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

[torelle]

I have updated the OP. It took me two or three weeks to catch up with the events since I started working on it  

https://bitcointalk.org/index.php?topic=857670

I tried to outline the "evolution" of GAW as a business without going too much into details so that hopefully someone could actually read the post and then perhaps dig deeper of they're interested. Speaking of which, the second post of this thread will eventually contain links to all the major promises and failures and achievements and everything else that is linkable. Just started working on it, might take more than a few weeks at the rate this is going.

Any comments are welcome, here or via PM. Thanks to all who contributed with posts, screenshots, archive links, etc etc. I'm sorry I'm not going to start mentioning names for fear of leaving somebody out, but you know who you are .

That is such a cumbersome task, and Josh just keeps feeding it. Much respect to you for compiling it. Too much info scattered across almost 900 pages here and other sites.

[Paul Revere]

Well I can't complain as GAW keeps delivering me a profit who would of thought that you could buy paycoin for 1 cent then send it to cryptsy and sell it for $2 a 200% profit. Lucky me I suppose, first I get the $20 pay base price on day 1 and then I get the 1 cent price. I have never had so much fun. Just a shame the XPY hot wallet run out before I could get all of mt XPY out. Oh well have to be happy with a 4 BTC profit in 30 minutes.
I just wonder when they may unlock my account.

Your math is every bit as believable as your total bullshit bragger stories about making money from GAW.

[jibble]

Well I can't complain as GAW keeps delivering me a profit who would of thought that you could buy paycoin for 1 cent then send it to cryptsy and sell it for $2 a 200% profit. Lucky me I suppose, first I get the $20 pay base price on day 1 and then I get the 1 cent price. I have never had so much fun. Just a shame the XPY hot wallet run out before I could get all of mt XPY out. Oh well have to be happy with a 4 BTC profit in 30 minutes.
I just wonder when they may unlock my account.

20,000% profit *

[bitcoinnoisseur]

Well I can't complain as GAW keeps delivering me a profit who would of thought that you could buy paycoin for 1 cent then send it to cryptsy and sell it for $2 a 200% profit. Lucky me I suppose, first I get the $20 pay base price on day 1 and then I get the 1 cent price. I have never had so much fun. Just a shame the XPY hot wallet run out before I could get all of mt XPY out. Oh well have to be happy with a 4 BTC profit in 30 minutes.
I just wonder when they may unlock my account.

That's a 20,000% increase you dumb dunce. Now go back to where you came from and get to work on that GED.

100 xpy @ $.01 = $1
100 xpy @ $2 = $200

200/1 x 100 = 20,000% increase

$200 - $1 = $199

199 x 100 = 19,900% profit

[BlindMayorBitcorn]

@ Bitpop You'll be proud of me as I'm back to hodling all my BTC. Lol. I have them in a vault on Coinbase where only I have the private key.

Good boy hodl for life
Don't mine, don't shitcoin, no counter party risk

off-topic, yes, but I too have entered the final stage of Bitcoin:

The five stages of bitcoin:

1. Mining (denial)
2. Gambling / Day Trading (anger)
3. Arbitrage (bargaining)
4. Altcoins (depression)
5. Hodling (acceptance)

(Though not necessarily in that exact order)!  

Isn't it wonderful

[torelle]

Can someone help me out on this?

I keep seeing HT Gawites refer to Paybase having FinCEN/MSB approval to operate in 50 states... it this true?

I thought i read somewhere that they APPLIED for it, but applying for it does not mean you have it.

I just can't believe that they were audited checked etc etc and were given the pass for license.

Can somebody clear this up?

If they do not actually have MSB license then that is a massive delusion most GAWites have....

[suchmoon]

Well I can't complain as GAW keeps delivering me a profit who would of thought that you could buy paycoin for 1 cent then send it to cryptsy and sell it for $2 a 200% profit. Lucky me I suppose, first I get the $20 pay base price on day 1 and then I get the 1 cent price. I have never had so much fun. Just a shame the XPY hot wallet run out before I could get all of mt XPY out. Oh well have to be happy with a 4 BTC profit in 30 minutes.
I just wonder when they may unlock my account.

Are you fucking kidding me  

I see you already got your math lesson but how about this:

https://bitcointalk.org/index.php?topic=857670.msg10111983#msg10111983

I will not be posting here or on hash talk as all the negativity has shown me that the crypto community will keep fighting each other and keep calling all new coins or innovation a scam.

