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

[vabchgent]

I will say this Josh was a honest man with a honest company at one time where that changed I don't know. I believe its where the pools crashed and Paycoin started. I only have a minimum investment in GAW left. I have some HP that I can hopefully cash out some time this month. First flag was the Zen pool diminishing in a week. I stuck with it  - was waiting till tomorrow to see if I could cash out some HP. GAW moved it out another week. I think we can all see the pattern here. If Josh does a inner look-goes back to being honest and sets the pools straight. I would go back but it does not look like that is ever going to happen. GAW lost the main point - Deal with your customers as you would deal with God.    

[suchmoon]

I'm amazed by this:

What we did not know at the time of the announcement about not pre-mining, was that we just got word that multiple large mining farms intended to mine the coin at inception as well. Some of them shared our Paycoin vision, some did not.

So they didn't realize that there is 300 PH/s of SHA256 hardware to compete with? How did they expect this to happen then?

Sounds like a pre-announcement of a major backpedaling. There are some other pitfalls with PayCoin mining, like being able to see GAW's real SHA256 hashrate if the blockchain is truly public. Expect some adjustments to the plan.

[MinermanNC]

I just don't see paycoin evolving into something bigger or better than bitcoin. Right now its all in theory and speculation and a lot of great salesmanship on Josh's part. At the end of the day I feel its just another new coin launch based on a nifty cloud hashing service with cute little names for its packages, hashlets
etc.. lol and a lot of hocus pocus. was hashcoin? now paycoin? wide acceptance in the market place? where, who, what when and how? BTC is widely excepted by a lot of big players... so I don't see the whole point here or am I missing something lol. Remember blackcoin? complete with debit cards, staking and even was added to coinkite, so how is all that doing? Then I read 8% of income from paycoin will go back into development and implementation and training? wow big plans lol. Ill say this This Josh fellow is pretty smooth, very smart too! Making a hell of a lot more than I

Give me 60 MH of scrypt power and a few good p2pools and I know I will earn more that way then from the massive multipool at GAW. got to give them credit though,,, 1 million in sales in 24 hrs. on hashlets, amazing. I just wonder how much the real ROI is when compared to that for miners. I am still studying all this, but just don't see it giving the mining community anymore in return for their investment then BTC. Before I would spend a thousand bucks on a package with Gaw I may as well just buy some BTC and wait for it to go up lol

I am sure with GAW it has brought in many who would have never mined anything if it wasn't made so easy and accessible for them, so GAW has done well at that and marketing themselves.

(prediction, some will make good money off of paycoin and some wont, but it will never come close to out performing BTC in anyway)  

[suchmoon]

Clear as mud:

https://hashtalk.org/topic/20701

GAW_CEO
Admins
Global Moderator
Industry Innovator


Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

Hahahahaha sometimes I can't believe the stupid shit that comes out of this guys mouth 

Look at the sentence preceeding it:

While the majority of the technical community has commended us for the innovations behind Paycoin, we have had constructively critical feedback as well. Chief among the issues raised were “not enough innovation” and Paycoin’s centralized nature.
Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

So was it "not enough innovation" or ... ?

[TheIZS]

Clear as mud:

https://hashtalk.org/topic/20701

GAW_CEO
Admins
Global Moderator
Industry Innovator

Paycoin POW Explanation

Greetings!

Given all the confusion in the forums regarding the Proof of Work phase of Paycoin, I thought I’d post tonight to clear it all up. Additionally, I want to explain how things have played out so you know where we are tonight.

As you are well aware, Paycoin started life in the first draft as a PoW coin that could be minable by anyone, anywhere. Through the comment period of the first draft, it became clear to us that we needed to reconsider some of the design decisions.

We received excellent feedback from this community and from both our partners and our merchants. We decided that we needed to slow down the initial number of coins mined at inception, as well as do a better job of producing more coins as the adoption of Paycoin expands.

Flooding the market with coins that aren’t immediately staked or used creates a lag in the marketplace -- too much supply for demand, and the potential for devaluation.
We believe this is the primary contributor to the volatility of BTC and the reason why mass adoption has not been possible.

Paycoin will not suffer the same fate.

