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

[cryptodaknight]

Do people still not get this, the Hash Staker prevents a dump, Pay Base is the end game, Pay Base will also allow BTC payments it is a  payment processing site that charges fees just not as high as a credit card. So by preventing the initial dump GAW has ensured any floor put in place is safe, the floor is payed by the hash staker. On primes and other hashlets convert, no more mining. GAW mines all equipment on either BTC or LTC. More money to keep the floor in place. After 2 or 3 months staked coins have doubled, customers are happy even though no real money. In 6 months Pay Base has taken off, pay coin slowly loses value and GAW states that he had the most profitable coin for the last 6 months and it is market forces causing the drop in price.
I say get in now, probably double your money, then the mining side of GAW will be gone and it will all be about pay base. The one problem GAW may find is that a competitor will come along and do the same without a bullshit coin or Pay Pal fully integrates bitcoin if that happens pay base is dead within 2 months and so is GAW as a business.

You're making sense. Don't do that, this is a thread for wild speculation and religious videos. Put it on HT and see how long you last 

Seriously though, this is an interesting theory. I still don't see how it would prevent me from dumping most of my coins at the first opportunity, but I'm probably underestimating the average greed of a GAW customer. We'll see.

I think Gaw would like some customers to dump first chance, less coins on the market or more in their hands. Seems like said above it's like CD for cryptos, but used word like your mining, POS. But really is more like a high paying CD. I also believe they are now switching over to Paycoin, which they will still mine BTC, to support their business, and also creating infracture similar to paypal but better. So in this alone it's pretty cool and ingenious honestly. They have so much money to build floor, but also support ongoing payment services, and marketing.

Love or hate Gawminer, unless they mismanage funds, or make a big mistake they will be a huge financial player longer in this, think of gaw as a new Paypal for cryptos. Least thats what I'm seeing here, but they brilliantly put this together in a good or bad way. Not sure yet.

It's all bad and will crash on day one, if there ever is a day one. They just pull it all of of Josh's ass as they go.

One thing your missing is that the floor for paycoin is supported with $20 and millions. Crash and burn might not be that easy, as the funds seem to be there. If some big investors are in this, why did they invest? Did they really invest? If the did, people will millions don't invest that much into something that they feel doesn't have a chance, so fact is Josh/Gaw has 100 million plus in reserves from serious investors, or he doesn't.

To me, if we can verify this, it tells me everything i need to know to trust or not trust gawminers.

[jackbox]

I'm unsure what the limitations are on the withdrawals. The site says "withdrawals limited based on amount as hot wallet doesn't contain large amounts". Now i've seen multiple hot wallet addresses for my withdrawals and most seemed to contain 127BTC. I did a withdrawal > 10BTC and it was set on pending. I had to lodge a ticket with a screenshot of the withdrawal pending AND the blockchain.info transaction address showing it had 0 BTC. I kept then doing around 4BTC at a time to stay under the radar amount and it worked till yesterday when a 2.91 or so one was held pending. They have released it now but they must be tracking your overall withdrawal amounts to with hold. I don't see why.... its not really protection since 2FA forced on people provide that protection so people need both my phone and password.

I noticed numerous bugs with withdrawals as well... sometimes it would say unable to process transaction in the red box... sometimes it would say enter btc amount even though i had it in there. I realised that something code wise their end wasn't running as the USD box next to the BTC box wasn't populating as i entered BTC.

I'm glad i've retrieved all my BTC though. I'd go back in if it was more transparent as i did like the interface and idea of hashlets but i can't get past the cult mentality of praise and no wrong on the hashtalk forums and the lack of providing proof to those asking for it. Saying have faith and trust isn't enough. Faith and trust hasn't brought out the CNN and Forbes or whatever it was articles... the Wall street journal thing wasn't an interview... it was a press release. Google trends show no heavy searching on this... target, wallmart and amazon WERE quoted by the CEO of GAW now thats gone. Its just too fishy.

I am stubbornly refusing to call it a ponzi simply because GAW does not need to use new customers' funds to pay old customers (the typical definition of a ponzi).

