No, payouts are late again. I could add some sarcastic remark here about rewriting payout systems overnight, but I won't
This gives us a direct pulse on what's going on behind all the smoke and mirrors. They're just a bunch of hacks like everybody else.
Probably hipsters in there (cheap to pay) relearning the same old lessons because they're not following industry standard practices.
If you look at erics linkedin profile he has the chops to handle what they are doing. My bet is they are growing too fast and attempting to do too much at once. It also doesn't help that people are buying tons of hashlets and probably leaving them as singles which adds to the db and increases the time needed to process payouts.
Agreed.. i think a lot of the issues stem from the exponential growth the past few weeks... I'm sure they are staffing up more and creating more SOPs and procedures for things. You can't plan for every contingency with something this "new".
Which is partially another red flag--if you don't have the staff or the infrastructure to handle your product, then how is it that you had enough of your product in the first place? Orders from China take time and capital.
This would particularly support the idea that Hashlet's are not just virtual shares of some physical object, but completely and utterly virtual. They exist with no fixed ratio to any hardware that GAW might own. (apparently not even the database servers)
As to those that think sitting back waiting will somehow automatically answer these questions, you should see how long the longest running Ponzi schemes last. You would be surprised. Even without being a Ponzi, GAW could be taking a large short position on BTC. If BTC continues to decrease in value for about 4-5 months, then GAW would have won the bet. It seems like a fairly safe bet at this point.
You paid them in USD or BTC, LTC, but if they put it all into fiat and just pay you back in BTC as the price drops each day then you could get more BTC back out than you paid in, but still have lost money on this. Many would probably never realize what was truly going on. GAW customers assume the risk, while GAW gets to use the principle for whatever they want.
What I would like to see (wouldn't we all) is for BTC to double in price in the next 2 months. Real mining would have tremendous returns, but I am guessing not GAW miners.
Edit: Oh, and I might be feeling a bit more sanguine about this whole GAW thing as I finally managed to get a sale through escrow. I now own 4 free MH and that is it. Quite relieved to be in and out of GAW within 18 days and a 103% return on my original credit card purchase.