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

[bitpop]

People loading up on paycoin at $11 to get $20, let's hope Josh gives them free money

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[SunnyIgor]

Apperently paycoin has new wallet 0.20?
I just send paycoin to crypsy with 0.10
Still 0 confirms, what will happen to this transaction?

edit: i have the .20 now and it shows 23 confirms.
maybe crypsy is on the old wallet to?

[bitcoinnoisseur]

Perfectionistic
Banned

@Daffy Even more the reason, why does GAW have the private keys for the addresses? I wouldn't expect investors to know how to get a public key and give it to GAW.

It looks to me lie this is completely centralized and should not be put in comparison with any cryptocurrency, especially bitcoin.

Add in the fact that they have the ability to rewrite blockchain history...

@mackattack said:

@Cassey please link where you see this in the code??
https://github.com/GAWMiners/paycoin/blob/c8a0ec450cb8bc79ab34bc2f6a061b255ae550b1/src/main.cpp#L1365

https://hashtalk.org/topic/24790/hardcoded-public-keys/13

[xstr8guy]

Apperently paycoin has new wallet 0.20?
I just send paycoin to crypsy with 0.10
Still 0 confirms, what will happen to this transaction?

edit: i have the .20 now and it shows 23 confirms.
maybe crypsy is on the old wallet to?

I just sold my last 20 XPY on Cryptsy an hour ago with absolutely no problem.

[Jacques de Molay]

Promised target, Amazon, Walmart

Got meganet

Funny how its the only one Josh has named without calling them "a huge tier 1 merchant".

Guess the kids of the investors are all getting radar jammers for christmas. Josh delivers the best xmas gifts

Who?

This guy ?  if true then Josh paid him to shut up it seems

https://hashtalk.org/topic/21965/reply-to-email-from-josh-garza/1

(btw this is a company that seems to be closed, and the address points to Taco Bell)

[suchmoon]

So going through the new wallet source code, there's def some references to orion and prime nodes now.

Are these the prime nodes?

So it looks like bidding etc is not yet implemented. Initial Prime controllers are hardcoded. Which is fine I guess for the first round, but it looks like another hard fork will be needed in a few weeks.

Still not sure how one hosts an Orion controller and/or makes money off fees, gotta go read some more.

[bitcoinnoisseur]

Promised target, Amazon, Walmart

Got meganet

Funny how its the only one Josh has named without calling them "a huge tier 1 merchant".

Guess the kids of the investors are all getting radar jammers for christmas. Josh delivers the best xmas gifts

Who?

This guy ?  if true then Josh paid him to shut up it seems

https://hashtalk.org/topic/21965/reply-to-email-from-josh-garza/1

(btw this is a company that seems to be closed, and the address points to Taco Bell)

That would be a Virtual Matrix Encrypted Taco Bell. You would need to harness the full power of bio-mechanical-thermo-nuclear-hybrid-flex technology to decrypt it. Then you would be able to see the true Meganet cloaked behind a typical Taco Bell.

[WaffleMaster]

Still not a bad time to sell guys. There was a decent pump when the lemmings got brainwashed to thinking overstock accepted Paycoin So while it's not the best time to dump, as somebody already shelled out 700 BTC worth, it's still very good. Does the volume on cryptsy relate to how much BTC in trading a coin does, or the coin itself? If so, that's such low volume. Expect a shit storm when GAW is willing to buyback their coins. 176 BTC sell order at .035 LOL. Guys! Omfg double your money on 176 Bitcoins. I know somebody wants to :p

[Jacques de Molay]

Still not a bad time to sell guys. There was a decent pump when the lemmings got brainwashed to thinking overstock accepted Paycoin So while it's not the best time to dump, as somebody already shelled out 700 BTC worth, it's still very good. Does the volume on cryptsy relate to how much BTC in trading a coin does, or the coin itself? If so, that's such low volume. Expect a shit storm when GAW is willing to buyback their coins.

It wouldn't suprise me if gaw allow exchanges to even reach 20 bucks, they will just dump on them.  Why ?

If for some miracle GAW do put up a 20 dollar floor within paybase only, They can bring more people in to their scheme by offering better dumping profits than an exchange - providing the exchanges do not match paybase dollar for dollar and since gaw has the most coin can effectively keep the market suppressed on them.  Then force you to use paybase for 20 buck coins if you want to dump, drawing you in, making you sign up/verify just to dump at that 20 mark.

