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Author Topic: Paycoin (XPY) is scam  (Read 79512 times)
dhimasnk
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March 23, 2015, 09:25:45 PM
 #801

I bought XPY because thinking has a great future, but it ended up a scam, I really regret having bought

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POM
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March 23, 2015, 10:09:45 PM
 #802

I bought XPY because thinking has a great future, but it ended up a scam, I really regret having bought
what price did you buy in?
EvilDave
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March 23, 2015, 11:10:45 PM
 #803

Maybe its a scam,l dont know.
Oh, it most definitely is.

Look at it this way:
Based on a massive amount of evidence, (ie everything that has ever happened with it)  PayCoin is either a huge scam, or an equally massive fuck-up.
Either way, it doesn't look like a good project to put any of your cash, BTC, or faith into.

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hazenyc
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March 24, 2015, 01:22:58 AM
 #804

Maybe its a scam,l dont know.
Oh, it most definitely is.

Look at it this way:
Based on a massive amount of evidence, (ie everything that has ever happened with it)  PayCoin is either a huge scam, or an equally massive fuck-up.
Either way, it doesn't look like a good project to put any of your cash, BTC, or faith into.

So why does 1 XPY still = 0.002 BTC?! That is a mighty high valuation for a shitcoiN!
inBitweTrust
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March 24, 2015, 01:30:19 AM
Last edit: March 24, 2015, 01:44:05 AM by inBitweTrust
 #805

So why does 1 XPY still = 0.002 BTC?! That is a mighty high valuation for a shitcoiN!

Non Sequitur. Market price has no relevance as an indication if something is a scam or not. This is especially true for insta-mined coined where most of it is held by the creator and locked up with various schemes(hashstakers) and "technical problems".

Any dev can create a shitcoin that has a higher market cap or valuation than bitcoin if they manipulate and control the volume.

Go ahead and trade away if you are credulous though:

https://www.youtube.com/watch?v=3gfntBEI3Aw

You should have the right to make foolish investments as we have a right to warn people of potential scams.

Is this a pathetic attempt to troll or are you just trying to pump the price because you are daytrading XPY despite thinking it is a scam?


inBitweTrust
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March 24, 2015, 02:50:40 AM
 #806

http://siliconangle.com/blog/2015/03/23/bitcoin-to-altcoin-provider-paybase-stops-withdrawals-accused-of-going-full-blown-mt-gox/

POM
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March 24, 2015, 06:23:59 AM
 #807

the bandwagon finally about to get goxxed by scamza? lol
EvilDave
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March 24, 2015, 09:12:21 AM
 #808

Maybe its a scam,l dont know.
Oh, it most definitely is.

Look at it this way:
Based on a massive amount of evidence, (ie everything that has ever happened with it)  PayCoin is either a huge scam, or an equally massive fuck-up.
Either way, it doesn't look like a good project to put any of your cash, BTC, or faith into.

So why does 1 XPY still = 0.002 BTC?! That is a mighty high valuation for a shitcoiN!

As iBwT put it, market price is irrelevant at this stage of crypto development.
Because of low trade volumes (when compared to 'real' markets, like oil ), anyone with a small handful of cash can manipulate the market price of most crypto-currencies.
PayCoin traded $94,000 USD in the last 24.....assuming that no-one else buys in, one investor would only have to pump a hundred grand into XPY to maintain (or slightly raise) its current $8 million market cap.

But: because other people do buy in when they see a price rise, any money going into the pump can be pulled back by sales of that $8 million market cap to credulous investors.
Obviously, no-one can afford to run this sort of manipulation for a long time, which is why we see fast rises followed by slow drops in the price: a pumped spike every few days followed by another slow sell off.
It's a margin-based game: if your $100,000 pump in to a coin gives you enough time to sell off $110,000 worth of your coin stocks...you're having a good day.

Last point on PayCoin price: one of the main selling points of PayCoin was the guarantee from JG/GAW/etc that Paycoin would trade at a minimum of $20 shortly after launch, and that JG+whoever would support that by placing a buy wall at $20.  Or did I hallucinate that bit ?
Compared to $20, $0.55 looks kind of crappy, and there seem to be some XPY investors who are unhappy about this.

