Topic: Do you think you were scammed by GAW? Tell Ars Technica - page 7. (Read 14521 times)

This question is posed entirely wrong. How about ( show proof that you were scammed by GAW)

I have seen nothing but people making baseless accusations. I have been a happy customer all the way from gridseeds to hashlets to paycoin. While other companies kept trying to sell unprofitable, obsolete mining equipment to us we had GAW implementing Zencloud which by far was the most profitable cloud mining at the time for me.

I saw other companies trying to compete with their cloud mining platforms , but never had anything in comparison. Only GAW had the foresight to try something new like paycoin to offer to its users when scrypt and sha mining became less and less profitable. Whether paycoin sticks around or not at least they continue to try and adapt which I do not see other companies doing. Their philosophy should be supported by the crypto community whether you agree with everything they do or not.


What did companies like CEX.io offer ?


General Flynt

I pointed hashpower at GAW's official, failed, PayCoin Pool during the PoW phase. I waited for almost a month for payout, but they did come through and paid more than I was owed.

I have been a customer since they purchased Zenminers. Every purchase and investment I made with them has been fair and well supported, and in fact they have held their value or made a return. Besides offering great value for early adopters, there were many opportunities to "take profit" and "upgrade" along the way, ie plenty of exit opportunities, often coming at just the right time before dramatic market turns.

They may have stumbled here and there like any other young, fast growing, innovative company, but they have always come through in the end and made things right. The proof of their legitimacy and good intentions is in their foresight of the decline of home mining and then cloud mining, and so began working on a path to the future, while in the meantime doing their best to provide ROI in the current climate and guide customers through the storms.

XPY may suffer temporarily with the rest of the market, but having stabilized above $3 and vying for 2nd place in marketcap and transaction volume, it has already proven GAW and its customers winners. What the broader market does short term is really out of their control and this seems to have been lost on critics. They can only move forward with their plans and build their next-gen platforms and networks. Rome was not built in a day.

Time to hold to the same burdens of proof - what "community" was shut out and what scams were perpetrated by the aforementioned obstructionists?

