Re: GAW Zen Hashlet Hashcoin unofficial uncensored discussion. ALWAYS MAKE MONEY :-)
So people are buying chances on a chance of ROI.
Right now everyone mining hashpool are buying chances. As an investment it is a total gamble. Based on what has been released its been total BS. The valuation is laughable as well as the adoption statements(the revised white paper may start the realigning process). I'm waiting for the 1st statement that starts to back track or realign. Anyone questioning those will be banned or shadow banned on Hashtalk..
Buying any altcoin feels like a gamble to me. 99% of them are pump and dump coins not backed by anything.
I think a lot of the anxiety towards that specific altcoin the name of which is not known yet comes from the fact that it's basically forced onto hashlet owners, especially those who bought Zens at > $13, and also Primes at >= $45. You can either offload them at a loss, mine satoshis, or mine the magic coin. I doubt that many hashlet buyers prior to November expected to become altcoin speculators.
Better this choice than none. Nobody expected the payouts to drop that much, just as nobody expected Bitcoin to lose 30% of value in a month.
What was the explanation for the profitability drop anyway? All I heard was that an investor backed off.
My mining started in August and a cold calculation made me sell most of my shares (with profit) shortly after the payouts dropped. The coin is their way of saving the rest of their clients, those who are yet to reach the promised ROI. The industry is so unpredictable that they might even pull it off. A couple months ago everybody kept telling me to buy and hold bitcoin and that cloud mining will make me lose money. It happened to be the other way round.
He said it was due to renegotiations with private companies who were renting mining power. For some reason he is now in his 3rd month of the renegotiations.
Yea, and he's such an astute business man he waited till the end of the contract to renegotiate.... Excellent plan!!! The negotiation was bullshit in the first place though. He simply couldn't sustain the payouts... That's why the pool dropped in revenue, locked accounts, withdraw holds all at the same time.
Then he introduces something that is worthless but keeps the sheep happy for now. That's a lot of red flags.