This is my favorite part from that WSJ article: Still, many say that GAW — as with all cloud mining operations — could be far more transparent. Amith Nirgunarthy, CEO of cryptocurrency information site IHB.io, says GAW should provide “their coinbase addresses on the bitcoin blockchain.” Without that, he said, “none of their mining contract payouts can be traced to virgin bitcoins,” ensuring that it “smells like a ponzi scheme.”
In rebuttal, Mr. Garza says bitcoin purists’ demands for total transparency are inconsistent with how for-profit companies compete in the real world. “No normal company does that,” Mr. Garza said, adding that “operating that way won’t make more companies want to come into this space.” |
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Why would you have a litecoiner debate Garza? It's like two scammers trying to argue over which altcoin is the best. Garza singled him out because litecoiners are brain dead to begin with.
If it were me, I may have done something different. However, I liked Mage's tone. It was strong and assertive. Whachagonna do? |
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TheMage's response was good.
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Voorhees was talking about the Miami conference, right? It's not the same as protesting against coin/exchange conflict of interest. There are some interesting questions to be raised here, given the recent discoveries in Paycoin source code etc. Anyway, it's for Andrew to decide, I didn't mean to make it sound like I know what's best here.
You are correct RE: Vorhees - I misspoke. Thanks for the heads up. Definitely for Andrew to decide, and I don't know what's best either. Just idea-testing for now. [attempted] Edits. |
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Wouldn't that be similar to Garza refusing to do the Reddit AMA and wouldn't that just fuel the fire? As long as the debate is not scripted, moderated, or otherwise controlled by GAW it could be good. Just listen to some of GAW's own Q&As, Garza stutters even on things he should know best of all, hashlets, hashstakers, and other tamagochis. Or read his CoinBrief interview. A few inconvenient questions and we'll see what's "bad for our industry". Its different. He wants to turn the tables and have a debate about the boycott. Why give any ground? He has the burden to prove RE: legitimacy of his business - that should be the focus of the debate, not whether calling for boycotts is bad for their business. In other words: https://www.youtube.com/watch?v=4F4qzPbcFiAAlso, this debate topic forces The Mage to debate against Vorhees and others who were against the call for the boycott - its splits the BTC base and builds allies for gaw. Clever. Don't fall for it. |
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Posts are STILL getting deleted over 4 pages now.
Yep. Will be watching. |
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 Really? You mean like knowing the floor will be $20 like this?  Good quotes. Also, IIRC, the terms of service of paybase.com state that the price of paycoin at paybase is an average of the prices at the exchanges, and purchases at paybase are actually between customer and paycoin,llc - not between buyers and sellers at various price points. so, the only way to move the market is by using the hell out of those enterprise accounts to create artificial scarcity. In other words, a good chucnk of the model that people relied on in acquiring paycoin was explicitly premised on market manipulation. Oops. |
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Scott, I say this tongue in cheek and with much support, are you supposed to be some kind of big deal or something? Pics of Ferraris or its not true.  Well, I do not believe I am anyone special regardless of what some others may say for or against me. At this stage in my life, I have no need or desire to display all my toys, wife, or offspring online. Others have already wasted enough bandwidth doing that. Back to the show- Scott- Very good, I approve. The show continues . . . (I appreciate your work here; wish we had the dogetipbot here). EDIT: Additional tongue in cheek comment (maybe has been said) - I can think of one company who is not the front page story today and who could't have hoped for better timing RE: Bitstamp. |
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Scott, I say this tongue in cheek and with much support, are you supposed to be some kind of big deal or something? Pics of Ferraris or its not true. |
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We need to hunt down those forum posts and get them archived. I would do this but hashtalk doesn't load at my job for some reason.
Most of them are deleted, but probably already archived. Or on that 1.4GB archive that I just downloaded and will be torrenting soon... Also, I'll scrub through it when I get a chance. I think we should make our own coin... Paycoined and symbol it "PND" What do you all think? We can even just copy and paste PPC and add a few hyper-inflationary items just for kicks... There is already Paycon (CON): https://bitcointalk.org/index.php?topic=912034.0;topicseenFunny you just linked that... Josh said he spoke with the Paycoin and now XPY has their blessing to use their name... I posted about it a day or two ago in the Paycoin thread and got no info.... I linked the HT thread and LOW AND BEHOLD it has been moved/deleted... Go figure - Below is what it said... Does anyone know if this is legit or just more BS? https://hashtalk.org/topic/27749/orginal-paycoinBefore we choose the name "Paycoin" we did our due diligence. While we found one had been started with the same name, we did not find any activity (sites, forum, etc). We also reached out to the original developer with no response. After a long period of waiting, we assumed that the coin had been abandoned and moved forward with purchasing all the names rights. Once we launched Paycoin, some of the original coin holders came forward to express their frustration with our decision. Since then, we have been working with them to find a solution. I am happy to say we have reached an agreement with them and have their blessing to use the name. Thanks! Wonder if he made any similar statements re: the name "PayBase." See my previous posts if you're unclear as to what I mean. |
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And don't forget... ALL Paycoins purchased on PayBase (Registered... but not by GAW...) will be purchased from the markets, right? Why oh why then did we hear that all Paycoins purchased on PayBase will be from the pre-mine?
