 This chick obviously won the juggerponzi. Unfortunately there are 9 bone chested women out there who lost... |
|
|
|
Since the term and ROI is so long is makes absolutely no sense at all to bid up the coin. The more expensive the less return for you the buyer. Of course it works the other way around for Josh.
No. The payout has been fixed and it does not matter whether the odds of receiving any of the payout are 1: 1,000 or 100,000 or 1,000,000 to GAW. The ONLY way it would any difference is the affect it has on the coins that the GAW insiders running this scam will get paid by GAW, but that is peanuts compared to being able to keep on dumping free XPY in exchange for cold hard BTC. |
|
|
|
It's obviously bullshit because it doesn't make sense. Now that the $20 price will be "honored" it doesn't make sense for GAW to let the price sit at 5. Every coin they buy at $5 puts $15 back in their pocket. What is the plan to earn that $15 between now and march?
"Every coin they buy at $5 puts $15 back in their pocket." Who buys? Whose pocket? If you buy that coin from GAW at $5, then GAW gets $5 in cash from you right now, in exchange for agreeing to pay you ten cents per month for 17 years (assuming a million coins go into the vault). Exactly. Something that seems to be overlooked is that fact that once a fixed payout is established, it does not matter how many coins flood the market, meaning that Josh & Co are hitting the gas pedal in terms of cashing out as much of their pile of free shitcoin as possible. To GAW it does not matter if the price is $1 or $5. All that matters to them is how much cash they can take out of people's pockets and put in theirs, and the XPY they have cost them $0, so dumping at any price is a win for them. Also being overlooked is the difference between GAW insiders personal holdings and GAW's holdings. The name of the game is to take people's cash and filter it through GAW and put it in their PRIVATE wallets. When the Ponzi finally collapses they then say "Awe shucks. We are sorry. We tried so very hard to make this work but the dumpers bankrupted us" At that point they discard the bankrupt company and laugh while sitting on their fat personal wallets. |
|
|
|
@Yuzki: You could choose the portion of investment with the most likely avenue of success and thus be under the threshold. If you have a viable case you can likely find a lawyer who will work for a small down payment and the rest on contingent.
Trouble is that even if he/she wins the case it still needs to be collected and that's a whole other story. Another potential issue is jurisdiction. GAW's TOS may require to resolve all disputes in CT for example (I can't check now since they've hidden their TOS - another classy move). If they're suing in small claims it has to be done in the defendant's location, I think. See http://www.jud.ct.gov/faq/smallclaims.htmlNo. The Connecticut state rules that you linked to actually gives instructions for a CT state resident filing against an out of state business. As usual you do not know what you are talking about even when you link to the document which explains it. As was mentioned earlier, the real issue is collecting once a judgement has been rendered against an entity in another state. |
|
|
|
@ Suchmoon: I agree about the issues and that getting CC reimbursement is probably the best bet for seeing any money returned. If that fails then I would look into an L word. Just trying to throw out options for victims of this scam to consider.   The GAW faithful are taking a vicious beating this morning as they ride the rollercoaster of dreams. Sad to see these fools continue to stuff Josh & Co's pockets with their money. These fools just can't accept that this ride ends in a pond of muddy water like a logride, where they take a financial bath. Oh well, one is born every minute I guess. |
|
|
|
|
@Yuzki: You could choose the portion of investment with the most likely avenue of success and thus be under the threshold. If you have a viable case you can likely find a lawyer who will work for a small down payment and the rest on contingent.
|
|
|
|
How much are you in for? Hundreds, thousands, tens thousands? I was a homero loving worshiper but now realized all this BS...
A little late for me it seems. I opened disputes on all credit card charges for when I bought those hashtakers at opening price and paycoins at 20$ a pop.
Is there anything else I can do to get my money back or am I fucked?
I am down about $20-25K...  I hope Mastercard fights for me. I have sent them all the screen shots and captures I could find at the time. I'm hoping there were others that also filed disputes so it would create more awareness. There is always small claims court (assuming you are in the US). A multitude of disbursed smaller lawsuits would probably be a lot harder for GAW to fight than a couple large ones where GAW can sick some high dollar scumbag attornies on people with their own money that they gave GAW. The amount one can sue for in small claims court varies from place to place, you might want to check. |
|
|
|
|
One point to the OP: The Ghash pool is not just their own miners, anybody can mine there. I have done so myself. I do not know what percentage of the pool is their miners and what is other peoples. I bet nobody except them know.
|
|
|
|
Nobody yet has really discussed the potential opportunity for Gaw to corner the XPY market - if they buy up the small amount in free float (since the vast majority they already own via pre-mine a.k.a. staking payout reserve fund), well then they CAN manipulate the price upward.
