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

[bitpop]

I use Bitcoin charts as porn, I print them on my dot matrix in color! Those ribbons are very very expensive and rare.

Add some WD-40, slowly reink yourself.

But still less than inkjet: http://www.tonermonkey.com/apple/appleribbon02.htm or http://www.amamax.com/coacoricarea.html

That's nuts. I pay $0.25 for a burger!

[1714547992]

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[kken01]

http://www.irs.gov/Charities-&-Non-Profits/Search-for-Charities
someone should revisit this often and once they see this new 501c3 running here is the form to report fraud
http://www.irs.gov/pub/irs-pdf/f13909.pdf

edit:

The foundation is not currently accepting fiat donations due to its pending 501c3 status

they keep posting on HT forums how they are non-profit foundation

NON profit = they cannot declare profit/dividends.. they can make money, get large salaries and expenses and INVEST any surpluses they make.

can a non-profit that does not have 501c3 status recieve 10mil xpy and pay no taxes? clearly they cant accept fiat as donation
their request is pending. im guessing they are trying to get it by saying its an educational effort


CRS Report for Congress
Prepared for Members and Committees of Congress
501(c)(3) Organizations: What Qualifies as
“Educational”?

The term “educational” is not defined in the Internal Revenue Code (IRC). It is defined by
regulation to encompass individual instruction, as well as public instruction “on subjects useful to
the individual and beneficial to the community.”

The question here is how far can the term “educational” be extended? Can a group espousing a
viewpoint (i.e., only one side of an issue) be characterized as educational? If so, does the group
have to provide factual information to support its statements? Is there some standard for
truthfulness and accuracy?

The answers are rooted in a Treasury regulation, which provides that an organization that
advocates a position or viewpoint can qualify as educational if it presents “a sufficiently full and
fair exposition of the pertinent facts” so that people can form their own opinions or conclusions.
To supplement the regulation’s “full and fair exposition” standard, the Internal Revenue Service
(IRS) has developed the “methodology test.” Under it, a method is not “educational” if it fails to
provide a “factual foundation” for the position or viewpoint or “a development from the relevant
facts that would materially aid a listener or reader in a learning process.”

•
a significant portion of the group’s communications consists of the presentation
of viewpoints or positions that are unsupported by facts;
•
facts that purport to support the viewpoints or positions are distorted;
•
the group’s presentations make substantial use of inflammatory and disparaging
terms and express conclusions based more on strong emotional feelings rather
than objective evaluation; and
•
the presentation’s approach is not aimed at developing the audience’s
understanding of the subject matter because it does not consider their background
or training.
 

well thats not gonna go over well

[qwerty555]

http://www.irs.gov/Charities-&-Non-Profits/Search-for-Charities
someone should revisit this often and once they see this new 501c3 running here is the form to report fraud
http://www.irs.gov/pub/irs-pdf/f13909.pdf

edit:

The foundation is not currently accepting fiat donations due to its pending 501c3 status

they keep posting on HT forums how they are non-profit foundation

NON profit = they cannot declare profit/dividends.. they can make money, get large salaries and expenses and INVEST any surpluses they make.

can a non-profit that does not have 501c3 status recieve 10mil xpy and pay no taxes? clearly they cant accept fiat as donation
their request is pending. im guessing they are trying to get it by saying its an educational effort

I doubt they have 10M xpy if any at this point. If their 501c3 is eventually approved the founders and others could donate XPY and when that is sold it could well be tax free ( big advantage on Capital gains). The use proceeds to fund legitimate expenses  Like cars jets? LOL food gas and invest in things that will benefit in other ways.

https://www.google.com/search?num=30&q=charity+racket&oq=charity+racket&gs_l=serp.3...696461.703474.0.704442.56.20.0.0.0.0.0.0..0.0.msedr...0...1c.1.62.serp..56.0.0.nNBV00n-UlM

50 worst in USA

http://www.tampabay.com/americas-worst-charities/

and some of the best

http://givalike.org/Nonprofit-Directory/Certification/CharityWatch-Top-Rated/5

[kken01]

wow thats crazy

[bitpop]

Time to get in on paycon. We just got 600% roi! CON will soon be accepted by Amazon, Walmart and target. I'm scheduled for a cnn interview tonight. Currently waiting for Anderson Cooper. Tweeter josg2159

[rawbot]

You guys are allowing Vlad2Vlad to derail this discussion from "How to we bring down Josh Garza, Gaw, Paycoin?"  to "What are the merits of paycoin." You should know better than to fall for this shit after 1150 pages.


Very disappointing.  If I wanted to read such a discussion I would go to hashtalk.

