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

[bumpershot]

Where does all the cash come from?  It came from the customers themselves!  People buying hashlets directly, their 10% cut of market sales, hashstaker sales, etc.

No, that would be a Ponzi scheme, almost by definition.

The initial cash comes from the fund. Since about half of Paycoins will be immediately staked, GAW is betting that they have enough support in that fund to withstand the initial massive dump. After that, the value added is the ability for cryptocurrency to do what Apple Pay and Paypal do, only much more cheaply. The transaction costs are so much lower with crypto that there will be incentive to use the system, and companies/people will buy coins, thus providing the cash. Paycoin will be chosen over other crypto because its tiered system allows for instant transactions with low overhead and because the price support will add stability to the coin's value relative to other currencies.

At least, that's the theory. As should be obvious, there are a lot of ways this could go sour.

[wdl1908]

Once the coin is released and thousands upon thousands paycoins are dumped and the wall becomes thinner and thinner and people mine the hell out of the coin just to dump it, where it the wall then?
No one will want to buy paycoins in the future, it offers nothing innovative and its completely useless.

You won't get that kind of proof from any other company that I can think of.  GAW has bent over backwards to try and satisfy their critics, but the boo-birds and naysayers will never be satisfied.

GAW HAS BENT OVER BACKWARDS TO TRY AND SATISFY THEIR CRITICS?
They have done nothing at all to satisfy us, and he keeps on mentioning that everything is hidden for 'competitive' reason...
It has to be hidden because he doesn't want to go to jail for lying/scamming individuals.
You don't need to hide the amount of miners you have or mining addresses, what are competitors going to do with that.

Have you ever considered this that if GAW rents out the mining power that there is no mining address at GAW? They rent out the mining power and get paid in BTC. So how are you  going to dis-prove that. How will GAW prove that? Neither you are GAW can produce proof.

[T0urist]

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

Looks better than my BitpopCoin wallet

https://bitcointalk.org/index.php?topic=665896.0

I noticed on that post bitpop that it says ceo position is open. Want to give garza an interview for it?

[NeonTranceBadger]

Its funny you make these remarks while your add banner says "become a bitcoin millonaire"....

You seem to be confused. At one point this site had a hashlet ad across the page showing in this thread, it was amusingly ironic but has nothing to do with posters' opinions.

So your absolved of any responsibility for their content? Why arent you bashing them, Where is that thread???

IT LITERALLY SAYS YOU CAN GET RICH! With a small amount of bitcoin. Hmmm
Every hear of "cherry picking"?


I would seriously like some sort of proof that GAW has done wrong. Can anyone show some sort of proof?
I'm genuinely asking. Not to make fun. I make fun because every company hypes their product. And if they dont they get bashed for having cheap products.

I own $190 worth of hashstakers and can refund it any time. That tells me the company is at least somewhat legit. No scammer offers a money back guarantee with a grace period that has been so long. They make you feel stupid with no real information if you try to cancel. All I have seen here is ridicule, that typical scammers would provide. I have looked through some links on here as I just found this thread. Sadly since issues with pump N dumpers on here in the early part of the year I wrote this forum off as "like all the rest". I want to refund my money if I see information that is legitiment. But im not here to drink your koolaid either...

GAW has made more promises than I can keep track of and has pretty much broken every single one of them.  VaultBreakers ring any bells,  SHA256 on Primes, Buy Back of primes, more features for primes, amps for hashlets that can be bought with hashpoints, lower maintenance fees, Zenpool always the most profitable.  Lets move on to zenpool especially on the 25 for 1 primes issue which they gave re-sellers codes that redeemed 25mhs primes.  After that issue Zenpool took a massive dive and I'm talking by about 50% of its normal payouts.  Josh said it was due to negotiations for their clients who rent hashing power and he said after the negotiations were done Zenpool would go back to normal or higher.  Well guess what it never did and the highest it went back up to was most around .00045.  Now move forward in time a little bit to the announcement of hashcoin the all mighty.  After its announcement Zenpool took another massive to about the .00025 range maybe a little more which basically payout almost next to nothing.  At this point to make ROI you had to mine hashpoints to later convert to paycoin and hope that what Josh said about you being able to sell a paycoin for $20 at public launch.  And that right there is a perfect example of wrong doing in my opinion.  

[corygto]

You know for being "geniuses at work", "crypto-industry innovators", and claiming to be professionals...these guys sure do have trouble keeping a simple forum running or making an update to Zencloud that doesn't completely break it.

GAW is a complete shit show right now.

EDIT: Is the ponzi finally coming close to crashing?

https://hashtalk.org/topic/22556/so-i-withdrew-9-65btc

[T0urist]

I have a couple of questions. What is your take on the lack of miners shown in the video. Don't you find it the least bit suspicious that there was no sound (to possibly hide the number of miners running), the camera was angled at a certain position... and there was no walk through. Do you not think that if its so easy to provide evidence in a walk through that they shouldn't have overlooked it?

