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

[eightcylinders]

GAW made a mockery of it by offering 0.75 - 1.00% DAILY staking rate for coins held in their "online" wallets. Staking rate in your own wallet is 5% PER YEAR. So obviously they want you to keep your coins with them very much.

1% per day? LOL? Does that compound? And so there is no upper bound to the amount of paycoins in circulation?

The Orion Controllers get 365% APY as I recall from HT.  Pretty close to that anyway.  GAW offers its "web wallets" the same rate, allegedly as a "sharing" in the Orion Controller(s) operated by GAW.  Its really in effect a high interest loan of XPY to GAW.

1.2 Billion coins max

No idea what happens when you hit the maximum; presumably the Orion Controller stop?  But by then GAW has taken over the IMF and Treasury so it won't matter.

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[suchmoon]

GAW made a mockery of it by offering 0.75 - 1.00% DAILY staking rate for coins held in their "online" wallets. Staking rate in your own wallet is 5% PER YEAR. So obviously they want you to keep your coins with them very much.

1% per day? LOL? Does that compound? And so there is no upper bound to the amount of paycoins in circulation?

It doesn't compound, coins are locked in for 3 or 6 months. Not sure about the upper bound.

1.2 Billion coins max

That number is not in the latest version of the white paper AFAIK, so it might not be valid anymore.

[interstellar]

GAW made a mockery of it by offering 0.75 - 1.00% DAILY staking rate for coins held in their "online" wallets. Staking rate in your own wallet is 5% PER YEAR. So obviously they want you to keep your coins with them very much.

1% per day? LOL? Does that compound? And so there is no upper bound to the amount of paycoins in circulation?

Paycoin is like 1930s germany hyper-inflation on steroids. The coin will probably go into the tubes for this reason alone. Smart PoS coins like NXT stake without creating inflation. Paycoin was basically designed by morons to go straight to 1 sat.

I think the upper limit of coins is something like 1.2 Billions coins right?

[puwaha]

I will try to reach you once more using the most basic terminology that I can, although I know this is most likely a wasted effort.

Josh promises that XPY can be sold on Paybase Monday for $20. This means that every coin not currently held by GAW will be snapped up and taken there and sold for $20. This means that $20 for every XPC currently in the wild will be coming out of GAW's bank account.

Yes.  And this is what they want.  They want to prop up the $20 price on paybase... which is their own exchange.  It's the only exchange where they can guarantee the $20.  Buying $5 coins on another exchange is a wasted effort.  Why?  Because they just wasted $5 to buy a coin they don't need.

If they were to buy these POW coins right now, they can be bought for $5.

Gotcha.... no one is arguing what they "could" do.  You still have yet to explain why they need to do this.

The next part gets a little tricky, as it employs basic mathematics. Take a drink of water and try to stay with me here.

LOL.  I love this thread.

The estimate is that there will be 500,000 POW coins.

Gotcha.

Today this 500,000 coins could be purchased @5 each. This equals $2,500,000

Yep... I'm following.

Monday, (if there is validity to the $20 buyback promise) these coins will be bought on the exchanges and sold on Paybase for $20 each. This equals $10,000,000.

Are you still with me here?? Take a breath, stretch and get ready for the next part, I promise it is the end of this complicated Math.

Yep... my calculator is sitting at the ready.

$10,000,000 is more than $2,500,000. This means that if you pay $10,000,000 instead of $2,500,000 you will have $7,500,000 LESS in your bank account Monday.

You don't say.  Well gosh, I never thought of it like that.  That makes all the difference in the world.

Except... you still haven't explained *why* they need to buy those coins from the exchanges for $5.  Then they will be accused of price manipulation and owning 100% of the coins in existence.  Just more fodder for what you are trying to do here.

If you still do not understand that having $7,500,000 more in your bank account is better than tossing it in the toilet you will most likely never understand.

There. Was that so hard?

Make sure you rent as many miners as you can tonight to get "cheap" XPY so you can cash them in for $20 Monday morning!

Now... if you don't understand that they don't have to buy back all those coins because of natural market forces (arbitrage, and home stakers), then you will most likely never understand.

Finances are never as black and white as you imagine them to be.

[bitcoinnoisseur]

No, what I'm saying is why spend money on exchanges to buy coins?  They have enough debits to worry about with the HP->XPY->BTC/USD sell off from their own customers.  They need to have the money to support this sell-off from their customers.  And by doing so within paybase, they get the same effect from the exchanges that they want without having to buy coins from the exchanges.  They can't control the price on the exchange, but they can manipulate behavior a bit by only guaranteeing the $20 via paybase.

Translation: They have no intentions of paying $20 for Paycoins. If they did they would be buying them right now for $5.

Example: I am a builder. Let's say I need 100 sheets of plywood for a job next week that I a obligated to do. Today the sheets of plywood are on sale for $5. The sale ends Sunday, and Monday I will have to pay $20 per sheet. Are you REALLY so stupid that you would pay $20 instead of $5?? Do you REALLY not know the difference between $500 and $2,000?? Another product victim of our educational system. Shocking.

