Summary of what happened with GAW

[Bitshire Hashaway]

 Last time I was involved with bitcoin I had some Gaw mining cloud miners ( can't even remember their names now but there was multiple named ones) and as I returned I see that they turned out to be scammers.

 Could anyone explain to me the downfall of gaw miners and what happened so far about it? I checked google and they are sued by many and miss their court etc etc , so this turned out to be the biggest result of scamming , usually people scam others and run away with it , this time it looks like they will pay the due in court.


 TL;DR : What happened with GAW to led to their downfall , what happened during the downfall , what is happening after the downfall?

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[wpstudio]

https://bitcointalk.org/index.php?topic=857670.0 

Read the first post... then if you have three months of free time, read the read of the thread.

[Phildo]

Summary: Garza is a con man who took your money.

They sold more hashpower than they had, and when they were running out of coins to pay out they came up with paycoin, which had a bunch more lies and ways to take money.

[geegaw]

 TL;DR : What happened with GAW to led to their downfall , what happened during the downfall , what is happening after the downfall?

https://encyclopediadramatica.se/Paycoin

[XERES]

Summary: Garza is a con man who took your money.

They sold more hashpower than they had, and when they were running out of coins to pay out they came up with paycoin, which had a bunch more lies and ways to take money.

Pretty much, except for the fact that paycoin is far from dead. The dev team are pretty active trying to rewrite the bad stigma behind Paycoin.

[Phildo]

Summary: Garza is a con man who took your money.

They sold more hashpower than they had, and when they were running out of coins to pay out they came up with paycoin, which had a bunch more lies and ways to take money.

Pretty much, except for the fact that paycoin is far from dead. The dev team are pretty active trying to rewrite the bad stigma behind Paycoin.

Those people are either idiots or scammers.

You can't rewrite the zillions of coins that are in the possession of criminals who have shown in the past that they will dump the coins if there is any upward movement.

[XERES]

Summary: Garza is a con man who took your money.

They sold more hashpower than they had, and when they were running out of coins to pay out they came up with paycoin, which had a bunch more lies and ways to take money.

Pretty much, except for the fact that paycoin is far from dead. The dev team are pretty active trying to rewrite the bad stigma behind Paycoin.

Those people are either idiots or scammers.

You can't rewrite the zillions of coins that are in the possession of criminals who have shown in the past that they will dump the coins if there is any upward movement.

the devs arent related to the Previous project. they simply took over because they didnt want to see their own investment crash. And its not a zillion coins. Just one.

[Phildo]

Summary: Garza is a con man who took your money.

They sold more hashpower than they had, and when they were running out of coins to pay out they came up with paycoin, which had a bunch more lies and ways to take money.

Pretty much, except for the fact that paycoin is far from dead. The dev team are pretty active trying to rewrite the bad stigma behind Paycoin.

Those people are either idiots or scammers.

You can't rewrite the zillions of coins that are in the possession of criminals who have shown in the past that they will dump the coins if there is any upward movement.

the devs arent related to the Previous project. they simply took over because they didnt want to see their own investment crash. And its not a zillion coins. Just one.

I'm not sure which of them are related because I lost track of who is on what team, but I know the guy who ran the data center that had zero hashlets, didn't give you guys coins, and didn't pay the electricity is still involved, as are many other GAW employees who have never given an accounting of their role in the scam.

Anyone who was involved then, or is involved now, shouldn't be trusted. They were either in on it in the beginning, so they shouldn't be trusted for being scum, or they are too stupid to realize they were getting robbed, in which case they shouldn't be trusted for being idiots.

And the zillions of coins I mentioned are all the xpy in the hands of those scumbags that they gave themselves in the beginning, or stole from the various sites that collapsed, or that they can just create out of thin air via staking now.

The only reason xpy ever had any value is because a liar said he would buy them for 20 each, he's about to end up in jail, and the people holding the coins can and will just dump them if these "new" "developers" every make anything of this piece of shit.

[rokkyroad]

Summary: Garza is a con man who took your money.

[Bitshire Hashaway]

 I missed out on the paycoin phase , obviously they got too greedy or they just said 'if we are going to scam , at least scam as much as we can.'

 They had a huge fan base , they did provide one of the greatest PR works in Bitcoin community , I have never seen that many people believe in one project , one guy as much as Garza and his team.

 Their downfall break the trust of the community which was already weak. New Cloud Mine websites and miner sellers will going to have a difficult time getting new costumers trust them because the already hurtful community is now only going for the known hashnest , even then they possibly invest some but most will fear to go all in.

 What a shame. This could have been a 100m$+ company.

[XERES]

Summary: Garza is a con man who took your money.

They sold more hashpower than they had, and when they were running out of coins to pay out they came up with paycoin, which had a bunch more lies and ways to take money.

Pretty much, except for the fact that paycoin is far from dead. The dev team are pretty active trying to rewrite the bad stigma behind Paycoin.

Those people are either idiots or scammers.

You can't rewrite the zillions of coins that are in the possession of criminals who have shown in the past that they will dump the coins if there is any upward movement.

the devs arent related to the Previous project. they simply took over because they didnt want to see their own investment crash. And its not a zillion coins. Just one.

I'm not sure which of them are related because I lost track of who is on what team, but I know the guy who ran the data center that had zero hashlets, didn't give you guys coins, and didn't pay the electricity is still involved, as are many other GAW employees who have never given an accounting of their role in the scam.

Anyone who was involved then, or is involved now, shouldn't be trusted. They were either in on it in the beginning, so they shouldn't be trusted for being scum, or they are too stupid to realize they were getting robbed, in which case they shouldn't be trusted for being idiots.

