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

[eightcylinders]

They'll probably get it if they can demonstrate that PayCoin is an established cryptocurrency and people are actively using it and referring to it by that name. Prior use means nothing if the name wasn't registered. (That said, I am not a trademark lawyer..)

That is 100% incorrect.  **Registration** means nothing if there is prior use.  Registration will not trump prior use, prior use trumps registration.  Only if and when registrations become "incontestable" after 5 years will they end up trumping prior use.

Trademark rights are acquired by use, NOT by registration, in the United States at least.

Anyone want to debate this, I am happy to educate you for my hourly fee of $1,000.  

EDIT: And, even if the mark became inconstestable after 5 years of continuous use (and that is assuming that GAW was able to obtain a registration in the first place, which seems highly unlikely in light of the prior use of Paycoin) ... the prior user STILL can use its mark over the registered trademark!

[vach]

interesting:
https://chainz.cryptoid.info/xpy/#!rich

so they take current price and multiply it by coin amount and thats the market cup? is that calculated the same way with btc?
I think thats total crap... once someone sells over 500 coins, price (and thus the market cup) will dump by 30%

[vach]

They'll probably get it if they can demonstrate that PayCoin is an established cryptocurrency and people are actively using it and referring to it by that name. Prior use means nothing if the name wasn't registered. (That said, I am not a trademark lawyer..)

That is 100% incorrect.  **Registration** means nothing if there is prior use.  Registration will not trump prior use, prior use trumps registration.  Only if and when registrations become "incontestable" after 5 years will they end up trumping prior use.

Trademark rights are acquired by use, NOT by registration, in the United States at least.

Anyone want to debate this, I am happy to educate you for my hourly fee of $1,000. 

your time is quite cheap

[dyask]

interesting:
https://chainz.cryptoid.info/xpy/#!rich

so they take current price and multiply it by coin amount and thats the market cup? is that calculated the same way with btc?
I think thats total crap... once someone sells over 500 coins, price (and thus the market cup) will dump by 30%

That is always how market cap is calculated.  

[hazenyc]

interesting:
https://chainz.cryptoid.info/xpy/#!rich

so they take current price and multiply it by coin amount and thats the market cup? is that calculated the same way with btc?
I think thats total crap... once someone sells over 500 coins, price (and thus the market cup) will dump by 30%

Yes, that is how they are doing it. This is how companies on the stock market are also valued - say a share is $20 and the founder has 1M shares, he is worth $20M on paper.
BUT the better way to calculate is float-adjusted market cap. - this accounts for the shares outstanding vs. those unavailable for trading.

[vach]

30 minutes already my transaction started, yet i got only 4 confirmations...

<sarcasm>awesome GAW your transactions are fastest in the world</sarcasm>

[hazenyc]

One more implication. If XPY is pegged to $dollars, but it can only trade vs. BTC --> as BTC rises in $value, XPY must fall in BTC value and vice/versa

[maildir]

So that is the trick. Max 5000 USD buy back at 20 USD per customer every 30 days. Has some one done the math.  How many customers, how controlled it will be etc.

Tier 4
◦Verify two forms of government-issued ID, have an account established for 30 days
◦Purchase up to $75,000 of XPY with FIAT
◦Purchase up to $5,000 of BTC with XPY
◦Convert XPY to FIAT up to $5,000

I notice it fits nicely with the input of the next tier. 100,000 FIAT in, 100,000 FIAT buy back at 20 USD of shitcoin, as above.

I don't have the brain power for this math, but without doubt these input and output numbers are not arbitrary, these two tiers are inter-twined somehow. Amount of BTC for XPY included.



VIP Tier
◦Must complete an application, (to be released)
◦Purchase up to $100,000 of XPY with FIAT
◦Purchase up to $25,000 of BTC with XPY
◦Convert XPY to FIAT up to $10,000

[dave01]

So that is the trick. Max 5000 USD buy pack at 20 USD per customer every 30 days. Has some one done the math.  How many customers, how controlled it will be etc.

Tier 4
◦Verify two forms of government-issued ID, have an account established for 30 days
◦Purchase up to $75,000 of XPY with FIAT
◦Purchase up to $5,000 of BTC with XPY
◦Convert XPY to FIAT up to $5,000

I notice it fits nicely with the input of the next tier. 100,000 FIAT in, 100,000 FIAT buy back at 20 USD of shitcoin, as above.

