Quote from: suchmoon on November 21, 2014, 06:04:28 AM

Quote from: kupan787 on November 21, 2014, 05:50:26 AM

From https://www.cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/

Quote

We will be bigger than CEX.io in less than one month. They are the biggest cloud mining company in the world. And we’re just getting started. Projections have us at a couple million miners by the end of next year.

Many problems with this statement.

1) Hashlets don't mine. Josh has said this himself. Therefore, if you own something that doesn't mine, are you a miner?
2) If we ignore that, and consider you a "virtual miner", can you claim to be bigger than CEX.io?
3) If we ignore that, but look at the numbers mining HashPoints, is there a leg to stand on for the above statement in any way?
4) Projections by whom? I'd like to see some real numbers of growth rate of investors/"miners" (how many are you adding each week since inception) so that we can judge this statement? Otherwise, it is just more conjecture.

EDIT:

Sorry, kept reading and came across this:

Quote

The majority of our customers order between $500 and $1500 per month in Hashlets.

So if we assume that "a couple of million miners" is like 1.5m today, and majority is 50% (so 750k), and we take the lower of "between $500 and $1500", then they are doing $375m per month in sales. Is that even remotely possible?

https://twitter.com/gawceo/status/535550692350758913

Quote

WSJ are doing their validating our numbers tomorrow, so I think we will see something from them first

Is that what you're looking for?

Edit for your edit: they will have 2 million by the end of next year, so maybe it's not 1.5 million yet. Actually there was a 100k number thrown around hashtalk, in the context of 2% customers using the forum. So let's say it increased to 200k since then. Also $500 to $1500 might be mostly market sales, so they get only $50-$150 per customer. Does that make it more believable?

I interpreted the statement to mean 1 million hardware miners. It seems farfetched that they have 1 million customers hashing, and at least 500,000 (a majority) spent $500 ($250,000,000 total per month). I don't think GAW operates near the billions.

Maybe a majority of 100,000 users, ($25,000,000 per month) not 1,000,000 users.

Edit: After a rereading of the article, he is definitely saying a couple million users ... but they don't have that now. The couple million must be an order of magnitude more than what they have now. We'll see, but I don't think there are enough people into crypto overall to get that many, especially when they operate in shadows, and even with his marketing, I don't see that many suddenly joining in.