Topic: GAW ZenCloud ZenPool Hashlet - does it really exist? ALWAYS MAKE MONEY :-) - page 125. (Read 262908 times)

GAW really needs to fix their payout system.

It has been more than a month and it still does not pay out at the time that Josh stated it is supposed to payout.  Payouts are supposed to happen at 8AM ET.  I have seen them as late as 7PM ET this week.


Why does this matter?

Because, as I posted earlier, this creates a situation in which GAW could make a few pennies per MH at their customers' expense as they choose a period of below average BTC price on which to base their payouts. A few pennies per MH being anywhere from 5-10% of their total payout, which massively effects ROI.

With the current system, at best you are being arbitrarily affected by BTC price fluctuations, while at worst your profits are being systematically reduced.

GAW needs to publicly set a time that payouts happen and actually pay out.  If they need to buy a few more Pentium 386's, then so be it. They should also use an index price or a daily average so that no one can influence the price directly before payouts are calculated.

They should not be reliant upon a single point of failure or manipulation (like Coinbase), but use either Winkdex or a transparent method of their own to calculate average BTC price across exchanges.

Still no payout possible. 504 Gateway error. Plus there hasn't been a single payout yet for today. Nor hashpoints nor bitcoin. Usually it should have been finished already

[edit]:
[IMG=http://imagizer.imageshack.us/v2/150x100q90/901/X4WVUo.png][/IMG]

[edit 2]:
Might have to do with this: https://www.reddit.com/r/Bitcoin/comments/2h0nht/seems_like_coinbase_is_broken/

Primes will cost $25 on 9/24 see the post at https://hashtalk.org/topic/7469/hashlet-prime-pricing-change-sha-and-batch-2

i have seen some people post the primes are now $25 abd i also see a post say it wont be till later on this month when new pricing will be in effect. Can someone tell me clear answer as i see still same priceson websites

At least someone with a head on his shoulders. Alas, its impossible to teach lemmings basic math they still wonder what would be better: to loose 50% of their "investment" or 40%.

Oh, an update, payouts are impossible at the moment. #payoutwatch

Just happen to sell a Prime hashlet that I bought for 25 when BTC was (I guess around) 450.

Same with a Genesis Hashlet I bought with points two weeks back. Nice profit there with the dropping BTC price. Though I wouldn't be unhappy if it went back to 500 again

Good thing that the price for the Primes went down again to 25. They should remove all the solo hashlets too since they have no added benefit atm. Back to two options, scrypt and SHA-256.

MOB I just ran some quick numbers for current price of Primes. And we have agreed on something. Calculating current conditions it will 153 days to ROI. This does not include decrease in zenpool. It is taking today's(worst i have seen since i started)

If you are going to calculate ROI IMO you have to look at how many BTC you could buy on DAY 0 with the amount you are buying in hashlets. Because if the price decreases yes the ROI for USD gets much longer but if you would have bought and just held BTC it would be going down also. So you have to calculate how many BTC you can buy so it is apples to apples. Also do not forget the last few days have had the largest drop on zen pool. There have been drops like this followed by spikes. The ROI on these has gotten much tougher with price of BTC dropping so now you need to mine a lot more BTC in order to ROI. (You can buy a lot more with $21 then you could a few days ago)  You have to remember I ran the numbers for my hashlets over a month ago now. I still run numbers but not for ROI if you buy new hashlets. If the zenpool keeps dropping like it has the last 3 days then yes these will not be a good buy. it has gone down more then the avg over time. (these are not my numbers and I have not verified the .07% per day)

I can add that in tomorrow.

If you want to know what it would be at $500, then just multiply the USD earnings by 1.25 from the initial $400 BTC estimates.


I do think it is far more likely that this downward trend will continue.  Take a look at a 1 month, 3 month, or 6 month chart of BTC prices.

Also, remember than Zenpool payouts are decreasing independently of the BTC price decline.  So, if BTC takes 60 days to recover, then it is likely too late for your purchase unless you are holding 100% of your earnings in BTC.

Again, if you think that BTC will go up to $500 in the next month, then you would be better served by buying BTC and holding it.  You would make more money (if it goes to 500) and have less risk.

Mob-  You should also have data sets for 450/500, and your drastic percentage would be wildly different if your numbers where a few days ago before the price crash, so the statistic is a bit misleading, unless your postulating that btc is never going back up from here?