How do you know? What if the customer sales on market 10% (5% for sell 5% for buy) are whats supporting the payouts? As well as the new staker sales etc. Everything is being pushed to paycoin yet the customers are paying in BTC. Something isn't right. People are reinvesting BTC earned from payouts so nothing is leaving the eco system which would be typical of a mining contract... you pay upfront to take excess out.
This is all going to come crashing down i believe the day paycoin hits if it does. People are trying to get big amounts of paycoin with the expectation that they can go on paybase or whatever it is and sell @ $20. Shouldn't that $250 million backing allow people to withdraw @ that price? (unless that $250 million backing isn't real).

Who are the partners... why aren't they named? Sure NDA yeah yeah... is there a date they will come out and say who it is?

I think its way too dangerous. Its going to collapse eventually when enough strain happens. Its just at the start of it all with everyone establishing big investments for big returns. Come return time i think there is going to be alot of anger and tears.

Well good and valid points. I think the biggest problem people have with Gawminers, and rightfully so, is transparency is only is trust us from past actions. We don't see the whole picture yet.

Doesn't mean they have ill intentions, but does cause people in crytos especially to be very skeptical. We have been screwed a lot in this new market place, where scams are more predominant than legit coins or businesses.  So this thread IMO is good for talking about this coin and company.

I think until we see the whole plan with partners, then just are only going to have lots of uncertainty. Some will either win very big in trusting gaw, or will lose big. Time will tell.

If this was a genuine financial transaction, such as a bond or stock offering, hiding the "investors" under an NDA would be illegal, the entire deal would have government regulator scrutiny and financial industry scrutiny. The fact that nobody can scrutinize the facts of this because GAW won't release the facts, or they don't actually exist, should be enough for anyone with a single brain cell to run away from this as fast as they possibly can. No good can come out of this. IMO, it is most likely a scam, many people will be ruined financially and sadly some suicides will result from this mess.

[cryptodaknight]

I'm unsure what the limitations are on the withdrawals. The site says "withdrawals limited based on amount as hot wallet doesn't contain large amounts". Now i've seen multiple hot wallet addresses for my withdrawals and most seemed to contain 127BTC. I did a withdrawal > 10BTC and it was set on pending. I had to lodge a ticket with a screenshot of the withdrawal pending AND the blockchain.info transaction address showing it had 0 BTC. I kept then doing around 4BTC at a time to stay under the radar amount and it worked till yesterday when a 2.91 or so one was held pending. They have released it now but they must be tracking your overall withdrawal amounts to with hold. I don't see why.... its not really protection since 2FA forced on people provide that protection so people need both my phone and password.

I noticed numerous bugs with withdrawals as well... sometimes it would say unable to process transaction in the red box... sometimes it would say enter btc amount even though i had it in there. I realised that something code wise their end wasn't running as the USD box next to the BTC box wasn't populating as i entered BTC.

I'm glad i've retrieved all my BTC though. I'd go back in if it was more transparent as i did like the interface and idea of hashlets but i can't get past the cult mentality of praise and no wrong on the hashtalk forums and the lack of providing proof to those asking for it. Saying have faith and trust isn't enough. Faith and trust hasn't brought out the CNN and Forbes or whatever it was articles... the Wall street journal thing wasn't an interview... it was a press release. Google trends show no heavy searching on this... target, wallmart and amazon WERE quoted by the CEO of GAW now thats gone. Its just too fishy.

I am stubbornly refusing to call it a ponzi simply because GAW does not need to use new customers' funds to pay old customers (the typical definition of a ponzi).

How do you know? What if the customer sales on market 10% (5% for sell 5% for buy) are whats supporting the payouts? As well as the new staker sales etc. Everything is being pushed to paycoin yet the customers are paying in BTC. Something isn't right. People are reinvesting BTC earned from payouts so nothing is leaving the eco system which would be typical of a mining contract... you pay upfront to take excess out.
This is all going to come crashing down i believe the day paycoin hits if it does. People are trying to get big amounts of paycoin with the expectation that they can go on paybase or whatever it is and sell @ $20. Shouldn't that $250 million backing allow people to withdraw @ that price? (unless that $250 million backing isn't real).

