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

[interstellar]

Something real...

https://shapeshift.io/ now supports paycoin.

[numanoid]

WOW something just hit me like a brick. If GAW stops mining of paycoin how are the users going to maintain the floor of the coin. Like right now its mine>keep or sell >buy. Do they plan on reopening the mining pools or how are they working the generation of new coin or what makes the new coin.   

Transaction fees.  The owners of the prime controllers(.xls) <--- I don't get that reference earn money on transactions through paybase.  I think Orion controllers do as well but at a much smaller scale.

The staking of coins allows liquidity of the prime controllers (which generate txn fees) and the people who stake earn a small percentage.

Now since we have no idea how prime controllers work (it is assumed each minted coin has to have some amount of fiat going to the floor) we don't know if non-GAW owned primes actually contribute to the floor.

So basically, I have no fucking idea, but this is how it's supposed to work I think.

[wajiminer]

from what I understand gocoin gives immediate access to pay with paycoin.. question being what will a paycoin be valued at

paybase is the integration side of things that will allow use on amazon etc...

[vabchgent]

WOW something just hit me like a brick. If GAW stops mining of paycoin how are the users going to maintain the floor of the coin. Like right now its mine>keep or sell >buy. Do they plan on reopening the mining pools or how are they working the generation of new coin or what makes the new coin.   

Transaction fees.  The owners of the prime controllers(.xls) <--- I don't get that reference earn money on transactions through paybase.  I think Orion controllers do as well but at a much smaller scale.

The staking of coins allows liquidity of the prime controllers (which generate txn fees) and the people who stake earn a small percentage.

Now since we have no idea how prime controllers work (it is assumed each minted coin has to have some amount of fiat going to the floor) we don't know if non-GAW owned primes actually contribute to the floor.

So basically, I have no fucking idea, but this is how it's supposed to work I think.

Now I am more confused then when I started and I was pretty confused to begin with..  

[DARKANGEL6415]

I wonder what this forum will be like if or should I say when pay base launches and people stay seeing the coin selling @ $20, I would imagine some will still be calling scam whilst others will just fade away feeling sorry for them selves for selling now. I saw one large sale of 2000 XPY @ .0200 so lets  call it 14K now when the $20.00 is available then that person will be 26K down. I can imagine on all forums including Hash Talk people will be screaming that some how Josh should compensate for them selling their coins cheaply as they didn't know that pay base was going to be exchanging at $20.00.
I am buying coins until I run out of BTC. Once Pay Base is launched I will sell some XPY and buy more form the open market up to $18.00. I imagine a lot of GAW customers will do the same.

I only have about 10K worth of XPY a lot less then most, I will be staking, I also have invested in other mining services as well and will continue to do so.
If I wanted out now I would be well ahead, I have already made my ROI many times over and all other investments are from earnings, I have a real job that I earn money to pay for every day living. I see all crypto as a chance of possibly getting on to a new technology before the rest of the world does.

This forum and Hash Talk can make all crypto look bad, how about everyone try to work together for what we all want and that is a strong industry.

i know and you may be right i wonder what josh is doing right now with all the money

[T0urist]

Something real...

https://shapeshift.io/ now supports paycoin.

I'll give them that.. shapeshift is a nice service. Likely onboard due to the volume coin-swap is doing. How does shapeshift make $$$ though? i don't see anything about a fee etc

Quoted as per their site

Fees

With ShapeShift, what you see is what you get. The exchange rate shown is exactly what you'll receive, minus only the "miner fee."
There is no exchange fee, or service fee.

BTC Miner Fee: 0.0001 BTC

LTC Miner Fee: 0.003 LTC

PPC Miner Fee: 0.01 PPC

DRK Miner Fee: 0.003 DRK

DOGE Miner Fee: 1 DOGE

NMC Miner Fee: 0.005

FTC Miner Fee: 0.1 FTC

BC Miner Fee: 0.0001

I've used them many times to do dogecoin conversions so i'm not sure how they are promoting the service / making $$$.

[Paul Revere]

The Prime Controllers.xls is a reference to the fact that Prime Controllers do not actually exist, they are just a figment of spreadsheet imagination.

[vabchgent]

from what I understand gocoin gives immediate access to pay with paycoin.. question being what will a paycoin be valued at

paybase is the integration side of things that will allow use on amazon etc...

I would have to think it would go by exchange pricing cryptsy or coin swap

[suchmoon]

I'm cautiously optimistic about this new news, but you naysayers are really grasping at straws now.

If the Gocoin thing actually happens, then you can use your Paycoins to buy gift cards and spend by proxy.  While direct integration is way better, who the fuck cares?  If I can buy a $2k Amazon card and go on a shopping spree using XPY then it's as good as BTC for me.

One thing is certain, no coin has launched with this much support.  Comparing this to other altcoins is a joke at this point.  If the Paybase UI allows conversion (at Paybase market value) of XPY to BTC it's just icing on the cake.  No more need for shitty plugins for anywhere BTC is used.

Well, excuse me for naysaying, but so far most of that support is just words on a forum. Are you sure you'll be able to buy the gift cards at the $20 per XPY rate? Otherwise it's just another altcoin, that you could just "shapeshift" or otherwise convert into BTC and spend without any exclusive merchant integration.

[interstellar]

Something real...

https://shapeshift.io/ now supports paycoin.

I'll give them that.. shapeshift is a nice service. Likely onboard due to the volume coin-swap is doing. How does shapeshift make $$$ though? i don't see anything about a fee etc

Quoted as per their site

Fees

With ShapeShift, what you see is what you get. The exchange rate shown is exactly what you'll receive, minus only the "miner fee."
There is no exchange fee, or service fee.

