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

[suchmoon]

So here is the dilemma. Many if no most of the purchases during the cheap XPY fiasco were made by Paycoin's greatest fans - ones who were keeping BTC in Paybase waiting for an opportunity. Will GAW reverse those transactions and alienate what's remaining of its loyal following? Or will GAW let them cash out and dump the coins? This should be interesting.

https://hashtalk.org/topic/29788

[ikeboy]

So here is the dilemma. Many if no most of the purchases during the cheap XPY fiasco were made by Paycoin's greatest fans - ones who were keeping BTC in Paybase waiting for an opportunity. Will GAW reverse those transactions and alienate what's remaining of its loyal following? Or will GAW let them cash out and dump the coins? This should be interesting.

https://hashtalk.org/topic/29788

GAW would never screw its customers! Oh wait, wrong company. Lol.

[WaffleMaster]

Tax forms. Gee sure seem like employees to me lol. Anyways, I can tell you that if you have evidence of fraud and criminality, you owe it to the thousands of people hurt from this to make things right for them. I would urge all mods to do so. You guys were behind the curtain, smoke, mirrors, and lies. I know your information may be limited, but as you said you had a scraping program...that is just screaming that you have video evidence on a number of things. Please consider tipping the SEC. You and all mods or ex-mods, you don't have to be a part of this. You can save your souls.

Need motivation?

https://hashtalk.org/topic/29788/i-want-to-be-very-clear-about-this

[ellave]

Hey what happened in Miami, did he Speak?  Been out the loop for the last few days

[cooldgamer]

Hey what happened in Miami, did he Speak?  Been out the loop for the last few days

Nope, he skipped the Q&A/mining panel because of the Payflash glitch.  He did show up on the first day (with bodyguards) though

[suchmoon]

Hey what happened in Miami, did he Speak?  Been out the loop for the last few days

He didn't. Also crashed his own exchange and hasn't yet explained what happened over the weekend and how/if it will be fixed.

[ellave]

Hey what happened in Miami, did he Speak?  Been out the loop for the last few days

He didn't. Also crashed his own exchange and hasn't yet explained what happened over the weekend and how/if it will be fixed.

Because his in Mexico hiding?

[suchmoon]

Hey what happened in Miami, did he Speak?  Been out the loop for the last few days

He didn't. Also crashed his own exchange and hasn't yet explained what happened over the weekend and how/if it will be fixed.

Because his in Mexico hiding?

Latest rumor is that he was celebrating MLK day and was very sick.

https://hashtalk.org/topic/29788

I think the reason we have not heard anything since is because it was a weekend then yesterday it was a federal holiday here in the USA not to mention it sounds like Josh was very sick.

[sorryforthat]

Hey what happened in Miami, did he Speak?  Been out the loop for the last few days

Nope, he skipped the Q&A/mining panel because of the Payflash glitch.  He did show up on the first day (with bodyguards) though

Bodyguards? Wow, that shows some understanding of how much he has screwed people over.

[WaffleMaster]

Hey what happened in Miami, did he Speak?  Been out the loop for the last few days

Nope, he skipped the Q&A/mining panel because of the Payflash glitch.  He did show up on the first day (with bodyguards) though

Bodyguards? Wow, that shows some understanding of how much he has screwed people over.

Kind of admitting it in a sense, isn't it? And mocking them.

[BTCwriter]

How is it that this coin is still holding steady or even rising a little overnight with all that is happening?

0.01187999 (bittrex)

Trained suckers like this?



he was answering this trained sucker who doesn't have the insight to know who's selling at these prices

He's forgot there will going to be big dumping on Feb.1
Buy on rumor, dump on new. It's too risky to hold the bag.

[sorryforthat]

How is it that this coin is still holding steady or even rising a little overnight with all that is happening?

0.01187999 (bittrex)

Trained suckers like this?



he was answering this trained sucker who doesn't have the insight to know who's selling at these prices

He's forgot there will going to be big dumping on Feb.1
Buy on rumor, dump on new. It's too risky to hold the bag.

Alot of people are making decent money on the high and lows on Paycoin. They dont really understand market and conditions.

[10BTCaDay]

Josh Garza prays on the weak minded and thats how he makes his money.
I can't explain the stupidity on hashtalk and I am glad that I bailed from Gawminers 7 months ago.
They were brought into the crypto-world brainwashed by Josh and his goons into thinking that Bitcoin are bad, XPY is GOD.

I stopped feeling bad for these morons a long time ago as there is no cure for stupidity unfortunately.

[CHAOSiTEC]

Stupidity, maybe... or maybe its Stockholm Syndrome

[coinGeek]

And...

http://arstechnica.com/tech-policy/2015/01/bitcoin-startup-gaw-miners-reportedly-under-sec-investigation/

“We publicly stated that we offered Josh Garza an opportunity to speak, and for attendees to have an opportunity to respond,” Levin told Ars, adding that although he didn’t speak, Garza was at the conference.

“He was at a bottle service table at The Clevelander [Hotel] at the kickoff party," he said. "We talked briefly and I welcomed him to the conference. He was surrounded by bodyguards—two or three large bodyguards that were blocking anyone from coming near him. I approached him to welcome him and his guards stopped me, until Josh said I was ok.

