A friend told me yesterday he had bought some GAW cloudmining thing, so I tried looking into it.
I had previously always thought that cloudmining was a waste of money, and that you'd be unlikely to get your investment back ever.
Now I'm even more confused. I apologise that I've not read this huge thread to see if these points have been brought up before, but figured I should ask before concluding that the operation is a scam.
In the forum ad (quoted above) I see "Never obsolete" and "Always profitable". How can that be? If the difficulty continues to rise, all existing hardware will become unprofitable and hence obsolete. How do GAW ensure that this never happens?
What does "no pool fees" mean, when their site clearly says that pool fees are built in to the price. If pool fees are 0%, why do they need building in anywhere?
And what's this about being the first DIGITAL cloud miner? Were all the previous ones analogue? Isn't all mining digital?
Claims like this make the operation look scammy - but maybe I'm misunderstanding something. Have these points been addressed somewhere before?
Thanks.
There is another thread here:
https://bitcointalk.org/index.php?topic=720844I tried to collect all known concerns and GAW's responses in the OP, but it's a bit outdated now because GAW started moving from "cloud mining" into this new coin code-named "hashcoin". See hashcoin.com for that. The thread itself has degenerated into all sorts of trollery along the way so I wouldn't suggest to waste your time reading all 200 pages, maybe just the last 20 or so.
Here is another smaller thread where many of the same and other concerns are raised:
https://bitcointalk.org/index.php?topic=835464You can also visit GAW's official forum hashtalk.org but it's so bloated, not sure where to even start. Maybe in the Announcements section, and also check out user gaw_ceo and his post history to gauge the official position. Keep in mind though that the forum is heavily censored. Dissenting posts tend to vanish along with their authors.