made lots of people lots of money. He was also a crook running one of the largest ponzis ever known.

Ponzi scams operate by being public. If people haven't heard of you then your ponzi isn't very good.

Besides that GAW miner CEOs have never publicly given money to charity and before their GAWminers venture they were mostly known for taking taxpayer money through their telecommunications company in order to build phone towers but never actually building them. They've even scammed in the past.   

I have read this in the past. Any proof of this?

Here's where found this information from.

http://www.reddit.com/r/litecoinmining/comments/1yh23g/has_anyone_here_sold_their_own_rig_on_ebay_and/cfkvbbk

[Flep182]

If they've invested in a huge batch of Ant S3's (or similar efficient hardware) and see 40 gh as 1 mh it's easy to see where they earn their profit. For now SHA is paying out more than scrypt so this could've been a very cheap way to get a large amount of SHA mining power while paying only part of the revenue for a "unit".

Payouts I initiated yesterday weren't paid out, tried it again and showed up in my wallet right away.

[AlphaD]

So WTF is this then? How do they make money to pay off their users? I don't think this can be an ordinary ponzi, everybody knows info about owners and the company, if they scam so many people, they ll be in jail for millions of years. There must be some other agenda behind this.

Have you heard of Bernie Madoff? He was very well known and respected in his community and field. He was active in charity also. He made lots of people lots of money. He was also a crook running one of the largest ponzis ever known.

Ponzi scams operate by being public. If people haven't heard of you then your ponzi isn't very good.

Besides that GAW miner CEOs have never publicly given money to charity and before their GAWminers venture they were mostly known for taking taxpayer money through their telecommunications company in order to build phone towers but never actually building them. They've even scammed in the past.   

I have read this in the past. Any proof of this?

Here's where found this information from.

http://www.reddit.com/r/litecoinmining/comments/1yh23g/has_anyone_here_sold_their_own_rig_on_ebay_and/cfkvbbk

Doesn't really say much though. The links don't provide much evidence. Just to say there would be potential delays for finishing the wireless stuff. Any proof they didn't go through with it?

[suchmoon]

If they've invested in a huge batch of Ant S3's (or similar efficient hardware) and see 40 gh as 1 mh it's easy to see where they earn their profit. For now SHA is paying out more than scrypt so this could've been a very cheap way to get a large amount of SHA mining power while paying only part of the revenue for a "unit".

That would be feasible in theory. But then why do they need all this charade of Scrypt mining, publicity pictures of Zeus hardware etc. And 10 PH/s - or whatever the hashrate should be to sustain the payouts - is A LOT of hashrate, even for Bitcoin. Not easy to hide and even more puzzling - why hide it. Then you'd have to increase the mining capacity by 10-20% every ~2 weeks to keep up with the rising difficulty or the ZenPool payouts couldn't have stayed as high as they are. I guess what I'm trying to say is that if they pulled this off it would be a much more compelling story to tell than all the wobbly PR speak they've done so far.

[alani123]

I presume none of admins of these pools has ever identified these hashlets mining at their pools?

Nope. And when questions kept being asked GAW did this (also #4 in the OP):

https://bitcointalk.org/index.php?topic=720844.msg8533761#msg8533761

I will argue with your post there, you're misinforming people.
There are pictures with open setups (no isle separation) everywhere. You haven't seen any other setups, have you?
I also believe they showed the real data center pictures and a warehouse full of miners getting ready to be plugged.

And a day after zen changed the agreement to say that the miners are virtual. They just keep contradicting themselves over and over. Seeing newly created account support them fanatically just makes this more suspicious.

[s1gs3gv]

Here's a quote for refrence:

Can we get some some information on if and how the hashlet has affected trademybit? This would be interesting.

Hasn't affected TMB at all, we're not getting any hash from them.

And another one:

I own/operate Multipool.us.  If someone from GAW miners can give me your username(s) on the pool, I can verify your hashrate.  Or, you can set up a "handle" via the account page and it will appear rather than your User ID under the top hashrates for each coin (assuming you are within the top 15, which should be easily within your capabilities.)

For the record, I have not been contacted (to my knowledge) by anyone at GAW miners about setting up an account, IP whitelisting what would most likely be a massive number of workers, etc.

And another one:

There is zero truth to this whatsoever.  The "out of town" is family business (I'm still here, just much less active for the week).  I've never had any contact with ZenMiner (at least that I know of, it might have been a user contacting me affiliated with them, but if so, they didn't make it known they had an association with ZenMiner).  On another note, that droplet isn't one of our icons (we don't have any icons on WP), I think they just grabbed an image that would roughly describe "pool" and used it for us (and for them).

