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

[WaffleMaster]

I can't imagine Josh would show his face in Miami at this point.  He will say he needs to stay home and "man the paycoin ship" and his blind followers will compliment him on his dedication and commitment.

<upvote> for predicting the future

[bmgbmg]

Not a snowball chance in hell they got $9M, if they did they would be long gone.  They wouldn't be sticking around trying to pump this thing.  They probably got a few hundred thousand.  Like any ponzi scheme they have to keep pumping it, keep the current bagholders happy and do whatever they can to keep the price up.  The reason is to sell the premine at any price, shit, they were free. 

These coins are not worth $20, $2, 20 cents, or 2 cents.

They're worth fuck all (absolutely nothing at all, the most extreme degree of nothing).

Wow it's still selling off, it's bloodshed

According to one poster on HT when I raised the pre-mining issue there, the coins were purchased in the ICO for $2 each.  That is .0072 BTC per XPY at current rates.

When the price drops even close the that level, look out.  I would expect most investors to dump very quickly when it hits that level.  And there are (according to Josh, if you believe him) 40% x 12,000,000 = 4,800,000 XPY held by those investors who paid in $2 each.  Right now, with prices hovering around .01 BTC, these investors can afford to wait it out.  As soon as the .01 level starts to get tested, watch out below.  These investors, many of whom I am betting are wall street buds of Stuart, are going to dump fast to avoid a loss.

I'm more of an opinion that the "investors" are largely fiction. Even if Fraser is involved, it would be perhaps some old investment in hardware sales early on, I just can't believe any financially literate investor putting any serious money into this "project".

[WaffleMaster]

Hey guys I just bought Bitcoin instantly on Coinbase and used it to pay for something online in less than a minute. Wow, wish Paycoin2 was working I probably could have done that faster and had more merchants to choose from with less fees /s

[bmgbmg]

Me too, $1000 per week on coinbase I can buy Bitcoin w/cc (eventually gets taken out of bank account, the cc just authorizes it).  But, even coinbase really doesn't take credit cards since they know the chargebacks.
 

Hey guys I just bought Bitcoin instantly on Coinbase and used it to pay for something online in less than a minute. Wow, wish Paycoin2 was working I probably could have done that faster and had more merchants to choose from with less fees /s

[doogsan]

The reason these guys like Josh's response re the debate is because they can't understand it. Priceless.

https://hashtalk.org/topic/28616/response-to-andrew-re-debate/20

[bananafana]

Wow it's still selling off, it's bloodshed

According to one poster on HT when I raised the pre-mining issue there, the coins were purchased in the ICO for $2 each.  That is .0072 BTC per XPY at current rates.

When the price drops even close the that level, look out.  I would expect most investors to dump very quickly when it hits that level.  And there are (according to Josh, if you believe him) 40% x 12,000,000 = 4,800,000 XPY held by those investors who paid in $2 each.  Right now, with prices hovering around .01 BTC, these investors can afford to wait it out.  As soon as the .01 level starts to get tested, watch out below.  These investors, many of whom I am betting are wall street buds of Stuart, are going to dump fast to avoid a loss.

It just now occurs to me that the 4.8 million XPY are the same ones described as "$100 million in coins" ... but if they paid $2 that would be slightly less than ten million. I'll bet the claim of $100 million was a bit of slippery wording, i.e., it was "100 million [worth of] coins" if you assume a $20 floor. All indications are that they didn't get much at all in cash from investors. A few hundred thousand sounds plausible.

The investor coins are supposed to be in escrow anyway, so they wouldn't be dumpable. But that doesn't matter. If there were any serious investors putting a million or more into it, which I doubt, can you imagine them sitting by while Josh's promises crumbled one after another? Lawyers would have gotten them disentangled long before this point. Although basic due diligence -- because at that level you can ask for verification of the alleged partnerships and everything else, rather than trusting Josh about it -- would have kept them from getting involved in the first place.

[Phildo]

Wow it's still selling off, it's bloodshed

According to one poster on HT when I raised the pre-mining issue there, the coins were purchased in the ICO for $2 each.  That is .0072 BTC per XPY at current rates.

When the price drops even close the that level, look out.  I would expect most investors to dump very quickly when it hits that level.  And there are (according to Josh, if you believe him) 40% x 12,000,000 = 4,800,000 XPY held by those investors who paid in $2 each.  Right now, with prices hovering around .01 BTC, these investors can afford to wait it out.  As soon as the .01 level starts to get tested, watch out below.  These investors, many of whom I am betting are wall street buds of Stuart, are going to dump fast to avoid a loss.

It just now occurs to me that the 4.8 million XPY are the same ones described as "$100 million in coins" ... but if they paid $2 that would be slightly less than ten million. I'll bet the claim of $100 million was a bit of slippery wording, i.e., it was "100 million [worth of] coins" if you assume a $20 floor. All indications are that they didn't get much at all in cash from investors. A few hundred thousand sounds plausible.

