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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 21, 2015, 07:00:11 PM
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About the question who knew what: I have deleted the email dump, but while I was skimming it, I did see an email in -- August? if not August, then late July or early Sept. -- from Josh Garza to Joe Mordica, with the subject line 'Dan Pease'. In it, Garza basically says: whoa, did you actually tell Dan Pease how our "mining" works? [Scare quotes mine, of course.] Mordica says: yes, he said you wanted me to. Garza says: well, yes, I wanted you to fill him in a bit, but not *that* much. Do NOT do that again!
Since Dan Pease was pretty heavily involved, the idea that he didn't know that the mining was virtual, and that Garza was horrified to learn that he'd been told, says a lot. On the other hand, what it does not say is that Joe Mordica didn't know.
I believe that was Capuano, not Mordica, IIRC. |
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 21, 2015, 06:31:14 PM
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It looks like there were three "phases":
1) "hosted" miners were actually not hosted by GAW but rented hashrate somewhere in China, and it was unreliable (April-July 2014)
2) which led to getting rid of mining altogether (ZenCloud and later Hashlets, July 2014 - January 2015)
3) then hardware was ordered from Bitmain, so presumably some fractional mining was going on (October 2014 - January 2015)
I'd love to see jmordica's comments on this as he seems to have been part of the whole thing from the early Gridseeds to the unpaid MS Power bills.
I don't think there's much evidence the hosted miners were virtual until June 2014. In June, there are statements about transitioning hardware and actually still selling hosted hardware that's real. I BOLDLY SPECULATE the hosting was legit for April and May 2014. |
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184
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 21, 2015, 06:15:02 PM
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Mordica and Capuano 100% knew that "hosted miners" didn't exist and were part and parcel to the conning of consumers. And they kept it up for months while the lies got bigger and bigger. They're not clean, and the leaked correspondence makes that clear. Capuano gets some respect for owning up to it, even going so far as to contradict the guys who are trying to give him a pass. Hopefully, not much will happen to him, as it really seems like he's not much of a risk for doing something like this again.
I'm still looking forward to the day the story comes out describing how this all started. When did "hosted miners" become virtual? Who's idea was it? How did multiple people think that that was okay?
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185
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 21, 2015, 12:58:45 PM
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I haven't seen any emails from the lawyers that were even unethical, let alone illegal. Could somebody point out an example of the issue?
The only legit way to change XPY for the better, IMO, is to remove the whole concept of Prime Controller. In the original white paper, they were a nifty concept, but they serve absolutely no purpose in the actual implementation except to make a few people money at the expense of the masses. You can leave all of the existent coins where they are; eventually that will work itself out considering how much GAW sells. Just take away the 100% staking. They should be ordinary wallets since they do nothing special for transactions.
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187
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 21, 2015, 03:13:24 AM
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So because GAW never established any checks and balances, any corporate polices on behavior everyone got to do what ever they liked. Customer Support did not exist because there was no policy for it. It was up to the individual support rep to decide how they treat a customer unless they are told by management to fuck em.
Well, they were able to sniff out that taylan unal employee that stole from them, so that's some kind of oversight, at least. |
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 20, 2015, 07:23:05 PM
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Those are huge numbers for Zeus hardware (~40-50W per MH/s) plus some other assorted miners, so that's nearly a megawatt... 2-3 months before MS Power installed those transformers. My guess would be that the A2s, Gridseeds, Ants might be real, others - doubtful. Maybe some of them.
Just 5 pages to go.
Blades are virtual at that point. There's an email from a couple of days earlier that's explicit. It's hinted in the emails that A2s are a mix. |
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192
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 20, 2015, 03:13:14 PM
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Who needs reports and shit when you have a few hundred thousand dollars a day coming in as revenue for a product that has virtually zero overhead?
