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

[5ick3uffalo]

https://hashtalk.org/topic/34550/hashtalk-org-will-be-discontinued

Even that was lie , lol

[kingscrown]

even EXCL was/is capable of selling stuff for it.

[TheMage]

So... I keep reading over on HT that Mineral is coming out with a debit card soon... say they do that, and even let the folks buy the debit card with XPY... won't that be like a vacuum sucking down the price when the debit card starts auto-converting to USD or what ever currency the local gas station wants to get off of the card? I'm having trouble understanding how the debit card is going to help the situation... what am I missing?

Debit card is just the latest attempt of "something" in a list of things to make it look like they are doing something to make the price go up, but it won't actually work.

To increase the price they need to reduce the supply or increase the demand. Can't reduce the supply, the only way anyone has made any money on this shit show is "create coins out of thin air, sell to idiots," so lets increase the demand.

If there is something to do with paycoins (debit card, coinstand) whatever, people will want/need to buy paycoins to do the thing, and make the price go up. That's as far as they go, so they spend lots of time and energy trying to come up with "things" (coinstand, honors program, debit cards, other assorted nonsense) to give people a reason to buy the coin. The problem with all of this is that there are so many people stuck with so many coins that the price went up. People that bought coins from anywhere from 20 cents to 20 dollars aren't going to buy more to use coinstand or a debit card or whatever. They will just use coins they already have, and then the person at the other end will have to sell their coins to pay their bills, so the price will just go further down until everyone gives up.

Has no one yet pointed out the obvious? In order to set something like this up there needs to be a paycoin/FIAT trading pair to liquidate those coins. And im pretty sure Mineral does not have proper AML/KYC set up requiring user information. In addition, I highly doubt they have the banking partners in order to help out with this.


So yea, yet again the obvious is right in front of everyone. Lack of AML/KYC law adherence will not let them launch a debit card.

[Buckeye2015]

So... I keep reading over on HT that Mineral is coming out with a debit card soon... say they do that, and even let the folks buy the debit card with XPY... won't that be like a vacuum sucking down the price when the debit card starts auto-converting to USD or what ever currency the local gas station wants to get off of the card? I'm having trouble understanding how the debit card is going to help the situation... what am I missing?

Debit card is just the latest attempt of "something" in a list of things to make it look like they are doing something to make the price go up, but it won't actually work.

To increase the price they need to reduce the supply or increase the demand. Can't reduce the supply, the only way anyone has made any money on this shit show is "create coins out of thin air, sell to idiots," so lets increase the demand.

If there is something to do with paycoins (debit card, coinstand) whatever, people will want/need to buy paycoins to do the thing, and make the price go up. That's as far as they go, so they spend lots of time and energy trying to come up with "things" (coinstand, honors program, debit cards, other assorted nonsense) to give people a reason to buy the coin. The problem with all of this is that there are so many people stuck with so many coins that the price went up. People that bought coins from anywhere from 20 cents to 20 dollars aren't going to buy more to use coinstand or a debit card or whatever. They will just use coins they already have, and then the person at the other end will have to sell their coins to pay their bills, so the price will just go further down until everyone gives up.

Has no one yet pointed out the obvious? In order to set something like this up there needs to be a paycoin/FIAT trading pair to liquidate those coins. And im pretty sure Mineral does not have proper AML/KYC set up requiring user information. In addition, I highly doubt they have the banking partners in order to help out with this.

So yea, yet again the obvious is right in front of everyone. Lack of AML/KYC law adherence will not let them launch a debit card.

There are so many technical hurdles. I know coinbase has been working on their licensing so they can do USD trading/exchanges in house for well over a year now and they're still probably only about half way through all of the states. But, I was just thinking how BTC could withstand vendor adoption because there was a lot of wiggle room in there. BUT, if they finally bring on full access to paystand and debit cards, when they're hovering around $0.20, it won't take long until they're going to have to be willing to fork over thousands of XPY just to buy half a tank of gas. It sure would suck to turn over a thousand coins that cost me $8/ea for a half a tank of gas. That would be the most expensive half tank of gas ever. And, it will be that for anything... imagine 500XPY for a burger or something simple when you initially paid $5,000 ($10/ea) for them! That would make me physically ill. And, since you know they're going to charge for that debit card, what new users are you going to draw in to get to buy a debit card in order to buy BTC in order to buy XPY in order to buy the burger you could have paid for with your other debit card. It's going to sure suck if they eventually get their paystand invites and their debit cards only to watch XPY plummet to sub $0.01 levels.

