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

[T0urist]

Yeah, I don't see any built-in security against a 51% attack specifically in the code.  But the attack still requires collusion between a majority of prime controllers, and a bad actor(s) can be ejected from the network.  All it takes is one prime to call a vote for ejection.  So theoretically, GAW (or the collusion group) would have to own 100% of the prime controllers.  After the ejection, Orion controllers can bid to become prime, thereby also securing against collusion.

And what if the bad actor is GAW who controls 100% of the prime controllers?

I'm still puzzled by this whole orion-bidding-prime process. Shouldn't it all be a transparent and cryptographically verifiable process? Otherwise why bother calling it a crypto currency.

In other words, let's say I buy 125k coins on Cryptsy (or maybe my name is Craig). How can I apply to host a Prime controller? This all starts in a few hours, and there doesn't seem to be any concern from anybody (us trolls don't count) that nothing is known about it

Consider this for a minute too suchmoon. Consider that Prime Controllers, orion thingies etc don't and never will exist. Imagine for a second that its possible that Josh will have the bidding open in subtracted for wallets for absolutely nothing. Those coins taken from the clients will be used to fund their stakes back as well as remove the coins from possible sell backs limiting liability.

Josh would likely in this scenario cover himself by releasing a new wallet but "refuse" to push the source for the prime and orion controllers stating its a risk to the customers if the source is available to attack. His victims and investors will eat that shit up because they'll be like yay for josh he's protecting us. It'll be a cover though. Its a win win... don't show the source so nobody can invalidate his claims and he sucks paycoins back without work done (and removes an element of cash backs @ $20 floor).

He'll please everyone by finding some blog setup by a mate to audit his source code and say the prime controller stuff is there.

We keep the circle going... gaw supporters say no proof and we say well show us some that it is there... they say look at the wsj blog.

This is what i think will happen next. There is NO prime controllers.... the source code is just a clone and there WON'T be this added functionality. As long as it "appears" there is a bidding process and peoples zen accounts have some icon or graphic that says you bought a prime controller with successful bid of 1 million paycoin people will be appeased.

Here we go again.... strap yourself in for the next round of victims.

I'm getting that feeling, yes. Trouble is, the wallet needs to be able to communicate with the Prime Controller. So even if controller source and/or other details are not released it should be evident if there is any Prime functionality in the network or not. And they can't hide the wallet code because exchanges etc need to be able to build their clients from source. I'm hoping that the missing github repo indicates they are working on it, just not sure how and when it's going to be forked.

Controller could hide as just another wallet with a balance. Remember they have 3 months before they have to pay out... controllers could theoretically do nothing till then right? I don't have knowledge of POS coins in action so not sure if there are daily transactions and workings you can watch out for as signs.

[suchmoon]

That's pretty strange considering ~11.5m coins haven't been touched in the past 5 days.

GAW doesn't own the customer wallets... they just host them.  If 60% are out of their control, then there isn't a possibility of 51% from the primes colluding.

How do I get my private key from ZenCloud?

Do you get your private key from any other cloud hosted wallet?  Did you get your private key from any exchanges you do business with?  If you don't like that your coins are hosted at ZenCloud, move them to your private wallet.

We are still talking about this: "GAW doesn't own the customer wallets". They do if they own the private keys.

It has to be a true wallet in order to stake, and not just a transaction-type address.  You can stake from your ZenCloud wallet.

But I now get where you are going with this.  You are saying that because you don't have the private key, GAW could close up shop and run off with all your worthless coins, right?

Any number of things could happen, yes. I know the risks of online wallets. I'm just grilling you on your statement that GAW doesn't own customer wallets and cannot do a 51% thing on XPY network. In my view they do and they can. As you mentioned, I can withdraw my coins, but that's irrelevant, since many other customers will leave coins on ZenCloud and/or in HashStakers, so 51% is still possible and that kind of shenanigans might affect me even if I keep my coins outside ZenCloud. Does that sound like a reasonable concern?

[suchmoon]

It's been fun tonight guys... but I really need to hit the sack.  I'll catch up with you tomorrow.

It was indeed 

Have a good one.

[suchmoon]

Controller could hide as just another wallet with a balance. Remember they have 3 months before they have to pay out... controllers could theoretically do nothing till then right? I don't have knowledge of POS coins in action so not sure if there are daily transactions and workings you can watch out for as signs.

