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Freecash (FCH) will be launched at 00:00 on January 1, 2020

Freecash (FCH), a cryptocurrency test system based on Bitcoin Cash (BCH) and Bitcoin (BTC) technology, will be officially launched at 00:00 on January 1, 2020.
Mining pool:
The positioning of Freecash is: an experimental system to learn and explore the principles, technologies, governance and evolution models of public cryptocurrencies.
There are three main purposes for launching Freecash:

  1. 1. As a BCH learning experiment system. Its technical characteristics are similar to BCH and BTC, and it can be used by beginners and developers to experiment with new ideas in order to enter the BCH or BTC field safely and at lower cost.

  1. 2. Explore solutions to BCH governance issues. BTC's development and governance tended to be centralized around the scaling war. BCH is currently highly decentralized, but it also faces the problem of inefficient community governance. FCH focuses on exploring an effective governance model for a decentralized cryptocurrency community.

  1. 3. Explore the way of the evolution of cryptocurrencies. Public cryptocurrencies, as a new money form, need to evolve for a long time, and currently lack a mature evolution model. The scaling war of bitcoin and the birth of BCH are very costly. FCH attempts to explore a more open evolution model for public cryptocurrencies.
Freecash originates from the scaling war of bitcoin and the evolution of Bitcoin Cash (BCH). It inherits the code, the goal of peer-to-peer electronic cash, and the evolution path of free evolution. It was an extension of the cryptocurrency experiment which was carried out by Satoshi Nakamoto, the early BTC community, and the BCH community.
Freecash will conduct experiments on some hard issues BCH face, such as developer incentives, community governance models, shortening block time, and 25 consecutive unconfirmed transfer limits. These may provide BCH with successful experiences or failed lessons to help BCH mature.
Freecash has two core features:

  1. 1. Set up public governance funds. That is, a public governance fund is directly generated in coinbase, which is used to motivate developers and public governance in the community.

  1. 2. Support harmonious bifurcation evolution. Encourage forks to try different market directions under the same mining algorithm and maintain community harmony.
Freecash is suitable as an introductory experiment for beginners and as a testing ground for developers. It is not suitable for investment and speculation. Anyone who wants to learn and develop cryptocurrency and more crypto applications is welcome to participate.
submitted by changyong75 to btc [link] [comments]

Can we talk about GAW?