Who are the partners... why aren't they named? Sure NDA yeah yeah... is there a date they will come out and say who it is?

I think its way too dangerous. Its going to collapse eventually when enough strain happens. Its just at the start of it all with everyone establishing big investments for big returns. Come return time i think there is going to be alot of anger and tears.

Well good and valid points. I think the biggest problem people have with Gawminers, and rightfully so, is transparency is only is trust us from past actions. We don't see the whole picture yet.

Doesn't mean they have ill intentions, but does cause people in crytos especially to be very skeptical. We have been screwed a lot in this new market place, where scams are more predominant than legit coins or businesses.  So this thread IMO is good for talking about this coin and company.

I think until we see the whole plan with partners, then just are only going to have lots of uncertainty. Some will either win very big in trusting gaw, or will lose big. Time will tell.

If this was a genuine financial transaction, such as a bond or stock offering, hiding the "investors" under an NDA would be illegal, the entire deal would have government regulator scrutiny and financial industry scrutiny. The fact that nobody can scrutinize the facts of this because GAW won't release the facts, or they don't actually exist, should be enough for anyone with a single brain cell to run away from this as fast as they possibly can. No good can come out of this. IMO, it is most likely a scam, many people will be ruined financially and sadly some suicides will result from this mess.

I agree with you on not being able to see what's going on for sure. Like i said i'm on fence. But as i said in last post to me finding out if he has 100 million like he says, or whatever amount investors bought into makes all the difference.

Also if he got that many investors to pay that much, then most likely this is legit and using USD NOT bitcoin from these investors he cannot hide from law. He'd be locked up pretty quickly if he purposefully scamed in dollars.

There is no chance he got 100 million in bitcoin from investors.

I will say this, maybe pressuring gaw to show it's finanicals or if we can look them up from this venture capital investment he's made, if it's been done in USD, their has to be a record of this somewhere i'd imagine.

[deeneendo]

Well, I asked about the news articles that are supposed to be forthcoming:

https://hashtalk.org/topic/20443/cnn-forbes-etc/4

The CEO chimed in, in a rather comical way actually 

[jackbox]

I'm unsure what the limitations are on the withdrawals. The site says "withdrawals limited based on amount as hot wallet doesn't contain large amounts". Now i've seen multiple hot wallet addresses for my withdrawals and most seemed to contain 127BTC. I did a withdrawal > 10BTC and it was set on pending. I had to lodge a ticket with a screenshot of the withdrawal pending AND the blockchain.info transaction address showing it had 0 BTC. I kept then doing around 4BTC at a time to stay under the radar amount and it worked till yesterday when a 2.91 or so one was held pending. They have released it now but they must be tracking your overall withdrawal amounts to with hold. I don't see why.... its not really protection since 2FA forced on people provide that protection so people need both my phone and password.

I noticed numerous bugs with withdrawals as well... sometimes it would say unable to process transaction in the red box... sometimes it would say enter btc amount even though i had it in there. I realised that something code wise their end wasn't running as the USD box next to the BTC box wasn't populating as i entered BTC.

I'm glad i've retrieved all my BTC though. I'd go back in if it was more transparent as i did like the interface and idea of hashlets but i can't get past the cult mentality of praise and no wrong on the hashtalk forums and the lack of providing proof to those asking for it. Saying have faith and trust isn't enough. Faith and trust hasn't brought out the CNN and Forbes or whatever it was articles... the Wall street journal thing wasn't an interview... it was a press release. Google trends show no heavy searching on this... target, wallmart and amazon WERE quoted by the CEO of GAW now thats gone. Its just too fishy.

I am stubbornly refusing to call it a ponzi simply because GAW does not need to use new customers' funds to pay old customers (the typical definition of a ponzi).

