Virtual Currencies, Mining, and Hashlets

[FlyingMongoose]

So a friend of mine who's been leery about bitcoin and virtual currencies recently told me of a documentary he recently watched (I believe it's on netflix) called "The Rise, and Rise of Bitcoin". This has apparently opened his eyes to the major benefits of virtual currency. I've had numerous conversations on the topic with him over the last six months or so, and this was the first time he had a significantly more informed discussion (not to say he wasn't informed before, but not on both sides).

I figure pointing it out to other people is a worthwhile endeavor. Some people were lucky enough to get into bitcoin early on (before last year) and managed to make bank. Personally I'm a little behind, but I've been investing in cloud hosted mining solutions called Hashlets myself. These are something that were developed by GAW Miners, and ZenMiner (now owned by GAW), they currently operate what is called the ZenCloud, but will soon be moving it to what is called HashBase (don't know much more info on that but they claim the update is this month).

Right now I have a total of about 9 Megahash (MH) total Scrypt (this is the algorithm Litecoin uses) power, and about 18 Gigahash (GH) of SHA-256 power (this is the algorithm Bitcoin uses). ZenMiner cloud is a bit limited in the fact that you can only use the pools in which they select, but they do have profitability charts of those pools that allows you to switch out the pool your hashlets are using on a regular basis (if you have a Hashlet Prime, or a Hashlet Genesis)

Hashlets are an interesting beast in the crypto world. They are a new product as well. Details are as follows
Hashlet Primes - Allow you to select different Scrypt pools, and (soon) will be able to run on SHA-256 as well.
Solo Hashlets - These are pool-specific Scrypt hashlets, because they are isolated to a specific pool these are typically cheaper.
Hashlet Genesis - These are SHA-256 only Hashlets


So, I actually have a referral link http://r.sloyalty.com/r/tSfcEdTR6ZH4 it'll get you $10 off of $200 or more on an order, plus it earns me some points, but if you don't want to do that for me you can of course just go straight to the GAW Miner's site. http://www.gawminers.com/ for hashlet details go ahead and click on "Hashlets"

To let you know, based on current bitcoin price (about $380-$390), I'm earning anywhere from $1.80-$1.90/day

Take into consideration this: Once within the cloud mining platform you will also have access to the Hash Market that allows you to buy and sell hashlets. For example, the Hashlet Genesis is $7.95 on regular stores, it is $6.30-$7.50 in the Hash Market. This means, at $1.80/day (my minimum) it can take me up to 4.15 days to add another 10 GH to increase my hash power, and thus increase earnings. There's also an auto-buy feature (but that does not buy from the hash market, it buys from GAW).

My goals is to make it so that I eventually have enough hash power to buy any of the solo miners I want on a daily basis (about $18/day). Creating a possibility for major gains over time. My current estimates take me to about 4 months time.

Note that the hashlet cloud hosting platform is a daily charge, for a Scrypt (solo or prime) miner it's $0.08/mh/day, and for a SHA-256 (Genesis) it's $0.01/5gh/day. This ultimately gets charged out of the earnings your miner actually makes automatically. It helps support the hashlet platform. I've never seen any of my payment methods charged for this hosting.

Also, many people in the crypto world don't deliver, and you should always be wary, many many many people are scam artists. So far, it looks like GAW is delivering on everything they have promised and have been quite transparent even in a recent situation in which some people exploited the hash ordering system creating duplicates and false hashlets and selling them on the hash market (driving the cost down artificially while people tried to bank out). GAW has actually discovered just about all of these people, and had those who were duped into buying the duplicates come forward. And they are notifying authorities AND pressing charges on the people who did the duplication.

Also note, buying and selling crypto is also a risky game and can move even faster than the stock market, so if you decide to go that route, be VERY careful. I only trade on Bittrex as of late.

Of course, in the mining world hashlets are not the only option, GAW also offers hardware miners, as do other manufacturers. They discontinued their Fury line (unfortunately), but I know HeK got at least one or two of them (which actually supplemented some of his scrypt GPU machines so he can now point those to X11 (another algorithm.) I actually allowed my Fury to be converted to a Hashlet Prime so far I've been happy with the decision.

The real question many people my ask is, can you earn money doing this? Well, I've already stated I'm at about $1.80-$1.90/day. Of course if BTC drops that number drops, but being patient with it is a worthwhile endeavor, and as long as I continue to have my miners, I can continue to earn. Wouldn't it be nice if one of us could end up with enough hashlet mining power to completely supplement annual income?

[VirgilMi]

Давно искал ваш Форум)

[FlyingMongoose]

Давно искал ваш Форум)

I never knew how much the russians "like your forums"...

[FlyingMongoose]

So, apparently they have a new promotion going on.

(Please use referral link? But you don't have to) http://r.sloyalty.com/r/tSfcEdTR6ZH4.

Anyone who signs up for a ZenCloud account gets a free miner (10 gigahash sha-256 I believe). This honestly won't earn much but nothing wrong with getting and sitting right?

Anyway, direct link to page here
http://www.gawminers.com/pages/zencloud-account

Sent from my SCH-I545 using Tapatalk

[FlyingMongoose]

They've given us referral links:
https://cloud.zenminer.com/signup/invite...ce2975c2e9