After the GOX disaster took so many people by surprise, I feel that it’s worth bringing forward the madness that’s happening over at GAW for those that may be considering throwing some money their way. This especially with the launch of their “hash coin” later today.
First off, I’m not some whistle blower or insider with secret information, just an enthusiast who cannot believe the amount of money people appear to be giving them despite red flags from here to forever. I know this post likely won’t do anything, but given the number of people casually trying to get into cryptocurrencies and seeing GAW as a good/accessible option it’s worth trying to bring up the discussion.
You should always be aware of anyone promising anything too good to be true. Here we have a company that has promised guaranteed returns and "profitability" more times than I can count. There is no such thing as a sure thing, especially in markets as unpredictable as crypto, and especially on the scale they talk about. Also those returns have yet to materialize for anyone but the very first buyers (interesting...).
They’ve created their own forum and aggressively policed any thread they have access to across the web to stamp out negative feedback. Their customer service by all accounts is a disaster and the only way to get a timely response is to post publically. There are many accounts that they ended up sending out whatever hardware they had lying around to people trying to buy their custom machines (war machines, etc) and then denying it.
On their forum you get money for upvotes, lose money from your account for downvotes, get bonus money from the CEO if he likes your post, and with enough downvotes you get autobanned. You can imagine what kind of a community this creates. Negative posts of any kind get you banned and the threads removed by admins immediately.
Next we have their pool system. They have their own pool (Zenpool) that always seemed to have the best payout, yet no explanation of how it is remotely possible. It doesn’t take a think tank to imagine how easy it would be to sell your propriety mining pool as a higher buy in, subsidize the difference in rates out of pocket to secure purchases and then do whatever you want with the money.
Zenpool and cloud hashing contracts are the most incredibly perfect setup for a Ponzi scheme you could ever create, and people continue to buy despite the utter lack of transparency, explanation, or established reputation that would make this seem credible. Imagine this, give me 20 dollars today and I’ll give you 1.2 cents a day (minus maintenance) instead of the 1.1 cent you would get elsewhere. Sure sounds like a cost effective way to raise a bunch of money fast.
If GAW disappeared tomorrow with everyone’s money it would in hindsight seem like the most obvious thing in the world. I am not saying that it is a Ponzi scheme, just that JESUS CHRIST does it look like one with no effort to prove itself otherwise. Even if it’s not a Ponzi scheme this sure does seem like it could be one of those Butterfly labs situations where a lot of personal stuff (e.g. private jets) gets charged to company cards until they go bankrupt.
Finally we have “Hash Coin” – there are so many things wrong with this it’s hard to summarize. You can read their QA here. But in short they’re launching an ICO that, in their words: “will go “public” for just over $20 a coin.” According to “analysts and banks”. And that “there will be a “bank” that will manage, to some degree, the valuation of Hashcoin” However of course you cannot know who these bankers or analysts are as: “The identities of both the analysts and banks will be released once the ICO has completed and the merchant marketplace established in the near future.”
And this magic coin will have a market cap of 5Billion (!!). For quick reference Bitcoin sits at roughly 4.4.
I am sure there is a debate all on its own for the ICO, but it betrays such a huge misunderstanding of some of the fundamentals of this space all it does is create more red flags for me.
Somewhere there is a whitepaper that is “done” but instead of releasing it for community review and feedback they’ve plowed ahead with some crazy bankeanalyst backed offering in which everyone – especially you – can make boatloads of money. This ICO deserves a post on it’s own, but given that it’s launching tonight there should be plenty on entertainment there for later. Again, their quote "A white paper will not answer ICO questions. That is what is more important."
In short: They’re running a system with constantly promised returns that has done anything but that. They’re running what could easily be a textbook Ponzi scheme on a huge scale with zero transparency. They’re issuing their own currency that “analysts” and “banks” have assured them will be worth giant multiples of what you will be able to buy it for, and have a market cap of 5,000,000,000 USD.
I'm all for people trying wild and crazy (and big) ideas in the space, but another GOX (Butterfly Labs, etc.) is not what we need. If GAW is a legitimate well run organization then the community should ask for more transparency and information before giving them any more money.
And finally, there’s this post. (*update, they took down the image but someone sent me a screenshot they took.)
They literally have post praising themselves for taking money from a man who has a sick family and mounting medical bills for a product that will likely never (ever) return to him what he paid for it. And the image they have chosen for this post - well, it's of the CEO and community manager in a private jet. (** update 2, I was contacted by someone who claims to own the site and says it's not affiliated with GAW. So, fair enough for a disclaimer. They are however still doing these things even if it's a repost of theirs, so point still stands.)
TL;DR Everyone gives GAW money despite the fact that they are too busy flying on private jets to answer your support emails or explain how their definitely-not-a-ponzi-scheme operation works exactly. But hey, let's all go buy some Hash Coin* which is totally better than Bitcoin! (*whitepaper pending)
(edit: formatting)
Update: "Whitepaper" draft is out for hashcoin, and it's hilarious. We're 20 days out from their ICO and they haven't released anything for the community to review or comment on, and if this is the direction they're going it's going to be quite the ride.
Update 2: It's been mentioned a number of times here, but worth noting for anyone even remotely looking at the hashlets and their "guaranteed profitability" that maintenance fees are 80% of earnings at this point. The break even point for all products is never given any kind of difficulty increase and multiple years assuming none. I cannot say I understand how GAW calculates profitability, but doesn't seem to be the way I do.
Update 3: And a couple more to underscore the point. From their own terms of service: "Hashlets are virtual service units related to mining services, but are not mining hardware." Hashlets are not real, might not have anything to do with hardware! "11. Termination and Modifications. a. Services may be terminated by us, without cause, at any time." And, GAW can simply cancel the service at any time and keep your money!
Update 4: Link to the SEC site to report suspicious activity:
Update 5: CoinFire publishes story on possible dishonesty on the part of GAW with regards to partners, gets hacked. Thread with more information here:
submitted by redflagsforever to Bitcoin [link] [comments] / Paycoin / Josh Garza has the potential to destroy or gravely set back the cryptocurrency revolution. Here is why.

