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

[jackbox]

4/ If all the big investors decide to sell their paycoin on release, how much of the $20 buy wall be left for those locking up their coins in hashstakers?

1/2 of the coins locked up in the prime controllers at launch. let's say 1/4 locked up in stakers gives about 3,125,000 free coins at $20 = 62,500,000 the buy wall was sometimes mentioned to be $100,000,000 so about 37,500,000 left.

By that math alone you prove the lie. Any financial firm at any level of competence would refuse to give away that much of their investment or even risk a "dump against the wall" (I know I've been saving that one). Once the selling starts the price will go into free fall. The only thing for sure in this scenario is the loss of millions in the initial investment. Best case maybe get their money back. So why would anyone put millions on the table to begin with? There is no floor for paycoin never was.
[/quote]

Yes, there is a floor. It is 1 Satoshi.  

Or it will only trade in LTC and go lower?

[bitpop]

Isn't 0 satoshi possible? I guess that would be a Litecoin satoshi

[suchmoon]

Twitter (again):

  Josh Garza @gawceo  ·  Many are going to eat their words next week. I saved the best for last.

Another affiliate program announcement Josh? Yea that global financial partner announcement was really fantastic.

He will be announcing that Primes can now mine SHA but too bad you guys converted it all to the cashstakers but I did promise you it can

I thought they were supposed to do that 2 months ago? But that was forgotten and pushed aside like all the other promises Homero made to his customers!

There was a convoluted explanation for that, something like:

• We had payout issues at that time and didn't want to complicate things further by introducing a new feature
• Then BTC tanked and SHA256 would have been less profitable than ZenPool, so it made no sense
• Of course then ZenPool tanked and SHA256 would have been more profitable, but that was never explained

lol, it was just someone switching a 0 with a O but was still funny.
https://i.imgur.com/9XV1rgK.png

^ upvote

[bitpop]

lol, it was just someone switching a 0 with a O but was still funny.

<<upvote>>

[bumpershot]

Great, now I look at yesterday's payouts and find out they're charging maintenance fees on double dipping without announcing it first. GAWsome.

They had said they were going to do that, then backtracked, so I've been DDing with ZenPool. I wish they had let me know before starting the maintenance fees on DD.

[jackbox]

Isn't 0 satoshi possible? I guess that would be a Litecoin satoshi

Or a FLIRT coin Satoshi. RiverBoat can appreciate that.  

[wdl1908]

3/ What density of paycoin transactions on a prime controller will it take to return a $20 investment to all investors down the chain?

transaction fee of about 0.001 about 10,000,000 a day (Rough calculation)

Is that per controller or total? 500m total transactions a day sounds excessive. Even 10m per day sounds incredible, at least in the beginning - assuming GAW has 200k customers each would need to do 50 transactions each day. AFAIK Visa network does ~200m per day on average.

So let's say it's 10m total. At 0.001 per transaction that's 10k per day in revenue. At 0.01 XPY staking rate this would pay for 1m HashStakers. Yet you're saying yourself that 3m might be locked in HashStakers, i.e. 30k per day needs to be paid out.

What am I missing?

Yeah I was just speculating did not really do the correct calculations. So or the transaction fees must be higher or the nr of transactions must be higher to get the 30k/day that is needed to do the payouts.

Transaction fees could be 0.0025 that is $0.05 which seem reasonable for normal amounts like buying something from a merchant but is outrageously high when you just went to send one coin. Did not found any information on transaction fee amounts in the white-paper.

[bumpershot]

BTC Payout
    0.00023047 BTC
HP Payout
    18
Maintenance Fee
    -0.00023046 BTC

HashPoint Pool
    18 HP • 12/08/14 00:00 - 12/09/14 00:00
ZenPool
    0.00013694 BTC • 12/08/14 05:35 - 12/08/14 17:35

I mean, come on. They could have at least disclosed this ahead of time.

[jackbox]

3/ What density of paycoin transactions on a prime controller will it take to return a $20 investment to all investors down the chain?

transaction fee of about 0.001 about 10,000,000 a day (Rough calculation)

Is that per controller or total? 500m total transactions a day sounds excessive. Even 10m per day sounds incredible, at least in the beginning - assuming GAW has 200k customers each would need to do 50 transactions each day. AFAIK Visa network does ~200m per day on average.

So let's say it's 10m total. At 0.001 per transaction that's 10k per day in revenue. At 0.01 XPY staking rate this would pay for 1m HashStakers. Yet you're saying yourself that 3m might be locked in HashStakers, i.e. 30k per day needs to be paid out.

What am I missing?

Yeah I was just speculating did not really do the correct calculations. So or the transaction fees must be higher or the nr of transactions must be higher to get the 30k/day that is needed to do the payouts.

