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

[suchmoon]

**SNIP**

Anyone buying the coin on exchanges will have 1/3 of the purchase price go into the fiat reserve

What exchanges?

**SNIP**

Anyone knows what that statement/quote means?  Don't recall seeing anything about it before.

If I'm selling my coin on the exchange and someone's buying it, how does 1/3 end up in the fiat reserve?!  Who's paying for it?

That's incorrect. Not 1/3 of exchange sales proceeds, but 1/3 of ICO proceeds was supposed to go to the reserve. However with the Round 3 cancelled and Round 2 being Hashpoints (no real cash), and Round 1 funded by mysterious VCs I'm not sure if that still holds true.

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[jackbox]

**SNIP**

Anyone buying the coin on exchanges will have 1/3 of the purchase price go into the fiat reserve

What exchanges?

**SNIP**

Anyone knows what that statement/quote means?  Don't recall seeing anything about it before.

If I'm selling my coin on the exchange and someone's buying it, how does 1/3 end up in the fiat reserve?!  Who's paying for it?

That's incorrect. Not 1/3 of exchange sales proceeds, but 1/3 of ICO proceeds was supposed to go to the reserve. However with the Round 3 cancelled and Round 2 being Hashpoints (no real cash), and Round 1 funded by mysterious VCs I'm not sure if that still holds true.

Round 3 cancelled? Not going to scam regular people out of $10 for the shitcoin?

[suchmoon]

Next will be the HashStaker amp. Make it super duper more powerful than a regular HashStaker. Only $19.95 to amp it up! 

What's an amp? I keep seeing amps.

Amp is something you can add to your hashlet to make it do something extra. E.g. "boost" - double hashrate for 3 hours.

I think Terry Li of Zeus tweeted something about that a while ago:

https://twitter.com/terryli/status/530742951178010624

Yup, it seems the video game industry owes decades long due thanks to @gawceo "hashking". @ZeusHash_Zeus

[suchmoon]

The statement below sounds awfully like an admission that the $100m needs to be covered by staker sales. Why would that be if there was VC funding? Or put it another way, why would they need VCs if they could just sell a bunch of hashlets/stakers? Doesn't make sense either way.

https://hashtalk.org/topic/20296/hashstaker-q-a/223

Why do they need money at all if POS is built in to the coin? Shouldn't the prime nodes create the paycoins needed to payout hashstakers?

I thought the $100 million was to absorb the $15 million that will be dumped daily during the POW stage.

It's one and the same. Hashstaker sales fund the floor. Here is a good thread with screenshots: https://hashtalk.org/topic/20601

For example this one:


Edited 2020-11-28 to fix a broken image

And BTW the POW stage might be very brief or not even happen at all, according to some quotes in that thread and some HT speculation based on that. And apparently the petahashes of SHA256 are supposed to be sold off on oneminer.com once the PayCoin is all POS.

[bitpop]

Funny how things keep changing when all this is supposed to be set in the genesis block.

[T0urist]

It's one and the same. Hashstaker sales fund the floor. Here is a good thread with screenshots: https://hashtalk.org/topic/20601

For example this one:

Josh isn't telling lies its all in the wording. The hashstaker sales are going to build a stronger floor....... for his new house.

[derr89]

Maybe that where all the 100millions investor come from, prime, zen all the solo hashlet & now the Hashstake  to build a stonger floor   

[siampumpkin]

Why is it when "Josh" is doing one of his Q&A chats does it look like it is coming from his living room? Also, all the other members of his staff are always appearing by video chat from some super secret location? I think they are just sitting in their respective houses trying to pull one over on everyone. Has GAW even once published a picture of an office that did not look like Josh's bedroom?  Just thinking out loud. 

[raskul]

Why is it when "Josh" is doing one of his Q&A chats does it look like it is coming from his living room? Also, all the other members of his staff are always appearing by video chat from some super secret location? I think they are just sitting in their respective houses trying to pull one over on everyone. Has GAW even once published a picture of an office that did not look like Josh's bedroom?  Just thinking out loud. 

Josh's mums house:

http://www.gawminers.com/pages/contact-us

[benjamin07]

Genesis-Mining: honest people, very quiet, focusing on mining.
GAW: dishonest people, making waves left right and center, virtual coin, virtual miners, all about their own profit tomorrow, GAW's CEO only goal in life when he goes to be is: how am i going to rip off people tomorrow, just make them pay me money, doesn't matter if what I promise them is changed 180 degrees 5 minutes after they paid me, i just continue with another lie.

One regulation he has broken so many times is deceitful conduct to entice into bad investments.

One of a million, too bad for him there are a million precedents so it is nothing new his case will be easy: http://www.securitieslawfirms.com/brokerage-fraud/bad-investment-financial-advice-law.htm

[keshuker]

I was a believer until I read this thread and last drop was the HashStaker bs. Ive been a Blackcoin community member for long and think I understand the basics how coin generation works in PoS. GAW seems not to.

My post:
https://hashtalk.org/topic/20525/please-make-it-right-for-us-prime-holders-josh-before-next-update/99

"In my opinion, the elephant in the room is that PoS staking is creating coins out of thin air, without "work".
Blackcoin was the first 100% PoS coin and there you earn 1% interest per year if you stake your coins. These new coins causes a tiny inflation on the value as the new coins generated will dilute the market a tiny bit.
The Blackcoin dev could of course change this percentage if he wanted and create a lot more coins. Would that equal increasing the market cap? No

As far as I see it, changing away from hashlets mining proof of work coins for injecting new money into Paycoin, will only dilute the coin. There is no new money flowing into the economy, just new coins generated.

