GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :)

[popejubs]

In case we all forget...from ToS:

4. Certain Risks Associated with HashStakers
4.1 Risk of Regulatory Action. Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies, both in the United States and internationally. HashStakers could by impacted by one or more regulatory inquiries or actions, which could (i) impede or limit the Company’s ability to continue to provide the HashStakers, or (ii) prevent the distribution, sale or use of Paycoin. 
4.2 Risk of Theft. Hackers or other groups or organizations may attempt to steal Paycoins staked in Prime Controllers and HashStakers. To account for this risk, the Company has and will continue to implement comprehensive security precautions to safeguard Prime Controllers and HashStakers.
4.3 Risk that Paycoin May Never be Completed or Released. Purchaser understands that, while the Company will make reasonable efforts to complete the Paycoin software, it is possible that an official completed version of Paycoin may not be released and there may never be an operational Paycoin, Prime Controller, or HashStaker.
4.4 Paycoins May Have No Value. Paycoin is a new cryptocurrency and its value is determined by supply and demand. At any point after its release, it is possible that the market price of a Paycoin may be zero. Because the value of Paycoin may be zero, the value of a stake, in Paycoins, from a HashStaker may also be zero.
4.5 No Liquidity. Because HashStakers and Prime Controllers are staking wallets, the Paycoins deposited at a HashStaker address will be locked for a length of time, which may be up to 6 months. During the staking period, Purchaser will not have the ability to withdraw or transfer those Paycoins.
4.6 Volatility. During a staking period, the market value of locked Paycoins may fluctuate dramatically. The value of the deposited Paycoins after the staking period may be less than the value of the Paycoins before they were deposited. 
4.7 No Guaranteed Return. Because proof-of-stake networks award new coins based on the size of a stake relative to other stakes, the Company cannot guarantee that the Prime Controller, and thus a HashStaker, will receive a portion of new Paycoins released during any staking period. Prime Controllers stake against other nodes. Third parties may control nodes that have much larger stakes than Prime Controllers and therefore receive a higher portion of new Paycoins.
4.8 Risk that Company Loses Control of Prime Controllers. Control of a Prime Controller is subject to a public bidding process. The highest bid controls the Prime Controller for the length of the staking round, at which point the bidding process restarts. Because the Company cannot guarantee that it will submit the highest bid for any Prime Controller, the number of HashStakers available during any staking round will fluctuate, and may be zero. There is no guarantee that, during any subsequent staking round, the Company will have control enough Prime Controllers to make a HashStaker available to Purchaser. 

[1715418116]

1715418116

[DARKANGEL6415]

They do take credit cards, but at least with some measure of verification:

http://leaserig.freshdesk.com/support/solutions/articles/1000075203-credit-card-acceptance-and-payment-polices

Seems right now zero verification at Homero's operation, is that even legal?  How about that money business license is there one for him in Texas now or wherever you should have it for your operation.

The impression they continually create is like a kid trying to stick a cube in the cube hole struggling and struggling and finally does it. Here they been struggling and struggling to keep their promise of CC payments trying everything and everyone, and now they probably lied to stripe to get one, they so proud of themselves, they forgot the fundamental license and verifications.

Cause once it is raised it will be declared BETA and the CEO never said it was live yet.  However half backed is the MO, they will shut it down after stripe tells them to, claim that something else forced them to close it, trolls attacking it, redditors hacking it, any old excuse, but there after gloat, see we did as we promised, we did provide CC payments. All for a day. Like the 30 second ceiling nearly realized. See but we did do as we said we would, we did meet the ceiling. All of 30 seconds that lasted.

Same story different day.

We're in the MAJOR leagues now, ladies and germs. The second he and/or is coverts launched this extension of Paybase, the scheme fell under the direct jurisdiction of the US FinCEN per 31 CFR 1010.100(t) (formerly 31 CFR 103.11(n)). Adding his 10% "convenience" fee is just icing on the cake. Expect things to happen much faster now.

Ref:
http://www.fincen.gov/financial_institutions/msb/definitions/msb.html
http://www.fincen.gov/financial_institutions/msb/definitions/person.html
http://www.fincen.gov/financial_institutions/msb/definitions/fin_ins.html

I can confirm the 10% "fee".

