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

[dekodoge]

This is getting slightly embarrassing:

https://bitcointalk.org/index.php?topic=827552

https://hashtalk.org/topic/12390/bitmain-confirmation

Nothing that couldn't be fixed by a little bit of self-moderation and some bans though.

/grabs popcorn

[suchmoon]

Plus this referral thing. Do they need to buy anything? Because if a Genesis hashlet is enough (plus the one for free) a new user would get 20 Gh/s for 7,95. The referring user gets 5 USD in credits to buy roughly 70% of a Genesis hashlet. So essentially, for 7,95 in inflow, they give away about 30 Gh/s. That can be sold in the hashmarket for 18 USD.

Weird move.

It says you can't sell the free Genesis. And if you sell the 2 other hashlets GAW gets more than $7.95, they also get ~$1.2 (the Market fee), so it's close to prices at other "clouds", e.g. hashie is ~$5 per 10 GH/s. And GAW can always "end the promotion" and raise Genesis price back up to 9.95.

[Honeycutt22]

This is getting slightly embarrassing:

https://bitcointalk.org/index.php?topic=827552

https://hashtalk.org/topic/12390/bitmain-confirmation

Nothing that couldn't be fixed by a little bit of self-moderation and some bans though.

/grabs popcorn

It is pretty funny Bitmain didn't confirm that... I don't know why Josh opened himself up to that if he didn't already have Bitmain on board with the confirmation idea... It just makes him look worse.

And this new update is shit... It doesn't help us with our payouts... Zenpool is now a "Normal" pool and this was their biggest selling point. How did they not know that the contract was expiring and they would need to renegotiate??? I highly doubt that's even true at this point..

Now - All their efforts are geared towards keeping more BTC in Zencloud - Reduced payments, account locks/holds, severely late and restricted withdraw limits... EVERYTHING points to them being super low on BTC.

[dekodoge]

Not only is ZenPool experiencing a temporary drop while we renegotiate terms with a few investors,

The smart money has done its DD and realized this is a ponzi and drawn down their investment.

[Honeycutt22]

Not only is ZenPool experiencing a temporary drop while we renegotiate terms with a few investors,

The smart money has done its DD and realized this is a ponzi and drawn down their investment.

Yea I used to be a koolaid drinker... Now I'm super skeptical.. To the point I sold off some of my primes to at least break even. I mean GAW is this big company with all this purchasing and hiring power but they can't get simple everyday things like a payout system to work... Or simple technical support... I just don't get it...

LTCGear is ran by 1 person, yet they almost NEVER have issues... It's because he didn't add all these stupid gimmicks to keep your miners profitable... That and he realizes simpler is better...

[hashie]

I think there's a reason all the big holders sold most of their miners a while ago.

PS: There are cloud mining services that do business right

-Sahra

[Honeycutt22]

I think there's a reason all the big holders sold most of their miners a while ago.

PS: There are cloud mining services that do business right

-Sahra

Actually most of the big holders are still the big holders.. The top 10 Champion list has barely changed since the beginning. But, with the way Josh has operated in the past a lot of them have inside information... So, they know when to sell or keep before the masses.

[suchmoon]

I think there's a reason all the big holders sold most of their miners a while ago.

PS: There are cloud mining services that do business right

-Sahra

Actually most of the big holders are still the big holders.. The top 10 Champion list has barely changed since the beginning. But, with the way Josh has operated in the past a lot of them have inside information... So, they know when to sell or keep before the masses.

Yeah, I wonder how Craig feels about getting his payouts in HashPoints 

[cma3]

What a strange state of affairs. So many layers.

Also, I can make a Top 10 list too.

[Snipe85]

Not only is ZenPool experiencing a temporary drop while we renegotiate terms with a few investors,

The smart money has done its DD and realized this is a ponzi and drawn down their investment.

Yea I used to be a koolaid drinker... Now I'm super skeptical.. To the point I sold off some of my primes to at least break even. I mean GAW is this big company with all this purchasing and hiring power but they can't get simple everyday things like a payout system to work... Or simple technical support... I just don't get it...