Please for your own sake go back to HT or to gethigh or whatever that new place is.

[suchmoon]

Can someone help me out on this?

I keep seeing HT Gawites refer to Paybase having FinCEN/MSB approval to operate in 50 states... it this true?

I thought i read somewhere that they APPLIED for it, but applying for it does not mean you have it.

I just can't believe that they were audited checked etc etc and were given the pass for license.

Can somebody clear this up?

If they do not actually have MSB license then that is a massive delusion most GAWites have....

They have applied for an MSB registration number with FinCEN (a federal agency). My understanding is that becoming an MSB is a fairly serious process in each state, but hopefully someone else can explain how it actually works.

[owlcatz]

Can someone help me out on this?

I keep seeing HT Gawites refer to Paybase having FinCEN/MSB approval to operate in 50 states... it this true?

I thought i read somewhere that they APPLIED for it, but applying for it does not mean you have it.

I just can't believe that they were audited checked etc etc and were given the pass for license.

Can somebody clear this up?

If they do not actually have MSB license then that is a massive delusion most GAWites have....

They have applied for an MSB registration number with FinCEN (a federal agency). My understanding is that becoming an MSB is a fairly serious process in each state, but hopefully someone else can explain how it actually works.

All of that is located here - i think the last time I looked them up they were registered in Maryland (MD), USA but i'm too tired atm sorry

http://www.fincen.gov/financial_institutions/msb/msbstateselector.html

[torelle]

Can someone help me out on this?

I keep seeing HT Gawites refer to Paybase having FinCEN/MSB approval to operate in 50 states... it this true?

I thought i read somewhere that they APPLIED for it, but applying for it does not mean you have it.

I just can't believe that they were audited checked etc etc and were given the pass for license.

Can somebody clear this up?

If they do not actually have MSB license then that is a massive delusion most GAWites have....

They have applied for an MSB registration number with FinCEN (a federal agency). My understanding is that becoming an MSB is a fairly serious process in each state, but hopefully someone else can explain how it actually works.

All of that is located here - i think the last time I looked them up they were registered in Maryland (MD), USA but i'm too tired atm sorry

http://www.fincen.gov/financial_institutions/msb/msbstateselector.html

I have tried to input all the names of their companies they own and come up with nothing in that database.

Also all google searching for it never comes up with a FinCEN or MSB number on any of the GAW or Paybase sites, only posts that allude to "getting" "will have" a MSB license.
PLus all posts in HT referring to them having license in 50 states is NEVER corrected by GAWCEO.

Places like Cryptsy and Paypal etc display this license proudly.

The same as whenever people referring to GAWCEO stating that he WILL hold the floor at $20 when Paycoin came out, GAWCEO never corrected them, even though he now says that they "misinterpreted" his words. It's a non-ending strategy of saying something, letting people misinterpret it (to GAW's gain) and GAW not correcting misinterpretations. Anything that they misinterpret to GAW's loss is immediately corrected.

[KC6TTR]

Well I can't complain as GAW keeps delivering me a profit who would of thought that you could buy paycoin for 1 cent then send it to cryptsy and sell it for $2 a 200% profit. Lucky me I suppose, first I get the $20 pay base price on day 1 and then I get the 1 cent price. I have never had so much fun. Just a shame the XPY hot wallet run out before I could get all of mt XPY out. Oh well have to be happy with a 4 BTC profit in 30 minutes.
I just wonder when they may unlock my account.

This is where I call "BS". No one was able to grab @ $0.01/XPY. The lowest successful buys were at $0.10/XPY and those have been reportedly reversed. Likewise, no one has seen $0.000001 of that "promised" $20 buy-back. Nice try.

Scott-

[jimmothy]

All of that is located here - i think the last time I looked them up they were registered in Maryland (MD), USA but i'm too tired atm sorry

http://www.fincen.gov/financial_institutions/msb/msbstateselector.html

Registered =/= licensed.

http://www.nmta.us/state-by-state-regulation

I can't find a single state where paybase is actually licensed.

