Topic: GAW ZenCloud ZenPool Hashlet - does it really exist? ALWAYS MAKE MONEY :-) - page 199. (Read 262935 times)

Well you did push the limits, I saw you there

Edit: surprisingly the thread is still there so I'll just post a link - https://hashtalk.org/t/just-goes-to-show-ya/9977

for those interested, here's a quick writeup on what I think the hashlets are. I do not think they are scams though I could be wrong. Feel free to ask any questions.
You do not have to believe me and I don't claim to have all the right answers. It's just my speculation.


posted in hashtalk
https://hashtalk.org/t/my-theory-on-what-the-hashlet-is-and-why-it-may-be-beneficial-to-both-gaw-and-customers/9984

title:my theory in what the hashlet is and why it may be beneficial to both GAW and customers

I wanted to go into detail, but have been busy, so will be short. feel free to ask about filling the holes/gaps

some facts about mining/miners/gaw/gawusers

-GAW is not a not-for-profit org, so it needs to make money
-we all want ROI or better and thus need to invest in ASICs
-shipping miners is expensive (both to GAW and to customers)
-new ASICs become cheaper and more efficient
-RMAs/warranty/support cost money
-miners sometimes are sent used from the manufacturer

what I think happens, based on my thinking and partially on Josh's comments in the past
1 Mh hashlet is sold for X amount of money.
getting a 1Mh of scrypt miner only costs say, between 8-12 bucks (just an example) - let's name this A
so where does the rest goes?
B would be hosting cost
but A + B is not equal to X
what I think happens is GAW builds up a fund with C, so A + B + C = X
C, the fund, can be used to buy more miners as they become more efficient or cheaper per Mh.
for example: getting 1Mh out of a war machine is not as cheap as getting one out of the vault breaker
if getting 1Mh out of a war machine cost, say , 20Mh, getting 1Mh out of a VB cost maybe $10
so our 1Mh hashlets get "cheaper" and that's how our "hosting" costs go lower

at the same time, GAW can reduce costs by not having to ship miners, do RMAs, provide support if something doesn't work, etc, etc, etc, so A can be cheaper than normal
B itself goes down very slowly. the 1Mh out of the war machine is a big more expensive to host than the one out of the VB , and so on
C also can go down because getting 1Mh from a future miner is also cheaper
also, something very important, is that hardware upgrades are pretty much built into the hashlet, which saves costs for both the miner and GAW

so in my opinion, this was GAW's way of working around many of the issues

(this was quick and interrupted by coworkers while typing, so feel free to correct me/ask for more details

I'd say that since they've sold so many of those little magic things called hashlets they're succeeding so far. If you read the headlines some days ago, they had sold more than 1m$ in a week and their daily sales value of hashlets were bigger than overstock.

To be fair the CEO has said multiple times that his goal is to bring as many new people to mining as possible. Being a sarcastic old git I can see the nefarious reason for doing so  but the ads confirm this is the direction they have taken.

Right. Just pointing out how large the number is. If they e.g. sell 15 GH/s worth of hashlets and mine 250 BTC each day to make the combined 500k (USD I assume, not BTC) that's A LOT even for highly trained businessmen to be able to hide.

So now if i want to change algorithm's i just have to change the color of my hashlet?

The least they can do for the people is color code their magic hashlets...  Orange def. should be Scrypt-N





Side note: This is so fucking annoying... There's literally scamlet advertisements on every bitcoin/altcoin related website on the internet..

If anything it makes me feel like they are trying too hard..  Haven't they learned that the number 1 way to turn customers OFF your product is to SPAM THEM WITH ADS

Well, it would be both.  Revenue would be total cash flow in the day.

Maybe that's the reason for the half-assed "explanation". If he just said "we are day-trading and for some inexplicable reason instead of keeping the profit decided to give it away" then he could at least have an unprovable version of what's going on. I believe there are too many exchanges and too much volume to make any meaningful outside observation to determine if they're trading or not, unless they decide to share some evidence. But he still insists that they're mining and avoids addressing the question of invisible hashrate.

Edit: Some math on the "500k a day" part. If that's pool revenue then it's about 1/4 of total Bitcoins mined. If it's Hashlet sales it's 20 GH/s per day. Pick whichever makes least sense

Awesome indeed.

And I notice he said "highly trained" instead of highly experienced or successful... Experienced successes we might have heard of, if we asked for names. Business schools turn out the "trained" in bulk.

Granted, the altcoin world could stand to pay more attention to textbook business principles. But as the man said:



difficult to believe? Indeed.

Interesting that he mentions day trading.  That would make Zenpool into a fund with the hashlet being a share. (as has already been hypothesized in this thread).

Unfortunately, if that is the case then Josh is selling unregulated securities while advertising it as something else.  That would be two felonies.

So the new thing they're going to announce today is apparently called Hashlet Solo:

https://cdn.shopify.com/s/files/1/0406/7009/files/0-Hashlet-Solo-Homepage-Takeover2.png

Single algo as opposed to multi-algo Genius Hashlet? Yes, I'm not good at this game, sorry.

Edit: copy of the image in case they remove it http://i.snag.gy/nHLYX.jpg

Misspelling the name won't make you look like you never heard of it. We are not in kindergarten

Spilling some secret sauce:

https://hashtalk.org/t/zenpool-howdeedoodat-some-thoughts/8225/132

tl;dr: highly trained businessmen

But really, read the whole thing, it's awesome.


https://hashtalk.org/t/zenpool-howdeedoodat-some-thoughts/8225/137


https://hashtalk.org/t/zenpool-howdeedoodat-some-thoughts/8225/143


https://hashtalk.org/t/zenpool-howdeedoodat-some-thoughts/8225/153

there was an announcement on hashtalk re: payout times being moved back to normal business hours instead of the middle of the night. they should come in between 7aCST and 9aCST starting today (8/29/2014)

i had the same question/problem and called to inquire about it....

After the last two days, payouts have drifted 9 hours later than the original payout time.

Well i'm waiting this this announcement later today.

Well this is hilarious coming from you!

the necessity of proof always lies with the person who lays charges.

I believe GAW lied to their customers, a lot of us listed why we believe so.  fake hashing rate, false statements, etc.
If you believe these accounts are the same person, you need to prove it.

You don't need to add quotation marks around "big mining operation".
I did show the photo of one of our mining farms.
It proves that I have sufficient knowledge to tell the difference between a real mining farm and GAW's warehouse. 
It also give you information that with a mining farm this size, we of course talked to various ASIC manufactures. Trading secret or not, I know GAW has not ordered any miners from any of those Scrypt ASIC manufactures for a long time.

Oh this is good. "The other guy is not me because we gave a different IP" It even rhymes

I could send this message to any of my friends via email or skype and have them register an account here and post it. It would take less than 5 minutes.
Rather a childish argument don't you think? Especially coming from an owner of a "big mining operation".

It's an interesting thought that GAW might just be reselling through rental sites and such and with that earning the higher payouts. Though hard evidence of mined blocks might be a better one.

Is there noone who has good contact with one of the major exchanges? There is surely some KYC needed if you pump hundreds of BTC per day over their systems