And what would be the point of that? If they have all of them what will they use them for? To keep suckers buying in at a high rate and pissing out some of their endless supply of XPY little by little. |
|
|
|
If paycoin falls in the Forrest do you hear it ?
Nope, if Paycoin falls in the forest Josh will tweet the believers and soothingly tell them that the world turned sideways and Paycoin is still standing tall and they will believe it. Check out the latest "Not a pre-announcement" over at HT. One little blurb from their messiah and they are all giddy and talking about what "gift" he has for them this time: https://hashtalk.org/topic/28778/incomingIn 1 hour over 130 schoolgirl posts. Effing pathetic. |
|
|
|
Market reaction to the latest load of bullshit from Josh:   |
|
|
|
And there are still idiots on HT who believe the whole purpose of Paycoin was for Josh&Co to hand them free hamburgers and somehow the whole plan went awry and it can still be fixed: https://hashtalk.org/topic/28732/wallet20-as-a-way-to-help-a-paycoin/10I guess many who are caught up in this may never come to grips with the fact that the whole purpose of Paycoin was to take money out of their wallets and put it in Josh's.  |
|
|
|
If he had a shred of real business sense, he might have been able to make the coin work... wishful thinking right? 
How? Serious question. If they had told the truth about it (peercoin clone, huge premine, hardwired addresses get huge interest rates, shell of a website, no partnerships, no major fiat backing, no serious possibility of holding a $20 floor) it never would have gotten off the ground. He wouldn't have been able to get anyone buying at the "bargain" price of $4, much less load up at $10 just before the launch on the promise of doubling their money in a few days.
Now that they've officially abandoned any idea of holding a floor, and are desperately trying to claim they never uttered the word "partnership," what's the best case future? What are they promising now? Integration with a browser plugin that looks like it will deliver a truly awful shopping experience, with fees and no refunds and stuff you think you're ordering from one retailer actually coming from another. That's only if they can get around the Amazon TOS issues. Maybe a debit card, but there are plenty of bitcoin debit cards so that's no great thing. Nothing that would create any significant value. You are right, everything that was done was completely fubar. But... If the notion for this coin and its technology were in the hands of someone capable, someone who could have made these things happen, could it have been useful?  Short answer : NO Long detailed answer : No effing way, Brah |
|
|
|
I don't think so. Those are EVGA 1,000 watters which can run 2xS3 (you can see that in the operation pics) and they have those for sale @ $129 each in the email. Yesterday I saw an Email flyer that also had server PSUs with PCIe cables for sale by GAW, I bet one of those is included with the $169 S3/PSU deal. Edit to add: DOH! The email I was talking about is the one linked here, I had just looked at the other one. You can see the server PSUs for $50. I scored 2x EVGA 600 watt PSUs from Egg for $19 on BF. They are a really beefy 49 amps of 12volt. |
|
|
|
I was just wondering what power supply they are providing with them?
I was curious about that as well. Someone posted the Email yesterday and it showed the EVGA PSUs with the red braiding in the pictures for sale by themselves, and also server PSUs as well. I bet the PSU included in the $169 S3 deal is a 100 db Jet Engine server PSU and not the pricey EVGA one. Can anyone confirm this or find the post with the email? I tried to dig through the ~50 pages from the last day and my eyes got blurry and I gave up. |
|
|
|
GAW might be returning to its roots as a hardware reseller, I just got the first email yesterday offering Bitmain miners. Not a single mention of PayBase or Paycoin.... I think he realized that this is going to come crashing down around them and ruin the company, so back to plan A?
They are selling off the closet full of Antminers that comprised their "massive mining operation". Take your pick out of their huge inventory from this massive mining operation. |
|
|
|
There are a lot of scam accusations based on theories not on much fact. Yeah Josh has made promises on Hashtalk about the $20 floor that turned out to not happen at launch for what could be any number of reasons. It may be a scam , ponzi or whatever you want to call it, but just because it did not work out does not automatically make it fraud. Businesses make poor decisions and overhype their products all of the time so until there is proof of malicious intent I would only say GAW is just a massive failure at this point just like many other companies. I hope when the truth does come out it this is all that it is because we have way too many other proven scams come and go already. Yes I did invest some in paycoin ....(   |
|
|
|
Alright xpy baghholders can we get another dump??
Can we get an amen??
 The believers keep throwing BTC into the volcano and the gods are not responding.... Well, unless they happen to be holding a lot of free XPY (wonder who that might be?), then they are snapping up that hot BTC as it hits the lava... |
|
|
|
|
Show Posts
