I am tempted to buy some hashlets , should I?

[arnuschky]

For me personally, any question regarding mining starts with "I am tempted to..."
Simply because I love the technology and idea of creating money at home.

Thinking rationally about it, the answer is always, unequivocally: no, I shouldn't.
Maybe the same applies to you? 

[EvilPanda]

A few things I'd like to address here:

Woot because not having scammed someone yet in all of of 6 months is the surest sign of not scamming one in the future.  You are trading an irreversible payment for a reversible promise.  The longer the time frame of that reversible promise the higher the chance it will end up being broken.  For good examples see every single asic manufacture to date but hey gaw will be different. 
The bigger the data center the larger the fixed expenses are and that needs to be earned back. (...)

Not completely true, because you can pay with a credit card, so the transaction is reversible.
So how long do they have to run without scamming anyone to earn your trust?

a  minus to all this is the GAW customer support that sucks!!
I have a hashlet and waiting to make ROI still paying but not convinsed to purchase more

I agree, support is their weakest link right now. The tickets are being answered it just takes a bit too long.

Pics don't prove their legitimacy but I'd still love to see them. So far I've only seen a bunch of unplugged miners in a warehouse that they claimed was mining but was clearly not.
Side note: Why are 100% of your posts GAW related?

There are some pictures in these threads.
https://hashtalk.org/topic/6512/another-new-hahslet-home
https://bitcointalk.org/index.php?topic=720844.msg8452780#msg8452780

I've made over 1600 posts on the forum and if you look closely you'll see that not even 20% is about GAW.

[coinits]

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

[Hazir]

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

Maybe you should be more patient? Because I heard they are working on smoothing things out now and whole customer service will be a lot better. So why you want to resign when the ROI is really good? Armor yourself with little patience and have some faith. GAW will deliver, they always do.

[sifter]

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

Well you have to be patient for you to get your ROI, just because you're not returning doesn't mea you can get a refund, you should roi in time, if you don't you should make close to it, you can always sell it on the hash market too.

[Unacceptable]

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

I've got 15mh too,I withdrew my BTC a few days ago,it was only .04 BTC but went smoothly,no issues & on the first try,you sure you did it correctly

Not sure how you could screw it up,but you never know 

I figure 3 months at least for ROI,maybe longer if the network grows faster than I calculated.........which I've been wrong before 

BTW,the Zens look to be the most consistant high payout,waffle is up ATM,but it may not last 

My main worry is,if they go under,all investments are lost.Hope they stick around for 3 more months at least 

[GAW_Amber]

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

Hi if there is anything I can do to help, I will. Can you please send me your order number and ticket number, if you have one. I will contact our Customer Service Manager and we will work with you to find a happy solution.

Sincerely,
Amber
amber@gawminers.com

[coinits]

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

Hi if there is anything I can do to help, I will. Can you please send me your order number and ticket number, if you have one. I will contact our Customer Service Manager and we will work with you to find a happy solution.

Sincerely,
Amber
amber@gawminers.com

I did a withdrawal of BTC today and for the first time it worked on the first attempt. I'll go back to lurking in this OP. All is good for now.

[SMB-2525]

[The $0.08 is for their scrypt miners. For Bitcoin miners its $0.01 per 5 GH SHA-256

So that is $2/day/THS operating expense.
Up front cost looks like $895/THS. This will produce roughly 1.9 BTC by Sept 2016 and then essentially flatlines at 10% difficulty increases. It goes negative on operating expense after producing 1.4 BTC. This assumes BTC makes it back to $500. At $400 it goes negative on operating cost by Feb 2015 after producing 1.3 BTC.

At BTC less than $400 - you should spend the fiat on BTC rather than buying hashlets. In fact, if GAW was confident difficulty increases do not plummet, they can buy the BTC and pay it out over the productive life of the hashing power. They will pay out less BTC than the amount purchased and get $2/day/THS from the credulous customer.

I don't see any scenario in which one of these going into production today is better than just buying the BTC. BTC needs to recover to over $500 before the analysis even becomes plausible. I don't know what they are guaranteeing, but low BTC price today means people should buy BTC rather than buy new hashing power.

I think GAW promised they would never go negative on operating costs. So lets assume BTC eventually stays at $400 during the productive live of this hashing power. That means the hashing power produces that same 1.9 BTC before flatlining. You will have paid them $290 in operating cost. Today, if you can buy BTC @ $400, you get 2.2 guaranteed and no operating cost payout. Note, if BTC price increases during the productive life, you end up paying more in operating cost.

So lets assume average difficulty increase drops all the way to 8% (unlikely, but possible), then you end up paying $360 in operating costs before GAW zeroes them out but now will produce 2.3 BTC.

So right now $400 BTC price, you have to assume difficulty increases drop below 8% just to get more BTC from the mining than from  just buying BTC.

This is a great deal for GAW.

