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

[jimlite]

Man, these poor fools are getting clowned hardcore with these silly announcement pumps. I watched this shit all day and no decent Buy Bids were accumulating. At all. And then the asshole has this weird announcement that he has to create coins so that he can destroy them, then does a blatant pump and draws up a solid ~3,000 Buys into the .00325 range and BAM! Puts them in his pocket. What a bunch of SUCKERS!

You are assuming waaayyy too much. You are assuming Homero has trading knowledge and skills,
which he does not. His coin is bad because it was heavily premined, staked, and he failed to deliver
on about everything he claimed, not because he is manipulating the market as a master trader.

[1714530692]

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[1714530692]

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[1714530692]

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[suchmoon]

If you bought and held PayCoin at any time before this moment, you have lost money. Only traders have made money playing the market and Josh dumping all his compounding premined Coins.

There's also the weird blip in all of this of the hashpoint conversion. If you have Paycoins from the hashpoint conversion, they're still worth more than if you had "mined" BTC instead of getting hashpoints. I think Paycoins would have to dip below 50 cents for the hashpoint "mining" to have not been worth it.

How did you come up with that number?

I think that number is wrong. At the time of Hashpoint introduction, after Zenpool payouts crashed you could still get ~0.0002 BTC per MH/s after fees, i.e. 0.07-0.08 USD (BTC was at $350-400 then). Instead you were given 20 HP i.e. 0.05 XPY. So the breakeven point should be 0.07 / 0.05 = $1.40.

Edit: this doesn't take into account the grossly inflated hashlet prices that were based on the $20 floor assumption. If you paid $10 for a Zen and converted it into a worthless HashStaker then breakeven is ~$4-5 per XPY I think, and a lot higher for Primes, which cost 5x more and are now almost equally worthless.

[bumpershot]

I think that number is wrong. At the time of Hashpoint introduction, after Zenpool payouts crashed you could still get ~0.0002 BTC per MH/s after fees, i.e. 0.07-0.08 USD (BTC was at $350-400 then). Instead you were given 20 HP i.e. 0.05 XPY. So the breakeven point should be 0.07 / 0.05 = $1.40.

I was just quickly estimating in my head, and I went with .0001 BTC per MH/s just from memory, which is probably wrong. I was also assuming that the proceeds were kept in BTC, so I was using BTC current value. (.0001 * 240) / .05 < .5.

I definitely trust your estimate of .0002 BTC per MH/s more, as mine was just from recollection.

[kken01]

In fact the limit on size of the IPV4 address space *is* the main reason for migrating to IPV6. That's not going to happen overnight but it's happening (contrary to what someone said yesterday) and will continue to happen.

In the analogy, the general categories being compared are cryptocurrencies and the internet. Bitcoin, litecoin, peercoin, ethereum, etc. are implementations of cryptocurrencies. NPC, IPV4, IPV6, etc., are implementations of internet protocols. So Bitcoin is like NPC in this analogy. IPV4 replaced NPC for good reasons, just as IPV6 will eventually overtake IPV4 for good reasons.

Bitcoin won't be that hard to replace when the time comes. It won't happen overnight, but the hard part is getting exchanges and payment processors and businesses set up to handle crypto. Most of that infrastructure already supports multiple cryptos, not just bitcoin.

A better analogy is to social networking sites. The infrastructure that allowed people to use social networking sites cost a lot of money to build, and it took time to grow the market to the point where the general public was aware of it and starting to use it. And changing wasn't easy. If you had a geocities page and wanted to move to friendster without losing your content, there was no easy way to do it. But then once all of that was in place and the market was big enough, competition exploded because the infrastructure and public awareness were ready. That's what the future of crypto will look like, IMO.

