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

[suchmoon]

The cost will be minimal. It is going to use already existing payment platforms. If a business accepts BTC the will be able to accept PC. The new coin will be able to loaded onto a debit card and used in existing card readers. the benefit to a company is huge...fees in the pennies instead of 2-3% of the transaction. When the bean counters figure out to accept the coin will reduce the fees to accept CC payments what do  you think will happen? 2-3% to a tier 1 major retailer is a lot of money.

You're contradicting yourself here a bit. If it's a debit card then the retailer won't see any savings. The bank and Visa/MC will take the same 1-3% they always take, with some crumbs possibly ending up in GAW's pocket. If it's direct crypto payment with "fees in the pennies" then it fails to explain where the huge profits a going to come from. Best case scenario would be for crypto payments to have a reasonable fee, e.g. 0.5-1% with no minimum (to facilitate micro payments, which fail miserably with CCs). Also don't forget that consumers and regulators will expect the same levels of consumer protection, that are currently funded by credit card fees.

[RiverBoatBTC]

These greedy bastards are building wallstreet type activity into a coin...

I will comment further as I investigate but from what I see at this point

GAW will


Sell you a the land to mine on the shovels and picks to do it with the only thing you need provide is? money?


Edit: and they let someone else set your rate of return?

So this sets whales up for a great advantage to set the stake rates or did I miss something?

[I_IZ_CEO]

Scott,

Some questions here what does US customs check when they import electronics equipment? FCC compliance right? So how do you think those items you said GAW purchased came through customs?

They weren't checked, when Josh lived in Texas his cousin Chico delivered them across the border.

[welchy8764]

Does this guy know what he is talking about? From this post on HT

https://hashtalk.org/topic/15099/i-think-i-figured-out-josh-s-plan

So lets say you're a big retailer, take Amazon for example. Sure, they could accept bitcoin, it's just software. But they wont, because your investment can go down as well as up. Amazon are not going to sell things for a currency that could be worthless tomorrow. Bitcoin has value right now, but tomorrow the price could fall to pennies and never come back up. This is true of all investments, not just bitcoin

Its my understanding that company's like newegg, overstock.com etc. are hosted by company's like coinbase etc. and transactions are managed and converted to fiat for the seller instantly at current BTC value, thus there is no risk for seller, coinbase excepts all the risk of BTC "falling to pennies" as he says in his HT post. lol So I guess his assumption is wrong or he is just uninformed. The retailer holds no BTC    

He needs to do his homework a little more.

Yes and no.  The point is that these companies are simply dumping for fiat, as you say instead of holding the crypto.  Insta dumping hurts the value.

GAW's vision is to create a stable coin so these companies won't immediately dump.  It's going to take time to get companies on board with this.

A company will never hold crypto. It doesn't matter if it's bitcoin or paycoin. Crypto will always be too volatile compared to FIAT, no matter how much you try to financially back it. A free market is a free market, you cannot control the price of a coin forever. In this sense, paycoin will never truly be useful at all. Bitcoin already does a fine job of being used for transactions because of payment processors like Coinbase.

GAW is trying to fix something that isn't broken.

I'm sorry but it absolutely will not catch on anywhere besides the inner circle of Hashtalk.

I'm in agreement the financial cost alone to switch to any other type of currency that can't be immediately converted to fiat would sway them away. Main street will never switch, Thats a given.. The biggest question is WHY? Why switch? what benefit out weighs the current system. For the individual there are benefits for company's their are no benefits

The cost will be minimal. It is going to use already existing payment platforms. If a business accepts BTC the will be able to accept PC. The new coin will be able to loaded onto a debit card and used in existing card readers. the benefit to a company is huge...fees in the pennies instead of 2-3% of the transaction. When the bean counters figure out to accept the coin will reduce the fees to accept CC payments what do  you think will happen? 2-3% to a tier 1 major retailer is a lot of money.

Thats all fine but at some point the coin needs to be converted back to fiat. That is where the problem lays. This conversion process will be a variable most companies will chose to stay away from.