No, actually Prime Controllers are supposed to provide the consensus for the instant transactions. That's a very important feature, probably THE most important Paycoin feature. So it's either going to work in about 7 hours from now or we have another red flag.

[suchmoon]

It is surprising that people here are still trying to pull this apart but the market is slowly rising, show me another coin that has this type of market trade, buying and selling out side of BTC. Show me a mining service that has produced based on the $6.85 valuation of XPY that has produced these profits if you wanted to take them now per MHS.

No other cloud service has come close and I dare say no other home minor has done better, so suck it up, accept the fact that the coin has support. I believe that BTC will always be the main coin, however if the market cap was showing correct figures you may find that this is No 3 not bad for a shit coin as some call it.

Most posters on this thread wish for the demise of Pay Coin, not because of the coin but they got banned from hash talk, if you really wanted crypto to survive you would be promoting crypto not trying to tear it apart.

How about we start 2015 with one thing and that is a crypto community that works together to bring the technology to the main stream, and not tear it apart from within.

Bubba, I think you're wrong about this, there is no widespread conspiracy against Paycoin. GAW is Paycoin's worst enemy with the way they treat it. It's rushed, incomplete, overhyped, centralized, etc etc. To bring the technology to the mainstream first the technology has to exist, which is what's being discussed in the last few pages, and you're calling this "tearing apart". The coin trading at $6 or $7 is great, but remember what that price is based on - promises. Aren't you at least a little bit curious if those promises are being fulfilled?

[suchmoon]

GAW is paying something crazy like 300% interest to people with the primes that stake or buy hashstakers and put paycoin in.. The paycoin you put in is locked for 3 or 6 months but the interest they generate is paid out daily.

Mining crypto - generally does make a decent return PER DAY and if people buy miners that are really just out with a great higher efficiency they have been known to ROI in 3 days. So taken out of that only the people who overwelmingly have more power getting the big block rewards and shares and actually rewarding the stakeholders at a high rate being highly profitable - especially in this environment of everyone unable to accept that any company could possibly be anything but self-serving ripoff merchants. That should yeild a high short term reward that over a year adds up to a huge percentage like 300%.

If anything the people on this forum point out how difficult to fathom GAW is and that they can't believe it can work out different to the usual pump and dump or premine shitcoin. Yet so far the coin has launched, bounced back. Now people in this forum are starting to not even comprehend how the business will run. Those people shouldn't invest - but if people think they can see how it will work out. Well they take a risk and the reward should be high.

Every point made here is just out of context, in isolation or poorly thought through and it shows in the way all the ultra-negative predictions are the epic fail and it makes you all look kind of like we few people are smart, you others are all dumb. We others are just taking bets, investing and hoping that it goes ok. If you did that you would feel kind of like "will you doubters just please shut the hell up and leave us to it", you can't say you wouldn't because you would be invested and either you would cut your losses and run for cover or sit it out and evaluate whatever news comes out.

I think you have it backwards. Points made here are red flags, and if taken OUT of context, as you're saying, each can be debated and possibly mitigated. It's when you put all of it INTO context it becomes worrying, that there are just so many loose ends.

I also think that you're contradicting yourself by saying " people in this forum are starting to not even comprehend how the business will run. Those people shouldn't invest" and at the same time "We others are just taking bets, investing and hoping that it goes ok.". So is it a gamble, or an informed investment decision? And if you're taking a gamble why would you want others to shut up? I don't want you to shut up, you can be as excited as you want about your investment, and if you can share some information in the process - even better. Likewise, you can either ignore "doubters" or perhaps make use of information uncovered in the discussion.

[T0urist]

Controller could hide as just another wallet with a balance. Remember they have 3 months before they have to pay out... controllers could theoretically do nothing till then right? I don't have knowledge of POS coins in action so not sure if there are daily transactions and workings you can watch out for as signs.

No, actually Prime Controllers are supposed to provide the consensus for the instant transactions. That's a very important feature, probably THE most important Paycoin feature. So it's either going to work in about 7 hours from now or we have another red flag.

So how can we see if a prime controller is in action? Just that transactions are instant? What i'm getting at is is there a block explorer or something that shows me a prime controller is running and working? How will we verify they exist and are working?

I don't understand how i might check this? This is what i don't understand about the POS coin. Do you happen to know? I'm just after something i can monitor to prove or not that its working in 7 hours.

[bitpop]

Homero tweeted a screen shot of the wallet that looked real cool. I can't find it. But point is, the released wallet is a clone with nothing new.