[getrichdietryin]

Time to get in on paycon. We just got 600% roi! CON will soon be accepted by Amazon, Walmart and target. I'm scheduled for a cnn interview tonight. Currently waiting for Anderson Cooper. Tweeter josg2159

only f it were true

[cryptodevil]

You guys are allowing Vlad2Vlad to derail this discussion from "How to we bring down Josh Garza, Gaw, Paycoin?"  to "What are the merits of paycoin." You should know better than to fall for this shit after 1150 pages.


Very disappointing.  If I wanted to read such a discussion I would go to hashtalk.

This isn't a discussion on 'bringing him down' this is discussion exposing just how ludicrous the whole Homeroshambles situation is.

Otherwise you're playing into his claims that there is 'conspiracy' to blame for its failings.

[bitpop]

Time to get in on paycon. We just got 600% roi! CON will soon be accepted by Amazon, Walmart and target. I'm scheduled for a cnn interview tonight. Currently waiting for Anderson Cooper. Tweeter josg2159

http://i2.wp.com/i2.cdn.turner.com/cnn/2011/images/01/05/cnn.atlanta.new.studio.jpg?zoom=4&w=300

http://i.guim.co.uk/static/w-460/h--/q-95/sys-images/Guardian/Pix/pictures/2011/9/13/1315918859375/Anderson-Cooper-008.jpg

omg no way its finally happening for you I'm so jealous let me know if Anderson is a nice person in real life and not just on T.V

It turned out my interview was at ccn and Anderson kicked me out.

[Crestington]

Time to get in on paycon. We just got 600% roi! CON will soon be accepted by Amazon, Walmart and target. I'm scheduled for a cnn interview tonight. Currently waiting for Anderson Cooper. Tweeter josg2159

http://i2.wp.com/i2.cdn.turner.com/cnn/2011/images/01/05/cnn.atlanta.new.studio.jpg?zoom=4&w=300

http://i.guim.co.uk/static/w-460/h--/q-95/sys-images/Guardian/Pix/pictures/2011/9/13/1315918859375/Anderson-Cooper-008.jpg

omg no way its finally happening for you I'm so jealous let me know if Anderson is a nice person in real life and not just on tv thanks

I'm pretty sure he's a bit of a dick in real life.

I've got it on good authority that PayCon is the place to be, there is nothing like EVERYONE getting 500% per year and not just a few people Of course that is just an estimation since Staking works in a similar way to POW in that the reward is the same for every Block and your reward per year is based on your Staking activity.

[vancefox]

I just noticed the XPY inflation rate is 10% APY [Annual Percentage Rate].

So the 10% monthly inflation rate, quoted earlier by someone is obviously wrong and way off.  So a $20 or $50 price floor can be sustained if Garza has a real business plan with positive cash-flows.

I am starting to question your ability to understand code...  Below is a quick and dirty explanation why your 10% inflation rate statement is well... bullshit. (Oh and it was posted Jan 5th...)

If you can't do the math, let me know...  Here's a hint though... it has something to do with compounding and differing exponential increases...

Could you elaborate in details from the Paycoin's code, that make you think so...

Thanks,

ZiG

I already did in this thread on one of the more important ones... but I'll summarize it:

1) Orion Controllers require a hard fork to get what they're advertised.  Currently the tx fees are destroyed and they're supposed to go to the Orion Controllers and Prime Nodes as an added "payment" for holding x # of coins.  This isn't too big of a red flag in itself but to spend "months" on a coin release and have "professional" devs build your coin only to have something as trivial as transaction fees being destroyed when they're not supposed to be is, in my opinion, weak.

2) The wallet release was so horrid that there are still constant posts on HashTalk and poor souls entering the realm of IRC looking for help.  Some had such a fucked up wallet that their coins were actually locked up in that piece of shit and they couldn't do anything about it without help.  It was very obvious that there was very little, if any, GAW support for their qt wallet release as well as very little "non-zencloud" expertise among the gawlets themselves.  Thousands of coins were, and possibly still are, at the mercy of good-hearted souls to recover.

3) Prime Nodes... 49 prime nodes that have stake rates of 10% (3 wallets), 20% (2 wallets), 100% (10 wallets), and 350% (35 wallets).  Each of the pub keys in those lists are linked to a priv key (not a paycoin address key btw so this was literally built to be anonymous as to which wallet gets what until the blockchain shows through the transaction) that tells the wallet to say it is a prime node.

One thing is that there are 49 prime nodes but 50 keys.  The extra key could be anything from 10-350% but I'm going to assume that it's a 350% key that's the odd man out.  This means that most likely there is an extra priv key for whoever Josh picks (who do you think Josh will pick to possess that key?) to possess it that stakes higher than the rest of the network suckers.

Just an fyi: The normal staking rate for Paycoin (XPY) is 5%.  This means that there will be extreme and unbalanced hyperinflation affecting this coin shortly after the 35 350% prime nodes start dumping/selling/trading their enormous stakes.

