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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 25, 2015, 03:03:37 PM
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I don't see the problem. I do hope it works out for them. It would be neat to have a debit card that pulls directly from a crypto account without going through a prepaid visa. As I said, I'm not a believer, so I'm not buying any XPY over it, but it sure would be great if it happened.
The problem is that this is an empty pre-announcement about a supposed verbal areement and you are helping build hype so the faithful will get exited and put up Buy Bids and allow Homero to continue his scam. This is exactly what is happening on Cryptsy right now, so when the dump comes take pleasure in the fact that you personally helped Homero rip off more money from these poor fools. I see your point. I probably shouldn't have posted over there. I just thought it would be kind of cool if it happened, and I thought I'd be more likely get some extensions of the speculation over on HT than here. I did preface the thought by saying that I'm not a believer, and I'm not putting any money into it, but I can see how that could be skimmed over. Edit: I deleted the posts. You're right that it sounded like hype. |
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 25, 2015, 01:37:53 PM
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I love how in that Hashtalk thread people have no idea what freaking Mastercard is.
Mastercard doesn't issue credit cards. Mastercard doesn't issue debit cards. Mastercard processes payments, but a debit/credit card has to be issued by a financial institution.
It's sounding like Paybase will be issuing debit cards that will automatically sell XPY for USD to cover any purchases. For them to not be a bank or credit union and have a deal with Mastercard to directly process payments actually sounds like a big deal. All of the "bitcoin debit cards" are basically prepaid visas. The closest thing to this is Xapo that does a real-time fill of a pre-paid card when a purchase is made, but if Paybase is dealing with Mastercard directly, this could be a lot less buggy. I honestly don't know if it's been done before. If it is what it sounds like it is, this would count as innovation.
Of course, this is GAWCEO, so it's not good to believe anything until it's actually out in the wild, but this might actually be a big deal.
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404
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 25, 2015, 06:38:50 AM
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I cant believe you guys are getting sucked into Vlad's trolling....... The trollers have become the trolled.  In addition to this, im fairly confidant that Vlad is no longer Vlad and instead he sold his account. Best everyone put him on ignore. Or just take his posts for the satire they are. Thinking that GAW, that produces almost limitless amounts of XPY, is the secret buyer is just the kind of thing an oblivious Hashtalker would hypothesize. He has bold claims that directly contradict his humility in other posts. He has long posts full of math-ish pseudo-calculations that result in incorrect answers. He touts credentials that are contradicted by his lack of knowledge in those fields. And he boasts of successful trading in other markets. The guy's an intentional joke. He's everything a Hashtalker is, exaggerated. |
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405
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 25, 2015, 04:14:00 AM
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It seems like all of Vlad2Vlad's insane conclusions come from his answer to one difficult question:
Who is buying XPY?
V2V, for some unknown reason, assumes it's GAW or Garza or whomever, even though that makes absolutely zero sense.
However, it's a good question. For every sell, there's a buy. Who's buying? Who would want XPY? There can't be that many believers in that honor program (who also can't figure out how bad of a deal it is even if it does happen) to keep the price up above 50 cents for this long, can there?
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408
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 21, 2015, 05:57:14 PM
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Jesus Christ, he claims to have a deal with Mastercard (in addition to shopify and paypal). There is no constraint on this man's lies. He's so shameless. He claims to have sold millions of dollars worth of XPY at the $20 price point. >>>>>>>>>>>>>>>>>>> To answer your question. The $4 per coin was a one time
>>>>>>>>>>>>>>>>>>> deal. We did it to create a long term relationship with=
those we wanted as
>>>>>>>>>>>>>>>>>>> strategic partners.
>>>>>>>>>>>>>>>>>>>
>>>>>>>>>>>>>>>>>>> Paycoin is launching at a $20 public price. In fact, we
>>>>>>>>>>>>>>>>>>> are already selling to early investors at the $20 valua=
tion today (in the
>>>>>>>>>>>>>>>>>>> few million dollar range)
>>>>>>>>>>>>>>>>>>>
>>>>>>>>>>>>>>>>>>> All market information points to a much higher market
>>>>>>>>>>>>>>>>>>> valuation then $20 shortly after the launch.