Lets ignore any technical facts for a moment. since they will skew these basic assumptions regardless of technology:

if you take a look at that paper i posted about success of forking, you are right that more (2x) often forking (specially networking/p2p) will end up killing or making the parent obsolete. but in my opinion for cryptocurrency we have to take in account few other facts that dont plague other areas

1. each time there is a scam within btc (exchanges probably being biggest) it drains the trust and adoption rate of btc AND all successful alt coins
2. each time there is a failed alt coin it drains trust and adoption of btc and all other alt coins
3. each time there is a scam coin or scam within an alt coin it drains trust and adoption of all others

there is just too much money floating around. all these negative feedback loops make forking of btc very hard the more time passes. there is a master thesis in the works that looks at this aspect of cryptos

if i would have to bet money i would bet on btc absorbing ideas or totally new fork into it. the idea of an alt coin might become too tainted to be even considered when implementing stuff even if the infra already would accept one.
its kinda sad since we know that forking increases innovation by ten fold

edit: and some good news poopcoin is going to hit all time lows

[Crestington]

If you bought and held PayCoin at any time before this moment, you have lost money. Only traders have made money playing the market and Josh dumping all his compounding premined Coins.

There's also the weird blip in all of this of the hashpoint conversion. If you have Paycoins from the hashpoint conversion, they're still worth more than if you had "mined" BTC instead of getting hashpoints. I think Paycoins would have to dip below 50 cents for the hashpoint "mining" to have not been worth it.

That's still the one part of this that gives me a bit of pause. That hashpoint conversion cost him money, as it released Paycoins into the market depressing the price, and it gave tons of people a way to break even, or even make some profit, at his expense. It's the one thing that makes me think that all of this fraud wasn't really meant to be a scam. That he really thought these lies would lead to everyone making money.

Or it could have been a confidence trick. IDK. It still stands out, though.

I kinda think it wasn't even supposed to be a scam in the first place but to make it really worthwhile to the people running it but negating the fact that it all depends on constant buying so it naturally goes against the market and that it seems like no one likes working with Josh and he owns all the hashstakers. I am reading that everyone but Josh and one other guy are still running the Coin and Josh is nowhere to be found. This whole situation seems weird to me because there is so much interest in Cryptocurrencies as whole that you wouldn't even have to scam people, just work hard and eventually you'll get there. And what's this about Josh Garza not even being his real name? Who is Carlos Ganza? I made you guys a little summery for your thread and hope you like it.

[5ick3uffalo]

could be wrong but followed this thread quite awhile now but not all of it but i tink it´s like that:

Carlos Ganza = Josh Homero Garza


"Ganza" because seriousinvestor (think he´s banned at HT now) called him Ganza in nearly all of his posts (great comedy)

And Ganza = Marihuana

Carlos =  Josh Homero Garza`s brothers name

[Crestington]

could be wrong but followed this thread quite awhile now but not all of it but i tink it´s like that:

Carlos Ganza = Josh Homero Garza


"Ganza" because seriousinvestor (think he´s banned at HT now) called him Ganza in nearly all of his posts (great comedy)

And Ganza = Marihuana

Carlos =  Josh Homero Garza`s brothers name

Ok you totally lost me

So who is who here?

I thought it was "Josh Garza, GAWD among men"? lol

Maybe I'm out of the loop?

[geegaw]

http://pastebin.com/srQawuAE

197.>>>>>>>> Please make note that the money ur receiving from
198.>>>>>>>> A company called basar Middle East.

http://www.basarworld.com/
http://www.basarglobal.net/contact_us.htm


359.>>>>>>>>>>>>>>> fahad.reshamwala@hotmail.com for 250MH/S for =
360.4000dollars.