4) Revalation noted that there was additional code that I didn't see.  I have looked at the code and verified that the additional line @ L974 gives additional numbers that just, well, hide in plain sight how the interest is actually calculated each coin day.

Code:

33 / ( 365 * 33 + 8) = 0.00273790757487762382809259105617

Daily Rate * 350 = 0.95826765120716833983240686965901
Daily Rate * 100 = 0.27379075748776238280925910561686
Daily Rate * 20  = 0.05475815149755247656185182112337
Daily Rate * 10  = 0.02737907574877623828092591056169
Daily Rate * 5    = 0.01368953787438811914046295528084

So above you will see the daily stake rates for all "tiers".  If that doesn't show that there will be unequal inflationary pressure on this coin, then nothing will.


So there are 4 specific reasons why I can not approve of, recommend, or support this coin.

In my opinion, it is not a question of if it will fail... it will fail and it's just a question of when.

[vancefox]

Vlad2Vlad,

I have to say, I am greatly disappointed in your responses within the last 5ish pages in this thread. Very sad....

So are you disappointed enough to delete my posts and ban me [if you could]?

Cause that would disappoint me.

Give it a month or two and let's see if I'm a mindless pumping shill or if I know what I'm talking about.

Then you can pass judgement. 

But just like all the other coins I invest in and talk about, I'm openly honest and I put my money where my mouth is.  Sadly, I've only had 4 Bitcoins to invest in XPY.  Bought 1 BTC worth at .0045 and then 3 BTC worth at around .0029999.

Not a big investment but it could be big if my $20-$50 prediction comes true.


Good luck!

You do realize that Josh & Co have had many months to show they know what they're talking about...  Or did the world just start yesterday for you?

[vancefox]

Pretty cool updates if I have to say, they have an online staking wallet now fully setup at wallet.paycoin.com

That apparently isn't coded properly...

http://forum.gethashing.com/t/xpy-paycoin-discussion/90/11513

[vancefox]

You guys are allowing Vlad2Vlad to derail this discussion from "How to we bring down Josh Garza, Gaw, Paycoin?"  to "What are the merits of paycoin." You should know better than to fall for this shit after 1150 pages.


Very disappointing.  If I wanted to read such a discussion I would go to hashtalk.

This isn't a discussion on 'bringing him down' this is discussion exposing just how ludicrous the whole Homeroshambles situation is.

Otherwise you're playing into his claims that there is 'conspiracy' to blame for its failings.

And this is also uncensored.  Even is Josh himself wants to come and post it's not going to get deleted.  It's called an open forum... something you'll never get on HT.

Vlad2Vlad can post all he wants... idiotic posts will get dis-proven...

[bitpop]

Pretty cool updates if I have to say, they have an online staking wallet now fully setup at wallet.paycoin.com

That apparently isn't coded properly...

http://forum.gethashing.com/t/xpy-paycoin-discussion/90/11513

It'd be pretty funny if Homero was also stealing their xpy

[strangerdanger101]

Time to get in on paycon. We just got 600% roi! CON will soon be accepted by Amazon, Walmart and target. I'm scheduled for a cnn interview tonight. Currently waiting for Anderson Cooper. Tweeter josg2159

http://i2.wp.com/i2.cdn.turner.com/cnn/2011/images/01/05/cnn.atlanta.new.studio.jpg?zoom=4&w=300

http://i.guim.co.uk/static/w-460/h--/q-95/sys-images/Guardian/Pix/pictures/2011/9/13/1315918859375/Anderson-Cooper-008.jpg

omg no way its finally happening for you I'm so jealous let me know if Anderson is a nice person in real life and not just on T.V

It turned out my interview was at ccn and Anderson kicked me out.

Easy come easy go.

[Crestington]

I just noticed the XPY inflation rate is 10% APY [Annual Percentage Rate].

So the 10% monthly inflation rate, quoted earlier by someone is obviously wrong and way off.  So a $20 or $50 price floor can be sustained if Garza has a real business plan with positive cash-flows.

I am starting to question your ability to understand code...  Below is a quick and dirty explanation why your 10% inflation rate statement is well... bullshit. (Oh and it was posted Jan 5th...)

If you can't do the math, let me know...  Here's a hint though... it has something to do with compounding and differing exponential increases...

Could you elaborate in details from the Paycoin's code, that make you think so...

Thanks,

ZiG

I already did in this thread on one of the more important ones... but I'll summarize it:

1) Orion Controllers require a hard fork to get what they're advertised.  Currently the tx fees are destroyed and they're supposed to go to the Orion Controllers and Prime Nodes as an added "payment" for holding x # of coins.  This isn't too big of a red flag in itself but to spend "months" on a coin release and have "professional" devs build your coin only to have something as trivial as transaction fees being destroyed when they're not supposed to be is, in my opinion, weak.

