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/29788It'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 Going by the amount of locked account and BTC unable to be withdrawn.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.
not sure why the accounts are locked; are they still possibly entertaining the thought of rolling back the chain to cancel out transactions ? if they do roll back the chain, which they shouldn't, they may as well roll it back to the very first transaction from cryptodouble and wipe out cryptodouble's xpy too.
