 Show Posts
|
|
Pages: [1] 2 3 4 »
|
|
"Josh Garza
@gawceo
After telling a good friend of mine how things will end. He says "you should buy up all the primes". I would if I could #paycoin"
Yea tell your friends the plan not your investors, but make sure you post something like this so more people spend more. What a scum move.
|
|
|
|
Also can we get proof that the two companies that were to make the Vault Breakers actually went under or any proof that you had ordered them to be made?
I've asked him in the past to name these companies, but he just ignores the question. |
|
|
|
|
Where are those graphs you said you could show me from the other thread Josh? Going to keep dodging that one?
|
|
|
|
For those here who do not have any "skin in the game" at GAW/Zen... what is your purpose?
the purpose of this community, as it has always been - to uphold the integrity of bitcoin and cryptocurrencies in general. I fear that people are going to lose out hard in the long run, and cryptocurrency as a whole is going to take a hit. Just last night some fellow showed off how many hashpoints he had, saying he got a loan to buy the hashlets to obtain all those HP. I feel so sorry for people like that, because it was a poor decision he made based on the mindless cheerleading that goes on over at HT. In his mind the success of paycoin is a sure thing and he's taking MASSIVE risks thinking he's going to make the money back. If this thing goes under, there will be a LOT of people out of a LOT of money who will probably never come back to crypto ever again. IF this happens to turn out to all be a scam, it will only bring a bad name to Bitcoin and slow adoption even further. Howabout all the people on btcjam that took loans for for hashlets..far too many people it seems borrowed funds from various sources to give to the all mighty leader And most will default. |
|
|
|
Either way, as others have said before, Paycoin launch is going to be EPIC:
if it succeeds, so many people will have to eat their words. In general, crypto acceptancy would be accelerated, so a good thing. Except, it would negate some of Bitcoin's most valuable assets, primarily that of decentralisation.
if it fails, many more people will take a huge monetary loss and also loss of faith in cryptocurrency as a whole, especially the newcomers and firm believers that have never been able to achieve full ROI.
Most people that made a profit, like me, did so through selling their cheap primes they got around 17$ for much more (40-50$) through GAW's market, whereby GAW actually gained another 10% of all sales as a fee. Win situation for GAW and the seller, not for the buyer though, since Paycoin's failure would be most likely to wipe GAW from the scene.
It will be very interesting to see how this situation develops in the near future. Personally, I think it can still swing both ways, although I am rather pessimistic at this moment.
Paycoins launch is not going to be "EPIC", what of any of GAWs launches have been epic? Let alone functional at launch? I also think people have the wrong impression on GAWS customer sales base while it may be large when this whole thing goes belly up it will just be a drop in the crypt-ocean. |
|
|
|
So he has just run a paid ad campaign basically, no one will take interest if this is his big media whirlwind he was going on about. It's essentially a paid advert. it's a press release. I receive hundreds in my inbox daily and these can be purchased for ~$40, sent to thousands of media outlets, in the hope that someone picks up the copy+paste and puts it on their blog. as is the case here. funny, I work with the majority of national newspapers in the UK and I didn't get this press release, so whoever has been paid to send this out, hasn't done thier job properly  Just watch him make an announcement about "WE MADE IT ON YAHOO FINANCE!!!" :grinning: |
|
|
|
So he has just run a paid ad campaign basically, no one will take interest if this is his big media whirlwind he was going on about. It's essentially a paid advert. |
|
|
|
can i specify which pool i mine on, if I buy into this ponzi?
Nope |
|
|
|
https://www.cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/"Part of the problem is companies like Butterfly Labs, KnC and others have tainted the industry and caused so much distrust with their actions. Now people in this industry treat you as guilty until we prove otherwise. I am doing business my way. We have lawyers and are directly in touch with the FCC, SEC and are hiring more compliancy officers and are in touch with all the different agencies to make sure we are in compliance. We are putting up millions of dollars and have a large customer and investor base that put their trust in us. We are not going to do this the wrong way and let everyone down. People that are detractors nothing will sway them. We can have them all come and go through everything and see it all and they will still say something is not right or we are hiding something." This gave me a little relief, what do you guys think? They couldn't hire enough devs or good enough ones and had to have members of HT read and edit Paycoin's "white paper". They can't even hire enough people for support. Why would you think they're hiring more compliancy officers? It seems like they don't have any at all to begin with. That's the other thing. Josh has not hired a compliance officer, let alone "more" of them. They put their first job posting out 9 days ago seeking one. No way is one already hired and done with the SEC interfacing. Ad is still up, does not look like it has even been filled yet: http://www.indeed.com/job/chief-risk-and-compliance-officer-crco-efe57191577e613cAgain, clearly Josh ignored the fact he was running an unregistered security until 9 days ago, then thought "oh shit!" when reading the forums. Josh does not have the experience to run a business like this, assuming this was ever meant to be a truly legitimate business. AHAHAHAHAHAHAH HAHAHAHAHAA HAHAHAHAHA |
|
|
|
|
The customers might not like it HAHAHAHAHAHAHA HAHAHAHA OHHH poor babies. :grinning:
|
|
|
|
|
Looks like they are too scared to show us a mining address also. They claim you can't tell if coins are freshly minted anyway...... They are fucking morons. All that Josh coming here was to try and salvage because more and more people are cluing into his bullshit. Show me those charts you said you would from a few pages back Josh.