Naturally, Paycoin needs to have a way to increase production when the demand exists. Instead of working with the available technology-to-business model, we decided to work back in the other direction to make the technology suit the business case.

We knew once we had a model that would work, we could wrap the technology around it to make it happen. This is how we created the Paycoin that you know today.

Community Speaks -- We Listen and Act.
While the majority of the technical community has commended us for the innovations behind Paycoin, we have had constructively critical feedback as well. Chief among the issues raised were “not enough innovation” and Paycoin’s centralized nature.
Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

We shopped the project around the world, and virtually every development team told us it was technically impossible to build.
Through perseverance, however, we found a group that was up to the challenge. Many things had to be invented to make it possible, and those inventions were not without a monumental cost to build.

Regarding centralization, there is a risk of centralization with all crypto coins.

Paycoin’s hybrid mining model takes advantage of large investors, (Market Makers,) who are motivated to create a successful market for the coin.

The bidding process for Prime Controllers also ensures that there will be entry points at regular periods of time for new investors and Market Makers to take responsibility for transaction processing; thus, allowing up to 100% decentralization as time passes. It’s the large investors and Market Makers who will help create the markets for Paycoin to ultimately be successful.

It’s this commitment that will bring success down to the level of the individual miners. Paycoin is truly unique that way.

Once the design of the coin was finished, we took a step back and said,

"Let’s set an example for all other coins by not pre-mining. We have the hashing power to mine it ourselves, and we’ll compete for the coins."

We felt we would end up with the same amount of coins we intended to own, but we also felt that following that principle was equally as important.

What we did not know at the time of the announcement about not pre-mining, was that we just got word that multiple large mining farms intended to mine the coin at inception as well. Some of them shared our Paycoin vision, some did not.

Despite this information coming to our attention, we decided that we would continue to allow Paycoin to be minable, and we would even compete for our own allocation by mining. At the same time, we would reserve enough coins so that all the customers who had already earned them with HashPoints would get their allocation in full, prior to public mining.

In summary:
We felt we needed to mine our own coins, but reserved the coins that already belonged to our customers and investors.

As of today, this will cover the customer/investor reserve, but we will increase the reserve to keep up with customer and investor demand. We will prioritize customers and investors over public miners and our own allocation.

Half of the initial coins will be going to HashPoint customers, and the other half will be publicly minable. The public mining period will end once all the minable coins have been awarded.

Once all the coins have been mined, Paycoin switches to PoS and stays that way going forward.
Finally, I’d like to address this question, "Will Hashlets be able to participate in the PoW stage?"
The answer here is complicated by the fact that, as I mentioned before, many large mining operations are planning to mine Paycoin.

In order to ensure that our customers have the best advantage at launch, I made the decision to extend HashPool mining, which gives our customers a 4:1 advantage over traditional mining -- ensuring the best possible profitability and as quick an ROI as possible on both Zens and Primes.

In summary, after running our mining simulations, and given the expected hashrate, we will have and the resulting difficulty in the PoW stage, non-institutional miners will not be profitable at the level we want for our customers. Despite that, we are still trying to figure out a way to allow Hashlets, (at least Primes,) to participate.

I hope this clears up some of the confusion around the POW stage. We will let you know when the next phase starts. We will also let you know how Hashlets will participate. As always, we will do what's in the best interest of our customers!

So this is schrodinger's coin? GAW both has enough in reserve to keep all hashpoint holders happy and will not pre-mine at all to be so honest? Ouch, quantum coins make my head hurt. I'm not even going to think about the millions in investor reserve coins.

[corygto]

Clear as mud:

https://hashtalk.org/topic/20701

GAW_CEO
Admins
Global Moderator
Industry Innovator


Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

Hahahahaha sometimes I can't believe the stupid shit that comes out of this guys mouth 

Look at the sentence preceeding it:

While the majority of the technical community has commended us for the innovations behind Paycoin, we have had constructively critical feedback as well. Chief among the issues raised were “not enough innovation” and Paycoin’s centralized nature.
Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

So was it "not enough innovation" or ... ?

