Are hashlets worth it?

[jimmothy]

They are really trying to make mining fun for you, so there are many different features to choose from. You get points for keeping your money there as a BONUS. You don't have to do it, but if you choose to, or simply forget to withdraw, you'll get points, that you can use as a store discount. IMO it's a great feature that makes them unique.

To be honest, I can't take you seriously when you say "they are trying to make mining fun". Adding an absurd amount of gimmicks/arbitrary games is not fun, it's a massive waste of time.

GAW knows it's a massive waste of time which is why they implemented the games knowing that only a select few will actually waste their time day after day.

I'll say this again.

You don't have to register on hashtalk - it's optional.
You don't have to collect and use hashpoints.
You don't have to keep your money in the cloud, a lot of their clients withdraw daily.

Most cults are in fact "optional".

And many people cannot withdraw their BTC but that's another issue.

All those features are available for those who want to do something more than simply take their daily payout and forget about it.

That's BS. Everything GAW does is a calculated effort to extract money from gullible idiots using every scheme known to man.

You'd have to be outright delusional to think that it's a "great feature" that they pay you to store your BTC on their service. There's absolutely no reason they would want you to store BTC with them unless they plan to steal it once they've accumulated enough.

Any day now GAW will get "hacked" or "lose all their coins due to a technical glitch" and many of you will still try to fork over more money.

sidenote: I'm honestly surprised you're a hero member and at the same time so ignorant about bitcoin. Did you buy that account recently or what?

Side note: You might want to check out GAW's latest purchase - 5 PH/s from Bitmain Wink

https://bitcointalk.org/index.php?topic=827552
https://hashtalk.org/topic/12390/bitmain-confirmation/197

Interesting that GAW has a few million dollars lying around. It's also a bit strange that they are willing to prove they own the sha-256 hardware but we are just supposed to just believe they actually have the scrypt hardware.

But good on them for being relatively honest for once.

[Snipe85]

They are really trying to make mining fun for you, so there are many different features to choose from. You get points for keeping your money there as a BONUS. You don't have to do it, but if you choose to, or simply forget to withdraw, you'll get points, that you can use as a store discount. IMO it's a great feature that makes them unique.

To be honest, I can't take you seriously when you say "they are trying to make mining fun". Adding an absurd amount of gimmicks/arbitrary games is not fun, it's a massive waste of time.

GAW knows it's a massive waste of time which is why they implemented the games knowing that only a select few will actually waste their time day after day.

If it's such a waste of time, there are other mining offers to choose from. You are free to use any of them. It appears people like to play, because they have a lot of clients.
I'd say you're wasting more time arguing in this thread than you would boosting your hashlets.

[WaffleMaster]

I can't understand why, even though there's confirmed proof FROM THE SUPPLIER, this guy still goes on about how there is no hashing power and it's a big ponzi. Oh, because they're innovating and creating a market for hashlet skin collectors to get rare hashlet skins? Oh, because they're putting a ton of fun and never before seen cool features into their cloud mining service? Oh, because they let you buy different hash power for different pools? Oh, because they have a forums where people get rewarded for meaningful posts (heaven forbid!)? Is it because they're creating a healthy coin? God forbid there be an actual company launching a coin with financial prowess and innovation behind it. By the way, a company could buy only BTC mining hardware, mine bitcoins, and sell Scrypt mh/s contracts based on what their SHA-256 mining power is. For example, the pool that someone buys a 1mh/s  hashlet on, lets say multipool, posts earnings per mh/s on average. If you have an SHA-256 miner getting .1 btc a day, and sold contract for 1mh/s scrypt that generates average .001 a day, you can sell 100 1mh/s Scrypt contracts and that's all just theory. So regardless what kind of power they bought from Bitmain, they have it (which they would never specify exact details for competition reasons), and everything can always be intertwined mathematically. Another ex: 1gh/s of SHA-256 may equal .1 mh/s of Scrypt. I know it might be hard for you to think such a thing, but trust me it can be done pretty easily and made into a complex mathematical equation to be a dynamic changing figure. I believe everything you've ever flamed about in this topic was covered, but forgive me if I missed a few non essential points. Good day  

[jimmothy]

I can't understand why, even though there's confirmed proof FROM THE SUPPLIER, this guy still goes on about how there is no hashing power and it's a big ponzi.

