Topic: GAW ZenCloud ZenPool Hashlet - does it really exist? ALWAYS MAKE MONEY :-) - page 3. (Read 262950 times)

Even better... try staying focused on what I was trying to explain and keep it WITHIN that context. Likewise, not switching between your real/bogus accounts may help.

If you can't reasonably understand the differences between real physical mining and make-believe processes that emulate mining, then there is little else to say. I tried...  

Scott-

This thread is almost worthless now with all the fake legal posturing. Give it a rest or take it elsewhere.

I didnt miss anything... only thing I am getting out of this is "IF"

If this would be applied to HashCoin

If is far from definitive and is uncertain... For instance IF you won the lottery you would be rich
but the probabilities of that happening are far from certain.

NOW " darkangel11 " you better be on your best behavior i dont want people to only see words and not numbers OR the fact im senior member and you noobie. I am just saying please dont cause drama for those who dont read full name and think its me. 

This wont happen i like to compare GAW to the oil/gasoline industry. The price of crude oil is down like 50% from last year "example " but the price of gasoline at store is only down 10%. People always say it lags behind takes 4-5 quarters for price to drop as it is digested or some crap like that. But if the price of oil went up %10 next week you can bet the waiting of 4-5 quarters goes out the window and the price of gasoline at store goes up instant.

I think you missed something.

https://hashtalk.org/topic/17657

LOL you made me laugh... RU SERIOUS???

Crypto currency is based on decentralized block chains and there is nothing decentralized about monopolizing a block chain by one entity? That breaches the basic bottom line of the definition of crypto currency, No matter how you try to define it. I dont know what GAWS/ZEN trying to do, but one thing for sure calling it a crypto coin is very misleading.
 

The funny part.

Following this:
Cryptocurency is virtual
Cloud mining is virtual
Radio waves are virtual
Digital pictures and documents are virtual
The internet is virtual

Does virtual mean worse?

I am glad you find rational thought funny. You come across as exactly the type of customer they love.

First lets, define a few key points before anything is debated, which I welcome unlike someone else I know of who would rather censor, band, and/or threaten with legal action - even if he/she/they have no fundamental legal merits to stand on.

What do I consider virtual in regards to mining and/or pools?
As someone with an actual hardware based mining farm that I can physically look at (inspect), control, and tinker with, anything that does not at the very least meet one of these traits is "virtual" in my classification - remote or not. Likewise, one of the many TOS resvisions made by GAW/Zen has finally admitted what many suspected regarding their own classification of their "Hashlet" miners being "digital" in nature, which can also be included in the "virtual" classification if you're in to semantics. Lastly, the simple act of naming their in-house pools after real-world known and verifiable pools, in itself does not afford them the liberty to say they are "mining" these pools or given expressed permission to use the names by the real pool owners; especially when they are not willing to provide any proof of who or what is actually being mined. For over 6 months, every real pool operator polled, including NiceHash, has gone on the record stating there is no and never has been any real activity on their networks that would reasonably conclude any mining by GAW/Zen ever took place - at least on any fractional scale of what was being claimed by GAW/Zen at any time.

Why do I believe Hashcoin is mythical?
Because it is... There is no third party verifiable proof of concept, code, blockchain derivative, or proper wallet infrastructure that would lead a reasonable person to believe otherwise. In my view, nothing presented to date at hashcoin.com or elsewhere, including their poor attempt at a whitepaper, is reflective of what is required by the crypto or investment industries to openly support the release of this new altcoin derivative that is promoted by its "developer" as "world-changing" with the backing of multi-billion dollar entities. I'm sorry, but the real world doesn't work that way. 

Who am I to say such things?
Well, I do not claim to be a HashKing or HashTitan like others we will not name here nor is it my intent to come across all high and mighty, but since you asked - look up my name via my callsign.

What have I done for crypto?
This is where I believe the men are separated from the boys. The nature and roots of modern day cryptography goes back several decades (pre-WWII) and more times than not, those who do anything to progress the ideals and technology as a whole make it a point NOT to advertise it or brag about anything. With that said, below is a very brief and already public summary of my work in the arena - over the past 20 years at least.

1997 - Designer and developer of the first 100% US based micro-universal ISO7816 smart card reader/writer utilizing a simple RS232 TTL line converter (age 25).
1998 - Designer and developer of the first 100% US based and self contained universal ISO7816 smart card development terminal that utilized secure 8-bit cryptography management via an Atmel AT90S series MCU (age 26).
2000 - Facilitator and co-developer of the CHAOS rolling code algorithm that has not, to this day, been broken as it does not include nor fascinate any computational backdoors (age 28).
2001 - Contributing member of the Microsoft PC/SC Consortium that helped established and evolve the PC/SC single-sign-on process (age 29).
2002 - Contributor and co-developer of dozens of embedded smart chips cards with up to 32bit RISC based encryption processors @ 120MIPS and secure memory storage capabilities exceeding 16MB per wafer (age 30).
2004 - Present -  Partial retirement, but still active worldwide. I hardware-mine BTC and other cyropcurrencies and I have found a nice home within the Dogecoin community, which I find is an excellent platform to teach and bridge the gap between the crypto world and traditional FIAT based society. I have my own philanthropic venture at dogecoin.pro and have quietly contributed to the formation of the Dogecoin Foundation v2 as I have had time.