For shits and giggles, I decided to buy $100 of XPY with my rewards credit card, with the intention of immediately transferring to BTC, and then selling on coinbase to USD. Plus it was just $100, so I didn't really care if I lost 10-15% by the time I got back to USD to see how the process worked.

Steps I took.

1) Input my address and credit card info at Paybase.
2) Confirmed my phone number, to which I got a text from Swipe thanking me for signing up and saving my Credit Card data.
3) Typed in $100 into the USD field.
4) Clicked Buy.
5) On the next screen, I was thanked for my order, and informed I was charged $110.26.

Note that I was never informed the final price before accepting (I thought it was the $100 I typed in), nor do I see anywhere that I should have been charged a 10% fee.

6) My credit card had a pending auth from "Online San Francisco".
7) It then took over an hour for the XPY to deposit to Paybase.
Sent to Coin-Swap, sold for BTC, and sent to Coinbase.
9) Final result was $101 in BTC.

So if it wouldn't have been for the 10% fee, I would have come out even (plus the 2% rewards i'll get from my credit card).

LOL that is something else so they dont tell you they are going to charge you a 10% fee. Last time i checked all fees and stuff like that have to be disclosed for the customer 

[ikeboy]

In case we all forget...from ToS:

4. Certain Risks Associated with HashStakers
4.1 Risk of Regulatory Action. Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies, both in the United States and internationally. HashStakers could by impacted by one or more regulatory inquiries or actions, which could (i) impede or limit the Company’s ability to continue to provide the HashStakers, or (ii) prevent the distribution, sale or use of Paycoin. 
4.2 Risk of Theft. Hackers or other groups or organizations may attempt to steal Paycoins staked in Prime Controllers and HashStakers. To account for this risk, the Company has and will continue to implement comprehensive security precautions to safeguard Prime Controllers and HashStakers.
4.3 Risk that Paycoin May Never be Completed or Released. Purchaser understands that, while the Company will make reasonable efforts to complete the Paycoin software, it is possible that an official completed version of Paycoin may not be released and there may never be an operational Paycoin, Prime Controller, or HashStaker.
4.4 Paycoins May Have No Value. Paycoin is a new cryptocurrency and its value is determined by supply and demand. At any point after its release, it is possible that the market price of a Paycoin may be zero. Because the value of Paycoin may be zero, the value of a stake, in Paycoins, from a HashStaker may also be zero.
4.5 No Liquidity. Because HashStakers and Prime Controllers are staking wallets, the Paycoins deposited at a HashStaker address will be locked for a length of time, which may be up to 6 months. During the staking period, Purchaser will not have the ability to withdraw or transfer those Paycoins.
4.6 Volatility. During a staking period, the market value of locked Paycoins may fluctuate dramatically. The value of the deposited Paycoins after the staking period may be less than the value of the Paycoins before they were deposited. 
4.7 No Guaranteed Return. Because proof-of-stake networks award new coins based on the size of a stake relative to other stakes, the Company cannot guarantee that the Prime Controller, and thus a HashStaker, will receive a portion of new Paycoins released during any staking period. Prime Controllers stake against other nodes. Third parties may control nodes that have much larger stakes than Prime Controllers and therefore receive a higher portion of new Paycoins.
4.8 Risk that Company Loses Control of Prime Controllers. Control of a Prime Controller is subject to a public bidding process. The highest bid controls the Prime Controller for the length of the staking round, at which point the bidding process restarts. Because the Company cannot guarantee that it will submit the highest bid for any Prime Controller, the number of HashStakers available during any staking round will fluctuate, and may be zero. There is no guarantee that, during any subsequent staking round, the Company will have control enough Prime Controllers to make a HashStaker available to Purchaser. 

This is about hashstakers not paycoin. You didn't have to agree to this to buy paycoin.