Gawminers right now is initiating fraud that is beyond the scope of most bitcoin scams, maybe second only to MTGOX.
They are misrepresenting their products and fraudulently shifting hidden risks to customers. Here are my claims
  1. They are selling virtual hashes without the actual machines backing it.
  2. They falsify payouts according to pools that never existed or never received hashes from GAW.
  3. They are known and have been caught using shill accounts. Not just the company but the CEO himself. Josh Garza.
  4. They are just generally immature assholes that will ruin the fun for everyone because of their unethical character and greed.
Here are the reasons why I submit my claims based upon public evidence:
Josh Garza publicly stated that the payouts from his virtual hashing machines are from a combination of mining, day trading, and private rentals. Nothing on the product page mentions day trading and it is misrepresentation of risks by omitting such evidence.
None of the pool owners listed on the gawminers website confirmed ever receiving hashes from GAWminers. You can go email them yourself.
The most obvious reason they do not have physical mining hardware would be to read the gawminers TOS. Here:
Their Zenpool had consistently paid 2x more than other multipools during the beginning of the launch. Their fake zenpool speed counter went up to 300MHS when it was displayed publicly here: until they realized they are claiming to own more than 50% of the total litecoin network at the time. That is when the counter disappeared when people began to question the enormous scope of their fake mining operation.
The zenpool is a farce. It is fake and it just simulates ponzi payouts. Which was confirmed when the payouts predictably dropped more then 100% few weeks ago and even lower than some of the other multipools. Josh publicly stated this was because "investors" were not buying big contracts. He publicly stated this here:
realized his mistake of making such statement and deleted the whole thread.
If a pool requires investors to buy contracts for increased payouts, then you do not have a real mining pool with real mining machines.
Josh Garza used shill accounts on here: . I think he was caught publicly using shills twice. If anyone has proof, msg me and I will send you 0.25BTC.
If this ponzi scheme collapses and if his claims that he sold over 120mm of products this year are true. Then the regulatory fall out will be ugly. This is not a small scam. It is huge and will give ammunition to people like Ben Lawsky to regulate us to death as this occured with a US company on US soil. It will be another Enron or worse.
Please please please educate.
The private evidence I have is much much more condemning. But it should be obvious enough what is already out there publicly.
Also, please feel to present counter arguments.
submitted by gaw-whistleblower to Bitcoin [link] [comments]

Current network state of ZenCash

Dear Redditors,
As far what I've seen is that the community is growing together nicely and starts looking great. Unfortunately from the beginning when Mining was possible I've seen that the hashing power has been centralized (above 51%) on a single pool. This is bad for the coin and its economy for it.
You can view it on a nice chart like this one because it will make the network vulnerable for a Majority Attack. Please consider spreading your hash rates among various of different pools. ZenSystems has released an amazing Mining Pool List and there is also a community based mining pool list with some more details about the Mining Pools.
Hopefully this will make your decision easyer on decentralizing hashing power trough the Network. Also wanted to mention that I am the mining pool maintainer of BitFire. There is quite some information in the Frequent Asked Questions and the Getting Started on mining on our pool but can be applied to other pools as well.
submitted by BitFireOne to ZenSys [link] [comments]

Don't support the GAWMiner Hashlet

If you are a Litecoin supporter, I want to encourage you not to use the GAWMiner Hashlet cloud service. In reading about it, I have found that they pay their subscribers out in Bitcoin only. You do not have the option of receiving Litecoin. As a result of this, by dumping Litecoin for Bitcoin, they're part of Litecoin's problem and not its solution. Until they allow you to hold the Litecoin you mine as part of their service, I recommend staying away, for the health of Litecoin.
I also have a sneaky suspicion that their "Zenpool" service very likely accounts for that huge unidentified solo miner I've been tracking, who has single-handedly dumped around half a million Litecoin since late May. No way of confirming that, of course, but since they do not have a label in the top 10 and would most certainly have enough hashrate to show up in the top 10 pools, it seems pretty likely to me.
I'd also like to recommend avoiding pools like Clevermining that may mine Litecoin, but only pay out in Bitcoin. Coin-hopping is on the verge of being pointless now, anyway.
submitted by FreeJack2k2 to litecoin [link] [comments]

Gawminer Hahslet pros and cons.

Summary: Easy way to get into mining and being paid in Bitcoin. You can always exchange it for Dogecoin on an exchange if you wanted. Would really love payouts in Dogecoin. They should also allow you the freedom to connect to any pool you want, not just the multipools they have listed.
submitted by stlcp to dogemining [link] [comments]

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