This was soon clear for me after reading the announcement of the plans for changing basically all hashing into staking. Also the question about what will happen to all the huge mining farms GAW owns? They will let their customers exchange their Proof of Work miner into a wallet that does no work, just stakes.

To add to this, the new development seems to be a way for GAW to not let people cash out on their Paycoins, but instead lock them in for 3-6 months and even giving them more money for this. A guy named Charles comes to mind.

So I hate to say it, but I lost faith in Paycoin as soon as I read the news, and have been selling my hahslets since.

I hope that I am wrong in my assessment, but i rather make sure I come out on top than just hoping to get rich on money from thin air."

[raskul]

i am glad that people who are invested in this scam are finally seeing the truth of the matter.

[T0urist]

i am glad that people who are invested in this scam are finally seeing the truth of the matter.

Do you think when it collapses all the people here defending GAW will apologise? I somehow think the ones that made out good at the expense of others will defend GAW even after this time. I kinda feel like shit myself knowing i broke back even on other people. My 10% market loss buy in was only made right back to me by someone paying higher for my prime hashlets.

I'm going to make a prediction for the hashlet primes as well lets see if i am getting josh's mindset down now. The hashlet primes are a liability to mining... they need to be removed from the equation. The BTC rewards will lower on the pools to make primes unfeasible on an ROI, this will be blamed on the deals being unable to be upheld.... but as a reward josh will ensure the hashlet primes can be upgraded to "hashstaker primes" It will only cost a small amount of BTC per prime and it will be a staker like no other. Its reward is higher because of either a rate or put 1 paycoin in and it stakers at 5 times the rate. Of course you won't be forced to upgrade the prime to a hashstaker prime but if you don't you get small rewards from the zen and other pools so naturally you'll want to because paycoin is going to the moon. It'll be a one way conversion process... no going back.

This is the time for people to sell up on primes.. if you want to exit do it just after the prime upgrade.. the faithful will flurry to the market buying them up in madness... there is already faith dropping. Over 621 entries for primes on the market.

The end goal here is to remove mining from the picture and replace it with staking... staking requires NO energy just some smart algo's on the webserver to give coins to people from a premine. The open source of paycoin will show the truth but i'm doubting the source will be released.

[organizer]

BTW that "cantor guy" has been invested in Josh's ventures since he was in highschool. I really doubt he's involved otherwise he would have informed Josh quite early that he's been selling unregistered securities (and breaking a plethora of other laws/regulations).

Yeah, I thought I read somewhere else (in this thread or Reddit??) that he was Josh's father-in-law... which makes sense for him to be involved in every company Josh has tried... hey, more power to him to marry rich.. ladies, i'm available to be funded too...

I can see Cantor putting VC dollars into GAW the ASIC reseller, VC money isn't really the smartest money in the room. But I dunno if even VCs would support an alt-coin who's very tenants go against most of the principals of crypto (i.e. centralization, etc.).

But you'll notice one thing Josh is really good at throwing out big, vague statements that really don't tell you anything and let's his fans fill in the gaps and build whatever wild narrative they want and Josh lets the speculation go wild... But, to his detriment (which I think will bite him in the ass) is that as CEO he's also making specific claims about value and future prices, etc. which is pretty irresponsible.

[vipgelsi]

Seems like a waste to me this whole new coin.

[jackbox]

Seems like a waste to me this whole new coin.

It's not a waste. It's a scam! (IMO of course).

[raskul]

Funny how things keep changing when all this is supposed to be set in the genesis block.

Which is likely currently staking for Josh on his laptop @ 9999% PA

[Melkunov]

@gwai said:

Would be nice to hear what the official statement is on PYC/paycoin as it has been steadily rising on the speculation?


Meeting with most of the exchanges this week. Since we own the copywrites, there are only a few options.

.....But you catch more flies with honey

Follow me on Twitter - @gawceo

>copywrites

I refuse to believe this guy graduated high school, much less obtained hundreds of millions of dollars based on a white paper with tons of elementary errors similar to this one.

[Lorythril]

@gwai said:

Would be nice to hear what the official statement is on PYC/paycoin as it has been steadily rising on the speculation?


Meeting with most of the exchanges this week. Since we own the copywrites, there are only a few options.

.....But you catch more flies with honey

Follow me on Twitter - @gawceo

>copywrites

I refuse to believe this guy graduated high school, much less obtained hundreds of millions of dollars based on a white paper with tons of elementary errors similar to this one.

Seems like PYC will probably see a bump from the name confusion. Unless they buy every coin out of existence, it will always be an issue

[seedtrue]

@gwai said:

Would be nice to hear what the official statement is on PYC/paycoin as it has been steadily rising on the speculation?


Meeting with most of the exchanges this week. Since we own the copywrites, there are only a few options.

.....But you catch more flies with honey

Follow me on Twitter - @gawceo

>copywrites

I refuse to believe this guy graduated high school, much less obtained hundreds of millions of dollars based on a white paper with tons of elementary errors similar to this one.

Seems like PYC will probably see a bump from the name confusion. Unless they buy every coin out of existence, it will always be an issue

Not really, PYC is just another shitcoin. We have seen recycled names with trashcoins before.