[Mr Felt]

In case we all forget...from ToS:

4. Certain Risks Associated with HashStakers
4.1 Risk of Regulatory Action. Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies, both in the United States and internationally. HashStakers could by impacted by one or more regulatory inquiries or actions, which could (i) impede or limit the Company’s ability to continue to provide the HashStakers, or (ii) prevent the distribution, sale or use of Paycoin.  
4.2 Risk of Theft. Hackers or other groups or organizations may attempt to steal Paycoins staked in Prime Controllers and HashStakers. To account for this risk, the Company has and will continue to implement comprehensive security precautions to safeguard Prime Controllers and HashStakers.
4.3 Risk that Paycoin May Never be Completed or Released. Purchaser understands that, while the Company will make reasonable efforts to complete the Paycoin software, it is possible that an official completed version of Paycoin may not be released and there may never be an operational Paycoin, Prime Controller, or HashStaker.
4.4 Paycoins May Have No Value. Paycoin is a new cryptocurrency and its value is determined by supply and demand. At any point after its release, it is possible that the market price of a Paycoin may be zero. Because the value of Paycoin may be zero, the value of a stake, in Paycoins, from a HashStaker may also be zero.
4.5 No Liquidity. Because HashStakers and Prime Controllers are staking wallets, the Paycoins deposited at a HashStaker address will be locked for a length of time, which may be up to 6 months. During the staking period, Purchaser will not have the ability to withdraw or transfer those Paycoins.
4.6 Volatility. During a staking period, the market value of locked Paycoins may fluctuate dramatically. The value of the deposited Paycoins after the staking period may be less than the value of the Paycoins before they were deposited.  
4.7 No Guaranteed Return. Because proof-of-stake networks award new coins based on the size of a stake relative to other stakes, the Company cannot guarantee that the Prime Controller, and thus a HashStaker, will receive a portion of new Paycoins released during any staking period. Prime Controllers stake against other nodes. Third parties may control nodes that have much larger stakes than Prime Controllers and therefore receive a higher portion of new Paycoins.
4.8 Risk that Company Loses Control of Prime Controllers. Control of a Prime Controller is subject to a public bidding process. The highest bid controls the Prime Controller for the length of the staking round, at which point the bidding process restarts. Because the Company cannot guarantee that it will submit the highest bid for any Prime Controller, the number of HashStakers available during any staking round will fluctuate, and may be zero. There is no guarantee that, during any subsequent staking round, the Company will have control enough Prime Controllers to make a HashStaker available to Purchaser.  

"Third parties may control nodes that have much larger stakes than Prime Controllers and therefore receive a higher portion of new Paycoins."

EDIT:
Makes me think about that testing wallet . . . .

[popejubs]

In case we all forget...from ToS:

4. Certain Risks Associated with HashStakers
4.1 Risk of Regulatory Action. Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies, both in the United States and internationally. HashStakers could by impacted by one or more regulatory inquiries or actions, which could (i) impede or limit the Company’s ability to continue to provide the HashStakers, or (ii) prevent the distribution, sale or use of Paycoin.  
4.2 Risk of Theft. Hackers or other groups or organizations may attempt to steal Paycoins staked in Prime Controllers and HashStakers. To account for this risk, the Company has and will continue to implement comprehensive security precautions to safeguard Prime Controllers and HashStakers.
4.3 Risk that Paycoin May Never be Completed or Released. Purchaser understands that, while the Company will make reasonable efforts to complete the Paycoin software, it is possible that an official completed version of Paycoin may not be released and there may never be an operational Paycoin, Prime Controller, or HashStaker.
4.4 Paycoins May Have No Value. Paycoin is a new cryptocurrency and its value is determined by supply and demand. At any point after its release, it is possible that the market price of a Paycoin may be zero. Because the value of Paycoin may be zero, the value of a stake, in Paycoins, from a HashStaker may also be zero.
4.5 No Liquidity. Because HashStakers and Prime Controllers are staking wallets, the Paycoins deposited at a HashStaker address will be locked for a length of time, which may be up to 6 months. During the staking period, Purchaser will not have the ability to withdraw or transfer those Paycoins.
4.6 Volatility. During a staking period, the market value of locked Paycoins may fluctuate dramatically. The value of the deposited Paycoins after the staking period may be less than the value of the Paycoins before they were deposited.  
4.7 No Guaranteed Return. Because proof-of-stake networks award new coins based on the size of a stake relative to other stakes, the Company cannot guarantee that the Prime Controller, and thus a HashStaker, will receive a portion of new Paycoins released during any staking period. Prime Controllers stake against other nodes. Third parties may control nodes that have much larger stakes than Prime Controllers and therefore receive a higher portion of new Paycoins.
4.8 Risk that Company Loses Control of Prime Controllers. Control of a Prime Controller is subject to a public bidding process. The highest bid controls the Prime Controller for the length of the staking round, at which point the bidding process restarts. Because the Company cannot guarantee that it will submit the highest bid for any Prime Controller, the number of HashStakers available during any staking round will fluctuate, and may be zero. There is no guarantee that, during any subsequent staking round, the Company will have control enough Prime Controllers to make a HashStaker available to Purchaser.  