BTC Miner Fee: 0.0001 BTC

LTC Miner Fee: 0.003 LTC

PPC Miner Fee: 0.01 PPC

DRK Miner Fee: 0.003 DRK

DOGE Miner Fee: 1 DOGE

NMC Miner Fee: 0.005

FTC Miner Fee: 0.1 FTC

BC Miner Fee: 0.0001

I've used them many times to do dogecoin conversions so i'm not sure how they are promoting the service / making $$$.

I can only imagine that they have some sort of api linked to an exchange so they do an instant trade on the exchange to cash out in BTC. They must be making money on the diff between the price they pay and the exchange price. Interesting that you can buy paycoin right now from their site and sell it over at crypsty at buy price and make a few percent.

[suchmoon]

With ShapeShift, what you see is what you get. The exchange rate shown is exactly what you'll receive, minus only the "miner fee."
There is no exchange fee, or service fee.

I've used them many times to do dogecoin conversions so i'm not sure how they are promoting the service / making $$$.

It's just another way of saying that there is no extra fee on top of the displayed rate, but the displayed rate no doubt includes their margin. For example at the time of this post XPY is bought for ~0.0214 BTC and sold for ~0.0257 on ShapeShift and ~0.0225 on Cryptsy. Quite a significant spread.

[T0urist]

With ShapeShift, what you see is what you get. The exchange rate shown is exactly what you'll receive, minus only the "miner fee."
There is no exchange fee, or service fee.

I've used them many times to do dogecoin conversions so i'm not sure how they are promoting the service / making $$$.

It's just another way of saying that there is no extra fee on top of the displayed rate, but the displayed rate no doubt includes their margin. For example at the time of this post XPY is bought for ~0.0214 BTC and sold for ~0.0257 on ShapeShift and ~0.0225 on Cryptsy. Quite a significant spread.

If thats the case then shapeshift.io are telling lies again i quote their page

With ShapeShift, what you see is what you get. The exchange rate shown is exactly what you'll receive, minus only the "miner fee."
There is no exchange fee, or service fee.

They are saying there is no exchange or service fee from them only the rate coming from the exchange. They need to change their wording if this is not correct.

[Phildo]

Exchanges, like most "no fee" crypto businesses put a fee into the spread.

You give them 1 xpy, they give you x btc, turn around and buy 1 xpy for less than x.

[numanoid]

I'm cautiously optimistic about this new news, but you naysayers are really grasping at straws now.

If the Gocoin thing actually happens, then you can use your Paycoins to buy gift cards and spend by proxy.  While direct integration is way better, who the fuck cares?  If I can buy a $2k Amazon card and go on a shopping spree using XPY then it's as good as BTC for me.

One thing is certain, no coin has launched with this much support.  Comparing this to other altcoins is a joke at this point.  If the Paybase UI allows conversion (at Paybase market value) of XPY to BTC it's just icing on the cake.  No more need for shitty plugins for anywhere BTC is used.

Well, excuse me for naysaying, but so far most of that support is just words on a forum. Are you sure you'll be able to buy the gift cards at the $20 per XPY rate? Otherwise it's just another altcoin, that you could just "shapeshift" or otherwise convert into BTC and spend without any exclusive merchant integration.

No, I don't know for sure and it will take "coming weeks" until it is implemented.  But that is par for the course for ALL coins.  Things are announced an d then we wait for it to be put in place.

My only concern is the verification process.  How long will tier 2 verification take?  Once that is complete, I am sure I will be able to sell XPY for BTC at the Paybase price, which should be $20.

If you looked at the verification process, you will see there is a limit on how much dumping can happen each week.  If you think the "investors" are going to liquidate all their coins on day 1, you're mistaken based on the verification requirements.  

[interstellar]

With ShapeShift, what you see is what you get. The exchange rate shown is exactly what you'll receive, minus only the "miner fee."
There is no exchange fee, or service fee.

I've used them many times to do dogecoin conversions so i'm not sure how they are promoting the service / making $$$.

It's just another way of saying that there is no extra fee on top of the displayed rate, but the displayed rate no doubt includes their margin. For example at the time of this post XPY is bought for ~0.0214 BTC and sold for ~0.0257 on ShapeShift and ~0.0225 on Cryptsy. Quite a significant spread.

If thats the case then shapeshift.io are telling lies again i quote their page

With ShapeShift, what you see is what you get. The exchange rate shown is exactly what you'll receive, minus only the "miner fee."
There is no exchange fee, or service fee.

They are saying there is no exchange or service fee from them only the rate coming from the exchange. They need to change their wording if this is not correct.

They are the exchange as far as the user is concerned. What they do with the coin behind the scenes is their business. The reality is they are reselling it on another exchange and taking a small profit. Does that make sense?

[numanoid]

http://meganet.com/XPY/index.htm

http://www.meganet.com/

Meganet accepting XPY @ $20 per.

[interstellar]

http://meganet.com/XPY/index.htm

http://www.meganet.com/

Meganet accepting XPY @ $20 per.

lol 5 XPY for a 2GB usb drive?

[vabchgent]

http://meganet.com/XPY/index.htm

http://www.meganet.com/

Meganet accepting XPY @ $20 per.

Yep that's Walmart and Amazon. I can take my BTC straight to a national jewelry store and spend. Nice try come back when theres a real store excepting Paycoin. 

[siampumpkin]

http://meganet.com/XPY/index.htm

http://www.meganet.com/

Meganet accepting XPY @ $20 per.

Not the most reassuring website! 

[vabchgent]

Paycoin is just a coin at this point nothing more no magic and nothing different.

1) no real retail support
2) No thermoneculear block chain
3) No set floor
The list goes on

Josh could sell snow to the eskimos