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

[Buckeye2015]

If Josh was smart he would on his way to UAE right now as he is SCREWED!

I suspect the people he has pissed off and the agencies that are interested in him, that part of the world is one of the more dangerous....

rendition isn't hard apparently

Wonder if he's on a no-fly list yet?  He was linked to people listed as funders of terrorism in the SEC document. Is there any site where you can check if you're on the no-fly lists?

[1715140364]

1715140364

[holdembot]

He probably charters private jets with all the money he got from the hashtards.

[ThePointlessOne]

Close enough?

http://www.no-fly-list.com/details/Josue_Garzaro

[maildir]

What went wrong


After we noticed many people selling XPY in the paybase market, Josh called and had us confirm there was not an issue with the system because of the rate at which people were selling XPY. After verifying there was no bug or issue with code, we began to evaluate changes that were made to the system before the update.




As you know, we released gift card purchasing in paybase. When someone purchases a gift card (by design) the XPY used to buy the gift card (from the users account) is then sold on the market by us, in order to re-fund our gyft account with BTC. This naturally drives the price of xpy down. Within the first 20 minutes of launch, 673 worth of XPY was used to purchase gift cards which was automatically sold on the market. This caused the price to drop from $3.48 to $2.94 in a short period of time. Immediately following, users realized they could buy any amount of xpy for around this $2.94 price (which is lower than any other exchange at the time). Users would then be able to withdraw the purchased xpy to another exchange and sell it for a higher value than they paid for it in paybase. They could also sell it in paybase for a little more than purchased for (if the value continued to drop) which is what happened. As the value continued to fall, the people that purchased instantly were then able to sell for more in other exchanges (causing the value to continue to drop).




1.

One way this could have been avoided is if we used other open market buy prices to calculate our "instant buy price" (which we were doing before because we did not have our own market). But since we want to be the market leader and have the most volume, we decided to have other markets "follow" us instead of us following them (by using our own buy price).




2.

Another way this could have been avoided is to have disabled the instant buy/sell before we released the update (but there wasn't enough thought on my end to foresee something like this happening).




3.

A third way this could have been avoided was to build our backend code to create open market buy orders when users bought instantly from us. We have planned to do this last week but ran into a road block when trying to integrate with the trading engine at the last minute and didn't have time to finish the code for this to be implemented before releasing. This was also stated in the sign-off form and labeled as a non critical issue because this is how instant buy has always worked from the beginning (so there was no change to the logic). We did not consider that the downward pressure on the market started by gift card purchases would create an arbitrage dream for bots (and humans) between markets.







Seeing this play out and after continuing to evaluate options and outcomes, it is easy to say that the XPY market depth just wasn't large enough in paybase yet to support a high rate of gift card purchases in a short period of time (at launch) which caused a chain reaction (snow-ball effect).




Lastly, knowing what I know now about the situation has forced me to re-evaluate the thoroughness in thinking through all market affecting outcomes before a feature launch. We spent a great deal of time testing the software, fixing bugs, testing again, and delaying the launch to continue testing. I spent a less amount of time focusing on how the new updates would affect the market if different scenarios were to happen. I learned that it is equally important to spend as much time running through scenarios and outcomes that could affect the market now that we run an open market with features inside the market that directly affect the value of the coin. Our system is more unique than others in that since tonight we now have internal features (besides instant buy/sell) that affect the value of xpy and these have to be considered when launching a new feature.




I take full responsibility for the lack of thoroughness in planning how new additions could have affected the open market.




Short term resolution:

We turned off instant buy/sell - Complete




Long term resolution:

We will be implementing #3 above - Early next week

- When instant buys are made, the application should immediately make a purchase in our open market in paybase




We will be turning back on instant buy/sell whenever #3 is complete.






--


Joe Mordica
CTO
GAW

22 Millbranch Rd. Ste 800

Hattiesburg, MS 39402

Anywhere: 601-602-5061

Fax: 413-206-7101

joe@gawlabs.com

 

 

[maildir]

Maybe want to track this...

Hey Joe,

Whenever you have a moment can you please make the following transfer:

Sale Amount: $13,206.12

XPY Value:    $3.32

XPY Amount: 4219.20

Wallet ID:  PEZsq8MhgJpoFt5KP5mhhEL9AFNgg12yny

Thank you


Best Regards,

Carlos Garza

Sales Channel Manager

GAW Miners LLC
O: (413)342-5380

[mutha]

Close enough?

http://www.no-fly-list.com/details/Josue_Garzaro

Nah couldnt be Joshypoo... says here this guy has a brain and its "Lobal-Dominated"

Joshypoo appears to not even have a brain stem muchless any brain lobes?  

