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

[AnimoEsto]

I dont know if this has been posted here - but an interesting part about GAWMiners from around 6mins in

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

[jackbox]

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.

They did purchase Bitmain hardware but I doubt most of it was every put on line. Seems like most of it is being sold off at oneminer.com. Another Gawsome company.

[suchmoon]

Hey haters, i wish you a good 2015!
Try to evoluate a bit, don't be always so negative in your life.
Grasp some fresh air and enjoy a real life 😄

Thank you, although ovulating wasn't in my plans for the year  

[strangerdanger101]

I dont know if this has been posted here - but an interesting part about GAWMiners from around 6mins in

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

haha awesome they breaking down the scam to a T great find thanks for sharing this!

[Paul Revere]

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

Thanks for explaining that Josh. There is no fee, yet if you can bear paying this fee to help stabilize my bank account, in a few days there will be no fees.

Doublethink:

Doublethink is the act of ordinary people simultaneously accepting two mutually contradictory beliefs as correct, often in distinct social contexts.[1] Doublethink is related to, but differs from, hypocrisy and neutrality. Somewhat related but almost the opposite is cognitive dissonance, where contradictory beliefs cause conflict in one's mind. Doublethink is notable due to a lack of cognitive dissonance — thus the person is completely unaware of any conflict or contradiction.

Here is some Doublethink for you Mr. Garza:

You are not a stinking liar and con man ripping off innocent fools, you are a stinking liar and and con man ripping off innocent fools.

[tom14cat14]

I am pretty sure I am going to get banned today. I just can’t handle everyone letting them off the hook on this. There have been many quotes of Josh saying paybase will buy coins at $20. If they would have done this I would still have kept most of my coins. If they showed they could keep the currency stable I would hold the coin because I want a stable coin. I don’t keep large amount of BTC because I do not want to be exposed to fluctuations in prices. So if they could have fixed that I would have held their damn coin. Now I am posed along with many others. They are further just isolating themselves form the rest of crypto

[bmgbmg]

tom, don't worry, everyone loses some, perhaps more than others.  The main reason that everyone is here saying it's a scam that it is because it keeps the newbies from getting ripped off.

Last year I broke even with crypto.  Made some and lost some (hacked sites, dumped coins).  Now I invest in cryptos with great technology (messaging, audio, video, etc) which I think is the future.

I am pretty sure I am going to get banned today. I just can’t handle everyone letting them off the hook on this. There have been many quotes of Josh saying paybase will buy coins at $20. If they would have done this I would still have kept most of my coins. If they showed they could keep the currency stable I would hold the coin because I want a stable coin. I don’t keep large amount of BTC because I do not want to be exposed to fluctuations in prices. So if they could have fixed that I would have held their damn coin. Now I am posed along with many others. They are further just isolating themselves form the rest of crypto

[alienesb]

I am pretty sure I am going to get banned today. I just can’t handle everyone letting them off the hook on this. There have been many quotes of Josh saying paybase will buy coins at $20. If they would have done this I would still have kept most of my coins. If they showed they could keep the currency stable I would hold the coin because I want a stable coin. I don’t keep large amount of BTC because I do not want to be exposed to fluctuations in prices. So if they could have fixed that I would have held their damn coin. Now I am posed along with many others. They are further just isolating themselves form the rest of crypto

That was the point of the floor, stability for retailers. In the end it was just lies to separate you from your btc.

[knowhow]

happy new year to all!!!


about paybase is is open already ?

i am trying to cashout already over 5 days,the authy app isnt working no call no sms,the phone number less.. nothing working and i got my money frozened i already send ticket to authy as to gaw support ,that some stupid person answer me the 2fa were a decision from CEO ,anywhere im present you got asked if you wanna make it no one forces you to use something you know is bullshit nothing else
I had cashout on the begining and i didnt made the 2fa on that time now im forced to use it ,even  when isnt working and no one wanna fix those problem.... soo main question anybody at same situation as me ? frozen funds?this is the future they offer to new users as old?

Im out of patiente too many bla bla bla and nothing working wake up world.......

[wajiminer]

I had a decent amount of xpy.. I sold it not for 20 unfortunately but more like 12

I then proceeded to then buy it sell it buy it sell it, and daytrade my ass off for the last couple of days and have tripled my btc  

I personally hope this instability stays around for a while.. wonderful stuff for daytrading

[10BTCaDay]

Help remove Josh Garza from the BTCMiami conference:
http://www.reddit.com/r/Bitcoin/comments/2r0twz/josh_garza_must_not_be_allowed_to_speak_at_the/

[JoostB]

Help remove Josh Garza from the BTCMiami conference:
http://www.reddit.com/r/Bitcoin/comments/2r0twz/josh_garza_must_not_be_allowed_to_speak_at_the/

They should remove this Jonah Dorman as well!

