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puwaha
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December 08, 2014, 08:18:08 PM |
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Fools and their money ...
Did you wear a condom? Someone is butthurt after this I would think. Hello "Scarecrow".  |
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flappymike
Newbie
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Activity: 25
Merit: 0
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December 08, 2014, 08:28:12 PM |
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Fools and their money ...
It occurred to me last week that something is not right about the valuation of Primes in the marketplace. When private sales were allowed, the going rate was a discount off the "retail" (about 25-35/mhs). So how is it possible that the market NEVER dips much below $48/mhs and typically stays pegged right around the "retail" $49/mhs price? Sure there are brief times when lower prices are posted, but not often. And, regardless of the hype, the price never blips up too much either.
Moreover, the $49/mhs price is just out of whack with any real mining. Prices per mhs are now $3-10 for real mining hardware (scrypt). The only justification for anything more would be a belief that Paycoin is going to be worth more than $20 - but even then, Zens make more sense than Primes as someone else has shown (can't recall the link, sorry) with a pretty detailed analysis.
Even stranger is the lack of volatility in Prime prices (up and down movement from day to day). Even if there were lots of folks who "believed" in Paycoin, and despite all rational analysis were willing to pay a premium to own the Primes, Paycoin is a pre-release product and you would expect volatility. Lets say that there are sophisticated Wall Street insiders who "know" primes are worth more than $50. When the price runs down they would buy; BUT, being sophisticated investors, they would wait until the prices hit a floor before buying (creating rapid, large, up and down swings). There is almost none of that.
So how is it that the Prime prices remains so darn stable and high, with almost none of the volatility you would expect to see from a pre-release product?
My hypothesis that there are buyers (GAW or resellers most likely) who are propping up the Prime market, buying up quickly any hashlets posted for less than $49/mhs. Much like GAW plans for Paycoin, where a floor will be established through buybacks. Seems to me that could already be being done with Primes.
Buoyed by my new hypothesis, I decided to put my feet back in the water last week right before the Big Announcement about Primes. I deposited 22 BTC back into GAW, and hit the "reverse sale and prepare for market button" which gave me back the approximately 350+ mhs in Primes that I had sold back to GAW early on. Between Thursday night and Saturday morning, I was able to sell the Primes on the market for a total of about 40 BTC. It took several withdrawals and 3 withdrawal holds over 3 days before I got all my BTC back out with profit.
Maybe my hypothesis is just a salve for my conscience. I am sincerely hoping that I am right about my hypothesis (in which case I just took money from the folks trying to prop up prices); or that I am wrong about GAW (in which case I feel great having made 18 BTC in one day, and I will be thrilled to see buyers of my Primes make even more money). Otherwise, there will be some sad folks holding my former Primes when the house falls down.
YMMV but if you have a revert button on your account, something to consider.
REVERSE BUTTON what the hell is this? So users(INVESTORS) are not treat equally. UNFAIR UNFAIR! When i buy shares , i have a vote for each of my shares same for the big investors. And i do not have a reverse button in case i made a mistake . This is outrageous! |
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knowhow
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December 08, 2014, 08:35:16 PM |
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soo when will we be able to convert primes into hastakers? for me if i can ROI in 6 months and get out well i will jump out this is too crazy to stand.....
about hashpoints will then be able to convert 1:400 ratio or there are any new improvements about them?
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eightcylinders
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December 08, 2014, 08:39:30 PM |
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REVERSE BUTTON what the hell is this? So users(INVESTORS) are not treat equally. UNFAIR UNFAIR! When i buy shares , i have a vote for each of my shares same for the big investors. And i do not have
a reverse button in case i made a mistake . This is outrageous!