I think you perfectly understand why a new purchase of 5 PH/s doesn't prove they have been mining up to this point.

Seems like quite a waste of time/effort to have Bitmain confirm when all they need to do is post their mining address.

Oh, because they're innovating and creating a market for hashlet skin collectors to get rare hashlet skins?

Yes they have created value by painting a rock different colors. Good on them, but I wouldn't call it "innovation" as much a gimmick.

Oh, because they're putting a ton of fun and never before seen cool features into their cloud mining service?

Clicking buttons to boost your hashrate every day is fun? If I made a cloudmining company where you could boost your hashrate 10 times a day would it be 10 times as fun?

It's only "fun" because you have the illusion that you are making extra money but really after all that clicking/arbitrary games you are only making as much as you would have earned if the games never existed.

Oh, because they let you buy different hash power for different pools?

Do you not find it suspicious that they don't actually mine on those pools and instead calculate the earnings?

Oh, because they have a forums where people get rewarded for meaningful posts (heaven forbid!)?

You mean rewarded for circlejerking/and banned for any form of criticism? Sounds like a great place to have a non-biased discussion!

This is the one time a company has created their own forum for censorship purposes and turned out to be entirely trustworthy right?

Is it because they're creating a healthy coin? God forbid there be an actual company launching a coin with financial prowess and innovation behind it.

Innovation? You're joking right?

Here's the puppet-masters take on Hashcoin:

HashCoin is what we've been working on for months, under Project Prime. It is, I'm confident to say, the single biggest advancement for cryptocurrency since the original Bitcoin white paper.

Our initial ICO round will happen in the next 2-3 weeks. Our minimum investment floor is 1 million USD, and the line of investors and banks is forming :grinning:.

Its VERY clear why most coins have not done well. Technical innovation does not make a coin popular. Marketing, business strategy, adoption, and scale do.

Only the GAW CEO could announce to his cultists that he is inventing a coin, premining it, selling million dollar batches, and not get laughed at.

He might even be right though, all it takes is a massive marketing campaign towards ignorant noobs to make money.

By the way, a company could buy only BTC mining hardware, mine bitcoins, and sell Scrypt mh/s contracts based on what their SHA-256 mining power is. For example, the pool that someone buys a 1mh/s  hashlet on, lets say multipool, posts earnings per mh/s on average. If you have an SHA-256 miner getting .1 btc a day, and sold contract for 1mh/s scrypt that generates average .001 a day, you can sell 100 1mh/s Scrypt contracts and that's all just theory.

Occams razor: "among competing hypotheses, the one with the fewest assumptions should be selected".

You can make up many complicated scenarios where they might be able to payout, but a ponzi is the simplest explanation.

So regardless what kind of power they bought from Bitmain, they have it, and everything can always be intertwined mathematically. I believe everything you've ever flamed about in this topic was covered, but forgive me if I missed a few non essential points. Good day 

Yes I agree, the 5PH/s from Bitmain is most likely legit. I'm willing to bet that as soon as they bring it online, they will provide the public with their mining address as every legit company would.

The question is why they have refused to prove they are mining up to this point.

Clearly I'm not the only one who thinks it's a ponzi/sketchy/untrustworthy, so why sacrifice potential customers when all it takes is a few seconds to prove without a doubt that they are not a ponzi?

[Morguk]

All I will say is myself and many have got back our ROI already. I've been happy for once after losing money in home mining, PETA mine and Scrypt-x!

[WaffleMaster]

I believe they mine on the pools they sell contracts for, not just calculate the avg earnings and payout that amount haha. Releasing a bitcoin mining address would allow competitors to calculate their average hashrate to be able to know exactly how much to buy or invest to make them on top again. I believe $6.95 for 1mh/s of scrypt is currently the best price, without getting into weird fire sales by other companies who have backlogged themselves -854 160mh/s contracts (*cough* ltcgear *cough*) for $9,000 - nowait -$1,800 - no wait $900 with this special bonus code that would leave them holding $800,000 of customer's money and no service to show for it. Can I get a "Butterfly Labs" shout from the crowd please?

[jimmothy]

I believe they mine on the pools they sell contracts for, not just calculate the avg earnings and payout that amount haha.

