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

[djkhaled]

i invested money in gaw a month or so ago, have made extremely little money in return and will never ROI. but, i am extremely unsure about paycoin, i set my miners to mine HP just because theres no maintenance fee and that if this paycoin does end up being legit ill have a few, so it's whatever, at this point i have nothing to lose, if it turns out to be true than thats great and ill make a big profit if not, then ill be back to where i was and i dont really care, i never invested ludicrous amounts.

[1715002945]

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[1715002945]

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[DARKANGEL6415]

Here is some math to illustrate just how bizarre this thing is and also why nobody seems to mind the deadlines being pushed out.

You can buy a ZenHashlet on the Market for less than 13 USD at the moment. It "mines" 19 hashpoints per day. End of round 2, i.e. when hashpoints become PayCoin is 13 days away. So by that time your Zen will have mined:

Code:

19 * 13 = 247 hashpoints

Conversion rate is promised to be 400 hashpoints for 1 PayCoin, and 1 PayCoin for 20 USD. In 13 days your Zen will have mined:

Code:

247 / 400 * 20 = 12.35 USD

Nearly 100% ROI in 13 days and you still have the Zen, which you can sell in the Market or keep mining ZenPool. Now imagine if GAW "by popular demand" extends hashpoint mining for another two weeks - this will DOUBLE the profits. Who wouldn't want that?

Any questions?  

when the $20 becomes 0.000000020cents 12 minutes after launch, what then?

when this happens there will be anarchy uprising on hashtalk and they will be bussy overthere with the ban button, heck they might just down site for a few hours or so. Ofcourse my response has no merrit of truth as this will never happen more like it will hit $100 per coin as advertised 

[DARKANGEL6415]

I'm curious what this HashStaker is going to do.

On Black Friday, GAW will change the industry forever.

It's really quite simple.

You give GAW your money and they give you the promise of profit.

PromiseCoin!

how about this you send me some bitcoin to this address below i just created few days ago. I will then promise i will go to the bathroom atleast 1 time in the next week LOL 17Ymsz1mb7H6ChrDvvVyywB7xbr28HRcV5

[knowhow]

yesterday i acess zen miner and wow a top 10 genesis selling all  Hodorhodor   26994.00 GH today he just trying  to sell small parts one running or changing investment into prime that looks high 52 dollars and only 32 on the market soo what the hell happened from yesterday by today any news?

price just raised to 62 dollars now what is going on there wtf?

[bitpop]

WSJ blog post is up: http://blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/

Notice that Mike at WSJ is very careful with what he is saying....


He said....

That’s the claim made in a press statement Monday

They're still complicit in this fraud

Contacts: paul.vigna@wsj.com, @paulvigna / michael.casey@wsj.com, @mikejcasey

[raskul]

WSJ blog post is up: http://blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/

Notice that Mike at WSJ is very careful with what he is saying....


He said....

That’s the claim made in a press statement Monday

They're still complicit in this fraud

Contacts: paul.vigna@wsj.com, @paulvigna / michael.casey@wsj.com, @mikejcasey

I wouldn't say that reporting this in a journalistic sense makes the writer of the article complicit in the fraud.
They are simply putting out an article based on what they have been told.

The fact that this has all been relayed to these media outlets should cause concern for Josh that, once it all goes tits up as it is destined to do, there will be official record of his overexaggerated expectations of the project for a class action complaint to be made against him.

Inthat sense, it's probably a good thing that he is gung-ho about all of this but my point, you can't shoot tge messenger for relaying information that has been passed to them.

[knowhow]

someone is buying primes at 70 dollars just take a look into it is burning there wow


reached mark 100 dollars in minutes only left 25 primes for sell wow

[knowhow]

if you willing to roi or not well market is hot now all who bought after the 16 dollars primes can roi today looks like the advertisements is making sucess someone is buying all there

[becker]

someone is buying primes at 70 dollars just take a look into it is burning there wow


reached mark 100 dollars in minutes only left 25 primes for sell wow

Amazing, GAW going all in, trying to restart the hype train I'd guess.

[bitpop]

I think taking the flame war from Bitcointalk and Hashtalk over to third party articles is very childish, talk your side on here and there, it makes crypto look bad for all parties.

There are even more childish things going on here. We have attacks on family members and overwhelming hate from some posters. I was told to "fuck off" for telling someone that what he wrote was unconstructive. Some of you act like you were kept in a cage your whole lives and suddenly released and pointed in the direction of a nearest PC.

People need to relax and calm down, there is far too much hate in this thread when there isn't any proof of scamming, there are plenty of confirmed scamming companies they can point there hate at and still there should be no personal attacks just simple here are the PROVEN facts and that is that.

Fuck you

[Unacceptable]

Well,I guess this is what the wallet interface will look like

https://hashtalk.org/topic/19837/announcing-paybase

BTW,thanks for this thread,beats trying to get real info from the "GAWsomenauts" at HT......rose colored glasses are annoying most of the time 

[bitpop]

Thats kind of shitty for a CEO of a emerging company to lie and then threaten?
WTF

https://www.reddit.com/r/Bitcoin/comments/2neamx/remember_when_josh_said_coin_fire_didnt_reach_out/

http://genius.com/Josh-garza-confidential-notice-annotated

[bitpop]

When the coin opens to the public on Jan. 2 with what Mr. Garza says will be an anticipated market capitalization of $250 million, the company will partly back that with a store of fiat currency worth around $100 million.

http://blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/

It took bitcoin 4 1/2 years to achieve a market cap of $250 million and GAW expects their coin to achieve that in 3 months (whitepaper to market)?

