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Title: Paycoin XPY promises $20 a coin? Post by: Sumo on January 12, 2015, 06:52:15 AM http://blog.paybase.com/paybase-honors-20-paycoin/
http://cointelegraph.com/news/113276/gaws-josh-garza-to-address-paycoin-controversy-at-tnabc-in-miami TO DA MOON ALICE!!! https://i.imgur.com/s1bdqLs.jpg The Official PayBase Blog Monday 12 Jan 2015 PayBase Honors $20 Paycoin™ Prologue The launch of Paycoin™ represents a number of factors, starting with our belief (based on our own internal analysis and mathematical modeling), that this coin would command a market value of at least $20. Our statements at the time confirm this sentiment: Our optimism was, again, not the result of blind faith or excess pride; our confidence was the product of extensive research, the assembly of a talented team of professionals and a lot of hard work – the investment on our part was, and remains, steadfast. Still, we recognize that some of our initial comments were not as well defined as they should have been. We accept responsibility for our actions, and we have an obligation to our own standards of excellence to correct this situation. Our solution is, thus, twofold. One, effective immediately, our public statements will be in alignment with our business strategies. And secondly, we have a Paycoin™ Honor Program (more about below), which we believe is thorough and fair. And, while the price of Paycoin™ currently ranges (as of this writing) from a high of $5.00 to a low of $2.50, the Paycoin™ Honor Program is a voluntary – and transparent – effort on our part, executed in good faith and in accordance with our core principles, to do right. Please note: PayBase™ does not – and cannot – control the price of Paycoin™. Like any other coin, demand by the marketplace determines the price of Paycoin™. Nonetheless, Paycoin™ is in the single digits. We recognize that some individuals believe PayBase™ guaranteed that the minimum price of Paycoin™ would be $20. Paycoin™ Honor Program In an effort to update supporters of PayBase™ and users of Paycoin™ with the most comprehensive and relevant information about our activities, we have a Paycoin™ Honor Program. This initiative, which will have a $20 purchase price, is our plan to ensure every coin-holder receives the $20 purchase price for their Paycoin™. Specifically, that valuation reflects both our pre-IPO assertion about the pricing for Paycoin™, in addition to an earlier statement (the origins of which we explained in a previous post), that "We would buy 'them' [Paycoin™] for $20." This Paycoin™ Honor Program, for which this post contains an overview of the principal, points (see below) regarding this soon-to-debut proposal, will follow a detailed and timely structure. The Paycoin™ Honor Program is the ultimate proof of our commitment to honoring the spirit and letter of our statement about the $20 floor. It is also a step-by-step process that will be independent, secure and consistent (in terms of monthly disbursements), so participants will have full confidence in the transparency and oversight governing The Paycoin™ Honor Program. And, in further reference to the $20 assigned value, we would like to reiterate the reasoning behind this figure. The pricing is the result of complex mathematical modeling and real-world variables. Meaning: Calculations about expanding market capitalization, and the creation of mechanisms to ensure the market did not grow faster than the rate of adoption among users, revealed a growth rate consistent to sustain the $20 price. Though the marketplace controls the price of any coin, and because of our pledge to users of Paycoin™ about the $20 figure, The Paycoin™ Honor Program reconciles any price discrepancies; it restores the $20 valuation. Protocol Involving Past Statements and Comments We also want to reaffirm our own duty to lead, with professionalism and candor. If our earlier statements were not sufficiently clear – if we were inexact in what we said and how we said it – we accept responsibility for our remarks. To that end, we have an exhaustive protocol about all future on-the-record remarks. In our words, and through our deeds, we will be firm and firmly unambiguous. Paycoin™ Honor Program Summary PayBase will offer a Repurchase Agreement to the general public for 30 days, which will establish a contractual arrangement between PayBase™ and any Paycoin™ holder (Seller), whereby the Seller agrees to sell Paycoin™ to PayBase™ at $20.00 USD per Paycoin™. The Paycoin™ Honor Program will involve these main features: •30-day Signup: Coin-Holders will have 30 days to enroll in The Paycoin™ Honor Program. This period will start on February 1st and end on March 2nd. •Account Verification: All participants will undergo an account verification process. •Paycoin™ Will Be in a Secure Third-Party Vault: As part of The Paycoin™ Honor Program, we will have an exclusive – and secure – vault to house Paycoin™. In the interest of