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

[suchmoon]

I want to know why they are using their "test prime" outside of the test network.

I'm sure you know that real programmers always do it in production. I'm also sure that those test coins will be burned with all appropriate proof.

[vabchgent]

Okay let me get this straight they have a prime controller running out of there test network generating coins at around 125k a day and by the looks of things dumping them. 

[ZiG]

This thread may not last long:

https://hashtalk.org/topic/27761/what-and-why-is-this-address-so-important/

If anybody can hook me up with a hacked Prime Controller I'd be happy to buy some coins and then dump my super inflation on the exchange.

I tried to figure out a while ago how I could get voted into one of them Primes if I buy 125k coins. Turns out they were just hardcoded in the source code. On top of that not all Primes are equal, the 350 ones are the real deal. I wish I knew vancefox's findings yesterday, that rogue Prime would have made a much better question for CCN.

Jmordica says that is their test Prime...which just really confuses me. A few immediate questions are 1) Where did the test coins come from? 2) Why are they staking real coins in a test environment on a prime that isn't registered?

In general, this is just very confusing. I can't really understand this one or what it means.

Please can somebody explain to me like to 5-years old...:

I REALLY DON'T UNDERSTAND 1 (ONE) thing...:

HOW anybody in his right mind (NOT insane) after SO MANY LIES ...COULD STILL believe even a single word Homero or/and GAW is saying...

This is the question that I can NOT COMPREHEND...Period.

This above is another proof of blatant lie(s)...misleading...twisting the truth...you name it...

Personally I do NOT believe even a SINGLE letterword from them...

ZiG

[suchmoon]

HOW anybody in his right mind (NOT insane) after SO MANY LIES ...COULD STILL believe even a single word Homero or/and GAW is saying...

Greed. And poor understanding of math and finances. But mostly greed.

[ZiG]

HOW anybody in his right mind (NOT insane) after SO MANY LIES ...COULD STILL believe even a single word Homero or/and GAW is saying...

Greed. And poor understanding of math and finances. But mostly greed.

101% AGREE !

"Test" controller ...on the LIVE network...

Maybe they are selling "Test" Paycoins for your REAL $$$ ...

Why NOT ... ...ANSWER : GREED...

ZiG

Good night...

[suchmoon]

what is an MSB ?

Money Service Business (MSB) license is one of the regulatory licenses they should have at least applied for. In the US you can apply easily and within 2 weeks get an confirmation that the application is in process and have proof that you applied.
GAW has stated the following:

"PayBase, in alignment with and guidance from FinCEN, the IRS, the BSA and international government authorities will be licensed as a Money Service Business (MSB) and will follow all US and international regulations."

But when questioned multiple times they are ignoring providing the verifiable number, whether the filed already or when they will file. When people looked up the registry they found no evidence of GAW , paycoin, paybase or any other iteration of filing within the last 2 weeks .

IMHO this should have been done a long time ago if they want to go the highly regulated route and be completely above board like they are claiming.

http://fincen.gov/financial_institutions/msb/msb.registration.letter.html?ID=8835955

Look at the signature date. Good job guys, you reminded them to apply for MSB Registration.


Edited 2020-11-28 to fix a broken image

[jfabritz]

I want to know why they are using their "test prime" outside of the test network.

I'm sure you know that real programmers always do it in production. I'm also sure that those test coins will be burned with all appropriate proof.

Just like those cuban cigars I used to order many years ago that got confiscated by Customs... Incinerated I am sure...  

[maildir]

I am glad to see that this thread has become civil again. The people who have purchased items from GAW have no doubt that they have been fooled, now whilst you may not like this just remember they are not all old hands, some have only been in Crypto for a matter of weeks, some of these people couldn't afford to lose their money.
It is fair enough to tear down Josh and Gaw if you want but remember if a lot of people get burned badly then they will turn their backs on this whole industry very quickley

Be incredibly careful some might just be in a good mood in this particular time pf space. Anyone's suggestion that their particular thinking and ways are suddenly being adhered, will, guaranteed, result in catastrophic results, not only for the proclamation but the pro claimants defendant.

[Phildo]

Guyz halp

https://www.reddit.com/r/Bitcoin/comments/2r9l72/a_message_from_gaw/

Interesting:



Hard to believe based on the fact that they were selling $20 coins on their site before PayBase launched. Is he trying to say that the $20 they got from the sale was completely offset by other costs?

Also, nice that he completely avoided the question. I'm sure he made plenty off the Hashlets, marketplace, etc...

It's cute that he's at least still playing along.

