███ Stay away from GAWminers.com / Paycoin / Paybase - Mineral - SCAM ! ███

[Kisokos]

As for profiting ponzis - this is not that. He could not have possibly made 21 coins by using the website.
This is profiting from the trades on a free market. Do you have moral problems with that too? Remember, there are people who buy what you sell! lol

GAW and paycoin are likely ponzis. There is nothing wrong with investing , trading and profiting but doing so within a ponzi is unethical.

Well, I will not take a side on GAW cloud mining being a ponzi or not - it is, however a real company with 100m usd backing (= real, serious, invested dev) who released a very promising new altcoin which I'm interested in.
Tbh I've never really been interested in cloud mining unless I can direct the hash to a pool of my choosing. (-> to mine new alts )

[inBitweTrust]

Well, I will not take a side on GAW cloud mining being a ponzi or not - it is, however a real company with 100m usd backing (= real, serious, invested dev) who released a very promising new altcoin which I'm interested in.
Tbh I've never really been interested in cloud mining unless I can direct the hash to a pool of my choosing. (-> to mine new alts )

Any evidence to backup that claim of 100m?

[bitpop]

Gaw is a confirmed scam

[jimmothy]

Well, I will not take a side on GAW cloud mining being a ponzi or not - it is, however a real company with 100m usd backing (= real, serious, invested dev) who released a very promising new altcoin which I'm interested in.
Tbh I've never really been interested in cloud mining unless I can direct the hash to a pool of my choosing. (-> to mine new alts )

Any evidence to backup that claim of 100m?

Did you not hear? GAW's CEO said so himself so therefore it must be true.

Anyways I'd like to introduce you fine investors to jimmothycoin.

So far we've got $10 billion USD backing and some of the investors include Barack Obama, Elon Musk, the Pope, and many more.

We've even elected to spend at least $10,000 dollars to hire actual software devs to create this coin instead of taking the paycoin route and copy/pasting another coin.

[inBitweTrust]

Did you not hear? GAW's CEO said so himself so therefore it must be true.

Anyways I'd like to introduce you fine investors to jimmothycoin.

So far we've got $10 billion USD backing and some of the investors include Barack Obama, Elon Musk, the Pope, and many more.

We've even elected to spend at least $10,000 dollars to hire actual software devs to create this coin instead of taking the paycoin route and copy/pasting another coin.

I'm in as long as you sell me a bridge along with the coins.

[Kisokos]

What, did you guys not get in at .020 ?

[Kisokos]

Gaw is a confirmed scam

They own btc.com.  BAM! in the face!

[viriat0]

had a positive idea for this company. What really happened?

[Kisokos]

had a positive idea for this company. What really happened?

So far they are delivering on the XPY stuff. Today is the big day actually.
They are releasing paybase or what, which supposed to stabilize the price at .06 (it's .044 at the moment) - which is US$20.
I've got in at a much lower price, so I'm happily riding the wave with my measly low number of btcs, making sure to exit while in profit

[Kisokos]

Well, I will not take a side on GAW cloud mining being a ponzi or not - it is, however a real company with 100m usd backing (= real, serious, invested dev) who released a very promising new altcoin which I'm interested in.
Tbh I've never really been interested in cloud mining unless I can direct the hash to a pool of my choosing. (-> to mine new alts )

Any evidence to backup that claim of 100m?

Did you not hear? GAW's CEO said so himself so therefore it must be true.

Anyways I'd like to introduce you fine investors to jimmothycoin.

So far we've got $10 billion USD backing and some of the investors include Barack Obama, Elon Musk, the Pope, and many more.

We've even elected to spend at least $10,000 dollars to hire actual software devs to create this coin instead of taking the paycoin route and copy/pasting another coin.

You are right of course, XPY is a copy of peercoin. They also put down a lousy mil for btc.com, just for the gest of it - show me an altcoin dev who has a mil for a domain & I'm putting some cash there too.

Edit: sorry for effing up the hate thread, I'm outta here

[jimmothy]

Well, I will not take a side on GAW cloud mining being a ponzi or not - it is, however a real company with 100m usd backing (= real, serious, invested dev) who released a very promising new altcoin which I'm interested in.
Tbh I've never really been interested in cloud mining unless I can direct the hash to a pool of my choosing. (-> to mine new alts )

Any evidence to backup that claim of 100m?