transparency, a separate entity unaffiliated with either PayBase™ and/or GAW will manage this vault. •Third-Party Authentication: Transactions performed or released through this vault will be authenticated by an independent third-party manager. •$20 USD Payment in Bitcoin at the USD Rate of Exchange, Upon Commencement of The Paycoin™ Honor Program: Repurchases of Paycoin™ will yield a payment of $20 USD, in Bitcoin, at the USD rate of exchange for each monthly disbursement during The Paycoin™ Honor Program. •Monthly Repurchase Disbursements: A minimum of $100,000 in payments from the Company to Sellers will be made on the first of each month, until each repurchased Paycoin™ has been redeemed and each Seller has been paid for Paycoin™ he or she has sold. We reserve the right to increase these payments, to make all disbursements as quickly as possible. Pending the finalization of additional steps involving The Paycoin™ Honor Program, we will announce this news in an expeditious and thorough manner. We seek to provide users of Paycoin™ with the information they expect and deserve to receive about this coin. To reiterate: *None of our plans have changed. * We will perform the enclosed action items: •Re-establish the $20 value of Paycoin™ through this initiative. •Merchant integrations will follow suit, as originally planned. •Finally, we will deliver the enhanced features we know many of our supporters look forward to using. We want to thank our diverse community of users for their commitment on behalf of the sustained success of Paycoin™. Title: Re: Paycoin XPY promises $20 a coin? Post by: Melbustus on January 12, 2015, 07:03:23 AM Quote from: 'The Official ScamBase Blog' A minimum of $100,000 in payments from the Company to Sellers will be made on the first of each month, until each repurchased Paycoin™ has been redeemed and each Seller has been paid for Paycoin™ he or she has sold. So, at $20/PayCoin, they'd need to honor $240,000,000 worth of coin. Given that they're promising to do $100,000 worth of this per month, it'll only take $240m/$100k=2400months = 200 years to honor!! These guys are some of the more creative scammers we've had around here. Title: Re: Paycoin XPY promises $20 a coin? Post by: tokyoghetto on January 12, 2015, 07:25:04 AM nice scam to create panic buying. I can see the price pumping already. All this just avoid jail time.
Title: Re: Paycoin XPY promises $20 a coin? Post by: healthandwealth on January 12, 2015, 08:56:41 AM Smart traders can take advantage of these announcements. Of course it's BS...but if it causes panic buys...then getting in and out with a bit of BTC ain't a bad thing. Just...for God sake...don't baghold.
Title: Re: Paycoin XPY promises $20 a coin? Post by: unusualfacts30 on January 12, 2015, 09:46:59 AM Hell yeah. Sold everything for XPY.
moon baby moon ;D Title: Re: Paycoin XPY promises $20 a coin? Post by: Ingatqhvq on January 12, 2015, 10:07:54 AM No one can guarantee it.
Title: Re: Paycoin XPY promises $20 a coin? Post by: unusualfacts30 on January 12, 2015, 10:18:51 AM Quote from: 'The Official ScamBase Blog' A minimum of $100,000 in payments from the Company to Sellers will be made on the first of each month, until each repurchased Paycoin™ has been redeemed and each Seller has been paid for Paycoin™ he or she has sold. So, at $20/PayCoin, they'd need to honor $240,000,000 worth of coin. Given that they're promising to do $100,000 worth of this per month, it'll only take $240m/$100k=2400months = 200 years to honor!! These guys are some of the more creative scammers we've had around here. not if GAW holds 90% of the coins ;) If 500 BTC worth of XPY are floating in the market it'll only take them month to bring it back to $20 since all they have to do is buy all the coins from users. That's when people start panicking and start buying further and after that they can keep selling XPY for $20 forever and supply as demand rises and majority of people who buy at $20 won't sell below that price. GAW wins trust of people and gets more people interested. from business point of view it's actually a great deal. Those 100k they spend will make them millions in future or even if they dump people will easily buy it and then they can come back and say they've run out of cash. Only handful of people will complain about it. Faith is restored and Gaw has made millions. You might call it a scam but it takes a mastermind to pull a scam like that one. Out of those 500 BTC you can cut off 100 BTC of loyal gaw supporters who won't even sell it at $20. So they're not really spending that much if you think about what can be achieved once they've gained the trust of people. I mean shit..you buy XPY right now for $5 and they buy it off you for $20. Will you complain? Hell no You'll turn from "Gaw is scam" to "I suck gaw dick for dinner" Title: Re: Paycoin XPY promises $20 a coin? Post by: Sumo on January 12, 2015, 10:22:13 AM I just sold my kidney to buy more XPY OMG IM GOING TO PASS OUT.....