>>>>>>>>>>>>>>>>>>>
>>>>>>>>>>>>>>>>>>> Keep on mind, when the coin was announced at its price
>>>>>>>>>>>>>>>>>>> of $20, that was before the partnership with shopify, p=
aypal, and the
>>>>>>>>>>>>>>>>>>> financial Partner we just signed a deal with (Mastercar=
d)
>>>>>>>>>>>>>>>>>>>
>>>>>>>>>>>>>>>>>>> So today, 1.5 million coins would cost any investor
>>>>>>>>>>>>>>>>>>> (including myself) 30m. There will never be a scenario =
where there will be
>>>>>>>>>>>>>>>>>>> a discount on coins, the market will dictate the price.
>>>>>>>>>>>>>>>>>>>
>>>>>>>>>>>>>>>>>>> If you invested, your not buying coins. Your pooling
>>>>>>>>>>>>>>>>>>> your money with me and others to "rent" controllers. So=
your buying the
>>>>>>>>>>>>>>>>>>> production of a controller, the "stake".
>>>>>>>>>>>>>>>>>>>
>>>>>>>>>>>>>>>>>>> Think of it almost like a time share on a plane. A
>>>>>>>>>>>>>>>>>>> certain amount of the stake is yours. Then, later, >>> My brother has been working with a large group of high rolling
>>> investors. So less from you may work.
>>>
>>> As soon as the coin hits the exchange, we would not be able to do a
>>> deal. At the point, there is no upside for us, we can just move through=
the
>>> exchanges.
>>>
>>> We will be in the exchanges by the end the month.
>>>
>>> If you want to talk about: 2m in cash, 500k in XPY.
>>>
>>> Let me know |
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 20, 2015, 07:45:01 PM
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GAW was an obvious scam in its cloud mining days. Thats already collapsed but they still limp on with their scam coin. Thats just about finished too.
I completely disagree about it being obvious back then. In fact, I'm still not sure the cloud mining was a scam. He misrepresented what they were, at least in the case of Zen and Prime, but there's no evidence he was trying to cost his customers money. I don't think any fraud entered into it until he started making promises he had no intention of filling and lying about deals and resourses in place regarding his altcoin in an attempt to boost its value. That's when the scam started. Remember, his whole idea from day one was to hook them in with cloud mining, take the loss over doing the mining himself so he would have a customer base for his new product. It totally worked, but the cloud mining was always supposed to make people money. |
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410
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 20, 2015, 07:32:07 AM
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I think that number is wrong. At the time of Hashpoint introduction, after Zenpool payouts crashed you could still get ~0.0002 BTC per MH/s after fees, i.e. 0.07-0.08 USD (BTC was at $350-400 then). Instead you were given 20 HP i.e. 0.05 XPY. So the breakeven point should be 0.07 / 0.05 = $1.40.
I was just quickly estimating in my head, and I went with .0001 BTC per MH/s just from memory, which is probably wrong. I was also assuming that the proceeds were kept in BTC, so I was using BTC current value. (.0001 * 240) / .05 < .5. I definitely trust your estimate of .0002 BTC per MH/s more, as mine was just from recollection. |
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 20, 2015, 05:11:31 AM
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If you bought and held PayCoin at any time before this moment, you have lost money. Only traders have made money playing the market and Josh dumping all his compounding premined Coins.