Cyrus,
I started ordering from GAW the first week they opened for business on the 18 March 2014. On their new Web site they made a pretty wild claim: they would double your earnings for whatever mining power hardware you bought from them for one week (you get your hardware to mine plus they would pay you what it would earn for a week). Back then it was Gridseed ASICs and I didn't even understand how they could deliver on that wild claim. Well several weeks later, I along with all the other early customers were contacted and asked where we wanted our bitcoins sent. Plus, GAW doubled the already unbelievable offer for those of us who ordered the first week and gave us the equivalent bitcoins for two weeks of mining for the hardware I bought.
From Gridseeds GAW offered a range of scrypt miners up to 54 Meg (an unheard of speed that seemed a wild claim at the time) for a good price. After all of us ordered and paid good prices, GAW notified us that they had negotiated even better prices and would refund us all a pretty significant price difference; which they promptly did.  
Next up was the wild claim that they would deliver a 500 Meg Vault Breaker -- understand this was back when Butterfly labs had been promising new hardware for close to a year and not delivering anything new. GAW even made the wild claim that they were not going to be beaten to market by their competitors and would pay for cloud mining if a competitor shipped before them. And, no sooner did we order vault breakers rated at 500 Meg, than GAW contacted us all and made the wild claim that they would upgrade our vault breakers to 750 Meg script hashing power for the same price; and they did: they added 50% to the power and delivered ahead of competitors (Titan).
Next was the wild claim that hashlets would simplify mining so that anyone could do it. Understand that at the time to mine we were editing conf and bat files with cryptic commands (-I 13 -g 2 -w 256 --thread-concurrency 8192 --lookup-gap 2 --gpu-engine 1080 --gpu-memclock 1500). Yet GAW delivered simple hashlets that anyone with no technical knowledge could use to mine. And mine they did: hashlets earned bitcoins like crazy last Fall. With just the bitcoins the hashlets earned in Sept and October, all the money I had paid to date was more than made up. Another wild claim was that when the Genesis hashlets were not meeting GAW ROI goals they would add 50% to the Genesis, and they did at no additional cost.
The next wild claim was to move from the frustrating chase for faster and faster hashing hardware to a proof-of-stake model.  GAW would change the ROI on mining with a new approach and coin. The goal was for the coin to have a stable price targeted at $20 a coin, and be accepted as widely as credit cards with the ability to pay anyone in the world instantly. GAW is in the process of delivering on that. The coin is there, we are staking rather than hashing, and the infrastructure is being developed.  It is not all there yet and is taking longer than everyone (I assume even GAW) had hoped. But if you want to do an article on software development delays see Microsoft’s repeated delivery delays.
Cyrus, most of what I’m saying are not opinions. They are provable facts still in forums and available from snapshots of the GAWminers site at the WayBackMachine for you to see wild claims that GAW delivered on.
If you want to see a company that disappointed its customers you may want to look at Butterfly Labs where their August 2013 announcement of new hardware stayed as vaporware for a year and the US FTC actually took over receivership of them from September to December of last year.  
GAW grew fast, I think way faster than they expected and they had challenges meeting the high demand of all their new customers. But as you can see by reading the complaints, praises, questions, challenges and support at https://bitcointalksearch.org/topic/gaw-community-is-located-at-communitygawminerscom-529093 and hashtalk forums, when someone had a problem they worked to make it right. I’m not sure if you are just looking for dirt or want to get the facts on GAW, but I think you are missing out on what could be a very important story by focusing on the negative.
If GAW succeeds with the paycoin effort, there is going to be a simple crypto currency that anyone in the world can use to pay anyone anywhere. If you wanted an article translated, you could find someone anywhere in the world and instantly pay them with paycoins for that work. The number of cell phones in the world is rapidly approaching 2 billion. And anyone with a cell phone will be able to pay, receive money, and place orders from anyone else using a paycoin app. Never before in human history has there been a common currency available across borders that worked simply and instantly. Bitcoins can take over an hour to complete a transaction, few people use them, and there is not an organization working to integrate bitcoins into merchant processing systems and make them simple and easy to use. GAW has a vision and they are working on a system that that will reward the mining community for handling the transaction processing, merchants will save the percentage they have to pay to credit card companies, and people will be able to pay right from their paycoin wallet. I can’t believe you only want to look for scams rather that realizing the size of the story in front of you. It will be funny to look back if GAW succeeds and paycoin is adopted and really used throughout the world, to you missing the genesis of paycoins while asking about scams.
At a minimum you should change the title of your post to: What Do you think of GAW? Tell Ars Technica

With all due respect, you're delusional.

Next...

Scott-

So, in other words, you are on the top tier of the Ponzi. I will make a note of that.

Scott-

I believe GAW was scammed by the Reddit and Bitcointalk community on launch. You should do a story on how Reddit and Bitcointalk came together to shut out a community that is constantly being scammed by the aforementioned obstructionists. And how they have profited by GAW's attempts to make the Crypto community become mainstream

GAW Founder here.

I've been with GAW since they sold Gridseeds. I had them hosted, and I bought 2 of the war machines. GAW had alot of bumps along the road with hosting and the ASIC business. My hosted miners were down more than they were up, but GAW made it up to me by refunding any lost mining time in excess.

When given the opportunity to convert my two purchased vaultbreakers, I chose it. I instantly had 1500MH of "Hashlets". I continued to buy them while they were $16 each until I hit over 2GH of hashlets. My hashlets paid me over a 2 BTC a day and I ROI'd within 2 months on my vaultbreaker purchases (even though the vaultbreaker never came to fruition). Enter the double-dip. The double dips put me over 3 BTC a day for a long time until BTC started tanking. Whether these were actually mining, I could care less. They brought me steady stable BTC and my house didnt feel like africa when I was running 75 280xs.

