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

[🏰 TradeFortress 🏰]

https://zeusminer.com/2014/09/10/progress-update-10092014/

A word of warning: We have observed several cloud mining services sprung up in the last weeks on the internet promising fabulous returns for customer’s investments without any attempt to provide transparency. Some of them might be Ponzi schemes which are bound to collapse soon. Be wise and don’t let greed eat your brain!

This is obviously referring to ZenCloud. For some strange reason, GAW loves burning business relationships at every opportunity.

[bitgeek]

https://zeusminer.com/2014/09/10/progress-update-10092014/

A word of warning: We have observed several cloud mining services sprung up in the last weeks on the internet promising fabulous returns for customer’s investments without any attempt to provide transparency. Some of them might be Ponzi schemes which are bound to collapse soon. Be wise and don’t let greed eat your brain!

This is obviously referring to ZenCloud. For some strange reason, GAW loves burning business relationships at every opportunity.

Don't you have better things to do now, like stealing people's money?

[🏰 TradeFortress 🏰]

By the way, this thread is much more readable if you ignore MemCiD, I_IZ_CEO, and bitgeek. Seriously, try it

[bitgeek]

Troll defending troll... Looks like you got stuck at work for the last week, you know what I'm talking about.
I'm so sad that nobody wanted to take your offer of giving me negative trust for 0.2 BTC?
Why did you stop using flexhash? Mom decided not to finance your basement mine?

[crashoveride54902]

He provided no rationale or explanation for not paying the full amount, instead acting as if he was doing me a great favor.  What?

Maybe 45% is the amount after fees? Although if these are PrimeZenHashlets it should be closer to 75%. Do you know if maybe the buyer got paid the other 55%?

This is after all fee deductions already.  He specifically said so.

I have no idea if the buyer got the payment, but since it was in my account for the entire 24 hour period for which the payment was calculated it would not make much sense to pay the buyer instead (granted that with GAW's system it might have happened).  Either way, the fault is GAW's, so it is up to them to fix it even if it means they pay to me and the buyer for one day.

edit: also unable to withdraw my balance from Zenpool still =/


edi #2: Looks like KNC Titans ship out on Monday and can mine Scrypt-N: https://www.kncminer.com/news/news-106

Its still $7K for the bad baby, which is only going to make you $57 a day mining litecoin.....but damn impressive they KNC got it out.....Zeusminer next gen stuff out in december aka the Volcano at $1699....300 gh/s i believe....

don't you mean 300 mh/s knc will ship out 1 unit on monday to say they shipped before the deadline hehe that is just how knc is

[Hazir]

By the way, this thread is much more readable if you ignore MemCiD, I_IZ_CEO, and bitgeek. Seriously, try it

Kind sir, with you account standing and trust rating every honest bitcoin community member should do exactly opposite of what what you suggest. After all every half conscious human can see that you are trolling.

[dekodoge]

By the way, this thread is much more readable if you ignore MemCiD, I_IZ_CEO, and bitgeek. Seriously, try it

Kind sir, with you account standing and trust rating every honest bitcoin community member should do exactly opposite of what what you suggest. After all every half conscious human can see that you are trolling.

[Flep182]

Could everyone stay a little bit more on-topic pleaaaaaase? 

[dekodoge]

Could everyone stay a little bit more on-topic pleaaaaaase? 

[alienesb]

While I have been critical about the info released and the handling of the VB batch 2 miners I do want to make it clear I'm a happy customer. I have almost 400 Primes and every day I'm netting about .26 BTC. Every day like clock work. So, while some of you are spitting mad about Josh, Zen, Eric and his girlfriend... many of us are quite happy overall and earning good coin. Keep that in mind.

[Honeycutt22]

While I have been critical about the info released and the handling of the VB batch 2 miners I do want to make it clear I'm a happy customer. I have almost 400 Primes and every day I'm netting about .26 BTC. Every day like clock work. So, while some of you are spitting mad about Josh, Zen, Eric and his girlfriend... many of us are quite happy overall and earning good coin. Keep that in mind.

Yea, I just want my VB 2 and I have absolutely zero complaints.

[Flep182]

While I have been critical about the info released and the handling of the VB batch 2 miners I do want to make it clear I'm a happy customer. I have almost 400 Primes and every day I'm netting about .26 BTC. Every day like clock work. So, while some of you are spitting mad about Josh, Zen, Eric and his girlfriend... many of us are quite happy overall and earning good coin. Keep that in mind.

Well, as long as they keep paying out I'm also a happy camper. It's just that it would be nice if they stated "we're not really mining with everything we "sell", we make money elsewhere and pay you the amount you would've gotten from mining instead and do mine a bit on the side".

[Honeycutt22]

While I have been critical about the info released and the handling of the VB batch 2 miners I do want to make it clear I'm a happy customer. I have almost 400 Primes and every day I'm netting about .26 BTC. Every day like clock work. So, while some of you are spitting mad about Josh, Zen, Eric and his girlfriend... many of us are quite happy overall and earning good coin. Keep that in mind.

Well, as long as they keep paying out I'm also a happy camper. It's just that it would be nice if they stated "we're not really mining with everything we "sell", we make money elsewhere and pay you the amount you would've gotten from mining instead and do mine a bit on the side".

People who browse the forums daily know that probably... Or if they read here... But likely 90% of people have no clue about that.. Especially the new investors. So, it is very misleading and compounded the problem with NH... People didn't understand that it was a big deal NH was paying out more than they should because GAW doesn't use the NH pool for mining, they simply use it as a measurement for payment.