The price better drop a lot.  Hashlet Primes (35 days since their introduction) currently mine about 48% less fiat than they did when introduced on August 16th.

In order to get the same $15.99/MH deal available for early adopters, one would need to be able to purchase a Prime for $8.31.  A Hashlet Prime at $25 will not ROI unless BTC skyrockets.

According to Tom14cat14's statistic that there is a .07% average decline in profitability each day on Zenpool, I offer the following numbers: (watching a poor movie and have a calculator handy ;p)

For these calculations, Day 0 is today.  Assume you bought a $25/MH Prime today and mined the full 24 hours with no fees.  You were paid 100% of your expected income.  The day 0 payout in USD is $.2474/MH.

Each percentage offered after this will be what percentage of Day 0 you are now receiving after fees.

At $25/MH it will take you ~145 to ROI if BTC stays at the current price and if your payouts staying at Day 1 rates (which is not reality). If you factor in the Zenpool rate decreases over time (averaged from last 35 days) then your ROI is closer to ~215+ days.  If you also anticipate a bearish BTC outlook, then you will essentially never ROI at $25/MH.

In either scenario, your best hope will be just breaking even, not actually making money.  If your profitability depends on BTC going up, then you would be better off buying BTC directly.  You would make more money and lose less if BTC crashes.


For the first set, I assuming BTC average price =$400

Day 1: 69.16% ($.17/MH)
Day 10: 64.91% ($.1605/MH)
Day 30: 56.41% ($.1395/MH)
Day 60: 45.69% ($.113/MH)
Day 120: 29.77% ($.07/MH)
Day 240: 12.81% ($.0316/MH)
Day 365: 5.32% ($.013/MH)


If we assume BTC is an average price of $350:

Day 30: 49.36% ($.1221/MH)
Day 60: 39.98%
Day 120: 26.22% ($.0648/MH)
Day 240: 11.21%
Day 365: 4.65%


If we assume BTC is an average price of $300:

Day 30: 42.31% ($.1046/MH)
Day 60: 34.27%
Day 120: 22.33% ($.0552/MH)
Day 240: 9.61%
Day 365: 3.99%


Edit: If we assume BTC is an average price of $500, then see below. 

If it was BTC=$500 right now (and during the whole period), then it would take ~118 days to ROI if we do not factor in BTC price drops nor Zenpool profitability declines.  118 days would be a best possible rate and an extremely unlikely one at that.

Day 30: 70.51% ($.1743/MH)
Day 60: 57.11 ($.1425/MH)
Day 120: 37.21% ($.0875/MH)
Day 240: 16.01% ($.0395/MH)
Day 365: 6.65% ($.01625/MH)

It is great that there are some competition on this field. ZenHash vs GAW Hashlet is great for customers. It means prices will be dropping like crazy and I can buy more Hashlets that way.

The best deal is to wait until 9/24 and buy Primes at $25. This is assuming they keep the price of ZenHashlet at $21. If price of ZenHashlet goes down I would have to do some maths.

The Primes will drop to $25 on 9/24 they have stated anyone that buys at 50 will get 25 back. The difficulty will/should decrease the profits over time. The last week there has been a major drop in price on the Zen pool. But last week we had a few day that it went up so when you avg it out over a longer period someone had a spread sheet showing .07% decrease er day.

Is the Hashlet Prime @ $50 a good deal/the best option? Or is the $9.95 or
$20 Zen Hashlet the better deal? Why is this "boosting" available only twice
a day? Is mining even worth it when your payouts start with three zeroes?
.0007111

Why is ZenCloud payouts higher than 60Mhz at cloudhashing.com??

What do you guys think the future of difficulty will be and its effects? Anyone
got any price predictions/feelings?

With the new Prime pricing of $25 coming on 9/24 bitcoin cloud mining with Primes at 40 GH/s promised by 9/28 costs $0.625/GH/s. If you are still holding $16 Hashlets you will only pay $0.40/GH/s which is one sweet deal. The Spondoolies-Tech SP20 1.7 TH/s miner shipping Oct. 1 costs $0.70/GH/s not including power supply.

Okay I figured that too

But how about people ordering VB's and expected to have them delivered in machines before titan?

Yes true, and his voucher only gives 3% discount, mine MOON Voucher-code 5%!  

I made a lot of money selling my 50 Genesis Hashlets i got for 15,99 a peace. That kind of gain you never gonna get whit Genesis Mining.

That "battle" video is made by a guy who promotes genesis mining on bitcointalk.