If you could provide proof that would be hugely beneficial towards shutting me up. (along with the other skeptics)

Their TOS says it's all virtual:

Hashlets earnings depend on the pool chosen and Payouts reflect respective Pool Payouts. Selecting a Pool does not imply physically or electronically mining at the selected Pool. Rather, selecting a Pool determines a Payout corresponding to a calculation based on the selected Pool’s payout (based on, for example, real-time Megahash/second/day calculations). A Hashlet is virtual software. You will receive Payouts according to the Pool with with the Hashlet is associated

https://zenminer.com/cloud/terms.html

Releasing a bitcoin mining address would allow competitors to calculate their average hashrate to be able to know exactly how much to buy or invest to make them on top again.

I'm sorry but that makes no sense. Competitors don't care how much hashrate GAW has, they only care about the total network hashrate.



Almost all manufacturers/cloudmining companies have gone public with their hashrate.

[bitgeek]

Don't even start with this guy, he's very selective with his responses and ignores most things people are telling him in his thread,
I checked his trust coments and it looks like he tried that before.

"retarded in the head
Claims the Havelock IPO is not a scam "because he said so".
Don't trust what he says, since he either is trolling, or intentionally misleading or he is a complete fool."

So, GAW is using their miners as very expensive heaters, and they even bought more recently because the winter is coming
You solved the great mystery, good job!

This whole discussion has gone off topic, the question was if hashlets are worth it. If you want to make GAW submit proof of mining, you have to contact them.

[Klubknuckle]

hashlets are good, buy it when there is promotion to have the best chance to ROI and profit.

[maku]

hashlets are good, buy it when there is promotion to have the best chance to ROI and profit.

I agree hashelts are not half bad. I wish I bought more of them when I have a chance.

[jimmothy]

Don't even start with this guy, he's very selective with his responses and ignores most things people are telling him in his thread,

What exactly am I ignoring?

Here are some things you GAW fanatics are constantly ignoring: Why is GAW refusing to publish a mining address? Why did they create their own forum? Why does their TOS say they are not actually mining on the selected pools?

I checked his trust coments and it looks like he tried that before.

"retarded in the head
Claims the Havelock IPO is not a scam "because he said so".
Don't trust what he says, since he either is trolling, or intentionally misleading or he is a complete fool."

Nice attempt at ad hominem.

I've never done business with either people who left negative feedback and one of them is a known scammer and the other thinks havelock is a scam (even though 1 year later havelock still hasn't scammed anyone).

Looking at your own post history it's clear that championing GAW is pretty much all you do.

Why don't you just ask them to publish a mining address so all you beliebers don't have to waste hours defending them with nothing but flimsy evidence?

[Stedsm]

Hi everyone, I'm looking to start mining, and the cloud miners, by GAW miners (the hashlet) look like a good deal. How long do you have these miners? 5 years? Also, are there any hidden fees I should be aware about? Thanks!

Similar to cex.io, you mine with them until you choose to sell them at a loss/profit. Good luck

[Undefeatable]

Buy from hashnest instead. its currently 0.115 per GHs

[ranochigo]

No, cloud mining are significantly more expensive than home mining. They wouldn't be renting their hardware to users if they are actually profitable. Unlike Cex.io, cloudhashing and various other cloudmining companies, they do not have proof that their hardware are actually running. Even if they have proof that their hardware are mining, you won't be making any ROI.

[EvilPanda]

@jimmothy
He was right in this part: he's very selective with his responses and ignores most things people are telling him in his thread
You acted like nothing is ignored, yet in the same post you ignored the most important part:

So, GAW is using their miners as very expensive heaters, and they even bought more recently because the winter is coming Wink
You solved the great mystery, good job!

This whole discussion has gone off topic, the question was if hashlets are worth it. If you want to make GAW submit proof of mining, you have to contact them.

This is what you can't answer, right? Just like you can't prove they are a scam, but continue to attack them, although you aren't their client, and I know that, because you said that people can't withdraw their money from the cloud, which is a lie. And if you were a client you would have known that despite the delays, withdrawals are working. We aren't talking about a small cloud mining site with a 100 clients, GAW has a couple thousand, so if all of them start clicking f5 this is what you get.

And some of your questions are ridiculous like "why did they create their own forum?" And why did KNC start their own forum? You're really grasping straws here.

