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

[ab8989]

We were never going to be. The whole point was for us to do everything we can to stop the fraud. And perhaps help a few people who lost a great deal of money to the whole mess of a situation to recover part of what they lost.

I do not understand. The only way how somebody who has lost money can recover anything is to somehow arrange somebody else to buy XPY. Money out to bagholders can only come from somebody new putting new money into the system. And with money I mean either BTC or fiat. Increasing XPY supply does not help anybody to recover anything.

So how do you make somebody pour new money into the system? By continuing the fraud. So helping poor bagholders equals continuing the fraud and there is no way to separate the two like you seem to want to do. Unless you can somehow magically turn everything around which I really doubt.

The other way of thinking is that if you do not spread the inflated coins equally to EVERYBODY you help somebody but at the same time you hurt somebody else because of this inequality. And if your purpose is to spread the inflated coins equally there is a much easier method to achieve exactly the same effect by refusing to inflate the coin in the first place. Refusing to inflate the coin has additional positive side effect of not creating bad blood towards anybody including the much larger community which works with other coins and hates this shitshow. The other and larger community of non-XPY people are also cryptsy customers which you could also think about a little bit.

You have placed yourself into a lose-lose situation.

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[dave01]

did you promise not to give out staked coins?

i understand you promised not to dump the 125k

At the time we thought the community would see that as a good thing vs. The foundation or GAW doing whatever they please with the coins and giving no transparency.

Based on the reaction we can see that is not the case

There is no point talking any sense to this lot they are beyond.

[suchmoon]

https://github.com/PaycoinFoundation/paycoin/blob/cf1eaf6a485281a9150e0b21e6232c0830d8697b/src/main.h

src/main.h

Code:

63	static const int64 MINIMUM_FOR_ORION = 50 * COIN;
64	static const int64 MINIMUM_FOR_PRIMENODE = 125000 * COIN;

So I was wrong, there is apparently a minimum. Which makes the leaked keys somewhat less dangerous - to make use of them someone would have to spend $20k or whatever the exchange rate is now.

Or someone would have to be in posession of 125k coins like BTClend.
Currently there are 58 addresses with over 125k in their wallets.

I think BTCLend already has a PC.

[marksw]

https://github.com/PaycoinFoundation/paycoin/blob/cf1eaf6a485281a9150e0b21e6232c0830d8697b/src/main.h

src/main.h

Code:

63	static const int64 MINIMUM_FOR_ORION = 50 * COIN;
64	static const int64 MINIMUM_FOR_PRIMENODE = 125000 * COIN;

So I was wrong, there is apparently a minimum. Which makes the leaked keys somewhat less dangerous - to make use of them someone would have to spend $20k or whatever the exchange rate is now.

Or someone would have to be in posession of 125k coins like BTClend.
Currently there are 58 addresses with over 125k in their wallets.

50 of those, 49 after last night, would be Prime Nodes themselves.  That leaves 9 addresses with over 125K?  

Do they need to be 125K in the same address? or just in the wallet staking?

They just enable the stake rate for any address in the wallet. Which is now 100% for all the prime activation keys

[Crestington]

Crestington,

Is there any way to identify if someone starts staking with these keys?  Would we just see extra inflation on the chain?

You would calculate the amount of the Stake when seeing it on the chain, it's not too hard to tell from 5% to 100% Stake rates.

[coinits]

It's sad when you have to convince a company not to be complicit in fraud

We were never going to be. The whole point was for us to do everything we can to stop the fraud. And perhaps help a few people who lost a great deal of money to the whole mess of a situation to recover part of what they lost.

Listen up dumb dumb. Allowing the coin to trade on your exchange perpetuates the fraud. I hope that all income you have derived from PayCoin will be confiscated under proceeds of crime.

[Crestington]

https://github.com/PaycoinFoundation/paycoin/blob/cf1eaf6a485281a9150e0b21e6232c0830d8697b/src/main.h

src/main.h

Code:

63	static const int64 MINIMUM_FOR_ORION = 50 * COIN;
64	static const int64 MINIMUM_FOR_PRIMENODE = 125000 * COIN;

So I was wrong, there is apparently a minimum. Which makes the leaked keys somewhat less dangerous - to make use of them someone would have to spend $20k or whatever the exchange rate is now.

Or someone would have to be in posession of 125k coins like BTClend.
Currently there are 58 addresses with over 125k in their wallets.

50 of those, 49 after last night, would be Prime Nodes themselves.  That leaves 9 addresses with over 125K?  

Do they need to be 125K in the same address? or just in the wallet staking?

They just enable the stake rate for any address in the wallet. Which is now 100% for all the prime activation keys

So if enough people had these keys then everyone would get 100%??

[CoinFire]

I still want to have an official meeting before we reveal our plan with the controller moving forward. Ill make another update tomorrow. I don't think you will be disappointed

The Feds won't be disappointed either.

[coinits]

I still want to have an official meeting before we reveal our plan with the controller moving forward. Ill make another update tomorrow. I don't think you will be disappointed

Already speaking Josh.

Soon^TM

[rawbot]

That is correct, and it gets worse as that is just one of the many flaws.