[KC6TTR]

So this is nothing more than a personal vendatta?

I wouldn't say that and I am not sure why you would conclude that.

Scott-

[suchmoon]

Looks like word twisting to me...he said "where BTC has failed" and you know there is a specific meaning to that statement and I never seen him say its not viable. Keep painting with that broad brush

Maybe then he should send some poorly worded legal threats to this website too:

http://www.mintpressnews.com/bitcoin-hype-spent-whats-next/199214/

“I don’t believe that the bitcoin has a chance to be a viable currency,” said Josh Garza, chief executive of GAW Miners, a cryptocurrency mining equipment retailer and consultancy. “One of the big confusions behind the bitcoin is that the great thing about the bitcoin is not the brand or the coin itself, but the technology behind it. It’s the blockchain that makes bitcoins great.

“There will never be a time that a normal consumer will be okay logging into their bank account and seeing a different amount in their account than the day before without spending any money. The viability of the bitcoin will never make the virtual currency palatable to the average American, when other platforms, such as PayPal, offers what bitcoins offer without the value fluctuations. Once the hype dissipates, the impracticality of the bitcoin will doom the cryptocurrency. But the blockchain will remain; it’s the future of how value will be recorded and shared.”

[wdl1908]

but they have not threatened

So this is nothing more than a personal vendatta?

I wouldn't say that and I am not sure why you would conclude that.

Scott-

[suchmoon]

Josh has not bad mouthed BTC

Why are you even covering for his gaffes? I understand you like PayCoin's promises, fair enough. Admitting that the leader is prone to running his mouth would actually give you guys more credibility, I'm surprised that you don't see it. Blindly defending even the most outrageous statements is one of the reasons for this deepening rift between PayCoin proponents and opponents. Not that there aren't any other issues mind you.

LOL

How many hashlets you sold on hashmarket by mistake? Or how much anyone pays you to flood people minds with distrust?

Do you have anything to say on topic or just came here to prove how bad bitcointalk is by launching ad hominems at people you disagree with?

[KC6TTR]

Scott,

Some questions here what does US customs check when they import electronics equipment? FCC compliance right? So how do you think those items you said GAW purchased came through customs?

Well, one of the main items US Customs looks for is FCC Form 740. A copy of it is here: http://transition.fcc.gov/Forms/Form740/740.pdf

However, I cannot speak to how thousands of miners got through Customs without the form or similar declaration (there is no evidence #2 on the form would be applicable). Your guess is as good as mine. All I do know at this time is there is no FCC hardware ID for GAW/Zen and no FCC ID for any off the manufacturers who supplied GAW/Zen. Of course, I welcome anyone to prove otherwise.
 
Scott-

[wdl1908]

Scott,

Some questions here what does US customs check when they import electronics equipment? FCC compliance right? So how do you think those items you said GAW purchased came through customs?

Well, one of the main items US Customs looks for is FCC Form 740. A copy of it is here: http://transition.fcc.gov/Forms/Form740/740.pdf

However, I cannot speak to how thousands of miners got through Customs without the form or similar declaration. Your guess is as good as mine. All I do know at this time is there is no FCC hardware ID for GAW/Zen and no FCC ID for any off the manufacturers who supplied GAW/Zen. Of course, I welcome anyone to prove otherwise.
 
Scott-

What specific hardware are you talking about?

[KC6TTR]

Scott,

Some questions here what does US customs check when they import electronics equipment? FCC compliance right? So how do you think those items you said GAW purchased came through customs?

Well, one of the main items US Customs looks for is FCC Form 740. A copy of it is here: http://transition.fcc.gov/Forms/Form740/740.pdf

However, I cannot speak to how thousands of miners got through Customs without the form or similar declaration. Your guess is as good as mine. All I do know at this time is there is no FCC hardware ID for GAW/Zen and no FCC ID for any off the manufacturers who supplied GAW/Zen. Of course, I welcome anyone to prove otherwise.
 
Scott-

What specific hardware are you talking about?

Primarily, any Zeus and other hardware rebranded with the GAW Miners trade name.

