Are hashlets worth it?

[SDRebel]

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

well, assuming you ignore everything about GAW and look purely at hashlests, for example
retail of zens  is $14.95,
at $330 that's                       0.04530303 BTC
payout for yesterday was       0.00029683 BTC
fees was $0.08 so at $330     -0.00024242 BTC
                  net                   0.00005441 BTC

without considering difficulty increasing, number of days to break even is 832
you tell me if that is worth it

[Some1else0]

There are more trustworthy companies that offer cheaper hashrates than GAW. It's not worth it in my opinion.

[suchmoon]

When I am in this section of forum all I see is raging and crying people: "cloud mining is a ponzi, they are scammers". And all it comes from people who never invested anything in any cloud mining service at all. Why is that?

I have invested in several cloud mining services, including hashlets. According to your criteria, does that make me qualified to express my opinion about said services?

Just checking because I wouldn't want to offend any sensitivities around here.

BTW good to see the usual GAW faithful crowd ganging up on jimmothy here. I was wondering where you all went, almost started thinking that some of you may have become less enamored with hashpoints and hashcoins and ICO. But it seems you're still sticking with it till the bitter end. Good luck.

[FattyMcButterpants]

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

Well this is an important question to ask. If the company is running as a ponzi then it would obviously be something you would want to avoid.

Once you have established that GAW is not a ponzi (if you can reach that conclusion) it is generally easy to measure when you should expect to break even as well as how much profit you should expect to make by using a mining calculator (and inputting in what difficulty increases you think are realistic)

[Snipe85]

When I am in this section of forum all I see is raging and crying people: "cloud mining is a ponzi, they are scammers". And all it comes from people who never invested anything in any cloud mining service at all. Why is that?

I have invested in several cloud mining services, including hashlets. According to your criteria, does that make me qualified to express my opinion about said services?

Just checking because I wouldn't want to offend any sensitivities around here.

BTW good to see the usual GAW faithful crowd ganging up on jimmothy here. I was wondering where you all went, almost started thinking that some of you may have become less enamored with hashpoints and hashcoins and ICO. But it seems you're still sticking with it till the bitter end. Good luck.

Looks like you are sticking with it as well, you're commenting about hashlets every day. Is this your hobby or something?

[suchmoon]

Looks like you are sticking with it as well, you're commenting about hashlets every day. Is this your hobby or something?

One of the best soap operas in crypto now. How could I not participate.

[Snipe85]

Looks like you are sticking with it as well, you're commenting about hashlets every day. Is this your hobby or something?

One of the best soap operas in crypto now. How could I not participate.

So you're in it for the entertainment. Never thought of that.
To each his own.  

[mm5aes]

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

Seems you lit the blue touch paper...

As far as my experience with Hashlets, got in early and took advantage of all the 'upgrades' and price rises then sold out at the first opportunity. Made some Btc and was happy.

Got banned from their forum along the way for asking why they were banning so many people. Had only gone there to find out what was happening as it seemed at the time the only way the communicated with customers.

Would not now invest as, if nothing else, the figures don't point to profit in the current market. In the interest of fairness, you'd be hard pressed to find any that did.

There is a good calculator for such things on this site in case you haven't found it :-
https://bitcoinwisdom.com

Good luck with any investment you care to make.

[hiddensphinx]

bought 50 primes at $16 and sold them out $35 when the payouts started to drop like a rock from outer space

[jimmothy]

For those who missed it: https://hashcoin.com/

Hashcoin: more ways to give money to GAW's CEO.

Features include:

- Non-technical whitepaper written in 5 minutes

- Centralized transaction verification

- Mining tax(unknown %): 1/3rd will go towards advertising the coin, 1/3rd will go towards expanding GAW datacenters, and 1/3rd will go directly in to the CEO's personal wallet.

- 96 million coins will be distributed during the ICO for the amazing price of only $20/coin. That means for the low price of $1.9 billion USD you can buy all these amazing coins that GAW premined in seconds!

- Buy hashcoins using hashpoints for only $4/coin (market cap $384 million). You will be able to sell them for $20 once it launches, GAW's CEO promises!

[suchmoon]

For those who missed it: https://hashcoin.com/

Hashcoin: more ways to give money to GAW's CEO.

Features include:

- Non-technical whitepaper written in 5 minutes

- Centralized transaction verification

- Mining tax(unknown %): 1/3rd will go towards advertising the coin, 1/3rd will go towards expanding GAW datacenters, and 1/3rd will go directly in to the CEO's personal wallet.

- 96 million coins will be distributed during the ICO for the amazing price of only $20/coin. That means for the low price of $1.9 billion USD you can buy all these amazing coins that GAW premined in seconds!

- Buy hashcoins using hashpoints for only $4/coin (market cap $384 million). You will be able to sell them for $20 once it launches, GAW's CEO promises!

#3 only applies to the ICO coins (I think), unless you meant something else here. However the CEO has said multiple times that PrimeHashlets will have an advantage over other miners and I don't see anything in the white paper that would suggest the existence of such advantage.