No, cloud mining are significantly more expensive than home mining. They wouldn't be renting their hardware to users if they are actually profitable. Unlike Cex.io, cloudhashing and various other cloudmining companies, they do not have proof that their hardware are actually running. Even if they have proof that their hardware are mining, you won't be making any ROI.

You are right in the bold part, cloud mining is aimed at people who can't mine at home. The market is fairly large, because not everyone these days has a stable connection, me included. My internet tends to disconnect once or twice a week, and requires a router reset, which makes mining a bit difficult. If it happened at night I'd be losing at least 10 hours of mining every week. You also need a dedicated room to fit the miners and not everyone has it. Finally, don't forget to add the cost of shipping and taxes, not to mention that you can get the miner much later than expected.
In the perfect cloud mining scenario you start mining just a few minutes after buying a contract and experience no downtime, don't have to worry that the miner or PSU will fail, your kid pulls the wires, or you lose mining time because someone blew the fuses while you were at work.

As for the second part, they have a proof of having the miners, and a lot of them. So what do you think they are doing with all this hardware if not mining? IMO they simply don't want to reveal what is being mined and where, and it's their choice, just as your choice is to calculate the risk and decide if the whole thing is worth investing.

I always say that the only way a buyer can put pressure on the seller is by not investing. No amount of complaining and repeating the same bullshit on the forum will help in this case.

[jimmothy]

@jimmothy
He was right in this part: he's very selective with his responses and ignores most things people are telling him in his thread
You acted like nothing is ignored, yet in the same post you ignored the most important part:

So, GAW is using their miners as very expensive heaters, and they even bought more recently because the winter is coming Wink
You solved the great mystery, good job!

I only ignored that one comment because I really don't understand the point.

I think you are trying to imply that because they have pics of some miners, they must not be a ponzi which is an incredibly flawed argument. It's clear that they do have SOME hardware, just how much is completely unknown.

Again, if they actually have 100% of the hashrate they've sold, there is no reason to not prove it with a mining address.

This whole discussion has gone off topic, the question was if hashlets are worth it. If you want to make GAW submit proof of mining, you have to contact them.[/i]

I would say a companies trustworthiness and likelihood of being a ponzi is an important factor when deciding if the "investment" is worth it.

Here's the SEC's advice of how to spot a ponzi scheme:

What are some Ponzi scheme "red flags"?

Many Ponzi schemes share common characteristics. Look for these warning signs:

    High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity.

    Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.

    Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances.

    Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.

    Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.

    Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.

    Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over.

http://www.sec.gov/answers/ponzi.htm

Impressive that this totally legit company manages to trigger 6/7 of the SEC's warning signs of a ponzi.

And some of your questions are ridiculous like "why did they create their own forum?" And why did KNC start their own forum? You're really grasping straws here.

It's not ridiculous at all. KNC/BFL/GAW created their forum for the same reason any other company with something to hide did.

This discussion should have made you realize exactly why GAW created their own forum, because if this was taking place on hashtalk I would have been banned after the first post.

Just look at how well censorship/astroturfing is working for GAW. Hundreds of complaints/criticisms/ponzi accusations on this forum, yet you cannot find a single negative comment on their own forum.

As for the second part, they have a proof of having the miners, and a lot of them. So what do you think they are doing with all this hardware if not mining? IMO they simply don't want to reveal what is being mined and where, and it's their choice, just as your choice is to calculate the risk and decide if the whole thing is worth investing.

They have pics of miners and obviously there is nothing else a miner can do but mine.

What you are missing or intentionally ignoring is the fact that anyone can buy/host a few dozen miners and claim they have a multi-MW mining operation. Even if they have hundreds of miners, that may only be enough to cover 1/4th of the hashrate they are selling. (like a fractional reserve)

No amount of complaining and repeating the same bullshit on the forum will help in this case.

Not true at all. If you GAW fanatics would quit being such gullible pushovers, GAW would have proven they were mining within days of launch. (assuming it's not a ponzi)

It's clear that you (just like bitgeek) spend 100% of your free time championing GAW.

So instead of wasting constant hours of your life defending GAW, why don't you just ask GAW to prove they are not a ponzi with a simple copy/paste of a mining address?

Think about all the button clicking and arbitrary games you will be able to play with the hours you will be saving.

[FattyMcButterpants]

No, cloud mining are significantly more expensive than home mining. They wouldn't be renting their hardware to users if they are actually profitable. Unlike Cex.io, cloudhashing and various other cloudmining companies, they do not have proof that their hardware are actually running. Even if they have proof that their hardware are mining, you won't be making any ROI.