Title: Re: Paycoin XPY promises $20 a coin? Post by: avw1982 on January 12, 2015, 10:25:11 AM Yeah right. And Hashprofit is coming back :d lol
Title: Re: Paycoin XPY promises $20 a coin? Post by: Bansheroom on January 12, 2015, 11:34:55 AM Quote from: 'The Official ScamBase Blog' A minimum of $100,000 in payments from the Company to Sellers will be made on the first of each month, until each repurchased Paycoin™ has been redeemed and each Seller has been paid for Paycoin™ he or she has sold. So, at $20/PayCoin, they'd need to honor $240,000,000 worth of coin. Given that they're promising to do $100,000 worth of this per month, it'll only take $240m/$100k=2400months = 200 years to honor!! These guys are some of the more creative scammers we've had around here. Do research before you post BS or at least turn your brain on....how many XPY are bound to large investors that wont be eligible for the repurchase, how many in prime controllers and how many already in GaWs hand? Title: Re: Paycoin XPY promises $20 a coin? Post by: swansong on January 12, 2015, 12:58:47 PM people who believe this shit, really deserve to lose money.
it is an obvious scam. Title: Re: Paycoin XPY promises $20 a coin? Post by: unusualfacts30 on January 12, 2015, 01:12:19 PM people who believe this shit, really deserve to lose money. it is an obvious scam. so is 99% of coins in crypto. What's your point? ??? Title: Re: Paycoin XPY promises $20 a coin? Post by: cassius69 on January 12, 2015, 01:38:22 PM You might call it a scam but it takes a mastermind to pull a scam like that one. nah, it doesn't take a mastermind to lie out the ass ;D Title: Re: Paycoin XPY promises $20 a coin? Post by: unusualfacts30 on January 12, 2015, 01:43:58 PM You might call it a scam but it takes a mastermind to pull a scam like that one. nah, it doesn't take a mastermind to lie out the ass ;D crypto runs on hype ;D gladly, I was the first one to read the news and bought at 12k http://1.bp.blogspot.com/_wDzTfNbQdVU/TO1yHd7RIcI/AAAAAAAAD-Y/gaOSibnEZ5A/s1600/stock-market-cartoon1.png Title: Re: Paycoin XPY promises $20 a coin? Post by: hazenyc on January 12, 2015, 02:48:58 PM This smells of scam. First they make promises then cannot deliver. Then they make new, more astounding promises. How will they deliver? Who is the greater fool?
