So it's crazy, they still are unclear about when we get our coins and can trade hashstakers on market. Just sitting ducks, waiting to get shot.
Will everyone rush to exits, or will the sheep buy like crazy come friday and pump this before the dump?
IDK. They also disablied my chat customer support since i hard some harsh words about them and business practices. Guess that means tech support for me is nil now.
Well, guess can only hope to get out still before it fails, 250 million to keep this going on a floor, 100 million would probalby do it.
We all invested in Gaw under false information, and cause of that information we made decisions. Ironicly gaw wants to bring cryptos to masses, i think they are doing exactly opposite, making it so untrustworthy people rather use credit cards.
GOSH DANG zinc plugin app is their 100 million dollar news. FUCK YOU JOSH, CROOK!
There's no money for the floor/wall. Look if we look at things from up high I think we can get some perspective. If i was the ceo whose company was failing, who had no morals, I would do anything to try to keep it afloat. Let me play that person for a moment.
Let's assume for a minute there is no $100,000,000 reserve, no big investors. But I got a lot of little fish on zenminers. My cloud mining business didn't work out so well, the price of bitcoin made it come crashing down. It looked like I would be sued out of business. So I came up with this hashpoint business quick.
Give em hash points to shut them up. Gives me time to plan a new idea. The investors rumble but go along. Many of them invested credit card money in my cloud miners so what choice do they really have? They are all in.
What can make me a lot of money quick? Hmm, i know an ICO! Lots of scammers are making a fortune that way! So I put together a plan to make a quick clone coin and I hype it to my investors. I tell them all sorts of lies, things they need to hear, like there are big financial companies backing me, a $100 million dollar wall to explain why this coin will be different, partnerships with big merchants such as amazon, etc. Nothing that I have to prove or can't wiggle my way out of down the line.
Now things are going good and it looks like i might actually be able to pull my coin off. Somehow I got to keep it from crashing and there's that little problem with the hashpoints. There's no actual wall of money that is going to keep the price of the coin up. Hopefully I can work out something down the road though cause we are talking about millions of dollars when those hashpoints are converted.
Now everything he has done recently indicates that he is getting backed into this corner. The delays, the bannings and increased censorship of the site, the hyping of the lame plugin, the lack of any real announcements that he had promised, the careful wording when he talks about the wall/floor, the way he cruises around the site trying to figure out what everyone's thinking. He knows one thing: he can't allow a bank run. He has to keep the faithful in tow and not let them take their money out or he will be lost. He thinks he has them under control but he's not sure. The miners certainly didn't react the way he expected. Would they? Everything depends on it. Maybe if he plays things just right he can get that currency balanced and become an instant billionaire.
Everything he has done is exactly what I would have tried if I were trying to scam my investors. That's one of the reasons why it's so obvious what he's doing. You can argue that it's not a scam because he believes in it, actually believes his followers will make a ton of money. This is true. But by lying to investors, telling them whatever they need to hear, making promises he knows he'll never keep, it clearly becomes a scam no matter his state of mind.
Anyway, just my 2sats.