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BootstrapCoinDev
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March 24, 2015, 10:49:06 AM
 #809

The easiest way to spot a potential scam is when people qualify their loyalty based on the amount of money they have made from it. This is how a Ponzi gains acceptance- I made a lot of money so they must be legit its exactly how a Ponzi works to win minds.
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March 24, 2015, 03:55:43 PM
 #810

Last point on PayCoin price: one of the main selling points of PayCoin was the guarantee from JG/GAW/etc that Paycoin would trade at a minimum of $20 shortly after launch, and that JG+whoever would support that by placing a buy wall at $20.  Or did I hallucinate that bit ?
Compared to $20, $0.55 looks kind of crappy, and there seem to be some XPY investors who are unhappy about this.

According to Mr.Garza, you and the entire interwebs hallucinated that.



http://www.coindesk.com/gaw-miners-paycoin-disappearing-20-floor/

MrDjAK
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March 24, 2015, 04:51:15 PM
 #811

I have problem wit block 8045,wallet is stuck.I have reinstall wallet,fresh install,delete wallet,delete all folder,delete blk0001.dat....Any help?
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March 24, 2015, 05:50:17 PM
 #812

I have problem wit block 8045,wallet is stuck.I have reinstall wallet,fresh install,delete wallet,delete all folder,delete blk0001.dat....Any help?


Try this. At your own risk. If you get infected or have all your coins stolen - not my fault.

https://hashtalk.org/topic/34858
MrDjAK
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March 25, 2015, 08:24:35 AM
 #813

I have problem wit block 8045,wallet is stuck.I have reinstall wallet,fresh install,delete wallet,delete all folder,delete blk0001.dat....Any help?


Try this. At your own risk. If you get infected or have all your coins stolen - not my fault.

https://hashtalk.org/topic/34858
Thank you
Bansheroom
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March 25, 2015, 11:18:43 AM
 #814


https://hashtalk.org/topic/34941/a-must-read

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March 25, 2015, 11:52:10 AM
 #815


"We are not associated with these companies beyond personal & private holdings of Hashstakers, Zen Hashlets and XPY Paycoin, and are not paid by these companies."

I stopped reading there. They have a vested interest in not losing the money they've plugged into the various projects, so it is impossible to take what they say as untainted and unbiased.

inBitweTrust
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March 25, 2015, 12:47:16 PM
 #816

Hyper inflation again-



 342,000 new xpy generated instantly!
https://chainz.cryptoid.info/xpy/#@inflation


Paybase users still cannot make withdrawals and Zencloud users cannot make deposits. There has been suggestions that this is being fixed over the last day and a backlog is being cleared as we speak but from reading sites like hashtalk there is little to no indication that anyone tickets are being fulfilled and that any "backlog" is being processed. Either way, when those coins hit the market all hell is going to break loose.

Bansheroom
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March 25, 2015, 04:37:36 PM
 #817

Hyper inflation again-



 342,000 new xpy generated instantly!
https://chainz.cryptoid.info/xpy/#@inflation


Paybase users still cannot make withdrawals and Zencloud users cannot make deposits. There has been suggestions that this is being fixed over the last day and a backlog is being cleared as we speak but from reading sites like hashtalk there is little to no indication that anyone tickets are being fulfilled and that any "backlog" is being processed. Either way, when those coins hit the market all hell is going to break loose.

from
https://hashtalk.org/topic/34922/inflation-is-back/4

Gaw prime controllers that were previously staking at 350% were turned back on (5-6 hrs ago) and received a 19,000 + stake payment each to cover the 12 days they were turned off

https://chainz.cryptoid.info/xpy/#!wallets

2e7ee98ea4044eca... 113781 2015-03-25 05:32:27 + 19,975.117937 XPY 166,409.117937 XPY
d587cf820b937386... 95081 2015-03-10 23:57:29 + 146,434.0 XPY 146,434.0 XPY

https://chainz.cryptoid.info/xpy/address.dws?244239.htm

approx 18 pc's x 19,000 coins generated = 342,000 xpy

Always get cryptonews, free bitcoins, free altcoins and free mining opportunities: follow @Bansheroom on Twitter
inBitweTrust
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March 25, 2015, 09:32:14 PM
 #818

Its finally happening. The wheels of justice move slowly but the day of reckoning is upon Josh and GAW.

