Quote from: kingcolex on November 26, 2014, 05:03:01 PM

Quote from: galdur on November 26, 2014, 05:01:55 PM

Quote from: kingcolex on November 26, 2014, 04:58:49 PM

Quote from: EQXhatter on November 26, 2014, 04:48:42 PM

Quote from: Stargazer on November 26, 2014, 04:10:33 PM

What is your opinion on mining contracts? Do they exist or not?

I am not sure what you think - the mining contracts between gaw and the people gaw rent them their power? Or the mining contracts as GAW and hashlet customer?
The second - defenitly there exist a contract between customer and GAW, the question is what is the object of that contract. GAW looks like they are selling you actual in the hashlet named and pool pointed mining power, but I think it is more a loan to GAW so they can buy minning hardware and they repay you in the numbers of your chosen pool. I highly doubt, that you buy real 1 MH Scrypt of mining power with hashlets. But I think they use the money to buy the minning hw, which they use to mine coins they find most profitable. I believe, that he difference between customers payout (payout-fees) and the brutto payout GAW mined is huge, so they are making shitload of coins.

Quote from: Phildo on November 26, 2014, 04:15:13 PM

If that is true, why aren't they showing us the hashpower? the entire point of bitcoin is that everything is recorded on a public ledger. If they are mining coins, there is a public record of it, and them showing it would end all of the speculation. Show us the freshly mined coins.

There have been lots of scams in bitcoin, all of them could have been avoided if people asked for proof of what was happening. No one should believe someone is mining without seeing the proof on the blockchain. If you don't believe GAW is mining why are you paying them to mine for you?

Joe said, he will show in next Q&A stream their datacentre. Dunno if that is enough proof. I actually take their announcements with reserve, they are using so much superlatives, that if it were true, then everyone, who invested in them will become millionare.

I dont want to advocate them, but if they will show the trace to their minning power I see all the multi users (who are in red numbers (read one satoshi payouts) being realy upset about seeing their money bought minning hw used to mine coins they don´t have profit from.

I wont ever invest an amount I am not willing to loose, I just want to discuss and try to find answer or more doubts so I can decide if to or not to escape before GAW falls apart.

Sorry for my english I am trying to make my statments clear as possible, but there might be some confusion in what I am trying to say.

Multi users bought hashlets based off multi payout, which has been crap for a while and with the standard .08$ maintenance fee and increasing difficulty of Scrypt it was obvious they wouldn't be viable now. Until they get new equipment and have a more efficient miner (or decide to lower it out of pitty) there multis will be worth crap, but why wouldn't they be? There are less hardware producers for scrypt and anyone who is producing seems to be mining on it (looking at the difficulty) I think scrypt is a bad road to invest in at all.

There are countless shitcoins and more coming every day.

Surely there must be lots that are very profitable to mine
and dump.

This is true, but multipool and other multi sites aren't jumping on these and pumping and dumping with the group that does it.

But the haslets payout are just based on that pools, they are not actualy minng there. So there is this - if the haslet become due to low payments obsolete for customers, then gaw can use that power for mining anything else, but the customer earns nothing, beacuse their on pool based payment is 1 satoshi, eventhough their power earns coins from being pointed elsewhere.

EQXhatter

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