[adipurnama]

buy xpy now and you can 20$ (but in the dream)
buy xpy april......profite on may BTC0.00001

 

[TheMage]

So... I keep reading over on HT that Mineral is coming out with a debit card soon... say they do that, and even let the folks buy the debit card with XPY... won't that be like a vacuum sucking down the price when the debit card starts auto-converting to USD or what ever currency the local gas station wants to get off of the card? I'm having trouble understanding how the debit card is going to help the situation... what am I missing?

Debit card is just the latest attempt of "something" in a list of things to make it look like they are doing something to make the price go up, but it won't actually work.

To increase the price they need to reduce the supply or increase the demand. Can't reduce the supply, the only way anyone has made any money on this shit show is "create coins out of thin air, sell to idiots," so lets increase the demand.

If there is something to do with paycoins (debit card, coinstand) whatever, people will want/need to buy paycoins to do the thing, and make the price go up. That's as far as they go, so they spend lots of time and energy trying to come up with "things" (coinstand, honors program, debit cards, other assorted nonsense) to give people a reason to buy the coin. The problem with all of this is that there are so many people stuck with so many coins that the price went up. People that bought coins from anywhere from 20 cents to 20 dollars aren't going to buy more to use coinstand or a debit card or whatever. They will just use coins they already have, and then the person at the other end will have to sell their coins to pay their bills, so the price will just go further down until everyone gives up.

Has no one yet pointed out the obvious? In order to set something like this up there needs to be a paycoin/FIAT trading pair to liquidate those coins. And im pretty sure Mineral does not have proper AML/KYC set up requiring user information. In addition, I highly doubt they have the banking partners in order to help out with this.

So yea, yet again the obvious is right in front of everyone. Lack of AML/KYC law adherence will not let them launch a debit card.

There are so many technical hurdles. I know coinbase has been working on their licensing so they can do USD trading/exchanges in house for well over a year now and they're still probably only about half way through all of the states. But, I was just thinking how BTC could withstand vendor adoption because there was a lot of wiggle room in there. BUT, if they finally bring on full access to paystand and debit cards, when they're hovering around $0.20, it won't take long until they're going to have to be willing to fork over thousands of XPY just to buy half a tank of gas. It sure would suck to turn over a thousand coins that cost me $8/ea for a half a tank of gas. That would be the most expensive half tank of gas ever. And, it will be that for anything... imagine 500XPY for a burger or something simple when you initially paid $5,000 ($10/ea) for them! That would make me physically ill. And, since you know they're going to charge for that debit card, what new users are you going to draw in to get to buy a debit card in order to buy BTC in order to buy XPY in order to buy the burger you could have paid for with your other debit card. It's going to sure suck if they eventually get their paystand invites and their debit cards only to watch XPY plummet to sub $0.01 levels.

I dont you understand me, they can NOT get a debit card, it would require a banking relationship as far as I know. In order to have that, you need to have the proper AML/KYC information collected, and even with that, you need to have one hell of a risk management system in order to even get a bank to consider you.

There are other ways around this, but then again those other ways require other companies that I seriously doubt would touch mineral or paycoin with a 10 foot pole.


I'm basically saying its near impossible for them right now......

[Bit_Happy]

So... I keep reading over on HT that Mineral is coming out with a debit card soon... say they do that, and even let the folks buy the debit card with XPY... won't that be like a vacuum sucking down the price when the debit card starts auto-converting to USD or what ever currency the local gas station wants to get off of the card? I'm having trouble understanding how the debit card is going to help the situation... what am I missing?

Debit card is just the latest attempt of "something" in a list of things to make it look like they are doing something to make the price go up, but it won't actually work.

To increase the price they need to reduce the supply or increase the demand. Can't reduce the supply, the only way anyone has made any money on this shit show is "create coins out of thin air, sell to idiots," so lets increase the demand.

If there is something to do with paycoins (debit card, coinstand) whatever, people will want/need to buy paycoins to do the thing, and make the price go up. That's as far as they go, so they spend lots of time and energy trying to come up with "things" (coinstand, honors program, debit cards, other assorted nonsense) to give people a reason to buy the coin. The problem with all of this is that there are so many people stuck with so many coins that the price went up. People that bought coins from anywhere from 20 cents to 20 dollars aren't going to buy more to use coinstand or a debit card or whatever. They will just use coins they already have, and then the person at the other end will have to sell their coins to pay their bills, so the price will just go further down until everyone gives up.

