200 BTC volume is not low

And if price remains high and going higher, auctions non their site will take off like a rocket

HurrY up, get on the horn with a few ambulance chasers, this is solid ground for a Class ACTION!!!

Wow, just wow...

While I agree there are significant risks out there by making this information public, I thank cromwell600 for it because lets not forget this is a BETA projecty and all of these issues MUST be dealt with and solved. If some people do take advantage, lets not forget either that this is a CENTRALIZED project, WHICH MEANS, AMONG OTHER THINGS, THAT THE DEVS CAN CANCEL THE ACCOUNTS THAT GAME THE SYSTEM, PERIOD. And they should exactly do that.

Also, they have told me that they do not have any problem coming out publicly with their personal holding in the coin. THEY MUST DO THAT as soon as possible and immediately after a proper blockchain is made available... which is way more urgent than any other development. The credibility and transparency of the devs MUST be paramount since this is, again, a centralized project.

Another matter: I have corroborated that the synced coins are ARBITRARILY (I repeat: ARBITRARILY) reduced. One again, I have CORROBORATED it personally. I moved the phone for a while to add to my synced coins the 7 daily maximum, at 10:00 PM. The system added them with no problem. Next day, more than 24 hours later, I did exactly the same... the system added the 7 coins -including the 1 and change it had mined all day- but, later, it deleted them -not ALL of them, it retained the 1 and change it had mined during the day-. I repeated the experiment hours later... to the same exact effect. And, finally, I repeated the same actions 24 hours (more, actually) later, and still the system would not sync the max of 7 coins per day, not even close to that. What's with that? That is a major, major, MAJOR bug that has to be corrected, because as it is, it is quite a joke.

Finally guys, you are not advancing at all in re-branding and frankly concentrating too much on the IOS compatibility.... which is NOT as urgent as securing the network, making the proper blockchain available and correcting issues like the one I have detailed. GET ON THE PRIORITIES, please.

This coin has a dedicated and transparent developer in Jim Blasko. It is more than can be said for the vast majority of altcoins out there, so it is no wonder that the coin is taking off on announcement of upcoming major PR launch.

The truth is.... no one wants to hear the truth.

Once again I disagree. Buying credibility is akin to buying "worthiness", therefore PayCoin will be -if that scenario pans out- by far the most credible and worthy of all crypto coins. By far. And its price will reflect that.

Now to put a confirmed scammer like Dan Metcalf and his goons in the same sentence that Garza SO FAR, is ludicrous.  And extremely disingenuous.

Again, unless you just want to increase the Google count for those catchy terms, to pretend that wild speculation -and outright lies - have any weight at all at the moment is simply futile.

Really? Not only the price hasn't move a single cent with the "update" but the (non-existent) volume has been 0.36 BTC in the last 24 hours... One would believe someone would put some more value on the SFRDirect thingy, don't you think?

Unless most believe the whole thing is just raw BS, of course.

I am going to disagree on that, again. PayCoin IS Josh Garza. For good, bad and in-between. Removing himself from it would mean instant death of the project. And as for "someone with credibility", who would you suggest off the top of your head? Not anyone in crypto, that's for sure, I assume? No one but no one, no exceptions, no excuses, in crypto has ANY credibility, any at all. There are those who have credibility within a group of nutcases that lack any at all withing another group of nutcases. That's how the cookie crumbles. And please, lets not forget that crypto is the Land of the Nutcases, period. As for someone from outside, well, in the Land of Nutcases, anyone from outside would be immediately lacking any credibility whatsoever, so...

"Money walks", that's how the saying goes... even in Nutcase's Land, so the ONLY way to gain credibility, is by giving money, especially the money GUARANTEED, to the people that invested. And, as far as current info goes, that is exactly what Josh Garza intends to do. If and when he has disbursed half a million dollars after 6 months in the Honor Program, you can be quite sure that most everyone (there's always the nutcase's group that wont, regardless) will give him a lot of credibility. Nothing else will at this point. He knows it and most people know it. And, all in all, it is so clever that it is probably the cheapest way ever to buy credibility.

