Just out of curiosity, how would you remove XPY's premine? If you fork and kill the coins, that causes a world of problems, because some those coins have been sent to an exchange, and that exchange probably sent those coins out to completely unrelated people doing withdrawals, and those people doing withdrawals transacted with those coins, etc., so, really, anyone anywhere who didn't mine his own coin could be hit with that. What would the mechanics of eliminating a premine look like?

I think the confusion comes from you calling it a Ponzi for marketing purposes, as bass ackwards as that sounds, when it's really not a Ponzi. Anywhere I've seen a Ponzi scheme defined by regulatory agency, it requires fraud. If you're upfront about everything, there's no fraud, and it's not a Ponzi. It's just gambling.

I want them to be legit. It would be fantastic if they busted out tomorrow with, "Here's the $20 buyback. No strings. And here's a new version of the coin with compressed blockchain and processing tiers. And here are the details of how you can use Paycoin at amazon.com. Also, here you can sign up for a card that can be used anywhere Paypal can be used, like Dollar General and Home Depot. Oh, and we're turning back on mining for each hashlet until we can sell the machine behind it, at which time we'll pay you a portion of the proceeds commensurate with the size of your hashlet."

I think that's pretty much it. Actually, if they just came up with a way to use Paycoin at stores for $20 each, I'd call them not a scam. I think that would be enough.

I've been wondering about this. If you're being investigated for selling unregistered securites, wouldn't you do your best to avoid making hashlets look like securities? Part of that would be, when a miner is sold, assigning a group of hashlets to that miner and paying the hashlet owners for the sale of the hardware. They could charge high fees for brokering the sale, such that the payment is miniscule, but it would at least show a connection between a hashlet and actual hardware.

Uh-oh, ISIS indirectly doxxed Coin Brief. Fucking ISIS.

If it were a month ago, I'd say he should be worried about HT crazies, but I don't know if there are many of them left. I don't think the ones who are left are as passionate as the members of a few weeks ago.

Because more people can be roped in by this scam in the meantime.

Also, some of this evidence might never have reached the SEC.

Not necessarily. He could have archived that communication someplace different. And there might have been emails in the larger archive that's no longer available.

Don't get me wrong, it's total BS, but even if it were true I wouldn't necessarily expect to see anything about it in an inbox snapshot.

No, look at the date on the "10 days" email. The 10 days is up tomorrow.

Oh, it's better than that. If you read the whole chain, the next payment is due ... tomorrow.

And I LOVE the "accountant in the hospital for three weeks and the dog ate my homework" crap.

Just because GAW/Paybase/BTC is hurting for cash doesn't mean Garza is. Even if he can't pay himself his $29,000 pound of flesh one month (which I doubt), he's not losing all he was paid before. His Tesla's not being repoed.

Biggest shock:

Craig actually exists.

Oh, but we did. That's kind of the point. At least the ZenPool "mining" involved market activites, which means we were getting a share of capital gains.

"Mining" ZenPool was a form of investment. That's why it was illegal.

I haven't looked through the whole archive, but it seems like there might have been actual mining to back up the hashlets. It's possible that the non-Zen hashlet solos were legit, and that all hashlets were above board.

People who later fled the company or refused to do anything unethical were involved in this stage of the business. It's still possible this didn't turn into fraud until Paycoin.

This is amazing. It's a detailed, inside look at the mechanics of a scam. Even public record court cases rarely have this much documentation, and this scam is still going on.

Beautiful work, hacker(s). Someone could write a master's thesis with the primary source material you've provided. It answers every question I usually have when watching something like American Greed. "How exactly did X occur? What were the mechanics of it?"

Now we know. We know all of the mechanics.

Yeah, the way he volunteered his name out of the blue was a bit sketchy. I'd definitely go with Sejena Hope over Austin Lamm.

I don't think that's knowable. It's hard to determine which movements of pre-mine are distributions (to investors, hashpoint conversions, or exchange sales) and which are just moving coins among GAW's wallets.

He's said too much. Banned in 3 . . . 2 . . . 1 . . .

That's 99.96%. It rounds up such that it could even be considered 100.0%

It's almost an entire page of one poster being ignored.

Wait, so if they're "taking over" the coin, maybe they should release a version that eliminates the currency-destroying hyperinflating superstakers.