When "everyone gives up" the huge % up-bounces will probably end, but for now XPY is a great coin for short-term trading IF you place your orders low enough.

[Crestington]

When "everyone gives up" the huge % up-bounces will probably end, but for now XPY is a great coin for short-term trading IF you place your orders low enough.

Money in Homero's pocket.

[Crestington]

So, just got a USD$2.36 royalty off a book... SO tempted to go out and buy me some XPY and ride that puppy into the dirt... but I might go the PayCON route instead. At least there, I really would be sad if it went into the dirt. :-)

I love PayCon because it just lets you be a dick and annoy people a bit but I would be really sad to see it go into the dirt since I actually do care about the people that hold it and want to see them gain success with it.

[miaviator]

Has no one yet pointed out the obvious? In order to set something like this up there needs to be a paycoin/FIAT trading pair to liquidate those coins. And im pretty sure Mineral does not have proper AML/KYC set up requiring user information. In addition, I highly doubt they have the banking partners in order to help out with this.


So yea, yet again the obvious is right in front of everyone. Lack of AML/KYC law adherence will not let them launch a debit card.

Verifications?

[TheMage]

Has no one yet pointed out the obvious? In order to set something like this up there needs to be a paycoin/FIAT trading pair to liquidate those coins. And im pretty sure Mineral does not have proper AML/KYC set up requiring user information. In addition, I highly doubt they have the banking partners in order to help out with this.


So yea, yet again the obvious is right in front of everyone. Lack of AML/KYC law adherence will not let them launch a debit card.

Verifications?

Statements like these are why he is being investigated.


FYI I REALLY hate the fact that hashtalk does not have post time/date stamps. That has bothered me for quite a long time now.

[suchmoon]

FYI I REALLY hate the fact that hashtalk does not have post time/date stamps. That has bothered me for quite a long time now.

The RSS feeds have them. Just add .rss to the URL, e.g.:

https://hashtalk.org/topic/36962.rss
https://hashtalk.org/category/26.rss

Edit: also hovering the cursor on the "X hours ago" text will show the timestamp (not sure how to do that on a touchscreen though)

[miaviator]

I had some free time: https://bitcointalk.org/index.php?topic=1036473.0 

[Crestington]

I had some free time: https://bitcointalk.org/index.php?topic=1036473.0 

That's awesome!

I would estimate you would end up with 50-100 pages of just meme's

[Fargo]

I had some free time: https://bitcointalk.org/index.php?topic=1036473.0 

I had a good laugh.

[flyingplows]

Well done, you know how they say - it's better to see it one time than to hear many times about it
A nice scenario: newbie comes to the forums and thinks ''hm..., I wonder whether I should invest some money in that mineral platform and hashstaker 2.0'' and a few minutes later looks through that thread

[bitpop]

Found an idiot using mineral https://hashtalk.org/topic/36970/mineral-trading-stuck-again

[favdesu]

Found an idiot using mineral https://hashtalk.org/topic/36970/mineral-trading-stuck-again

why not? it's the fastest growing exchange in the garza world. 

[crazyivan]

Has no one yet pointed out the obvious? In order to set something like this up there needs to be a paycoin/FIAT trading pair to liquidate those coins. And im pretty sure Mineral does not have proper AML/KYC set up requiring user information. In addition, I highly doubt they have the banking partners in order to help out with this.


So yea, yet again the obvious is right in front of everyone. Lack of AML/KYC law adherence will not let them launch a debit card.

Verifications?

Statements like these are why he is being investigated.


FYI I REALLY hate the fact that hashtalk does not have post time/date stamps. That has bothered me for quite a long time now.

There s no authority which could disregard this kind of statements. Falls advertising, misleading his clients, fraud......add to this list.

[mgibson38]

Well done, you know how they say - it's better to see it one time than to hear many times about it
A nice scenario: newbie comes to the forums and thinks ''hm..., I wonder whether I should invest some money in that mineral platform and hashstaker 2.0'' and a few minutes later looks through that thread

It's threads like these that prevent newbies from getting homeronized by the paycoin scam (hilarious find by the way paul revere, good ol' urban dictionary).