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

[KC6TTR]

For those who need more clarification... review what is shown below and then ask yourself, "Self, does this remind you of anything...or anyone?"

[galdur]

2014-05-28 01:35 PM

BTC to break $2,000 mark by Christmas – Experts

In an exclusive to CoinTelegraph, 58 high-flyers from the Bitcoin community attending Amsterdam Bitcoin2014, predict where Bitcoin will be on Christmas day 2014. While some experts compared the task to attempting to forecast the weather on Christmas day – the time of year gives us a pretty good indication what the weather will be doing, and the predictions of some of our experts make a lot of sense given the current Bitcoin climate.

http://cointelegraph.com/news/111597/btc_to_break_2_000_mark_by_christmas_experts

"""While some experts were quietly positive, suggesting that the price would be sitting at the US$800 mark – this figure seems conservative given the increase in Bitcoin over the past week in which it has climbed over 30%. The majority of experts who were willing to venture a guess thought that Bitcoin would be worth more than US$1,000, with several experts placing the value between US$2,000 and US$5,000.
Of special interest were predictions by Sam Cole from KnCMiner who said:

“Large financial players are entering the market this year. I am talking to some of them. If they are to become involved they need the coin to be valued at around US$2,000 to US$3,000… So I am predicting around US$2,000 to US$3,000.”
Interestingly, Dr. Marco Krohn from Genesis Mining suggested the same figure of US$2,000 to US$3,000. What is it that miners know that the rest of us don’t? It seems they are expecting a second Bitcoin rush this year."""

Et cetera, et cetera.

Now; consider the extreme bullishness THEN and the investment situations of these experts and geniuses NOW.

[galdur]

So, NOW staggering overinvestment and overcapacity in mining. The market will of course continue to try to get rid of this overcapacity by bidding down the price of the produce, BTC.

The desperation of GAW and some other operations though not yet so much out in the open there should be viewed in this light.

[alienesb]

I can't get over how people think the market cap of this is going to surpass BTC, let alone LTC. It's just not going to happen. I think the most comparable coin would be Ripple and that is not really doing all that well considering the lofty goals it had.

[galdur]

Two bit operator is gonna be the next microsoft, cisco, intel and nowadays bitcoin.

Nothing new, heard it a thousand times.

[bitcoinnoisseur]

I'm betting Josh was either bullied when he was young or didn't ever make many friends. He craves attention so bad. I have never seen anything more pathetic than a CEO not only JUST creating a twitter account but BEGGING anyone and everyone to follow him. That coupled with the again BEGGING of HT users to please please please say good things about me and my company so we can stop all the non-believers. Damn those educated people with backbones and real friends refusing my koolaid. I've done so much for them. ME ME ME. Everyone look at ME and what I thought up all by myself. I'm a genius and I deserve praise and friends too. MtGAW is definitely appropriate. Young failed wannabe real businessmen that are NOT of the cut it takes to be something special. I bet he barely graduated HS. We know he has NO formal education past that. Yes I know there have been geniuses that have balked at formal education and succeeded but Josh is NOT a genius by any measurement. He talks a good game to his weak minded disciples akin to Jim Jones. That is where the Koolaid references came from. I think its far beyond just greed now and he has some of the weakest minds following him. They simply can not or will not see the obvious. They will seemingly do anything and everything he says when he says it without question. GAW and it's followers may turn out to be one hell of a psychological doctoral theses for someone.

Personally I have multiple HT accts I use for different reasons. It's kinda fun building up a fake reputation and see how long it lasts as you blast into these fools with the truth and your shadow-banned to oblivion. As we all know it only takes minutes and sometimes seconds if the right disciple(Any of his mods) is reading your posts. I knew within days that I had got in on a Ponzi scheme. I told friends and family I did but joked that I got in early and those people get paid. LOL. I paid $599 for a GAW War Machine from Oneminer.com. Within days it got converted to Zen Hashlets and then into Prime Hashlets. So I only paid $599/55MHs = $10.89/MH. However, I did get a little caught up and bought some more Zens with BTC profit. I'm trying to milk the most I can out of what I have left. All my Primes and Zens are for sale(cheap) and I'm only mining HP's. I want to get out ASAP and take everything to LTCG or elsewhere and use my HP's for this ridiculous ICO and maybe make a quick buck. I realize I'm going to have to slowly withdraw my BTC as to not set off any alarms and have my acct locked. Fucking Absurd but it is what it is.

[alienesb]

I realize I'm going to have to slowly withdraw my BTC as to not set off any alarms and have my acct locked. Fucking Absurd but it is what it is.

I play it safe and only take out 4 BTC at a time and send it to coinbase because that seems to go through every time where my personal wallet sometimes get's the big "Can't process right now."

[Honeycutt22]

I realize I'm going to have to slowly withdraw my BTC as to not set off any alarms and have my acct locked. Fucking Absurd but it is what it is.

