Tuesday, October 14, 2014

GAW Post-Vegas Wrap-Up: HashPoints, Multi Hashlet, Vegas Legendary, etc.

This is an addendum to yesterday's post, as I apparently missed this note from GAW. It seems to suggest that some of the "missing" items I listed yesterday are actually implemented, but I'm not sure how everything works. I'll be investigating a bit more, but here's the short scoop:
  1. HashPoints are now worth $0.01 each (and existing HashPoints were converted based on that rate, so if you had 15,000 HashPoints worth 100 Satoshi each, you received around 600 of the "new" HashPoints in exchange). I can confirm this happened, as I'm now the proud owner of 705 HashPoints in place of the 17K+ I previously had. This also means upvotes in the Hashtalk community are worth $0.01 (and downvotes also cost you $0.01), so if you're super helpful over there you could potentially make... pennies per day! Or if you're like me you might lose $0.04 per day. My advice is to go upvote everyone you can. Hahaha.... And then watch as the ability to upvote gets taken away or at least limited, unless you're a mod.
  2. In order to keep Multi Hashlet profitable, GAW is increasing the payouts "temporarily". They are guaranteeing a minimum $0.01 per MH payout, so obviously this isn't going to suddenly make ROI a done deal but at least if they do the same thing on all Hashlets you will eventually break even. At $0.01 per day, it will take 1495 days to hit ROI on Multi Hashlet, so worst-case GAW needs to stay in business for four years for you to hit ROI. That also means you're looking at "guaranteed" returns of at least 20% (give or take) per year.
  3. GAW is working on a permanent solution to the Multi Hashlet problem, and I suspect there's a real chance Multi Hashlet could be converted into a different Hashlet at some point. If you're interested in taking a chance on that, it's possible GAW will just convert them into Zen Hashlets (e.g. the most profitable Hashlet Solo), so you could potentially buy Multi Hashlet at $14.95 and see if it gets upgraded to something worth $19.95, but there's no telling exactly what will happen until it actually happens.
  4. Just to be clear, the "always profitable" mantra applies to all Hashlets, so I'd assume the Zen, Waffle, and Clever Hashlets now have the same "earn at least $0.01 per MH per day" policy in effect. Which means GAW is essentially drawing a line in the sand at 0.0002 BTC per day per MH on Hashlets, at least with the current price of $400 for Bitcoins and $0.08 per MH maintenance.
  5. Hashlet Genesis can now be sold on the Hash Market. It wasn't there last night when I looked, but there are now a bunch listed for sale. The lowest price is currently $0.54 per GH for up to 900GH, where Genesis normally costs $0.895 per GH; there are also a bunch more at less than $0.70 per GH. Bottom line is that at the current rates you can earn about 3.7 cents per day in profit for every 10GH of Genesis, or 0.37 cents per GH. That's 146 days to hit ROI at the lowest price of 54 cents per GH, which at least partially explains why Genesis owners are apparently leaving in droves. Oh, and unlike the Zen Pool, the payout rates for the SHA256 pools are pretty much directly correlating with BTC difficulty, so your payouts drop every two weeks on a consistent basis.
  6. Primes are supposed to be able to mine SHA256 now, at a rate of 40GH per 1MH. I'd assume the Amps are also available, which means you can do about 0.0009 BTC per day mining Scrypt coins, or you can switch to SHA256 and mine at a rate of 0.0008622 BTC per day. I don't know how you actually switch (I tried dragging a SHA256 pool onto my Prime and got a "wrong pool type" message, but I'm also currently Double Dipping so that may explain things), but given Scrypt is still more profitable there's not a huge incentive to switch. If this had happened a month ago when BTC difficulty was quite a bit lower, we'd be looking at a very different situation.
  7. Finally, the Vegas Legendary Hashlet was apparently launched, but only 100 were made available. If you thought Remember Hashlets at a price of $90-$100 was rough, well, I suspect Vegas Hashlets will be priced substantially higher. And yes, they do indeed have the same features as Primes. "Gotta catch 'em all!"
I think that's about it for the post-Vegas announcements. The most exciting thing is the talk of Hashlet Primes being allowed on the open market (finally), but we've been hearing about that for more than a month so I'm not holding my breath. Maybe in another two or four weeks that will finally happen, and of course there's still HashBase to look forward to. It's a nice little trail of breadcrumbs from GAW.

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