How do you know? What if the customer sales on market 10% (5% for sell 5% for buy) are whats supporting the payouts? As well as the new staker sales etc. Everything is being pushed to paycoin yet the customers are paying in BTC. Something isn't right. People are reinvesting BTC earned from payouts so nothing is leaving the eco system which would be typical of a mining contract... you pay upfront to take excess out.
This is all going to come crashing down i believe the day paycoin hits if it does. People are trying to get big amounts of paycoin with the expectation that they can go on paybase or whatever it is and sell @ $20. Shouldn't that $250 million backing allow people to withdraw @ that price? (unless that $250 million backing isn't real).

Who are the partners... why aren't they named? Sure NDA yeah yeah... is there a date they will come out and say who it is?

I think its way too dangerous. Its going to collapse eventually when enough strain happens. Its just at the start of it all with everyone establishing big investments for big returns. Come return time i think there is going to be alot of anger and tears.

Well good and valid points. I think the biggest problem people have with Gawminers, and rightfully so, is transparency is only is trust us from past actions. We don't see the whole picture yet.

Doesn't mean they have ill intentions, but does cause people in crytos especially to be very skeptical. We have been screwed a lot in this new market place, where scams are more predominant than legit coins or businesses.  So this thread IMO is good for talking about this coin and company.

I think until we see the whole plan with partners, then just are only going to have lots of uncertainty. Some will either win very big in trusting gaw, or will lose big. Time will tell.

If this was a genuine financial transaction, such as a bond or stock offering, hiding the "investors" under an NDA would be illegal, the entire deal would have government regulator scrutiny and financial industry scrutiny. The fact that nobody can scrutinize the facts of this because GAW won't release the facts, or they don't actually exist, should be enough for anyone with a single brain cell to run away from this as fast as they possibly can. No good can come out of this. IMO, it is most likely a scam, many people will be ruined financially and sadly some suicides will result from this mess.

I agree with you on not being able to see what's going on for sure. Like i said i'm on fence. But as i said in last post to me finding out if he has 100 million like he says, or whatever amount investors bought into makes all the difference.

Also if he got that many investors to pay that much, then most likely this is legit and using USD NOT bitcoin from these investors he cannot hide from law. He'd be locked up pretty quickly if he purposefully scamed in dollars.

There is no chance he got 100 million in bitcoin from investors.

I will say this, maybe pressuring gaw to show it's finanicals or if we can look them up from this venture capital investment he's made, if it's been done in USD, their has to be a record of this somewhere i'd imagine.

There is no backers. The kind of people that make these type of investments are not stupid. They know that their involvement would pump the value of the investment. If there was legitimate money in the amount he suggest the investors would be yelling off the rooftops they invested and have confidence in this scheme. The fact that there is silence suggest that no real financial investors exist. Look at any big financial deal. It is immediately whopped up with press releases, photo ops and what not. No, Virginia, there are no investors.

[cryptodaknight]

I will also say this. IF this paycoin is the real deal, there are many bitcoin big bagholders that would be extremely threatened by a new coin trying to trend in their territory and take over. As I hear over and over, bitcoin will also be.

Maybe it will, maybe it won't, but one thing is for sure, there will NOT just be one coin. Once we reach outside of cryptos you think people will care if it's bitcoin, paycoin, or whatever coin?

They will use what has most stable money, or what can be have stable or growing value. They won't care what coin it is, only those in cryptos now cannot see or don't wanna see bigger picture.

Gaw if for real, has this funding, well they probably will be the second coin that will have real trusted value and maybe even more popular as they have marketing money unlike bitcoin. Though in reality i think both would go up in value concurrently if paycoin takes off.

[clanbake]

http://gawful.org - Share your GAW nightmare stories if you have been scammed by them

Nice one, I also just registered hashfaker.com Not sure what i'll do with it yet.

[suchmoon]

Well, I asked about the news articles that are supposed to be forthcoming:

https://hashtalk.org/topic/20443/cnn-forbes-etc/4

The CEO chimed in, in a rather comical way actually 

Hmmm... It was a mistake to announce the interviews but I'm doing it again... because....

GAW_CEO
Admins
Global Moderator
Industry Innovator
I have answered this a half a dozen times. New publications when they want. We do not control it, sometimes we do not even know what it will happen.

When the wsj article came out last week, we did not even know it had until it happened already.