[maildir]

 

Brian - we need to send a strong letter to this guy at coinmarketcap.com based on the fact that they are misrepresenting PayCoin's market cap because they are not taking into account the PayCoin being held by investors (approx. $12 million).  These coins are not "in reserve" but rather being held by investors and can be utilized at any time so they should be counted (for comparison it is being properly reflected on other exchanges such as https://chainz.cryptoid.info). 

We would like the letter to state that we would request that they correct this misrepresentation so that it is accurate, or in the alternative, immediately remove PayCoin from their index.  If neither of the foregoing actions are taken immediately there is potential significant financial risk/liability to our company from misleading the public.   


Give me a call if you want to further discuss.


Dave


David H. McLain, Esq.

General Counsel

Geniuses at Work Corporation / GAW Miners, LLC

Direct dial:  267-257-8945

[keshuker]

Wow every day when you think there can't be any new XPY surprises. BAM a huge email leak.

So much to catch up on, anyone seen any mails between badbitcoin and gaw already?


Edit:
So weird that on HT they are in lala land, everything is fine and noone seems to be even aware of these leaks

[maildir]

LOL @ Homero, hey why aren't positive comments being posted?

Code:

MIME-Version: 1.0
Sender: josh@geniusesatwork.com
Received: by 10.112.29.237 with HTTP; Thu, 18 Dec 2014 16:52:57 -0800 (PST)
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Date: Thu, 18 Dec 2014 19:52:57 -0500
Delivered-To: josh@geniusesatwork.com
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Message-ID: <CAFupydquF9jmLP9OTnHWXWaTmWM2fpn_2wuriZkspRa3utHOTQ@mail.gmail.com>
Subject: Re: Pyc
From: Josh Garza <josh@gaw.com>
To: Stan Higgins <stan@coindesk.com>
Cc: Christina Sarracino <christina@wisepublicrelations.com>
Content-Type: multipart/alternative; boundary=001a11406e76376e70050a8721a7

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Hi Stan,

I am getting reports from people that have made positive comments to your
article, put their post are not showing. Strangely, every post that has
been approved is negative.

Wanted to check with you before more people brought it up.


*Josh Garza*
*CEO- *GAW Corp

On Wed, Dec 17, 2014 at 10:14 AM, Josh Garza <josh@gaw.com> wrote:
>
> Sounds good, I wanted to give you the heads up. I would hate to see you
> guys report on that, without the details. Obviously we would need to
> release his bribery note. It would become a bit of a circus.
>
> Naturally we did not understand why a guy on the forums heard from you
> guys, but we had not heard anything. So thanks for commenting on that.
>
> Also, I want to introduce you to Christina, she is heading up all our PR,
> so would work with you on this. Thanks!
>
> On Wednesday, December 17, 2014, Stan Higgins <stan@coindesk.com> wrote:
>
>> Hey Josh,
>>
>> Good to hear from you. We've actually had a piece on the Paycoin launch
>> in production for the last day =E2=80=93 I've just had some other things=
 crop up
>> unexpectedly and haven't had a chance to reach out to you with some
>> questions. As I think I mentioned in an earlier email, we opted to hold =
off
>> on coverage until the XPY launch given the multi-faceted nature of the
>> project and the sometimes fluid nature of these kinds of projects.
>>
>> Per the PYC/XPY situation: while we typically don't comment on our
>> investigative actions, I will say that we follow up on all tips we recei=
ve
>> in order to weigh and assess them accordingly. I'm not entirely sure why
>> that person felt the need to announce on Bitcoin Talk that we sent him a
>> message asking for clarity, but there you go.
>>
>> I'll reach out to you with a few questions in a short while re: the
>> PayCoin launch, the progress thus far, etc =E2=80=93 will shoot these ov=
er once I
>> clear my plate for the morning. Cheers!
>>
>> Best,
>> Stan
>>
>
>
> --
>
> *Josh Garza*
> *CEO- *GAW Corp
>
>

--001a11406e76376e70050a8721a7
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable

