I agree that we should sell them as fast as possible on ebay for as close to the equivalent price we paid in fiat as we can. That way we at least have a shot at making an ROI in terms of bitcoin because the price is lower now than when we paid.

Oh and I am selling my 5 shares if anyone is interested, make me an offer.

GHS is a different animal because it is like a financial instrument in that it can be traded instantly. If you are buying GHS and thinking you will make a profit off of mining you are an idiot and you should be buying an S3 or Asicminer. If you are trading them with strategic timing it is really easy to make money. Buying GHS is essentially a bet that the price of Bitcoins will go down, selling GHS is a bet that the bitcoin price will go up. Buying GHS is kind of like a weird way to short bitcoins.

For example, a couple weeks ago when the price of GHS hit ~0.0033 I bought 100 GHS because the bitcoin price started tanking. The GHS price jumped to ~0.0039 a couple of hours later and I sold them and made over 0.06 on the trade, plus whatever I mined.  Since each bitcoin was worth less, it took more them to buy GHS, thus the price per GHS jumped.

Hashlets are a completely different beast because there is no instant buy/sell marketplace. You are in it to make money from mining pure and simple. If the alt coin marketplace implodes there is no way to quickly offload your hashlets to save face, you are stuck riding the train to the bottom. Furthermore CEX has been transparent from the beginning in terms of showing that its hash power actually exists. You can look at the hashrate distribution on blockchain and see every block that it solves proving that its hashrate is indeed legit. Meanwhile GAW has completely hidden every traceable aspect of hashlets while paying out impossibly high rates.

Even the best explanations given for how ZenPool is able to consistently payout 150% do not add up (if you read the thread, GAW_CEO backs the theories up). And while they account for some of the difference, the problem is the consistency. If GAW really was using its market maker status to mine, hold and then trade strategically, some days the payout would be tiny, while others it would be huge.

This is actually the technique that was used back in the day (last December) to great success by h2odysee the admin of Middlecoin, one of the earliest multipools that exchanged earnings to bitcoins. In the beginning Middlecoin grew ridiculously fast (especially after the hashcows hack), it was the market maker of its day with a solid percentage of the total scrypt hashpower. Some days you would make less than mining litecoin, other days you would make an absolute killing when he made a strategic trade of an alt he was holding. The big days would more than make up for the bad days and it was wildly profitable compared to straight litecoin mining. After a bad streak and the rise of other multipools with better UIs and consistency (Waffle, Clever, etc), middlecoin lanquished, the admin quit and the site died. How is GAW able to use this same technique, yet every day have consistent payouts? It just doesn't make sense, especially with the alt coin markets doing so horribly these days.

One thing I haven't seen mentioned in this is thread is where is the exchange volume? We haven't been able to find the missing hashrate, maybe we can find the exchange volume? If the hashrate really is 250 ghs, the number of coins mined would be astronomical. They need to exchange them to bitcoins somewhere. Has cryptsy, bittrex or mintpal experienced huge volume growth since the hashlet launch?

(Full Disclosure I bought 15 mhs of hashlets when the price was 15.99 and I plan to ride it out to see how it goes)

I disagree about the scrypt difficulty. With scrypt there is a constant influx of new alts coins which means difficulty doesn't matter. Multipools have such large hashrates that if difficulty jumps on one coin they just switch to an easier coin until the diff retargets back down. So far this has negated the already shipping scrypt Asics like Zeus, Gridseed, etc. There is also constant price manipulation on the exchanges that make certain days wildly profitable for mining scrypt which doesn't happen in the larger normalized bitcoin market. The real thing to worry about is the price of BTC skyrocketing which would cause the exchange rates to plummet, thus killing multipool profitability.

I vote to get a Titan instead of a second Neptune and use it on a multipool like Trademybit, Wafflepool, etc.

Isn't today the last day of Q2? Any word on shipping?

The Titan hashrate was increased again to 400 MH/S

coins-e doesn't seem to be working, there is no way to make a deposit address through them

Trading is beginning to heat up on the exchange.

Scrypt is a harder algo to mine, thus the hashrate is lower. A mh/s or megahash is 1/1000th the speed of 1 gh/s or gigahash. 1 Kh/s  or kilohash is 1/1000th of a megahash. In other words 1000 kh/s equals 1 mh/s. 1000 mh/s equals 1 gh/s. Its like the metric system applied to hashing power. Since scrypt is harder to mine, it uses mh/s and kh/s. Bitcoin used to use them too up until last summer/fall when difficulty was a tiny fraction of what it is today.