Did you not hear? GAW's CEO said so himself so therefore it must be true.

Anyways I'd like to introduce you fine investors to jimmothycoin.

So far we've got $10 billion USD backing and some of the investors include Barack Obama, Elon Musk, the Pope, and many more.

We've even elected to spend at least $10,000 dollars to hire actual software devs to create this coin instead of taking the paycoin route and copy/pasting another coin.

You are right of course, XPY is a copy of peercoin. They also put down a lousy mil for btc.com, just for the gest of it - show me an altcoin dev who has a mil for a domain & I'm putting some cash there too.

Funny you say that because we just spent $50 million on our new domain name. I would tell you the name but I can't because of NDA.

Edit: sorry for effing up the hate thread, I'm outta here

Sorry having a discussion is not really your thing. If you're looking for circlejerking you should probably stick with hashtalk.

[SwissCrypt]

Gaw is a confirmed scam

WOW, that was a statement 

What about making a diet? Going to fitness? Enjoying fresh air?

You could get inspired again after!

Happy new year and Hash on 

[Kisokos]

Well, I will not take a side on GAW cloud mining being a ponzi or not - it is, however a real company with 100m usd backing (= real, serious, invested dev) who released a very promising new altcoin which I'm interested in.
Tbh I've never really been interested in cloud mining unless I can direct the hash to a pool of my choosing. (-> to mine new alts )

Any evidence to backup that claim of 100m?

Did you not hear? GAW's CEO said so himself so therefore it must be true.

Anyways I'd like to introduce you fine investors to jimmothycoin.

So far we've got $10 billion USD backing and some of the investors include Barack Obama, Elon Musk, the Pope, and many more.

We've even elected to spend at least $10,000 dollars to hire actual software devs to create this coin instead of taking the paycoin route and copy/pasting another coin.

You are right of course, XPY is a copy of peercoin. They also put down a lousy mil for btc.com, just for the gest of it - show me an altcoin dev who has a mil for a domain & I'm putting some cash there too.

Funny you say that because we just spent $50 million on our new domain name. I would tell you the name but I can't because of NDA.

Edit: sorry for effing up the hate thread, I'm outta here

Sorry having a discussion is not really your thing. If you're looking for circlejerking you should probably stick with hashtalk.

Ok ok, if you put it that way, I'm staying.

Funny you say that because we just spent $50 million on our new domain name. I would tell you the name but I can't because of NDA.

I get sarcasm, but you are mixing up 2 things a bit here.
1. The NDA story was about the contract with Amazon and 2 other big retail chains only americans care about.
AAAnd you are absolutely right, it sounds fishy to me too. However, within the next 24 hours we should have a definitive answer to this too, as they make the release. Or don't.  

2. The acquisition of the btc.com domain for 1 mil usd is a fact. You can't really get around that with any sarcasm.

[strangerdanger101]

As for profiting ponzis - this is not that. He could not have possibly made 21 coins by using the website.
This is profiting from the trades on a free market. Do you have moral problems with that too? Remember, there are people who buy what you sell! lol

GAW and paycoin are likely ponzis. There is nothing wrong with investing , trading and profiting but doing so within a ponzi is unethical.

I've often wondered, who's worse the ponzi designer himself or those who knowingly invest and promote said ponzi  allowing the ponzi to last even longer bringing down even more victims.

[Kisokos]

As for profiting ponzis - this is not that. He could not have possibly made 21 coins by using the website.
This is profiting from the trades on a free market. Do you have moral problems with that too? Remember, there are people who buy what you sell! lol

GAW and paycoin are likely ponzis. There is nothing wrong with investing , trading and profiting but doing so within a ponzi is unethical.

I've often wondered, who's worse the ponzi designer himself or those who knowingly invest and promote said ponzi  allowing the ponzi to last even longer bringing down even more victims.

Yeah, that's partly the reason why I don't participate in any cloud mining stuff.