All and all, I ROI'd 2x over on just mined earnings, and earned well over $75,000 in BTC when my hashpoints converted to paycoin and I sold a large portion on the pre paybase run up. I am staking the remaining 5000 XPY I have in stakers.

GAW has nothing but make me money since my initial gridseed orb purchases. I can't thank them enough. And while I am disappointed with the way paycoin is turning out (and upset like make of you that certain promises have not been delivered) I cannot complain about the money I have made and GAW has earned my loyalty. If I didn't stick it out through the bad Gridseed orbs, Hosted War Machines (Crap), and vaultbreaker fiasco I would not be in the financial position I am in now because of them.

This forum is full of butthurt miners who have been scammed by shitty scrypt asic companies that make it damn near impossible to ROI.. If you have been with GAW from the beginning of zeusminers/vaultbreaker/hashlet era it would have been god damn hard for you to not ROI.

You paid 4 paycoins for something that will generate 1.75 paycoins over 6 months. (you were scammed)


Translation: you can invest your money once again for the promise of 500% profit but it might take months/years to payout.*

*Assuming GAW doesn't declare bankruptcy.


The crypto community has absolutely nothing wrong with coins designed for everyday people.

We have a problem with:

- Coins designed to entice people via get-rich-quick schemes
- Repeated false advertising/broken promises
- Featureless shitcoins claiming innovation

OK...where are the FAMOUS "Hashlet(s)" ...that are "most profitable...ALWAYS MAKES MONEY" "innovations of your Homero...

ZiG

There is nothing of that sort. If you were honest about that question you'd find that most criticism around XPY does not involve BTC in any way, shape, or form, except for one glaring fact - GAW itself does not take XPY as payment for any of its products or services, but happily takes BTC and USD. Think about that for a minute.

Let me ask you instead - why does XPY need its supporters to denigrate bitcoin? Shouldn't the currency so advanced and innovative be able to stand on its own merits?

Scammed? 

I have coins in an offline wallet that are steadily paying interest whilst also increasing in value.
I have coins online that, whilst not at the much maligned $20 floor, can be escrowed for a guaranteed $20 on February 1st

If I were to sell all of my coins NOW I would have ROI - even at current prices.

Try measuring BTC to those standards and you will find that currency sadly lacking - I've lost thousands in offline mining & online scams.

What is it about a coin designed to introduce everyday people to cryptocurrency that so incenses the bitcoin community?

My journey with GAW has had some pitfalls, but has been far more profitable than some of the gouging I suffered at the hands of some of the biggest BTC cloudminers ... try looking there for a story! CEX & their ever-increasing fees have destroyed many first-time miners...

I'm disappointed that Paycoin has not been an instant success - but with the vitriol poured upon it by reddit, so-called journalists & the btc-centric community - I'm happy to stick with innovation and gradually reap the rewards.

A satisfied GAW customer since the beginnings.

Ummm.. XPY It's still being built!

I'm sorry, which coin is that?

Yes, I found it, thanks..

I do believe they are legit even though some things don't go as planned.. A large scale POS coin with merchants and a debit card and much faster transaction times sounds more like the future rather than to keep building expensive energy sucking electronics to make a small amount of btc a day..

You better start writing about LTCgear.com. They are almost a confirmed scam and if they are, they are running with millions of dollars as we speak!
Maybe there is still time to save those funds before they are long gone. They are still a very hot subject:

https://bitcointalksearch.org/topic/ltcgearcom-the-best-scryptscrypt-nx11-cloud-mining-service-not-paying-759743
https://litecointalk.org/index.php?topic=6401.0
https://litecointalk.org/index.php?topic=22563.0

GAW is probably one of the few legit cloud mining companies in crypto industry so i would suggest you to leave them alone for now.

All you need is right there including all originals. The rest is hidden in their hidey-hole, username and password required.

Thanks! No, I just wanted to see the facts for myself.. Any chance you have a link to the original announcement??