Yes 2.5 ghs is worthless now, it will take well over a week to earn 0.001 BTC or about 58 cents. I imagine that you have something like a USB miner? if correct you should stay away from them in the future because they are always way overpriced almost never ROI anymore. You are probably paying more in power costs than you are earning already. SHA mining at this point requires a large investment to be worthwhile, as you spend more, you make more. They key thing you need to account for is power consumption.

For example Bitmain is one of the only truly trustworthy asic manufacturers. If you go to their site, you can buy a two Antminer S1's for 0.838 BTC for 360 GH/S, or about 0.00233 BTC per GH/S. But if you spend more money and buy the Antminer S2 you get 1000 GH/S for 3.961 BTC, or 0.003961 BTC per ghash. You may be thinking that the S1 is a better deal because it costs less per ghash, but your forgot about power consumption. The S1's use about 2 watts per ghs, while the S2 uses 1.1 watts per ghs, almost half as much. Taking this into account, the hashing numbers even out and the S2 is still a much better deal. Why? Power consumption is what makes a miner obsolete. The S1 will start start to cost more in electricity than it mines sooner, while the S2 will keep on hashing and earning a return.

That being said, I recommend you stay away from SHA unless you are ready to put some serious money into it and instead focus on scrypt. There are so many scrypt coins that the difficulty isn't as astronomical because you can just switch coins when difficulty jumps. Or use a multi pool like Waffle Pool, Trademybit or Clever Mining that automatically mines the most profitable coin and then automatically exchanges the mine alts and pays you in bitcoin. DO NOT BUY GPUs, instead because scrypt Asics are pricey you should consider a group buy from someone trustworthy like Waldohoover at CoiningSolutions. For $49 you get a 1 MH/S share in his current KNC Titan group buy. This would have cost over 10 to 15 times as much a couple months ago when you had to buy GPUs to build dedicated miners. There are also bitcoin group buys in the group buy section of bitcointalk, although they aren't as profitable or popular as they once were.

Mining is hard, its a hustle. You need to stay on top of it or else you will get burned badly. Do not invest more than you can afford to lose, especially since you are pretty late getting into it. Good Luck!

The other big pool is http://darkcoin.miningpoolhub.com/ and it seems to be where the whales with hundreds of megahashes mine. I switched over from drkpool and have had zero connection issues.

No problem man, I just don't want you to get screwed. Havelock could have good people behind it, but its just sketchy how far they took their ToS. They went out of their way to take zero responsibility even if they aren't going to be intentionally fraudulent.

I really wish there was a trustworthy Kickstarter competitor for crypto, that is what you really need. Or a rich hero member as an angel investor.

Using Google Chrome you can right click any website and select "Translate this page" to automatically translate it. The developers didn't do a very good job making the page translatable but it works enough that you should be able to figure it out. It looks like the top left market it BTC/CNY.

Thanks!

I was an intern at Merrill Lynch in college for a year, the number one thing the big brokers drilled into my head was do not mess around with something without reading absolutely everything because everything important is hidden in the fine print. Please read the Havelock terms and conditions before you list on Havelock. The third and fourth paragraphs are horrible as they directly bar investors and companies that reside in the US, China and Germany, from listing or trading on their platform. That is three of the four largest economies in the world. I swear I remember you said that you are from the U.S., doesn't this immediately make Havelock a non-starter?

The "No Advice", "Accuracy of Information" and "No Liability" sections are even worse, as they basically say we don't guarantee the data is true and you can't rely on it in any way shape or form. They can literally invent numbers and just throw them up on their charts and graphs without repercussion. They assume no responsibility for anything at all. Worse yet, the company is based is Panama which has some of the worst investment protection laws in the world. They could seize all your funds or disappear and you will not be able to sue them even if you could find them. Honestly, the whole ToS reads like it was designed for scamming people. If you haven't legally registered as at least an LLC, you could potentially be personally liable and guilty of fraud. Do not list your company on their platform without talking to an attorney or stock broker and knowing your own liability.