LTCGear is ran by 1 person, yet they almost NEVER have issues... It's because he didn't add all these stupid gimmicks to keep your miners profitable... That and he realizes simpler is better...

Maybe that's why he still has cash to pay people, because he doesn't have any employees, but this can quickly turn around.
I think mining is runing on fumes since BTC went below $400.

[eightcylinders]

I think there's a reason all the big holders sold most of their miners a while ago.

PS: There are cloud mining services that do business right

-Sahra

Actually most of the big holders are still the big holders.. The top 10 Champion list has barely changed since the beginning. But, with the way Josh has operated in the past a lot of them have inside information... So, they know when to sell or keep before the masses.

What I would like to know is how many of those 1% are resellers, employees or other insiders who purchases or were given their hashlets at deep discounts.  It would not surprise me if employees or partners are paid in part in hashlets... If so the list would be highly misleading.  Again, the lack of disclosure makes gaw open to these concerns.

Also, how many people would have bought prime or zen hashlets if you had known that your money would be used to purchase miners that would be rented out with the proceeds from rental being the main source of profit for zenpool (and is that 100% of profit or does gas take a management fee first)?!

[cma3]

Zencloud is catching a bad one now too. At first laggy, now completely inaccessible.

Not a good look.

[Honeycutt22]

Zencloud is catching a bad one now too. At first laggy, now completely inaccessible.

Not a good look.

Probably another DDOS

[dekodoge]

Zencloud is catching a bad one now too. At first laggy, now completely inaccessible.

Not a good look.

Probably another DDOS

GAW are AWESOME.

If the CEO likes what you say you get 100 tokens to spend in the mine shop or pub.

[spacewalker1]

- 500 hashpoints for every referred purchaser
- mining hashpoints with the hashpoint pool
- limited halloween hashlets

i am not amazed at all. is there any way to convert hashpoints into btc or fiat? even if they bring up the purchase of hashlets by using hashpoints someone has to load up his account with btc/$ in order to buy my hashlet financed by hashpoints. They keep dragging money into their company and lower the payouts. "To conquer the falling payout rates" they introduce changes that keep the money in their circle. If they won't show up with an option converting hashpoints to btc/$ i am gonna be really pis***. 

[bitgeek]

Zencloud is catching a bad one now too. At first laggy, now completely inaccessible.

Not a good look.

Probably another DDOS

Somebody felt touched by the recent announcement and is showing appreciation.

[suchmoon]

So what's next? I'm guessing: another rushed untested ZenCloud update to implement the "features" promised in the announcement; waffle/multi/clever hashlets become essentially worthless (not able to mine HashPool and struggling to mine more than zero BTC); zen hashlet price in the Market could drop until some equilibrium point between ZenPool and HashPool mining profits; good times for all those BTCjam borrowers who invested in hashlets.

Here the only positive I can figure out at this time - this is a great opportunity for someone who believes that ZenPool negotiations will succeed and that HashBase will change the world and that HashPoints is this new GAW cryptocurrency they've been hinting at.

[chmick]

Hello all

I question after today payout (to see if I'm the only one in this case)

according to the rate page : genesis guild gives about 0.00001398 BTC (i assume it is per GHS)

so if you have 3000GHS it should be 0.04194BTC  per day . minus the fee (0.02$/10ghs ) 6$ or 0.0166BTC   It makes    around 0.025 BTC .

So why do I have only a paiement of 0.017 BTC for 3THS genesis ??

[suchmoon]

Hello all

I question after today payout (to see if I'm the only one in this case)

according to the rate page : genesis guild gives about 0.00001398 BTC (i assume it is per GHS)

so if you have 3000GHS it should be 0.04194BTC  per day . minus the fee (0.02$/10ghs ) 6$ or 0.0166BTC   It makes    around 0.025 BTC .

So why do I have only a paiement of 0.017 BTC for 3THS genesis ??

The site seems to be down now, so I can't check my numbers, but your math seems to be correct. Are you sure you didn't get any other payments? They've been sending a bunch of random "account credits" recently. What amounts are actually showing in your "Latest Activity" or do you have too many miners to figure that out? Other than that I'd suggest to file a support ticket.

[Rupture]

Site is down?!