Here are the states I've checked:

Alaska = not licensed
California = not licensed
Colorado = not licensed
Connecticut = not licensed
Deleware = not licensed
Florida = not licensed
Georgia = not licensed
Hawaii = not licensed
Idaho = not licensed
Indiana = not licensed
Iowa = not licensed
Kansas = not licensed
Louisiana = not licensed
Maine = not licensed
Maryland = not licensed
Massachusetts = not licensed
New Hampshire = not licensed
New Jersey = not licensed
New York = not licensed
North Carolina = not licensed
Oklahoma = not licensed
Oregon = not licensed
Puerto Rico = not licensed
Rhode Island = not licensed
South Dakota = not licensed
Tennessee = not licensed
Texas = not licensed
Utah = not licensed
Virginia = not licensed
Washington = not licensed
Wisconson = not licensed

[KC6TTR]

Can someone help me out on this?

I keep seeing HT Gawites refer to Paybase having FinCEN/MSB approval to operate in 50 states... it this true?

I thought i read somewhere that they APPLIED for it, but applying for it does not mean you have it.

I just can't believe that they were audited checked etc etc and were given the pass for license.

Can somebody clear this up?

If they do not actually have MSB license then that is a massive delusion most GAWites have....

Simple: They have neither.

All that has been uncovered are generic applications, which would at the most establish their 180 days grace period to obtain formal licensing, which I doubt they have the resources to obtain in every [any] state they do business in at this point.

Scott-

EDIT: Good resource for review: http://www.msbcomplianceinc.com/requirements-of-msbs

Under "State Registration"
Most state governments require registration or licensing of firms providing check cashing, check sales or money transmittal; such requirements are in addition to those under Federal law.

It is important for each MSB to ensure that it obtains and maintains appropriate state registration(s) and licensing in addition to registration with FinCEN as an MSB. Banks are required to confirm that their MSB customers have obtained necessary state licenses as part of managing their BSA risk. State law often contains specific requirements outside the scope of the Bank Secrecy Act such as record keeping, pricing and marketing constraints. A best practice is for the Independent Review for BSA compliance to also review and confirm compliance with state requirements for the MSB’s financial services.

[jimlite]

Well I can't complain as GAW keeps delivering me a profit who would of thought that you could buy paycoin for 1 cent then send it to cryptsy and sell it for $2 a 200% profit. Lucky me I suppose, first I get the $20 pay base price on day 1 and then I get the 1 cent price. I have never had so much fun. Just a shame the XPY hot wallet run out before I could get all of mt XPY out. Oh well have to be happy with a 4 BTC profit in 30 minutes.
I just wonder when they may unlock my account.

This is where I call "BS". No one was able to grab @ $0.01/XPY. The lowest successful buys were at $0.10/XPY and those have been reportedly reversed. Likewise, no one has seen $0.000001 of that "promised" $20 buy-back. Nice try.

Scott-

It's not BS. I know of people that during the crash created by payflash, they were able to buy XPY with the btc they had in paybase for about a decimal place less. Where XPY was normally 0.015 btc, it crashed on paybase to like 0.0015 btc (not a penny, but cheap). Some of those people then transferred the bought XPY to their wallets, cryptsy, or bittrex. So there is no way for GAW to reverse those trades. However if the xpy was not withdrawn before paybase went down, those trades were reversed and I also hear some people have negative btc account values, which is impossible since you can't short XPY or BTC on paybase. So looks like GAW programmers screwed up once again, need to zero out negative balances, clean things up and re-program payflash.

[torelle]

Can someone help me out on this?

I keep seeing HT Gawites refer to Paybase having FinCEN/MSB approval to operate in 50 states... it this true?

I thought i read somewhere that they APPLIED for it, but applying for it does not mean you have it.

I just can't believe that they were audited checked etc etc and were given the pass for license.

Can somebody clear this up?

If they do not actually have MSB license then that is a massive delusion most GAWites have....

Simple: They have neither.

All that has been uncovered are generic applications, which would at the most establish their 180 days grace period to obtain formal licensing, which I doubt they have the resources to obtain in every [any] state they do business in at this point.

Scott-

Wondering if someone who still has an account at HT would wanna bring that up again? lol The only reference to MSB license topic in HT that i found was old and the HT OP was banned for asking. It seems that since those who were asking have been banned, those that are left, are left with the assumption that Paybase has MSB license.

[KC6TTR]

Well I can't complain as GAW keeps delivering me a profit who would of thought that you could buy paycoin for 1 cent then send it to cryptsy and sell it for $2 a 200% profit. Lucky me I suppose, first I get the $20 pay base price on day 1 and then I get the 1 cent price. I have never had so much fun. Just a shame the XPY hot wallet run out before I could get all of mt XPY out. Oh well have to be happy with a 4 BTC profit in 30 minutes.
I just wonder when they may unlock my account.