Transaction fees could be 0.0025 that is $0.05 which seem reasonable for normal amounts like buying something from a merchant but is outrageously high when you just went to send one coin. Did not found any information on transaction fee amounts in the white-paper.

No transaction fees have been announced. In fact, nothing of substance about the coin, block rewards, blockchain, etc. has been announced. Guy was just pulling numbers out of his ass. Garza was interviewed and he said I don't know anything about block rewards, blockchain, etc. That is up to devs. What devs? The numbers cannot make sense. He said prime controllers will earn about 10%. So how is GAW going to pay people with CashTakers up to 400%. It boggles the mind anyone is eating this shit up.

[wdl1908]

Great, now I look at yesterday's payouts and find out they're charging maintenance fees on double dipping without announcing it first. GAWsome.

They had said they were going to do that, then backtracked, so I've been DDing with ZenPool. I wish they had let me know before starting the maintenance fees on DD.

It's a bug confirmed by support.

[vabchgent]

BTC Payout
    0.00023047 BTC
HP Payout
    18
Maintenance Fee
    -0.00023046 BTC

HashPoint Pool
    18 HP • 12/08/14 00:00 - 12/09/14 00:00
ZenPool
    0.00013694 BTC • 12/08/14 05:35 - 12/08/14 17:35

I mean, come on. They could have at least disclosed this ahead of time.

Yikes Zenpool is a true disaster. I would need at least 100 ZENS to make what I make on my Antminers.

[jackbox]

BTC Payout
    0.00023047 BTC
HP Payout
    18
Maintenance Fee
    -0.00023046 BTC

HashPoint Pool
    18 HP • 12/08/14 00:00 - 12/09/14 00:00
ZenPool
    0.00013694 BTC • 12/08/14 05:35 - 12/08/14 17:35

I mean, come on. They could have at least disclosed this ahead of time.

Wow, you made 1 Satoshi. Way go to go.

[jayendo]

lol, it was just someone switching a 0 with a O but was still funny.

<<upvote>>

Glad you enjoyed my troll, its part of an ongoing campaign of mine

[bumpershot]

It's actually comparable to other pools. 1 MHz for 12 hours yielding 13694 Sats is actually pretty good right now. I know, right?

[bumpershot]

BTC Payout
    0.00023047 BTC
HP Payout
    18
Maintenance Fee
    -0.00023046 BTC

HashPoint Pool
    18 HP • 12/08/14 00:00 - 12/09/14 00:00
ZenPool
    0.00013694 BTC • 12/08/14 05:35 - 12/08/14 17:35

I mean, come on. They could have at least disclosed this ahead of time.

Wow, you made 1 Satoshi. Way go to go.

According to another poster, this is a bug, and I should have gotten 13694 Sats. If Paycoins end up being worth anything at all, I'm in good shape.

[alienesb]

lol, it was just someone switching a 0 with a O but was still funny.

<<upvote>>

Glad you enjoyed my troll, its part of an ongoing campaign of mine

I am alienesb and I approve of this troll.

[10BTCaDay]

I'm not sure why he doesn't go hide someplace? After the SEC gets involved I'm sure hes looking at 20 years of prison.

[keshuker]

According to another poster, this is a bug, and I should have gotten 13694 Sats. If Paycoins end up being worth anything at all, I'm in good shape.

Same here.

What about a theorethical situation, that they would have the advertised 100M$ buy wall on some/several exchanges combined. It would just be impossible that GAW would have that kind of BTC. 100M$ is 2% of all BTC created, and if GAW would have exchanged the 100M$ to BTC, I'm sure the price of BTC would have seen another trend.

So IF they would put a buy wall somewhere, I do NOT think it could be against BTC, it would be against FIAT on their own platform and the dumpable amount would very probably be strictly controlled and queued. And of course the site would be constantly down due to this and that.

[jackbox]

According to another poster, this is a bug, and I should have gotten 13694 Sats. If Paycoins end up being worth anything at all, I'm in good shape.

Same here.

What about a theorethical situation, that they would have the advertised 100M$ buy wall on some/several exchanges combined. It would just be impossible that GAW would have that kind of BTC. 100M$ is 2% of all BTC created, and if GAW would have exchanged the 100M$ to BTC, I'm sure the price of BTC would have seen another trend.

So IF they would put a buy wall somewhere, I do NOT think it could be against BTC, it would be against FIAT on their own platform and the dumpable amount would very probably be strictly controlled and queued. And of course the site would be constantly down due to this and that.

If there are no wallets to install on computers and not on exchanges and just on so-called "PayBase" (another name with prior art) then it is just a GAW wet dream with no value whatsoever. They can pretend it has value but good luck cashing out. Withdrawals will definitely be down for maintenance 24/7.

[truth_]

https://hashtalk.org/topic/21689/jmordica-screenshots-of-wallet-software/52