Title: Re: Paycoin XPY promises $20 a coin? Post by: catotune on January 12, 2015, 02:57:26 PM This smells of scam. First they make promises then cannot deliver. Then they make new, more astounding promises. How will they deliver? Who is the greater fool? "This initiative, which will have a $20 purchase price, is our plan to ensure every coin-holder receives the $20 purchase price for their Paycoin™." It looks like they are going to charge their customers $20, to pay their bagholders $20 - I'm pretty sure they don't plan to pay for it out of their own pockets. Title: Re: Paycoin XPY promises $20 a coin? Post by: inBitweTrust on January 12, 2015, 03:07:51 PM Anyone have a copy of what allen1980 posted last night in regards to the INCOMMING announcement? would be interesting to read.... what got him banned? This is what he posted: It is also a step-by-step process that will be independent, secure and consistent (in terms of monthly disbursements). Though the marketplace controls the price of any coin, and because of our pledge to users of Paycoin™ about the $20 figure, The Paycoin™ Honor Program reconciles any price discrepancies; it restores the $20 valuation. PayBase will offer a Repurchase Agreement to the general public for 30 days, which will establish a contractual arrangement between PayBase™ and any Paycoin™ holder (Seller), whereby the Seller agrees to sell Paycoin™ to PayBase™ at $20.00 USD per Paycoin™. ________________________________________ • 30-day Signup: Coin-Holders will have 30 days to enroll in The Paycoin™ Honor Program. This period will start on February 1st and end on March 2nd. ________________________________________ • Paycoin™ Will Be in a Secure Third-Party Vault: As part of The Paycoin™ Honor Program, we will have an exclusive – and secure – vault to house Paycoin™. In the interest of transparency, a separate entity unaffiliated with either PayBase™ and/or GAW will manage this vault. ________________________________________ • $20 USD Payment in Bitcoin at the USD Rate of Exchange, Upon Commencement of The Paycoin™ Honor Program: Repurchases of Paycoin™ will yield a payment of $20 USD, in Bitcoin, at the USD rate of exchange for each monthly disbursement during The Paycoin™ Honor Program. ________________________________________ • Monthly Repurchase Disbursements: A minimum of $100,000 in payments from the Company to Sellers will be made on the first of each month, until each repurchased Paycoin™ has been redeemed and each Seller has been paid for Paycoin™ he or she has sold. We reserve the right to increase these payments, to make all disbursements as quickly as possible. ________________________________________ Question 1: You are saying that a third party will be "holding" our Paycoins, which must be "surrendered" at the time we agree to sell said Paycoins? Question 2: This agreement will not cover those Paycoins, having been staked for the past 21 days, since they cannot be removed from the Staker wallets? Question 3: The daily Staker yield will not be able to be added to those coins initially surrendered? This is a one transaction exchange? Question 4: You will not be paying, in full, the value of $20.00 per surrendered coin, but will be taking the entire number of customer surrendered coins and "buying down the liability" over the course of years, and at a buyout rate of a minimum of $100,000 per month? Question 5: Will a surety bond be purchased to ensure the solvency of this program of Paybase/GAW, as well as the $20.00 value of the vaulted coins should GAW/Paybase become insolvent? ________________________________________ Analysis: This means that if the vast majority of people here decide to sell at the $20.00 price, and the amount of coins to be sold is 1 million, the following: 1 million XPY x $20.00 = $20 million $20 million divided by $100,000 per month = 200 months or 16.7 "YEARS" No interest on the held coins. The last XPY coin is to be mined at the end of the 15th year. Not only do you probably have no access to the surrendered coins, but you may not see dime one for years, unless this "Official Post" on a "blog" is also misrepresenting intentions. In this case I hope so. This is exactly like the MultiHashlet miners that make 0.000000001 in profits each day, as follows: ________________________________________ Hypothetical Case: 1 million XPY 667 Accounts 1,499.25 XPY per account $20 million total value $100,000 per month repurchase 200 Months 1,499.25 XPY divided by 200 months = 7.50 XPY per month or $150.00 per month in repurchased coins per account. ________________________________________ Moreover, they are asking all involved in this program to further assume additional "business risk," because GAW may not even be around after 2015, at least not in this capacity. Basically, if all that I have interpreted is correct, they have just insulted our intelligence. Title: Re: Paycoin XPY promises $20 a coin? Post by: Sumo on January 13, 2015, 06:03:19 AM XPY climbing the charts again. If $20 holds true, we should see a much bigger gain. Convention coming in a few days.
Title: Re: Paycoin XPY promises $20 a coin? Post by: btckold24 on January 13, 2015, 06:32:11 AM was very excited to the email from gaw saying they would hold to the 20$ mark! Not sure if I want to take a quick profit and just keep some or wait for the 20..... tough decisions.