[CrackedLogic]

[The $0.08 is for their scrypt miners. For Bitcoin miners its $0.01 per 5 GH SHA-256

So that is $2/day/THS operating expense.
Up front cost looks like $895/THS. This will produce roughly 1.9 BTC by Sept 2016 and then essentially flatlines at 10% difficulty increases. It goes negative on operating expense after producing 1.4 BTC. This assumes BTC makes it back to $500. At $400 it goes negative on operating cost by Feb 2015 after producing 1.3 BTC.

At BTC less than $400 - you should spend the fiat on BTC rather than buying hashlets. In fact, if GAW was confident difficulty increases do not plummet, they can buy the BTC and pay it out over the productive life of the hashing power. They will pay out less BTC than the amount purchased and get $2/day/THS from the credulous customer.

I don't see any scenario in which one of these going into production today is better than just buying the BTC. BTC needs to recover to over $500 before the analysis even becomes plausible. I don't know what they are guaranteeing, but low BTC price today means people should buy BTC rather than buy new hashing power.

I think GAW promised they would never go negative on operating costs. So lets assume BTC eventually stays at $400 during the productive live of this hashing power. That means the hashing power produces that same 1.9 BTC before flatlining. You will have paid them $290 in operating cost. Today, if you can buy BTC @ $400, you get 2.2 guaranteed and no operating cost payout. Note, if BTC price increases during the productive life, you end up paying more in operating cost.

So lets assume average difficulty increase drops all the way to 8% (unlikely, but possible), then you end up paying $360 in operating costs before GAW zeroes them out but now will produce 2.3 BTC.

So right now $400 BTC price, you have to assume difficulty increases drop below 8% just to get more BTC from the mining than from  just buying BTC.

This is a great deal for GAW.

Fucking hell, why couldn't you post this earlier.  I bought a 50GH/s hashlet just to test out the waters,

[iohutom]

[The $0.08 is for their scrypt miners. For Bitcoin miners its $0.01 per 5 GH SHA-256

So that is $2/day/THS operating expense.
Up front cost looks like $895/THS. This will produce roughly 1.9 BTC by Sept 2016 and then essentially flatlines at 10% difficulty increases. It goes negative on operating expense after producing 1.4 BTC. This assumes BTC makes it back to $500. At $400 it goes negative on operating cost by Feb 2015 after producing 1.3 BTC.

At BTC less than $400 - you should spend the fiat on BTC rather than buying hashlets. In fact, if GAW was confident difficulty increases do not plummet, they can buy the BTC and pay it out over the productive life of the hashing power. They will pay out less BTC than the amount purchased and get $2/day/THS from the credulous customer.

I don't see any scenario in which one of these going into production today is better than just buying the BTC. BTC needs to recover to over $500 before the analysis even becomes plausible. I don't know what they are guaranteeing, but low BTC price today means people should buy BTC rather than buy new hashing power.

I think GAW promised they would never go negative on operating costs. So lets assume BTC eventually stays at $400 during the productive live of this hashing power. That means the hashing power produces that same 1.9 BTC before flatlining. You will have paid them $290 in operating cost. Today, if you can buy BTC @ $400, you get 2.2 guaranteed and no operating cost payout. Note, if BTC price increases during the productive life, you end up paying more in operating cost.

So lets assume average difficulty increase drops all the way to 8% (unlikely, but possible), then you end up paying $360 in operating costs before GAW zeroes them out but now will produce 2.3 BTC.

So right now $400 BTC price, you have to assume difficulty increases drop below 8% just to get more BTC from the mining than from  just buying BTC.

This is a great deal for GAW.

Fucking hell, why couldn't you post this earlier.  I bought a 50GH/s hashlet just to test out the waters,

Why did u buy genesis instead of zen hashlets.... zen hashlets are the most profitable ones.

[SMB-2525]

[The $0.08 is for their scrypt miners. For Bitcoin miners its $0.01 per 5 GH SHA-256

This is a great deal for GAW.

Fucking hell, why couldn't you post this earlier.  I bought a 50GH/s hashlet just to test out the waters,

Sorry. I couldn't because I did not understand the operational cost model before today. 
I think this analysis will be true for all cloud mining operations. Today's mining economy was based on $600 BTC to have the possibility of breaking even. At $400 BTC, all of those schemes fall apart because there is absolutely no ambiguity - buy BTC instead of hashing power.

[vipgelsi]

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

I also have the same problem makes me wonder.

[CrackedLogic]

[The $0.08 is for their scrypt miners. For Bitcoin miners its $0.01 per 5 GH SHA-256

So that is $2/day/THS operating expense.
Up front cost looks like $895/THS. This will produce roughly 1.9 BTC by Sept 2016 and then essentially flatlines at 10% difficulty increases. It goes negative on operating expense after producing 1.4 BTC. This assumes BTC makes it back to $500. At $400 it goes negative on operating cost by Feb 2015 after producing 1.3 BTC.

At BTC less than $400 - you should spend the fiat on BTC rather than buying hashlets. In fact, if GAW was confident difficulty increases do not plummet, they can buy the BTC and pay it out over the productive life of the hashing power. They will pay out less BTC than the amount purchased and get $2/day/THS from the credulous customer.