What they never premined!  https://twitter.com/gawceo/status/532173907718332417This is taken out of context. The real fact is that GAW mined just like everyone else and were very lucky to find that first block with 12 million coins in it. To ensure fair competition they did it 12 hours before the wallet was released so that evil trolls and dumpers couldn't interfere. True story. And I'm very sure that if someone had been able to mine that first magic block they wouldn't of reverted the blockchain back to 0... definitely... GAW's own paycoin.com terms admit that they premined paycoin: http://imgur.com/VMIKafg |
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https://hashtalk.org/topic/27749/original-paycoinBefore we chose the name "Paycoin," we did our due diligence.
While we found one coin with the same name, we did not find any activity, (sites, forums, etc...)
We also reached out to the original developer with no response.
After a long period of waiting, we assumed that the coin had been abandoned and moved forward with purchasing all the name's rights.
Once we launched Paycoin, some of the original coin holders came forward to express their frustration with our decision. Since then, we have been working with them to find a solution.
While we could have moved forward anyway, we thought it was best to build good will and work with them.
I am happy to say we have reached an agreement with them and have their blessing to use the name.
Thanks! EDIT: Spot saved for archive Ha. Wonder what they say about the name "PayBase" http://imgur.com/a/C5pnEhttp://www.bottomline.com/collateral/payments/PayBase_MICR_checks_ACHpayments.pdf |
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Has anyone taken a peek in tinychat/paybase to see whats going on?
no, but would love a link. they'll need the bong rips tonight. |
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If I could ask a question about Paybase use instead of J. Mordica, I (stupidly) just tried to arbitrage what I thought was an 11.4% difference between Paybase and Cryptsy, but of course I am having problems on the GAW side.
The price they list is the buy price, and is a solid 10%+ higher than the sell price. Jeesh. They also take an apparently undisclosed fee for selling? What is that %?
Lastly, I am now attempting to just put the XPY back on Crytsy since I can sell with no loss there, but I keep getting "Withdrawal Error: Please try again later" each time I attempt to withdraw my balance.
Does Paybase even work?
Just tried this as well, ehem, Seems he's taking around 10% as a fee to convert to Btc. Haven't tried to withdraw yet. Was going to leave it to be obsorbed into his new exchange and hopefully catch the $20  To answer one of my questions, it appears that GAW is levying a 5% fee to my attempts to sell. My reasoning is: 1. The listed value of 1 XPY when selling is $5.65 2. The listed value of 1 XPY when transferring is $5.95 Quite the large hidden fee! Twenty times higher than Crytpsy. Dude the guy has to eat. Plus vests are expensive. Also, Ferrari's are expensive. https://www.facebook.com/jessica.garza.77/media_set?set=a.161016811281.157639.621071281&type=3 |
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If I could ask a question about Paybase use instead of J. Mordica, I (stupidly) just tried to arbitrage what I thought was an 11.4% difference between Paybase and Cryptsy, but of course I am having problems on the GAW side.
The price they list is the buy price, and is a solid 10%+ higher than the sell price. Jeesh. They also take an apparently undisclosed fee for selling? What is that %?
Lastly, I am now attempting to just put the XPY back on Crytsy since I can sell with no loss there, but I keep getting "Withdrawal Error: Please try again later" each time I attempt to withdraw my balance.
Does Paybase even work?
Just tried this as well, ehem, Seems he's taking around 10% as a fee to convert to Btc. Haven't tried to withdraw yet. Was going to leave it to be obsorbed into his new exchange and hopefully catch the $20 To answer one of my questions, it appears that GAW is levying a 5% fee to my attempts to sell. My reasoning is: 1. The listed value of 1 XPY when selling is $5.65 2. The listed value of 1 XPY when transferring is $5.95 Quite the large hidden fee! Twenty times higher than Crytpsy. TBF, they don't agree that its a fee. |
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Anyone know about the alien thing? That's what got me here to begin with.
aliens + paycoin + ray guns from meganet confirmed... garza is the second coming of christ Is every one of your posts on this forum GAW or Paycoin related? |
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