The investor coins are supposed to be in escrow anyway, so they wouldn't be dumpable. But that doesn't matter. If there were any serious investors putting a million or more into it, which I doubt, can you imagine them sitting by while Josh's promises crumbled one after another? Lawyers would have gotten them disentangled long before this point. Although basic due diligence -- because at that level you can ask for verification of the alleged partnerships and everything else, rather than trusting Josh about it -- would have kept them from getting involved in the first place.

There still has never been any attempt at an explanation at how that 2 per coin was going to turn into 20 (especially when there were going to be coins mined outside of those "sold" in the ico and from "mining" hashpoints. This whole thing never made sense, not sure why people ever had faith, never mind after weeks of paybase being a 0.

[Paul Revere]

https://hashtalk.org/topic/28648/why-cant-we-still-use-xpy-on-the-hash-market-gawminers-com-and-hashgear/36



They are lining up to "do their duty" and throw BTC at XPY and are relentlessly mowed down by the endless supply of pre-mine. At this point I no longer feel sorry for these effing idiots.

[jibble]

Wow it's still selling off, it's bloodshed

According to one poster on HT when I raised the pre-mining issue there, the coins were purchased in the ICO for $2 each.  That is .0072 BTC per XPY at current rates.

When the price drops even close the that level, look out.  I would expect most investors to dump very quickly when it hits that level.  And there are (according to Josh, if you believe him) 40% x 12,000,000 = 4,800,000 XPY held by those investors who paid in $2 each.  Right now, with prices hovering around .01 BTC, these investors can afford to wait it out.  As soon as the .01 level starts to get tested, watch out below.  These investors, many of whom I am betting are wall street buds of Stuart, are going to dump fast to avoid a loss.

It just now occurs to me that the 4.8 million XPY are the same ones described as "$100 million in coins" ... but if they paid $2 that would be slightly less than ten million. I'll bet the claim of $100 million was a bit of slippery wording, i.e., it was "100 million [worth of] coins" if you assume a $20 floor. All indications are that they didn't get much at all in cash from investors. A few hundred thousand sounds plausible.

The investor coins are supposed to be in escrow anyway, so they wouldn't be dumpable. But that doesn't matter. If there were any serious investors putting a million or more into it, which I doubt, can you imagine them sitting by while Josh's promises crumbled one after another? Lawyers would have gotten them disentangled long before this point. Although basic due diligence -- because at that level you can ask for verification of the alleged partnerships and everything else, rather than trusting Josh about it -- would have kept them from getting involved in the first place.

There still has never been any attempt at an explanation at how that 2 per coin was going to turn into 20 (especially when there were going to be coins mined outside of those "sold" in the ico and from "mining" hashpoints. This whole thing never made sense, not sure why people ever had faith, never mind after weeks of paybase being a 0.

There was, they would use their magical dollars they claim to have and forcibly push the price up with huge purchasing power.

There are millions of coins tied up in hashstakers and other things they invented to create frozen assets that are not on the market all at once, you buy into the market with more money than there are coins lose running around the markets.

this is basically what was attempted to be done, he claimed he had math guys figure all this out and it was "all good" but i think when he was talking about these guys, he was referring to a 30 minute chat he had with a squirrel.

These is no complex math, there is no theory, it's "throw enough money at it and it will happen" which they didn't have enough money, so these math guys can't even figure out simple fucking math

[KC6TTR]

Here you go guys


https://litecointalk.org/index.php?topic=24169.msg243127#msg243127

Excellent. 

Scott-

[vabchgent]

Boy talk about dive there doing 20,000 Leagues under the sea right now.

[coinGeek]

Is this evidence that GAW was really mining, at one time, at least a little? Maybe?

https://www.gawminers.com/collections/on-sale?utm_source=Newsletter+List&utm_campaign=23e62a4d3e-final-miner-sale&utm_medium=email&utm_term=0_ec90950adf-23e62a4d3e-133533681&mc_cid=23e62a4d3e&mc_eid=bcf51c1b09

(used miners from an email you probably just got too)

[Unacceptable]

The worse part of this whole argument is that we have now probably taken the whole Crypto acceptance back 12 months, at the moment anyone looking to get into Crypto would only read about shonky sites, scams and drug sales.

So you're saying this "argument" shouldn't of been and the community should just of stayed quite?  I think that's how the US ended up with the Federal Reserve...

[suchmoon]

I say lets wait until the 16th for BTC Miami and see what Josh has to say, if Josh dancers around the issues of investors ect then the Crypto community will have it's say and Josh will have a failed business.
Just going by the trade levels now I think that Pay Coin has probably found its real price for now at the $4.00 mark. It may decline over the next few weeks just like LTC is.

The worse part of this whole argument is that we have now probably taken the whole Crypto acceptance back 12 months, at the moment anyone looking to get into Crypto would only read about shonky sites, scams and drug sales.

When I first started in Crypto the whole thing was about the technology and how this could change the way we transmit wealth now I am not sure. I do not see any Crypto becoming main stream because of all forums.

It used to be about hope and a new technology now it is about scams, we may even see 2015 as the year Crypto currency died, and it will be mentioned in the history books as a fad.

