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

[Paul Revere]

Good non-answer. I have already read about 1,000 of those, however.

I am looking for a simple answer to this question: Is GAW going to do a $20 per Paycoin buyback?

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[dekay2wasban]

Good non-answer. I have already read about 1,000 of those, however.

I am looking for a simple answer to this question: Is GAW going to do a $20 per Paycoin buyback?

okay hows this sound friday gaw runs off with all customer money and closes shop

[truth_]

Good non-answer. I have already read about 1,000 of those, however.

I am looking for a simple answer to this question: Is GAW going to do a $20 per Paycoin buyback?

Nobody knows for sure yet.  GAW is doing everything they can to not answer that question in a straightforward manner.
What does that tell you?

[Puppet]

just stumbled across this...
it's astounding the amount of money that people are just flippantly throwing away on this altcoin.

 12.75BTC for less than one day rental of 150TH/s?

deary me that right there is some kind of insanely blind belief.  

Trying to do the math, I just found this paycoin mining calculator:
http://www.coinwarz.com/calculators/paycoin-mining-calculator/

If that is correct,  it appears hugely profitable atm, not sure if Im missing something?
Not profitable enough to warrant the 13 BTC, but mining 6.5 BTC worth of scamcoin per day aint bad at all for 150 TH.
Mining bitcoin its just 1.9 BTC.

[suchmoon]

What is the straight scoop on the Paycoin buyback? I have read places that when Paybase comes online (Monday?) they will be pumping cash (said to be $100 Million) into the coin via a buyback of the coins mined this week @ $20 each. Is this really going to happen? I have tried reading through the imbecilic rubbish on the Hashtalk site and can not find a definitive answer to this simple question.  I know there must be an answer to this somewhere in the 300+ pages of this thread, but after an hour I have given up on ever finding that needle in the haystack. Help me out here, please.

Also, some thoughts: The whole marketing spiel of Paycoin makes me ill.
"The People's Coin"?? Give me a break, did Karl Marx come back to life get a job as marketing director with GAW?  Then it says "Bank's Hate Paycoin"  When you start reading their hype they brag about being backed by "major financial institutions" (these are called BANKS folks), so apparently banks actually LOVE Paycoin. Then the deal about having to use GAW equipment to be able to be a miner after this week is over- why not just call it GAW coin?? Especially since the name PAYcoin was already taken.

I think you're kind of answering your own question. Look at coin-swap.net, the coin is trading at ~$9, so that shows how much belief there is in the $20 buyback. There is no official commitment, just some hints that the coin will "start" at $20, can be "used", will be "stabilized" etc. Add to that the not-so-subtle pumping by chief mod PCfan and you'll start getting the picture:

https://hashtalk.org/topic/23777/when-will-we-be-able-to-sell-paycoin-for-20-is-there-a-set-date/7

[suchmoon]

458btc that 50btc is being destroyed 19btc remains

LOL 23 Bitcoin sell chunk so quickly. No doubt that guy is still mining

I am still mining XPY too, just selling off enough XPY to make up for lost revenue I would have had on BTC.   I am beginning to think Josh may really think he is Santa Clause and he is going to use that 25,000 BTC wallet he showed off to WSJ to allow us to use XPY for $20 each on his silly Paybase/plugin.   

Just to clarify, that wallet showed 25k (by now more than 30k) "flowing" through it. There is not much in it.

[Paul Revere]

Thanks for the answers, that is what I had pretty much summed up myself. I guess the question is whether to try to be one of the guys who gets a $20 buyback before the show money runs out and they slam the doors shut on the buyback window. I have been renting out my rigs these past days to the "believers" and was just wondering if maybe I was missing something and should mine some of this latest greatest scamcoin myself. Multicoin pool is showing about a 10 XPY/day potential for my 1.8 Th, and at the current going rate of $9 would  = $90, which is right about what some fools are paying me to mine today.

[jackbox]

Good non-answer. I have already read about 1,000 of those, however.

I am looking for a simple answer to this question: Is GAW going to do a $20 per Paycoin buyback?

Simple answer is - God knows.
He changes what he say's from day to day. The last wording I saw was you'll be able to USE paycoin via a chrome extension for $20 buying power at Amazon and some other US based retailers. Good luck with that if you're one of the other 95% of the population.
Whether he'll set up the supposed 'floor' at $20 dollars in any ones guess. He went from will through to try recently.  
He has a history of using 'market prices' to justify lowering expected prices. Paycoin currently being traded https://coin-swap.net/market/XPY/BTC
Go back through this thread and just read the OP 'suchmoon's posts should give you a broad feel. He has a fairly balanced view.

(And if you get the answer come back and tell us)

My guess is, unless you dormant your coins in a CashTaker, they will probably say they are in cold storage for your protection and withdrawals are on hold until they can thaw the coins out.  

[raskul]

just stumbled across this...
it's astounding the amount of money that people are just flippantly throwing away on this altcoin.

 12.75BTC for less than one day rental of 150TH/s?

deary me that right there is some kind of insanely blind belief.  

Trying to do the math, I just found this paycoin mining calculator:
http://www.coinwarz.com/calculators/paycoin-mining-calculator/

If that is correct,  it appears hugely profitable atm, not sure if Im missing something?
Not profitable enough to warrant the 13 BTC, but mining 6.5 BTC worth of scamcoin per day aint bad at all for 150 TH.
Mining bitcoin its just 1.9 BTC.

i'm sure that there is no doubt that there is profit for those who are mining, as long as they are swapping it straight to BTC on the toy exchanges.
But there is not a single honest and real assurance made by GAW that it will be worth holding onto. Hence why i'm playing safe and just renting out my rigs for all the BTC I can muster while this phenomenon lasts.

i made a guide to help others do the same: https://bitcointalk.org/index.php?topic=894826.msg9849580#msg9849580

[Puppet]

i'm sure that there is no doubt that there is profit for those who are mining, as long as they are swapping it straight to BTC on the toy exchanges.
But there is not a single honest and real assurance made by GAW that it will be worth holding onto. Hence why i'm playing safe and just renting out my rigs for all the BTC I can muster while this phenomenon lasts.