Even if you, I, or anyone else cannot physically see or hold BTC or these other existing and proven cryptos, they exist based on their clearly defined mission statements, demonstrable merits, and functional utility; something GAW/Zen has not been able to show to date, among other things, and why I have lost all personal faith is what they stand for.

I can go on, but it is my hope that is more than enough background for you to accept that I am not talking out of my arse and why I am so passionate when I see what I believe to be a person or small business trying to take advantage of and attempt to (what I consider) rape the industry of the principles it was built upon for his/their own financial gain. With all this said, a very small part of me still wishes GAW/Zen is able to step up and prove my better judgment wrong, but for all intensive purposes I do not see that happening.

Scott-

I find it pretty funny that you keep saying "virtual" and "mythical" when referring to hash coin or zen pool. What is BTC? What have all the nay Sayers been saying for years? What about all the other mining pools? I am pretty sure they are virtual because I can't find one to jump in. I can't touch BTC I can't see a BTC so someone could say it is fake or a myth and that you can trade this myth but for how long? It is not backed by anything it has no real value other then what you or I put on it. No one really knows what it will be worth until it is traded on the market. It could be a hit or it could flop. No one knows right now so stop acting all high and mighty like you know all. Can I ask you what have you done for crypto? Have you tried to help advance it? Or do you just complain? GAW is trying to advance it in a way they think will work. Maybe it will maybe it won't only time will tell. So instead of complaining about GAW how about you do something to make it better. Even if you fail at least you tried. All I see is an arm chair quarterback throwing crap every where.

Watch the amount of BTC taken out in the next payout. You will see it will be less BTC. It is the same old 8 cents it has been. Just like most people that mine with hardware you pay electricity for the rig, you have to cool it, you have to pay for that space and the people that watch over them. Their costs are in dollars so there fees should stay steady until they feel comfortable lowering fees, financially speaking. How has everyone's home miners been doing the last month? After you actually pay all the bills. Now with that said they have issues with them drawing us in to mine To be paid in BTC and that the pool they claimed was so good became just another pool. There was a high premium paid because of that pool. If people would have known it was based on a short term contract people would not have paid that premium.

I just read that people won't even be able to convert hp to hc straight away while gaw "mines" enough hc to allow conversion. Fuck how are these fools thinking this will make them rich?

Yes. This is the problem I'm having with them at the moment. They are basing the fees on dollar value ($0.08/mh scrypt), yet as BTC is gainging in value to the dollar, we are not seeing the fees dropping.
It does not make sense, as BTC has gained 30% on the dollar, fees should have gone down the same 30%.

Regardless, one can reasonably assume it is not what they say in their ads, it is what they leave up to you to discover and/or blindly accept after the fact, yes? If so, that's a sign of a real honest company right there - not.

It appears while just about every other cloud mining business is reducing fees (some multi-times in the previous 3 weeks) and earning customers' more revenue based on real world numbers, this single self-proclaimed industry changer has done nothing to reduce fees and/or resolve the pitiful "virtual" pool performances vs. high costs associated with investing in them. Oh well, at least they have their mythical coin that will be worth its weight in gold if/when released.

- BUYER BEWARE -

Even that might not be necessary. For example right now ZenPool is at the top again, but the rates overall are so abysmal compared to 22 HP per MH/s that it doesn't really make much of a difference. This might go on forever with a heavy incentive to mine HP/HC instead of BTC. HC just needs a long maturity period, or high interest rate, or some other disincentive/protection against dumping.

I believe Josh's answers to those questions were:

1. Zenpool is the most profitable pool on average over the course of a month*

2. You haven't waited long enough


*He will be able to extend this claim all the way to "most profitable over an average of four months," so prepare for Zenpool to continue sucking for another 90 days.



Just need to point out: anyone who bought BTC instead of GAW crap in the last 30 days is now up more than 400 days of mining.

Are you talking about bullets 3 and 7?  Yes right now that is false advertisement, seeing that HashBit or whatever it's called is paying out higher than ZenPool and there has never been any depreciation on the maintenance cost for the Primes.

SoooOOOOoooo... has anyone received word on a viable resolution to at least the two most obvious bullet points below that have either not materialized or have been proven inaccurate? To clarify, this is from GAW/Zen's own product page (http://www.gawminers.com/pages/hashlet), which is still present and being marketed to potential customers at the time of this posting.

Yea I think it's commonly known that their mining performance pretty much sucks. The only sell they have is if hash coin works. And given their unreliable history with other technical efforts I have my doubts.

I sold off enough to at least break even and invested elsewhere. So if it goes bottoms up no suprise and won't lose out a bunch.

People buying into it now have to be very foolish or the type that gets robed in pump n dumps.

Well raising the "maitenance" rates to 80 or more percent to mine BTC was a motivating factor, then the "mine their HashCoin" was a bit of a bait and switch. I do mine other coins and they are of my choosing, not because I am being forced to. I thought about it and choose to sell my miners and apply the funds on a legit cloud mining service rather than being forced to mine this hash coin.  I am out of GAWS and ZEN and got some bargain BTC miners to replace the GAW/ZEN.... when BTC was around $325, I didnt loose much. But still I cannot under stand why people are wasting their time and money messing with the Hash Coin uncertainty when they could have been mining BTC and banking profits before the run up.

BTW at the moment GAWS is no where near the best cloud miners.... I do not deal with any that charge more than 50% maitenance.