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[The $0.08 is for their scrypt miners. For Bitcoin miners its $0.01 per 5 GH SHA-256
So that is $2/day/THS operating expense.Up front cost looks like $895/THS. This will produce roughly 1.9 BTC by Sept 2016 and then essentially flatlines at 10% difficulty increases. It goes negative on operating expense after producing 1.4 BTC. This assumes BTC makes it back to $500. At $400 it goes negative on operating cost by Feb 2015 after producing 1.3 BTC.
At BTC less than $400 - you should spend the fiat on BTC rather than buying hashlets. In fact, if GAW was confident difficulty increases do not plummet, they can buy the BTC and pay it out over the productive life of the hashing power. They will pay out less BTC than the amount purchased and get $2/day/THS from the credulous customer.
I don't see any scenario in which one of these going into production today is better than just buying the BTC. BTC needs to recover to over $500 before the analysis even becomes plausible. I don't know what they are guaranteeing, but low BTC price today means people should buy BTC rather than buy new hashing power.
I think GAW promised they would never go negative on operating costs. So lets assume BTC eventually stays at $400 during the productive live of this hashing power. That means the hashing power produces that same 1.9 BTC before flatlining. You will have paid them $290 in operating cost. Today, if you can buy BTC @ $400, you get 2.2 guaranteed and no operating cost payout. Note, if BTC price increases during the productive life, you end up paying more in operating cost.
So lets assume average difficulty increase drops all the way to 8% (unlikely, but possible), then you end up paying $360 in operating costs before GAW zeroes them out but now will produce 2.3 BTC.
So right now $400 BTC price, you have to assume difficulty increases drop below 8% just to get more BTC from the mining than from just buying BTC.
This is a great deal for GAW.
Fucking hell, why couldn't you post this earlier. I bought a 50GH/s hashlet just to test out the waters,
Why did u buy genesis instead of zen hashlets.... zen hashlets are the most profitable ones.
Just testing the waters, I will probably sell it on the hash market before I return to make a return or a small profit.
[The $0.08 is for their scrypt miners. For Bitcoin miners its $0.01 per 5 GH SHA-256
So that is $2/day/THS operating expense.Up front cost looks like $895/THS. This will produce roughly 1.9 BTC by Sept 2016 and then essentially flatlines at 10% difficulty increases. It goes negative on operating expense after producing 1.4 BTC. This assumes BTC makes it back to $500. At $400 it goes negative on operating cost by Feb 2015 after producing 1.3 BTC.
At BTC less than $400 - you should spend the fiat on BTC rather than buying hashlets. In fact, if GAW was confident difficulty increases do not plummet, they can buy the BTC and pay it out over the productive life of the hashing power. They will pay out less BTC than the amount purchased and get $2/day/THS from the credulous customer.
I don't see any scenario in which one of these going into production today is better than just buying the BTC. BTC needs to recover to over $500 before the analysis even becomes plausible. I don't know what they are guaranteeing, but low BTC price today means people should buy BTC rather than buy new hashing power.
I think GAW promised they would never go negative on operating costs. So lets assume BTC eventually stays at $400 during the productive live of this hashing power. That means the hashing power produces that same 1.9 BTC before flatlining. You will have paid them $290 in operating cost. Today, if you can buy BTC @ $400, you get 2.2 guaranteed and no operating cost payout. Note, if BTC price increases during the productive life, you end up paying more in operating cost.
So lets assume average difficulty increase drops all the way to 8% (unlikely, but possible), then you end up paying $360 in operating costs before GAW zeroes them out but now will produce 2.3 BTC.
So right now $400 BTC price, you have to assume difficulty increases drop below 8% just to get more BTC from the mining than from just buying BTC.
This is a great deal for GAW.
Fucking hell, why couldn't you post this earlier. I bought a 50GH/s hashlet just to test out the waters,
Why did u buy genesis instead of zen hashlets.... zen hashlets are the most profitable ones.
Hi All,
I just tried to use electrum today and installed the PC version.
Then I went to install the android version, and restore the wallet with the same seed as the PC version, but the address generated was different from the address on the PC version?
Is it supposed to be this way for security reasons or am I doing it wrong somehow?
Thanks.
I just tried to use electrum today and installed the PC version.
Then I went to install the android version, and restore the wallet with the same seed as the PC version, but the address generated was different from the address on the PC version?
Is it supposed to be this way for security reasons or am I doing it wrong somehow?
Thanks.
Just checked my account about the last 24 hour payout. The history showed the payout has been paid to my account but my balance is now negative BTC... They never credit the payout to my account and it's lost. Has this happened to anyone before?
Hello! I would be more than happy to have one of our Tech Agents look into your situation. Please send me an email or private chat with your order number/ticket number
Thank you!
Amber
amber@gawminers.com
Thank you very much Amber for the prompt response!
Now my balance is restored and everything is back to normal.
And I noticed that the "24h payout" button on my dashboard is now actually showing my 24h payout instead of 0.