[WaffleMaster]

Deleted my post. Nobody can know my master plan. Mwuaha....mwuahahaha. MWUAHAHAHAHAHA

[digit]

XPY added on Atomic, running the latest wallet 0.2 and deposits are working
https://www.atomic-trade.com/trade?c=XPY&p=BTC

Check exchange liquidity and wallet status here
https://www.atomic-trade.com/systemstatus
https://www.atomic-trade.com/liquidity

[interstellar]

So going through the new wallet source code, there's def some references to orion and prime nodes now.

Are these the prime nodes?

So it looks like bidding etc is not yet implemented. Initial Prime controllers are hardcoded. Which is fine I guess for the first round, but it looks like another hard fork will be needed in a few weeks.

Still not sure how one hosts an Orion controller and/or makes money off fees, gotta go read some more.

Want to make a fortune on paycoin? Change those hardcoded addresses to your own servers and then get the new wallet distributed to as many paycoin users as possible.  Then enjoy the profit cause you now own all the primes not gaw in respect to these wallets.

Another way to do it might be to write a program that just patches out those existing addresses in the original wallet app to the addresses you want. A little binary editor. And just need to create an app the cultists would want to run on their computers and bam.

[ajw7989]

Didn't GAW say paycoin was suppose to have a $20 floor. I do not see it yet. Is it only in paybase or all exchanges?

[sandog]

GAW is paying something crazy like 300% interest to people with the primes that stake or buy hashstakers and put paycoin in.. The paycoin you put in is locked for 3 or 6 months but the interest they generate is paid out daily.

Mining crypto - generally does make a decent return PER DAY and if people buy miners that are really just out with a great higher efficiency they have been known to ROI in 3 days. So taken out of that only the people who overwelmingly have more power getting the big block rewards and shares and actually rewarding the stakeholders at a high rate being highly profitable - especially in this environment of everyone unable to accept that any company could possibly be anything but self-serving ripoff merchants. That should yeild a high short term reward that over a year adds up to a huge percentage like 300%.

If anything the people on this forum point out how difficult to fathom GAW is and that they can't believe it can work out different to the usual pump and dump or premine shitcoin. Yet so far the coin has launched, bounced back. Now people in this forum are starting to not even comprehend how the business will run. Those people shouldn't invest - but if people think they can see how it will work out. Well they take a risk and the reward should be high.

Every point made here is just out of context, in isolation or poorly thought through and it shows in the way all the ultra-negative predictions are the epic fail and it makes you all look kind of like we few people are smart, you others are all dumb. We others are just taking bets, investing and hoping that it goes ok. If you did that you would feel kind of like "will you doubters just please shut the hell up and leave us to it", you can't say you wouldn't because you would be invested and either you would cut your losses and run for cover or sit it out and evaluate whatever news comes out.

I think you have it backwards. Points made here are red flags, and if taken OUT of context, as you're saying, each can be debated and possibly mitigated. It's when you put all of it INTO context it becomes worrying, that there are just so many loose ends.

I also think that you're contradicting yourself by saying " people in this forum are starting to not even comprehend how the business will run. Those people shouldn't invest" and at the same time "We others are just taking bets, investing and hoping that it goes ok.". So is it a gamble, or an informed investment decision? And if you're taking a gamble why would you want others to shut up? I don't want you to shut up, you can be as excited as you want about your investment, and if you can share some information in the process - even better. Likewise, you can either ignore "doubters" or perhaps make use of information uncovered in the discussion.

Firstly i appreciate the relaxed reply. Some believe that investment is betting, risk - i think when you have a comprehension of the industry that can make you more insightful but possibly less objective decisions. I think if people here can lay out a comprehensive reason why its bad or dangerous. I read this thread for days - not exhaustively - but it hasn't been a pleasure to have to get through the disrespect and emotion to valid points.

I don't believe it has to be transparent, its more a track-record. I generally never invest in anything out of overwhelming mistrust - but i see GAW as a struggling business trying to form a vision albeit very often changing.
I think the confidence of the community is where i invest, the very thing people call out as "gawsters are fools" is also a potential boon. I played a lot of starcraft and watched the community there reject bad-manner gamers and enjoy a much more pleasant experience. To me their cloudmining thing is like a video-game industry thing - those can be billion dollar growth. There is plenty of room for it to go well or poorly but they are clearly working hard to get through very rushed changes and make it work. I am satisfied. Today its even more bright - but for me its more just something to be in and watch. If people over here want to warn and be a public service they need to really make more logical sense.

