Hmm new to this thread can someone summarize all the proof about the accusations I see about GAW. thanks in advance.
I skimmed all the posts and it was mostly Y repeating Z's comment and belief that GAW is a ponzi, or scam for the logical extrapolation that most coins before xpy were scams or ponzi.
If anyone is so inclined to post a reply with links or proof beyond some blog report or personal experience that they of course have no screenshots, emails etc for I would be grateful.
I think a list of all the proof would be more helpful then X,Y or Z posts filled with saving the day comments with no substance.
Waiting... and thank you.
Hey man thanks for you joining us. If we had absolute proof of a ponzi we would already have called the SEC. You are welcome to help us find the truth together though! Fair enough and an excellent reply. This type of reply will at least not make me dismiss you out of hand. I understand what you are saying though about if there was anything of actual proof it would already be with the authorities. Was just trying to head it off and see if anyone had some. That way I could pull back my investments even more as by the time it is officially in law enforcements hands it is probably too late. Still I feel good about my investment in GAW as they have treated me very well up until now and I have double my original investment locked away safe. But to be clear that does not take away from people's concerns here going forward, just stating my situation. Again looking forward to a summary maybe towards the bottom of this now 447 post thread of any proof. Thanks again for the welcome and civil response. Ah, do pay attention to the warning signs that they may not know what they're doing, such as paycoin having been down all day! How much money do you have invested there around if you don't mind my asking? I would argue while not very professional and not a good situation being down today does not equate a ponzi or scam. Regarding your inquiry to how much I ave invested? I think that is a little personal but like I said I made over double my money. Double the original is in the bank.. and more then double the original is still in. But I do continually scale down pretty much daily as it climbs. I hope that is a satisfactory answer to your question. If you knew it was a ponzi would you be okay with making all that money? Did you know the law states you can lose the gains from a ponzi? Did you know just because you made a big profit that doesn't mean it's not a ponzi right? Just that you got in early. Later investors will end up the bagholders. Look at the red flags of a ponzi: What are some Ponzi scheme "red flags"? Many Ponzi schemes share common characteristics. Look for these warning signs: High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity. Look at your stakers? 1% ROI per day seem a little high no? And notice apparently there's no worry of getting less or losing your investment. Where is gaw stating the risk? Do you even know what the risk is? CHECK.Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions. Again there's no sign that cashtakers return will be lower for any reason. GAWCEO stated a stake rate, he didn't say it would vary at all. CHECKUnregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances. Gaw is completely unlicensed with SEC or any other fed agency that we know of. They aren't even registered as a MSB even though they are requiring KYC data from customers. This is suspected to be just a stalling tactic to prevent a run on the bank anyway. CHECKUnlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms. Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb. Notice how you can't find any straight info on anything about paycoin on the site? That is actually purposeful. They want customers to remain in a cloud of the unknown. Much easier to change the rules later as they desire if needed. And they actually change the rules all the time. CHECKIssues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised. I see the numerous technical problems and failure to live up to their promises as a sign of this. If they were living up to their promises, we wouldn't be here right now. [CHECK]Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over. Problems with withdrawls at times. Mysterious security issues resulting in stolen BTC so everyone's account is frozen. Announcing paybase will carefully restrict flow of XPY to BTC and $$$. [CHECK]
Therefore GAW has checked off every single warning box that the federal government provided in determining if an investment may be a ponzi scheme. Now you should read this thread and decide for yourself.
http://www.sec.gov/answers/ponzi.htm
See now this is a great attempt at proving the ponzi side of the argument! Thank you very much for the time and effort.. Now for the sake of not making this post equally as long I only see one bullet point I can see as proof of underhanded practices. That is the lack of filed paperwork. The rest of the points to me, while they should be considered in everyone individual risk/reward assessments, are not again proof of fraud. But quickly back to the supposed lack of paperwork ( which I will just take your word for as I would not be an expert on searching for this and reporting the existence or nonexistence ). Do most crypto companies have all this paperwork done you think? Beyond Coinbase and maybe bitpay? ( Again I just will assume they have the exact same forms etc filed that people are saying GAW does not. ) Yes, any company based in the US that does what paybase will do has this paperwork. They are flat out breaking the law collecting KYC info without being a MSB. This has been stated many times in this thread by many people in the know. |
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Regarding Cnn, CCN. I am sorry did Josh ever say CNN? I am not being sarcastic, I am asking.
