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

[Paul Revere]

Interesting...

Gaw just updated their sales page...:

http://www.gawminers.com/collections/all-miners

Now they are selling BitMain Antminers S3 and S4...

ZiG

And "only" $20 more than Bitmain is selling them for! Wow, get em while they're hot luke warm and cooling kiddos!

[1713894689]

1713894689

[1713894689]

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[1713894689]

1713894689

[puwaha]

At the begining of the week two people bought between them 150btc of paycoin through paybase not one of these trades went thru any exchange

So?

so josh said buys thru paybase would be from exchanges but there not so where are all these xpy coming from.

How do you know they are not coming from the exchanges?  They don't buy them in one block from one exchange per sale.  They mentioned that they have "enterprise" accounts with the exchanges, and my guess is that they round-robin them to keep the buying price low.  They keep the "spread" as profit.

Where did Josh promise that? What was the exact wording?

https://hashtalk.org/topic/26168/paybase-version-1-paycoin-stability

"As the purchase of XPY starts to flow through Paybase, it will stabilize the market. I know it does not sound exciting, but it’s the more important process to make all this work.

The more confident people are in XPY, the more they will use it.

The back-end engine is what we have spent the most time developing. It leverages all our buying power, then moves between exchanges to help level the price. Essentially, it works like an exchange, but with the function of creating market stability."


Also... here:

https://hashtalk.org/topic/26626/paybase-beta-is-here

"Paybase is now integrated into many exchanges (that's the feature we spent most of our time building) and its programmed to monitor the price and depth of the order books on those markets. We have programmed Paybase to leverage those open markets first, so it will grab orders faster than any human can - maintaining the target price and refilling the coffers so we can serve our customer’s needs to buy and use Paycoin."

[alienesb]

GAW gives you the PSU though it looks like:

WHAT IS INCLUDED:


1 x Antminer S3

1 x Power Supply (12V DC)

1 x 4 PCI-e connector


1 x Ethernet cable

[suchmoon]

GAW gives you the PSU though it looks like:

WHAT IS INCLUDED:


1 x Antminer S3

1 x Power Supply (12V DC)

1 x 4 PCI-e connector


1 x Ethernet cable

Looks like free shipping too?

[ZiG]

GAW gives you the PSU though it looks like:

WHAT IS INCLUDED:


1 x Antminer S3

1 x Power Supply (12V DC)

1 x 4 PCI-e connector


1 x Ethernet cable

Just wondering ...could you buy them with ShitPaycoin ...

ZiG

EDIT...:

Answer ...you guess right ...is NO XPY payment ...

[MinermanNC]

GAW gives you the PSU though it looks like:

WHAT IS INCLUDED:


1 x Antminer S3

1 x Power Supply (12V DC)

1 x 4 PCI-e connector


1 x Ethernet cable

Do you actually trust buying an S3 from gaw at his point? lol, not a bad deal if they actually ship as expected.....

[alienesb]

GAW gives you the PSU though it looks like:

WHAT IS INCLUDED:


1 x Antminer S3

1 x Power Supply (12V DC)

1 x 4 PCI-e connector


1 x Ethernet cable

Do you actually trust buying an S3 from gaw at his point? lol, not a bad deal if they actually ship as expected.....

Meh, I've received miners from them in the past and when it comes to not delivering physical hardware it's a whole different ball of wax legally.

[strangerdanger101]

For entertainment purposes only.  There is no concrete evidence that Kim Josh Un is in fact the dear leader of the XPY army.

[demonz]

Interesting...

Gaw just updated their sales page...:

http://www.gawminers.com/collections/all-miners

Now they are selling BitMain Antminers S3 and S4...

ZiG

I wonder if this is from them as well. Same price

http://www.ebay.com/itm/Bitmain-Antminer-S3-SHA256-Bitcoin-BTC-ASIC-Miner-453Ghs-USED-Not-S1-S2-/231447591461?pt=US_Virtual_Currency&hash=item35e359fa25


*edit*
Seems unlikely because of location.

Item location:
Elkridge, Maryland, United States
 
Ships to:
United States

[bananafana]

At the begining of the week two people bought between them 150btc of paycoin through paybase not one of these trades went thru any exchange

So?

so josh said buys thru paybase would be from exchanges but there not so where are all these xpy coming from.

