Ninjastic
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Re: GAW Zen Hashlet PayCoin unofficial uncensored discussion. ALWAYS MAKE MONEY :-)
by
inBitweTrust
on 22/12/2014, 21:43:14 UTC
Quote from: dandana on December 22, 2014, 09:36:40 PM
Can you please explain me what ponzi scheme was with cloud mining Huh Thanks... what i was missing from cloud mining part Huh

GAW was likely fractional reserve mining. There was proof of 5PH but that was a fraction of their sold contracts. Which would mean they were running a ponzi by paying out a percentage of rewards from new contracts signups instead of 100% mining.

Evidence:

https://bitcointalk.org/index.php?topic=875487.0

https://bitcointalk.org/index.php?topic=878387