This is about hashstakers not paycoin. You didn't have to agree to this to buy paycoin.

It is about paycoin. All those customer that deposited paycoins with GAW Bankers have zero recourse if "something" happens.

EDIT: Also there clauses about paycoin...

[ikeboy]

In case we all forget...from ToS:

4. Certain Risks Associated with HashStakers
4.1 Risk of Regulatory Action. Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies, both in the United States and internationally. HashStakers could by impacted by one or more regulatory inquiries or actions, which could (i) impede or limit the Company’s ability to continue to provide the HashStakers, or (ii) prevent the distribution, sale or use of Paycoin.  
4.2 Risk of Theft. Hackers or other groups or organizations may attempt to steal Paycoins staked in Prime Controllers and HashStakers. To account for this risk, the Company has and will continue to implement comprehensive security precautions to safeguard Prime Controllers and HashStakers.
4.3 Risk that Paycoin May Never be Completed or Released. Purchaser understands that, while the Company will make reasonable efforts to complete the Paycoin software, it is possible that an official completed version of Paycoin may not be released and there may never be an operational Paycoin, Prime Controller, or HashStaker.
4.4 Paycoins May Have No Value. Paycoin is a new cryptocurrency and its value is determined by supply and demand. At any point after its release, it is possible that the market price of a Paycoin may be zero. Because the value of Paycoin may be zero, the value of a stake, in Paycoins, from a HashStaker may also be zero.
4.5 No Liquidity. Because HashStakers and Prime Controllers are staking wallets, the Paycoins deposited at a HashStaker address will be locked for a length of time, which may be up to 6 months. During the staking period, Purchaser will not have the ability to withdraw or transfer those Paycoins.
4.6 Volatility. During a staking period, the market value of locked Paycoins may fluctuate dramatically. The value of the deposited Paycoins after the staking period may be less than the value of the Paycoins before they were deposited.  
4.7 No Guaranteed Return. Because proof-of-stake networks award new coins based on the size of a stake relative to other stakes, the Company cannot guarantee that the Prime Controller, and thus a HashStaker, will receive a portion of new Paycoins released during any staking period. Prime Controllers stake against other nodes. Third parties may control nodes that have much larger stakes than Prime Controllers and therefore receive a higher portion of new Paycoins.
4.8 Risk that Company Loses Control of Prime Controllers. Control of a Prime Controller is subject to a public bidding process. The highest bid controls the Prime Controller for the length of the staking round, at which point the bidding process restarts. Because the Company cannot guarantee that it will submit the highest bid for any Prime Controller, the number of HashStakers available during any staking round will fluctuate, and may be zero. There is no guarantee that, during any subsequent staking round, the Company will have control enough Prime Controllers to make a HashStaker available to Purchaser.  

This is about hashstakers not paycoin. You didn't have to agree to this to buy paycoin.

It is about paycoin. All those customer that deposited paycoins with GAW Bankers have zero recourse if "something" happens.

EDIT: Also there clauses about paycoin...

Again, you did not have to agree to this to buy paycoin, only to sign up to zencloud. So it's meaningless for paycoin. Technically zencloud and paybase are two different companies.

[NSCrypto]

About the comment on Coinfire. 100% sure someone said that earlier today when it came out on their site when told the payments were closing. Seems all the comments in that thread have been deleted.

Someone posted the Coinfire article saying that they were behind the shutting down of credit card payments to which someone immediately responded: "..'they are like a torn in our side'..".  

I noted it because if the misspelling. Trying to see if it is still somewhere, but fear they deleted everything too quickly.