The guy is a one-man shit show 

[blacklizard]

What the fuck did you just fucking say about me, you little bitch? I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces. You are nothing to me but just another target. I will wipe you the fuck out with precision the likes of which has never been seen before on this Earth, mark my fucking words. You think you can get away with saying that shit to me over the Internet? Think again, fucker. As we speak I am contacting my secret network of spies across the USA and your IP is being traced right now so you better prepare for the storm, maggot. The storm that wipes out the pathetic little thing you call your life. You’re fucking dead, kid. I can be anywhere, anytime, and I can kill you in over seven hundred ways, and that’s just with my bare hands. Not only am I extensively trained in unarmed combat, but I have access to the entire arsenal of the United States Marine Corps and I will use it to its full extent to wipe your miserable ass off the face of the continent, you little shit. If only you could have known what unholy retribution your little “clever” comment was about to bring down upon you, maybe you would have held your fucking tongue. But you couldn’t, you didn’t, and now you’re paying the price, you goddamn idiot. I will shit fury all over you and you will drown in it. You’re fucking dead, kiddo.

If you were a Seal then you Sir a disgrace... you're full of shit. semper paratus

[corygto]

Wow, these GAW cheerleaders are actually lining up to throw money at Josh for GAW T-Shirts and other useless crap.

That just goes to show how badly they are all drowning in the Kool-Aid over at HT 

[suchmoon]

Wow, these GAW cheerleaders are actually lining up to throw money at Josh for GAW T-Shirts and other useless crap.

That just goes to show how badly they are all drowning in the Kool-Aid over at HT 

They get a Legendary picture for the first 100 orders. You can then sell that off in the Market for $50+. I would guess that is a big part of the motivation here.

[MinermanNC]

Wow, these GAW cheerleaders are actually lining up to throw money at Josh for GAW T-Shirts and other useless crap.

That just goes to show how badly they are all drowning in the Kool-Aid over at HT 

lol I need to go check all that out, HT, I just started reading their thread 2 nights ago, I was like "ahhh you don't say" wow amazing they were like all creaming their jeans over all this hype. What ever floats their boat I guess lol Big Kool-Aid party as you said 

[MinermanNC]

Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

It strikes me as one mans fantasy about his own coin concept. Its ok to have a vision but this sounds a bit fanatical.

[T0urist]

Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi sued too, was the scam legit? It doesn't mean shit....

Ponzi's rapid rise naturally drew suspicion. When a Boston financial writer suggested there was no way Ponzi could legally deliver such high returns in a short period of time, Ponzi sued for libel and won $500,000 in damages.

The main difference is that he was really scamming people and it was proven beyound doubt. I have not seen anybody prove GAW is a scam, in fact a large number of people, who say GAW looks suspicious, made money with them.

Duh it isnt proven yet because he gives no proof what he is doing is legit. Tell me is he actually even mining? Or does he have a console where he changes the pool amounts on the rates page? Lack of proof isnt through not trying. He has been countless times asked to prove with hard evidence. All these acqusations would disappear if he did that. So why is it so hard for him to do that? His customers should be reassured right. Arent you even a little bit curious to see some proof?

Lack of proof and dodging questions indicates they have something to hide.

Funny how they have time to release hashstore clothing but not show more of what the company does. Josh stated they have btc reserves to double pay pool values. They havent though...... why?

[Unacceptable]

What the fuck did you just fucking say about me, you little bitch? I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces. You are nothing to me but just another target. I will wipe you the fuck out with precision the likes of which has never been seen before on this Earth, mark my fucking words. You think you can get away with saying that shit to me over the Internet? Think again, fucker. As we speak I am contacting my secret network of spies across the USA and your IP is being traced right now so you better prepare for the storm, maggot. The storm that wipes out the pathetic little thing you call your life. You’re fucking dead, kid. I can be anywhere, anytime, and I can kill you in over seven hundred ways, and that’s just with my bare hands. Not only am I extensively trained in unarmed combat, but I have access to the entire arsenal of the United States Marine Corps and I will use it to its full extent to wipe your miserable ass off the face of the continent, you little shit. If only you could have known what unholy retribution your little “clever” comment was about to bring down upon you, maybe you would have held your fucking tongue. But you couldn’t, you didn’t, and now you’re paying the price, you goddamn idiot. I will shit fury all over you and you will drown in it. You’re fucking dead, kiddo.