Title: Re: Paycoin XPY promises $20 a coin? Post by: bitcoin_bagholder on January 13, 2015, 06:54:42 AM was very excited to the email from gaw saying they would hold to the 20$ mark! Not sure if I want to take a quick profit and just keep some or wait for the 20..... tough decisions. Get out while you can. This one has all the makings of a bad ending........ http://hitanalyst.files.wordpress.com/2010/09/train-wreck.jpg Title: Re: Paycoin XPY promises $20 a coin? Post by: unusualfacts30 on January 13, 2015, 08:05:43 AM was very excited to the email from gaw saying they would hold to the 20$ mark! Not sure if I want to take a quick profit and just keep some or wait for the 20..... tough decisions. Why not both? ;D We all know that this will pump till Feb 1st. Smart traders would use it as an opportunity to make quick profit on daily basis and then cash out when it hits $20. Volume increased from 150 BTC to 743 BTC within a day and it's still going up while price hasn't moved much. You know what that means, right? I'm watching the chart and looking at how someone is trying to manipulate the market so he can collect as much as he can before pumps begin. This is dream come true for whales. Title: Re: Paycoin XPY promises $20 a coin? Post by: avw1982 on January 13, 2015, 09:47:14 AM was very excited to the email from gaw saying they would hold to the 20$ mark! Not sure if I want to take a quick profit and just keep some or wait for the 20..... tough decisions. Get out while you can. This one has all the makings of a bad ending........ http://hitanalyst.files.wordpress.com/2010/09/train-wreck.jpg an image says more then a 1000 words :D Title: Re: Paycoin XPY promises $20 a coin? Post by: beliomir on July 02, 2016, 11:01:09 PM Hi! Everebody!
Can we have some(s) pool(s) for paycoin? Is it already good for mining? Thank's! Title: Re: Paycoin XPY promises $20 a coin? Post by: americanpegasus on July 02, 2016, 11:11:29 PM The whole debacle was Comedy Unobtanium to keep us occupied through the crypto bear market. And what do knuckleheads do the very next year? Jump wholeheartedly into the next series of scams! >:(
Title: Re: Paycoin XPY promises $20 a coin? Post by: rokkyroad on July 03, 2016, 12:20:22 AM OMG. This was likely the biggest scam in crypto. No one knows how many millions of dollars were raked in by paycoin and cloud miners. I don't think anyone has been brought to justice either which is the beauty of crypto scams.
Title: Re: Paycoin XPY promises $20 a coin? Post by: bones261 on July 03, 2016, 04:33:03 AM OMG. This was likely the biggest scam in crypto. No one knows how many millions of dollars were raked in by paycoin and cloud miners. I don't think anyone has been brought to justice either which is the beauty of crypto scams. The SEC brought charges against Josh Garza, last December. Title: Re: Paycoin XPY promises $20 a coin? Post by: TheMage on July 03, 2016, 04:38:50 AM Title: Re: Paycoin XPY promises $20 a coin? Post by: ArticMine on July 03, 2016, 03:04:47 PM It is still trading. Here is a chart https://bitcoinwisdom.com/markets/bittrex/xpybtc (https://bitcoinwisdom.com/markets/bittrex/xpybtc)
Title: Re: Paycoin XPY promises $20 a coin? Post by: CoinHoarder on July 03, 2016, 03:19:16 PM I will back the sell side of the $20/coin offer. To anyone that wants to buy XPY... I will give you $20 coins all day long.
Title: Re: Paycoin XPY promises $20 a coin? Post by: GreenBits on July 03, 2016, 03:24:31 PM OMG. This was likely the biggest scam in crypto. No one knows how many millions of dollars were raked in by paycoin and cloud miners. I don't think anyone has been brought to justice either which is the beauty of crypto scams. The SEC brought charges against Josh Garza, last December. Lol, and the coin is still openly listed on exchanges? I guess, more importantly, people still speculate on this asset? Title: Re: Paycoin XPY promises $20 a coin? Post by: cryptfox on July 04, 2016, 08:38:34 AM OMG. This was likely the biggest scam in crypto. No one knows how many millions of dollars were raked in by paycoin and cloud miners. I don't think anyone has been brought to justice either which is the beauty of crypto scams. I loss up to 2btc to this scams, may people behind this scam received their karma |