I've been watching a bit of the ZenMiner stuff (bought a 1MH for testing), and while I don't want to comment on it much, when pointing that 1MH from ZenMiner to WP, I can't find that 1MH showing up anywhere in the pool logs.  It might be too small and get lost in the noise (if someone has a 100MH+ account on ZenMiner, please contact me if you'd like to help test for a few hours).

Sure looks like there could some waffling, twisting of bits, and multi-poo going on here at GAW !

~L)L~

[btcm4n14c]

meanwhile some of u scream SCAM, in 19 days i made 530$ back from a 1600$ investment

PS : bought hashlets from first day

[chmick]

meanwhile some of u scream SCAM, in 19 days i made 530$ back from a 1600$ investment

PS : bought hashlets from first day

Hi

good  but did you check your balance today  ?

In my case , i see the paiment in the history, but my balance is still late !

Strange since i saw in the pop up at lgin than they fixed the problem ..
 

[rdyoung]

meanwhile some of u scream SCAM, in 19 days i made 530$ back from a 1600$ investment

PS : bought hashlets from first day

Hi

good  but did you check your balance today  ?

In my case , i see the paiment in the history, but my balance is still late !

Strange since i saw in the pop up at lgin than they fixed the problem ..
 

Thats how their system works. I think it runs all "payouts" first, and then updates all balances. I have payouts in all of my accounts, but the balances don't reflect it yet.

[btcm4n14c]

meanwhile some of u scream SCAM, in 19 days i made 530$ back from a 1600$ investment

PS : bought hashlets from first day

Hi

good  but did you check your balance today  ?

In my case , i see the paiment in the history, but my balance is still late !

Strange since i saw in the pop up at lgin than they fixed the problem ..
 

Thats how their system works. I think it runs all "payouts" first, and then updates all balances. I have payouts in all of my accounts, but the balances don't reflect it yet.

yea, something like that here too

[alienesb]

meanwhile some of u scream SCAM, in 19 days i made 530$ back from a 1600$ investment

PS : bought hashlets from first day

I guarantee you won't make your total investment back.

While I'm annoyed about the vb batch 2 getting fucked I don't think you're right on this. Also, where is the proof you've been scammed? I mean that should be pretty fucking easy to provide. I can find my receipts, credit card statements, btc transfers, it's pretty easy dude.

You and flexhash should get together for a beer.

[rdyoung]

meanwhile some of u scream SCAM, in 19 days i made 530$ back from a 1600$ investment

PS : bought hashlets from first day

I guarantee you won't make your total investment back.

Will you guarantee that with your own btc? Would you like to place a bet on that?

[rdyoung]

don't you guys find this alittle odd? Zenhash 2 gave me 0.00074859 but zenhash 1 gave me 0.00064457...both same 1mh/s same pool since there solos...why should they not be the same payout? i can see a tiny bit a diff. but 0.0001 diff is alot considering its suppose to be the same thing and nicehashlet beat'em both at 0.0007594 so i guess josh can change his statement about zenpool "always" being the most profitable pool to "most of the time" most profitable pool and then if you take my 3mh/s prime and divide it comes to 0.00068942666 per mh/s hmm, maybe their calc. variance into the payout to try n make it look like they really are mining...idk and then i decided to see what my war machine does per mh/s and its 0.00062285964 all on zenpool...all different numbers and it seems the more mh/s ya have in one unit...the less it pays out per mh/s

This has had me curious for sometime. Cexio for example, if you buy 1gh, your balance shows 1ghs, on the pool side it will show variance as all hardware does, but you still have 1ghs. Why are we seeing variance on our dashboard? And if most of the profits do come from daytrading and rented hashrate, we shouldn't see any variance at all. If we bought, 1mhs we should get paid for 1mh.

meanwhile some of u scream SCAM, in 19 days i made 530$ back from a 1600$ investment

PS : bought hashlets from first day

I guarantee you won't make your total investment back.

that is a bold statement memcid....that you can't really back up I mean you've seen my posts in this thread so ya know i'm no koolaid drinker, but i wouldn't go that far and make a statement like that unless i knew for a fact that this system was about to come crashing down...I mean hell i started with zenminer with a war machine on 7/26 and now i'm 50% roi'd and i also have another 5mh/s & 10gh/s that i bought with the money i was making from the war machine...

That is indeed a bold statement and I wonder if he/she is willing to put their money where their mouth is. If zen allowed for view only access, I would buy a hashlet in a new account and share the info so the world can see how much has been made. Out of the 3 accounts I have, 1 currently has 15mhs and is setup for autopurchase, I figure why the hell not, if goes belly up, wahhhh, if it doesn't, then mo money, mo problems.

[rdyoung]

My payouts today for my first account.

Zenhashlet Gift = 0.00071135
Fury gift Converted to prime = 0.00096417
Converted fury = 0.00091735
Converted fury = 0.00095677