This is where I call "BS". No one was able to grab @ $0.01/XPY. The lowest successful buys were at $0.10/XPY and those have been reportedly reversed. Likewise, no one has seen $0.000001 of that "promised" $20 buy-back. Nice try.

Scott-

It's not BS. I know of people that during the crash created by payflash, they were able to buy XPY with the btc they had in paybase for about a decimal place less. Where XPY was normally 0.015 btc, it crashed on paybase to like 0.0015 btc (not a penny, but cheap). Some of those people then transferred the bought XPY to their wallets, cryptsy, or bittrex. So there is no way for GAW to reverse those trades. However if the xpy was not withdrawn before paybase went down, those trades were reversed and I also hear some people have negative btc account values, which is impossible since you can't short XPY or BTC on paybase. So looks like GAW programmers screwed up once again, need to zero out negative balances, clean things up and re-program payflash.

I was calling that specific author's post BS.

Re: the XPY value
As I said, the lowest successful buys were at $0.10 (0.0005 BTC). At 0.0015 BTC, it was still $0.30 (30 cents/XPY). I am sure GAW has or will send out their typical "pay us back or we will have our legal counsel get you" like they did after their buy 1 hashlet code, get 25 actual hashlets debacle. Either way, just as GAW has no refunds, once a trade has been made, GAW has no legal recourse. Like it or not, the deal(s) are done. We're not playing with virtual miners anymore. Another reason why securities are regulated.

Scott-

[jfabritz]

I think I know why people cannot take their BTC out of Paybase.

It's probably because GAW is using the BTC funds to pay off the massive GYFT purchases before it crashed. They MUST have BTC to pay the gyft cards and they didn't have any.

So while people's BTC balance on Paybase show positive, the BTC is actually not there.

Josh probably couldn't make it to the Panel because right now, he has a masssive problem of paying off what is owed to gyft, and finding BTC to pay off his customers BTC on paybase.

If he doesn't get it done quickly somehow, there might be some jail time for him quicker than we thought.

I was able to get my 0.5BTC out of Paybase, but I had to enter 0.4999BTC since their POS software doesn't factor the transaction fee when you attempt to withdraw.

Now, maybe people with larger balances are having problems, but I was able to get my life savings out of there. 

[strangerdanger101]

I think I know why people cannot take their BTC out of Paybase.

It's probably because GAW is using the BTC funds to pay off the massive GYFT purchases before it crashed. They MUST have BTC to pay the gyft cards and they didn't have any.

So while people's BTC balance on Paybase show positive, the BTC is actually not there.

Josh probably couldn't make it to the Panel because right now, he has a masssive problem of paying off what is owed to gyft, and finding BTC to pay off his customers BTC on paybase.

If he doesn't get it done quickly somehow, there might be some jail time for him quicker than we thought.

I was able to get my 0.5BTC out of Paybase, but I had to enter 0.4999BTC since their POS software doesn't factor the transaction fee when you attempt to withdraw.

Now, maybe people with larger balances are having problems, but I was able to get my life savings out of there. 

Supposedly there are no fees... but we know better.  Its misleading for a new user signing up to that IMO.

[Paul Revere]

They are not Fees,silly, they're Notafees. This is what passes for truth in Kookoobullshitusworld™.

[MinermanNC]

I'd say this HT member has swallowed the bait, "hook, line and sinker"

QUOTE:
 
Ersus

@Smoking-Bacon said:


In other word they are working on the problem here on hand instead of being at the conference. What would lyou all want him to do, correct the issue so you can buy things or say forget it and go talk about things at the conference. Either you all want to use your coins or you dont.

+1

I'd much rather have our CEO working through the wee hours to correct a problem that affects his customers much more directly than participating on a panel about something that is dying, if not dead already.... PoW mining -- CEX.io, Hashie, LTCGear, ZeusHash.... what is there left to talk about?

Those of you masturbating all over yourselves because @GAWCEO did not (for whatever reason) show up at a talk about something that has absolutely NO future and think it means anything consequential need to, first, clean yourselves up and then get over yourselves.

Paycoin is predicated on the idea of "doing things differently." Everyone else is embroiled in a race toward a minimum. I defy you to explain how GAW, or its customers, would benefit from Josh having a pow-wow about a philosophy that he's left behind.

What a clown   wee hours of the morning, poor Josh.

EDIT: btw, btc rising and XPY falling.