But please separate the 2 things.
PayCoin is an altcoin which I trade on the exchanges - That's not a ponzi, it's trading.
Altcoins come and go. Devs scam or legitly fail. Some succeed. You get lucky. More often you get f*kd. You do your homework, you get f*ked less. That's how it is.

[bitpop]

As for profiting ponzis - this is not that. He could not have possibly made 21 coins by using the website.
This is profiting from the trades on a free market. Do you have moral problems with that too? Remember, there are people who buy what you sell! lol

GAW and paycoin are likely ponzis. There is nothing wrong with investing , trading and profiting but doing so within a ponzi is unethical.

I've often wondered, who's worse the ponzi designer himself or those who knowingly invest and promote said ponzi  allowing the ponzi to last even longer bringing down even more victims.

Yeah, that's partly the reason why I don't participate in any cloud mining stuff.

But please separate the 2 things.
PayCoin is an altcoin which I trade on the exchanges - That's not a ponzi, it's trading.
Altcoins come and go. Devs scam or legitly fail. Some succeed. You get lucky. More often you get f*kd. You do your homework, you get f*ked less. That's how it is.

No that's gambling and enriching scammers

[Kisokos]

As for profiting ponzis - this is not that. He could not have possibly made 21 coins by using the website.
This is profiting from the trades on a free market. Do you have moral problems with that too? Remember, there are people who buy what you sell! lol

GAW and paycoin are likely ponzis. There is nothing wrong with investing , trading and profiting but doing so within a ponzi is unethical.

I've often wondered, who's worse the ponzi designer himself or those who knowingly invest and promote said ponzi  allowing the ponzi to last even longer bringing down even more victims.

Yeah, that's partly the reason why I don't participate in any cloud mining stuff.

But please separate the 2 things.
PayCoin is an altcoin which I trade on the exchanges - That's not a ponzi, it's trading.
Altcoins come and go. Devs scam or legitly fail. Some succeed. You get lucky. More often you get f*kd. You do your homework, you get f*ked less. That's how it is.

No that's gambling and enriching scammers

Ideology? We going ideology now? fine by me.


Of course, trading is gambling. Same as on wall street just 1000th the volume. (something I can actually afford (to lose) unlike wall street betting, scuse' me, trading)

Enriching scammers? If you really want to put it that way, well, yeah. But not all the time - that's the point.
I would put it like this: I'm risking my money (=betting) and sometimes I get scammed if I'm not careful enough.

[inBitweTrust]

PayCoin is an altcoin which I trade on the exchanges - That's not a ponzi, it's trading.
Altcoins come and go. Devs scam or legitly fail. Some succeed. You get lucky. More often you get f*kd. You do your homework, you get f*ked less. That's how it is.

Paycoin is likely a pump and dump ponzi predicated upon lies and dishonesty. That places it in a special category of alts that should be avoided.

It isn't simply a matter of being mostly premined and highly inflationary that one should be concerned with. It is with the misleading dishonesty associated with this ICO, the fact that coins "mined" during the PoW phase wered actually mined because those ASICs didn't actually exist, and the fact that its price support is heavily dependent upon prime controllers and hashstakers locking in under contract with the  centralized issuer for 3 to 6 months at a time to stake at a higher rate(in PoS history this is unprecedented and highly dubious)

Top 7 reasons Paycoin will fail soon or within a year.

1) Centralized
2) Difficult to catchup to Bitcoins network effect and first mover advantage
3) Lack of technical innovation , mostly marketing fluff
4) The coin is backed by greedy and dishonest owners and clients many of whom lack technical ability and are simply in it for the money
5) Long term high inflation will lose out to long term deflationary currencies . We have plenty of fiat for you inflationary needs.
6) Paysave is based upon a plugin which breaks merchants TOS. These merchants will either disable the plugin or sue
7) Legal concerns over statements and ICO launch. There is already a mountain of evidence that GAW and josh have lied and misled their clients. All it takes is one disgruntled client, a lawyer , and they have a trove of evidence to sue GAW/paycoin with. Expect heavy legal pressure in the future. This is one of the severe weaknesses with paycoin that Bitcoin is immune from. There is no centralized Bitcoin company to sue or place legal pressure upon. There is no Bitcoin CEO.

