kcheel



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Full MemberActivity: 127Merit: 100 Re: PROOF that GAWMiners Hashlet Is Not A Miner September 02, 2014, 02:02:27 AM #9 Quote from: TheCoinFinder on September 02, 2014, 12:46:33 AM



As they put it it does not mine on any pool.









That is not what it says. It says it does not mean its mining on the pool you have selected. Imagine you are GAW and there is a pool that is paying better than the one your customer had selected. As a business seeking profit, it would make more sense to put that hashpower to the most profitable use and pay the customer what they would have received on their chosen pool and then keep the difference for the company. There are several other ways to slightly improve profitability over what the pools regularly pay and I believe that is what GAW is doing. But this is just my opinion, time will tell. Honestly, as long as they ROI and are still paying out something decent when they do, I don't care if they are mining fairy dust. That is not what it says. It says it does not mean its mining on the pool you have selected. Imagine you are GAW and there is a pool that is paying better than the one your customer had selected. As a business seeking profit, it would make more sense to put that hashpower to the most profitable use and pay the customer what they would have received on their chosen pool and then keep the difference for the company. There are several other ways to slightly improve profitability over what the pools regularly pay and I believe that is what GAW is doing. But this is just my opinion, time will tell. Honestly, as long as they ROI and are still paying out something decent when they do, I don't care if they are mining fairy dust.

philipma1957



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LegendaryActivity: 2786Merit: 2634 Re: PROOF that GAWMiners Hashlet Is Not A Miner September 02, 2014, 02:11:36 AM #12 Quote from: TheCoinFinder on September 02, 2014, 12:46:33 AM



The terms and conditions, contain the following pieces of information.



Quote If you are purchasing, or have purchased, Hashlets, you understand and agree that Hashlets are not physical devices and cannot be shipped.

So firstly, they are not Physical devices. Maybe then they are virtual.. software inside some super system?



Quote Hashlets earnings depend on the pool chosen and Payouts reflect respective Pool Payouts. Selecting a Pool does not imply physically or electronically mining at the selected Pool. Rather, selecting a Pool determines a Payout corresponding to a calculation based on the selected Pools payout (based on, for example, real-time Megahash/second/day calculations). A Hashlet is virtual software. You will receive Payouts according to the Pool with with the Hashlet is associated

Their definition here of "virtual software" remember is not hardware - and not even electronic.



As they put it it does not mine on any pool.



But this is the clincher:



Quote You expressly understand the the Companys sole obligation to You is to Provide a Payout based on the Pool you choose.

So long as they provide a payout that is equivalent to the payout you would have received from the pool you select - they are keeping their agreements to you.



Hashlets are not miners



The proof is in their own Terms and Conditions.



Is it not?

Copied from https://zenminer.com/cloud/terms.html archived at https://archive.today/b0e7e The terms and conditions, contain the following pieces of information.So firstly, they are not Physical devices. Maybe then they are virtual.. software inside some super system?Their definition here of "virtual software" remember is not hardware - and not even electronic.As they put itBut this is the clincher:So long as they provide a payout that is equivalent to the payout you would have received from the pool you select - they are keeping their agreements to you.The proof is in their own Terms and Conditions.Is it not?

If I have a 1000mh machine and split it into 1000 1 mh hashlets I could fit the terms they describe . So while your guess may be true mine may be true.



As I type I invested 1800 usd in zen-gaw cloud. I have made full and complete return of the 1800 usd. I have about .23xxx btc in coin profit.

I have 6.2mh in 'hashlets' and I have an antminer s-3 hosted with them. I like you fear scams-ponzi's and or pyramids. So I sold off almost all my hashlets. 64 of 70 . I kept 6.2 hashlets in case gaw-zen is great and I am wrong. I also kept the antminer s-3 hosted by them since it was a cc purchase and i have 60 days cc protection If I have a 1000mh machine and split it into 1000 1 mh hashlets I could fit the terms they describe . So while your guess may be true mine may be true.As I type I invested 1800 usd in zen-gaw cloud. I have made full and complete return of the 1800 usd. I have about .23xxx btc in coin profit.I have 6.2mh in 'hashlets' and I have an antminer s-3 hosted with them. I like you fear scams-ponzi's and or pyramids. So I sold off almost all my hashlets. 64 of 70 . I kept 6.2 hashlets in case gaw-zen is great and I am wrong. I also kept the antminer s-3 hosted by them since it was a cc purchase and i have 60 days cc protection I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.

elrugrim



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Sr. MemberActivity: 686Merit: 251 Re: PROOF that GAWMiners Hashlet Is Not A Miner September 02, 2014, 02:16:05 AM #13



The physical devices and cannot ship serves to make clear the difference between this- and other hosted miners that they sell and have sold. Where you buy for instance a warmachine with free hosting for x months, and then you can pay to have them host it, or to mail it to you. For a cloud mining service, they are selling units broken up into artifical sub units (IE. Mhash size sales of mining power) instead of a machine.



For the pool thing.. Gaw has said on its own forums that all of its units are basically mining their zenpool, because it is getting higher payouts (to an extent, that is possible, when you control the latency, etc by having everything at one location, blah blah ((Not enough to really explain the difference in payouts, but that is a different topic all together))) So regardless, if you buy a hash of their mining pool tied hashes, they are still mining their zenpool, paying you out the average for the pool hash you bought, and pocketing the difference. That's also why you see various price points based out on the profitability levels of the pools as they did their pricing, methinks.



As for the clincher-

Quote You expressly understand the the Companys sole obligation to You is to Provide a Payout based on the Pool you choose.

See answer two, and gods above, I want that to be any cloud mining's sole obligation, to provide payouts.

Not a Gaw fanboy, but will offer a rebuttle of sortsThe physical devices and cannot ship serves to make clear the difference between this- and other hosted miners that they sell and have sold. Where you buy for instance a warmachine with free hosting for x months, and then you can pay to have them host it, or to mail it to you. For a cloud mining service, they are selling units broken up into artifical sub units (IE. Mhash size sales of mining power) instead of a machine.For the pool thing.. Gaw has said on its own forums that all of its units are basically mining their zenpool, because it is getting higher payouts (to an extent, that is possible, when you control the latency, etc by having everything at one location, blah blah ((Not enough to really explain the difference in payouts, but that is a different topic all together))) So regardless, if you buy a hash of their mining pool tied hashes, they are still mining their zenpool, paying you out the average for the pool hash you bought, and pocketing the difference. That's also why you see various price points based out on the profitability levels of the pools as they did their pricing, methinks.As for the clincher-See answer two, and gods above, I want that to be any cloud mining's sole obligation, to provide payouts.

elrugrim



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Sr. MemberActivity: 686Merit: 251 Re: PROOF that GAWMiners Hashlet Is Not A Miner September 02, 2014, 02:31:10 AM #16 That's fine, just sharing info from their forums, before they went and made them a trainwreck. Not heavily invested in them, only running 10 mhash or so.. and like the poster above, who has dumped, I am considering it, since I bought in at 16, and on their forums, people are buying for 30 now. Between that and the mining time, a 100% ROI does sound tempting