[ANN][PYC] Paycoin - Going to be hard forked soon!

[Vlad2Vlad]

So we're clear on this..... you wanna be "that guy" then. Am I right?

Man, Bitcointalk has really changed... I'll leave it at that.

I don't wanna be "that guy".

I am "that guy"!

[1714180143]

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[1714180143]

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[Vlad2Vlad]

Really? Paycoin theft? Nobody is stealing paycoin.

If they bacekd off, maybe they knew what they were doing wasn't completely legal.  

How can anybody involved with Bitcoin or crypto be so clueless as to what's about to happen here?

What happens to PayCoin will determine many other HUGE legal issues involving Bitcoin and the fate of many other alt coins, INCLUDING Bitcoin.

If Josh Garza gets his way then it will set a legal precedent allowing the likes of JP Morgan to be able to [in theory] buy the Bitcoin trademark from Karpeles and with that trademark launch their own Bitcoin and demand that the original Bitcoin be removed from all exchanges and sue anyone that uses that name unless it's for their bank controlled Bitcoin.

How does that sound right or fair to any sane logical person?

Why?  Oh, because the original founder of Bitcoin, Satoshi, has abandoned the coin and those developing it now have no rights to it since it's not "their" coin and besides, JP Morgan owns the Bitcoin trademark which means they automatically own all the rights to Bitcoin itself.

Don't you people see what this case means and what a dangerous precedent it would set for Bitcoin and for all Crypto?

It would literally open up a legal loophole for the rich and powerful to hi-jack any coin by simply grabbing the trademark.

I'm not just fighting for my investment here or just for the PayCoin community - this fight is for everything Crypto Currencies stand for and if we don't stick together - the elites Satoshi was fighting against, the Status Quo, will deliver a death blow to Bitcoin and to all crypto currencies which will hurt all of us.

Stop being cowards and stand up and fight for what is right - fight the Status Quo who is blatantly trying to hi-jack this entire new industry, our industry, the people's industry.

[Vlad2Vlad]

Caution:

The PayCoin price has more than doubled in the past 12 hours.

No doubt we're seeing speculation about what's really going on with PayCoin and why would Josh Garza be trying to work a deal with me [and PayCoin] if he really "owned" the PayCoin trademark like he has been claiming.

I believe in total transparency so here are two important things regarding this matter:

1) Be careful to not overpay for your PayCoins - this whole thing could end at a moment's notice and it could end badly for PayCoin (the Original); however, it could also mean PayCoin holders win and get bought out at a much, much higher price.  

Just don't be impulsive when buying Paycoins at these higher levels - understand the risk involved.

...and

2) I am not trying to pump PayCoin - that's not my M.O. - the last price I sold any Paycoins at was around ~3,500 Satoshi so I have not sold a single coin at this much higher level over the past 12 hours.

Therefore, like some of you, I am very optimistic that we have a very strong case and if the big heavy hitters in cryptoworld realize that this is an attack on all crypto-currencies and it would set a dangerous precedent then I would expect the PayCoin community to get a lot of help from a White Knight and from the crypto media.

Good luck!

[portice]

I applaud you Vlad, at least your ridiculous rants are making you some profit on your garbage coin that nobody has supported in 6+ months or so.  And no, I think XPY is shit too, but you're just angleshooting here and playing the hype while finding unsuspecting rookies to buy your bag.

[Rakessh]

Really? Paycoin theft? Nobody is stealing paycoin.

If they bacekd off, maybe they knew what they were doing wasn't completely legal.  

How can anybody involved with Bitcoin or crypto be so clueless as to what's about to happen here?

What happens to PayCoin will determine many other HUGE legal issues involving Bitcoin and the fate of many other alt coins, INCLUDING Bitcoin.

If Josh Garza gets his way then it will set a legal precedent allowing the likes of JP Morgan to be able to [in theory] buy the Bitcoin trademark from Karpeles and with that trademark launch their own Bitcoin and demand that the original Bitcoin be removed from all exchanges and sue anyone that uses that name unless it's for their bank controlled Bitcoin.

How does that sound right or fair to any sane logical person?

Why?  Oh, because the original founder of Bitcoin, Satoshi, has abandoned the coin and those developing it now have no rights to it since it's not "their" coin and besides, JP Morgan owns the Bitcoin trademark which means they automatically own all the rights to Bitcoin itself.

Don't you people see what this case means and what a dangerous precedent it would set for Bitcoin and for all Crypto?

It would literally open up a legal loophole for the rich and powerful to hi-jack any coin by simply grabbing the trademark.

