Re: GAW Zen Hashlet PayCoin unofficial uncensored discussion. ALWAYS MAKE MONEY :-)
Here is some math to illustrate just how bizarre this thing is and also why nobody seems to mind the deadlines being pushed out.
You can buy a ZenHashlet on the Market for less than 13 USD at the moment. It "mines" 19 hashpoints per day. End of round 2, i.e. when hashpoints become PayCoin is 13 days away. So by that time your Zen will have mined:
Conversion rate is promised to be 400 hashpoints for 1 PayCoin, and 1 PayCoin for 20 USD. In 13 days your Zen will have mined:
Nearly 100% ROI in 13 days and you still have the Zen, which you can sell in the Market or keep mining ZenPool. Now imagine if GAW "by popular demand" extends hashpoint mining for another two weeks - this will DOUBLE the profits. Who wouldn't want that?
Any questions?
You can buy a ZenHashlet on the Market for less than 13 USD at the moment. It "mines" 19 hashpoints per day. End of round 2, i.e. when hashpoints become PayCoin is 13 days away. So by that time your Zen will have mined:
Code:
19 * 13 = 247 hashpoints
Conversion rate is promised to be 400 hashpoints for 1 PayCoin, and 1 PayCoin for 20 USD. In 13 days your Zen will have mined:
Code:
247 / 400 * 20 = 12.35 USD
Nearly 100% ROI in 13 days and you still have the Zen, which you can sell in the Market or keep mining ZenPool. Now imagine if GAW "by popular demand" extends hashpoint mining for another two weeks - this will DOUBLE the profits. Who wouldn't want that?
Any questions?
....
Now imagine if 30% of these people decided, that after a month of no income, they want to get ROI? That would be an $80 million bite taken out of Josh's floor. What if people notice that gigantic action and
What is the size of Josh's floor? Is is $33 million, or did he raise it up to $100 million?
Better hope that "venture capitalists" don't get to the market first since their $2/coin buy-in will allow them to sell this sucker into unprofitable mining territory.
MOB - I think part of solution to a massive sell off is having this go POS... Also, the orion/prime controllers require the paycoin to stay in your wallet... So - I think a lot off the big players of paycoin, at least from the GAW mining scene, will be holding their coins.
This would be true with the large investors as well... From my understanding the real money to be made is in the controllers - which require the stake in paycoin to stay in the wallet.
Dunno if that will work and no one knows how much a prime controller will cost atm... So should be interesting to see how this pans out.
The point still stands though. If 30% of the "average" people that have received no mining income in the last few months decides they want to actually break even, then that is an $80 hit to the market.
Personally, I think a 400% profit in 4 weeks is quite generous. Unbelievable so (clearly). You are really going to hold out for that extra 5% per year or the hope that Paycoin keeps going up?