Last post in this screenshot
http://i3.minus.com/iPvGAE9USUL9E.png

lulz 3rd post from the bottom: "...I see no official statement by GAW that stripes is the payment processor, so bad journalism is bad."

lolwut

[popejubs]

In case we all forget...from ToS:

4. Certain Risks Associated with HashStakers
4.1 Risk of Regulatory Action. Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies, both in the United States and internationally. HashStakers could by impacted by one or more regulatory inquiries or actions, which could (i) impede or limit the Company’s ability to continue to provide the HashStakers, or (ii) prevent the distribution, sale or use of Paycoin.  
4.2 Risk of Theft. Hackers or other groups or organizations may attempt to steal Paycoins staked in Prime Controllers and HashStakers. To account for this risk, the Company has and will continue to implement comprehensive security precautions to safeguard Prime Controllers and HashStakers.
4.3 Risk that Paycoin May Never be Completed or Released. Purchaser understands that, while the Company will make reasonable efforts to complete the Paycoin software, it is possible that an official completed version of Paycoin may not be released and there may never be an operational Paycoin, Prime Controller, or HashStaker.
4.4 Paycoins May Have No Value. Paycoin is a new cryptocurrency and its value is determined by supply and demand. At any point after its release, it is possible that the market price of a Paycoin may be zero. Because the value of Paycoin may be zero, the value of a stake, in Paycoins, from a HashStaker may also be zero.
4.5 No Liquidity. Because HashStakers and Prime Controllers are staking wallets, the Paycoins deposited at a HashStaker address will be locked for a length of time, which may be up to 6 months. During the staking period, Purchaser will not have the ability to withdraw or transfer those Paycoins.
4.6 Volatility. During a staking period, the market value of locked Paycoins may fluctuate dramatically. The value of the deposited Paycoins after the staking period may be less than the value of the Paycoins before they were deposited.  
4.7 No Guaranteed Return. Because proof-of-stake networks award new coins based on the size of a stake relative to other stakes, the Company cannot guarantee that the Prime Controller, and thus a HashStaker, will receive a portion of new Paycoins released during any staking period. Prime Controllers stake against other nodes. Third parties may control nodes that have much larger stakes than Prime Controllers and therefore receive a higher portion of new Paycoins.
4.8 Risk that Company Loses Control of Prime Controllers. Control of a Prime Controller is subject to a public bidding process. The highest bid controls the Prime Controller for the length of the staking round, at which point the bidding process restarts. Because the Company cannot guarantee that it will submit the highest bid for any Prime Controller, the number of HashStakers available during any staking round will fluctuate, and may be zero. There is no guarantee that, during any subsequent staking round, the Company will have control enough Prime Controllers to make a HashStaker available to Purchaser.  

This is about hashstakers not paycoin. You didn't have to agree to this to buy paycoin.

It is about paycoin. All those customer that deposited paycoins with GAW Bankers have zero recourse if "something" happens.

EDIT: Also there clauses about paycoin...

Again, you did not have to agree to this to buy paycoin, only to sign up to zencloud. So it's meaningless for paycoin. Technically zencloud and paybase are two different companies.

It's all wrapped up in the same pile of horse shit, man.

[bitcoinnoisseur]

About the comment on Coinfire. 100% sure someone said that earlier today when it came out on their site when told the payments were closing. Seems all the comments in that thread have been deleted.

Someone posted the Coinfire article saying that they were behind the shutting down of credit card payments to which someone immediately responded: "..'they are like a torn in our side'..".  

I noted it because if the misspelling. Trying to see if it is still somewhere, but fear they deleted everything too quickly.

Last post in this screenshot
http://i3.minus.com/iPvGAE9USUL9E.png

And he's Team Paycoin which makes him even more delusional but more dedicated to the cause and probably more knowledgeable in IT. Interesting.

[baselope]

I would like to stop for just a moment, and ask a question concerning the repercussions of what is transpiring here.

If Paycoin / Paybase fail, then many people will lose alot of their money.
  I understand the reasons that you want this to occur for the founders of Paycoin, but have you stopped to think how many other people will feel that sting as you try and de-value the coin further?
  If you want to be "whistle blowers" and police wrongdoing with evidence of that wrongdoing brought to the authorities, I applaud your efforts.  We all need watchmen to help keep us out of trouble.  But please think about those you are calling stupid for having faith in the company, and try to help them / warn them BEFORE they take a further loss.  Reveling in the decline of the price, and wanting to smash the coin out of existence, will do nothing but hurt those that are invested in it.  You should feel some compassion for those of that have XPY holdings, and try to warn against the drop in price to help your fellow man.

I started here and on LCT over a year ago... I do not post very often, but I do read. Today I have posted twice...i am as upset about the matter as anyone on EITHER side can be, but it will not help the ones that do not read these pages to deflate the coin purposefully.  Your efforts would be better spent compiling the evidence and reporting it in a manner that would allow Journalists to research/verify/and publish.