More transparency would be great.. I don't understand why they don't just have levels of payment. It's confusing as hell to associate it with a particular pool and then have absolutely nothing to do with the pool. GAW and it's members have absolutely no reason to be mad at NH. GAW created the situation entirely - and then Josh alludes to it being NH's fault in a post today. Completely deflecting blame on the rightful source of the problem (GAW). Had they been more transparent (aka honest) about what they do, this would have never been an issue and people would have understood.

There should at least be an note on the sales of the hashlets that basically say, "hey, we use this as a payout measure but in no way actually mine on these pools".

[btczar]

I have 55MH odd and withdraw daily, should get my total ROI in about 30 days. So far everything has been awesome, no problems at all, and I am able to withdraw daily without fail.
I made a spreasheet with figures for one of the 1MH hashlets I have if anyone is interested in seeing the daily payouts. https://docs.google.com/spreadsheets/d/1g3TxmHJrFiQtZv1o0-aroB5ut-CJoQNBTbL1aOQFqTg/edit#gid=0

I think they are using a combination of their cost price per MH for hardware, with their savings for not shipping hardware, combined with the difficulty increases over time, to make sure the hashlets story works. What are the hardware profit margins for buys that buy in huge bulk?

EG, if you buy bulk scrypt miners and get a dirt cheap price / MH overall, then make fat profit on what you resell it for normally, you can provide a 1MH 'hashlet' to a customer, but in reality you are really mining more (like say 2MH for example) for that customer, and keeping the profit for yourself in btc, or buying more hardware.

So you sell them 1MH, but you are really allocating 2MH in the data center which is covered by the customer cost. As long as the customer is mining with you, you are at a good profit. You can also take some of the 'extra' btc and give it back to the customer in bonus schemes.

I dont know how it works, all I  know is that its working perfectly for me....so far

[nicehash]

More transparency would be great.. I don't understand why they don't just have levels of payment. It's confusing as hell to associate it with a particular pool and then have absolutely nothing to do with the pool. GAW and it's members have absolutely no reason to be mad at NH. GAW created the situation entirely - and then Josh alludes to it being NH's fault in a post today. Completely deflecting blame on the rightful source of the problem (GAW). Had they been more transparent (aka honest) about what they do, this would have never been an issue and people would have understood.

Hi.

We are not following this thread regullary, neither have time to swim in the bloat of hashtalk. But we would like to say that we are not affiliated with GAW and any accusation made on our service in realation to GAW is simply wrong. NiceHash is a completely transparent service, those who are following us know that we believe and encourage open free market and all NiceHash users are treated equally. The issues with GAW was simply that our payouts were to high and GAW's business model of no-hashing couldn't sustain this - entirely their flaw. They never contacted us regarding this matter (because there was nothing to solve - our system is and was running as designed - without any issues or changes). Could somebody post some links where GAW is making accusations on NiceHash regarding this matter (we really don't have the time to do the search through hashtalk...)?

[bitgeek]

Your campaign survived whole 10 minutes, troll
That was fast: https://bitcointalk.org/index.php?topic=780100.msg8792162#msg8792162

Any other bright ideas?

[suchmoon]

More transparency would be great.. I don't understand why they don't just have levels of payment. It's confusing as hell to associate it with a particular pool and then have absolutely nothing to do with the pool. GAW and it's members have absolutely no reason to be mad at NH. GAW created the situation entirely - and then Josh alludes to it being NH's fault in a post today. Completely deflecting blame on the rightful source of the problem (GAW). Had they been more transparent (aka honest) about what they do, this would have never been an issue and people would have understood.

Hi.

We are not following this thread regullary, neither have time to swim in the bloat of hashtalk. But we would like to say that we are not affiliated with GAW and any accusation made on our service in realation to GAW is simply wrong. NiceHash is a completely transparent service, those who are following us know that we believe and encourage open free market and all NiceHash users are treated equally. The issues with GAW was simply that our payouts were to high and GAW's business model of no-hashing couldn't sustain this - entirely their flaw. They never contacted us regarding this matter (because there was nothing to solve - our system is and was running as designed - without any issues or changes). Could somebody post some links where GAW is making accusations on NiceHash regarding this matter (we really don't have the time to do the search through hashtalk...)?

https://hashtalk.org/topic/5145/nicehash-sha256
https://hashtalk.org/topic/5145/nicehash-sha256/68
https://hashtalk.org/topic/5145/nicehash-sha256/72
https://hashtalk.org/topic/5145/nicehash-sha256/79
https://hashtalk.org/topic/5145/nicehash-sha256/102
https://hashtalk.org/topic/5145/nicehash-sha256/117
https://hashtalk.org/topic/5145/nicehash-sha256/160
https://hashtalk.org/topic/5145/nicehash-sha256/177
https://hashtalk.org/topic/5145/nicehash-sha256/242
https://hashtalk.org/topic/5209/nicehashlet-no-longer-available/10
https://hashtalk.org/topic/5473/a-friendly-post-about-nh

[pbj sammich]

^ Nice you linked a bunch of posts, but none of them are accusing Nicehash of any wrong doing.

[Honeycutt22]

^ Nice you linked a bunch of posts, but none of them are accusing Nicehash of any wrong doing.

Josh isn't dumb enough to out right say that... it's def. implied tho. More importantly, Josh is saying he is actively working with NH to resolve things and has also implied he is working to buy out NH.

If the guy above is actually a legit NH representative it makes this a bit more interesting as it doesn't jive with what Josh is telling his customers. And... that's a whole nother issue entirely.

[pbj sammich]

So now your using your conclusion that you drew as basis for your argument? That's convenient.

The only mention was that he was in talks to purchase another company, never said NH, people just assumed.