#4/5 imply that the FIAT "floor" reserve to keep the price at $20 must be ~$2 billion to avoid the mother of all sell offs, so I'm really puzzled by how that is going to work. I have a strong feeling the 96 million number is incorrect but with the white paper being so light on numbers and facts it's impossible to tell for sure.

Confusing is the mildest adjective I can come up with now.

[jimmothy]

"We shall make the market cap $2 billion dollars" - GAW GEO

Personally, if I was going to make up a market cap I would have went with at least 10 trillion dollars.

[suchmoon]

10 trillion dollars.

That might be a bit too good to be true. $2 billion is apparently fine, Prime hashlets on the Market are still hovering around $44 so the faith is strong.

[jimmothy]

10 trillion dollars.

That might be a bit too good to be true. $2 billion is apparently fine, Prime hashlets on the Market are still hovering around $44 so the faith is strong.

I was wrong. The $20 million market cap was totally not a made up number. Turns out there are "investors" who have valued this new coin at $2 billion.

Answer-1: $20.00 is not guaranteed, it is the minimum price that outside investors have agreed they would be willing to pay to invest in the coin

https://hashtalk.org/topic/15914/hashcoin-ico-customer-round-q-a-transcript-from-yesterday-evening

Answer-2: We are creating a reserve fiat fund, in excess of 30 million dollars, to create immediate liquidity for the coin. This reserve will create a floor for the coin. It will stabilize the price and prevent pump and dumps from occurring. We do not believe many will sell, because our market analyst reported that the coin should break the $75.00 price point within 12 months of the ICO. Since there are many merchants committing to this, the price is expected to continue to climb.

So $75 x 96m = $7.2 billion = 1.5 times the market cap of all cryptocoins combined (including bitcoin)

And to call it a cryptocoin is a stretch. The definition of cryptocurrency is "a medium of exchange using cryptography to secure the transactions and to control the creation of new units".

With hashcoin, the mining/cryptography is completely arbitrary as all transactions are all sent to the bank of GAW who has complete control over the blockchain and can modify it at will.

If you were hit by a bus on your way to work tomorrow, without leaving your crypto keys where your heirs could find them, you are caught in a situation that has no obvious solution. A bank can fix that problem, by overriding the system and moving your money to your heirs.

Everyone knows the example of wealthy benefactors who funnel money to bad people who blow things up. Those cases are a very small percentage of what a bank would deal with. Most of the time a bank is going to be dealing with the small mundane issues, like someone inheriting your assets on your death, or freezing them if there are criminal proceedings.

When there is a central bank, for the crypto currency, in the picture, it can mitigate these issues, and governments will accept it much more readily.

[EvilPanda]

I thought this is a thread about hashlets not hashcoin. There already are general GAW threads, no need to spam here.

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

Well this is an important question to ask. If the company is running as a ponzi then it would obviously be something you would want to avoid.

Once you have established that GAW is not a ponzi (if you can reach that conclusion) it is generally easy to measure when you should expect to break even as well as how much profit you should expect to make by using a mining calculator (and inputting in what difficulty increases you think are realistic)

+1

[jimmothy]

I thought this is a thread about hashlets not hashcoin. There already are general GAW threads, no need to spam here.

That's like saying we shouldn't talk about BTC in a BTC mining thread.

But I get your point, it's much harder to pimp these things when people know the risk of it being a scam.

I'll just leave this here: https://www.reddit.com/r/Bitcoin/comments/2l7myv/can_we_talk_about_gaw/

[moko666]

yes hashlets are a good option if you don't have knowledge or time to manage own hardware
and want to mine without any tension
if you are a tech guy and got some free time then hardware mining is best option

[Snipe85]

I thought this is a thread about hashlets not hashcoin. There already are general GAW threads, no need to spam here.

That's like saying we shouldn't talk about BTC in a BTC mining thread.

People usually don't discuss the risk of buying bitcoin in the mining section. Just sayin'

[jimmothy]

I thought this is a thread about hashlets not hashcoin. There already are general GAW threads, no need to spam here.

That's like saying we shouldn't talk about BTC in a BTC mining thread.

People usually don't discuss the risk of buying bitcoin in the mining section. Just sayin'

That's not true at all. If you have ever visited the mining section you would know that.

Seems you just really don't want people to know about the massive risks/red flags involved with this "investment".

[Snipe85]

I thought this is a thread about hashlets not hashcoin. There already are general GAW threads, no need to spam here.

That's like saying we shouldn't talk about BTC in a BTC mining thread.

People usually don't discuss the risk of buying bitcoin in the mining section. Just sayin'

That's not true at all. If you have ever visited the mining section you would know that.

Seems you just really don't want people to know about the massive risks/red flags involved with this "investment".

All cryptocurrency investments (holding bitcoins included) are cathegorized as "high risk investments".
Massive risk? Obviously you've never traded altcoins.