If you were a Seal then you Sir a disgrace... you're full of shit. semper paratus

Exactly,a true Seal would NEVER say he was one IRL or in cyberspace 

[welchy8764]

Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

It strikes me as one mans fantasy about his own coin concept. Its ok to have a vision but this sounds a bit fanatical.

That statement points out that

1. No devs are involved
2. Paycoin is a pipe dream
3- You really believe someone who makes  a statement like that?

Its unbelievable that his cult is still drinking his koolaide..

[clanbake]

Clear as mud:

https://hashtalk.org/topic/20701

GAW_CEO
Admins
Global Moderator
Industry Innovator


Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

Hahahahaha sometimes I can't believe the stupid shit that comes out of this guys mouth 

I think our little Josh CEO kid has simply lost it.

[bitcoinnoisseur]

Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

We shopped the project around the world, and virtually every development team told us it was technically impossible to build.
Through perseverance, however, we found a group that was up to the challenge. Many things had to be invented to make it possible, and those inventions were not without a monumental cost to build.


Beyond the powers? Really? Sounds like hes reading a fairy-tale to all the kiddies after spiked milk and cookies.

What I find most disturbing is that it was so advanced that most said it was impossible YET they somehow did it in about a month or two BUT it all had to be read by and edited by his own damn customers. Who the fuck does he think he's kidding? All these people on HT that actually did contribute, have to be saying WTF? No one knows what the hell Paycoin is because it isn't. It's in a perpetual state of change being edited by who knows at the request of customers. He needs to be stopped before he bankrupts anyone. This is something that some people will not recover from.

[jackbox]

Paycoin is so advanced, it was beyond the powers of nearly every developer we talked to about it.

We shopped the project around the world, and virtually every development team told us it was technically impossible to build.
Through perseverance, however, we found a group that was up to the challenge. Many things had to be invented to make it possible, and those inventions were not without a monumental cost to build.


Beyond the powers? Really? Sounds like hes reading a fairy-tale to all the kiddies after spiked milk and cookies.

What I find most disturbing is that it was so advanced that most said it was impossible YET they somehow did it in about a month or two BUT it all had to be read by and edited by his own damn customers. Who the fuck does he think he's kidding? All these people on HT that actually did contribute, have to be saying WTF? No one knows what the hell Paycoin is because it isn't. It's in a perpetual state of change being edited by who knows at the request of customers. He needs to be stopped before he bankrupts anyone. This is something that some people will not recover from.

You, of course, are quite correct. As I have said before, unfortunately there will be some suicides before this fiasco is all done and sorted out. It will hurt the credibility of crypto coins in the eyes of the general public also; as when this is done and over it will be a big news story how this GAW company scammed so many people out of their life savings and retirement funds. People even mortgaged their houses to buy his CashTakers.

[kupan787]

Just in case there was any doubt...

https://hashtalk.org/topic/20681/hashlet-primes

What would you all like to see happen next?

(To those who say I use customer feedback to create ideas, that’s exactly what what I do. )

But seriously, I have had a plan in mind for a while and I think it still provides the greatest upside, but I always like hearing your suggestions before it’s set in stone.

But seriously, I have sold investors in on my plan (to the tune of $100 million). But since nothing is set in stone I can and will change the whole thing up based on the feedback I get from my herd friends here.

But seriously, even though I have a plan in mind that I can't share with you, I need ideas, cause...umm...this whole thing is heading towards tits up if i can't string something else together.

5 BTC? Is that enough?

[corygto]

Just in case there was any doubt...

https://hashtalk.org/topic/20681/hashlet-primes

What would you all like to see happen next?

(To those who say I use customer feedback to create ideas, that’s exactly what what I do. )

But seriously, I have had a plan in mind for a while and I think it still provides the greatest upside, but I always like hearing your suggestions before it’s set in stone.

But seriously, I have sold investors in on my plan (to the tune of $100 million). But since nothing is set in stone I can and will change the whole thing up based on the feedback I get from my herd friends here.

But seriously, even though I have a plan in mind that I can't share with you, I need ideas, cause...umm...this whole thing is heading towards tits up if i can't string something else together.

5 BTC? Is that enough?

Yeah I think he's really just flying by the seat of his pants right now.

[bitcoinnoisseur]

https://hashtalk.org/topic/20694/hashgear-launches/460