Sorry, I haven't seen the video.  This has never concerned me.

Based on just this alone can you see where peoples suspicions lay? The video walkthrough stated people could tell him where to walk and then it becomes an orchestrated controlled video. Should GAW not at least address that to prove 5 PH at least?

I'm guessing that they didn't do it the way that you wanted it done.  Satisfying hundreds of different requests was probably not feasible, and he was probably ordered to do it that way.
 

On another note do you find it unreasonable that a person investing ask for said proof of their investment? If so why not? Why should a CEO's word rival proof.

You won't get that kind of proof from any other company that I can think of.  GAW has bent over backwards to try and satisfy their critics, but the boo-birds and naysayers will never be satisfied.

No the didnt do the video the way THEY stated they were going to do it. the public didnt request it that way. They said we'll walk around going where the live q&a participants tell us to go then spray paint this is my house in pink. So they lied and didnt bend over backwards.

[puwaha]

I'd like puwaha to answer please... I am interested in their actual take with reasoning supporting it. puwaha i'm being civil and nice here please provide a direct answer that doesn't dance around the issue.

I didn't see the video, the quality or quantity of their mining operation has never concerned me.  Can you give me a link?  I'll watch and give my honest assessment.

[pd62512005]

@corygto <--- thats how I want live my life. Mis-information king. The site you speak of was down for a few hours. Then they did the logical thing, revert and fix the issue before relaunching the update that is now operable. Wish Obamacare.com was as good for all those millions put into it

@NeonTranceBadge - thank you for the information. I'm looking for it now.

[10BTCaDay]

What gets me is that they claim to have $250,000,000 of investor money and hashlet customer money plus the 10% of of the sales that they make (Gaw claims that they get 10s of thousands of transactions a day)..
With all this money that they have in their pocket, they can't hire coders, customer support reps or at least an executive officer so Josh doesn't have to moderate/shadow/ban individuals on his own and write out huge announcements. Most of his employees are family or friends from the past, he probably can't hire smart individuals as they would probably learn that Josh is running a scam and would have real info to give to the feds.

There is no real excuse for the way he runs his company and lies to his customers, I'm sure every other company making money off of cryptocurrency is laughing at Josh and his clown posse.

 

[ColdSpirit]

You know for being "geniuses at work", "crypto-industry innovators", and claiming to be professionals...these guys sure do have trouble keeping a simple forum running or making an update to Zencloud that doesn't completely break it.

GAW is a complete shit show right now.

EDIT: Is the ponzi finally coming close to crashing?

https://hashtalk.org/topic/22556/so-i-withdrew-9-65btc

this is which time thta the so called ponzi is close to crashing? the gazillion time?? LOL

[10BTCaDay]

We asked Josh in June to show some actual proof of mining, all he could produce was one picture of a rack of scrypt miners mining.
We've been bugging him since then...

Its now December and all he has shown us since is some unplugged miners, and 2 racks of Antminers...

If that isn't a red flag that Josh is running a ponzi scheme, then the hundreds of lies and promises including the promise that you could point your hashlet to a specific address(I bet you guys forgot that promise(I included said docs/proof included that and a ton more to the SEC)).

If you're still with GAW, sell all your hashlets before they're 'locked in'.
Gather up ALL your BTC and either sit on it or invest in something LEGIT, while you watch GAW burn to the ground with lawsuits/court cases/jail time.

[maildir]

They're warming you up to it. A few days delay, then a sigh of relief when it comes through. A weeks delay,  then a sigh of relief when it comes through, 6 weeks delay, everyone will sigh and say don't worry they ALWAYS come through, so you will wait. Then two months and POOF !

A reverse ponzi if you will LOL !

[maildir]

I think the real problem is that even though they know they are being scrutinized by everyone, being ridiculed by everyone, all their so-called customers are starting to question them and are jittery, you would think they would go all out and fix everything ASAP be it the fantasy coin trading, people's with drawls etc. etc. Bring in extra man power, have people working 24/7 so withdrawals are immediate, call in real tech teams to fix the problems. Yet they don't. Why don't they do such an obvious thing?

Because they can't.

[10BTCaDay]

I think the real problem is that even though they know they are being scrutinized by everyone, being ridiculed by everyone, all their so-called customers are starting to question them and are jittery, you would think they would go all out and fix everything ASAP be it the fantasy coin trading, people's with drawls etc. etc. Bring in extra man power, have people working 24/7 so withdrawals are immediate, call in real tech teams to fix the problems. Yet they don't. Why don't they do such an obvious thing?

Because they can't.

