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

[puwaha]

I've been saying this many many times now: before it goes public you don't Need to "mine" you can set diff to zero increment and have as many coins generated in seconds.
I got chill stories like:
1) GAW does not intend to compete with its customers
2) GAW does intend to compete with its customers
i don;t know what, talk about vaporware, this is is helium!

You must have missed the fact that GAW will be mining their coins.  They are not pre-mining.  If you point 5PH at a new coin, you will mine the shit out of it before anyone else gets up and running.

[WaffleMaster]

So let me get this straight - you guys, for whatever reason, think GAW is a scam, so your solution to that is to create confusion in the less knowledgeable people by producing a cut and paste clone of XPY and putting that out there to scam people or otherwise cause them losses. Do I have that correct?

And you think that somehow Big Vern is going to list your scam coin on Cryptsy as well?

If it's not already clear you guys are scum, it certainly is clear to everyone now, isn't it?

God forbid we even look at the big picture - which is GAW is making a push to bring crypto mainstream - and you jackasses are trying to create a situation that makes every single crypto-interested person think how fucked up this entire industry really is by creating your own scam... whom do you think you are really helping?

If the folks helping with Paycoin at GAW are hopeless morons like you all think we are, is doing this going to change that? No. We're a lost cause according to all of you. Why not just let us be to be manipulated and scammed like you think we are having done to us? Write us off and get on with your lives. Dance on our graves and tell us all you told us so... after it's all crumbled down around our ankles. The only thing you are hurting is the industry itself by going this route.

Thus proving the IQ of the average GAW "investor"

[10BTCaDay]

So let me get this straight - you guys, for whatever reason, think GAW is a scam, so your solution to that is to create confusion in the less knowledgeable people by producing a cut and paste clone of XPY and putting that out there to scam people or otherwise cause them losses. Do I have that correct?

I'm confused.. you must be talking about the real XPY coin..
lol

[WaffleMaster]

I've been saying this many many times now: before it goes public you don't Need to "mine" you can set diff to zero increment and have as many coins generated in seconds.
I got chill stories like:
1) GAW does not intend to compete with its customers
2) GAW does intend to compete with its customers
i don;t know what, talk about vaporware, this is is helium!

You must have missed the fact that GAW will be mining their coins.  They are not pre-mining.  If you point 5PH at a new coin, you will mine the shit out of it before anyone else gets up and running.

Not premining, so those Hash Points people are expecting to spend to get coins early...? You've proved you are a shill, just move along.

[T0urist]

So let me get this straight - you guys, for whatever reason, think GAW is a scam, so your solution to that is to create confusion in the less knowledgeable people by producing a cut and paste clone of XPY and putting that out there to scam people or otherwise cause them losses. Do I have that correct?

And you think that somehow Big Vern is going to list your scam coin on Cryptsy as well?

If it's not already clear you guys are scum, it certainly is clear to everyone now, isn't it?

God forbid we even look at the big picture - which is GAW is making a push to bring crypto mainstream - and you jackasses are trying to create a situation that makes every single crypto-interested person think how fucked up this entire industry really is by creating your own scam... whom do you think you are really helping?

If the folks helping with Paycoin at GAW are hopeless morons like you all think we are, is doing this going to change that? No. We're a lost cause according to all of you. Why not just let us be to be manipulated and scammed like you think we are having done to us? Write us off and get on with your lives. Dance on our graves and tell us all you told us so... after it's all crumbled down around our ankles. The only thing you are hurting is the industry itself by going this route.

And GAW thought about the existing paycoin before creating confusion with the existing one?

Hurt the industry? No that made coin they admit is for shits and giggles its as transparent as possible no lies. To show im mining it i'll do a video in my room and spray the floor pink with this is my room. I'll even leave the lights on... nah fuck that i'll just post my wallet address instead its easier.

You should mine it too. Its ready to go now.... no need to buy a staker!!!

[10BTCaDay]

So let me get this straight - you guys, for whatever reason, think GAW is a scam, so your solution to that is to create confusion in the less knowledgeable people by producing a cut and paste clone of XPY and putting that out there to scam people or otherwise cause them losses. Do I have that correct?

And you think that somehow Big Vern is going to list your scam coin on Cryptsy as well?

If it's not already clear you guys are scum, it certainly is clear to everyone now, isn't it?

God forbid we even look at the big picture - which is GAW is making a push to bring crypto mainstream - and you jackasses are trying to create a situation that makes every single crypto-interested person think how fucked up this entire industry really is by creating your own scam... whom do you think you are really helping?

If the folks helping with Paycoin at GAW are hopeless morons like you all think we are, is doing this going to change that? No. We're a lost cause according to all of you. Why not just let us be to be manipulated and scammed like you think we are having done to us? Write us off and get on with your lives. Dance on our graves and tell us all you told us so... after it's all crumbled down around our ankles. The only thing you are hurting is the industry itself by going this route.

And GAW thought about the existing paycoin before creating confusion with the existing one?

Hurt the industry? No that made coin they admit is for shits and giggles its as transparent as possible no lies. To show im mining it i'll do a video in my room and spray the floor pink with this is my room. I'll even leave the lights on... nah fuck that i'll just post my wallet address instead its easier.