<div dir=3D"ltr">Hi Stan,<div><br></div><div>I am getting reports from peop=
le that have made positive comments to your article, put their post are not=
 showing. Strangely, every post that has been approved is negative.=C2=A0</=
div><div><br></div><div>Wanted to check with you before more people brought=
 it up.</div></div><div class=3D"gmail_extra"><br clear=3D"all"><div><div c=
lass=3D"gmail_signature"><div dir=3D"ltr"><br><div><b style=3D"font-size:sm=
all"><span style=3D"color:rgb(204,0,0)">Josh Garza</span></b><br style=3D"f=
ont-family:arial;font-size:small"><b style=3D"font-family:arial;font-size:s=
mall"><span style=3D"color:rgb(68,68,68);font-family:arial,sans-serif">CEO<=
/span>-=C2=A0</b><span style=3D"font-size:small;color:rgb(68,68,68);font-fa=
mily:Georgia,serif">GAW Corp</span><br></div></div></div></div>
<br><div class=3D"gmail_quote">On Wed, Dec 17, 2014 at 10:14 AM, Josh Garza=
 <span dir=3D"ltr">&lt;<a href=3D"mailto:josh@gaw.com" target=3D"_blank">jo=
sh@gaw.com</a>&gt;</span> wrote:<blockquote class=3D"gmail_quote" style=3D"=
margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">Sounds good,=
 I wanted to give you the heads up. I would hate to see you guys report on =
that, without the details. Obviously we would need to release his bribery n=
ote. It would become a bit of a circus.=C2=A0<div><div><br></div><div>Natur=
ally we did not understand why a guy on the forums heard from you guys, but=
 we had not heard anything. So thanks for commenting on that.=C2=A0</div><d=
iv><br></div><div>Also, I want to introduce you to Christina, she is headin=
g up all our PR, so would work with you on this. Thanks!</div><span class=
=3D""><div><br>On Wednesday, December 17, 2014, Stan Higgins &lt;<a href=3D=
"mailto:stan@coindesk.com" target=3D"_blank">stan@coindesk.com</a>&gt; wrot=
e:<br><blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-l=
eft:1px #ccc solid;padding-left:1ex"><div dir=3D"ltr">Hey Josh,<div><br></d=
iv><div>Good to hear from you. We&#39;ve actually had a piece on the Paycoi=
n launch in production for the last day =E2=80=93 I&#39;ve just had some ot=
her things crop up unexpectedly and haven&#39;t had a chance to reach out t=
o you with some questions. As I think I mentioned in an earlier email, we o=
pted to hold off on coverage until the XPY launch given the multi-faceted n=
ature of the project and the sometimes fluid nature of these kinds of proje=
cts.=C2=A0</div><div><br></div><div>Per the PYC/XPY situation: while we typ=
ically don&#39;t comment on our investigative actions, I will say that we f=
ollow up on all tips we receive in order to weigh and assess them according=
ly. I&#39;m not entirely sure why that person felt the need to announce on =
Bitcoin Talk that we sent him a message asking for clarity, but there you g=
o.=C2=A0</div><div><br></div><div>I&#39;ll reach out to you with a few ques=
tions in a short while re: the PayCoin launch, the progress thus far, etc =
=E2=80=93 will shoot these over once I clear my plate for the morning. Chee=
rs!</div><div><br></div><div>Best,</div><div>Stan</div></div>
</blockquote></div></span></div><span class=3D"HOEnZb"><font color=3D"#8888=
88"><br><br>-- <br><div dir=3D"ltr"><br><div><b style=3D"font-size:small"><=
span style=3D"color:rgb(204,0,0)">Josh Garza</span></b><br style=3D"font-fa=
mily:arial;font-size:small"><b style=3D"font-family:arial;font-size:small">=
<span style=3D"color:rgb(68,68,68);font-family:arial,sans-serif">CEO</span>=
-=C2=A0</b><span style=3D"font-size:small;color:rgb(68,68,68);font-family:G=
eorgia,serif">GAW Corp</span><br></div></div><br>
</font></span></blockquote></div></div>

--001a11406e76376e70050a8721a7--

[Paul Revere]

He probably charters private jets with all the money he got from the hashtards.

Pretty sure most of it is gone, he can't pay bills anymore.

I would say he won't pay bills- particularly GAW corporate bills. He stuffed all the loot form the scam in personal offshore accounts and BTC addresses. Now he will just let GAW crash and burn, just as I and others were saying months ago. Amazing it has taken this long to reach this stage of the scam.

Meanwhile, Hashtalkers are operating in their own private universe: https://hashtalk.org/topic/36511/price-going-up/8



Ya, Favelle. Price is going up!Better sell some snakes and BUY XPY! Couldn't possibly be Homero propping up the coin.