This makes 0 sense.

You cannot just create $250 million out of thin air.  Markets just don't work like that.

Hey Chris.  I enjoyed your posts on HT in the short time you were there.  I agreed with your challenging posts.  In this case though, I disagree.  I think with the proper investment capital you absolutely CAN start with a market cap with that number.  Unknown startups do that everyday with unknown IPOs.  $250 million is chump change in the VC world.

Now keep in mind that this will be the market cap at launch.  5 minutes after launch and we'll see what the actual market cap is.  The fiat backing is probably the biggest plus of this coin.  BTC has nothing like it and you can see what happens with its price.  With close to 100 million USD as a glorified buy wall to keep the price up, it's not hard to understand how this number is reached.

Now, if you remember the INITIAL white paper, they said 96 million coins at launch.  At $20 per coin, that put the market cap at over 2 billion USD.  I, and others on HT, were up in arms on the math.  Josh's responses were absolute BS and made me seriously consider dumping everything I had at GAW since the math did not add up.

With the NEW whitepaper and a mere 5ish million coins for the ICO (and a total coin amount down to 12 million from 1.2 BILLION) made the numbers add up a bit.

Regardless of all that shit I just wrote (heh) the bottom line is you can't compare the early days of BTC to paycoin.  A closer comparison would be to SYScoin, which supposedly had a few hundred BTC to keep the price up.  Anyone who followed SYS knows they had a horrible launch and were in league with a verified scammer.

I'll let the more witty posters here comment on the above with regards to GAW.  

That said, I don't believe for a second that Josh is out to scam us.  I do believe that he may be waaaaaaaaaaaaaaaaay over his head in launching a new coin.  As someone who has been "mining" this coin for weeks now I hope for the best but am prepared for the worst.

You havent been mining anything. Youre just being given points.. wake up

[ellave]

You cant withdraw currently, "we are unable to process your transaction at this time" support tells me its a general issue will be fixed tomorrow

[raskul]

Thats kind of shitty for a CEO of a emerging company to lie and then threaten?
WTF

https://www.reddit.com/r/Bitcoin/comments/2neamx/remember_when_josh_said_coin_fire_didnt_reach_out/

http://genius.com/Josh-garza-confidential-notice-annotated

As they say, attack is the best form of defence. He knows his liitle money-making scam is going end badly in so many ways for all concerned.

[djkhaled]

while i dont know if this paycoin thing will be legit or not, chances are it wont be, but some of the people in this thread are insufferable, must be frustrating being filled with hate towards someone you don't know... but, i remember when i was going through puberty like you guys, its a tough time.

[bitpop]

It's sad to see mostly newbies, foreigners and minorities getting scammed. There's a kid on there asking his parents for more money. When they lose it they'll blame Bitcoin.

[seedtrue]

while i dont know if this paycoin thing will be legit or not, chances are it wont be, but some of the people in this thread are insufferable, must be frustrating being filled with hate towards someone you don't know... but, i remember when i was going through puberty like you guys, its a tough time.

Most of us have seen very similar scams before and they all started out like gaw, thats why we're making people aware.

It's sad to see mostly newbies, foreigners and minorities getting scammed. There's a kid on there asking his parents for more money. When they lose it they'll blame Bitcoin.

That is the funny thing with the Bitcoin world. People do not learn from past mistakes and history repeats itself.

[raskul]

Thats kind of shitty for a CEO of a emerging company to lie and then threaten?
WTF

https://www.reddit.com/r/Bitcoin/comments/2neamx/remember_when_josh_said_coin_fire_didnt_reach_out/

http://genius.com/Josh-garza-confidential-notice-annotated

As they say, attack is the best form of defence. He knows his liitle money-making scam is going end badly in so many ways for all concerned.

defense*

no. defence.

little*

unlike my big ugly Scottish fingers which are way too big to type properly onto my phone.
but you are quite correct is is in no way a LITTLE scam whatsoever, it's actually quite a BIG scam.

...and no I doubt that, if it was a scam it wouldn't be held in the US,

because the US is the god of the universe. uhuh. we know. we hear it often.  

too many laws and already actions taken against shitty crypto companies here.

point me towards a single criminal case please? from what i understand your 'laws' revolve around civil actions, not criminal ones.

I think Plans to make their fortune off of the 5% sell and 5% buy from hashmarket, selling miners, and making themselves a "facebook" of crypto.

Plans doesn't have a capital P.  

Honestly i think everyone here is trying to look out for others and it's good but I think it's been stated that this isn't a 100% safe thing to invest in, it's crypto and it is a risky investment we all need to realize this.

O'Reilly? then we can conclude this pedantry and just agree, it's a stinky scam which is due to make Josh millions and the average investor : fuck-all.

Companies are going to come and go and try to push it mainstream and that's just going to happen until it either becomes mainstream or dies a fad.

neither. it will not just 'die a fad' it will extort money from it's investors perpetually until it all comes crashing down, then, those who perpetrated it,will run with the cash they have accrued.

this is, in my most humble opinion, how i foresee the timeline of this ridiculous money-making endeavour.

[alienesb]

If this payment system is not backed by FDIC or SIPC I wouldn't go near it at all. They can't pull this off without attracting regulator attention so it should get interesting. If they were smart they would try to hoodwink some smaller bank or credit union to back this so they can get some legitimacy into it.

I love the idea, just not the shady company trying to pull it off. Forget about the buying stuff, the payments from BTC to other parties like credit cards and other bills is a good idea.