It was a mistake to tell everyone we were doing these, we did not realize there would be a delay in their postings, or that everyone would keep asking about it.

The answer is, they will when when they want to run them. Please stop making new threads about this.

Ps. I have done even more interviews with a few same level publications, but I will not mention who they are until they run.

Speaking of announcements:

https://twitter.com/gawceo/status/538247762396327936

Paybase and Paycoin will announce a global financial partner next week!

[jackbox]

Well, I asked about the news articles that are supposed to be forthcoming:

https://hashtalk.org/topic/20443/cnn-forbes-etc/4

The CEO chimed in, in a rather comical way actually 

Hmmm... It was a mistake to announce the interviews but I'm doing it again... because....

GAW_CEO
Admins
Global Moderator
Industry Innovator
I have answered this a half a dozen times. New publications when they want. We do not control it, sometimes we do not even know what it will happen.

When the wsj article came out last week, we did not even know it had until it happened already.

It was a mistake to tell everyone we were doing these, we did not realize there would be a delay in their postings, or that everyone would keep asking about it.

The answer is, they will when when they want to run them. Please stop making new threads about this.

Ps. I have done even more interviews with a few same level publications, but I will not mention who they are until they run.

Speaking of announcements:

https://twitter.com/gawceo/status/538247762396327936

Paybase and Paycoin will announce a global financial partner next week!

Global financial partner? Bitcoin? Darkcoin? Peercoin? Not anything real of course.

[cryptodaknight]

Well i tweeted back to him about releasing something substantial asap, or why wait, what for.

This is my issue with Gawminer, always a wait for good news. But they really need to be more transparent of they are legit, otherwise why need for waiting to show something. Even just financial proof they collected funds for ICO. That is not too much to ask for at this point, now after hashstaker has been sold to many people.

I keep saying on fence with Gaw, but these constant delays in announcements or showing something of financial transparency is not acceptable. Wait a week he say, WHY??

What is the reason for that? Stall for more hashstaker sales? Creating marketing hype? I just think releasing full facts that phase 1 has been sold to real investors and was as good as he said at this point would just create more people buying hashlets as they would know it's totally legit as far as ICO is concerned.

SOOOO, why would you wait for this release?


https://twitter.com/gawceo/status/538247762396327936

[jackbox]

Well i tweeted back to him about releasing something substantial asap, or why wait, what for.

This is my issue with Gawminer, always a wait for good news. But they really need to be more transparent of they are legit, otherwise why need for waiting to show something. Even just financial proof they collected funds for ICO. That is not too much to ask for at this point, now after hashstaker has been sold to many people.

I keep saying on fence with Gaw, but these constant delays in announcements or showing something of financial transparency is not acceptable. Wait a week he say, WHY??

What is the reason for that? Stall for more hashstaker sales? Creating marketing hype? I just think releasing full facts that phase 1 has been sold to real investors and was as good as he said at this point would just create more people buying hashlets as they would know it's totally legit as far as ICO is concerned.

SOOOO, why would you wait for this release?


https://twitter.com/gawceo/status/538247762396327936

The announcements are hype to get the lemmings excited and forget about the previous bogus announcements. They red herrings to make people forget about all the previous promises that never came true. It will be announcement after announcement with nothing real.

[suchmoon]

Global financial partner? Bitcoin? Darkcoin? Peercoin? Not anything real of course.

Maybe The First National Bank of Podunk issuing a Visa (hence global) card for them.

[cryptodaknight]

Well i tweeted back to him about releasing something substantial asap, or why wait, what for.

This is my issue with Gawminer, always a wait for good news. But they really need to be more transparent of they are legit, otherwise why need for waiting to show something. Even just financial proof they collected funds for ICO. That is not too much to ask for at this point, now after hashstaker has been sold to many people.

I keep saying on fence with Gaw, but these constant delays in announcements or showing something of financial transparency is not acceptable. Wait a week he say, WHY??

What is the reason for that? Stall for more hashstaker sales? Creating marketing hype? I just think releasing full facts that phase 1 has been sold to real investors and was as good as he said at this point would just create more people buying hashlets as they would know it's totally legit as far as ICO is concerned.