How do you know they are not coming from the exchanges?  They don't buy them in one block from one exchange per sale.  They mentioned that they have "enterprise" accounts with the exchanges, and my guess is that they round-robin them to keep the buying price low.  They keep the "spread" as profit.

Where did Josh promise that? What was the exact wording?

https://hashtalk.org/topic/26168/paybase-version-1-paycoin-stability

"As the purchase of XPY starts to flow through Paybase, it will stabilize the market. I know it does not sound exciting, but it’s the more important process to make all this work.

The more confident people are in XPY, the more they will use it.

The back-end engine is what we have spent the most time developing. It leverages all our buying power, then moves between exchanges to help level the price. Essentially, it works like an exchange, but with the function of creating market stability."

Notice how vague that is. It reminds me of this:  
http://media.coindesk.com/2015/01/Hash-Talk-4.png

But what it *doesn't* say is that when you buy on paybase, they buy the same number of shares off of an exchange. It doesn't say that at all.

Also... here:

https://hashtalk.org/topic/26626/paybase-beta-is-here

"Paybase is now integrated into many exchanges (that's the feature we spent most of our time building) and its programmed to monitor the price and depth of the order books on those markets. We have programmed Paybase to leverage those open markets first, so it will grab orders faster than any human can - maintaining the target price and refilling the coffers so we can serve our customer’s needs to buy and use Paycoin."

Again that doesn't *at all* promise that what people buy with CC on paybase becomes buys on external markets. Not at all.

Second, like the first that just seems to be saying "we have some arbitrage bots." And I wouldn't take their word for "spent most of our time building" either. Not that they seem to have put much time into any development for paybase/paycoin.

Third, it makes little sense. They don't need to "refill the coffers" to serve customer's needs. It was over 96% premined. They have more coins (at zero cost) than they could ever use.  And there's ZERO evidence that they're buying to "maintain the target price" for any target at all.

So I still haven't seen any promise from Josh that a CC buy on paybase flows through to paybase buying on exchanges. The TOS explicitly say they are not promising you that, and you're buying directly from paybase. And it makes no financial sense, from GAW's perspective, to do it.

Selling the premine coins on paybase via CC takes buying pressure off of the exchanges, and increases the effective supply, but it maximizes GAWs profits.


EDIT: And just to drive the point about the Terms Of Use home, it explicitly says (https://paybase.com/terms-of-use):

3.2 Entire Agreement of Purchase. THIS AGREEMENT, AND THE DOCUMENTS REFERENCED HEREIN, SET FORTH THE ENTIRE UNDERSTANDING BETWEEN YOU AND PAYBASE WITH RESPECT TO THE PURCHASE OF PAYCOINS.

and

7.7 Entire Agreement. This Agreement sets forth the entire understanding and agreement between you and Paybase as to the subject matter hereof, and supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between and among you and Paybase.

So even if Josh did promise elsewhere that those purchases would flow through to other exchanges (which I haven't seen), when you buy via paybase you're agreeing that the agreement is all that matters, and it says the opposite.

[suchmoon]

Item location:
Elkridge, Maryland, United States

Probably not. GAW's stuff should be coming from Hattiesburg, MS.

Do you actually trust buying an S3 from gaw at his point? lol, not a bad deal if they actually ship as expected.....

They may generate a shipping label tomorrow and may ship it by the end of next week. Good luck with customer support, warranty, or returns. So it's a risk, but as long as you pay via CC it could be an ok deal.

[Mr Felt]

Item location:
Elkridge, Maryland, United States

Probably not. GAW's stuff should be coming from Hattiesburg, MS.

Do you actually trust buying an S3 from gaw at his point? lol, not a bad deal if they actually ship as expected.....

They may generate a shipping label tomorrow and may ship it by the end of next week. Good luck with customer support, warranty, or returns. So it's a risk, but as long as you pay via CC it could be an ok deal.

Those types of products (physical miners) are great for cc sales - good way to cover paycoin sales.

[demonz]

Unrelated to the topic at hand.. but I thought this quote might foreshadow our beloved GAW_CEO since a lot of cloud mining companies are going belly up.

So, what's a good exchange to trade on nowdays?

What an asshat to be gloating after the fact he took a bunch of BTC from everyone.  I guess GAW_CEO's post would probably have *grinning* at the end though.  

