Topic: Do you think you were scammed by GAW? Tell Ars Technica - page 5. (Read 14521 times)

Has their name on it, they stand behind it. They might as well manufacture it.

-DON'T CARE-

I believe it was proved that when buying XPY on paybase with CC, the paycoins are actually coming from the premine. Of course they try to confuse the believers into thinking this is normal and they will "refill" those back from exchanges.

Also the 3000% interest in the special wallets only GAW has keys to, will of course kill this coin of the month sooner rather than later due to inflation.

Hmm whats with all these sub 10 activity accounts appearing to sing Homeros praises?

Coincidence?  A call to arms for the faithful (and stupid)? Or is someone spamming new accounts to post a story that always seems to be the same with almost no variation?

Why not seek information from the actual customers instead of in this forum?

Hey guys,

Cyrus Farivar here. I'm a reporter with Ars Technica working on a story about GAW and Garza. I spoke with him by phone yesterday and would love to speak with anyone that has had direct dealings with the company and/or has direct knowledge of financials of similar companies. He made some claims that sound wild to me, but I want to check.

My previous work: http://arstechnica.com/tech-policy/2014/04/digging-for-answers-the-strong-smell-of-fraud-from-one-bitcoin-miner-maker/

EMAIL ME:

cyrus.farivar [AT] arstechnica.com

PGP/OTR: http://arstechnica.com/ars-staff-pgp-keys/#cyrus-farivar

https://github.com/cfarivar/crypto-details/blob/master/README.md

Here is my take on GAW. They have done some good things. When they sold hardware they went way above any other company to try and help stack the odds in the customer’s favors. All other mining companies would have said thought luck you preordered this and it is outdated by the time you got it. Not our problem. GAW tried to help people out by giving various upgrades. Hashlets, I bought a lot of them and they were great for a few months. Much like all mining then went down the tubes. GAW came up with a solution allowing us to mine their reward pts redeemable for their new coin. They could have said tough luck and shut it down like every other cloud miner out there. Instead they gave you an option to try and make money. Paycoin well it has had some good things and some bad things. They are new to the development of a coin and it shows. They have not scammed anyone out of money yet so you can’t call them a scam. They are trying different things to try and make paycoin profitable for the holders. Will it work? Only time will tell. They bought a company that would allow you to use the coins to purchase form most stores on the internet. It looks like they underestimated how much work that plug in needed. They made some bold claims that they have not lived up to yet. However if you step back you can see what they are doing and it is not they are trying to scam everyone. They need to be better job on their announcements because the way they have said things made people believe one thing. They said you would be able to use paycoin to buy from Amazon, Best Buy, and Target….. People immediately assumed this meant GAW was saying they have a relationship with all of these companies. When in reality the relationship is they bought a company that made a plug in that would allow you to purchase form these sites. The floor, they messed up on that one. But with the recent announcement they are at least trying to fix it. So many other companies would say tough. We tried it sold to fast so now we will move on. Was this last announcement great? Not really mind blowing in my opinion. They could have and should have done more but that is for them to figure out. We will have to wait and see how it works out.

TL;DR- GAW has done a lot in it’s past to help out its customers when other companies would no do the same. GAW has made some big mistakes and is trying to correct them. So far they have not scammed anyone. Time will tell about this new honors program.

no, I actually did read it. You threw in a ton of circumstances that had nothing to do with your initial investment into his cloud mining operation. The investment you made into his cloud miners returned 80% of your investment, correct?

What you did afterwards mining XPY or anything else has no bearing on that. What if I, or anyone else, invested heavily into the cloud miners and were promised that they were "always profitable" and then did not follow your exact path into XPY? We're stuck at 80% roi? Right. One action has absolutely nothing to do with the other.

You're spinning what you opted to do independently and convincing yourself you turned a profit from the cloud miners. They didn't.

You gave someone a pre-payment of bitcoin and he paid you back 80% of it over the span of weeks? months? That's not profit.

If I give you $80 for your $100 and then you turn that $80 into $105 on your own that doesn't change the fact that I shorted you 20% to begin with.

I'm afraid you didn't finish reading my post:

Even today, if I sold those BTC and Paycoins, I would yield 4x$200 + 500x$4 =

$2800, almost double my original investment. 

probably the same way you just said you did?

if you consider that a profit, well I have $80 that I would like to give you for that $100 bill in your pocket.

which was close to a 80% return on my investment already

how is it even possible that you guys didn't ROI or lost money on this?  I'd like to know.

I bought $80 worth of Hashlet power from GAW in November. It started out fine. I was getting decent payouts that I would expect. I would defend them on this exact forum actually. I couldn't understand why people were upset, everything was great. Then, something very bad happened. All my power was only getting me 1 satoshi a day within two weeks. It sputtered before it went to complete 1 satoshi all day every day. Needless to say, this crashed the Hashlet market and I sold all my Hashlets for $40, half of my initial investment. Sure as hell was a cheap lesson to learn to never buy cloud mining ever again.