All that you would need to do to verify proof that any cloud mining company actually is mining (GAW hashlets included) is to buy a small amount of mining capacity, then wait until you have enough to earn a payout, request/receive a payout, then trace the source of the payout via the blockchain. There should be somewhat of a short path to a coinbase transaction from a found block (that is somewhat new). There is your proof that they are actually mining

[Konstigt]

I came here looking to see if Hashlets were worth it and I came out with conspiracies of GAW being a ponzi. Great.

[I_IZ_CEO]

@jimmothy
He was right in this part: he's very selective with his responses and ignores most things people are telling him in his thread
You acted like nothing is ignored, yet in the same post you ignored the most important part:

So, GAW is using their miners as very expensive heaters, and they even bought more recently because the winter is coming Wink
You solved the great mystery, good job!

I only ignored that one comment because I really don't understand the point.

I think you are trying to imply that because they have pics of some miners, they must not be a ponzi which is an incredibly flawed argument. It's clear that they do have SOME hardware, just how much is completely unknown.

Again, if they actually have 100% of the hashrate they've sold, there is no reason to not prove it with a mining address.

This whole discussion has gone off topic, the question was if hashlets are worth it. If you want to make GAW submit proof of mining, you have to contact them.[/i]

I would say a companies trustworthiness and likelihood of being a ponzi is an important factor when deciding if the "investment" is worth it.

Here's the SEC's advice of how to spot a ponzi scheme:

What are some Ponzi scheme "red flags"?

Many Ponzi schemes share common characteristics. Look for these warning signs:

    High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity.

    Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.

    Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances.

    Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.

    Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.

    Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.

    Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over.

http://www.sec.gov/answers/ponzi.htm

Impressive that this totally legit company manages to trigger 6/7 of the SEC's warning signs of a ponzi.

And some of your questions are ridiculous like "why did they create their own forum?" And why did KNC start their own forum? You're really grasping straws here.

It's not ridiculous at all. KNC/BFL/GAW created their forum for the same reason any other company with something to hide did.

This discussion should have made you realize exactly why GAW created their own forum, because if this was taking place on hashtalk I would have been banned after the first post.

Just look at how well censorship/astroturfing is working for GAW. Hundreds of complaints/criticisms/ponzi accusations on this forum, yet you cannot find a single negative comment on their own forum.

As for the second part, they have a proof of having the miners, and a lot of them. So what do you think they are doing with all this hardware if not mining? IMO they simply don't want to reveal what is being mined and where, and it's their choice, just as your choice is to calculate the risk and decide if the whole thing is worth investing.

They have pics of miners and obviously there is nothing else a miner can do but mine.

What you are missing or intentionally ignoring is the fact that anyone can buy/host a few dozen miners and claim they have a multi-MW mining operation. Even if they have hundreds of miners, that may only be enough to cover 1/4th of the hashrate they are selling. (like a fractional reserve)

No amount of complaining and repeating the same bullshit on the forum will help in this case.

Not true at all. If you GAW fanatics would quit being such gullible pushovers, GAW would have proven they were mining within days of launch. (assuming it's not a ponzi)

It's clear that you (just like bitgeek) spend 100% of your free time championing GAW.

So instead of wasting constant hours of your life defending GAW, why don't you just ask GAW to prove they are not a ponzi with a simple copy/paste of a mining address?

Think about all the button clicking and arbitrary games you will be able to play with the hours you will be saving.

Great job!
You have owned every sheeple that has attacked you here!

[SDRebel]

Hi everyone, I'm looking to start mining, and the cloud miners, by GAW miners (the hashlet) look like a good deal. How long do you have these miners? 5 years? Also, are there any hidden fees I should be aware about? Thanks!

as someone who invested lots in GAW a few months ago (almost from the beginning) and now i'm free of it, I honestly cannot recommend doing any business with them. The GAW_CEO is not trustworthy. He will promie 100 features and deliver 5 and with 50 bugs. There's way to many red flags on what he does.
Hashtalk was opened so he could keep his little bubble where we can censor anything that does not say good things about them.

The only one I can recommend ( though I cannot guarantee  100% that they are honest, because there's naturally secrecy)is ltcgear.