They haven't made any money from paybase? Interesting considering they sold coins there for 20 and sell coins there with a spread and fees.

Also, how much money did they make selling hashlets that were used to mine hashpoints that people only wanted so they could get paycoins to sell on paybase for $20?

[CHAOSiTEC]

in regards to mods and NDA:

if i would be running a.. hmm.. shady business with a forum, i would make sure the mods where to sign an nda, not because i would want them in the loop, more so because if they by accident should learn some little piece of info, then the nda would prevent them from spilling it ( not in legal term, think psycology)... it will put up a block in peoples minds..

[suchmoon]

in regards to mods and NDA:

if i would be running a.. hmm.. shady business with a forum, i would make sure the mods where to sign an nda, not because i would want them in the loop, more so because if they by accident should learn some little piece of info, then the nda would prevent them from spilling it ( not in legal term, think psycology)... it will put up a block in peoples minds..

The same could be said about a legitimate business - if something of importance gets accidentally spilled you might want to have an NDA in place to be able to sue someone's ass if that information ends up with a competitor.

In other words existence of an NDA doesn't mean anything. I've signed ridiculous NDAs for frickin' job interviews - ironically including Amazon - doesn't mean Amazon is shady. It's just that in GAW context the NDA excuse gets thrown around so much that it has become almost an automatic red flag.

[Sujoy]

If this is a compounded 350% it means more than 3000% annually (non compounded equivalent) doesn't it?

And ...

Wait, if it's 1% daily then you're right. That means 6 million XPY in Prime Nodes creates over 180 million of new coin every year for the hardcoded addresses.

I've been a mainly silent observer to this ongoing drama, but I cracked and couldn't help posting in hashtalk over some incredible oversights. How come no-one is going crazy over the prime stake rate that is currently hardcoded to GAW addresses? People have been saying that it's 350%, which would be insane... but if I read the code correctly it's actually just under 1% compounded daily, which equates to over 3,000% annually. How can any coin survive hyper inflation like that?

6 million XPY in Prime nodes becomes ~ 180 million XPY after Year 1.
5,400 million XPY after Year 2
162,000 million XPY after Year 3
etc...

If the coin was actually worth $20, the market cap would overtake the total amount of USD in circulation halfway through Year 3! In Year 4 Paycoin would be worth more than all the other money that exists on the planet.

[interstellar]

If this is a compounded 350% it means more than 3000% annually (non compounded equivalent) doesn't it?

And ...

Wait, if it's 1% daily then you're right. That means 6 million XPY in Prime Nodes creates over 180 million of new coin every year for the hardcoded addresses.

I've been a mainly silent observer to this ongoing drama, but I cracked and couldn't help posting in hashtalk over some incredible oversights. How come no-one is going crazy over the prime stake rate that is currently hardcoded to GAW addresses? People have been saying that it's 350%, which would be insane... but if I read the code correctly it's actually just under 1% compounded daily, which equates to over 3,000% annually. How can any coin survive hyper inflation like that?

6 million XPY in Prime nodes becomes ~ 180 million XPY after Year 1.
5,400 million XPY after Year 2
162,000 million XPY after Year 3
etc...

If the coin was actually worth $20, the market cap would overtake the total amount of USD in circulation halfway through Year 3! In Year 4 Paycoin would be worth more than all the other money that exists on the planet.

]

And here is the cultists' reply:

[interstellar]

in regards to mods and NDA:

if i would be running a.. hmm.. shady business with a forum, i would make sure the mods where to sign an nda, not because i would want them in the loop, more so because if they by accident should learn some little piece of info, then the nda would prevent them from spilling it ( not in legal term, think psycology)... it will put up a block in peoples minds..

Garza is seemingly always in crisis mode and probably makes a bunch of mistakes with what he tells people, so that's why I think trying to probe the mods' memories a little might help. It might be something they don't even realize right now is evidence.

[corygto]

Ok, since you're so keen on protecting the fraud, when the police come knocking and you refused to contact them with your evidence of this scam because of some "NDA" (Homero, is that you?) you will be arrested for aiding and abetting a scam for your lack of action to contact authorities. If you think the FEDs won't get your IP logs from Bitcointalk, or HashTalk for that matter, then you have no idea who you're messing with. I think Theymos would personally be grateful to hand over such documents.

So you're the FEDs or the Police now? I wasn't aware of that. I'll happily speak open with you... gtfo.