550.>>>>>>>>>>>>>>>>>>>>> Hi Carlos,
551.>>>>>>>>>>>>>>>>>>>>>=20
552.>>>>>>>>>>>>>>>>>>>>> The email ids goes as follows
553.>>>>>>>>>>>>>>>>>>>>>=20
554.>>>>>>>>>>>>>>>>>>>>> fahad.reshamwala@hotmail.com ( 1000mhs )

https://ae.linkedin.com/pub/fahad-reshamwala/21/839/108

555.>>>>>>>>>>>>>>>>>>>>>=20
556.>>>>>>>>>>>>>>>>>>>>> Umair@livingstones.in   (1000 mhs)
557.>>>>>>>>>>>>>>>>>>>>>=20
558.>>>>>>>>>>>>>>>>>>>>> aanshjagwani@gmail.com (500 mhs)

https://twitter.com/aanshj

559.>>>>>>>>>>>>>>>>>>>>>=20
560.>>>>>>>>>>>>>>>>>>>>> tarun_chhabria@hotmail.com (500mhs)

https://twitter.com/tarun_chhabria

561.>>>>>>>>>>>>>>>>>>>>>=20
562.>>>>>>>>>>>>>>>>>>>>> Rishikesh_dixit@hotmail.com (125mhs )

https://www.zaubacorp.com/company/DIXIT-GLOBINN-SERVICES-PRIVATE-LIMITED/U55204MH2012PTC226850

563.>>>>>>>>>>>>>>>>>>>>>=20
564.>>>>>>>>>>>>>>>>>>>>> Dj.ankit@gmail.com(125mhs)

https://www.facebook.com/Official.Dj.ankit

565.>>>>>>>>>>>>>>>>>>>>>=20
566.>>>>>>>>>>>>>>>>>>>>> Huzefa@livingstones.in (350mhs)
567.>>>>>>>>>>>>>>>>>>>>>=20
568.>>>>>>>>>>>>>>>>>>>>>=20
569.>>>>>>>>>>>>>>>>>>>>> Making it a total of 3600mhs for 46944 dollars.


570.>>>>>>>>>>>>>>>>>>>>>=20


571.>>>>>>>>>>>>>>>>>>>>> Kindly email the links to the respective email =


572.ids.

[SockPuppetAccount]

Well that was fun.  You guys aren't kidding about how fast and furious the deletions and bans come around that place.  Here are the results of my short lived adventure into the wacky world of HT.

https://archive.today/6xM6b

[Paul Revere]

Well that was fun.  You guys aren't kidding about how fast and furious the deletions and bans come around that place.  Here are the results of my short lived adventure into the wacky world of HT.

https://archive.today/6xM6b

BaHaHA! I like the "Pretending to care is Josh's job".  

Here are a couple more beauties from HT land this morning in the https://hashtalk.org/topic/32170/let-s-squash-the-inflation-theories/117 thread.



Marousi: SELLL! Get out with what you can NOW! Josh(GAWCEO-whoever it is): NOO! Don't do THAT! I might make a MASSIVE ANNOUNCEMENT today! Reaction from the remaining faithful: Boy Oh BOY! An ANNOUNCEMENT! Goody Goody!    




Where mah announcment!?     Chumped like a fucking Bitch! Cmon asshole, it is all you have left, toss out an empty announcement. They are FREE afterall.

Then there is this lost person from yesterday:


Utterly convinced that merchants are a black hole that makes coins go buhbyes forever. These idiots can not grasp that merchants accepting crypto = dumping back into market. And merchants tend to not wait to draw out high bids, they dump NOW at whatever bids are available, which is even stronger downward price pressure than your regular dump from a holder trying to cash out.

Edit to add this one:


Y U NO Believe man behind curtain not Josh!?   Maybe Josh has been taking a crash course in English and also suddenly gained several dozen IQ points to boot...

[Paul Revere]

I saw that post , too. It is actually Indonesian and makes sense after translating. I"suspect" maybe it is someone goofing, but it could actually be someone from Indonesia.

[siampumpkin]

This is the most coherent post I've ever read at Hashtalk.

I think that is the mathematical formula for the hyperflex drive nuclear block chain!

[Paul Revere]

Another one rides the bus   :



This guy started writing something close to making sense about a week or so ago, surprised he lasted this long. Guess he can grab a seat on the bus next to XPY4Coffee...