Usually companies that are running a multi-million dollar scam will not hire on more individuals.

And the fact that the previous Chief Financial Officer jumped ship a couple months back and that they can't find another CFO is another red flag. I'm sure he didn't want to be the one dealing with the SEC.

https://coinality.com/jobs/cfo-gaw-miners-bloomfield-ct/

Risk Management

Understand and mitigate key elements of the company’s risk profile
Monitor all open legal issues involving the company, and legal issues affecting the industry
Construct and monitor reliable control systems
Maintain appropriate insurance coverage
Ensure that the company complies with all legal and regulatory requirements
Ensure that record keeping meets the requirements of auditors and government agencies
Report risk issues to the leadership team, present recommendation(s) for risk mitigation
Maintain relations with external auditors and investigate their findings and recommendations

I doubt anyone wants to be liable for that, lol.

[pd62512005]

I think the real problem is that even though they know they are being scrutinized by everyone, being ridiculed by everyone, all their so-called customers are starting to question them and are jittery, you would think they would go all out and fix everything ASAP be it the fantasy coin trading, people's with drawls etc. etc. Bring in extra man power, have people working 24/7 so withdrawals are immediate, call in real tech teams to fix the problems. Yet they don't. Why don't they do such an obvious thing?

Because they can't.

I understood they purchased a lot of hashing power recently? I know mining hardware can be expensive to say the least. I also understood they do pay other companies for hosting and 2 factor authy. I could be wrong. Im not omnipotent. I watch CNN and FOX

[alienesb]

Hey look.... I made a Paycoins too.... loz:
Coin properties
Coin typeBitcoin (SHA256)
Halving5 blocks
Initial coins per block50 coins
Target spacing0 min
Target timespan0 h
Coinbase maturity0 blocks
Premine0 %
Max coinbase500 + 0 = 500 coins
P2P port11022
RPC port21022

Sweet, start a pool up!

[pd62512005]

I think the real problem is that even though they know they are being scrutinized by everyone, being ridiculed by everyone, all their so-called customers are starting to question them and are jittery, you would think they would go all out and fix everything ASAP be it the fantasy coin trading, people's with drawls etc. etc. Bring in extra man power, have people working 24/7 so withdrawals are immediate, call in real tech teams to fix the problems. Yet they don't. Why don't they do such an obvious thing?

Because they can't.

Usually companies that are running a multi-million dollar scam will not hire on more individuals.

And the fact that the previous Chief Financial Officer jumped ship a couple months back and that they can't find another CFO is another red flag. I'm sure he didn't want to be the one dealing with the SEC.

https://coinality.com/jobs/cfo-gaw-miners-bloomfield-ct/

Risk Management

Understand and mitigate key elements of the company’s risk profile
Monitor all open legal issues involving the company, and legal issues affecting the industry
Construct and monitor reliable control systems
Maintain appropriate insurance coverage
Ensure that the company complies with all legal and regulatory requirements
Ensure that record keeping meets the requirements of auditors and government agencies
Report risk issues to the leadership team, present recommendation(s) for risk mitigation
Maintain relations with external auditors and investigate their findings and recommendations

I doubt no one wants to be liable for that, lol.

oxymoron much? "scam will not hire on more individuals" Job openning link: "https://coinality.com/jobs/cfo-gaw-miners-bloomfield-ct/" ... "CLICK HERE TO APPLY"

[DARKANGEL6415]

In other news, wish me luck just got a bunch of these done just right

gonna start exchanging them tomorrow

Swap the liberty statue with Josh Garzas face :grinning:

great idea but if i may add to it. Make sure you keep the dress on and maybe add a nice crown 

[pd62512005]

Hey look.... I made a Paycoins too.... loz:
Coin properties
Coin typeBitcoin (SHA256)
Halving5 blocks
Initial coins per block50 coins
Target spacing0 min
Target timespan0 h
Coinbase maturity0 blocks
Premine0 %
Max coinbase500 + 0 = 500 coins
P2P port11022
RPC port21022

https://i.imgur.com/ShrPqRj.png

Sweet, start a pool up!

^--- starts ----> "INSTANTLY BECOME A MILLIONAIRE!
BetCoin™
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"i·ro·ny - a state of affairs or an event that seems deliberately contrary to what one expects and is often amusing as a result."

[CoinFire]

Hey look.... I made a Paycoins too.... loz:
Coin properties
Coin typeBitcoin (SHA256)
Halving5 blocks
Initial coins per block50 coins
Target spacing0 min
Target timespan0 h
Coinbase maturity0 blocks
Premine0 %
Max coinbase500 + 0 = 500 coins
P2P port11022
RPC port21022

Already running

Edit: My new address: 1CMmq13LWHBCPm33qHvX4xSheutuJ7YDXF