I'll stop now, as I am not going to say anything else on the matter.  

[T0urist]

After watching American greed, Homero looks even dumber. There was a guy who scammed bill clinton and anne Hathaway. Homero is just stealing from retards.


Last edited by BitJane

exiting.

amazoning amazing

[cooldgamer]

So you can buy up to $300 of XPY with a credit card with nothing but a phone verification...  What the hell is keeping a hacker with a lot of people's credit cards from getting a whole bunch of throwaway phone numbers and completely destroying them?! 

This is going to go up in flames

[drasted]

I would like to stop for just a moment, and ask a question concerning the repercussions of what is transpiring here.

If Paycoin / Paybase fail, then many people will lose alot of their money.
  I understand the reasons that you want this to occur for the founders of Paycoin, but have you stopped to think how many other people will feel that sting as you try and de-value the coin further?
  If you want to be "whistle blowers" and police wrongdoing with evidence of that wrongdoing brought to the authorities, I applaud your efforts.  We all need watchmen to help keep us out of trouble.  But please think about those you are calling stupid for having faith in the company, and try to help them / warn them BEFORE they take a further loss.  Reveling in the decline of the price, and wanting to smash the coin out of existence, will do nothing but hurt those that are invested in it.  You should feel some compassion for those of that have XPY holdings, and try to warn against the drop in price to help your fellow man.

I started here and on LCT over a year ago... I do not post very often, but I do read. Today I have posted twice...i am as upset about the matter as anyone on EITHER side can be, but it will not help the ones that do not read these pages to deflate the coin purposefully.  Your efforts would be better spent compiling the evidence and reporting it in a manner that would allow Journalists to research/verify/and publish.

I'll stop now, as I am not going to say anything else on the matter.  

So your suggesting to let the scam continue? Or do you think they're going to turn around and start running an honest company?

[maildir]

 

Homero forgot to log into his paybase.com troll account

https://hashtalk.org/topic/28500/restored-credit-card-purchasing

[Phildo]

I would like to stop for just a moment, and ask a question concerning the repercussions of what is transpiring here.

If Paycoin / Paybase fail, then many people will lose alot of their money.
  I understand the reasons that you want this to occur for the founders of Paycoin, but have you stopped to think how many other people will feel that sting as you try and de-value the coin further?
  If you want to be "whistle blowers" and police wrongdoing with evidence of that wrongdoing brought to the authorities, I applaud your efforts.  We all need watchmen to help keep us out of trouble.  But please think about those you are calling stupid for having faith in the company, and try to help them / warn them BEFORE they take a further loss.  Reveling in the decline of the price, and wanting to smash the coin out of existence, will do nothing but hurt those that are invested in it.  You should feel some compassion for those of that have XPY holdings, and try to warn against the drop in price to help your fellow man.

I started here and on LCT over a year ago... I do not post very often, but I do read. Today I have posted twice...i am as upset about the matter as anyone on EITHER side can be, but it will not help the ones that do not read these pages to deflate the coin purposefully.  Your efforts would be better spent compiling the evidence and reporting it in a manner that would allow Journalists to research/verify/and publish.


I'll stop now, as I am not going to say anything else on the matter.  

These people lost their money the second they gave it to a scammer who has no plan to turn it into more money. It sill makes sense to save other people from jumping into the pit and convincing people in there to get out while they can.

These posts are not causing the price to crash. The price is crashing because GAW has not been able to do anything successfully since they starting "cloud mining." How are people shocked by this? People were practically forced into "mining" hashpoints with the promise of $20/coin. I have no idea why people still think this will work when literally nothing about paycoin/paybase has been as advertised. Posters here didn't promise 20/coin, posters here didn't set up CC payments with a company that says "no crypto," posters here didn't make up the 100 million dollars, or amazon integration, or any of the other bullshit spewed by GAW that hasn't come to fruition and has caused anyone over there with a brain that isn't hoping/praying for some other sucker to come along and take the bag from them.

[bitcoinnoisseur]

I would like to stop for just a moment, and ask a question concerning the repercussions of what is transpiring here.