There's also the weird blip in all of this of the hashpoint conversion. If you have Paycoins from the hashpoint conversion, they're still worth more than if you had "mined" BTC instead of getting hashpoints. I think Paycoins would have to dip below 50 cents for the hashpoint "mining" to have not been worth it. That's still the one part of this that gives me a bit of pause. That hashpoint conversion cost him money, as it released Paycoins into the market depressing the price, and it gave tons of people a way to break even, or even make some profit, at his expense. It's the one thing that makes me think that all of this fraud wasn't really meant to be a scam. That he really thought these lies would lead to everyone making money. Or it could have been a confidence trick. IDK. It still stands out, though. |
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 20, 2015, 03:54:26 AM
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In terms of 0 confirmation spends, 1 minute might as well be 10 minutes might as well be 100 minutes. Your average credit card transaction is on the order of seconds. NO store is going to be willing to wait for a confirmation in either case. This is why coinbase exists, they don't need to wait, the store gets the green light immediately and coinbase takes the risk. As the volume goes up, that fee will go down no doubt. This is also totally separate from sidechain solutions.
This is exactly right. Bitcoin's block rate still has everything settled with very high certainty after a couple of hours. No matter what coin you use, there's going to have to be a third party that charges a fee to assume the transaction risk, and two hours isn't really different from 20 minutes. Although I still contend that a faster block creation rate is more secure, I also understand that it doesn't really matter in normal use because a third party will be assuming the same amount of risk regardless. |
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 19, 2015, 10:49:40 PM
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Given X amount of hashpower and Y difficulty, the time to find a block on average is 10 minutes. The block time is manipulated by adjusting the difficulty, so your statement is incorrect. If you want 1 minute bitcoin blocktimes with the same amount of hashpower that exists today, you must decrease the difficulty by a factor of 10, you can't get around that. So you see, decreasing the time between blocks does nothing, it just decreases the difficulty and thus the security.
So I say again..security of the blockchain given X amount of hashpower is proportional to time, not blocks.
Your belief is a common misconception.
Higher block frequency should make the network more secure because, basically, there's more "samples" so the appropriate winner wins more quickly. It's easier for someone with, say, 30% of the hashpower on the network to get lucky a couple of times than to get lucky 20 times. Higher block frequency means less time with the rebel chain in power because things will regulate more quickly. Higher frequency should also make a 51% attack more effective, but the network's kind of screwed then, anyway. |
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 19, 2015, 08:47:06 PM
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You don't know what you are talking about. Faster blocks doesn't mean anything. If bitcoin forked to 1 minute block times, then a transaction with 10 confirmations would be just as secure as one with one confirmation how it is now. It's not the number of confirmations, its TIME.
That's not true. Each block race is a discrete event, so the chance of a specific miner beating the world to a set of, say, six blocks in a row should be roughly the same regardless of the time between blocks. Difficulty might change the curve a little, but, for the most part, it's the chance of winning a set of races cumulatively that matters. |
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 18, 2015, 03:21:01 PM
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Cantor Fitzgerald has nothing to do with this. If one of my partners goes out and, say, robs someone on his own time not using any facilities or resources of our partnership, neither myself nor our partnership has anything to do with the robbery.
Now, it doesn't look good that the partners of Cantor Fitzgerald are in business with someone who's either gullible, dim, or scummy (probably the former), but it has nothing to do with that completely unrelated partnership.
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Economy / Service Discussion / Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
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on: February 18, 2015, 01:03:26 PM
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For all intensive purposes For all intents and purposes, we all know how who is still running the show from behind the curtain. Likewise, I do not see someone like Jonah and his already demonstrated limited capacity doing much, if anything, to better the situation. But that is just my position on the subject.
Scott-
Holy fuck, did you really just say "for all intensive purposes"? Your position on the subject is as helpful as your demonstrated limited capacity. Go read some books instead of forum threads and learn yourself some vocabulary. Fuck GAW but fuck FUDders even more. Yes, it's an eggcorn "for every practical sense" that some of us use more often than we should in speeches and written form. I never claimed to be perfect so it is what it is. Here, I'll be proper and correct it... K? Sheesh... some noobs~  Scott- See, you should have just played it like you meant to do it. Jonah can handle the day-to-day stuff, but for all of the focused efforts and other intensive purposes, we know who's really calling the shots. |
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