Original SEC Subpoena:
https://archive.today/qKW22


PayCoin Foundation, led by Mr. Adam Matlack, is now under a multi-agency investigation due to connections to Mr. Homero Joshua Garza. Civil and criminal proceedings are advancing and all paycoin investors will be scrutinized by multiple agencies including the IRS.

http://coinfire.io/2015/03/25/paycoin-foundation-adam-matlack-under-us-investigation/

Search and Seizure warrant directed at GAW, Paycoin, and Josh:




inBitweTrust
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March 26, 2015, 12:00:45 AM
 #819

Delay tactic? Ploy to gain sympathy with all the negative press? Excuse for paybase not allowing withdrawls for over a week?

https://hashtalk.org/topic/34947/wallet-paycoin-com-security-breach-update
Wallet.Paycoin.com - Security Breach-UPDATE

If it is real than it reflects sloppy security.

Shocked

http://coinfire.io/2015/03/25/paycoin-foundation-adam-matlack-under-us-investigation/

That is some very very very serious shit.That is a search warrant, does not get any worse than that. Quick checking Google's Privacy Policy, takes serious shit just got real for them to keel over and hand them this information.  Good Luck to the so-called "Paycoin Foundation" and all its minions, your lives are about to become living hell. It was all fun and games early on until real people started getting hurt....

https://www.google.com/transparencyreport/userdatarequests/legalprocess/#what_does_google_do

Quote
What's the difference between a subpoena, a search warrant and a court order under ECPA?

And what information can a government agency get from Google with each?

It's complex, but here's a summary of the different forms of legal process covered by ECPA:

Subpoena

Of the three types of ECPA legal process for stored information, the subpoena has the lowest threshold for a government agency to obtain. In many jurisdictions, including the federal system, there is no requirement that a judge or magistrate review a subpoena before the government can issue it. A government agency can use a subpoena to compel Google to disclose only specific types of information listed in the statute. For example, a valid subpoena for your Gmail address could compel us to disclose the name that you listed when creating the account, and the IP addresses from which you created the account and signed in and signed out (with dates and times). Subpoenas can be used by the government in both criminal and civil cases.

On its face, ECPA seems to allow a government agency to compel a communications provider to disclose the content of certain types of emails and other content with a subpoena or an ECPA court order (described below). But Google requires an ECPA search warrant for contents of Gmail and other services based on the Fourth Amendment to the U.S. Constitution, which prohibits unreasonable search and seizure.

ECPA Court Order

Unlike an ECPA subpoena, obtaining an ECPA court order requires judicial review. To receive an ECPA court order, a government agency must present specific facts to a judge or magistrate demonstrating that the requested information is relevant and material to an ongoing criminal investigation.
With such a court order, a government agency can obtain the same information as a subpoena, plus more detailed information about the use of the account. This could include the IP address associated with a particular email sent from that account or used to change the account password (with dates and times), and the non-content portion of email headers such as the "from," "to" and "date" fields. An ECPA court order is available only for criminal investigations.

Search Warrant

The threshold is higher still for an ECPA search warrant. To obtain one, a government agency must make a request to a judge or magistrate and meet a relatively high burden of proof: demonstrating "probable cause" to believe that contraband or certain information related to a crime is presently in the specific place to be searched. A warrant must specify the place to be searched and the things being sought. It can be used to compel the disclosure of the same information as an ECPA subpoena or court order—but also a user's search query information and private content stored in a Google Account, such as Gmail messages, documents, photos and YouTube videos. An ECPA search warrant is available only in criminal investigations. The video below provides an overview of how we review and respond to ECPA search warrants.

rrocket66
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March 26, 2015, 12:38:42 AM
 #820

Its finally happening. The wheels of justice move slowly but the day of reckoning is upon Josh and GAW.



LOL, I am a new member and will probably be ignored, But I stumbled across this thread and read it mostly. Doesn't that picture look ODDLY photoshopped. I am not arguing XPY is a scam or whatever, we all have our opinions but, really? A photoshopped GOVT doc? How can anyone take that serious? Besides that carry on!  Cool
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