[Kisokos]

PayCoin is an altcoin which I trade on the exchanges - That's not a ponzi, it's trading.
Altcoins come and go. Devs scam or legitly fail. Some succeed. You get lucky. More often you get f*kd. You do your homework, you get f*ked less. That's how it is.

Paycoin is likely a pump and dump ponzi predicated upon lies and dishonesty. That places it in a special category of alts that should be avoided.

OK, you are mixing up season and fashion.
Pump and dump is a scheme that all altcoins (can) suffer from given their low market cap. People with any considerable amount of money can artifically inflate prices. This is true for 98% of the altcoins out there.
With XPY it's a bit harder as it's market cap is quite in the upper league. (maybe even in the 2% from the line above)
This scheme can be spotted, avoided, or even made advantage of, depending on your trading and technical analysis / research skills.

Ponzi is a scheme where users register for a service and get paid (unrealisticly high) returns - which are paid from the registering fee / investment of new users. The scheme fails when there are more returns to pay up than
new users registering.
This scheme can be exploited if you get in early and make roi before the whole thing falls apart. This requires some... well, absence of ethics, or stomach, which personally I don't really have.

It isn't simply a matter of being mostly premined and highly inflationary that one should be concerned with. It is with the misleading dishonesty associated with this ICO, the fact that coins "mined" during the PoW phase wered actually mined because those ASICs didn't actually exist, and the fact that its price support is heavily dependent upon prime controllers and hashstakers locking in under contract with the  centralized issuer for 3 to 6 months at a time to stake at a higher rate(in PoS history this is unprecedented and highly dubious)

Ok, let's take this one by one.
- Mostly premined: yes.
- Highly inflationary: No. Assuming the release today fixes the price at or above US$20. Not long to wait now. And No, see second part of price support.
- Dishonesty about ICO, not mined pow coins - what? I missed this, can you give me source please? (I also mined it in the pow phase, so ... double what?)
- Price support: it's highly dependent on their release of PayBase, and the fixed price of XPY there.
All these stakers / controllers are means to control the, wait for it, .... wait for it.... the SUPPLY of XPY. which is quite unique in crypto if I'm not mistaken.
- Staking at a higher rate is questionable, yes. Could be part ponzi, but more likely covered by their other income. Could be that they do have hashing power that generates income.
Remember, if they actually make profit (which I'm sure they do), and share part of this profit with the people who help securing the supply of their coin.... it's actually a dividend payout -> not a ponzi.

Edit: ah, shoot you edited your post with points, hold on.

[inBitweTrust]

- Dishonesty about ICO, not mined pow coins - what? I missed this, can you give me source please? (I also mined it in the pow phase, so ... double what?)

It is likely both a pump and dump and a ponzi.

The evidence has been discussed for some time here:
https://bitcointalk.org/index.php?topic=900970.0
https://bitcointalk.org/index.php?topic=857670.0

- Highly inflationary: No. Assuming the release today fixes the price at or above US$20. Not long to wait now. And No, see second part of price support.

Do the math with the hastakers and prime controllers. There is at least 500k of inflation daily. This isn't going to be realized initially because of the unprecedented way in which the stake is locked up by the central issuer and cannot be liquidated. This will eventually place heavy downward pressure upon price. To be fair Bitcoin is also heavily inflationary at around 1.1 million daily but the difference is Bitcoin has the advantage of the network effect and much larger userbase and shortly this inflation will drop from around 10% to 0.5% unlike with paycoin. The 20 base support may eventually be realized or not but will not be sustained because of this long term inflation regardless if you believe in the lie that there is 100 million in investor capital willing to support the coin at 20USD.

- Staking at a higher rate is questionable, yes. Could be part ponzi, but more likely covered by their other income. Could be that they do have hashing power that generates income.
Remember, if they actually make profit (which I'm sure they do), and share part of this profit with the people who help securing the supply of their coin.... it's actually a dividend payout -> not a ponzi.

There will be plenty of people profiting both GAW and original investors. There will be many people who eventually lose everything as well just like with most ponzi's.