Keys were not rotated,
Compound stake was not fixed,
Stake rates are all 100% compounding,
No single prime protection was developed,
there is no "soft fork" or easy way to disable one or more primes,
What else is there?

Don't be giving Crestington ideas.   He will be posting potential fixes for this shit.   We want Paycoin dead not fixed by Crestington.

[cryptodevil]

We were never going to be. The whole point was for us to do everything we can to stop the fraud. And perhaps help a few people who lost a great deal of money to the whole mess of a situation to recover part of what they lost.

I do not understand. The only way how somebody who has lost money can recover anything is to somehow arrange somebody else to buy XPY. Money out to bagholders can only come from somebody new putting new money into the system. And with money I mean either BTC or fiat. Increasing XPY supply does not help anybody to recover anything.

So how do you make somebody pour new money into the system? By continuing the fraud. So helping poor bagholders equals continuing the fraud and there is no way to separate the two like you seem to want to do. Unless you can somehow magically turn everything around which I really doubt.

The other way of thinking is that if you do not spread the inflated coins equally to EVERYBODY you help somebody but at the same time you hurt somebody else because of this inequality. And if your purpose is to spread the inflated coins equally there is a much easier method to achieve exactly the same effect by refusing to inflate the coin in the first place. Refusing to inflate the coin has additional positive side effect of not creating bad blood towards anybody including the much larger community which works with other coins and hates this shitshow. The other and larger community of non-XPY people are also cryptsy customers which you could also think about a little bit.

You have placed yourself into a lose-lose situation.

This.This.and.This

[dave01]

That is correct, and it gets worse as that is just one of the many flaws.

Keys were not rotated,
Compound stake was not fixed,
Stake rates are all 100% compounding,
No single prime protection was developed,
there is no "soft fork" or easy way to disable one or more primes,
What else is there?

Don't be giving Crestington ideas.   He will be posting potential fixes for this shit.   We want Paycoin dead not fixed by Crestington.

Why do you want paycoin dead?

[GIFOS]

https://github.com/PaycoinFoundation/paycoin/blob/cf1eaf6a485281a9150e0b21e6232c0830d8697b/src/main.h

src/main.h

Code:

63	static const int64 MINIMUM_FOR_ORION = 50 * COIN;
64	static const int64 MINIMUM_FOR_PRIMENODE = 125000 * COIN;

So I was wrong, there is apparently a minimum. Which makes the leaked keys somewhat less dangerous - to make use of them someone would have to spend $20k or whatever the exchange rate is now.

Or someone would have to be in posession of 125k coins like BTClend.
Currently there are 58 addresses with over 125k in their wallets.

50 of those, 49 after last night, would be Prime Nodes themselves.  That leaves 9 addresses with over 125K?  

So if you made those 9 now stake at 100% additional then you get:
125k min @ 100% year = 338,393 per/year compounded daily x 9 wallets = 3,045,537 coins
3,045,537 - 1,125,000 original xpy in 9 wallets = 1,933,037 new minted coins per year (100% compounded)
or 161,086 per month
or 40,271 per week
or 5,753 new coins per day!
That could put some hurt on your investment.
(math might be wrong, was never good at it)

[Crestington]

That is correct, and it gets worse as that is just one of the many flaws.

Keys were not rotated,
Compound stake was not fixed,
Stake rates are all 100% compounding,
No single prime protection was developed,
there is no "soft fork" or easy way to disable one or more primes,
What else is there?

Don't be giving Crestington ideas.   He will be posting potential fixes for this shit.   We want Paycoin dead not fixed by Crestington.

Haha no, I'm not helping to fix it because I already have the solution. Why do I need PayCoin when I already have PayCon?

[marksw]

-snip-

So if enough people had these keys then everyone would get 100%??

I meant to say could I have 10 addresses in the prime activated wallet with 12.5k in each?

wallet total = 125k

would only show up as 12.5k on block explorers

[Blazed]

Looks like Cryptsy will do the right thing with a little help from the community. If they do give back that Prime and delist that scam coin...all is forgiven I would assume.

[rawbot]

people in HT like an idiot and a fool
they make ridiculous thread like trash
stupid ..... stupid .... once they
The world already knows paycoin is SCAME

Scame?

He's from Indonesia asswipe.

[dave01]

people in HT like an idiot and a fool
they make ridiculous thread like trash
stupid ..... stupid .... once they
The world already knows paycoin is SCAME

Scame?

He's from Indonesia asswipe.

Sorry i thought it was another type of scam/ scame /scamception/scam fraud. i forget what this is sometimes.

[bitpop]

people in HT like an idiot and a fool
they make ridiculous thread like trash
stupid ..... stupid .... once they
The world already knows paycoin is SCAME

Scame?

He's from Indonesia asswipe.

And still knows more English than Homero

[rawbot]

It's sad when you have to convince a company not to be complicit in fraud

We were never going to be. The whole point was for us to do everything we can to stop the fraud. And perhaps help a few people who lost a great deal of money to the whole mess of a situation to recover part of what they lost.

How the hell can anybody be believing this horseshit?  If anybody believes this you are on the wrong forum. You belong on Hashtalk.