No, my point is that your "argument" looks at the money flowing in, but not the money flowing out. Lots of money flowed into GAW. But lots of money flowed out. Payroll, buying btc.com. Big money flowing in, big money flowing out. Unpaid bills suggest that it flowed out faster than it flowed in.

Josh personally may have had millions flow into his pockets, but Ferraris and private jets and trips to Europe will chew up money pretty fast. That doesn't mean he doesn't still have money. He could be worth millions, he could be bankrupt.

I'm going to ignore you now, until you manage to say something coherent.

No, that's not my claim. My point is that what you're saying makes no sense. In another comment you assume that these millions would come from selling premined coins, and you come up with twelve million dollars somehow there ... which is just nuts. Josh doesn't have the entire premine of twelve million coins. Even if he did the blockchain doesn't show anywhere near that many being dumped. Nor would the market depth allow selling anywhere near that volume.

But yeah, unpaid bills do point to incompetence.


Unpaid bills are suggestive of financial distress. That would be about GAW, the company.

Josh might personally have a lot of money. Or it might have all gone to Ferrari leases and private jets and whatever and he might be hounded by debt collection agencies. I don't have any way of knowing. If he held onto some of the money, and fraud is proven in court, you might get some money back that way but don't count on it.

It's hard to figure out what you think you're arguing.

Money flowed into GAW. Money flowed out of GAW.

Money flowed into Josh's pockets. Money flowed out of Josh's pockets. Livin' large ain't cheap.

What's your point?

I've seen that claim before, but never any evidence to back it up. What's your evidence?

Where was that?


You stopped reading too soon there buddy. The claim about the "proof" that the emails were faked ... well just go read it yourself. I won't spoil the surprise.

I keep wanting to think that nobody could be as dense as Vlad seems to be. Surely he posts these things to be funny, right?

Hey coinbrief guy, has he really contacted you about this? He says he's giving you some time before he posts ... if that's true, what did he tell you?

They can't claim (credibly) that the DKIM signatures were forged. They can't claim that someone hacked into Josh's email -- on two different systems -- months ago without looking like idiots. I wonder what sort of proof they're going to try to claim?

There are apparently a lot of suckers out there buying, all saying to themselves "if it's not at 1 penny given this current shitstorm ...".

Just think how much more you'd have "invested" if he'd promised to give away a MILLION dollars and then deleted the announcement and deleted the rules page and let the day the winners were supposed to be announced come and go without mention.

Don't quote me on this, but the problem the miners solve is a completely different problem. You can generate a hash easily enough, but to be a candidate block for the block chain you have to find a hash that has a certain property -- it has to begin with a certain number of zeros. To increase the difficulty you just increase the number of zeros required. There are an enormous number of hashes that would be valid, but you just have to find one. So you generate as many as you can, as fast as you can, and hope you're the first to find a valid hash.

To forge a DKIM signature, or to spend someone's bitcoin without knowing their private key, you have to solve a problem that's much harder. There's only one right answer and you have to find that exact answer. As far as anyone (outside the NSA anyway) knows the only way to solve it is by brute force, and if that's true then even if you could harness all the hash power of all the bitcoin miners in the world your bitcoins would still be safe.

@sdrebel -- on HT you wrote "i believe a fair comparison would be that faking a dkim signature is as easy as solving a btc block. it can happen, but it takes a shitload of computing power to do it"

Nope, that's not right, if by solving a block you mean a miner generating a new block.

It's more like faking a DKIM signature is like finding the private key for an already-generated address, i.e., being able to spend someone else's bitcoins without knowing their private key. Bitcoin is secure because that's so *extremely* computationally difficult. Much harder than generating a candidate block for the blockchain.

Who is buying so much is an excellent question, and it's gone unanswered because nobody knows. A lot of the volume is bots and traders but that's not enough to explain it. Some of the HT faithful are still buying.

We can rule out some really stupid answers, though, such as your own answer. It's not because anyone who got millions of coins for zero cost in the 97% premine, and who gets coins for free from the special 3000% inflationary stakers, is buying on cryptsy. That's just idiotic.

No there's not. XPY is a broken, hyper-inflating peercoin clone. Garza has not delivered on any of the big promises about features and programs. Not a single one. XPY and Garza are not a threat to any legitimate coins.

Such as?

And at the moment it's broken below .00300. 

Look at how much the volume slowed after withdrawals were blocked. That gives you an indication of how much selling volume was from people dumping what they got from hashtakers. What do you think happens when all of those accumulated coins hit the markets if they allow withdrawals again? The longer they delay, the worse it's going to be.

Josh did announce something that he said would revolutionize the industry (this from someone who so far has only managed to launch a broken peercoin clone) and the pattern is that the price jumps when he announces something, then crashes when he doesn't deliver. At .004 you were buying at the peak of the bump off of that announcement. What do you think happens as we get closer to the alleged beta, now less than two weeks away, and nothing happens?

The whole buyback thing would be a bad idea if they actually do it, but all the evidence says they don't have the cash to do it anyway. But he said recently that the payouts would be ahead of schedule, which means before April 1. But they haven't even let anyone register and deposit money yet. The buyback is one of the big promises that the faithful have clung to. As it sinks in that the "honor program" isn't going to happen, what do you expect will happen to the price?

The significance of the DKIM-signed emails is just now washing over HT. Read the article that was just posted. There's some brutal stuff in there.

Good timing, dude.

That's the point. The announcement was deleted, and the rules page was deleted, and yet Vlad expects that the prize will actually be awarded. Or he claims to believe that. From the kinds of things he says it's hard to tell whether he's joking, or just extremely gullible.  

Here's the link for the official announcement: https://hashtalk.org/topic/22909/build-a-business 

Here's the link for the official rules page: https://paybase.com/challenge 

Enlightenment awaits you.

Is there even one thing that Josh did competently with regard to paycoin/paybase? Anything at all? What he delivered was a broken, hyper-inflating peercoin clone that is massively overpriced at it's current price and twelve million dollar market cap.

Of course we still need to wait to see what his super secret "muuuhhh" project is, developed with multiple software development teams around the world and scheduled to launch in beta in less than two weeks and guaranteed to revolutionize the entire industry! No way that will turn out to be yet another in a long string of fizzles and failures, right?

No problem! 

That was small potatoes compared to the "muuuhhh" pre-announcement:
https://hashtalk.org/topic/32651

I'm amazed it hasn't been deleted yet. Read all of his comments. Best case, he was drunk posting.