I don't see any scenario in which one of these going into production today is better than just buying the BTC. BTC needs to recover to over $500 before the analysis even becomes plausible. I don't know what they are guaranteeing, but low BTC price today means people should buy BTC rather than buy new hashing power.

I think GAW promised they would never go negative on operating costs. So lets assume BTC eventually stays at $400 during the productive live of this hashing power. That means the hashing power produces that same 1.9 BTC before flatlining. You will have paid them $290 in operating cost. Today, if you can buy BTC @ $400, you get 2.2 guaranteed and no operating cost payout. Note, if BTC price increases during the productive life, you end up paying more in operating cost.

So lets assume average difficulty increase drops all the way to 8% (unlikely, but possible), then you end up paying $360 in operating costs before GAW zeroes them out but now will produce 2.3 BTC.

So right now $400 BTC price, you have to assume difficulty increases drop below 8% just to get more BTC from the mining than from  just buying BTC.

This is a great deal for GAW.

Fucking hell, why couldn't you post this earlier.  I bought a 50GH/s hashlet just to test out the waters,

Why did u buy genesis instead of zen hashlets.... zen hashlets are the most profitable ones.

Just testing the waters, I will probably sell it on the hash market before I return to make a return or a small profit.

[EvilPanda]

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

I also have the same problem makes me wonder.

Do you still have this problem? I've seen some users say that that withdrawal system has improved.
You get rewarded for keeping the coins with them, so it's not that bad

[iohutom]

[The $0.08 is for their scrypt miners. For Bitcoin miners its $0.01 per 5 GH SHA-256

So that is $2/day/THS operating expense.
Up front cost looks like $895/THS. This will produce roughly 1.9 BTC by Sept 2016 and then essentially flatlines at 10% difficulty increases. It goes negative on operating expense after producing 1.4 BTC. This assumes BTC makes it back to $500. At $400 it goes negative on operating cost by Feb 2015 after producing 1.3 BTC.

At BTC less than $400 - you should spend the fiat on BTC rather than buying hashlets. In fact, if GAW was confident difficulty increases do not plummet, they can buy the BTC and pay it out over the productive life of the hashing power. They will pay out less BTC than the amount purchased and get $2/day/THS from the credulous customer.

I don't see any scenario in which one of these going into production today is better than just buying the BTC. BTC needs to recover to over $500 before the analysis even becomes plausible. I don't know what they are guaranteeing, but low BTC price today means people should buy BTC rather than buy new hashing power.

I think GAW promised they would never go negative on operating costs. So lets assume BTC eventually stays at $400 during the productive live of this hashing power. That means the hashing power produces that same 1.9 BTC before flatlining. You will have paid them $290 in operating cost. Today, if you can buy BTC @ $400, you get 2.2 guaranteed and no operating cost payout. Note, if BTC price increases during the productive life, you end up paying more in operating cost.

So lets assume average difficulty increase drops all the way to 8% (unlikely, but possible), then you end up paying $360 in operating costs before GAW zeroes them out but now will produce 2.3 BTC.

So right now $400 BTC price, you have to assume difficulty increases drop below 8% just to get more BTC from the mining than from  just buying BTC.

This is a great deal for GAW.

Fucking hell, why couldn't you post this earlier.  I bought a 50GH/s hashlet just to test out the waters,

Why did u buy genesis instead of zen hashlets.... zen hashlets are the most profitable ones.

Just testing the waters, I will probably sell it on the hash market before I return to make a return or a small profit.

Well good luck then, AFAIK you cant sell primes on the hash market yet.

[CrackedLogic]

I have Genesis hashlets so it's fine.

[sifter]

I've bought 15 mhs of Zen. Makes a decent return but I got pissed off because every time, without exception, the withdrawal of BTC does not work until multiple attempts are made. I asked for my money back and they told me to fuck off. Well I am still within the window of my credit card purchase and can tell them to fuck off and there is not a damn thing that they can do. It was only $350 CDN so I may just ride it out to get my ROI as I do get my BTC eventually.

I also have the same problem makes me wonder.

Do you still have this problem? I've seen some users say that that withdrawal system has improved.
You get rewarded for keeping the coins with them, so it's not that bad

@EvilPanda

What are hashpoints and how do they work?

[bbxx]

i bought war machine for 2.6 btc in july (54 MH)
got free month of hosting and i have converted it into hashlet prime

it hashes now 58MH/s

it has mined after fees 2.3 btc

so i am at 0.3 btc loss now

but...

i still have 58MH/sec as hashlet prime + bonus 1.3 MH/s prime
so total 60MH/s (valued at 3000$ now ~ 8 BTC)

every day i can boost them into 120MH/s (adding second pool)

i got about 0.04-0.05 btc per day after fees
so i will have roi in 6 days

and will have 120MH/s for free hashing a lot of btc every day
it can feed me till end of cloud.zenminer.com

has anyone better story ?

[EvilPanda]

@EvilPanda

What are hashpoints and how do they work?

Check this out:

https://hashtalk.org/HashPointsFAQ