I don't have the brain power for this math, but without doubt these input and output numbers are not arbitrary, these two tiers are inter-twined somehow.



VIP Tier
◦Must complete an application, (to be released)
◦Purchase up to $100,000 of XPY with FIAT
◦Purchase up to $25,000 of BTC with XPY
◦Convert XPY to FIAT up to $10,000

Im hoping so. :D

[gefafwisp]

They'll probably get it if they can demonstrate that PayCoin is an established cryptocurrency and people are actively using it and referring to it by that name. Prior use means nothing if the name wasn't registered. (That said, I am not a trademark lawyer..)

That is 100% incorrect.  **Registration** means nothing if there is prior use.  Registration will not trump prior use, prior use trumps registration.  Only if and when registrations become "incontestable" after 5 years will they end up trumping prior use.

Trademark rights are acquired by use, NOT by registration, in the United States at least.

Anyone want to debate this, I am happy to educate you for my hourly fee of $1,000.  

EDIT: And, even if the mark became inconstestable after 5 years of continuous use (and that is assuming that GAW was able to obtain a registration in the first place, which seems highly unlikely in light of the prior use of Paycoin) ... the prior user STILL can use its mark over the registered trademark!

Good to know, thanks for stepping in to clarify that. Seems like GAW messed this up.

[CoinFire]

GAW still not shutdown by some government securities or other regulatory investigator

Paycoin market still bouncing back after many efforts to dump it to oblivion.

Sure - if the Paycoin investors and GAW customers are all idiots then perhaps there is enough collective idiots for them to become successful and thats the story of a lot of businesses actually.

Meanwhite - a lot of fake stuff, fake TOS, lame and failed predictions and total bunk is amassing over here.

I was payed out in XPY converted from Hashpoints today - i can sell it right now and i have ROI'd but i'll hold it - perhaps like and idiot, perhaps that idiocy will pay off. I have already bought on the market and transfered in and out of Zenclouds XPY wallet ... very fast to confirm. I read people saying "slow assed coin" - what are you smokin?

I haven't even seen any kind of statement from any whistle blower - the most feeling of flimflam i get is from a few of the main people on this forum. Just getting their jollies because they lost confidence. I don't need to have confidence in everything to see enough evidence that it works - just like i don't need to have confidence in Coin swap market to test it, use it and get out with the btc or xpy.

So make some more predictions and lets see - when. I don't see anyone saying 1 satoshi for XPY any more - lol.

You can read the TOS yourself, after Amazon sent it over we read and found those items.

As far as the whistleblower goes, it takes time to validate the person and make sure they are legit. I am hoping on a flight tomorrow morning to go meet them in person to further validate the claims they are making. We don't want to get this wrong. Being legitimate means it takes longer to get stories sometimes.

[corygto]

So it looks like anybody trying to move any real money out will have to go through a waiting period for verification to do so.

I think I remember somebody saying how they will put all kinds of obstacles to stall you from being able to cash out and leave. Looks like it's already happening.

[inBitweTrust]

People are begging to verify for paybase now but GAW isn't budging.
Tier 2 is the first level where people can begin to cash out at a slow 500usd a week per verified accounts. They have also indicated that there will be a waiting list for verification. So this ponzi can carry on for over a month while josh takes some of the investors profits and redistributes them back out slowly giving this operation credibility because certain people will be able to turn a profit at the loss of others who cannot meet KYC or have too much XPY to unload(like in many ponzi's).

Tier 2

    Verify a credit card or bank account
    Purchase up to $10,000 of XPY with FIAT
    Purchase up to $500 of BTC with XPY


This is going to be a very slow train wreck that will eventually crash and burn where GAW and Josh blame the merchants lawyers or regulators, crazy anti-GAW whistleblowers, or possibly hackers. Probably a combination of all the above as that is what is being setup right now. They will try to portray themselves as victims like Mark as a means of quelling the anger which is heading their way.

My advice to anyone caught in this scam is to try and buy some needed items directly with XPY(the merchants are not touching XPY in reality) and get out as soon as possible before all the merchants block the plugin like Amazon did.
 
My guess is that Paybase will shortly realize that people are dumping their XPY this way as a means to get around the KYC limitations or verifications and than make up some excuse as to stop or limit the dumping of XPY by claiming some bug or temporary issue they need to work out with merchants.