Scott-

[suchmoon]

Scott,

Some questions here what does US customs check when they import electronics equipment? FCC compliance right? So how do you think those items you said GAW purchased came through customs?

Well, one of the main items US Customs looks for is FCC Form 740. A copy of it is here: http://transition.fcc.gov/Forms/Form740/740.pdf

However, I cannot speak to how thousands of miners got through Customs without the form or similar declaration. Your guess is as good as mine. All I do know at this time is there is no FCC hardware ID for GAW/Zen and no FCC ID for any off the manufacturers who supplied GAW/Zen. Of course, I welcome anyone to prove otherwise.
 
Scott-

I don't believe customs will open each and every package and a lot of GAW hardware was drop-shipped to individual customers by e.g. Zeus declared as "heatsinks" and such. I'm not saying that's how they got around FCC, just an observation about how some Chinese manufacturers are shipping their mining hardware.

[KC6TTR]

Scott,

Some questions here what does US customs check when they import electronics equipment? FCC compliance right? So how do you think those items you said GAW purchased came through customs?

Well, one of the main items US Customs looks for is FCC Form 740. A copy of it is here: http://transition.fcc.gov/Forms/Form740/740.pdf

However, I cannot speak to how thousands of miners got through Customs without the form or similar declaration. Your guess is as good as mine. All I do know at this time is there is no FCC hardware ID for GAW/Zen and no FCC ID for any off the manufacturers who supplied GAW/Zen. Of course, I welcome anyone to prove otherwise.
 
Scott-

I don't believe customs will open each and every package and a lot of GAW hardware was drop-shipped to individual customers by e.g. Zeus declared as "heatsinks" and such. I'm not saying that's how they got around FCC, just an observation about how some Chinese manufacturers are shipping their mining hardware.

True...and as I said, it is not the responsibility of the end user to know specifics the OEM and/or distributor should.

Scott-

[AtomicFrost]

https://hashtalk.org/topic/21195/hashlet-upgrades

TLDR: Mining is dead! Long live POS . . . .

Expect ZenPool payouts to collapse again soon.

[RiverBoatBTC]

https://hashtalk.org/topic/21195/hashlet-upgrades

TLDR: Mining is dead! Long live POS . . . .

AKA wallstreet people with deep pockets once again... get to see gains

[MinermanNC]

y'all watching lol

https://www.youtube.com/watch?v=Bs5BFSvzBPU&utm_source=Newsletter+List&utm_campaign=c20d779641-3rd-qa-tonight&utm_medium=email&utm_term=0_ec90950adf-c20d779641-146078825&mc_cid=c20d779641&mc_eid=be1f346751

PS: Its a re-run I believe now lol

[bitcoinnoisseur]

https://hashtalk.org/topic/21195/hashlet-upgrades

TLDR: Mining is dead! Long live POS . . . .

Expect ZenPool payouts to collapse again soon.

sgtdrillhole
@GAW_CEO woo! I can't wait to stake for an eternity, I will pass my primes onto my children
(Time to buy all of the multihashlets!)

[MinermanNC]

I think the biggest problem is, its all about GAW... total control, your either in through there hardware and system of mining (and pre approved on HT) ,, well, and that's that... that's the problem for me anyways. Still not sure I understand the full scope, but I still feel its an attempt to create a better bitcoin, minus bitcoin lol

And its all so easy, and so much fun keeping up with all the changes almost every few days.... seems to complicated 

[bitcoinnoisseur]

Looks like it's time for all these geniuses to show off there "skill-based trading" now that they have so many absurd ways to "upgrade". All I see is the continuance of no BTC being paid out and more money to fuel the ponzi with prices being pumped and cashtakers on the market so they can collect their 10% on every sale.

[vabchgent]

I really don't know where Josh was going with his announcements tonight. If someone could go over to HT and read all the stuff I am reading. Think I am glad I got out when I did. No one is answering if GAW is out of traditional mining but it sure looks like it. Noticed nothing was mentioned about December the 8th to Cash HP to Paycoin. If someone still vested would have a look and let me know if I am missing something.