Bubba, make up your mind damn it....

http://webcache.googleusercontent.com/search?q=cache:uYXP5kd5r1cJ:https://hashtalk.org/topic/28634/why-pay-coin-and-pay-base-has-disappointed+&cd=2&hl=en&ct=clnk&gl=us

bubbamark
Why Pay Coin and Pay Base has disappointed
This thread will probably see me going back into the wilderness, however it needs to be said.
I had every hope that Pay Coin would be a successful coin, I have always stated that Pay Base was the engine that would run it.
However the GAW team got this completely wrong and released what is effectively a wallet and a BTC exchange.
If you want to promise a payment platform then you need to deliver it.
I have been a customer of GAW for a while. And yes they have mostly made things right, however to launch the next big thing in crypto without any features was stupid.
We were told about optimum prime 6 months ago, so either GAW has piss poor developers or someway lost their way.
All I know is at today's prices of XPY I wish someone did take Josh's bet of 100 BTC stating that he had the most profitable miner. I am sure Hashnest could of beat this.
So if this is good bye due to an over zealous mod or the big man him self, I am glad to have these last 2 days with you.

[suchmoon]

Is this evidence that GAW was really mining, at one time, at least a little? Maybe?

https://www.gawminers.com/collections/on-sale?utm_source=Newsletter+List&utm_campaign=23e62a4d3e-final-miner-sale&utm_medium=email&utm_term=0_ec90950adf-23e62a4d3e-133533681&mc_cid=23e62a4d3e&mc_eid=bcf51c1b09

(used miners from an email you probably just got too)

Oh yeah... my guess is that we (hashlet buyers) paid for those Ants back in October and now we have the privilege to buy them again. Isn't "cloud mining" wonderful.

[ZiG]

Is this evidence that GAW was really mining, at one time, at least a little? Maybe?

https://www.gawminers.com/collections/on-sale?utm_source=Newsletter+List&utm_campaign=23e62a4d3e-final-miner-sale&utm_medium=email&utm_term=0_ec90950adf-23e62a4d3e-133533681&mc_cid=23e62a4d3e&mc_eid=bcf51c1b09

(used miners from an email you probably just got too)

Oh yeah... my guess is that we (hashlet buyers) paid for those Ants back in October and now we have the privilege to buy them again. Isn't "cloud mining" wonderful.

October ...

Way earlier...more like in the summer...

ZiG

[bananafana]

Wow it's still selling off, it's bloodshed

According to one poster on HT when I raised the pre-mining issue there, the coins were purchased in the ICO for $2 each.  That is .0072 BTC per XPY at current rates.

When the price drops even close the that level, look out.  I would expect most investors to dump very quickly when it hits that level.  And there are (according to Josh, if you believe him) 40% x 12,000,000 = 4,800,000 XPY held by those investors who paid in $2 each.  Right now, with prices hovering around .01 BTC, these investors can afford to wait it out.  As soon as the .01 level starts to get tested, watch out below.  These investors, many of whom I am betting are wall street buds of Stuart, are going to dump fast to avoid a loss.

It just now occurs to me that the 4.8 million XPY are the same ones described as "$100 million in coins" ... but if they paid $2 that would be slightly less than ten million. I'll bet the claim of $100 million was a bit of slippery wording, i.e., it was "100 million [worth of] coins" if you assume a $20 floor. All indications are that they didn't get much at all in cash from investors. A few hundred thousand sounds plausible.

The investor coins are supposed to be in escrow anyway, so they wouldn't be dumpable. But that doesn't matter. If there were any serious investors putting a million or more into it, which I doubt, can you imagine them sitting by while Josh's promises crumbled one after another? Lawyers would have gotten them disentangled long before this point. Although basic due diligence -- because at that level you can ask for verification of the alleged partnerships and everything else, rather than trusting Josh about it -- would have kept them from getting involved in the first place.

There still has never been any attempt at an explanation at how that 2 per coin was going to turn into 20 (especially when there were going to be coins mined outside of those "sold" in the ico and from "mining" hashpoints. This whole thing never made sense, not sure why people ever had faith, never mind after weeks of paybase being a 0.

I've seen a lot of HT'ers assert that GAW had a hundred million in investments to back the coin. They believe Josh said it. But the closest claim I can find from Josh is that they would escrow "100 million in coins," which could be weasel-wording to claim only that that many coins would be worth that much at $20 each.  Has he ever directly claimed that they got $100 million cash from investors, or is this just HT lore?

I found one person over there on HT who did the math, and realized that the claimed reserves and the number of coins for investors didn't make any sense at all. That was a month ago. Nobody else in the thread seemed bothered by that.

One suggested that although GAW did in fact "guarantee a floor of 20$" they wouldn't need to spend cash to support the floor: "I think it will happen the opposite, that if necessary GAW will have to hold the price by selling their coins."
https://hashtalk.org/topic/20626/pyc-to-skyrocket-but-gaw-will-stop-it

To this exuberant analysis @gawceo replied: "Wow, well done."

[maildir]

http://blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/

When the coin opens to the public on Jan. 2 with what Mr. Garza says will be an anticipated market capitalization of $250 million, the company will partly back that with a store of fiat currency worth around $100 million.

[bmgbmg]

The turd is still getting flushed check out Cryptsy, will break .01 tonight

[dave01]

i think it will get allot more interesting after the conference