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

[rawbot]

So are you guys saying this twat is going to get away with this with all his assets squirreled away intact even if the law does catch up with him?

[Paul Revere]

On the upside, it is within the realm of possibility that the Power Company lawsuit may well involve trying to prove fraud on the part of Homero personally, removing the LLC protection of personal assets. This is the only way they will see a dime, and I guarantee the lawyers the MPC hires will want to be paid more than the minimum their agreement is for. They probably have paralegals pouring over this thread looking for clues as we speak.

[energico]

On the upside, it is within the realm of possibility that the Power Company lawsuit may well involve trying to prove fraud on the part of Homero personally, removing the LLC protection of personal assets. This is the only way they will see a dime, and I guarantee the lawyers the MPC hires will want to be paid more than the minimum their agreement is for.

In other words, the swift arm of justice will Soon™ strike Josh Garza down.

[bitillionaire]

So are you guys saying this twat is going to get away with this with all his assets squirreled away intact even if the law does catch up with him?

The upside would be that he and anyone else involved with the company will never be able to start another. There are precedents where personal assets have been seized, regardless of personal fraud. Judges wield a lot of power in this country, you guys. Plus, if they have to, they could go after Garza personally once they get nothing from the company. You can sue anyone, anytime, and often enough the threat of a lawsuit is enough to get a settlement... hasn't Garza shown you that?

[bitillionaire]

On the upside, it is within the realm of possibility that the Power Company lawsuit may well involve trying to prove fraud on the part of Homero personally, removing the LLC protection of personal assets.

Joe Mordica signed the contract though, and only in mid October last year. If there was any large scale mining going on by GAW it wasn't at this site before that date, they only got that after this contract and only managed to consume half of their allotted limit. Given what they were doing it doesn't seem unreasonable that the power company knows that somewhere in GAW there's probably upwards of 1000 BTC that have been mined (either sold or stashed, and there would be records of the former).

This could just be the delinquent portion. I've said before that they weren't nearly as detestable pre-cloud-mining. Plenty of complaints about used equipment and shit, but a shoddy piece of hardware delivered is better than a fake promise undelivered, no?

[Paul Revere]

@ ej: You are overlooking the new fangled method of embezzlement made possible with Crypto Currency. Any BTC that GAW had was "spent" trying to prop up the price of Paycoin. Translation: The BTC was likely funneled from the GAW corporate accounts into Homero's personal (hidden of course) accounts by purchasing his endless supply of free XPY. He admits this was done in a massive way during the "$20 floor attempt", with the detail about exactly who the XPY was purchased from left out, of course.

[coinits]

Fuck me. This has the potential to be a three part feature length movie. I should start a Indiegogo or GoFundMe investment fund to get a movie done. Fucking top of the charts with the right people in place.

Who plays Homero?

[Franz_Huber]

They can't possibly be this dumb, can they? It's not humanly possible to be this stupid.

I followed lewiscooper's postings on hashtalk for a couple of weeks and I can say with 100% certainty: This guy really is that stupid.

[dropt]

Fuck me. This has the potential to be a three part feature length movie. I should start a Indiegogo or GoFundMe investment fund to get a movie done. Fucking top of the charts with the right people in place.

Who plays Homero?

Chris Burke?

[owlcatz]

https://i.imgur.com/zKMjeOi.png


https://i.imgur.com/wLo1Di4.png

https://i.imgur.com/77eZNVh.png

Not a bad point really, GAW was mining using power they weren't paying for and also charging people for that power.

That's totally not fraud.  

[coinits]

Fuck me. This has the potential to be a three part feature length movie. I should start a Indiegogo or GoFundMe investment fund to get a movie done. Fucking top of the charts with the right people in place.

Who plays Homero?

Chris Burke?

Ummm nope but I see him as Mr Coins!

[paulh691]

https://i.imgur.com/zKMjeOi.png


https://i.imgur.com/wLo1Di4.png

https://i.imgur.com/77eZNVh.png

Not a bad point really, GAW was mining using power they weren't paying for and also charging people for that power.