[vabchgent]

People are begging to verify for paybase now but GAW isn't budging.
Tier 2 is the first level where people can begin to cash out at a slow 500usd a week per verified accounts. They have also indicated that there will be a waiting list for verification. So this ponzi can carry on for over a month while josh takes some of the investors profits and redistributes them back out slowly giving this operation credibility because certain people will be able to turn a profit at the loss of others who cannot meet KYC or have too much XPY to unload(like in many ponzi's).

Tier 2

    Verify a credit card or bank account
    Purchase up to $10,000 of XPY with FIAT
    Purchase up to $500 of BTC with XPY


This is going to be a very slow train wreck that will eventually crash and burn where GAW and Josh blame the merchants lawyers or regulators, crazy anti-GAW whistleblowers, or possibly hackers. Probably a combination of all the above as that is what is being setup right now. They will try to portray themselves as victims like Mark as a means of quelling the anger which is heading their way.

My advice to anyone caught in this scam is to try and buy some needed items directly with XPY and get out as soon as possible before all the merchants block the plugin like Amazon did.
 

Concidering he not registered with the FINCEN yet it may be longer then that.

[vach]

So it looks like anybody trying to move any real money out will have to go through a waiting period for verification to do so.

I think I remember somebody saying how they will put all kinds of obstacles to stall you from being able to cash out and leave. Looks like it's already happening.

because if they just build the buy wall at the very first exchange (in our case CoinSwap) it would be easily destroyed simply because everybody knows that that wall is limited and 20$ is the best price for coin that is not thrustworthy and does nothing (at least now)...
and by slowing down the the buy reserve, they will win time to MAKE it valuable.... be sure that its current value is holding (even going up) only because everyone hope to cash out 20$ for their coins LATER...

for example i'm dumping lot of coins, but i know with my dump price goes down and i can buy now cheaper... so i'm speculating... and in fact i've already made the profit they promised me (well except selling primes)

we have greate opportunity to arbitrage till monday

[WaffleMaster]

 

So that is the trick. Max 5000 USD buy back at 20 USD per customer every 30 days. Has some one done the math.  How many customers, how controlled it will be etc.

Tier 4
◦Verify two forms of government-issued ID, have an account established for 30 days
◦Purchase up to $75,000 of XPY with FIAT
◦Purchase up to $5,000 of BTC with XPY
◦Convert XPY to FIAT up to $5,000

I notice it fits nicely with the input of the next tier. 100,000 FIAT in, 100,000 FIAT buy back at 20 USD of shitcoin, as above.

I don't have the brain power for this math, but without doubt these input and output numbers are not arbitrary, these two tiers are inter-twined somehow. Amount of BTC for XPY included.



VIP Tier
◦Must complete an application, (to be released)
◦Purchase up to $100,000 of XPY with FIAT
◦Purchase up to $25,000 of BTC with XPY
◦Convert XPY to FIAT up to $10,000

Firstly, I agree. They have to hop through all the hoops to even get to that level. So they need to give up their bank account, credit card, SSN, birth certificate, or driver's license to a company that is not registered with ANY of the qualifying regulators. I hope at least you can get BTC AND fiat out, so it actually doubles your monthly amount. WELL EVERYBODY, HOW DO YOU LIKE YOUR CENTRALIZED COIN?

[inBitweTrust]

Concidering he not registered with the FINCEN yet it may be longer then that.

If this is true than this is outrageous.....It is completely unethical to both claim legal and regulatory superiority over other bitcoin businesses and at the same time not be properly registered before launching an the IPO.

This may very well be another excuse given to further delay withdrawals, my guess is they won't need to use this excuse as they can selectively choose who to speed through the verification process in 3-4 days based upon how much XPY that is owned or if the person is likely to dump the coins or not.

[maildir]

DELUXE BAG OF HIPSTER DOUCHE  

[vabchgent]

Concidering he not registered with the FINCEN yet it may be longer then that.

If this is true than this is outrageous.....It is completely unethical to both claim legal and regulatory superiority over other bitcoin businesses and at the same time not be properly registered before launching an the IPO.

This may very well be another excuse given to further delay withdrawals, my guess is they won't need to use this excuse as they can selectively choose who to speed through the verification process in 3-4 days based upon how much XPY that is owned or if the person is likely to dump the coins or not.

WOW someone just ask where the MSB information is out right

https://hashtalk.org/topic/24461/can-we-see-the-registration-as-msb/5

[NeonTranceBadger]

DELUXE BAG OF HIPSTER DOUCHE  

Way to much fidgeting and twirling his pen, signs of someone who is lying.