I would speculate that GAW likely overpaid for some number of blocks for some reason (maybe orphaned blocks) and the negative amount is due to this, or maybe they previously allowed you to withdraw more then they should have.
Nope. You're getting everything wrong. First of all, hashlets are not actual miners nor they represent actual hardware. You even agree to those terms by loging in to zencloud. Given that, we know that the hashlet scheme can't be facing the same problems a regular mining pool faces. If they come up claiming that they faced a problem like the one you described, we can know for sure that it was just a cheap excuse.Maybe the forgot to adjust the pool rate for one of the hashlets?
I just dont like how Gaw keeps changing prices everyday for there products $50,25,16
I noticed that now when I am on the miners tab on zen portal the "prime hashlet" is no longer displayed there. But it's still displayed on gawminers web page. Seems strange, maybe they are planning to roll out another secret update?
I read about it before somewhere, it's just a bug. You don't really have negative balance although the api shows it. Let them know and they'll make it right.
Hope it's just a bug and nothing more. I'll wait for my today's payout and see how that goes, maybe it'll correct it by itself, who knows.
Instead of getting angry here why don't you contact GAW support and try to resolve this matter in civilised way? If you contact them I am sure they tell you what happened and will resolve your problem.
This is always the best first thing to try. I would speculate that GAW likely overpaid for some number of blocks for some reason (maybe orphaned blocks) and the negative amount is due to this, or maybe they previously allowed you to withdraw more then they should have. There are a number of logical explanations as to what happened, the correct one of which can be best given by their customer service/support team
Maybe it's the case, but they should at least show the record of deduction and reasons from the balance history so that I am aware of what's happening.
I've issued a ticket and now I'm waiting for their reply. will keep this post updated.
Re: GAW ZenCloud ZenPool Hashlet - does it really exist? ALWAYS MAKE MONEY :-)
Not sure it's just my account or if anyone else has experienced this problem.
I logged in my account this morning and found out that the account balance became negative, so out of curiosity I went to check my balance history and noticed that the payout for the last 24 hours has actually been paid. But if it's been paid, but apparently the value was not added into my account balance and the payout was lost somewhere.
Did this happen to any of you guys?
I logged in my account this morning and found out that the account balance became negative, so out of curiosity I went to check my balance history and noticed that the payout for the last 24 hours has actually been paid. But if it's been paid, but apparently the value was not added into my account balance and the payout was lost somewhere.
Did this happen to any of you guys?
[Solved] I hate to say this, but I think I'm f**ked by gawminer
Just checked my account about the last 24 hour payout. The history showed the payout has been paid to my account but my balance is now negative BTC... They never credit the payout to my account and it's lost. Has this happened to anyone before?
We're easily breaking 350 today. Only a few cultists are buying a couple of satoshis. The rest of the Bitcoin world is selling BTC in massive quantities.
So who is buying all the sold BTC? Makes me wonder.Re: I have just pulled out my 1.5 btc from bitstamp and invested in the zenminers
With the exchange price plummeting recently, I don't expect the exchange rate to go up anytime soon. So I have decided to pull out my 1.5 btc and buy some of the zenminers to generate at least a positive flow of btc.
The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
Well, if I calculated correctly, with my 1.5 btc investment in zenminers, i can get a return of 0.015BTC/day, which means the investment is as good as holding the btc while the current btc price doubles in about 3 months The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
Am I correct?
KNC Titans are coming out this week.....by zen miner I assume you mean a machine not cloud hashing etc....you'd be better off buying coin imho
just trying to warn you as a 10.3k 300mh (no refund no compensation) KNC Titan unit coming this week or next
oh well its a toy to play with alts ....but ROI no way...and they have a lot of this hitting the skids equip wise imho
just saying good luck
Thanks for the info, I am still new into cryptocurrency mining thing. By zen miner I do mean the cloud mining hashlests that they sell, and I don't quite understand how mining in alts can get me btc as well. The 1.5 btc in bitstamp will be sitting there uselessly if the price of btc continues to drop so I figured why not generate some btc by mining with the 1.5 btc that I have. Further more on their website I can also sell the hashlets at about 80% of the buy price so I could still pull out my btc after I make 20% of ROI without making a loss.
Hope I was right about it.
well I know a guy that is selling now..but he bought at the 16 usd price he told me the price now is 39 usd...so i'd be wary...again prob better off just holding the 1.5 btc imho...BTC will either go back over 500 someday or the whole thing was unicorns/beanie babies and fairy dust imho...
anyway good luck ...all newbies get a miner first imho guess it goes for the same with cloud hashing stuff....(funny how you can plunk down 7.5k for a knc 550gh last fall but the thought of 7.5k at 450 usd on www.coinbase.com for coin and now you pucker up in unpleasant places...go figure
me I'm holding even if it goes to $1 usd (more btc for me!..damn I'm one sick puppy).....balls to the wall
Yes, I do agree that investing in hardware mining is a losing game now compared to last fall (i guess you'd make few hundred coins by now if you bought the 550gh knc last fall). And everybody is now saying "buy coins directly rather than mining", however I will not buy any coins until I am sure the price is at it's true bottom ($1 would be quite impossible I'd say, but perhaps in the range of 200~300 maybe?)