I also don't like the site itself CCN as of course they picked the name to throw people off some, but like any blog I read it with a grain of salt. Sadly with today's big media quality I would argue they are no worse then CNN, Wallstreet etc as most media reports for headlines and page views not for content and investigative reporting.
Update: All interviews are done ( CNN, WSJ, Fortune Magazine, Venture). They do not tell us specific dates and times (for whatever reason) so now we wait. I should know they day it goes out. Personally, I think the first one will be the WSJ. We will definitely see some Monday  https://hashtalk.org/topic/18452/hashcoin-ico-media-tour-updateSee now that is helpful and I don't doubt the validity. This could be used as some of the proof people pretend to have. This could be entry one. Just you will need to take it down later if those articles do come out in the future. It's been more than a month now and all we've seen is a bunch of paid-to-spam press releases and a variety of interviews with bloggers. People don't pretend to have proof, it's just most people don't feel like digging through 400 pages to find it. Actually I don't think this would hold up in a court of law much less the court of public opinion as proof that gaw is a complete scam However, I will not invalidate it like I didn't in my post above. I said this can be point one in a nice summary of all the proof people claim to have. I find however when mob mentality rules and people just repeat things they delude themselves into thinking something that is just not based in fact at all. I would imagine that with the passion I see here by some they would be able to quickly summarize all the proof to help the community and new readers to this thread. After all isn't the point of this thread to educate and help people be warned of the evil GAW empire with more then just repeating the gate fueled rantings that just get repeated? I say a ummary with all the proof starting with that quote would be a good start and go further to saving everyone from themselves then rantings. I look forward to more constructive posts and proof. Heck if even the most passionate posters here can't start a summary of proof against GAW I can do it for them. However atm my list would be quite small. Anyone want to add to the list of proof? Once again, thanks in advance. Sounds like you are volunteering! Please read the entire thread and have a complete list of proofs for us. We'll put in on a sticky some where. Otherwise you'll just have to read the thread and decide things for yourself! |
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Hmm new to this thread can someone summarize all the proof about the accusations I see about GAW. thanks in advance.
I skimmed all the posts and it was mostly Y repeating Z's comment and belief that GAW is a ponzi, or scam for the logical extrapolation that most coins before xpy were scams or ponzi.
If anyone is so inclined to post a reply with links or proof beyond some blog report or personal experience that they of course have no screenshots, emails etc for I would be grateful.
I think a list of all the proof would be more helpful then X,Y or Z posts filled with saving the day comments with no substance.
Waiting... and thank you.