2) The wallet release was so horrid that there are still constant posts on HashTalk and poor souls entering the realm of IRC looking for help.  Some had such a fucked up wallet that their coins were actually locked up in that piece of shit and they couldn't do anything about it without help.  It was very obvious that there was very little, if any, GAW support for their qt wallet release as well as very little "non-zencloud" expertise among the gawlets themselves.  Thousands of coins were, and possibly still are, at the mercy of good-hearted souls to recover.

3) Prime Nodes... 49 prime nodes that have stake rates of 10% (3 wallets), 20% (2 wallets), 100% (10 wallets), and 350% (35 wallets).  Each of the pub keys in those lists are linked to a priv key (not a paycoin address key btw so this was literally built to be anonymous as to which wallet gets what until the blockchain shows through the transaction) that tells the wallet to say it is a prime node.

One thing is that there are 49 prime nodes but 50 keys.  The extra key could be anything from 10-350% but I'm going to assume that it's a 350% key that's the odd man out.  This means that most likely there is an extra priv key for whoever Josh picks (who do you think Josh will pick to possess that key?) to possess it that stakes higher than the rest of the network suckers.

Just an fyi: The normal staking rate for Paycoin (XPY) is 5%.  This means that there will be extreme and unbalanced hyperinflation affecting this coin shortly after the 35 350% prime nodes start dumping/selling/trading their enormous stakes.

4) Revalation noted that there was additional code that I didn't see.  I have looked at the code and verified that the additional line @ L974 gives additional numbers that just, well, hide in plain sight how the interest is actually calculated each coin day.

Code:

33 / ( 365 * 33 + 8) = 0.00273790757487762382809259105617

Daily Rate * 350 = 0.95826765120716833983240686965901
Daily Rate * 100 = 0.27379075748776238280925910561686
Daily Rate * 20  = 0.05475815149755247656185182112337
Daily Rate * 10  = 0.02737907574877623828092591056169
Daily Rate * 5    = 0.01368953787438811914046295528084

So above you will see the daily stake rates for all "tiers".  If that doesn't show that there will be unequal inflationary pressure on this coin, then nothing will.


So there are 4 specific reasons why I can not approve of, recommend, or support this coin.

In my opinion, it is not a question of if it will fail... it will fail and it's just a question of when.

The 10% monthly inflation rate was not off at all, it was the actual increase in the supply in the last 30 days taken from the PayCoin Block explorer. Of course that is only what that amount is now as compounding increases exponentially over time.

Details for Block #43000

Hash  f7e6b80e196642323af5065d461c477b4798c1cb2cf3a3f4f37d6211c44d300c  
Date/Time 2015-01-23 00:35:37 extracted by Proof of Stake 
Transactions 2 
Value Out 250.146854 XPY 
Difficulty 0.00370488 
Outstanding 12,404,194.022704 XPY
Created 0.093088 XPY 

Details for Block #79143

Hash  7cb6a0d2ab9fc58a0d80c19ac4a2c042de1b8e45a4abc1793862986e7c2a94d2  
Date/Time 2015-02-24 12:57:56 extracted by Proof of Stake 
Transactions 3 
Value Out 1,807.449807 XPY 
Difficulty 0.01139952 
Outstanding 13,568,156.007803 XPY
Created 0.233091 XPY

[WaffleMaster]

I applaud you guys for combating Vlad's delusion after Homero bought him out by obviously paying him in Paycoin (lol nice one Vlad I have some monopoly money somewhere can I get you to do something for me?) as I would have gave up.

[kken01]

http://paycoinfoundation.org/press/
anyone else read this announcement?
at least they ran it trough a spellchecker but the structure is scattered and hard to read. every other sentence starts with "the foundation"

also its encouraging in-group/out-group set up ("Us Vs Them"  mentality) by saying rest of the crypto is corrupt to the core and seen in bad light by the public. exactly what Mr. Ganza has done from day 1. its easy to push for conformity once you have such group setup running with hard censorship. good example is HT forums

theres a mention of dev apis. apis for what? and where are they? i cant find anything

[vancefox]

The 10% monthly inflation rate was not off at all, it was the actual increase in the supply in the last 30 days taken from the PayCoin Block explorer. Of course that is only what that amount is now as compounding increases exponentially over time.

Look at what he stated:

I just noticed the XPY inflation rate is 10% APY [Annual Percentage Rate].

So the 10% monthly inflation rate, quoted earlier by someone is obviously wrong and way off.  So a $20 or $50 price floor can be sustained if Garza has a real business plan with positive cash-flows.

It's full of bullshit.

The additional fact that it's extremely exponential by design AND only for 50 wallets (35 specifically getting "350%") making it unequally hyper-inflationary makes the idea that it can be sustained absolutely ludicrous (my opinion on this one because it would take an exponentially increasing number of people and/or btc to sustain it, and not Josh & Co. since they wouldn't be buying XPY {that would make his "business" have negative revenue flow})