Yeah, that's pretty damning. So who was the CTO to this guy? A roommate? A friend? A stranger?

Next task for this thread: What's the CTO's real name?

The other buy->manage could possibly be a typo, but this one is a clear lie that was changed long after it was posted.

https://archive.today/xYUdX
https://hashtalk.org/topic/24303/paybase-verifications


"Paybase will purchase Paycoins for $20 each." -> "Paybase will use its resources to manage to $20 each."

His first statement was clear, but his edit makes no sense. Most importantly, the edit happened a week after the original post and is the same edit he used on the other guarantee post.

This post was kind of a big deal, the first true guarantee. Turns out it was a lie. If there was $100 million, he could buy every paycoin for sale without exhausting the fund.

The only motive he could have had in making those posts was a belief that if he claimed to have that kind of money and presented a minimal effort to support a floor, the belief in the floor would be enough to sustain it. What he overlooked is that there is no reason anyone wants to keep paycoin. It's not like the original advantages described in the whitepaper actually exist. It's useless, so there's no reason to hang on to it if the price gets close to $20. So that one big push to $20 lasted under two minutes, because who wouldn't sell into it? Why keep the coin at that price?

This CSS thing is fun. I'm able to do it without a paybase account.

Okay, so the $20 promise is toast, so why are there still people holding XPY? The price is still high enough to get a great return for anyone who mined HP with his hashlets. Why are people still buying XPY? It's beyond obvious that the $20 floor doesn't exist. The tiered transaction confirmation doesn't exist. The compressed blockchain doesn't exist. This coin has nothing now, but the price is still high enough to give a great return.

I would say this is the last chance for people to exit, but I thought the last chance was when I exited at about the same level, so who knows how long this opportunity to take profits will last?

Well, he claims that he'll pay on the @PinkPoodle bet, which is at least an admission. We'll see.

Still getting "You will be able to create your PayBase account soon. Please check back later."

GAWLOL

So, for giggles, I visited Paybase at 11:30 Pacific Time.

That vaunted price ticker?

"Price: $ 0.00 USD"

The price is around .0304 right now.

Who on earth is buying? With no instant transactions and no effective price support, what gives this coin value? Who wants it? Why does anyone want it?

This has to be the nail in the coffin for PayCoin. I was really hoping that they had enough for real price support. They don't. It's over.

Awesome. I just like to keep it real. I'm glad things have been so successful so far.

Oh, boy. Here it is.

https://hashtalk.org/topic/25650

Are your profits still in Paycoin, or do you have more BTC/Dollars than you started with?

They're saying nothing because they don't exist.

Are you threatening him?

At this point, it's clear that there will be something else that keeps people from selling for $20.

My guess: People can sell Paycoin for BTC, but only up to a certain amount before they have all of the Paycoin they "need" as a "reserve."

Real Talk: They don't have enough money to support the floor. They thought they could get away with much less actual money behind it just by creating a demand that builds on itself. That didn't happen, so they're in a bad spot.

So what was that crap about needing verifications? He claimed that they were required by law. Until now. Now you can sell XPY for BTC with no verifications just like a dozen other exchanges.

What changed?

No, unless you pay him for the advice. Anyone can give anyone else any free investment advice that he wants.

It's pretty sketchy, though.

Only if you did it through futures, which is what people have done with the silver and copper markets in the past. If you're dealing in physical gold or physical oil, not futures contracts or ETF shares, I don't believe there's anything illegal about it.

It's not a silly question, BTW.

These aren't securities. FINRA has no purview here. If he's dumping (which is unlikely), the morality is questionable, but I fail to see how it's illegal.

How is that illegal in this case?