Quote from: suchmoon on November 09, 2014, 04:42:34 PM

There is another thread here: https://bitcointalk.org/index.php?topic=720844

I tried to collect all known concerns and GAW's responses in the OP, but it's a bit outdated now because GAW started moving from "cloud mining" into this new coin code-named "hashcoin".

You 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.

Thanks for that. I see I'm late to this party.

Quote from: seedtrue on November 09, 2014, 04:45:02 PM

Quote from: dooglus on November 09, 2014, 04:14:12 PM

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?

Well for one thing, Hashlets are not specifically tied into one type of hardware. They are interchangeable with new tech AFAIK. "Always profitable" could even mean that a 100 MH Hashlet makes $0.01 profit from mining 1 week after fees.

Profit is what you get when you subtract income from expenses. If the total income is smaller than the initial cost, there's no profit, right? So "always profitable" would be more accurately expressed as "always getting closer to being profitable, but probably never reaching it"?

If the old hardware never mines enough to cover its initial costs, how are they going to afford to buy new hardware to replace it with without charging existing customers more? Do they use money from new customers to pay out the older customers? "Never obsolete" isn't possible in Bitcoin mining, not without spending a whole lot of money to keep replacing old hardware with new.

Quote from: seedtrue on November 09, 2014, 04:45:02 PM

Quote from: dooglus on November 09, 2014, 04:14:12 PM

And what's this about being the first DIGITAL cloud miner? Were all the previous ones analogue? Isn't all mining digital?

I think this is just a situation where Josh(CEO) was trying to sound more technical than he understood.

They should stop using that line. It makes them look dumb.

I understand that there's power in using hyperbole in advertising to get more business. But for something like Bitcoin mining where presumably your target market is tech savvy, doesn't this just turn people off?