You should mine it too. Its ready to go now.... no need to buy a staker!!!

Lets make our coin public, I might make an anonymous site for Paycoin(s).

I bet it'll be a bigger hit than the actual Paycoin.

Who wants to start organizing things.. someone start a thread!!!

[suchmoon]

So let me get this straight - you guys, for whatever reason, think GAW is a scam, so your solution to that is to create confusion in the less knowledgeable people by producing a cut and paste clone of XPY and putting that out there to scam people or otherwise cause them losses. Do I have that correct?

And you think that somehow Big Vern is going to list your scam coin on Cryptsy as well?

If it's not already clear you guys are scum, it certainly is clear to everyone now, isn't it?

God forbid we even look at the big picture - which is GAW is making a push to bring crypto mainstream - and you jackasses are trying to create a situation that makes every single crypto-interested person think how fucked up this entire industry really is by creating your own scam... whom do you think you are really helping?

If the folks helping with Paycoin at GAW are hopeless morons like you all think we are, is doing this going to change that? No. We're a lost cause according to all of you. Why not just let us be to be manipulated and scammed like you think we are having done to us? Write us off and get on with your lives. Dance on our graves and tell us all you told us so... after it's all crumbled down around our ankles. The only thing you are hurting is the industry itself by going this route.

Stop pretending that you represent the "industry". You represent yet another (not even released) shitcoin in a cesspool of other such coins. Somebody copied a coin to illustrate how ridiculously easy it is to produce a wallet screenshot and even a working blockchain if you insist and you are going to make a moral stand here? Please go and read up on some of the CEO's (if that's even him) shenanigans in the old PayCoin thread, then let us know how that behavior is somehow morally superior and not scummy.

https://bitcointalk.org/index.php?topic=268941.msg9793628#msg9793628

[bumpershot]

Hurt the industry? No that made coin they admit is for shits and giggles its as transparent as possible no lies. To show im mining it i'll do a video in my room and spray the floor pink with this is my room. I'll even leave the lights on...

You should totally do this.

[welchy8764]

So let me get this straight - you guys, for whatever reason, think GAW is a scam, so your solution to that is to create confusion in the less knowledgeable people by producing a cut and paste clone of XPY and putting that out there to scam people or otherwise cause them losses. Do I have that correct?

And you think that somehow Big Vern is going to list your scam coin on Cryptsy as well?

If it's not already clear you guys are scum, it certainly is clear to everyone now, isn't it?

God forbid we even look at the big picture - which is GAW is making a push to bring crypto mainstream - and you jackasses are trying to create a situation that makes every single crypto-interested person think how fucked up this entire industry really is by creating your own scam... whom do you think you are really helping?

If the folks helping with Paycoin at GAW are hopeless morons like you all think we are, is doing this going to change that? No. We're a lost cause according to all of you. Why not just let us be to be manipulated and scammed like you think we are having done to us? Write us off and get on with your lives. Dance on our graves and tell us all you told us so... after it's all crumbled down around our ankles. The only thing you are hurting is the industry itself by going this route.

Enlighten us on your earnings in the last 2 months with GAW.. I would like to know exactly why I should invest

[jp333]

you guys are idiots. they're not premining. they're just mining the coin before they release the source code, wallet or pool information. it's totally different >_>

[TheIZS]

So, which usb miner would be best to mine the new Paycoin(s). I'm only going to get one and only one and plug it into my much neglected pc.
Remember cheap like the budget. I've been meaning to learn how to setup mining hardware.
Feel free to PM me suggestions too.

[wdl1908]

I've been saying this many many times now: before it goes public you don't Need to "mine" you can set diff to zero increment and have as many coins generated in seconds.
I got chill stories like:
1) GAW does not intend to compete with its customers
2) GAW does intend to compete with its customers
i don;t know what, talk about vaporware, this is is helium!

You must have missed the fact that GAW will be mining their coins.  They are not pre-mining.  If you point 5PH at a new coin, you will mine the shit out of it before anyone else gets up and running.

And now we get to the good part.

1. Diff changes every block.
2. Block time 1 minute
2. The higher the diff the lower the reward. (I have no idea what the ratio will be)

So the 5PH will give it a good diff rise for the first blocks.

[puwaha]

I'm confused now. So which is it, do they rent out the excess hash power or do they sell it off?

Uhh... both.  The landscape has been changing the past few months.  Where have you been?  They rent out hash power at a negotiated price with other companies, they make up the differences by charging hashlet owners maintenance in return for a admittedly made up number for daily payouts.  All the while, those contracts have been expiring because those cloud mining companies use their profits to buy real hardware so they don't have to rely on GAW's.  GAW sees that these contracts are getting harder to re-sign due to declining profits in scrypt mining especially, and rather than plod on, they are selling it off as they get their hashlet customers off on staking.

And what does it have to do with maintenance fees, we are talking about hashpower that doesn't have "hashlet owners" anymore, i.e. remaining after staker conversion.