I'm not just fighting for my investment here or just for the PayCoin community - this fight is for everything Crypto Currencies stand for and if we don't stick together - the elites Satoshi was fighting against, the Status Quo, will deliver a death blow to Bitcoin and to all crypto currencies which will hurt all of us.

Stop being cowards and stand up and fight for what is right - fight the Status Quo who is blatantly trying to hi-jack this entire new industry, our industry, the people's industry.

Bitcoin is a trademark held by MtGox, on the dubious theory that "better they than someone else". There was some talk about them transferring this to the Foundation, but nothing came of it AFAIK.

So if the foundation still hasn't done anything about this, then shame on them. Bitcoin is then an asset in the bankrupt holdings of MtGox currently controlled by the courts of Japan.

[Vlad2Vlad]

I applaud you Vlad, at least your ridiculous rants are making you some profit on your garbage coin that nobody has supported in 6+ months or so.  And no, I think XPY is shit too, but you're just angleshooting here and playing the hype while finding unsuspecting rookies to buy your bag.

My bag? I could dump all my coins right now at 7,000 Satoshi and make out like a bandit.

But I'm not selling any of my coins right now, not one, so you're gonna need to find a different term to describe what I'm doing, cause "angleshooting" ain't gonna cut it.

Thanks for your support!

[portice]

Where were you the past 6 months then?  Supporting the PYC community or riding the tails of XPY once it gained traction?

[Vlad2Vlad]

Bitcoin is a trademark held by MtGox, on the dubious theory that "better they than someone else". There was some talk about them transferring this to the Foundation, but nothing came of it AFAIK.

So if the foundation still hasn't done anything about this, then shame on them. Bitcoin is then an asset in the bankrupt holdings of MtGox currently controlled by the courts of Japan.

Bitcoin the trademark, yes.

But Bitcoin the currency is owned by the Bitcoin community which took it over under the rules and laws of open source software as outline under the MIT license.

Nobody holding the Bitcoin trademark can stop Bitcoin, its developers or its community from doing as they please with Bitcoin the currency.

This is what Josh Garza doesn't seem to understand about these open source [MIT licensed] Crypto-Currencies.  

He cannot stop PayCoin (the original) even if he actually got lucky somehow and attained the PayCoin trademark.

[Vlad2Vlad]

Where were you the past 6 months then?  Supporting the PYC community or riding the tails of XPY once it gained traction?

Where was Josh Garza in relation to PayCoin [the original] the past 18 months?

It doesn't matter where I was - I was in a level 4 coma dreaming about fishing in Alaska.  Is that distant enough to prove my point?

It really doesn't matter does it - cause it doesn't change the hard facts which are that I was a long-time major holder of PayCoin and now I legally, following the rules of open source crypto-currencies - with the help of others in the PayCoin community - have officially completed a community takeover of PayCoin.

Whatever gives Josh Garza a right to own the PayCoin brand gives us that same right only much much more so.

[Rakessh]

Bitcoin the trademark, yes.

But Bitcoin the currency is owned by the Bitcoin community which took it over under the rules and laws of open source software as outline under the MIT license.

Nobody holding the Bitcoin trademark can stop Bitcoin, its developers or its community from doing as they please with Bitcoin the currency.

This is what Josh Garza doesn't seem to understand about these open source [MIT licensed] Crypto-Currencies.  

He cannot stop PayCoin (the original) even if he actually got lucky somehow and attained the PayCoin trademark.

You know why it was trademarked? If you do then you'd see how that will avoid a whole can of worms.

Bitcoin should have been trademarked by the foundation and then MIT-licensed like the rest of the asset.

Right now it's a legal crowbar for anyone interested in toppling bitcoin. They can't attack bitcoin the network directly.

But if you held bitcoin trademark AND started up an alternative bitcoin network, you could sue the shit out of any and all merchants who sticks a "pay with bitcoin" text or graphic on their site.

Effectively killing much of its usability and adoption.

Why do you think someone actually spent huge amounts of money trying to secure the trademark (bitcoin) in the first place? Lucky us they didn't succeed that time, but it does show that communities and crowds have zero know-how about laws.

I'm no lawyer, and this may not be the way it is of course. But unless you seek legal counsel you have a much higher chance of staying SOL as ever.

However, with the available evidence it does seem like a plausible scenario.

[CryptoCurrencyInc.com]

The Solution is very simple.

Paycoin [PYC] was first to use the name Paycoin.
Paycoin [XPY] came from Gawminer. They just need to change their name to Gawcoin

Problem solved.

Just out of curiosity, did any of you guys try to copy Paypal, and thought it was a good idea to use the word "Pay" and attached "coin" to the end of it?