We will see soon enough if indeed that is the path chosen.

Considering that, according to CEX-IO CEO Jeff Smith, "...$320 (per BTC) would be the price point at which most miners will get out of the red..."), and since we are presently at 26% BELOW that mark, one has to reasonable ask: What is the future of BTC AND, Is there one at all?

Due to the recent dip in price (to mid $160's), mainly, many companies have gone belly up... including CEX.IO. Batterfly Labs, HashFast, Cointerra... More will no doubt follow if there's not a sustained rebound. The rebound supposedly motivated by the $75 million dollars cash infusion by venture capitalists to Coinbase, along with their proclaimed regulation in 24 US states, was very sharp (to $310) but extremely brief, so price is back down perhaps on way to test those recent lows or even go lower. So, considering this sustained reality, what is the future of BTC and Is there any at all? Everyone concurs that the blockchain tech will be here to stay... but who would sustain it if miners have to look for a different, less costly hobby? No miners, no blockchain, right?

Meanwhile the other alt coins suffer a debacle in price often of higher proportions than BTC, so, obviously, markets are telling us that the whole shebang is held strictly by BTC.

Opinions?

I certainly don't expect more than the minimum for the time being. And it is a very wise way to cover his ass by Josh Garza for no one can accused him of not honoring his promise... while, at the same time, gaining precious time if BTC is to ever rebound and PayCoin and PayBase to gain real traction and credibility.

And all for peanuts compared with what he has already collected.

I find the strategy quite brilliant, actually. And it could very well work in the end, favorably, for all involved.

Now you have crossed several lines in a very clumsy and extremely stupid attempt that naturally fails as it should: I am not helping anyone to promote anything, first and foremost. I am debating, and reasoning, why in my personal opinion, it is more likely than not that PayCoin will honor their Honor Program. All the rest of stupid nonsense, you volunteer it, associating it, to more ridicule, with some biblical references thatare as idiotic as your "argument". I am done with you, sir. Fuck the hell off.

Simple math: If he has sold 6 million coins at $5.00 each that's $30 million right there. 12 months at $100,000 in the Honor program will be only $1.2 million. He can be honoring the Honor program for YEARS! And presumably he also still have another 6 million XPY in reserve all for himself. Now, you tell me: Is there ANY other coin out there that can honor such guarantee FOR YEARS, years in which it can establish itself as a crypto of currency value while establishing at the same time a trading platform in direct competition with Coinbase, which is an enterprise already wildly successful? Not only there's absolutely nothing even remotely close, but this is, EVEN AS A PONZI SCHEME, way better than 99.99% of other coins out there possibly including BTC itself, ok?

Just imagine if there's no Ponzi scheme and Garza actually sold tons of miners, delivered them to satisfied customers and now sit on a gigantic mining farm, tons of his own money AND Wall Street investors ready to plunk tons of Fiat in PayCoin as it progresses and PayBase...

Sorry, I just KNOW you just don't want to even remotely imagine that...

My exit plan, since you seem concerned about it, is, obviously, to apply for my $3400 as soon as possible (the $20 per 1 XPY guaranteed in the Honor Program). If that is indeed honored, as I expect it to be, I will make a little bit of money on the thing AND I may reinvest part of it.

I haven't followed the GAW miners story, so I don't know about lies or promises broken there. What I know because I have read some of them, is that many satisfied customers praise the service they have gotten from them over a long period of time. Censorship, bannings and hype... it goes with the territory, doesn't it? I mean I personally detest the two former ones (there's no one, anywhere, which is more against censorship in ANY instance and for ANY excuse, than me. I have long established than whoever censors -or uses a "self-moderated" thread- does so only for one reason: He has something to hide, so there are no two ways about how I feel about those...).  That said, by the sheer nature of this project, the volume of posters asking question and repeated ones at that, would make it impossible to even remotely handle it in a satisfying manner for all involved. He, Garza, has the blog which is or should be more than enough. That he posts sometimes in that hash place, is simple a concession that he should probably stop for good. As for hype, for lack of a better word, is both inevitable and -in my book- good... when it is REASONED.
Loud mouth Josh Garza hyped PayCoin way above what was reasonable and reasoned. That, together with horrendous timing -debacle of BTC price-, put him and his project in the shambles it is now... together with opening his mouth about a bunch of things that he should have kept quiet about.