|
|
|
|
|
Oh he is releasing a new hashlet next week, it will change mining forever it will be the most profitable miner, looks like original hashlets have become "obsolete" and he will be offering an upgrade path to this new one. Zens will have priority though :grinning:. Opening some store as well with hashlet branded merch. Yadda yadda yadda. All this guy does is introduce new things that never work right on launch or get launched for that matter.
I still want to see those graphs from a few pages back Josh, or you just going to ignore or come up with an excuse on why I can't see them now.
|
|
|
|
|
Not going to show me those charts?
|
|
|
|
Has this thread affected your business? Is that why you are now speaking to us "trolls"?
Honestly? I could show you charts that suggest the more activity there is in this forum, the more users we get. I think its because many of the users try to hard, to the point it make people curious. I am addressing it because it was brought to my attention that there were some users from HT attempting to answer questions here. I did not feel it was appropriate to let them do that on their own. Additionally, after reading through a few comments. It became clear there there are two very different kinds of posters here. There are some that only have the agenda of being a problem. But, there are some that have legitimate reasons to be upset, and deserve to be addressed. For example, I have already discovered two users that were banned in error. Show me the charts. |
|
|
|
|
Has this thread affected your business? Is that why you are now speaking to us "trolls"?
|
|
|
|
With thousands of streams I also mean any "payments" coming in. A friend of mine who I referred got a free Genesis 10Gh/s and bought another one. That 0,018 BTC is inflow for GAW. They don't collect all those bits and pieces until they need 475 Gh/s extra and order 1 Ant S3 (for example).
According to the latest CCN advertisement, they should be getting thousands of BTC per day in new purchases that can immediately be spent on hardware. If they for example are pointing their mining income to a cold wallet address it could just stack up there and be spent on new hardware once BTC goes up a bit. With low rates it makes no sense to convert BTC to USD and into hardware. Waiting for BTC to raise 10% in value will give you 10% more mining speed for the same BTC.
If all streams coming in are big enough to fund the outflow in payments and withdrawals, then yes, effectively newcomers pay the income for older clients. Difference in that sense with a ponzi is that there is the actual mining result that's flowing into the cold wallet. So by itself having "payments in" being used for "payouts to other clients" isn't by default a bad thing.
Yes, they technically could have a secret mining address but I find it incredibly unlikely. I would say it is definitely by default a bad thing that they are using new customer payments to payout "mining earnings". (i.e. mimicking a ponzi scheme) Why can't they payout from actual mining earnings? Why can't they disclose their mining address? What benefit does it provide them to mimic a ponzi scheme? Might be a very good reason from a bookkeeping perspective. If they'd rent out hash power in USD instead of BTC (or payments through CC in USD) they would have 0 reason to start converting back and forth. They've probably bought a lot of BTC with USD when it hit the bottom a few weeks back. It's not that they try to mimic a ponzi scheme, if they had 3 bank accounts they could still pay you out from the same where you paid to. From a "bookkeeping perspective" they've made their system several times more complicated than other companies who just payout directly from their mining address. The currency people used for payment is irrelevant because it should not be used to payout mining earnings. At any given time GAW has X hashrate that produces Y BTC for customers daily. They should be able to pay out Y BTC daily without ever touching new customer payments. It's much harder to try to allocate Y BTC daily from new customer payments. A ponzi scheme defined as: "a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator." So they are without a doubt mimicking a ponzi scheme. If anyone can come up with a logical reason why it might be beneficial for GAW to payout "mining earnings" from new customer payments instead of from actual mining earnings, I will reward you with 1000 jimmothypoints. (keep in mind it has to outweigh the downside of looking like a ponzi) My analyst predicts 1 jimmothypoint will be worth $50 :grinning: |
|
|
|
And this is the piece of the puzzle that allows it to all make sense now! |
|
|
|
|
The troll FUD guide is the start of the implosion on hashtalk. They will all work themselves into a state that anyone who doesn't agree is a troll, and I mean about anything. They will start to downvote, then the downvoted will downvote randoms out of angst. They will become paranoid that outsiders have set up downvote bots.
|
|
|
|
|
If I was a big investor my first request to Josh would be that he learn to spell. :grinning:
|
|
|
|
|