If Paycoin / Paybase fail, then many people will lose alot of their money.
  I understand the reasons that you want this to occur for the founders of Paycoin, but have you stopped to think how many other people will feel that sting as you try and de-value the coin further?
  If you want to be "whistle blowers" and police wrongdoing with evidence of that wrongdoing brought to the authorities, I applaud your efforts.  We all need watchmen to help keep us out of trouble.  But please think about those you are calling stupid for having faith in the company, and try to help them / warn them BEFORE they take a further loss.  Reveling in the decline of the price, and wanting to smash the coin out of existence, will do nothing but hurt those that are invested in it.  You should feel some compassion for those of that have XPY holdings, and try to warn against the drop in price to help your fellow man.

I started here and on LCT over a year ago... I do not post very often, but I do read. Today I have posted twice...i am as upset about the matter as anyone on EITHER side can be, but it will not help the ones that do not read these pages to deflate the coin purposefully.  Your efforts would be better spent compiling the evidence and reporting it in a manner that would allow Journalists to research/verify/and publish.


I'll stop now, as I am not going to say anything else on the matter.  

Did you actually read a single sentence in this thread? ALL we have been doing for months has been trying to warn others and compiling the evidence and reporting it. That is exactly what this thread is about. Go read the OP.

EDIT: And we have tried our very best to warn everyone on HT. Problem is we all kept getting banned for raising the questions there.

[rokkyroad]

I would like to stop for just a moment, and ask a question concerning the repercussions of what is transpiring here.

If Paycoin / Paybase fail, then many people will lose alot of their money.
  I understand the reasons that you want this to occur for the founders of Paycoin, but have you stopped to think how many other people will feel that sting as you try and de-value the coin further?
  If you want to be "whistle blowers" and police wrongdoing with evidence of that wrongdoing brought to the authorities, I applaud your efforts.  We all need watchmen to help keep us out of trouble.  But please think about those you are calling stupid for having faith in the company, and try to help them / warn them BEFORE they take a further loss.  Reveling in the decline of the price, and wanting to smash the coin out of existence, will do nothing but hurt those that are invested in it.  You should feel some compassion for those of that have XPY holdings, and try to warn against the drop in price to help your fellow man.

I started here and on LCT over a year ago... I do not post very often, but I do read. Today I have posted twice...i am as upset about the matter as anyone on EITHER side can be, but it will not help the ones that do not read these pages to deflate the coin purposefully.  Your efforts would be better spent compiling the evidence and reporting it in a manner that would allow Journalists to research/verify/and publish.


I'll stop now, as I am not going to say anything else on the matter.  

That is a thoughtful and fair post.

[clownius]

I would like to stop for just a moment, and ask a question concerning the repercussions of what is transpiring here.

If Paycoin / Paybase fail, then many people will lose alot of their money.
  I understand the reasons that you want this to occur for the founders of Paycoin, but have you stopped to think how many other people will feel that sting as you try and de-value the coin further?
  If you want to be "whistle blowers" and police wrongdoing with evidence of that wrongdoing brought to the authorities, I applaud your efforts.  We all need watchmen to help keep us out of trouble.  But please think about those you are calling stupid for having faith in the company, and try to help them / warn them BEFORE they take a further loss.  Reveling in the decline of the price, and wanting to smash the coin out of existence, will do nothing but hurt those that are invested in it.  You should feel some compassion for those of that have XPY holdings, and try to warn against the drop in price to help your fellow man.

I started here and on LCT over a year ago... I do not post very often, but I do read. Today I have posted twice...i am as upset about the matter as anyone on EITHER side can be, but it will not help the ones that do not read these pages to deflate the coin purposefully.  Your efforts would be better spent compiling the evidence and reporting it in a manner that would allow Journalists to research/verify/and publish.


I'll stop now, as I am not going to say anything else on the matter.  

That is a thoughtful and fair post.

What so the "Paycoin Army" could DDoS said journalists and threaten their lives (again) and try and keep people from learning the truth that way?

People are trying to help you guys see the light and bail now.  A large loss is better than a total loss guys.  Total loss is what your facing.

All your doing is handing more BTC and now your CC limits to Josh...

[KC6TTR]

They do take credit cards, but at least with some measure of verification:

http://leaserig.freshdesk.com/support/solutions/articles/1000075203-credit-card-acceptance-and-payment-polices

Seems right now zero verification at Homero's operation, is that even legal?  How about that money business license is there one for him in Texas now or wherever you should have it for your operation.