They don't have to *BUY* any coins.  They already have them!

Why would would you as a builder go buy cheap plywood when you already have enough for the job?  Sure, it's cheap plywood, but all the money you have to buy the cheap plywood is spoken for... to pay the construction guy's salaries for a while.  What are you going to tell your contruction guys... sorry, I spent all your salaries on more cheap plywood?

The "logic" you are applying here is so ass backwards I do not even know where to start to try to explain it to you. If you do not understand that buying something you must have for $5 instead of $20 is a better business practice I am afraid I will simply never be able to reach you. Kind of like trying to explain to my dog how to knit a sweater. Pretty much a wasted effort. Good luck!

Oh, and don't forget to rent more miners!!

If my logic is so "ass backwards"... then tell me... Why does GAW have to buy any XPY?  They already have the 12 million they need to distribute to prime controllers and haspoint conversion customers.  They don't have any more obligation to the price on any exchange other than their own.

If you don't understand that, then I guess we are done then.

I will try to reach you once more using the most basic terminology that I can, although I know this is most likely a wasted effort.

Josh promises that XPY can be sold on Paybase Monday for $20. This means that every coin not currently held by GAW will be snapped up and taken there and sold for $20. This means that $20 for every XPC currently in the wild will be coming out of GAW's bank account. If they were to buy these POW coins right now, they can be bought for $5.  

The next part gets a little tricky, as it employs basic mathematics. Take a drink of water and try to stay with me here.

The estimate is that there will be 500,000 POW coins.

Today this 500,000 coins could be purchased @5 each. This equals $2,500,000

Monday, (if there is validity to the $20 buyback promise) these coins will be bought on the exchanges and sold on Paybase for $20 each. This equals $10,000,000.

Are you still with me here?? Take a breath, stretch and get ready for the next part, I promise it is the end of this complicated Math.

$10,000,000 is more than $2,500,000. This means that if you pay $10,000,000 instead of $2,500,000 you will have $7,500,000 LESS in your bank account Monday.

If you still do not understand that having $7,500,000 more in your bank account is better than tossing it in the toilet you will most likely never understand.

There. Was that so hard?

Make sure you rent as many miners as you can tonight to get "cheap" XPY so you can cash them in for $20 Monday morning!

I got your point the first time you explained it. I know how it works. Now let's assume GAW goes on the other exchanges and imposes a floor of $20 what will all of you say then? Then you got another point to attack GAW with MARKET MANIPULATION. I'm I correct? Oh yes I'm correct. So GAW does not do this because you people will have another reason to bash them.

It was never explained to you because you never asked and that's why your name isn't in any of the quotes. With that being said, Josh has already stated multiple times that he will NOT impose a $20 floor on other exchanges. SO, what exactly is your point for saying anything?

[Puppet]

One more question; if mining stops, who ahm.. mines the blocks? I assume GAW does that with some left over miners ? How is that secure then against a 51% attack?

[bitcoinnoisseur]

GAW is Arabic for SCAM

We demand proof of data center all we get is photoshop fakes









I demand proof of delivery of Hashlet

I always wondered how does this look photoshopped? I have NO idea what i'm looking at please point out where you see that it is photoshopped? I just want to learn to spot this for myself.

http://fotoforensics.com/

I have no intention of reading all this. Please point to me exactly why this is photoshopped.

Reading what? I posted a link to a website. However, I believe you have no intentions of reading up about it simply because you can not comprehend what you read. You sir are a complete moron.

[suchmoon]

I got your point the first time you explained it. I know how it works. Now let's assume GAW goes on the other exchanges and imposes a floor of $20 what will all of you say then? Then you got another point to attack GAW with MARKET MANIPULATION. I'm I correct? Oh yes I'm correct. So GAW does not do this because you people will have another reason to bash them.

This is not about the floor. It's about common sense. Cheap coins - GAW should buy them. No need to lift it all the way to $20, just buy them up cheap, before they come to Paybase to be sold at $20.

TBH, for all we know they might already be doing that, just not admitting publicly. That is if the floor is real.

The dispute is around puwaha's denial that it makes sense for GAW to do that because "they don't need" THOSE coins. That's irrelevant, if they have the obligation to buy ALL coins.

[tom14cat14]

Get ready for a dump tonight. https://hashtalk.org/topic/24296/your-xpy-is-on-the-way

You hand out close close to 12 million coins tonight with no floor people will be tempted to dump. So I think the dump will start tonight and GAW will be able to buy these coins much cheaper so if/when they put the floor in on paybase there will be a lot less coins they would have to buy back.

[Paul Revere]

Now... if you don't understand that they don't have to buy back all those coins because of natural market forces (arbitrage, and home stakers), then you will most likely never understand.

Finances are never as black and white as you imagine them to be.

[suchmoon]

One more question; if mining stops, who ahm.. mines the blocks? I assume GAW does that with some left over miners ? How is that secure then against a 51% attack?

Blocks are "mined" by wallets that hold the coins, but since 96% of coins are in GAW's possession, then yeah...