That's totally not fraud.  

Is there any evidence of mining before October, i.e. powering hashlets or was it an afterthought for the difficult questions

[suchmoon]

https://i.imgur.com/zKMjeOi.png


https://i.imgur.com/wLo1Di4.png

https://i.imgur.com/77eZNVh.png

Not a bad point really, GAW was mining using power they weren't paying for and also charging people for that power.

That's totally not fraud.  

Funny thing is... If they hadn't oversold the hashlets mining would have been still profitable to this day at those power rates. They would have ROIed the S4s by now and rolling in cash. Relatively speaking of course. The whole thing was already fucked back in June when they sold the Vaultbreakers. Possibly even before that because the Vaultbreaker hype could have been a cover for some other fuckup, maybe those Zeus garbage miners or that free hosting they were promising.

[Paul Revere]

Fuck me. This has the potential to be a three part feature length movie. I should start a Indiegogo or GoFundMe investment fund to get a movie done. Fucking top of the charts with the right people in place.

Who plays Homero?

Chris Burke?

I have been working on several fiction stories based on elements and characters from this saga, and also have outlined a non-fictional account as well. But to be salable as non-fiction there has to be a murder and/or suicide and subsequent downfall and/or prosecution of the guilty parties. Just fraud is too blase for modern audiences.

[5ick3uffalo]

wow XPY falling like a stone in the water  - PayCon is more worth than PayCoin soon


Josh said "I am sory to say, but it is likely this will be the end of paycoin"

[SDRebel]

jesus.

so they were charging maintenance fees for power they were stealing.

I don't think not paying your bill equates to stealing. He did steal our mtc fees because he did not hand over that money though

[SDRebel]

Ok so, in 23 days they burned 700,000 kilowatt hour, so 30,000 KW/h per day, so for the time period in this document their farm was burning 1.2 megawatt (no wonder the power company put in a new transformer). We know they had an AntMiner S4 based farm, which draws just under 0.7W/GH, divide 1.2MW (ignore cooling costs) by that and we find that they had maybe a 1.7PH/s mining farm during that time. Based on the information here (and assuming I didn't cock up the math) in January the total hash rate was 300PH/s, so the "Hash King" was responsible for 0.5% of the Bitcoin network.

I'm still stunned that they signed a year long contract which I'm assuming dictated minimums seeing as they appear to have been getting 300MW/h a week for free, anybody with any insight into Bitcoin mining knows that's a terrible bet to be making. He would have been pulling in 136 BTC a week with that hashpower though, wonder where that got to, or even which pool they mined with. Only like half of it would have gone into power costs based on the invoice in the court filings.

there was also a bunch of power-hungry scrypt miners., probably not as many as S4s, but enough to screw up the math

[Franz_Huber]

Scam falling apart? Fuck it, I am buying more! Cheap coins!!

[owlcatz]

https://i.imgur.com/v9hjtha.jpg

Scam falling apart? Fuck it, I am buying more! Cheap coins!!

MrCoins is back.... 

https://hashtalk.org/topic/36033/if-an-enemy-is-stronger-divide-them-then-conquer-them/

If an enemy is stronger: Divide them, then conquer them.
So is this some alternative reality I am witnessing?

Given that the Paycoin community seems sometimes to be up against the entire world...

... can we really afford to all fight within ourselves? Wouldn't it be prudent to make Paycoin strong first?

If we divide ourselves up into pieces now, when we are weak, then we will just be even weaker.

Shouldn't we stand united AGAINST our enemies and competition and settle our differences quietly?

We do not have the luxury of strength to divide ourselves into parts right now

Here until the end, regardless of when that will be

[vancefox]

Scam falling apart? Fuck it, I am buying more! Cheap coins!!

What a shame there's a great possibility that none, or very few, understand that they can only buy coins someone is selling...  Not one of those gawlets ask where these constant sell orders come from... They just keep buying...