GAW offered to "Founders" and very early purchasers the opportunity to sell back their hashlet prime investment to GAW. Originally, GAW promised to buy back at the "full" $49/mhs (most of our early purchases/conversions were at $16/mhs) so this was a great profit opportunity to get out with great ROI. This offer was primarily due to the fact that GAW took so long in rolling out the market for Primes (the market was promised to be available "soon" but did not materialize for over a month), and also that GAW banned private sales leaving us with no way to get out (and, the definition of a Prime hashlet was changing so that we did not even get what we thought we were getting on day 1). However, GAW then changed the terms of the buyback so that you something like $45 minus payouts made over lifetime. I cannot recall the exact formula, but it resulted (for me) in a much smaller payout when I decided to get out (total of 22 BTC for about 350 mhs, which is about breakeven versus the $16/mhs that I paid). Of course, I got payouts so I did ROI after exiting of course. When GAW finally opened the Prime marketplace, there were lots of complaints from the Founders and GAW customers who have been around a while. So GAW put a little button up that allowed you to "reverse" the buyback sale (not any market sale, only the special buyback sale). In order to make that button work, you needed to re-deposit the sale proceeds in the entirety (no partial reversal) so for me that was 22 BTC. I could be wrong, but I though everyone who bought early Primes had the buyback option, and everyone who exercised the buyback option also had the "reverse" sale button. |
My BTC Addres: 1PMEJCY6ofqmnAdYbdQqToZ7MNSAz35w7v =>Buy the world's first hardware wallet. Safer than paper and easier to use than smartphones. If you use Bitcoin you need this: Buy Trezor!! |
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suchmoon (OP)
Legendary
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Activity: 3892
Merit: 9108
https://bpip.org
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December 08, 2014, 08:40:42 PM |
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Yes, it has been extended now through the end of formerly-known-as-round-3-which-has-been-cancelled. soo when will we be able to convert primes into hastakers? for me if i can ROI in 6 months and get out well i will jump out this is too crazy to stand.....
about hashpoints will then be able to convert 1:400 ratio or there are any new improvements about them?
Prime conversion is supposed to start today, not sure what time. Weigh carefully if you want to commit for 6 months. Think how "ROI" changed just in ~4 months since August. The ratio is promised to be 1:400 or less. |
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keshuker
Sr. Member
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Activity: 395
Merit: 250
aka. dibdab
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December 08, 2014, 08:41:52 PM |
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soo when will we be able to convert primes into hastakers? for me if i can ROI in 6 months and get out well i will jump out this is too crazy to stand.....
about hashpoints will then be able to convert 1:400 ratio or there are any new improvements about them?
If there ever will be a coin, the cashtaker will only create more number of paycoins, it won't bring any money in so how do you calculate the ROI? Do you care about $ or btc? Then PC won't help you but if you want to see a bigger number of worthless PC in your account, then I'd say go for the cashtaker. Nobody knows anything about ratio or launch date or amount of coins or PoW vs PoS dates or really anything. There has probably been no other coin in history that is being launched this bad but then again they cover up for it with the huge amount of hype. Luckily there are some starting to see through the smoke even on hashtalk and are questioning all the BS spread. They will of course be shadowbanned from there. |
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suchmoon (OP)
Legendary
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Activity: 3892
Merit: 9108
https://bpip.org
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December 08, 2014, 08:45:31 PM |
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I could be wrong, but I though everyone who bought early Primes had the buyback option, and everyone who exercised the buyback option also had the "reverse" sale button.
I spent enormous amounts of time clicking through ZenCloud at the time when all this was going on and I could never get the buyback to work for me. I think it only worked if there was someone willing to buy your primes at full retail? I don't remember now, it was so convoluted. |
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deeneendo
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December 08, 2014, 08:54:07 PM |
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my first ban actually was caused by me repeatedly reminding customers and GAW of their broken "buyback" promise. I got warned by Josh and then banned after I told him I wouldn't be shut up, but still try to behave. That wasn't good enough for him.
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eightcylinders
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December 08, 2014, 08:55:51 PM |
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I could be wrong, but I though everyone who bought early Primes had the buyback option, and everyone who exercised the buyback option also had the "reverse" sale button.
I spent enormous amounts of time clicking through ZenCloud at the time when all this was going on and I could never get the buyback to work for me. I think it only worked if there was someone willing to buy your primes at full retail? I don't remember now, it was so convoluted. That was the original plan, but for 2-3 weeks that did not work or only worked for a few lucky folks. One of the resellers (Volker I think) made a public offer to buy back any Prime at cost - payours, then shortly thereafter GAW ended up offering the $45 - payouts option which is what I took up. I can't find the link to the HT post, but it was in the Announcements when GAW made this decision. The formula was very strange. On several of my primes the buyback resulted in very small or no payment, and in others I seemed to get the full value. I never figured out how they calculated the $45 - payouts but I took what I could get. |
My BTC Addres: 1PMEJCY6ofqmnAdYbdQqToZ7MNSAz35w7v =>Buy the world's first hardware wallet. Safer than paper and easier to use than smartphones. If you use Bitcoin you need this: Buy Trezor!! |
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flappymike
Newbie
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Activity: 25
Merit: 0
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December 08, 2014, 08:58:14 PM |
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I could be wrong, but I though everyone who bought early Primes had the buyback option, and everyone who exercised the buyback option also had the "reverse" sale button.