Ao you just broke down what i said and tried to reverse it with opinion. I don't think you made any strides forward proving anything i said was wrong. I might be a bit vague but i think i am clearer than most people over here.
I think GAW won't necessarily create millionaires because profits will be diminished the more people jump on any bandwagon. Crypto investments mean choosing something high risk, and seeing if it pans out. They are all high risk.

[T0urist]

So going through the new wallet source code, there's def some references to orion and prime nodes now.

Are these the prime nodes?

So it looks like bidding etc is not yet implemented. Initial Prime controllers are hardcoded. Which is fine I guess for the first round, but it looks like another hard fork will be needed in a few weeks.

Still not sure how one hosts an Orion controller and/or makes money off fees, gotta go read some more.

I'm still not sure what half the things "actually do". They seem to be fancy names and everyone on hashtalk refers to them without knowing what they do. You ask about it and are told to read the whitepaper.

[suchmoon]

Didn't GAW say paycoin was suppose to have a $20 floor. I do not see it yet. Is it only in paybase or all exchanges?

Only in Paybase, and since Paybase doesn't exist yet we don't have the floor. Paybase should launch Monday, however there are going to be limits and delays due to KYC verifications, so it remains to be seen if there is indeed a "floor" and how exactly it works.

[suchmoon]

So going through the new wallet source code, there's def some references to orion and prime nodes now.

Are these the prime nodes?

So it looks like bidding etc is not yet implemented. Initial Prime controllers are hardcoded. Which is fine I guess for the first round, but it looks like another hard fork will be needed in a few weeks.

Still not sure how one hosts an Orion controller and/or makes money off fees, gotta go read some more.

I'm still not sure what half the things "actually do". They seem to be fancy names and everyone on hashtalk refers to them without knowing what they do. You ask about it and are told to read the whitepaper.

Well that's nice, except the damn white paper is a dream and not quite matching the reality. Reading it won't help much with how Paycoin works, it's like reading a Jules Verne novel to try to learn how a submarine works.

[T0urist]

Didn't GAW say paycoin was suppose to have a $20 floor. I do not see it yet. Is it only in paybase or all exchanges?

Only in Paybase, and since Paybase doesn't exist yet we don't have the floor. Paybase should launch Monday, however there are going to be limits and delays due to KYC verifications, so it remains to be seen if there is indeed a "floor" and how exactly it works.

I have another possible thought as well. GAW only needs a buffer to mitigate it... its actually quite clever and i'm only just thinking about it now not sure how i missed it earlier. Prior rounds with hashstakers etc have been crowdfunding... promise the earth get a alot of cash and bitcoin this becomes a buffer.

Provide a high return floor at paybase to force rising values at exchanges to match... after all why would YOU sell for $11 at cryptsy when you can get what $20 at paybase? Still with me? Ok now remember those wallets with varying amounts? The 1,750,000 or 2,000,000 constant values? Get those wallets from the rich list and monitor them closely. Its going to matter squat now because after reading this josh will split them further to hide it and mix it around in smaller addresses but its worth posting for people to be aware.

Josh will sell those internal 12 million paycoins at cryptsy to everyday seller accounts to recoup btc that he can then use in paybase to pay people cashing out. It'll now be a slow bleed with him hoping it'll stabilize over time. If it stabilizes before 12 million paycoins (@$20 each) dries up then he makes out like a bandit... if but only 1 million survives thats still $20 million dollars. Continued profits are ensured if they own controllers generating new free coins... with the source hidden they could likely just grant themselves coins.

The KYC compliance etc is a way for him to hide behind whats happening.. Josh just only needs to keep customers happy. Failure and hurt to any of them raises complaints and internal investigations crush him. Bannings etc are a way of controlling this at present as nobody i believe has lost major $$$.

At this point it'll be a slow 3 month bleed out or investigation that exposes this and thats why Josh is hating scott... scott called his bluff earlier as did coinfire. People weren't meant to investigate GAW at the mining stage it was always part of the plan to move to staking to remove the ponzi evident aspect. Hence why the videos sucked ass etc.

The initial rounders will make cash and become the voice to call out the trolls. Its the slow bleed 3 month people that buy at $20 that won't get anything back that are the true victims.

IN SHORT
----------------
Watch those investor wallet addresses and where the coins go.... i'm willing to bet they match exchange transfer and sell amounts on cryptsy etc. This is why investors were never named. They are GAW coins, subsidiary companies etc.

[interstellar]

Didn't GAW say paycoin was suppose to have a $20 floor. I do not see it yet. Is it only in paybase or all exchanges?