Peercoin is a perfect example of name similar to Paypal. Instead of using the word "Pal", they replaced it with the word "Peer" and attached "coin" to the end of it.

[Gabralkhan]

So...when your legal procedure is starting?

I can't wait to see one user on a forum without anything more than a forum thread and no identity confirmed whatsoever start a federal prosecution on a TradeMark that he self proclamed to own, because as far as i see no one of the community voted...

By the way, you took control of everything in the interest of the community...on your own initiative and decision, without approval from the community or even an attempt to ask them what they wanted ?

I'm sure the Cryptocurrency community like very much the concept of taking over control of everything for an alleged community interest, just on your own initiative.

In my book It is just take advantage of the dev absence, whatever are the reasons, to steal an idea and a coin...

Don't make the audience wait too much, people will probably loose fast interest even if you throw some ideology and use the GAW haters of Bitcointalk...

Enough useless chat now, where are the documents of the procedure please ?

Honestly, do you really think you can fool a long time the community with a coin that is not even working ? Outside the 2 exchnages it does not even exists...wallet cannot sync, there is no pool and no blocks produced, and you ask support to the community for your little extortion game ?

If you had really the intentions that you claim for PYC you would have worked this coin for a long time or tried to gather a team, promote it...Outside of you little story with GAW i don't see anything...

And honnestly i doubt you would have distributed anything to the PYC community if GAW had paid you, you didn't made any efforts to contact them, to search or to try to know who they are...

[darkangel11]

I applaud you Vlad, at least your ridiculous rants are making you some profit on your garbage coin that nobody has supported in 6+ months or so.  And no, I think XPY is shit too, but you're just angleshooting here and playing the hype while finding unsuspecting rookies to buy your bag.

He wants it to sound important...

"What happens to PayCoin will determine many other HUGE legal issues involving Bitcoin and the fate of many other alt coins, INCLUDING Bitcoin."

Sory Vlad, paycoin will not determine anything. Nobody cares that someone took a name of a worthless shitcoin from you. The only person that will care is a lawyer, that is if you decide to pay him first

[bitpop]

Shitcoin vs Shitcoin

[Vlad2Vlad]

Shitcoin vs Shitcoin

Not quite, man.

ShitCoin vs OG ShitCoin.

OG Paycoin keepn' it realz!

[SXCLadies]

lets face facts here, atm every coin atm is as you call it shitcoin. Until you can walk into a shop and buy something with coins XYZ they are all just good in theory. Paybase has a chance at changing this. I bought a few btc worth in the hopes itll work out. But i learned a long time ago not to invest in something unless your prepared for it to fail.

Tho this coin is the first in a LONG time to have a shot at working.

As for the fight between the 2 paycoins... pretty sure they both should just stfu and leave it to the lawyers cause anything said here will end up being used in court at some point

[Vlad2Vlad]

cause anything said here will end up being used in court at some point

Finally, someone who's starting to understand what's going on.

Too bad Mr. Garza didn't have you as an adviser before he took the wrecking ball to this community.

I'm starting to think Mr. Garza has no advisers [cause he couldn't find anyone smarter than himself on the entire planet].  haha!

[scriptmastr]

lets face facts here, atm every coin atm is as you call it shitcoin. Until you can walk into a shop and buy something with coins XYZ they are all just good in theory. Paybase has a chance at changing this. I bought a few btc worth in the hopes itll work out. But i learned a long time ago not to invest in something unless your prepared for it to fail.

Tho this coin is the first in a LONG time to have a shot at working.

As for the fight between the 2 paycoins... pretty sure they both should just stfu and leave it to the lawyers cause anything said here will end up being used in court at some point

 it s both shitcoins. but this i s more liquid shit. and more ugly. developer want only sell his shit now and use hype of other coin. make peace!!!! we are in open source comunity. shame on you dev!!! ppl like you destroy open source world.

[KC6TTR]

Bitcoin is a trademark held by MtGox, on the dubious theory that "better they than someone else". There was some talk about them transferring this to the Foundation, but nothing came of it AFAIK.

So if the foundation still hasn't done anything about this, then shame on them. Bitcoin is then an asset in the bankrupt holdings of MtGox currently controlled by the courts of Japan.

"Bitcoin" is no longer protected and is within the public domain both in law and fact. Specifically, the word is not seen as a viable asset worth protecting by any specific government or court trustee within the scope of the current proceedings as that is not their focus. Likewise, I doubt anyone would be successful in the long term claiming ownership or exclusive use via a trade and/or service mark.

Scott-

[siampumpkin]

Additionally, any trademark considered in use as a generic term is invalid. It can be said that Bitcoin is a generic terms for crypto currency.