Apparently news of yesterdays events has not penetrated the Wall of Stupid on Hashtalk yet. He is still talking about the REALLY bad news of the Email "leaks" a couple days ago, not the REEEEEEEALLLLLLY BAD news pouring out of a giant firehose that started yesterday.

P.S: I can not get the Gawgate .zip from the torrent (the 4.75GB one) to extract. Is it corrupted? Using 7zip and I get "unsupported compression method" message when trying to extract.

[seedtrue]

He probably charters private jets with all the money he got from the hashtards.

Pretty sure most of it is gone, he can't pay bills anymore.

I would say he won't pay bills- particularly GAW corporate bills. He stuffed all the loot form the scam in personal offshore accounts and BTC addresses. Now he will just let GAW crash and burn, just as I and others were saying months ago. Amazing it has taken this long to reach this stage of the scam.

Meanwhile, Hashtalkers are operating in their own private universe: https://hashtalk.org/topic/36511/price-going-up/8

https://i.imgur.com/vWD1nHM.jpg

Ya, Favelle. Price is going up!Better sell some snakes and BUY XPY! Couldn't possibly be Homero propping up the coin.

https://i.imgur.com/uaZcDOU.jpg

Apparently news of yesterdays events has not penetrated the Wall of Stupid on Hashtalk yet. He is still talking about the REALLY bad news of the Email "leaks" a couple days ago, not the REEEEEEEALLLLLLY BAD news pouring out of a giant firehose that started yesterday.

yeah, they still think the recent email dump is about "GAW" dumping a "few" Paycoins....they have no idea.

[Paul Revere]

Here is what I am getting with the Gawgate file:



Is that the correct file size? (The Windows hover said ~4.75 GB.)



Corrupted? Something to do with MacOS? Need different extractor?

[bumpershot]

Your file size is right. I'm on a Mac, and I just did 'open GAWgate.zip'. The default extraction program did the job.

Edit: Oh, I see, you're on Windows, and you're wondering if some peculiarity of Mac compression is at play. Maybe. I'd try different extraction programs until one works.

[Buckeye2015]

Your file size is right. I'm on a Mac, and I just did 'open GAWgate.zip'. The default extraction program did the job.

Edit: Oh, I see, you're on Windows, and you're wondering if some peculiarity of Mac compression is at play. Maybe. I'd try different extraction programs until one works.

Can you post the individual mbox files somewhere for download? How big did they expand out to?

[rawbot]

I just want to make a comment about the people who seem to be upset about the public humiliation being dished out to both Jessica and Josh Garza in this forum by people posting their pornographic interactions.

First of all,  when you are saying "I can't wait to suck your wonderful dick tonight"   In a company email,  you deserve everything you get.  Secondly,  considering the fact that they have just fucked off to Dubai with many millions of dollars in bitcoins, they may escape American Justice altogether which makes it our responsibility to totally annihilate their reputation online.

So for you prudes who are finding that kind of thing uncomfortable or think that we should preserve the dignity of these despicable fraudsters I say, no fucking way.   No rules anymore in this battle.

[bumpershot]

Can you post the individual mbox files somewhere for download? How big did they expand out to?

The larger one is 6.23 GB.

[maildir]

Check that they haven't been unzipped regardless of the mac error, look in those other two folders, it might have been extracted while throwing that error.

If someone can post the whole thing up to a site that would be great.

[capsqrl]

Meanwhile, Mineral.com, the fastest growing Bitcoin exchange on the planet, has had a volume of 0.28 BTC in the last 24 hours. That's 60 dollars.

[Paul Revere]

Update : I should have made it more clear: I am on W7 and 7zip would not extract the Gawgate.zip. WinRAR did, although it gave me an error message. It appears that all or darned near all files are there.

[coinits]

I just want to make a comment about the people who seem to be upset about the public humiliation being dished out to both Jessica and Josh Garza in this forum by people posting their pornographic interactions.

First of all,  when you are saying "I can't wait to suck your wonderful dick tonight"   In a company email,  you deserve everything you get.  Secondly,  considering the fact that they have just fucked off to Dubai with many millions of dollars in bitcoins, they may escape American Justice altogether which makes it our responsibility to totally annihilate their reputation online.

So for you prudes who are finding that kind of thing uncomfortable or think that we should preserve the dignity of these despicable fraudsters I say, no fucking way.   No rules anymore in this battle.

Is there 100% proof that he is in Dubai?