And the zillions of coins I mentioned are all the xpy in the hands of those scumbags that they gave themselves in the beginning, or stole from the various sites that collapsed, or that they can just create out of thin air via staking now.

The only reason xpy ever had any value is because a liar said he would buy them for 20 each, he's about to end up in jail, and the people holding the coins can and will just dump them if these "new" "developers" every make anything of this piece of shit.

If you view it as another coin with a shit past and shittier future, Thats your choice, but you cant neglect the positive plans and or accomplishments that the coin made or will make in the future.

[rezilient]

Summary: Garza is a con man who took your money.

They sold more hashpower than they had, and when they were running out of coins to pay out they came up with paycoin, which had a bunch more lies and ways to take money.

Pretty much, except for the fact that paycoin is far from dead. The dev team are pretty active trying to rewrite the bad stigma behind Paycoin.

Those people are either idiots or scammers.

You can't rewrite the zillions of coins that are in the possession of criminals who have shown in the past that they will dump the coins if there is any upward movement.

the devs arent related to the Previous project. they simply took over because they didnt want to see their own investment crash. And its not a zillion coins. Just one.

I'm not sure which of them are related because I lost track of who is on what team, but I know the guy who ran the data center that had zero hashlets, didn't give you guys coins, and didn't pay the electricity is still involved, as are many other GAW employees who have never given an accounting of their role in the scam.

Anyone who was involved then, or is involved now, shouldn't be trusted. They were either in on it in the beginning, so they shouldn't be trusted for being scum, or they are too stupid to realize they were getting robbed, in which case they shouldn't be trusted for being idiots.

And the zillions of coins I mentioned are all the xpy in the hands of those scumbags that they gave themselves in the beginning, or stole from the various sites that collapsed, or that they can just create out of thin air via staking now.

The only reason xpy ever had any value is because a liar said he would buy them for 20 each, he's about to end up in jail, and the people holding the coins can and will just dump them if these "new" "developers" every make anything of this piece of shit.

If you view it as another coin with a shit past and shittier future, Thats your choice, but you cant neglect the positive plans and or accomplishments that the coin made or will make in the future.

Paycoin is dead and will never rise again.. People would rather stick with bitcoin..

[Phildo]

 I missed out on the paycoin phase , obviously they got too greedy or they just said 'if we are going to scam , at least scam as much as we can.'

 They had a huge fan base , they did provide one of the greatest PR works in Bitcoin community , I have never seen that many people believe in one project , one guy as much as Garza and his team.

 Their downfall break the trust of the community which was already weak. New Cloud Mine websites and miner sellers will going to have a difficult time getting new costumers trust them because the already hurtful community is now only going for the known hashnest , even then they possibly invest some but most will fear to go all in.

 What a shame. This could have been a 100m$+ company.

No it couldn't have. You can't make 100m$ buying $4 bills for $20. The only things they ever did was sell hashpower that didn't exist and claim to buy $4 bills for $20.

People fall for scams all the time because they think they will get rich, you don't have to go that far in the history of this forum to find people falling for every other piece of shit miner and ponzi scheme that ended up costing people tons of money.

[Phildo]

Summary: Garza is a con man who took your money.

They sold more hashpower than they had, and when they were running out of coins to pay out they came up with paycoin, which had a bunch more lies and ways to take money.

Pretty much, except for the fact that paycoin is far from dead. The dev team are pretty active trying to rewrite the bad stigma behind Paycoin.

Those people are either idiots or scammers.

You can't rewrite the zillions of coins that are in the possession of criminals who have shown in the past that they will dump the coins if there is any upward movement.

the devs arent related to the Previous project. they simply took over because they didnt want to see their own investment crash. And its not a zillion coins. Just one.

I'm not sure which of them are related because I lost track of who is on what team, but I know the guy who ran the data center that had zero hashlets, didn't give you guys coins, and didn't pay the electricity is still involved, as are many other GAW employees who have never given an accounting of their role in the scam.

Anyone who was involved then, or is involved now, shouldn't be trusted. They were either in on it in the beginning, so they shouldn't be trusted for being scum, or they are too stupid to realize they were getting robbed, in which case they shouldn't be trusted for being idiots.

And the zillions of coins I mentioned are all the xpy in the hands of those scumbags that they gave themselves in the beginning, or stole from the various sites that collapsed, or that they can just create out of thin air via staking now.

The only reason xpy ever had any value is because a liar said he would buy them for 20 each, he's about to end up in jail, and the people holding the coins can and will just dump them if these "new" "developers" every make anything of this piece of shit.

If you view it as another coin with a shit past and shittier future, Thats your choice, but you cant neglect the positive plans and or accomplishments that the coin made or will make in the future.

What are these accomplishments?

How can these "positive plans" overcome the fact that known scumbags have a ton of coins and will benefit if by some miracle actually happens? there are so many coins that came from nowhere that if anything does happen, they will just dump and screw you guys over.

there is zero reason for these "great developers" that again, I know are either stupid and/or scumbags because they have been involved with this coin for a while, to continue with paycoin. If they have great plans and/or accomplishments, they would be better off starting over, but then they wouldn't have so many free coins, so there's no reason to do it.

Stop falling for their bullshit, find something better to do with your time and money before you end up screwed over like everyone else involved in paycoins except the actual thieves.

[rokkyroad]

Paycoin is dead and will never rise again..

You got that right. The name "Paycoin" will always be tainted by, possibly, the biggest altcoin/cloud mining scam thus far. Those bagholders trying to peddle it might as well beat a dead horse.