Only in Paybase, and since Paybase doesn't exist yet we don't have the floor. Paybase should launch Monday, however there are going to be limits and delays due to KYC verifications, so it remains to be seen if there is indeed a "floor" and how exactly it works.

I have another possible thought as well. GAW only needs a buffer to mitigate it... its actually quite clever and i'm only just thinking about it now not sure how i missed it earlier. Prior rounds with hashstakers etc have been crowdfunding... promise the earth get a alot of cash and bitcoin this becomes a buffer.

Provide a high return floor at paybase to force rising values at exchanges to match... after all why would YOU sell for $11 at cryptsy when you can get what $20 at paybase? Still with me? Ok now remember those wallets with varying amounts? The 1,750,000 or 2,000,000 constant values? Get those wallets from the rich list and monitor them closely. Its going to matter squat now because after reading this josh will split them further to hide it and mix it around in smaller addresses but its worth posting for people to be aware.

Josh will sell those internal 12 million paycoins at cryptsy to everyday seller accounts to recoup btc that he can then use in paybase to pay people cashing out. It'll now be a slow bleed with him hoping it'll stabilize over time. If it stabilizes before 12 million paycoins (@$20 each) dries up then he makes out like a bandit... if but only 1 million survives thats still $20 million dollars. Continued profits are ensured if they own controllers generating new free coins... with the source hidden they could likely just grant themselves coins.

The KYC compliance etc is a way for him to hide behind whats happening.. Josh just only needs to keep customers happy. Failure and hurt to any of them raises complaints and internal investigations crush him. Bannings etc are a way of controlling this at present as nobody i believe has lost major $$$.

At this point it'll be a slow 3 month bleed out or investigation that exposes this and thats why Josh is hating scott... scott called his bluff earlier as did coinfire. People weren't meant to investigate GAW at the mining stage it was always part of the plan to move to staking to remove the ponzi evident aspect. Hence why the videos sucked ass etc.

The initial rounders will make cash and become the voice to call out the trolls. Its the slow bleed 3 month people that buy at $20 that won't get anything back that are the true victims.

IN SHORT
----------------
Watch those investor wallet addresses and where the coins go.... i'm willing to bet they match exchange transfer and sell amounts on cryptsy etc. This is why investors were never named. They are GAW coins, subsidiary companies etc.

I'm not even sure they have to sell from their initial coin hoard. They may just be able to sell off the coins they generate from staking since staking pays such an outrageous percentage. Slowing the bleed of the outgoing XPY conversion really helps them.

So for example for every coin they exchange on their market for $20, they sell 1.X newly minted coins on crypsty to cover the cost.

[sandog]

Coin-swap is off the XPY bandwagon for a while it seems.. Just noticed this on the main page:

We are reverting to our old trade engine and auditing our books. We greatly apologize for the inconvenience.
Update 12/20 9:22 AM ET: Good morning. I will not have much of an update right now except that our new engine did not work as intended. We have been informed that people were able to withdrawal more than they should have been able to. Thank you to those that informed us. The next step is going to be a very long and detailed look at our logs. There is no other solution than to go through all of the transactions one by one and there are a few thousand. This will not be fast and we will not open up until we have a good handle on our situation. I GREATLY apologize for the mess. My name is Ian Childress and my Linkedin profile is https://www.linkedin.com/pub/ian-childress/4/883/649. I am not a scammer, I made code that broke. I will give more details as I have them.
Update 12/20 9:37 AM ET: Quickly checking in. I want to confirm that no one gained illegal entry into our system at any time. It was not a hack, it was faulty code that didnt adjust balances properly. It was about a 20 minute window from what I can tell. We still have the vast majority of our reserves but until I can say yes this is your correct balance, you may withdrawal it I cannot open back up. Due to the balance bug, SOME people have a higher balance than they should have. This makes our database balance and wallet balance not match up. Until we can determine exactly where everything went, we cannot open. I expect this to take at least 24 hours. I greatly apologize and take full responsibility. I will not disappear, I will continue to work until everything is resolved in the best way possible.

What is it about all these companies having never heard of proper QA, you would think that deposit/withdrawal would be tested extensively as they are the core of the system and can bankrupt them in a mater of minutes?!  Also, how is this even remotely possible for a company keeping a database balance and a wallet balance to not code an automatic shutoff if there is a discrepancy above xx%? 

I hear you about QA, testing ... thats kind of dropped away over the last decade.
Coding auto-shutoff is just another un-necessary feature, exactly the kind of thing you don't want to make step by step iterations work. However, for a trading platform to fuck up this bigtime, thats pretty business ending kind of stuff.