Hey man thanks for you joining us. If we had absolute proof of a ponzi we would already have called the SEC. You are welcome to help us find the truth together though! Fair enough and an excellent reply. This type of reply will at least not make me dismiss you out of hand. I understand what you are saying though about if there was anything of actual proof it would already be with the authorities. Was just trying to head it off and see if anyone had some. That way I could pull back my investments even more as by the time it is officially in law enforcements hands it is probably too late. Still I feel good about my investment in GAW as they have treated me very well up until now and I have double my original investment locked away safe. But to be clear that does not take away from people's concerns here going forward, just stating my situation. Again looking forward to a summary maybe towards the bottom of this now 447 post thread of any proof. Thanks again for the welcome and civil response. Ah, do pay attention to the warning signs that they may not know what they're doing, such as paycoin having been down all day! How much money do you have invested there around if you don't mind my asking? I would argue while not very professional and not a good situation being down today does not equate a ponzi or scam. Regarding your inquiry to how much I ave invested? I think that is a little personal but like I said I made over double my money. Double the original is in the bank.. and more then double the original is still in. But I do continually scale down pretty much daily as it climbs. I hope that is a satisfactory answer to your question. If you knew it was a ponzi would you be okay with making all that money? Did you know the law states you can lose the gains from a ponzi? Did you know just because you made a big profit that doesn't mean it's not a ponzi right? Just that you got in early. Later investors will end up the bagholders. Look at the red flags of a ponzi: What are some Ponzi scheme "red flags"? Many Ponzi schemes share common characteristics. Look for these warning signs: High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity. Look at your stakers? 1% ROI per day seem a little high no? And notice apparently there's no worry of getting less or losing your investment. Where is gaw stating the risk? Do you even know what the risk is? CHECK.Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions. Again there's no sign that cashtakers return will be lower for any reason. GAWCEO stated a stake rate, he didn't say it would vary at all. CHECKUnregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances. Gaw is completely unlicensed with SEC or any other fed agency that we know of. They aren't even registered as a MSB even though they are requiring KYC data from customers. This is suspected to be just a stalling tactic to prevent a run on the bank anyway. CHECKUnlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms. Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb. Notice how you can't find any straight info on anything about paycoin on the site? That is actually purposeful. They want customers to remain in a cloud of the unknown. Much easier to change the rules later as they desire if needed. And they actually change the rules all the time. CHECKIssues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised. I see the numerous technical problems and failure to live up to their promises as a sign of this. If they were living up to their promises, we wouldn't be here right now. [CHECK]Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over. Problems with withdrawls at times. Mysterious security issues resulting in stolen BTC so everyone's account is frozen. Announcing paybase will carefully restrict flow of XPY to BTC and $$$. Everyone is encouraged to reinvest and usually do. [CHECK]
Therefore GAW has checked off every single warning box that the federal government provided in determining if an investment may be a ponzi scheme. Now you should read this thread and decide for yourself.
http://www.sec.gov/answers/ponzi.htm
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Anyone have the link to the eightcylinder's summary of gaw's history post? That's a great intro to gaw for any new readers here.
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Hmm new to this thread can someone summarize all the proof about the accusations I see about GAW. thanks in advance.
I skimmed all the posts and it was mostly Y repeating Z's comment and belief that GAW is a ponzi, or scam for the logical extrapolation that most coins before xpy were scams or ponzi.
If anyone is so inclined to post a reply with links or proof beyond some blog report or personal experience that they of course have no screenshots, emails etc for I would be grateful.
I think a list of all the proof would be more helpful then X,Y or Z posts filled with saving the day comments with no substance.
Waiting... and thank you.
Hey man thanks for you joining us. If we had absolute proof of a ponzi we would already have called the SEC. You are welcome to help us find the truth together though! Fair enough and an excellent reply. This type of reply will at least not make me dismiss you out of hand. I understand what you are saying though about if there was anything of actual proof it would already be with the authorities. Was just trying to head it off and see if anyone had some. That way I could pull back my investments even more as by the time it is officially in law enforcements hands it is probably too late. Still I feel good about my investment in GAW as they have treated me very well up until now and I have double my original investment locked away safe. But to be clear that does not take away from people's concerns here going forward, just stating my situation. Again looking forward to a summary maybe towards the bottom of this now 447 post thread of any proof. Thanks again for the welcome and civil response. Ah, do pay attention to the warning signs that they may not know what they're doing, such as paycoin having been down all day! How much money do you have invested there around if you don't mind my asking? |
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Hmm new to this thread can someone summarize all the proof about the accusations I see about GAW. thanks in advance.
I skimmed all the posts and it was mostly Y repeating Z's comment and belief that GAW is a ponzi, or scam for the logical extrapolation that most coins before xpy were scams or ponzi.
If anyone is so inclined to post a reply with links or proof beyond some blog report or personal experience that they of course have no screenshots, emails etc for I would be grateful.
I think a list of all the proof would be more helpful then X,Y or Z posts filled with saving the day comments with no substance.
Waiting... and thank you.