Certainly a smart move on your part. But Im just curious what the catch is for miners (if there isnt one, the network would be much faster by now). Does it have something to do with the proof of stake, or how long it takes for these things to mature?

[jackbox]

i'm sure that there is no doubt that there is profit for those who are mining, as long as they are swapping it straight to BTC on the toy exchanges.
But there is not a single honest and real assurance made by GAW that it will be worth holding onto. Hence why i'm playing safe and just renting out my rigs for all the BTC I can muster while this phenomenon lasts.

Certainly a smart move on your part. But Im just curious what the catch is for miners (if there isnt one, the network would be much faster by now). Does it have something to do with the proof of stake, or how long it takes for these things to mature?

Minted coins take 120 blocks to mature. I mined some before my rig got rented out. Sold it all on coin swap. Don't trust GAW/Josh for anything. Took what I could get. Renting income is very good at the moment. 

[raskul]

i'm sure that there is no doubt that there is profit for those who are mining, as long as they are swapping it straight to BTC on the toy exchanges.
But there is not a single honest and real assurance made by GAW that it will be worth holding onto. Hence why i'm playing safe and just renting out my rigs for all the BTC I can muster while this phenomenon lasts.

Certainly a smart move on your part. But Im just curious what the catch is for miners (if there isnt one, the network would be much faster by now). Does it have something to do with the proof of stake, or how long it takes for these things to mature?

Speaking purely from a personal standpoint. I just try not to have anything to do with any altcoin whatsoever.
It may well be the case that Paycoin will, by some miraculous marketing ploy, overtake Bitcoin for a period of time. I think this is the intent judging by some of the comments which Garza has made.
Even in that scenario, personally, i'd still be content to concentrate on BTC.
Regarding the 'catch' I am pretty sure there is a locked-in period for staking on hardware which the Paycoin investor is forced to purchase and can only be obtained via GAW (clarification needed)... however, staking in itself only serves to dilute the coin, and diluting the coin, in turn dilutes the value.
If I has being optimistic about Paycoin, i'd say, yes in the short term it is very possible that the value could indeed rise to some giddy height, but it will be very short lived and for that reason, it's a novelty which I wouldn't wish to get involved in.
I prefer a cautious approach to my investments and yes, the 'locked-in' part of the whole staking process just puts me off entirely.

[gefafwisp]

Minted coins take 120 blocks to mature. I mined some before my rig got rented out. Sold it all on coin swap. Don't trust GAW/Josh for anything. Took what I could get. Renting income is very good at the moment. 

Good of you to support the Paycoin economy

[gefafwisp]

gaw is a scam

Has GAW been proven to be a scam?

[MinermanNC]

Good morning, well it appears the natural drop in price has begun. How far it will drop? who knows. But it  follows most other average newly launched shit coins... the thrill is gone now and people will be looking to unload quickly. Seen it over and over again on bittrex with all the other pump and dump new shit/alts. Time will tell but thus far it is following the exact same trends in basically the same amount of time. I look for more unbelievable messages from Josh in an attempt to hype up all the wonderful things yet to come in an effort to maintain or pump up price, but probably won't have that much effect anymore. I think people are wising up.  

Plus now the race against a falling BTC price puts even more pressure on every coin to either sell... or sit and hold.

[piike2323]

http://static2.businessinsider.com/image/53209c9169bedd5b607bc861-574-468/welcome-step-3.png

https://paybase.com/img/angela/screenshot-1.png

This actually isn't that great. The original looks more shopped than the GAW one. Not saying that proves anything -- could just be a resolution difference, and anyway the time stamp on the Zinc post is the most damning bit of evidence for GAW -- but there are more artefacts around the Zinc fonts.

Wait let me put my glasses on for a closer look.. 

welcome to the thread 

Where is an emoticon smacking self in Face?

The Zinc Save is the original? Yo WTF; that wasn't even photo shopped. It was MS paint brushed. That's why it has so many artifacts showing around "zinc save"and "order with zinc for" areas. The dates where just simply added.

[jackbox]

Minted coins take 120 blocks to mature. I mined some before my rig got rented out. Sold it all on coin swap. Don't trust GAW/Josh for anything. Took what I could get. Renting income is very good at the moment. 

Good of you to support the Paycoin economy

Your welcome. One of your big boys is renting my rig right now. Hell, for all I know, it could be you. I appreciate the extra income. Thank you to everyone over at HT forum.. 

[vach]

Whats the exact time of that paybase thing opening? with timezone
anyone knows?

[Paul Revere]

I sure hope this dude thought ahead and built a roomy doghouse out back:



Maybe he should sell her jewelry and the TV while she is at work to "invest" as well? Interesting to note that "she" is going to work, and he, being the brains of the household is staying home to "wisely invest" all of her earnings......

[vabchgent]

gaw is a scam

Has GAW been proven to be a scam?

GAW has not been proven to be a scam but looks like one. Guess we will all find out Friday or Saturday. Some of us had faith in GAW and Lost it. Why you might ask -Because the promises ran short of the truth more so then not. Most of us learned from Experience and it left a sour taste in our mouths. So let GAW show us we are wrong and not right and I dont mean coming soon previews. The next best thing tag line that seems to run rampant. There were people that sold snake oil that used the same technique back in the day.