The impression they continually create is like a kid trying to stick a cube in the cube hole struggling and struggling and finally does it. Here they been struggling and struggling to keep their promise of CC payments trying everything and everyone, and now they probably lied to stripe to get one, they so proud of themselves, they forgot the fundamental license and verifications.

Cause once it is raised it will be declared BETA and the CEO never said it was live yet.  However half backed is the MO, they will shut it down after stripe tells them to, claim that something else forced them to close it, trolls attacking it, redditors hacking it, any old excuse, but there after gloat, see we did as we promised, we did provide CC payments. All for a day. Like the 30 second ceiling nearly realized. See but we did do as we said we would, we did meet the ceiling. All of 30 seconds that lasted.

Same story different day.

We're in the MAJOR leagues now, ladies and germs. The second he and/or is coverts launched this extension of Paybase, the scheme fell under the direct jurisdiction of the US FinCEN per 31 CFR 1010.100(t) (formerly 31 CFR 103.11(n)). Adding his 10% "convenience" fee is just icing on the cake. Expect things to happen much faster now.

Ref:
http://www.fincen.gov/financial_institutions/msb/definitions/msb.html
http://www.fincen.gov/financial_institutions/msb/definitions/person.html
http://www.fincen.gov/financial_institutions/msb/definitions/fin_ins.html

They are registered w/ FinCEN as an MSB.  However, that's easy.  Its a one page form. They also have to be licensed in the states they do business with customers. Those licenses are difficult to get.  You have to have liquid capital in certain amounts, be bonded, pass a background check, etc.  

I put together some info on this type of situation RE: Moolah a while back, much of the info applies here too: http://www.reddit.com/r/notDogecoinFUD/comments/26wu0t/some_moowhitelies_errors/

RE: Cantor - its that guy as an individual, not Cantor.  The cointelegraph article was turrible on the details.

Well, in a nutshell, there is a HUGE difference between simply filing a regulatory application and being vetted and [then] being issued a MSB operating license. In this specific case and at this specific time, PayBase nor any other Garza/GAW owned/operated venture is in compliance with US federal law as it relates to money transmission... Period™

The number referenced is simply their application #.

Likewise, as you mention, there is no evidence any of the Garza/GAW entities plus the numerous DBA's even have a local or state business license or federal TAX ID (EIN), which is also required.

Yes, I remember Alex Green (Moolah). I had him pinned 3 weeks after he joined the subreddit (last February/March) and just like that drama fest, this one will have a similar conclusion. At least I received a boatload of apologies from most of his victims/supporters after the fact... hope you did too. Regardless, I am not sure we will receive the same respect after this chapter closes. GAW's cult is on a different level.

Scott-

[PhiPhi]

I would like to stop for just a moment, and ask a question concerning the repercussions of what is transpiring here.

If Paycoin / Paybase fail, then many people will lose alot of their money.
  I understand the reasons that you want this to occur for the founders of Paycoin, but have you stopped to think how many other people will feel that sting as you try and de-value the coin further?
  If you want to be "whistle blowers" and police wrongdoing with evidence of that wrongdoing brought to the authorities, I applaud your efforts.  We all need watchmen to help keep us out of trouble.  But please think about those you are calling stupid for having faith in the company, and try to help them / warn them BEFORE they take a further loss.  Reveling in the decline of the price, and wanting to smash the coin out of existence, will do nothing but hurt those that are invested in it.  You should feel some compassion for those of that have XPY holdings, and try to warn against the drop in price to help your fellow man.

I started here and on LCT over a year ago... I do not post very often, but I do read. Today I have posted twice...i am as upset about the matter as anyone on EITHER side can be, but it will not help the ones that do not read these pages to deflate the coin purposefully.  Your efforts would be better spent compiling the evidence and reporting it in a manner that would allow Journalists to research/verify/and publish.


I'll stop now, as I am not going to say anything else on the matter.  

That is a thoughtful and fair post.

Yes thoughtful even if misguided.

The problem is this does not just affect Paycoiners or their losses, fallout from GAW's scamming, incompetence or whatever you want to call it affects all of our investments and efforts in the crypto space.  What many are doing here on BTC is admirable and helps us all, we need to self regulate and subject these  shady, slight of hand hucksters to intense scrutiny otherwise the more traditional regulators will happily step into the void.  The sooner we can put Homero and his cronies down the better.