[MinermanNC]

Item location:
Elkridge, Maryland, United States

Probably not. GAW's stuff should be coming from Hattiesburg, MS.

Do you actually trust buying an S3 from gaw at his point? lol, not a bad deal if they actually ship as expected.....

They may generate a shipping label tomorrow and may ship it by the end of next week. Good luck with customer support, warranty, or returns. So it's a risk, but as long as you pay via CC it could be an ok deal.

ok, I appreciate the advise and opinions  like I said not a bad deal and looking to add miners.
THX

[vancefox]

@redacted answered my question on premine sales on HT

"You can tell they are NOT the premine, since those coins sit in prime controllers, and those prime controller addresses are are known and shown on the richlist. Believe me, there would be lots out outcry if any of the coins in prime controllers started moving out of thier wallet addresses and showing up for sale on exchanges."

well then where are the 1000S of coins sold on paybase coming from???

one guy alone posted a buy from paybase of about 488,000 xpy

This again should be trivially simple. There has to be a true believer somewhere who bought a coin on paybase. Follow that coin back to where it was created. This coin isn't very old, it shouldn't be too hard.

Not a true believer, just testing the CC to see who the processor was.

If you want to spend some time tracing it, here are two purchases I made:

TXN: 5c3c2efa1cd2abb0e384ed5ce15ef041903d992fe94d13531186f6185f93dfaf
Address: PVGy8a4Ai2jUFVnWg4sowxzKNM2LdpCwmr
Amt: 25.698324 XPY


TXN: a80127b3756b88c4f9e3fb594fd99d7f0c3f7d8598b3e42a2e2bf43404c4cb18
Address: PVGy8a4Ai2jUFVnWg4sowxzKNM2LdpCwmr
Amt: 27.090858 XPY

Important note, the second purchase I just made now. What was different from the first:

1) I was asked to confirm my address (which was prefilled)
2) I was asked to confirm my credit card (including CCV) was was all prefilled
3) I was asked to type in my phone number. I INTENTIALLY put in a bogus phone number
4) The transaction was processed (again with a 10% fee), but the XPY was deposited immediately to my account (no hour wait this time).
5) The charge on my CC appears as the same "ONLINE SAN FRANSCISCO", which I believe is Stripe (so looks like CoinFire might be correct, that they just changed the merchant account, but continue to use Stripe for purchases).

Went ahead and just did a transaction excavation on: TXN: a80127b3756b88c4f9e3fb594fd99d7f0c3f7d8598b3e42a2e2bf43404c4cb18


Starting from the premine block:
https://chainz.cryptoid.info/xpy/tx.dws?1.htm

To the premine block movements out to a 1,750,000 block:
https://chainz.cryptoid.info/xpy/tx.dws?167.htm
https://chainz.cryptoid.info/xpy/tx.dws?186.htm
https://chainz.cryptoid.info/xpy/tx.dws?190.htm
https://chainz.cryptoid.info/xpy/tx.dws?194.htm
https://chainz.cryptoid.info/xpy/tx.dws?9616.htm

From that 1,750,000 premine dispersal to a 50,000 block:
https://chainz.cryptoid.info/xpy/tx.dws?83905.htm
https://chainz.cryptoid.info/xpy/tx.dws?139249.htm

From that 50,000 block through more dispersal to an almost 25,000 block:
https://chainz.cryptoid.info/xpy/tx.dws?139351.htm
ttps://chainz.cryptoid.info/xpy/tx.dws?139867.htm
https://chainz.cryptoid.info/xpy/tx.dws?141151.htm
https://chainz.cryptoid.info/xpy/tx.dws?141698.htm
https://chainz.cryptoid.info/xpy/tx.dws?141698.htm

From that ~25,000 block through yet more dispersal to two approx equal blocks just over 12,000:
https://chainz.cryptoid.info/xpy/tx.dws?141732.htm
https://chainz.cryptoid.info/xpy/tx.dws?141761.htm
https://chainz.cryptoid.info/xpy/tx.dws?141767.htm
https://chainz.cryptoid.info/xpy/tx.dws?141796.htm
https://chainz.cryptoid.info/xpy/tx.dws?141858.htm
https://chainz.cryptoid.info/xpy/tx.dws?141932.htm
https://chainz.cryptoid.info/xpy/tx.dws?142048.htm
https://chainz.cryptoid.info/xpy/tx.dws?142177.htm
https://chainz.cryptoid.info/xpy/tx.dws?142362.htm
https://chainz.cryptoid.info/xpy/tx.dws?142787.htm
https://chainz.cryptoid.info/xpy/tx.dws?143015.htm
https://chainz.cryptoid.info/xpy/tx.dws?143187.htm
https://chainz.cryptoid.info/xpy/tx.dws?143275.htm
https://chainz.cryptoid.info/xpy/tx.dws?143377.htm
https://chainz.cryptoid.info/xpy/tx.dws?144745.htm