If you still decided to go the Havelock route, you need to consider at the very least adding an option where you can convert Havelock shares to direct shares like Asicminer does. For example with AM1 shares you can import/export shares between Havelock and "direct" shares. This protects buyers in the event that Havelock collapses, is fraudulant, loses popularity or regulators roll in. Sites like Havelock have zero compliance regulation to protect investors like the SEC/FINRA does for the real stock market (mandatory audits, portability, liability etc). Allowing "direct" shares is a way to make the shares portable, similar to the way that stock certificates make real stocks portable. For example, on Wall Street you can change banks without losing your shares, they just send over the stock certs from your old bank one to your new one. They protect investor from a Mt. Gox or Bear Stearns like collapse, or regulators shutting down the site.

I vote Ghash with Eligius as a backup.

Even with the increased hashpower it will be nearly impossible to ROI at this point. We can't afford be paying 2% to BTC Guild and Bitminter only has 1% of the network hashrate and a 1% fee. Ghash has zero fees and the highest hashrate. With the rise of Discus Fish, Ghash isn't a 51% attack threat anymore so there is no need to feel guilty about using it anymore. Eligius also has zero fees, a solid hashrate and pays transaction fees to miners.

Thanks for the updates. You can show my username too.

You should take a picture of the rigs with a piece of paper that has your username/date for proof. It will probably help you get some offers since almost all new accounts trying to sell things on here turn out to be scams.

And as -droid- mentioned, these are going to be a hard sell here with scrypt asics starting to ship and Titans coming in a few months. You'll probably make more on ebay.

This is not a MarketWatch article, please stop being misleading, you aren't helping your case. This is simply your press release, the only reason it is on Market Watch is because you paid for the BusinessWire PR service. You just pay them, put whatever you want in your press release and then they distribute it to their partners. Seeing as it only costs a couple hundred dollars a year for one of these services, and a mining hardware scam can rake in millions, your press release on Market Watch means nothing. The fact that you are trying to pass it off as a legit article actually hurts your case and makes you look like more of a scammer.

What happened to waffle stats? I changed pools for a while and now I am switching back but the old wafflestats link doesn't work:

http://waffles.wilschrader.com/

If you check out the link from the OP, it looks like Sebastian Ju paid KNC the 43 BTC on April 4th so I think we are good. Just waiting for them to come.

https://blockchain.info/address/1wascLN5FuQmi3XLBTQoRmmBfDEepubfK?show_adv=true

KNC increased the hashrate again, this time to 300 MH/s per Titan!

https://www.kncminer.com/products/titan

Post domain name or its scam, there is no reason whatsoever not to just post it.

The spam on here is getting out of control. For the last month I feel like its been picking up more and more.

Be careful buying into this, this screams scam!

KNC does refunds, so there is nothing stopping the OP from just canceling his order once he sells fake shares. The OP has no trust whatsoever and claims to have just spent $20k on mining hardware. The prices are also outrageous and prove that he is at least trying to be shady:

250 MH/S divided by 500 kh/s = 500 shares.
$10000 (the price of 1 Titan) / 500 = $20 or about 0.044 BTC
The OP is asking 0.17 BTC or about $76. Almost 4 times the actual cost.

Even the so called "deal" of 3 MH/S for 0.9 BTC is way overpriced.
250 mhs / 3 mhs = 83 Shares.
$10000/ 83 = $120 or about 0.267 BTC.
Again the OP is asking for almost 4 times the actual cost, not really a "deal".

The OP also contradicts himself in the post. He says in a few places that 250 MH/s is available and in others that 500 MH/s is available. If he proofreads like he manages this group buy, you are in trouble.

This is just speculation but the tone of the post is also very similar to the user minewithmind who scammed tons of people over in the group buy section. Minewithmind was also Italian, used the exact same style of punctuation and random text coloring. He also supplied the exact same style of picture for evidence.

The OP should have signed up for a preorder and paid, then given control of the account over to someone trustable like SebastianJu. SebastianJu then changes the password so that the OP can't cancel the order. SebastianJu also then opens up an escrow account for group buyers. This is what was done in Anykeywhy's very successful Titan group buy that just closed here:

https://bitcointalk.org/index.php?topic=522707.0

Also look at the price differences. It is clear that the OP here is trying to scam.

Basically don't do this group buy unless the OP comes through with actual proof beyond an easily photoshoppable picture.