It has overhead. To wit: From: "Jeff Parker" <cowboy@geniusesatwork.com>
To: "'Josh Garza'" <josh@gaw.com>
References: <CAFupydq7ich99MCL6s2K6gq8dCTt77+3TFatr3SZcV9-Fbe0vQ@mail.gmail.com> <010801cf9209$080a7de0$181f79a0$@geniusesatwork.com> <CAFupydomrg6=2Qy0H9bX8ZScSSYwp9sag=mBOtCV7vdWShQvFQ@mail.gmail.com>
In-Reply-To: <CAFupydomrg6=2Qy0H9bX8ZScSSYwp9sag=mBOtCV7vdWShQvFQ@mail.gmail.com>
Subject: RE: More issues
Date: Fri, 27 Jun 2014 09:18:15 -0400
Message-ID: <011a01cf920a$41b939e0$c52bada0$@geniusesatwork.com>
MIME-Version: 1.0
X-Mailer: Microsoft Outlook 15.0
Thread-Index: AQF2laQ/EOtnoLHFvdxt4stbbagBTAJ5wSvjAaUQvWCcFfI3gA==
X-Original-Sender: cowboy@geniusesatwork.com
X-Original-Authentication-Results: mx.google.com; spf=neutral
(google.com: cowboy@geniusesatwork.com does not designate permitted sender
hosts) smtp.mail=cowboy@geniusesatwork.com
Precedence: list
Mailing-list: list josh@gaw.com; contact josh+owners@gaw.com
List-ID: <josh.gaw.com>
X-Google-Group-Id: 2220869181
List-Help: <http://support.google.com/a/gaw.com/bin/topic.py&topic=25838>, <mailto:josh+help@gaw.com>
Content-Type: multipart/alternative;
boundary="----=_NextPart_000_011B_01CF91E8.BAA88440"
Content-Language: en-us
This is a multipart message in MIME format.
------=_NextPart_000_011B_01CF91E8.BAA88440
Content-Type: text/plain; charset=UTF-8
Content-Transfer-Encoding: quoted-printable
It=E2=80=99s all the little bits left over and all the non-virtual devices.
=20
A device needs some padding, it never adds up perfectly. But you did just g=
ive me a great idea. I can reduce the padding a bit to increase the perform=
ance
=20
=20
From: josh@geniusesatwork.com [mailto:josh@geniusesatwork.com] On Behalf Of=
Josh Garza
Sent: Friday, June 27, 2014 9:16 AM
To: Jeff Parker
Subject: Re: More issues
=20
How do we have 500 mh mining to our own pools if we have no head room?
=20
https://nicehash.com/?p=3Dminers <https://nicehash.com/?p=3Dminers&a=3D0&ad=
dr=3D1BNFXMZ7c3JJpqGkuSZGFY2ocsm1H42f3a> &a=3D0&addr=3D1BNFXMZ7c3JJpqGkuSZG=
FY2ocsm1H42f3a
On Friday, June 27, 2014, Jeff Parker <cowboy@geniusesatwork.com <mailto:co=
wboy@geniusesatwork.com> > wrote:
We don=E2=80=99t have the headroom to make this work.
We can put up more boxes, or take down some provisions.
=20
I can=E2=80=99t write code to make more hash when we are at max cap.
=20
From: josh@geniusesatwork.com <javascript:_e(%7B%7D,'cvml','josh@geniusesat=
work.com');> [mailto:josh@geniusesatwork.com <javascript:_e(%7B%7D,'cvml',=
'josh@geniusesatwork.com');> ] On Behalf Of Josh Garza
Sent: Friday, June 27, 2014 9:08 AM
To: Joe Mordica; Jeff Parker
Subject: More issues
=20
https://hashtrader.com/t/whats-your-hash-rate-speed-for-non-hosted-black-wi=
dow/1437/15?u=3Dgaw_ceo
--=20
Sent from Gmail Mobile
I mean, they had to have some kind of operations to support their payouts, even with the "maintenance" and "hosting" fees. Their sales weren't enough to support their expenses and FULL PONZI. |
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 20, 2015, 12:59:57 PM
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It also possibly shows that he was reluctant to sound the alarms when he didn't get the proper response from Josh. It isn't clear what his reasons were for that.