[strangerdanger101]

Another one rides the bus   :



This guy started writing something close to making sense about a week or so ago, surprised he lasted this long. Guess he can grab a seat on the bus next to XPY4Coffee...

RIP sparky.

[Phildo]

If you bought and held PayCoin at any time before this moment, you have lost money. Only traders have made money playing the market and Josh dumping all his compounding premined Coins.

There's also the weird blip in all of this of the hashpoint conversion. If you have Paycoins from the hashpoint conversion, they're still worth more than if you had "mined" BTC instead of getting hashpoints. I think Paycoins would have to dip below 50 cents for the hashpoint "mining" to have not been worth it.

That's still the one part of this that gives me a bit of pause. That hashpoint conversion cost him money, as it released Paycoins into the market depressing the price, and it gave tons of people a way to break even, or even make some profit, at his expense. It's the one thing that makes me think that all of this fraud wasn't really meant to be a scam. That he really thought these lies would lead to everyone making money.

Or it could have been a confidence trick. IDK. It still stands out, though.

I kinda think it wasn't even supposed to be a scam in the first place but to make it really worthwhile to the people running it but negating the fact that it all depends on constant buying so it naturally goes against the market and that it seems like no one likes working with Josh and he owns all the hashstakers. I am reading that everyone but Josh and one other guy are still running the Coin and Josh is nowhere to be found. This whole situation seems weird to me because there is so much interest in Cryptocurrencies as whole that you wouldn't even have to scam people, just work hard and eventually you'll get there. And what's this about Josh Garza not even being his real name? Who is Carlos Ganza? I made you guys a little summery for your thread and hope you like it.

If it wan't a scam from day 1 it was scam very early on. The "amps" and "boosts" are impossible. The first second they sold hashpower they didn't have or gave out coins that they didn't mine they were scamming. It doesn't matter how many tricks they pulled or opportunities for "profit" that developed throughout the course of this shitshow. They sold miners, they never showed they were mining, they were scamming.

[Crestington]

If you bought and held PayCoin at any time before this moment, you have lost money. Only traders have made money playing the market and Josh dumping all his compounding premined Coins.

There's also the weird blip in all of this of the hashpoint conversion. If you have Paycoins from the hashpoint conversion, they're still worth more than if you had "mined" BTC instead of getting hashpoints. I think Paycoins would have to dip below 50 cents for the hashpoint "mining" to have not been worth it.

That's still the one part of this that gives me a bit of pause. That hashpoint conversion cost him money, as it released Paycoins into the market depressing the price, and it gave tons of people a way to break even, or even make some profit, at his expense. It's the one thing that makes me think that all of this fraud wasn't really meant to be a scam. That he really thought these lies would lead to everyone making money.

Or it could have been a confidence trick. IDK. It still stands out, though.

I kinda think it wasn't even supposed to be a scam in the first place but to make it really worthwhile to the people running it but negating the fact that it all depends on constant buying so it naturally goes against the market and that it seems like no one likes working with Josh and he owns all the hashstakers. I am reading that everyone but Josh and one other guy are still running the Coin and Josh is nowhere to be found. This whole situation seems weird to me because there is so much interest in Cryptocurrencies as whole that you wouldn't even have to scam people, just work hard and eventually you'll get there. And what's this about Josh Garza not even being his real name? Who is Carlos Ganza? I made you guys a little summery for your thread and hope you like it.

If it wan't a scam from day 1 it was scam very early on. The "amps" and "boosts" are impossible. The first second they sold hashpower they didn't have or gave out coins that they didn't mine they were scamming. It doesn't matter how many tricks they pulled or opportunities for "profit" that developed throughout the course of this shitshow. They sold miners, they never showed they were mining, they were scamming.