[/quote]
I had hardware miners that i converted to primes , never had that button
bought primes as well never had that and i have been there for a long time
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corygto
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December 08, 2014, 09:05:21 PM |
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eightcylinders
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December 08, 2014, 09:06:48 PM |
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I had hardware miners that i converted to primes , never had that button
bought primes as well never had that and i have been there for a long time
As I recall, you had to click on the little settings button for each miner (the thingy that allows you to rename, merge, split, etc.) and the option to have GAW buy back your miners was there. It was only active for a limited period of time. The option to reverse the buyback was supposed to be active for a few days only, but GAW kept it open. If you did not take advantage of the buyback there would be nothing to reverse! |
My BTC Addres: 1PMEJCY6ofqmnAdYbdQqToZ7MNSAz35w7v =>Buy the world's first hardware wallet. Safer than paper and easier to use than smartphones. If you use Bitcoin you need this: Buy Trezor!! |
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suchmoon (OP)
Legendary
Offline
Activity: 3892
Merit: 9108
https://bpip.org
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December 08, 2014, 09:24:19 PM |
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Just admit it... it's you, right? TBH watching that feels almost like watching someone kicking a puppy, everyone's so fragile and so emotionally attached to their master. That's horrific, someone is making fun of... what exactly? A business you're a customer of? Unthinkable. |
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PolyCoin-Team
Member
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Activity: 79
Merit: 10
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December 08, 2014, 09:33:29 PM |
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Ok so now we know for sure that Paycoin on Cryptsy belongs to GAW. Sadly we have to waoit another 12 days before paycoin goes to the moon om cryptsy. I always knew PYC on Cryptsy belongs to GAW. All the butthurt fags thst said otherwise seem to be very quite now.
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suchmoon (OP)
Legendary
Offline
Activity: 3892
Merit: 9108
https://bpip.org
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December 08, 2014, 09:37:06 PM |
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Ok so now we know for sure that Paycoin on Cryptsy belongs to GAW. Sadly we have to waoit another 12 days before paycoin goes to the moon om cryptsy. I always knew PYC on Cryptsy belongs to GAW. All the butthurt fags thst said otherwise seem to be very quite now.
And how do you know that? |
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corygto
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December 08, 2014, 09:43:29 PM |
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Just admit it... it's you, right? TBH watching that feels almost like watching someone kicking a puppy, everyone's so fragile and so emotionally attached to their master. That's horrific, someone is making fun of... what exactly? A business you're a customer of? Unthinkable. Hahaha yeah apparently you aren't allowed to criticize a multimillion dollar launch that repeatedly fails or cannot deliver on time. |
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I_IZ_CEO
Sr. Member
Offline
Activity: 308
Merit: 250
CEO FlawMiners TM®
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December 08, 2014, 09:59:08 PM |
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LOL That was hysterical. They are begging for the  |
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I_IZ_CEO
Sr. Member
Offline
Activity: 308
Merit: 250
CEO FlawMiners TM®
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December 08, 2014, 10:23:40 PM |
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OHH NOEZ The Gestapo did him in  GawTeamFanClub This user didn't post anything yet. https://hashtalk.org/user/gawteamfanclubIt was fun while it lasted!!  He deserves troll of the year award. The shills will remember him for a long time. |
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bitcoinnoisseur
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December 08, 2014, 10:36:09 PM |
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OHH NOEZ The Gestapo did him in GawTeamFanClub This user didn't post anything yet. https://hashtalk.org/user/gawteamfanclubIt was fun while it lasted!! He deserves troll of the year award. The shills will remember him for a long time. The thread is still there but his OP is gone. It doesn't say he was banned either. 131 Reputation 114 Posts 127 Profile views |
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