It’s not too late to get invested with GAW Miners. While GAW has announced the next phase of their PayCoin launch, we have until 12/20/14 (give or take a couple of days) to get in on the ground floor. This means mining HashPoints, which will be automatically converted at a 400:1 ratio to PayCoins. Simultaneously with this conversion, PayCoin will end its Proof of Work (POW) phase and become an entirely Proof of Stake (POS) coin.
As it pertains to an investor; POS works by locking up (staking) your coins for a specific period of time. This creates stability for the coin markets, and in return pays an interest rate on the staked coins. The ability to stake coins will be included with some of the Hashlets by way of conversion. Today we will be walking through the process of buying Hashlets that will be converted later to stake our coins for us.
Hashlet Primes are guaranteed to convert, and we have two choices depending on the length of time we are looking to invest for. Zen Hashlets will get second priority for conversion, but their current cost/benefit ratio makes them a strong contender for purchase. All other Hashlets get third priority for conversion and will more likely not convert at all. Right now the only viable investment options are Primes and Zens.
I believe the optimal ratio for investment at this time is 75% of our money going to purchase Hashlet Primes, and the other 25% to purchase Zen Hashlets. The Primes offer the best long term (1 year or more) potential, while the Zens will make the most of the short time we have to accrue HashPoints.
1. Sign up for an account with GAW Miners Zen Cloud
If you’re unfamiliar with the interface, there is an instructional walkthrough you may follow. Upon completion of the walkthrough, you will receive a free 10 GH/s Bitcoin miner.
2. If you would like to purchase Hashlets using a credit card or PayPal, you can do so at GAW Miners main website. Bear in mind that Prime Hashlets cannot be purchased with a credit card! If you are purchasing with a credit card, you should only buy Zen Hashlets, nothing else. I would also highly recommend setting up a coinbase.com or similar account to purchase Bitcoin (and therefore Primes) as soon as possible.
3. If you would like to purchase Hashlets using Bitcoin, you can deposit directly into your Zen Cloud account using the “Fund Account” button at the top right of your screen. Clicking here will reveal your personal Bitcoin wallet address. Once your deposit has confirmed you will see your balance shows both the BTC and a current USD exchange rate.
4. To purchase Hashlet Primes with Bitcoin, click on the Hash Market on the left panel. Find the Filter Hashlets menu on the right and select “Hashlet Prime”
5. Spend 75% of your money on Hashlet Primes
6. Now filter by “Zen Hashlet” and spend the rest of your hard earned money on those
7. From the left panel, click over to “Miners”. Now we will set the miners to mine HashPoints
8. For the Zen Hashlets (green ones) click the gear in the bottom left corner of each Hashlet and click “Mine HashPoint Pool”. You will see the red circle H appear in the bottom right of each Hashlet.
9. For the Primes (gray ones) look to the right hand side of the screen for the “Payouts” section. Find the red H with a circle around it. Click and drag that H onto the Primes, and you will see the red circle H appear in the bottom left corner.
10. Primes have the ability to “Double Dip” which is the blue + on the left side. It’s a bonus payout that you can only click once every 24 hours. Click it, select “Hash Point Pool” from the drop down menu (yes, same pool again). Repeat every 24 hours
11. Sometime on Friday 12/5/14, Primes will be able to reserve a spot in line to convert to Prime HashStakers. The conversion will not occur until on or around the 20th, and until then the Prime will continue to mine HashPoints uninterrupted.
12. If there are remaining upgrade slots after 48 hours, the ability to reserve a slot will pass on to the Zen Hashlets. The same process will pertain to Zens, reserve your place in line to convert, and continue mining HashPoints until that happens.