Hey, Josh still has an unlimited compounding supply he can dump on the market but I also said this nearly 2 months ago

Code:

static const int64 MAX_MONEY = 2000000000 * COIN;
static const int STAKE_START_TIME = 1418470264; // Sat 13 Dec 2014 06:31:04 AM EST
static const unsigned int POW_START_TIME = 1418403600; // Fri 12 Dec 2014 12:00:00 PM EST
static const unsigned int POW_END_TIME = 1419181200; // Sun 21 Dec 2014 12:00:00 PM EST

2,000,000,000 total coins with 12,000,000 premine, current total coins 12,375,656. Means 375,656 POW but we have to minus the large POS blocks and early POW blocks (ill get to that).

Now I dont know the specs but I seen 500,000 XPY was the apparent POW supply which was incorrect and deliberately coded incorrectly to allow less POW blocks then indicated. If you were to allow a certain number of blocks you would allocate the POW change to block height, no time. By using Ntime you will usually a) confuse users as you are only estimating and b) always get it wrong. Block times are averages and using time instead of height is a deliberate method to reduce total coins. Now if we look at the stake start times, once again should be based off height not time, POS kicked in the day after launch. This then ensures less POW blocks are generated and more POS blocks, once again reducing total coins allocated to POW as more POW blocks are mined before the POW cut off time. Now even if total coins for the POW stage are not pre-announced, this method is what most devs use to allocate a greater % of total coins vs what they advertise.

Now 375,656 POW coins is fine I guess until we look at the POS blocks generated. So between block 9180 and 9229, 13,000 XPY were generated through POS. Between block 14200 and 14000, another 18,000 XPY were generated. When POW was disabled, we had a total count of 12,343,000 or 343,000 coin POW phase. Since that POW phase has ended a total of 33,800 XPY have been staked with all 32,700 XPY going to POS on premined coins and addresses, with only 900 XPY to the 341,000 POW owners. This is based on the code below and looking through the block explorer.

Stake Min and Max Age

Code:

static const int STAKE_MIN_AGE = 60 * 60; // minimum age for coin age
static const int STAKE_MAX_AGE = 60 * 60 * 24 * 5; // stake age of full weight

Primenode Requirements.

Code:

static const int64 NUMBER_OF_PRIMENODE = 50;
static const int64 MINIMUM_FOR_ORION = 50 * COIN;
static const int64 MINIMUM_FOR_PRIMENODE = 125000 * COIN;

Primenode Rewards.

Code:

if (primeNodeRate == 0)
        nRewardCoinYear = 5 * CENT;
    else if (primeNodeRate == 10)
        nRewardCoinYear = 10 * CENT;
    else if (primeNodeRate == 20)
        nRewardCoinYear = 20 * CENT;
    else if (primeNodeRate == 100)
        nRewardCoinYear = 100 * CENT;
    else if (primeNodeRate == 350)
        nRewardCoinYear = 350 * CENT;

Now using the previous figures, lets take a look at the yearly projection using the base that POS stage is 10 days old.

Primenode yearly POS XPY count 32,700 XPY * 36.5= 1,193,500 XPY (Total (BTC)51797.88806500)

POW nodes yearly POS XPY count 900 * 36.5= 32,850 XPY. (Total (BTC)1425.68967150)


As long as these match up to the projections and pre announcements, who cares I guess. These numbers are not 100% accurate, check the block explorer for an exact amounts.

Wow!

Talk about Ponzi!

With 5 days maximum age that means it limits all the smaller Blocks. The Coins from the premine will always push out the small players as those Coins that DO stake, compound with interest.

To limit the smaller Blocks can be good for the Coin, but you need a balance where the average person CAN stake their Coins.

This means that GAW has a nearly unlimited supply of Coins they can dump on the market.

[toknormal]

Dumping...

[strangerdanger101]

Dumping...

[DaveWave]

I was expecting to see some support at 0.03 but it's just fallen straight through it.

[Paul Revere]

Dumping...

Yep, they just grabbed that wall @ .0030 and stuffed it in their pocket. Thin bids below this level. I was considering putting in a buy @ that .0030 wall, but I have a funny feeling the price may continue to slide today. I think I will sit this one out and wait for the next new "normal" level before I ride the turdwagon again.