Re: I have just pulled out my 1.5 btc from bitstamp and invested in the zenminers
With the exchange price plummeting recently, I don't expect the exchange rate to go up anytime soon. So I have decided to pull out my 1.5 btc and buy some of the zenminers to generate at least a positive flow of btc.
The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
Well, if I calculated correctly, with my 1.5 btc investment in zenminers, i can get a return of 0.015BTC/day, which means the investment is as good as holding the btc while the current btc price doubles in about 3 months The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
Am I correct?
KNC Titans are coming out this week.....by zen miner I assume you mean a machine not cloud hashing etc....you'd be better off buying coin imho
just trying to warn you as a 10.3k 300mh (no refund no compensation) KNC Titan unit coming this week or next
oh well its a toy to play with alts ....but ROI no way...and they have a lot of this hitting the skids equip wise imho
just saying good luck
Thanks for the info, I am still new into cryptocurrency mining thing. By zen miner I do mean the cloud mining hashlests that they sell, and I don't quite understand how mining in alts can get me btc as well. The 1.5 btc in bitstamp will be sitting there uselessly if the price of btc continues to drop so I figured why not generate some btc by mining with the 1.5 btc that I have. Further more on their website I can also sell the hashlets at about 80% of the buy price so I could still pull out my btc after I make 20% of ROI without making a loss.
Hope I was right about it.
Re: I have just pulled out my 1.5 btc from bitstamp and invested in the zenminers
With the exchange price plummeting recently, I don't expect the exchange rate to go up anytime soon. So I have decided to pull out my 1.5 btc and buy some of the zenminers to generate at least a positive flow of btc.
The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
Well, if I calculated correctly, with my 1.5 btc investment in zenminers, i can get a return of 0.015BTC/day, which means the investment is as good as holding the btc while the current btc price doubles in about 3 months The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
Am I correct?
Re: I have just pulled out my 1.5 btc from bitstamp and invested in the zenminers
With the exchange price plummeting recently, I don't expect the exchange rate to go up anytime soon. So I have decided to pull out my 1.5 btc and buy some of the zenminers to generate at least a positive flow of btc.
The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
With BTC dropping, you should buy S3 instead which is fixed at 0.58 BTC. But its sold out
At 0.21 cent/kwh of electricity, I'd guess that even with zero capital on the mining rig I would still run a negative ROI with the power cost, not to mention that the btc price drops even lower.
Actually, at 0.21 cent/kwh, nothing is profitable
...Oh god, it's not 0.21 cent/kwh, should be 21 cents/kwh
Re: I have just pulled out my 1.5 btc from bitstamp and invested in the zenminers
With the exchange price plummeting recently, I don't expect the exchange rate to go up anytime soon. So I have decided to pull out my 1.5 btc and buy some of the zenminers to generate at least a positive flow of btc.
The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
With BTC dropping, you should buy S3 instead which is fixed at 0.58 BTC. But its sold out
At 0.21 cent/kwh of electricity, I'd guess that even with zero capital on the mining rig I would still run a negative ROI with the power cost, not to mention that the btc price drops even lower.
I have just pulled out my 1.5 btc from bitstamp and invested in the zenminers
With the exchange price plummeting recently, I don't expect the exchange rate to go up anytime soon. So I have decided to pull out my 1.5 btc and buy some of the zenminers to generate at least a positive flow of btc.
The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
The bad news is the price for the miners is not flat rate in btc but still in exchange of usd value at current exchange rate. However it's still worth trying rather than holding the btc and hoping it will rise.
What do you guys think? Is it a good move or a bad one?
Thanks.
Re: Why would you start to accept bitcoin payments as a business owner?
Imagine you are the boss of some kind of business that deals with physical objects everyday and why would you start to accept bitcoin payments?
What are you going to do with all that bitcoins that you've earned? Hold it? seriously?
What are you going to do with all that bitcoins that you've earned? Hold it? seriously?
sounds like your not a business owner, so your opinion on your imagination.. is just fail.
i am a business owner, i accept bitcoin and i hold them
dell is a business, they accept bitcoin and they hold them
newegg is a business, they accept bitcoin and they hold them
overstock is a business, they accept bitcoin and they hold them
virgin galactic is a business, they accept bitcoin and they hold them
no imagination needed
Yes it's true for all the companies you have listed, to hold them is basically an investment into bitcoin in exchange of their services or products. However for a small start up business which needs the initial cash flow in order to make the business a success I wouldn't imagine to convert all my capitals into bitcoin and hold it, I might as well just throw in all the money into an exchange and get the bitcoin if I want.