Topic: GAW ZenCloud ZenPool Hashlet - does it really exist? ALWAYS MAKE MONEY :-) - page 77. (Read 262906 times)

zenminer payout is lower and lower, day by day...

Probably by few weeks, our accounts will start going negative for fees being higher then daily payout...

Sincerely, I am moving to cointellect http://cointellect.com/?code=893cbbad having discovered it more profitable then zenminer.

I hope zenminer will come back to be the more profitable cloud mining like before...

So today I get email from GAW 'support' saying they have closed my 2 week old ticket (raised because I am unable to split my last hashlet to sell it off) because its been resolved? My immediate thought was "resolved by whom??" They didn't even offer a solution  .

No doubt this is how Josh is going to meet his promised 24 October deadline by which time he claims ALL support tickets will be resolved. Its a simple solution really - just close all the tickets off resolved or not!  LOL

This is an old post I'm quoting, but after reading how full of shit it was, I really just felt the need to kitchen sink this and say:

No, you don't have genuine proof. I know you don't, because I do know better.



I'm not making any claim on the legitimacy of their business, only on the claim above about "insider information" proving anything said above.

The service is one of the things that piss me off about this mob.  They have "implemented" an ITIL tier system, but I am not convinced they still know what they are doing with their service desk still.  You say that was fast, that's great because that is an issue that is new/occurred today.  I still have month old tickets in the system that should be well and truly resolved by now....but since they are old they are hoping I dont respond so they can close them off as a resolved without actually doing anything about it.   

So yes the service has improved but only from a date and time of their choosing and is not backwards compatible on existing tickets.

I shouldn't need to remind any CSR in the forum my ticket number if I complain about it,  this just means NO ONE has the case in their queue or are even looking at it anymore.

I just have a few Solo's remaining.

I got a fast reply from support:


Good service. Buggy software.

Yeah there was a notice in zencloud pertaining to service charges on Genesis. Not sure if this is what happened to coinGeek. I've been hearing complaints all week that span the gamut.

What do you have? Maybe some less-than-10 GH/s Genesis hashlets? Those are known to have glitchy fees.

Same thing today. My account was almost empty at $0.99 on Monday. Yesterday it went down to $0.40 and today it's $0.04. I will be funny to see what they do when my account goes negative.

It looks like I'm being overcharged though so I submitted a ticket. We'll see what happens

that sounds very fishy...gaw miners trying to be bernie madoff of the btc world or something?

https://bitcointalksearch.org/topic/bitmain-confirmation-827552

Meh, I've sold plenty and it's not so hard to understand plus they give you three chances to see what you're doing before you do it. People that screw this up should slow down or are too stupid to be in crypto to begin with.

His comment was relevant in this situation, because you're not making a point, you're ridiculing the situation.
Your every post is advertising a competing cloud mining am I right? So even if you write something completely pointless it's all good, as long as the signature is visible.
You're also citing ad hominem, but writing in the same manner: Of course rational thought is not big in the GAW camp these days so maybe logical fallacies don't bother you.

This is such a dumb statement and this is because these people are to lazy to read.  It says selling price not selling price per mh/s, maybe these people need to learn to double check what they typed in before clicking confirm three times.  I have put up a few 5 mh/s zens on the market and before I even clicked confirm I double checked that I had the right price in the box.  In the end I don't feel bad for these people for not checking everything before they clicked confirm THREE times.  Why the hell would GAW want to make a commission off a 20mh/s sold at $16 when they could make a higher commission off of 20mh/s sold at $320.

Wow thats some low numbers...but then its kind of reflective of the all-time low payouts atm...

Suddenly the $16 I got for my zen's some days ago looks pretty good.

I'm just glad I'm out.

Edit: Heres yet another example of how easily you can get burnt on Zencloud (despite numerous warnings about this issue to Josh himself who obviously couldnt care less as long as he's making money) https://hashtalk.org/topic/13209/accidentally-sold-20mh-s-zenhashlet-for-18-05/4

I had to drop to:

$8.60 per multihashlet
$9 per Cleverhashlet
$9 per Wafflehashlet
$14 for zen hashlet

in order to finally sell my remaining solos.  It is interesting that the lowest prices in the market are not even taken after 24 hours .. I know because for the past week I have progressively lowered my hashlet solos to be below the lowest price and yet few sold.  I had to reduce by 20% or so below the lowest price before I got them sold.

Thank god, I am finally out with only a small loss (about 35K invested originally if you include hardware prices of converted miners so I was sweating this one).

Hahahahahaha!

To be honest, I'd like to ditch the free cleverhashlet they gave me but with the rates in the hashmarket they don't tend to go that fast.

This sums up the last few pages of this thread quite nicely, wouldn't you agree 

Re-read my comments.  I did not say GAW was a scam. I said it was an illegal investment scheme.  There is a difference. 

My point is that all you are doing is handing GAW BTC in the hope that GAW will invest it wisely and give you honest and fair returns.  There is no other way to understand Primes or Zenpool based on what Josh has said.

-> What are the limits of Josh's investment discretion on Zenpool?  Can he lend out hardware (yes, he said as much).  Can he lend out BTC (say on BTCJam)?  Can he use Zenpool to play Satoshi Dice?  Can he invest in the stock market with Zenpool?  Can he accumulate funds in zenpool to be used to place pre-orders with ASIC companies?  Can he use Zenpool to buy a jet to fly to vegas in the hope of getting more investors to put more money into zenpool to boost its purchasing power?  The truth is, GAW can do ANYTHING with that money. 

-> It is not even clear what funds and/or miners consitute the Zenpool pool (how much of each $ purchased goes into the "zenpool"?  Is Zenpool kept separate from Prime pool?  LTCpool?  )  Does each zenpool miner purchased mean that another physical miner is added to zenpool with hash power at least equal to the hash power purchased?  If not, where does the rest of money go?  etc. etc.

What I actually said was that Zenpool at least (and possibly the other hashlets) is "illegal as hell".  I stand by that assertion as Zenpool is nothing other than an investment pool but without the disclosures and duties that come along with a legal investment pool.  Take a look at any mutual fund, hedge fund, or other investment pool.  You will find a detailed prospectus along with detailed risk disclosures.  Where is that here?  it isn't because its illegally run.

That may mean its a scam (as I have said before, it lights up ALL of the red flags for a ponzi).  BUT it may also be the case that Josh is a good guy with the best intentions.  I speculated elsewhere just now that maybe Josh is using the money from hashlet sales to buy up the Bitmaintech L1's that were suddenly sold out.  If he bought enough of those to equal or exceed the hash power of the hashlets sold, then its NOT a ponzi and NOT a scam.  It IS, in any case, illegal without the disclosure required of an investment pool.

Well I call BS on your comments too.   At first ZenPool was hard to believe, but just too much has happened and too many people and companies are involved now.  If it was a scam, it would have already fell apart.   

  Wikipedia definition here

For example, it is an ad hominem fallacy to argue that one should ignore the very relevant concerns about GAW that I have expressed, on the basis of a link to a completely different company in my signature.

Of course rational thought is not big in the GAW camp these days so maybe logical fallacies don't bother you.