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

[strangerdanger101]

Paybase going to become an exchange now.

https://hashtalk.org/topic/27133/paybase-exchange

[tom14cat14]

This is just flat out becoming sad to watch. Josh can basically spit in their faces by saying "sorry folks no floor" after promising it for MONTHS, and these people just act like it didn't even happen. People poured cash into GAW and didn't receive mining payouts for months, all on the promise of a coin with a $20 floor that was "too big to fail". Now it struggles to stay steady at $9.

I don't think it's actually possible to make these sheep open their eyes. Josh could stop paying out of his ponzi database for the cashtakers, and people would hang around for months crying "WE LOVE YOU JOSH, WE TRUST YOU JOSH, YOU'VE NEVER LET US DOWN JOSH WE KNOW YOU WILL MAKE IT RIGHT!".

How many times do you need to be deceived before you decide you've had enough?

This is hat I dont get. I am invested there and I am pissed. It makes me even madder how most over there seem not to care. They forget we gave up payouts for 2 months. They forget people spent money on hashstakers which are free for GAW so 100% profit, they forget they have "investor" money which. If this is all true where is this money? I was developer for Firecoin for a while and I had all of the current features paycoin has. It didnt look as nice but still had in wallet trading. That is really all paybase is right now. It was PoS also, so that seams like everything paycoin has. I can tell you that if GAW spent more than a few thousand dollars on the stuff they have they over paid.

[AtomicFrost]

Paybase going to become an exchange now.

https://hashtalk.org/topic/27133/paybase-exchange

"So we bought the most stable exchange, and are now integrating it in to Paybase. I have every developer working in this "

Well, they recently purchased Coin-Swap; an exchange that Josh was crapping on just a few weeks ago. . . Now it's the most stable exchange ever. I'm glad to see they have every developer on this side project. It's not like PayCoin needs any more development.

[geegaw]

Perfect, we just bought ourselves min. 6 weeks delay on everything with this tray of milk and cookies to soothe the kids.

[Mr Felt]

Already deleting threads in 2015.  

http://imgur.com/a/8sgGS

Edit: At least they admit the coin is not usable.
Edit 2: Its back, different thread but similar title.

[bananafana]

Does anyone outside of the initial miners believe this will end up anything more than a few cents in 2015?

I do. I don't own any XPY, never have, never will. I think it's scammy as hell.

But he's got a dedicated base of true believers. The number of coins actually available to trade is tiny and easy to manipulate. The market cap looks huge because it counts all the premine coins, so it looks a lot bigger than it really is. There will be some kind of pre-paid card or something, some lame shopping options. He just posted that he's going to integrate an exchange into paybase, which will make manipulation even easier and provide new sources of cash flow. Just because it's scammy doesn't mean it's a short-term pump and dump like so many alt coins with huge premines. This one's got legs. It's going to take some time to play out.

[jackbox]

It's so funny because two weeks ago Coin Swap was unknown and shit according to Homero, and now it is the best and greatest, most super duper exchange to be ever grace the planet Earth and the Universe for that matter. More crap to keep the morons happy (or is it befuddled?).  

[interstellar]

[snip]

I'm in agreement here.  The floor problem bothers me the most.

You are still pro-gaw right? Do you own a bunch of hashstakers? How do you handle the idea of being stuck with them for 3-6 months when the value of paycoin2 is so low you can't possibly make a profit on it? Do you see any hope at this point?

I've always said I was fairly neutral about the whole thing.  I do like to bust some chops every now and then (I do so at HT too.)

I converted all my primes into the expiring kind to try and extract as much as I could in 6 months.  Cashing out at the market rates just wouldn't have cut it.

I don't see how any of this paycoin thing is going to work.  I sincerely doubt I'll be able to get out in 6 months and hundreds of others will be looking to cash out at the same time.

I'm stuck.... but I'm doing my best to get out.  So... if things get better in the next 3-6 months... great.

That is smart. You are doing the best you can. Stay positive and keep alert. There will probably be a few exit points were you can get out with ROI or even make a profit. These do seem to pop up now and then. Just keep an eye out for them.

[AtomicFrost]

Pretty large sell wall on Cryptsy   0.02726170   1500.00000000     40.89255000 BTC

This will take awhile to burn through; buys are slowing way down. The faithful must almost be fully tapped out.