Its you who's making allegations now. You don't know what I know or don't know or what I might or might not have been aware of or what my (full) motives are for having quit. So stop trying to tie a knot without a rope. There is plenty of folks out there who know exactly how I deal with things and who I have spoken to many times in the last months. Not having kept you in the loop isn't particularly a crime.

You Sir might truly believe that "forum moderators" had direct 24/7 contact with GAW and insight or access to company information. You clearly have no clue. Most of us were lucky if we could get a tech question answered in under 24 hours and the majority of our own info came from the forum.

I pretty much said all I had to say on HT in my last few posts. This one in particular which also includes a large portion of this community.

Btw don't expect another follow up. As you can tell from my post count vs account age.. I don't tend to follow up.

Eh for what it's worth lizard... You were one of the few mods I respected, along with Animo. You both treated me with fairness and respect. No matter what some of these people say, I'm glad to have you here chatting with us.

I hope the both of you stay for good, and help us find the truth through all of this.

[coinits]

Ok, since you're so keen on protecting the fraud, when the police come knocking and you refused to contact them with your evidence of this scam because of some "NDA" (Homero, is that you?) you will be arrested for aiding and abetting a scam for your lack of action to contact authorities. If you think the FEDs won't get your IP logs from Bitcointalk, or HashTalk for that matter, then you have no idea who you're messing with. I think Theymos would personally be grateful to hand over such documents.

So you're the FEDs or the Police now? I wasn't aware of that. I'll happily speak open with you... gtfo.

Its you who's making allegations now. You don't know what I know or don't know or what I might or might not have been aware of or what my (full) motives are for having quit. So stop trying to tie a knot without a rope. There is plenty of folks out there who know exactly how I deal with things and who I have spoken to many times in the last months. Not having kept you in the loop isn't particularly a crime.

You Sir might truly believe that "forum moderators" had direct 24/7 contact with GAW and insight or access to company information. You clearly have no clue. Most of us were lucky if we could get a tech question answered in under 24 hours and the majority of our own info came from the forum.

I pretty much said all I had to say on HT in my last few posts. This one in particular which also includes a large portion of this community.

Btw don't expect another follow up. As you can tell from my post count vs account age.. I don't tend to follow up.

Eh for what it's worth lizard... You were one of the few mods I respected, along with Animo. You both treated me with fairness and respect. No matter what some of these people say, I'm glad to have you here chatting with us.

I hope the both of you stay for good, and help us find the truth through all of this.

And drop the NDA bullshit.

[miningpros]

at least the market calmes down now , there should be plenty of room to recover a big part and make the coin worthwhile

[el_rlee]

Never bothered to read into the whole GAW-thing - looked like a scam to me from the beginning.

Anyhow, XPY seams to be the Nr. 4 coin by market capitalization right now so I would be interested in

*) Has XPY ever been traded for $20?
*) Is the $20 promise yet to be fulfilled after some exchange opens or did it fail?
*) Can XPY be shorted somewhere, because, honestly, you know...

Thanks!

[dyask]

Never bothered to read into the whole GAW-thing - looked like a scam to me from the beginning.

Anyhow, XPY seams to be the Nr. 4 coin by market capitalization right now so I would be interested in

*) Has XPY ever been traded for $20?
*) Is the $20 promise yet to be fulfilled after some exchange opens or did it fail?
*) Can XPY be shorted somewhere, because, honestly, you know...

Thanks!

No, no and no.   You are out of luck on that one.   

At some point when paybase is functional, then there is supposed to be a $20 floor of some kind.   I don't know if that has been totally destroyed yet or not.

[doogsan]

If this is a compounded 350% it means more than 3000% annually (non compounded equivalent) doesn't it?

And ...

Wait, if it's 1% daily then you're right. That means 6 million XPY in Prime Nodes creates over 180 million of new coin every year for the hardcoded addresses.

I've been a mainly silent observer to this ongoing drama, but I cracked and couldn't help posting in hashtalk over some incredible oversights. How come no-one is going crazy over the prime stake rate that is currently hardcoded to GAW addresses? People have been saying that it's 350%, which would be insane... but if I read the code correctly it's actually just under 1% compounded daily, which equates to over 3,000% annually. How can any coin survive hyper inflation like that?

6 million XPY in Prime nodes becomes ~ 180 million XPY after Year 1.
5,400 million XPY after Year 2
162,000 million XPY after Year 3
etc...

If the coin was actually worth $20, the market cap would overtake the total amount of USD in circulation halfway through Year 3! In Year 4 Paycoin would be worth more than all the other money that exists on the planet.

Well if you want to be the future of banking, you have to think big