[puwaha]

If my logic is so "ass backwards"... then tell me... Why does GAW have to buy any XPY?  They already have the 12 million they need to distribute to prime controllers and haspoint conversion customers.  They don't have any more obligation to the price on any exchange other than their own.

If you don't understand that, then I guess we are done then.

Are you saying that GAW can refuse to buy any of the POW coins? Because that's the only way this could possibly make sense. If I transfer a POW coin to Paybase and try to sell it at the promised $20 price, will it work? Yes or no?

Sure it will work.  There are no markers on the coins.

Yes - GAW is losing money, they should buy those coins now, and your logic is indeed flawed.

You still haven't explained why they need to buy any coin from an exchange to prop up a floor that simply doesn't exist until paybase is opened.  They are just wasting money to buy coins they don't need.

See... the problem here is that you all think that GAW has nefarious tendencies.

No - your logic is correct then, but GAW is screwing over all those loyal customers who believe in the "floor" and are buying up coins on the exchanges now.

I promise you the small amount of coins that come from the public markets into paybase to cash-out is much smaller than the amount of coins that will be locked up in prime controllers and hashstakers.

[wdl1908]

GAW is Arabic for SCAM

We demand proof of data center all we get is photoshop fakes









I demand proof of delivery of Hashlet

I always wondered how does this look photoshopped? I have NO idea what i'm looking at please point out where you see that it is photoshopped? I just want to learn to spot this for myself.

http://fotoforensics.com/

I have no intention of reading all this. Please point to me exactly why this is photoshopped.

Reading what? I posted a link to a website. However, I believe you have no intentions of reading up about it simply because you can not comprehend what you read. You sir are a complete moron.

People keep posting these images and the forensic analysis pictures and expect everybody to see what it wrong with it without even explaining it. And I think the person that posted the forensic analysis picture does not even comprehend what he is posting. I just ask what is wrong with the picture so other people not versed in this sort of analysis can see the is photoshopped or not.

[interstellar]

Get ready for a dump tonight. https://hashtalk.org/topic/24296/your-xpy-is-on-the-way

You hand out close close to 12 million coins tonight with no floor people will be tempted to dump. So I think the dump will start tonight and GAW will be able to buy these coins much cheaper so if/when they put the floor in on paybase there will be a lot less coins they would have to buy back.

Yes this is gonna save them a fortune. But paycoin is going into the toilet very soon lol.

Critical thing to note from Homero:

I think you guys should get that upside while we all wait for Paybase to launch and for us to start bringing in the $20 floor over time.

Now it's over time huh. Basically he's saying there will be no floor then. Creating value in the coin to raise prices over time in the market is just like any other coin. Will the faithful lap it up or realize he has just pulled a bait and switch on them?

[Puppet]

Get ready for a dump tonight. https://hashtalk.org/topic/24296/your-xpy-is-on-the-way

"We want laws to be built around Paycoin. "

Is that guy for real?

[puwaha]

What does the "staking" achieve, and what does it do for the 96% or whatever gaw premined if they are staked?

Keeps them off the markets, creates scarcity, and uses natural forces of supply/demand to keep prices up.

[puwaha]

You have insulted yourself far more than anyone ever could by simply continuing to open your mouth and spew utterly ridiculous comments and questions. It seems as though you are a glutton for punishment as you never shut up and say the same things over and over ad nauseam. Does someone actually have to slap you upside the head to get you to understand all of this or to at least attempt to get your presimian brain to wrap around such basic math?

Ugh... you don't want to discuss anything do you?

I hope you see the irony in your statements considering you do nothing but state the same things over and over again.  Though, you do usually come up with unique insults, I'll give you that.

[suchmoon]

You still haven't explained why they need to buy any coin from an exchange to prop up a floor that simply doesn't exist until paybase is opened.  They are just wasting money to buy coins they don't need.

I give up. This has been explained to you numerous times, I'm not quite sure why you're still so adamantly denying simple math. $5 < $20.

[bitcoinnoisseur]

Get ready for a dump tonight. https://hashtalk.org/topic/24296/your-xpy-is-on-the-way

You hand out close close to 12 million coins tonight with no floor people will be tempted to dump. So I think the dump will start tonight and GAW will be able to buy these coins much cheaper so if/when they put the floor in on paybase there will be a lot less coins they would have to buy back.

I have 46.98 paycoin in my account now from the HP's I earned 6 weeks ago. What are the odds I have $939.60 or $939.60 worth of bitcoin in my possession outside of GAW's control by Monday?

[jfabritz]

I got your point the first time you explained it. I know how it works. Now let's assume GAW goes on the other exchanges and imposes a floor of $20 what will all of you say then? Then you got another point to attack GAW with MARKET MANIPULATION. I'm I correct? Oh yes I'm correct. So GAW does not do this because you people will have another reason to bash them.

I think the fact that GAW pegged the value of XPY at "$20" is what is going to be a problem for them.

They (will have) manipulated the market to their disadvantage. If the market is not willing to pay "$20" per coin, sellers will go to GAW because they have a floor they are honoring, until they decide to no longer honor it and let the value of Paycoin float to the greater market's value like every other coin.