[interstellar]

I hate to admit it but this has gone badly, I was one of the few lucky ones who did snap up the $20.06 on offer through pay base, however I was stupid enough to reinvest. I am closing out the position and will still get an average price of $15. However I am now seeing this for what it is and that is just another alt coin, everything you can do in Pay Base once on line I can already do in one format or another here in Australia with BTC.

As for the hash stakers all of mine were converted hashlets as there was no point in keeping an investment that was never going to win, the premier account doesn't do anything for me as I am in Australia and most of the features will be US based, as Josh is trying to ensure everything he does is within the law only US citizens will be able to get a debit card.

Hashstakers are already a dead investment, if you bought a staker you have no chance of a ROI at $9.00 per coin. The converted ones will only miss the opportunity to sell their coins as the market is dying.

With only 1.4 million dollars in trade yesterday Josh should of been able to keep a $20 floor in place but chose not to, in fact had of Josh put and kept a $20 floor in place the markets would now be trading at around the same level.

So I now find myself asking what has happened to the supposed 100 million fiat, and the 10 million in BTC mined (as stated in the WJS article), the 10 million in BTC alone should have held a floor price.

I have been a semi supporter of GAW but now find the lies are to far fetched for me, I actually think LTC gear has more chance of paying me this week then I have in seeing the $20 floor price again.

So I must say I now think that most people here are right and I was probably wrong.  

I'm in agreement here.  The floor problem bothers me the most.

Floor? You mean this floor bothers you?



Looks fine to me. I think you should send more money to Josh because he is a real swell guy.

Oh, and the real XPY floor does not actually have a cool slide like that. You just plummet down and go splat. 

dam i was really wanting the slide seemed so cool

I am always man enough to were my loses, just as I have with LTC Gear, I am just lucky that Prime Hashlets got me into a position of profit when I got extremely lucky and they went to $50, I sold 1 account that cleared all money spent on Crypto and have been playing with profit ever since, I also ensure I take a little for myself every week.
I also do not believe there are any large investors and the tiny chat love in did nothing to inspire me, I feel for the people who paid $20 via credit card on Paycoin.com with the belief that there was a floor. To make it worse there is one Guy who bought 20K worth and then bought hashstakers to stake them. So effectively spent 39K for a 180 day return of more than likely of 26K including the return of his coin, a 13K loss and I am sure he is only the tip of the iceburg.
I have only converted stakers and I cash my earnings every day regardless of price, this goes towards my weekly earn, will I stake again when some of these expire, Hell would have to freeze over or Pay Coin would have to somehow become a success.
My main problem now is where to invest, home mining is out of the question power rates are to high in Australia. A lot of sites have fallen over, so for now I seem to be in a holding pattern.
I am glad I did not cop an absolute flogging here, and if you now of any where to invest I am open to suggestions

AMHash is probably the most transparent mining operation out there. Datacenter photos, live viewable hashrate, mining addresses released.

Google search AMHash.

What about bitmain? That is a legit operation right? Weren't they just have a .5BTC per TH sale and it sold out in a flash? That one sounded interesting.

[suchmoon]

The price is also not doing very well. I can't believe they're backing out of this $20 floor and people are buying their excuses.

They're not backing out. Josh already mentioned multiple times on Hashtalk over the past weeks that the $20 floor will be reached over a period of days or weeks depending on how the market reacts.

How is that different from any other coin that never promised any floors? All of them depend on how the market reacts. You could say that LTC has a $20 floor, that might be reached at some point in the future depending on how the market reacts.

[suchmoon]

What about bitmain? That is a legit operation right? Weren't they just have a .5BTC per TH sale and it sold out in a flash? That one sounded interesting.

What are their maintenance fees ATM? I think they used to be quite a bit higher than Amhash. But yes, Bitmain is about as legit as it gets in this business.

[interstellar]

OK if you say so....

class

paybase generously going to accept credit cards soon, so people who don't have BTC left (or for whatever reason cannot buy some) can still beggar themselves with ease.

If it's a gaw credit card, you think it will be free but then on sign up day it will cost $50 to get one. Somehow they will also attach a 5%-10% fee on it every time you use it. Oh btw, it will have absolutely nothing to do with PayCoin2 at all.

[suchmoon]

How do you think these people get paid?