No, there are still regular hashlet owners.  The big push was getting people to switch to hashpoints, so they didn't have to retain as much physical hardware to back up the virtual miners.  Then they convinced people to convert their primes and will do the same with the solo hashlets as much as possible.

Why do I have the feeling you're making this all up? I provide links with what I post, at the very least you should do the same if you continue to insist on your unproven (in my opinion and based on sources I find) statements.

I guess you just aren't understanding what I'm posting.  I'll try harder.

[10BTCaDay]

So, which usb miner would be best to mine the new Paycoin(s). I'm only going to get one and only one and plug it into my much neglected pc.
Remember cheap like the budget. I've been meaning to learn how to setup mining hardware.
Feel free to PM me suggestions too.

We're working on creating a pool, I'm looking at open-source pools.
Also, I have hookups at bittrex and I'm sure they will post the coin =)

[eightcylinders]

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.

No... that's called business.  All business tries to keep their existing customers to keep a steady stream of money coming in.  Getting new customers is harder.  Ponzis do it by making outrageous claims (yes, I already know what you are going to reply here.)

GAW has setup a business where they get people to continuously re-invest... that's business school 101.

Sigh.

Clearly you do not understand what a Ponzi is.  While I hate feeding trolls, it would be sad if anyone read your post and thought you made a point.  If this is what you learned in b-school, you should ask for a tuition refund.

The very definition of a Ponzi scheme is that old investors are paid profits from the (new money) provided by subsequent investors.

IF that is what is going on at GAW, its a Ponzi pure and simple.  Note that I am not saying that is what GAW is doing, but you are saying it is and if you believe that you should run. 

From the U.S. Securities and Exchange Commission:

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors .... In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors to create the false appearance that investors are profiting from a legitimate business."

See Ponzi Schemes

Here is educational reading from the U.S. Securities and Exchange Commission, FTC, Forbes and Wikipedia that I posted months ago in the old thread:

What are some Ponzi scheme "red flags"?
Many Ponzi schemes share common characteristics. Look for these warning signs:

1.  High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity.

2.  Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions. 

3.  Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances.

4.  Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.

5.  Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.
Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.

6.  Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over. 


FURTHER READING:
http://www.consumer.ftc.gov/blog/telltale-signs-pyramid-scheme
http://www.forbes.com/sites/investopedia/2014/03/18/what-is-a-pyramid-scheme/
http://www.sec.gov/answers/pyramid.htm
http://www.sec.gov/answers/ponzi.htm
http://en.wikipedia.org/wiki/Ponzi_scheme

[welchy8764]

you guys are idiots. they're not premining. they're just mining the coin before they release the source code, wallet or pool information. it's totally different >_>

Really? They are mining a coin? They have all the logic built and tested for the "thermodynamic, reverse corollary,difficulty algorithm"  block chain. so the mining was going on" in secret" ? Good to know

[puwaha]

Your "business school 101" is really a high school class on keeping suckers happy. A good scam artist (let's leave the P word aside to avoid dumb word games) keeps the early adopters happy so the purse is nice and fat to handle the ups and downs of running a business that is legitimate on paper but exploitative and small-minded in practice.

This again?  There are hundreds of examples of people doing very well without a college degree.  Entrepreneurship isn't something that's learned in a class.  You have to go out and earn your stripes.  Some people have just got the knack.  Is Josh one of them?  The jury is still out, but he's started and sold off successful companies despite the naysayers here.

[TheIZS]

So, which usb miner would be best to mine the new Paycoin(s). I'm only going to get one and only one and plug it into my much neglected pc.
Remember cheap like the budget. I've been meaning to learn how to setup mining hardware.
Feel free to PM me suggestions too.

We're working on creating a pool, I'm looking at open-source pools.
Also, I have hookups at bittrex and I'm sure they will post the coin =)

Cool so no rush, which thumb miner would you suggest?
It will be fun to see if I can mine with next to no power
more of you paycoin(s) than I never get for my Hashpointupons

[WaffleMaster]

So, which usb miner would be best to mine the new Paycoin(s). I'm only going to get one and only one and plug it into my much neglected pc.
Remember cheap like the budget. I've been meaning to learn how to setup mining hardware.
Feel free to PM me suggestions too.

We're working on creating a pool, I'm looking at open-source pools.
Also, I have hookups at bittrex and I'm sure they will post the coin =)

Too late. I've been talking to all the big exchanges and due to NDA I can't say much, but just that everyone will eat their words and people on reddit/bitcointalk will shed tears.

[10BTCaDay]

It must really suck to get left behind because none of you can see the forest for the trees. Permanent residence under a bridge doesn't sound like a great place to be.

Funny thing is one or two of you don't seem to be completely awful people - you have something to offer if you could only pull yourself out of the whirlpool of FUD you've surrounded yourselves with.

Its the other way around, we're actually not stuck here and this is what a real forum looks like.
We're not forced to suck up to a CEO all day and we're not forced to pretend to be all happy.

We're here because GAW either fucked us, lied to us, or sent C&D letters to the wrong people.
We are also here as investigators trying to provide the SEC with as much information as we can obtain.

It's also fun to make fun of you guys by creating Paycoin(s).