All that said, with a bit of help from the BTC market -first rebound was strong but now is going back down significantly again- and if he really has the money everyone assumes he has from the sale of PayCoin, he can easily buy back his credibility by carrying out the Honor Program for months without spending a single additional penny. I believe he will be compelled to do so. It just makes good business sense for it will allow plenty of time for a potential big rebound of the price of BTC, on one side, and for a rebound of the price of PayCoin itself when he can demonstrate that he's honoring his warranty, so it makes sense to me that he will do exactly that for at leas 6 months or more. And that in crypto is decades. In which anything can happen and all shorts of things WILL indeed happen.

I also seem to recall he, Garza, admits to trade heavily in BTC. If so, he surely made quite a mint riding the rebound from mid 160s to 310 recently and may be reading the moolah to do it again soon, if he is not already accumulating BTC in this retract from 310 -already a 25% haircut-. So there are many ways for him to make a lot of money even if PayCoin itself proves to be unsuccessful... which is far from a foregone conclusion.

And we haven even talked about PayBase yet...

Since you seem so interested, in spite of the fact that I have already told you my investment in XPY is very modest and I have traded, for profit, a few times already, I guess you would be interested in specifics. OK, my total investment is 2.5 BTC approximately. At the moment, after those trades I mentioned before, I own 170 XPY.

I hope this knowledge brings you a lot of satisfaction, which would be as inexplicable as your very vocal crusade against a project in which you have no financial interest whatsoever, as per your own words.

Anything to make you happy...

Well, these days -months actually, even years- that is the norm (to see an investment doing badly), not the exception. That is not the point though.

And yes, Gaw supplied plenty of ammo with Garza being an obvious big mouth and with a launch plagued by significant problems, some of which should have been foreseen and corrected, no one is arguing that. What is in discussion though is if it was a scam. If indeed it IS a scam. And, as "charged" here, the continuation of a series of scams in a ponzi scheme.

So far those "charges" remain being pure baseless speculation and attempted by one a handful, less than half a dozen, inexplicably vocal and highly motivated individuals, none of which, by their own admission, having ANY financial interest whatsoever in either GAW or PayCoin.

That must be a hard case of wishful thinking, because I haven't stated such a thing... NOR actually exist "multiple websites" of any kind that have intended such purpose. Only a pretended "news site" -your definition, and none else, of course- has published a clumsy, obviously fake "report" about the "SEC investigation". Puerile to the point it wouldn't pass the scrutiny of a 5 year old kid... which seems to me it's about your mental age.

I just took a look at that link you posted: NOT A SINGLE POST, not one, claiming it is a scam (GAW). Not a single one, not one, "exposing" unfulfilled promises regarding delivery of hardware. Not a single post, not one complaining about small payouts of hashlets. Not one. And those are supposed to be guys banned or shadowbanned of whatever you want to call it, from the main.

Again, it seems to me like the best possible endorsement of GAW's activities... not to mention full support for PayCoin.

But please, everyone comes here to BTCT, everyone in crypto. Why don't you start a list of people that can prove they have had wronged deals with GAW?

That way we could count them in exact numbers... and uh, ah, the ones, no matter how vocal, who only have theories about scams, well those do not count for now, ok?

Sorry but no, only about half a dozen people, all of them self-confessed not investors in GAW, either on the hardware, hashlets or Paycoin sides, post here unsubstantiated theories... when not outright falsehoods, like the pretended SEC investigation "reported by a news site". Obviously you do not know what a "news site" even looks like otherwise you would have already know from miles away that that site is nothing but the opposite of "news" AND that the "report" about the pretended "SEC investigation" was a total, fabricated falsehood. Even a pre-schooler would have identified both. Clearly.