[Unacceptable]

Homero tweeted a screen shot of the wallet that looked real cool. I can't find it. But point is, the released wallet is a clone with nothing new.

You lookin fer dis

https://hashtalk.org/topic/19837/announcing-paybase

[vach]

It is surprising that people here are still trying to pull this apart but the market is slowly rising, show me another coin that has this type of market trade, buying and selling out side of BTC. Show me a mining service that has produced based on the $6.85 valuation of XPY that has produced these profits if you wanted to take them now per MHS.

No other cloud service has come close and I dare say no other home minor has done better, so suck it up, accept the fact that the coin has support. I believe that BTC will always be the main coin, however if the market cap was showing correct figures you may find that this is No 3 not bad for a shit coin as some call it.

Most posters on this thread wish for the demise of Pay Coin, not because of the coin but they got banned from hash talk, if you really wanted crypto to survive you would be promoting crypto not trying to tear it apart.

How about we start 2015 with one thing and that is a crypto community that works together to bring the technology to the main stream, and not tear it apart from within.

I cannot understand why you just stick with the idea of that all gaw says is true and will work out? If you're investor yourself (and not a hired employee) then you should be conserned just like others about your investments... The real crypto community originated from bitcointalk, and its still here, what this community tries to do here is figure out if this is another muther fucker trying to rob community, because if they dont and people go like idiots and be scamed then association of scam and cryptocurrency will be unevitable and it will take years for masses to understand true goal of crypto and that it has nothing to do with scamers...

If you dont see any good argument against what gaw claims and are absolutely confident in your investment, then why are you reading all this? dont and sleep well...
I suppose if you're in this thread then you have your concerns, and if not why dont you contribute some valuable toughts here...?

[vach]

Anyone knows whats happened with coinswap?

[T0urist]

Anyone knows whats happened with coinswap?

new trade engine shit itself.. they are reverting to old one. Go to the main site of coin-swap and not any extra links. The info was there around 30 mins ago for me.

[dave01]

.

[vach]

Anyone knows whats happened with coinswap?

new trade engine shit itself.. they are reverting to old one. Go to the main site of coin-swap and not any extra links. The info was there around 30 mins ago for me.

Yes i've read that, i mean anyting in style "ups we're hacked aaaaaaaaaaaand all your money gone" ?

[Nerull]

Anyone knows whats happened with coinswap?

new trade engine shit itself.. they are reverting to old one. Go to the main site of coin-swap and not any extra links. The info was there around 30 mins ago for me.

Yes i've read that, i mean anyting in style "ups we're hacked aaaaaaaaaaaand all your money gone" ?

Not hacked but their system fucked up and allowed customers to withdraw coins multiple times. So still might end up that way

*edit cant find where i saw that so maybe not

[MinermanNC]

Boy that really sucks for coin swap and all those holding pcoin there. Another interesting chapter in the launch. Still don't understand why Josh would go with a small untested exchange for such a miraculous high tech coin  

Oh ya BTC alive and kicking  

[Nerull]

pretty sure they were just the only ones that put up the pairing to start with

[truth_]

So is the switch from PoW to PoS today right?
Many alt coins that took the same path had major problems when the switch happened, including multiple hard forks.

Based on GAW's track record of being unable to properly handle any change that is more complex than a minor website tweak we can expect some chaos to ensue when the switch is supposed to happen.

[727miner]

So is the switch from PoW to PoS today right?
Many alt coins that took the same path had major problems when the switch happened, including multiple hard forks.

Based on GAW's track record of being unable to properly handle any change that is more complex than a minor website tweak we can expect some chaos to ensue when the switch is supposed to happen.

Does anyone know at what blockheight the PoS switch is supposed to happen at?

https://chainz.cryptoid.info/xpy/

[cryptofunk]

Something is weird, I just looked up the posts of Meganet the company accepting Paycoin natively wondering why they got banned if they are now the poster child of Paycoin with Josh going as far as asking users to support them in every way possible...  

GAWCEO

The First Store to Accept Paycoin!

Now this is what it's all about!

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

Not only are they the first store to accept our Paycoin, but they are even holding to the par value we will be at soon.

That's what we need to make this happen!

Please support Meganet in every way possible.

It also gives legitimacy to their initial claim when everybody labelled their story as being made up... maybe they finally ended up getting a personal concierge.

https://hashtalk.org/user/meganet
https://hashtalk.org/topic/24613/the-first-store-to-accept-paycoin