[torelle]

So here is the dilemma. Many if no most of the purchases during the cheap XPY fiasco were made by Paycoin's greatest fans - ones who were keeping BTC in Paybase waiting for an opportunity. Will GAW reverse those transactions and alienate what's remaining of its loyal following? Or will GAW let them cash out and dump the coins? This should be interesting.

https://hashtalk.org/topic/29788

It's even more of a dilemma than just what we see. Currently:

- Those who bought cheap xpy via Buy/Sell (Read, straight from GAW) are now locked out and have negative balances (if they managed to send xpy out before PB went down) or reversed transactions (If they didn't manage to send XPY out before PB went down)

- Those who bought from the Market on PB get to keep their XPY

- Market Prices on PB and Buy/Sell price on PB both were very low. I believe Market was as low as 80 cents, while BUY/SELL got as low as 1 cent.

- People sold XPY on Market to get BTC to buy cheaper XPY via BUY/SELL, rinse and repeat

- People sent in BTC and used it to buy XPY via BUY/SELL, then sold on the market for BTC, rinse and repeat

- Paybase became it's own Arbitrage vehicle for people, between the BUY/SELL and the Paybase Market.

- All types of customers, from the cynics, to the devoted used both options.

So right now GAW have clearly stated that the will not reverse and Market transactions, but have/and locked accounts that bought via the BUY/SELL options.
The problem GAW has is that users on the market and the BUY/SELL intermingled transactions, some multiple times, and essentially... washed the XPY/BTC. How are GAW able to tell what came from where.

You cannot lock accounts (illegal to do so) of one group while allowing another group to keep their transactions, because they overlap.

It's a lose-lose situation.

They cannot allow anyone to keep their transactions, because it'll flood the market and kill the coin, we're talking tens, possibly hundreds of thousands of almost free XPY.
They also cannot reverse transactions because they will make enemies of the very people who are still their only source of income (pretty much, these customers are the last cows they can milk)
They can't reverse some and not others either.

Also, where are they going to get the funds to pay for the Gyft cards people bought. Going by the amount of locked account and BTC unable to be withdrawn. GAW are using customers BTC to pay Gyft, and so DO NOT have the BTC to allow customers to withdraw.

I would not like to be in their shoes.

[jackblacksparrow]

https://hashtalk.org/topic/29788/i-want-to-be-very-clear-about-this

I just have to say, this is the biggest load of shit I have ever read on the forum, apart form whatever Josh posts when high and drunk.

The person who was paid to write this is a hypocrite in many of the shit it wrote down, I swear whoever wrote this has a bucket permanently fixed around their neck - to catch all the shit that comes from their mouths.

It is Josh's fault, and he deserves all the criticism coming his way because he fucked up.  I know most Hash talkers are too blind to see past their own profits (or lack of if they are bag holders and they are)


This sycophantic protection has taken on Jamestown levels.

Cant wait for it to all blow up in their faces like it has been lately.  Even then they cant see the problem and WHO IS the problem.

Better blame it on MLK day and being sick... Seriously LOLOLOLOLOL at your stupidity.


Also, I know this has been touched on - but redacted had all his coins in stakers.....so unless Josh bend over backwards to release them, redacted could not have dumped 3000 paycoins on the market.  He told us in many ways how he had them all locked up.

[geegaw]

It is called girding.  The inner circle is feeling the heat, screw the customers, when the SEC starts poking the Master Fraser, things are not good.

On top of that everything is going haywire. No one wants to be a part of this. GoCoin where are they? Gyft signs directly with Coinbase, do you think they are interested in some copycat called 'paybase'.

Nothing is going right. The sloppy casual deluded 'business' philosphy that Homero espouses, he dreams of things and then tries to make them happen, doesn't work in the the concrete jungle. It might work in the backwoods of Vermont where internet and wireless is trickery of the devil.

It is all collapsing for Homero. It is clear to everyone that matters, and that is not the followers rather the industry and market makers, that he does not know what he is doing.

He has crossed the Rubicon. It could have been conceivable to allow the chickening out of the conference. It could also have been conceivable to allow for the misprogramming of the gift card purchasing and auto dumping to pay for it. But thereafter, the now, the continued silence and lockout is inconceivable.

At this stage he is effectively stealing their hard earned, life saved money right in front of them. No amount of signature signed satchels or hashbase trinkets given for free will rectify this.

He and his inner circle are fighting for their lives. Not yours or anyone else's.

[cryptofunk]

I expected more from Ars Technica , I can't believe I'm going to say this but CCN usually has more bite than this article, there's no depth to it, only a bunch of quotes.

I did forget about the 10 000 to 15 000 customers per day quote, made me laugh.  Let's keep in mind that there are approx 6500 XPY addresses and most people have multiple addresses to simply transfer money between exchanges (deposit addresses).  What happened to the 100,000 customer claim?  94,000++ thousand of them let their Hashlet go down to 1 satoshi and didn't say a word?  Right

[jimmothy]

Mr. Garza denies all charges of wrongdoing and stands by the heady claims he makes about the size of his operation: 200,000 customers; $120 million in revenue over six months;

http://blogs.wsj.com/moneybeat/2014/12/01/bitbeat-under-fire-gaw-miners-ceo-garza-takes-on-his-critics/

Garza told Ars that GAW made “over $1 million in sales our first month,” adding that within a few months, “we leveled at $60 million to $80 million per year.”

He claimed the company has 100,000 customers at present, with “10,000 to 15,000 new accounts per day.”

http://arstechnica.com/tech-policy/2015/01/bitcoin-startup-gaw-miners-reportedly-under-sec-investigation/

So either Josh is making stuff up again, or GAW managed to lose $40-60 million and 100,000 customers while gaining 10,000-15,000 new accounts per day.