I play it safe and only take out 4 BTC at a time and send it to coinbase because that seems to go through every time where my personal wallet sometimes get's the big "Can't process right now."

Yea I'm stuck in a BTC hold pattern AGAIN... did the 9 BTC specifically to avoid it, but noooooooo... They have to make sure they have the BTC in their wallet to support a large transaction like 9 BTC...

They must really be super low on reserves, there's no reason to stop withdraws of 10 btc for a multi-million dollar company!!

[jimmothy]

We already reached out to Amazon, Walmart and Target for all three to give us an official response. I'll put it this way, one of them said (off the record for now) if GAW keeps using the XYZ name as a "partner" they will be forced to take legal action.

https://www.reddit.com/r/Bitcoin/comments/2l7myv/can_we_talk_about_gaw/

What a great company!

[suchmoon]

They must really be super low on reserves, there's no reason to stop withdraws of 10 btc for a multi-million dollar hashcoin company!!

TFTY

[Honeycutt22]

They must really be super low on reserves, there's no reason to stop withdraws of 10 btc for a multi-million dollar hashcoin company!!

TFTY

lol.... yea paying in hashcoin kinda supports my point!!! They don't have the BTC to do payouts...  Thanks for the correction tho!!!:)

[suchmoon]

We already reached out to Amazon, Walmart and Target for all three to give us an official response. I'll put it this way, one of them said (off the record for now) if GAW keeps using the XYZ name as a "partner" they will be forced to take legal action.

https://www.reddit.com/r/Bitcoin/comments/2l7myv/can_we_talk_about_gaw/

What a great company!

One thing that's still bothering me is why did they convert old hardware and Vaultbreakers 1:1 to Prime hashlets (and not e.g. to Zens or at a different ratio) and created such a huge incentive to take profits often as high as 300%. Was it because there was no other way to get out of the Vaultbreaker preorder? No money for refunds? Was the hope there that giving a huge profit while promising even more will keep the funds in ZenCloud? But instead looks like more people are withdrawing more BTC than anticipated because the whole thing suddenly got so much weaker since around mid-October. Super low ZenPool payouts, weird clawbacks, never ending withdrawal issues, mine hashpoints or else.

[Honeycutt22]

We already reached out to Amazon, Walmart and Target for all three to give us an official response. I'll put it this way, one of them said (off the record for now) if GAW keeps using the XYZ name as a "partner" they will be forced to take legal action.

https://www.reddit.com/r/Bitcoin/comments/2l7myv/can_we_talk_about_gaw/

What a great company!

One thing that's still bothering me is why did they convert old hardware and Vaultbreakers 1:1 to Prime hashlets (and not e.g. to Zens or at a different ratio) and created such a huge incentive to take profits often as high as 300%. Was it because there was no other way to get out of the Vaultbreaker preorder? No money for refunds? Was the hope there that giving a huge profit while promising even more will keep the funds in ZenCloud? But instead looks like more people are withdrawing more BTC than anticipated because the whole thing suddenly got so much weaker since around mid-October. Super low ZenPool payouts, weird clawbacks, never ending withdrawal issues, mine hashpoints or else.

Yea... it's more than a coincidence that everything went to shit around the same time.. That's when there accountants were like we can't sustain this!!

[jimmothy]

We already reached out to Amazon, Walmart and Target for all three to give us an official response. I'll put it this way, one of them said (off the record for now) if GAW keeps using the XYZ name as a "partner" they will be forced to take legal action.

https://www.reddit.com/r/Bitcoin/comments/2l7myv/can_we_talk_about_gaw/

What a great company!

One thing that's still bothering me is why did they convert old hardware and Vaultbreakers 1:1 to Prime hashlets (and not e.g. to Zens or at a different ratio) and created such a huge incentive to take profits often as high as 300%. Was it because there was no other way to get out of the Vaultbreaker preorder? No money for refunds? Was the hope there that giving a huge profit while promising even more will keep the funds in ZenCloud? But instead looks like more people are withdrawing more BTC than anticipated because the whole thing suddenly got so much weaker since around mid-October. Super low ZenPool payouts, weird clawbacks, never ending withdrawal issues, mine hashpoints or else.

Does the vaultbreaker actually exist? I'm guessing it's all a part of the scheme.

[alienesb]

We already reached out to Amazon, Walmart and Target for all three to give us an official response. I'll put it this way, one of them said (off the record for now) if GAW keeps using the XYZ name as a "partner" they will be forced to take legal action.

https://www.reddit.com/r/Bitcoin/comments/2l7myv/can_we_talk_about_gaw/

What a great company!

One thing that's still bothering me is why did they convert old hardware and Vaultbreakers 1:1 to Prime hashlets (and not e.g. to Zens or at a different ratio) and created such a huge incentive to take profits often as high as 300%. Was it because there was no other way to get out of the Vaultbreaker preorder? No money for refunds? Was the hope there that giving a huge profit while promising even more will keep the funds in ZenCloud? But instead looks like more people are withdrawing more BTC than anticipated because the whole thing suddenly got so much weaker since around mid-October. Super low ZenPool payouts, weird clawbacks, never ending withdrawal issues, mine hashpoints or else.