SOOOO, why would you wait for this release?


https://twitter.com/gawceo/status/538247762396327936

The announcements are hype to get the lemmings excited and forget about the previous bogus announcements. They red herrings to make people forget about all the previous promises that never came true. It will be announcement after announcement with nothing real.

Well maybe so, but honestly if it was a scam, he's not gonna be able to walk away. So what would be motive. Everyone knows who he is, he's taken USD $$ and also has a company registered in USA. Not easy to walk away from here in states.

[spacewalker1]

What happened to project prime? I think that's what it's called. He also mentioned they should learn a new trick https://twitter.com/gawceo/status/533451446231261184
Right now it sounds like he has no plan whatsoever for them. He doesn't know how much paycoins may fit in there, he doesnt't know wheter they should have a cooldown period for staking or not, he doesn't know the duration for staking but he surely knows it will cost his company 100 millions of dollars. I'm sick of all this "you see where this is going?" and "who can put up my whole plan since the beginning?" etc. He pretty sure has no plan at all yet and never had one, he is realising now he made a huge mistake by hyping the primes all the time. Still no big retailer confirmed being in this, no articles in big newspapers, seems legit to me.

[jackbox]

Well i tweeted back to him about releasing something substantial asap, or why wait, what for.

This is my issue with Gawminer, always a wait for good news. But they really need to be more transparent of they are legit, otherwise why need for waiting to show something. Even just financial proof they collected funds for ICO. That is not too much to ask for at this point, now after hashstaker has been sold to many people.

I keep saying on fence with Gaw, but these constant delays in announcements or showing something of financial transparency is not acceptable. Wait a week he say, WHY??

What is the reason for that? Stall for more hashstaker sales? Creating marketing hype? I just think releasing full facts that phase 1 has been sold to real investors and was as good as he said at this point would just create more people buying hashlets as they would know it's totally legit as far as ICO is concerned.

SOOOO, why would you wait for this release?


https://twitter.com/gawceo/status/538247762396327936

The announcements are hype to get the lemmings excited and forget about the previous bogus announcements. They red herrings to make people forget about all the previous promises that never came true. It will be announcement after announcement with nothing real.

Well maybe so, but honestly if it was a scam, he's not gonna be able to walk away. So what would be motive. Everyone knows who he is, he's taken USD $$ and also has a company registered in USA. Not easy to walk away from here in states.

It is a gray area. Because he it calling it crypto coin mining it is quite possible there are no criminal laws covering it. When I was a teenager personal computers did not exist yet. People were committing computer crimes like hacking into banks and stealing money and there was nothing criminally they could do to prosecute. Took them a while for the law to catch up with technology. Could be same issue is at play here. No crimes committed because no laws apply to crypto currency mining. Not sure, but just a thought.

[Just Magicmann]

After eighteen days, I've made eleven cents off a 1Mh/s ZenMiner.

Congrats! You are a Zen Master Miner. 

I know, right? I almost made an entire penny a day after their absurd fees!

After eighteen days, I've made eleven cents off a 1Mh/s ZenMiner.

and how much did that 11cents cost you?

Nothing. I got the miner for free in a contest.

[suchmoon]

This is a weird one. I thought only PayCoin has the magic thermonuclear staking abilities. Or maybe "HasTaker" is something else  

https://twitter.com/gawceo/status/538546092762480640

Any interest in us adding another Hastaker for another pos coin one day?

[raskul]

i say we just develop another hashstaker coin and let Josh spend a fortune on legal fees getting us to kill it.
i'd mine it. 

[jackbox]

i say we just develop another hashstaker coin and let Josh spend a fortune on legal fees getting us to kill it.
i'd mine it. 

Why not? There is already another PayCoin (PYC) that they are stomping all over.

[jackbox]

This is a weird one. I thought only PayCoin has the magic thermonuclear staking abilities. Or maybe "HasTaker" is something else  

https://twitter.com/gawceo/status/538546092762480640

Any interest in us adding another Hastaker for another pos coin one day?

It is "HasTaker" not "HashStaker." You put other POS coins in and Josh Has Taker them away! :-D