Hey man thanks for you joining us. If we had absolute proof of a ponzi we would already have called the SEC. You are welcome to help us find the truth together though! |
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BREAKING: Paycoin TOO Innovative
Unfortunately, Intel could not handle Paycoin. The latest Xeons could not process the Hybridflex, Orion, or Prime controllers upon final testing. AMD, ARM and Nvidia were also not viable.
This means we have had to temporarily suspend paycoin pending a new 128 bit processor. CNN has stated they have never seen anything so innovative.
We are in meeting with IBM to develop these new processors. Once in production, our members will have the first chance to purchase these new innovative processors.
In addition, Microsoft is not innovative enough and has refused to support 128 bit so a massive team of 100,000,000 developers have been commissioned to begin development of GawOS.
Rest assured, your paycoin will be kept safely in cashtakers until we find hardware and software compatible with Paycoin. Cashtakers are still available for sale with bitcoin and fiat.
Paycoin will be worth $20 in paybase once this is completed in 100 years. Bitcoin is not viable.
Dollar killer! So exited!! |
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Whenever this new wallet comes out (assuming they actually figure it out), someone will have to do a diff to see what the hell they changed. I'm sure whatever it is, it'll be a terrible hack. I just wonder if it's possible that they can fuck things up so much they just say we need to start over lol. I bet their multiple coin development teams and entire companies they bought/hired/made up can reconcile the blockchain manually They should have had the wallet and the POW/POS draw down planned and tested thoroughly before they let the coin go live. I mean, isn't the test net there so they can run it through the paces before releasing it? Or run some freaking simulations for goodness sake! Use that 5 PH of SHA-256 hash they bought from Bitmain to abuse it. For all we know, maybe they did, but their test plan didn't account for these little issues. For a $100+ million valued product that is essentially a payment processing network, you cannot have these kinds of issues. Imagine if Visa rolled out a software change that caused the network to go down for 24 hours. It would be complete and utter anarchy! I see it now when the entire financial infrastructure of the world is underpinned by paycoin.... [suddenly the network goes down for 24 hours for the umpteenth time] Hey, looks like the power went down at Garza's mom's house again! Better call the WTO and tell them they'll need to release a new wallet to the general population! |
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I love how this is gonna push back the paybase release. As if they needed a really good excuse to do that. |
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That's a ban trap setup by rootdude, he's a wanna be Nazi All of HT is a ban trap! lol common sense = BAN |
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"Bitcoin has been stuck for a while in a sort of ‘deflationary spiral.’ " Paycoin has just been stuck. |
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Whenever this new wallet comes out (assuming they actually figure it out), someone will have to do a diff to see what the hell they changed. I'm sure whatever it is, it'll be a terrible hack. I just wonder if it's possible that they can fuck things up so much they just say we need to start over lol. |
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He could do something like put a 30 day hold for withdrawals on all incoming peecoin. Or is that even too draconian for gaw?
Or pay out in Meganet merchandise. We should probably stop giving them ideas, addictive as it may be Hey you're right! The person who asked this question is probably a Homero alt. lol |
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Well, we already have KYC and limits. This might be either (a) something CEO just made up on the spot, he tends to do that often; or (b) a new feature he didn't want to mention while pumping the price on exchanges, e.g. the floor price is available only for coins that never left ZenCloud. He could do something like put a 30 day hold for withdrawals on all incoming peecoin. Or is that even too draconian for gaw? |
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At what point does this become the worst run altcoin launch ever from a technical perspective?
I'm sure there's some real hum-dingers out there? Anyone have any historical perspective?
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You know it doesn't really matter that the paycoin network is down because no one was really doing anything with it anyway.
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Faithful: Oh what have we done to deserve this dear lord Homero? Homero: Ye sheep are mingling with the foxes at BCT! This is your punishment! You shall pay for your infidelity and your coin may burn! Yes, burn I say!! To ashes! Unless you heathens change your ways! Only I can save your now, with my updates made by Gawd! No paybase for you! No ROI for you! Unless you repent!! |
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