[bitpop]

More fud from the trolls guys
https://www.reddit.com/r/Bitcoin/comments/2r0twz/josh_garza_must_not_be_allowed_to_speak_at_the/

[jfabritz]

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

Like Popeye said, "I cans stands it nomore!"

No wonder why BitJane is following him around like a mother after a child spilling Cheerios all over the floor.

[LiteCoinGuy]

its a wild west in this early days.... 

[10BTCaDay]

Paycoin is not going to succeed when Josh Garza is the most hated person on reddit/r/bitcoin/ | reddit/r/cryptocurrency | bitcointalk | litecointalk | ltcgeartalk

He bans anyone that has anything to say against him on his own forum and all he has left is a couple hundred 'cult' followers...
You'll need more than a couple hundred people to make paybase happen.

[bubbaj]

What is rather strange is any other company would of had most features ready to roll on day one, the actual ideas aren't that bad just the execution and lies about a massive cap for a floor.

Lets say in fairy land the lord of Fairy land did have some sort of financial pixie dust to spread around, he could of stopped the slide reasonably quickly if he really did have 200,000 customers. From day 1 Josh announced a maximum cap of $700 per week per account in exchanging XPY to BTC, now if he had opened pay base buy invitation only to Zen account holders, he could of given them the $20 price and they in turn would of went to the open markets and bought every coin cheaper than $20. This alone would of stopped any slide.

No what does Josh do, absolutely nothing, and blames people on this sight as the cause, for fuck sake the whole sales over the one day equated to 2% of his supposed financial backing.

Is this a Ponzi, absolutely, has Josh got rich off this, probably, will Josh go to Jail eventually, well I am sending him some KY jelly now.

If I was a customer who bought Pay Coin or a Staker with a Credit Card I would be doing a charge back, you did not get what you paid for and that would be fairly easy to show a CC company that is the case. If you couldn't get it back then maybe ask your local consumer protection agency for assistance. Josh made promises and statements of a $20 floor with $110 million in backing that alone if proven untrue will see you get your cash back, I am just waiting for 1 person in the US who is a customer to take Josh to federal court, as once that happens Josh will need to back his statements with fact. Quiet frankly I am surprised that this has not ended up in class action territory.  

[Paul Revere]

Yet another clueless fool on HT trying to get the other clueless fools to give Josh more money:



Where to start with this idiot, right? Can they really not figure out that it is most likely the GAW insiders dumping many of these coins? They only have millions of them (and hardcoded means for creating more of them by the gazillion) and if they hold them they will continuously go down in value. I think this moron needs to get busy and earn some more money to buy up more of the XPY being gradually dumped , maybe he can pick up some beer cans on the side of the road and get another dollar to put directly into Josh's pocket while Josh smirks and spits on the effing fool.

I will state this as simply as I can for you moron: Paycoin is not a magical new system of commerce that will free you from those nasty banks and also make you rich in the process. It is a system designed to take your money and put it in Josh's pocket. Josh is not a financial messiah sent to Earth to hand out free HamBurgerZ to hapless morons, he is a con man who is taking advantage of your naive belief that there is no such thing as someone who will lie to you and rip you off.

https://hashtalk.org/topic/27151/to-the-none-dumpers-lets-help-josh-like-he-has-us

[suchmoon]

Doublethink:

Doublethink is the act of ordinary people simultaneously accepting two mutually contradictory beliefs as correct, often in distinct social contexts.[1] Doublethink is related to, but differs from, hypocrisy and neutrality. Somewhat related but almost the opposite is cognitive dissonance, where contradictory beliefs cause conflict in one's mind. Doublethink is notable due to a lack of cognitive dissonance — thus the person is completely unaware of any conflict or contradiction.

<<UPVOTE>> for the 84 reference. Sometimes I think that the CEO had dust jackets mixed up between "1984" and "How to become a Crypto Titan by Friday"  

It's a beautiful thing, the destruction of words.

He who controls the past controls the future. He who controls the present controls the past.

History has stopped. Nothing exists except an endless present in which the Party is always right.

Until they became conscious they will never rebel, and until after they have rebelled they cannot become conscious.

Oceania had always been at war with Eastasia.

If you kept the small rules, you could break the big ones.

Stupidity was as necessary as intelligence, and as difficult to attain.

... the entire book is freakin' gawsome...

[cryptofunk]

Paybase going to become an exchange now.

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

What amazes me every time is how they *make strategic alliances* with companies then turn around and shits on them within weeks from holding them on a pedestal (Gridseed, Zeus, Cryptsy, etc.). Not even a week ago they were how the *brain* of PayBase was leveraging other exchanges, today exchanges are crap and their plan all along was to build an exchange.

It's always everyone else's fault, 0 accountability for anything.