The money doesn't appear from nowhere..
You're paying these people's salary in return for promises that never seem to happen.

Since we don't know for a fact how they get paid or their actual involvement in the business decisions maybe it's best to avoid reposting their names in this context. I think anyone who is publicly speaking on the subject, e.g. CEO, jmordica, maursader, etc, is fair game for criticism. Others - leave them out of this until such time as facts are available.

[Zelig]

Pretty large sell wall on Cryptsy   0.02726170   1500.00000000     40.89255000 BTC

This will take awhile to burn through; buys are slowing way down. The faithful must almost be fully tapped out.

Bryce Weiner, Will Pangman, & David Seaman spend some time in this YouTube video discussing the Paycoin ponzi.  

https://www.youtube.com/watch?v=w90SspSJSgs

Z

[jackbox]

The debit card is delayed because the local Walgreens ran out of the prepaid Visa cards. Josh had to send Amber to the next town over to get some more. You can buy them on PayBase when Amber gets back from the Walgreens.

[suchmoon]

If it's a gaw credit card, you think it will be free but then on sign up day it will cost $50 to get one. Somehow they will also attach a 5%-10% fee on it every time you use it. Oh btw, it will have absolutely nothing to do with PayCoin2 at all.

FUD. It's not a fee. It's how big brain works. It will be sorted out (i.e. everyone will forget about it as there will be other screwups to complain about).

GAWCEO
Admin
Moderator
Industry Innovator

It's not really a fee, it's more of a spread.

What happens is when you place your order, it get locked in at the same rate. VS an exchange which the order may take place at different pricing. When you place an order with paybase you lay the same amount, even if the order is too big and the price moves up while it filling. It covers that spread.

We are also being charge exchange fees, buy helping move the other markets up.

It will be sorted in the next for days. If you cans stand a few extra % knowing that it's helping stabilize Paycoin. In a few day. There will be no fees and no restrictions in sells

[alienesb]

Paybase going to become an exchange now.

https://hashtalk.org/topic/27133/paybase-exchange

"So we bought the most stable exchange, and are now integrating it in to Paybase. I have every developer working in this "

Well, they recently purchased Coin-Swap; an exchange that Josh was crapping on just a few weeks ago. . . Now it's the most stable exchange ever. I'm glad to see they have every developer on this side project. It's not like PayCoin needs any more development.

The developers are a lie.

[jackbox]

Paybase going to become an exchange now.

https://hashtalk.org/topic/27133/paybase-exchange

"So we bought the most stable exchange, and are now integrating it in to Paybase. I have every developer working in this "

Well, they recently purchased Coin-Swap; an exchange that Josh was crapping on just a few weeks ago. . . Now it's the most stable exchange ever. I'm glad to see they have every developer on this side project. It's not like PayCoin needs any more development.

The developers are a lie.

Pretty much everything he says is a lie. Where are the best developers in the world who were the only ones that could build the non-existent hybrid thermodynamic reverse corollary blockchain?

[suchmoon]

Warning - the following is my theory only: I think they never had any serious profits, either due to mismanagement or some other issues. Especially since mid-October they have been reluctant to spend ANY real money on anything. E.g. they claimed $50 million marketing budget, $100 million floor, "teams" and "companies" working on the coin and paybase etc, while the actual results show the opposite. Cheap coin clone, some ads on obscure "news" sites, barely functional Paybase and of course no floor now. They seemed to be trying to pump the coin on hype alone, and perhaps they put a few hundred BTCs on Paybase for 5 minutes at launch. I doubt they blew 100k or 500k or whatever on Cryptsy, those spikes could have been someone else's arbitrage bots fooled into buying.

There is obviously no way to prove this, but there are just so many red flags pointing in that direction that it would be one hell of a coincidence. Like the refusal to sell any of their own products for XPY.

Ok... but to what end?

I think it's a pre-order/pre-sell kind of deal that never works out as intended due to incompetence. They wanted a big mining farm, but had no cash - sold a bunch of hashlets and purchased Bitmain hardware. BTC mining profitability went down, they decided to create a coin and a payment processor - sold a bunch of Hashstakers and debt obligations (hashpoints) to finance that but can't get it off the ground. Wait for the next big idea and some kind of instrument to finance it.

Some others here think that it's an elaborate scam pretending to be incompetent to avoid culpability.