From one of those ~12,000 blocks to two approx equal blocks just over 6,000:
https://chainz.cryptoid.info/xpy/tx.dws?146064.htm

From one of those ~6,000 blocks to two approx equal blocks just over 3,000:
https://chainz.cryptoid.info/xpy/tx.dws?147619.htm

From one of those ~3,000 blocks through even more dispersal to two approx equal blocks just under 1,500:
https://chainz.cryptoid.info/xpy/tx.dws?148159.htm GAW sending coins to Bittrex?
https://chainz.cryptoid.info/xpy/tx.dws?149033.htm Bittrex again?
https://chainz.cryptoid.info/xpy/tx.dws?151682.htm

From one of those ~1,500 blocks to two approx equal blocks of around 740:
https://chainz.cryptoid.info/xpy/tx.dws?155845.htm

From one of those ~740 blocks to two approx equal blocks of around 370:
https://chainz.cryptoid.info/xpy/tx.dws?160085.htm

From one of those ~370 blocks to two approx equal blocks of 185:
https://chainz.cryptoid.info/xpy/tx.dws?164542.htm

From one of those ~185 blocks to your transaction:
https://chainz.cryptoid.info/xpy/tx.dws?a80127b3756b88c4f9e3fb594fd99d7f0c3f7d8598b3e42a2e2bf43404c4cb18.htm

And... that's how we prove they're using pre-mined coins to fulfill their PayBase orders...

The blockchain never lies.

[Paul Revere]

$169 for an S3 with PSU is a pretty good deal, but if you are thinking about more than 1 it would make much better sense to get an S5. I have an S5 on the way to replace two S1s and in the next couple months will likely replace my S3s as well.

[jackbox]

$169 for an S3 with PSU is a pretty good deal, but if you are thinking about more than 1 it would make much better sense to get an S5. I have an S5 on the way to replace two S1s and in the next couple months will likely replace my S3s as well.

Where does it say a PSU is included? If you are referring to ebay sale it is $169 for s3+ only. Does not mention any psu being included. And it is $43 shipping.

[suchmoon]

And... that's how we prove they're using pre-mined coins to fulfill their PayBase orders...

The blockchain never lies.

So basically you're saying those coins never visited any exchange? Could it be possible that one of those 740 or 370 addresses was an exchange deposit address? I know it's unlikely because it looks to be a fairly neat halving pattern, so it would be an extremely odd coincidence that e.g. a Hashpoint customer moved 740 coins to an exchange then GAW purchased 370 coins and the exchange just happened to send them out from the same deposit wallet. Am I thinking about this right?

[suchmoon]

$169 for an S3 with PSU is a pretty good deal, but if you are thinking about more than 1 it would make much better sense to get an S5. I have an S5 on the way to replace two S1s and in the next couple months will likely replace my S3s as well.

Where does it say a PSU is included? If you are referring to ebay sale it is $169 for s3+ only. Does not mention any psu being included. And it is $43 shipping.

http://www.gawminers.com/collections/all-miners/products/441-gh-s-antminer-s3-by-bitmain-tech-shipped-same-day

[jackbox]

$169 for an S3 with PSU is a pretty good deal, but if you are thinking about more than 1 it would make much better sense to get an S5. I have an S5 on the way to replace two S1s and in the next couple months will likely replace my S3s as well.

Where does it say a PSU is included? If you are referring to ebay sale it is $169 for s3+ only. Does not mention any psu being included. And it is $43 shipping.

http://www.gawminers.com/collections/all-miners/products/441-gh-s-antminer-s3-by-bitmain-tech-shipped-same-day

Oh ok. There is an ebay sale for the same thing at the same price but no psu included and high shipping. And in the same general area as GAW also.