I was under the illusion my NDA was actually enforceable, it wasnt until later when I learned that it wasnt (I am in the UK and not 100% conversant with US Law) that I contacted the SEC An NDA is never enforceable when you are in your right mind and suspect clear fraud. NDA's are only enforceable for trade secrets however if the secrets involve fraud then it means nothing. Yeah, but they can fight it in court and break you with legal fees. Sure, if you're able to hold out through the entire process, you'll eventually get your attorneys' fees back, but you still have a mortgage to pay and kids to feed in the interim, which could be a couple of years. NDAs are more valuable as intimidators than actual enforceable documents. This is especially true internationally, and it's a pain in the butt trying to get a functional NDA together for someone in Canada; I can't imagine how hard it is to get something enforceable in place for Europe. |
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 20, 2015, 12:54:35 PM
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Whatever these numbers at this date means to anyone Subject: wow Date: Sun, 20 Jul 2014 00:11:54 -0500 From: Joe Mordica < joe@gawlabs.com> To: Josh Garza < josh@geniusesatwork.com> zencloud hosting: Scrypt 14525.130 MH SHA256 25615.200 GH 370 'Fury' 199 'Black Widow' 261 'Falcon' 52 'War Machine' 35 'Gridseed Blade' 3 'Gridseed G-Black' 21 'Antminer A1' 48 'RockMiner R-Box' 6 'ANTMINER S3 ' 7 '10-Pack Gridseed Orb' 15 'Innosilicon A2' Well, it's from Jul 20, which, IIRC, which means at least the Blades are virtual, and they're still probably transitioning the others. This is before they forced the GAW hosted miners to move to Zencloud, so this is probably a fraction of all hosted miners, only the most recent. |
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 19, 2015, 04:47:42 PM
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* Small error about Josh starting out legit. Josh made his plans crystal clear before he started GAWminers. Get people hooked in and build trust with legit hardware sales, and then hold back hardware deliveries and switch to "virtual mining"- aka pure Ponzi mode. The whole thing was planned from day -1. Paycoin was cooked up after the Hashlet Ponzi began to crash last fall.
Fair point. I can see how it could be legit to start with the intention of scamming everyone in the medium-term. |
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197
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 19, 2015, 04:35:45 PM
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The great thing about the email dump is that it starts back when I'm almost 100% certain GAW Miners was a legit company. They actually hosted physical miners that people bought. They dropshipped, sure, but they were upfront about it. There was a little C&D bullying, but nothing like what came later.
Garza looked like he tried to be a good CEO, too. He was pissed when he got word of customer service fails in his company. He educated his executives. He had something called a business plan.
Then, they decided to make the hosted miners virtual. He just took that and owned being a scammer. Suddenly, the emails are about bullying people or guilting people into shutting up or dropping claims. He started cutting pay and overpromising equity. It's like once they decided to lie to their customers, all bets were off, and everything became part of a game to extract as much value from everyone as possible.
He's just an amazing character. He deserves a biopic more than an episode of American Greed. He got so brazen so quickly, and he's been able to maintain it for so long, that this scam deserves a place in scam history.
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198
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 19, 2015, 03:59:20 PM
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I just figured out that almost all of the valuable information in the emails is in PDF form. Corporate structure (operating structure and functional structure), payroll, retainer letters, invoices, building plans, settlement agreements, all sorts of stuff. I might have to find some mbox importer that will decode the PDFs on the fly for me. I've been doing everything by hand, and that's kind of a pain when it comes to decoding base64 PDFs.
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200
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Economy / Service Discussion / Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
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on: April 19, 2015, 01:59:24 PM
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What's striking is how low these salaries are across the board. Especially with the other numbers we've seen. Unless there's some massive crypto payments going on or some large bonuses (either of which might be true for Capuano or Mordica), this is really just a vehicle to make Josh rich.
There was one email a while back that articulated BTC payments to a few of the principals. Anyone have that? It might give us a window into total compensation.
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