Does the vaultbreaker actually exist? I'm guessing it's all a part of the scheme.

I think it doesn't as well just like the Zeus Volcano. Those two work hand-in-hand on many things so no surprise they both crapped out on delivering what they said they would.

[Honeycutt22]

We already reached out to Amazon, Walmart and Target for all three to give us an official response. I'll put it this way, one of them said (off the record for now) if GAW keeps using the XYZ name as a "partner" they will be forced to take legal action.

https://www.reddit.com/r/Bitcoin/comments/2l7myv/can_we_talk_about_gaw/

What a great company!

One thing that's still bothering me is why did they convert old hardware and Vaultbreakers 1:1 to Prime hashlets (and not e.g. to Zens or at a different ratio) and created such a huge incentive to take profits often as high as 300%. Was it because there was no other way to get out of the Vaultbreaker preorder? No money for refunds? Was the hope there that giving a huge profit while promising even more will keep the funds in ZenCloud? But instead looks like more people are withdrawing more BTC than anticipated because the whole thing suddenly got so much weaker since around mid-October. Super low ZenPool payouts, weird clawbacks, never ending withdrawal issues, mine hashpoints or else.

Does the vaultbreaker actually exist? I'm guessing it's all a part of the scheme.

No updates, pictures or any other type of info yet... It's supposed to be shipped "soon"... Not sure of exact date, but they better hope it's real because people are still waiting on theirs to be shipped.

[alienesb]

Good point, I wonder how they are dealing with the people that got A2s to hold them over with the recent email that said they are getting rid of all of their GAW hosted miners. The customers can't be happy about this.

[suchmoon]

Good point, I wonder how they are dealing with the people that got A2s to hold them over with the recent email that said they are getting rid of all of their GAW hosted miners. The customers can't be happy about this.

Easy. They can get Zens 1:1. Mine HPs that are all the rage now.

[suchmoon]

Does the vaultbreaker actually exist? I'm guessing it's all a part of the scheme.

Of course it doesn't. Whether it was originally part of it I don't know but after the ridiculous "competition" with KNC on specs and delivery dates it was fairly evident they can't deliver 750 MH/s at 1 kW on time if ever. But the advertised deadline was "beginning of Q4", so by the most generous definition of "beginning" we can wait until November 15 to start beating that particular dead horse.

[MOB]

Did anyone actually read this GAW "whitepaper"?  While I have read BTC's whitepaper, I cannot pretend to understand all of it.

However GAW's seems either deliberately nonsensical, or impossible. Can anyone provide a gloss of the below passages that renders them accurate? Grammar/word-choice is minor, but the rest?

HashCoin provides a solution to this sudden block reward halving a Growth-Protection reward scheduling system derived from thermodynamic closed systems exchange of energy.

Is that supposed to mean something? Clearly a word is missing in that sentence, but so is what precisely is derived from this "thermodynamic closed system." Sure seems like gibberish.

HashCoin uses a SHA-256 Proof-of-Work hashing algorithm to protect and progress the transactional nature of the coin.

Is this jargon from ICO's or something? One can understand the gist of what they meant by progress, but it smacks more of a non-native English speaker.

The formula for Bitcoin’s block rewards appears as follows:


                Rh = R0 * 2 -[h/p]

                h = get block height
                p = designated reward halving period
                R0 = first block reward of blockchain
                Rh = reward for block h
                [ ] = leading/trailing baseline function
                
HashCoin modifies this formula to provide a smoother declination process for the block rewards ensuring the mining benefits through the growth of the coin.


                Rh = 4/3 ( Rh - ( Rh * h mod p / 2p )

Why would you have the variable you are solving for on both sides of the equation?

So one computes the reward for a block by already knowing the reward for the block at two other points in the calculation?

Circular reasoning doesn't work in logic, why would it suddenly work in math?

1.2 Billion HashCoins minted over the 15 year life of coin.
8% coin block established for ICO distribution.

1.2 billion x .08 = 96 million
96 million x $20= $1,920,000,000 USD valuation at launch

There are ~500,000 primes on ZenPool, so each prime will pre-mine $3,840 USD? Really? Each prime?

If they allow Zenhashlets to mine, then we get that number down to what? $2,000 USD per 1MH? Higher? (Supposedly, on HT, CEO has stated there are more Primes sold than any other product)

How is that even possible? That would require GAW to have taken each $1 everyone has ever given them, then made a 7680% return on that $1 all the while paying everyone payouts.

We know they have no VC or backing from any major corporations as they have not even gotten to that stage of the funding. I don't think GAW's supposed "30,000,000 USD" = $1,920,000,000 USD. In fact, that equals 1.56% of the amount of USD needed to actually guarantee this price.