Quote from: raskul on December 15, 2014, 10:23:43 PM

nicehash has hit 2PH/s and there is no let-up in the high prices.

keep renting Grin

LONG POST (you don't like my ramblings put me /ignore I don't mind...just a warning!)

well I will get yelled at for my fence sitting here but here goes and what some will call my 'evil tagline'

as you can see i have the GAW tagline below (i get 0.10 btc per month for 50 posts min had it like 5 months when gaw just sold equip till now at least)

I got it when they sold miners then hashnet now this paycoin...so far no problems..but as GAW move into paycoin 'ethics' may be kicking in due to
plain confusion on my part about GAW Josh and the whole mindset in general on if this is a well thought out SCAM from the get to or if they really
think at GAW that paycoin is the next big alt coin and may be 'simply deluded' which means no ethical issues ..just plain out dumb idea/marketing etc
by GAW (up to this point...failure could morph this into SCAM territory if the paycoin fails don't ya know ..denial)

so my problem is ethics wise (ie what I'm doing) can be put on two parts

1) I am mining my KNC Jupiter 567gh machine on nicehash...and getting 10x the price I could get on their sha256 coin...compared to btc. I have little problem with this
in that new coins are mostly SPECULATION AND HYPE to dig themselves out of the herd and hope to be noticed ..so if GAW wants to make a coin and POW
with it first before selling it as 'virtual miners" to others as a POS who am I do judge....(I doubt when everyone sells at the 3 month mark it will work) but
hey its an alt you have the right to dream a little ...even if you are GAW and you really think your paycoin will be the next big thing (who am I to say still... confused about
dodgecoin?) so I've no ethics problems about the above in that imho all alts fall into this at the start...again 'my view'.

2) the more difficult ethics question on if to keep the tag line or not below....well my current thinking (at least till this weekend when it all pops at GAW should
get some clarity there) is that the main folks at GAW have the hubris and maybe desire (delusion?) to believe at the very least they can get paycoin out and
it will eventually be as big as Litecoin...(i refer you to hype/etc on their forums/tweets/posts etc).

Now from what I can tell from GAW execs and others involved high up from the CEO down ...I think they really do frigging believe they have the next great coin
and virtual miner concept is brilliance on their part...(guess on the miner side numbers will tell) and they have a 'real shot' at being a successful alt coin (paycoin)
linked to a virtual miner operation that will be the 'next great thing' so to speak

Just as BFL at the beginning thought they 'could' build miners and KNC thought they 'could' deliver 2nd generation miners.....GAW seems to think the same.

So in other words it is not a SCAM per say if you have drunk the kool aid with everyone else. Which again (imho) seems to be likely at this point in time.

After this weekend and when it all may go all 'pear shaped ' so to speak ..how they adjust to that new reality...will tell me much on if imho it is now
morphing into 'denial' and 'scam' territory' ..when the dream may die so to speak....that will tell us much..at this point the SCAM could then morph
into reality in a big big way......a way to save face/$$$/ego etc...remember most conspiracies (or scams) happen after a failure to 'cover up" so
that will be the real test of GAW when that point is reached. (again trying to be even handed here for arguments sake...but even I had a hard
time typing the above line) but anyway pressing on with my rationalization

so in conclusion this may all be a big rationalization on my part (likely) so i can mine sha256 coin at 10x the btc rate and/or keep my funny gaw tagline....
but again ....everyone is so 'kooky' in all this ..GAW hype of Paycoin seems like company and customers
alike at this point in time ALL have drunk the kool aid ...so it is not a deliberate SCAM ....(MAYE YET?)
.and then again as I said I can't figure out how dodgecoin works at this point in time either...so I will give GAW a bit more time to fall flat on face
or succeed on this ...not tagging them at this point as a 'deliberate scam' in that they may be deluded as heck but not scammers yet (again imho)

anyway know people when I got the tagline and GAW did miners then hashlets well the early guys did OK....now moved to paycoin and my bet is I probably
will have to dump the tag line below soon ..unless some more clarity on wtf is really going on with paycoin and their 3/6 month scheme and such.

but mining on www.nicehash.com gaw's attempt to make an alt coin...more power to them ....anyone can do that or I should say 'try that'

but if paycoin is not SCAM from the get go at GAW and a 'possible deluded but real effort" by GAW to get paycoin in the mainstream ..
well flop it might but does not YET hit (again imho) meet the threshold of a scam....

again massive rationalization (it could be on my part) (likely) but how I manage to fence sit so far (although getting a bit wobbly up here)...things
imho will be quite clear one way or another by jan 1st 2015 on all this paycoin and GAW drama shakes out in the next couple weeks.

and I leave you this clip on 'rationalization' which I would imagine for a lot of us who have our 'toe' dipped into this whole GAW endeavor ..in one manner or another
pretty much sums up from josh pres of GAW to myself and all those in between what "may be" going on at GAW and maybe their real deluded attempt to get out what
they think is the 'next big thing' (silly hairless monkey primates that we all are ..er DNA wise)

anyway rationalization explained via the film "The big chill" youtube below ..pretty much sums up 'in the BEST case scenario" what is going on here imho
the more dark versions of what may be going on here are also on this thread.

https://www.youtube.com/watch?v=X9FJiDFVoOo

then again wtf do I know I bought from BFL back in the day (miracle I got a refund) and NO I DO NOT own nor plan to any hashstalker virtual miners at this
time due to the above concerns...just from my somewhat wobbly fence sitting here with my tag line and such..how I see it at this point in time..but I
have real doubts that if it is not in the true sense a scam now due to intent the temptation to be a scam later when it starts to unravel will be huge.

Anyway my take on this thru the lens of 'self-interest' I kinda think the whole issue of scam or not will be resolved within the next week or so and be
clear to all....

I will now hide in my 'mental' bitcointalk bunker for the inevitable barrage of crap coming my way on the above post...INCOMING (ducks!)

Searing