And no, the "followers" continue following Garza, not complaining about promises not kept ... or hardware not delivered. Massively.

Trying to build a theory on falsehoods, as you did in this most recent post, not only doesn't work but actually destroys any semblance of credibility you may have attained with your orderly, though unreasonable, conspiracy theory of earlier.

Sorry, much less of a case, even.

AND I am far, far from sure that it is not an elaborate scam, ALL or at least the PayCoin part of it. It could very well be, I don't know. And, as stated above several times, the reason I don't know is because hundreds, if not thousands would have already come forward to protest unfulfilled promises. NONE -invested, that is- has done so. Only a total of about half a dozen -you can count them, including yourself- have done so. AND none of them, by thjeir own admission, has ever done ANY business at all with GAW.

I wouldn't know if your "facts" are correct or not for the simple reason there aren't any in your post... And, mind you, I don't say this as a bad thing -as you will find out below-, but as a matter of simple FACT. What you do is SPECULATE -and quite orderly so- and elaborate on what you believe to have been a scam, or ponzi scheme, from the get go... which is quite possible.

There are a few things that don't check out though, not completely. First and foremost, all that I read negative to Gaw, Garza or Paycoin, comes from a few individuals, you included. Less than half a dozen, who post basically the same theories here in BTCT. One would reasonably expect that if people has been giving big amounts of money, thousands at a time, to Gaw over many months if not more than a year and getting nothing or almost nothing in return, by now we would have quite a few quite angry people being quite vocal everywhere about the "scam", don't you think?

And oh yes I know only too well the kid of mass blindness that can occur in crypto when greedy, deluded people act -or stay silent- because they believe that bringing up the truth will cause them to lose more money, meaning sinking Paycoin even lower. I still believe that out of hundreds if not thousands of people, you would find at least a few dozens of unsatisfied customers\... to put it mildly. Where are those? Don't you think that if a lot of people who bought miners wouldn't have received the hardware at all, they would come forward and say so? Even if they were convinced that non-existent hashlets would cover their investment, many of them would protest EVEN IF THE SCHEME was true and favored them in the short and the long run. Miners are very peculiar people: They want their hardware. They want to touch it. They want to worship it. They want to warm their garages with it. They want to break up with their living companions because of it. They want to jerk off near them... and yet, I can't find anyone protesting angrily. That tells me they are rather satisfied customers. Not only that: Satisfied customers ready and willing to follow Garza and his projects by bringing in more money to invest. And yet, at this point, with the price of PayCoin in the gutter, they still, massively, support and believe in anything Garza says... ALL of them, not just a few, not even just a majority but ALL of them... while the only ones describing scam in all shorts of speculative ways, are just a half dozen guys who, by their own admission, never bought anything from GAW nor invested in Paycoin. I'm sure you see my problem with your scenario...

And, like I said above, the FACT that you don't have any facts but speculation, is NOT something that will put me off at all. As I have explained, I am quite familiar with the kind of amoral, greedy blindness infecting ALL of crypto that would silence quite a bit of the vast majority, regardless. If you read my THE WALL OF SHAME, you'll see that I fully support reasoned speculation to counter the shameful activities of so many in Cryptoland and try to protect the naive and/or new to digital currencies. But, as mentioned above, the reasoning in your speculation is flawed in my view. In other words: By this time, if your speculation was even remotely close to the truth, the clamor would be of humongous proportions and Garza would be forced to come up with much faster solutions to his troubles... or become a fugitive of the American justice. He's not even close to that at this point. So the question, again, remains: Where are all those unsatisfied customers that have been giving GAW thousands upon thousands of dollars, for many months, more than a year, without having ANYTHING AT ALL to show for it?

Without those, and in significant numbers, sorry but you have no case.

With that I agree. Including IBM (working on blockchain tech).

But that doesn't reflect, so far, in any significant growth in the rate of adoption or BTC and much less of any other altcoins.

As a matter of fact, the opposite seems to be happening, as many people scammed run away from crypto for good.