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inBitweTrust
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January 29, 2015, 03:48:26 PM |
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Supporters are now coming around to acknowledging our hyper-inflationary concerns we mentioned a month ago- This was posted in response. UK_Hash has done some good analysis in the past. https://hashtalk.org/topic/30504/ EDIT: There's some good stuff in that thread. People getting dangerously close to truth.   |
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BitCoinPokerBro
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January 29, 2015, 03:55:42 PM |
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It's so fun to watch you guys argue  |
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inBitweTrust
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January 29, 2015, 05:50:51 PM |
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Former Information Security Officer for GAW reveals details How Josh hid information from his employees to keep this scam going: https://www.linkedin.com/pub/eric-capuano/13/285/308I will say the following, to address your statement at the end. One thing I am comfortably saying publicly, is that nobody in the company had all the pieces to the puzzle except the one who envisioned it all. It's as if that was the intention all along, only share the bare minimum with whom and of what was needed to build it. Even those of us in the "upper echelon" were totally in the dark on many of the "finer details". I am prepared to show any authority who asks, it was immediately upon learning those finer details that moved my hand on resigning. The only regret I carry is how long it took me to see the big picture.
My leaving had nothing to do with rumors of pending investigations as I had already resigned before that was even a topic. I am not a fool, if there is an investigation underway, my leaving doesn't waive my past involvement. I also know that I can confidently answer to anyone who asks that I always stood by what I felt was right.
Hope you guys are having an awesome week.
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Videlicet
Legendary
 Offline
Activity: 868
Merit: 1058
Creator of Nexus http://nexus.io
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January 30, 2015, 08:44:55 AM |
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Former Information Security Officer for GAW reveals details How Josh hid information from his employees to keep this scam going: https://www.linkedin.com/pub/eric-capuano/13/285/308I will say the following, to address your statement at the end. One thing I am comfortably saying publicly, is that nobody in the company had all the pieces to the puzzle except the one who envisioned it all. It's as if that was the intention all along, only share the bare minimum with whom and of what was needed to build it. Even those of us in the "upper echelon" were totally in the dark on many of the "finer details". I am prepared to show any authority who asks, it was immediately upon learning those finer details that moved my hand on resigning. The only regret I carry is how long it took me to see the big picture.
My leaving had nothing to do with rumors of pending investigations as I had already resigned before that was even a topic. I am not a fool, if there is an investigation underway, my leaving doesn't waive my past involvement. I also know that I can confidently answer to anyone who asks that I always stood by what I felt was right.
Hope you guys are having an awesome week.
And they wish Paycoin's destruction was as spectacular as Rome burning. Shame - Paycoin never even amounted to a pleasant destruction. I hope we learned from this one,Viz. |
[ Nexus] Created by Viz. [ Videlicet] : "videre licet - it may be seen; evidently; clearly" |
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inBitweTrust
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January 30, 2015, 11:35:48 PM
Last edit: January 31, 2015, 12:18:27 AM by inBitweTrust |
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This is just odd and will likely land GAW in a heap of trouble ... why didn't they continue to simply pay out 1 satoshi as a loop hole as they have been to maintain their promise? Always profitable.... Never Obsolete?https://hashtalk.org/topic/30585/zencloud-cloud-mining-disabledAaaand this is where the real lawsuits start. Sorry Homero, you don't tell people something is forever and never obsolete and then take it away and make it completely obsolete beyond reasonable doubt.  |
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barabbas
Legendary
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Activity: 1162
Merit: 1000
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January 31, 2015, 12:45:17 AM |
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This is just odd and will likely land GAW in a heap of trouble ... why didn't they continue to simply pay out 1 satoshi as a loop hole as they have been to maintain their promise? Always profitable.... Never Obsolete?https://hashtalk.org/topic/30585/zencloud-cloud-mining-disabledAaaand this is where the real lawsuits start. Sorry Homero, you don't tell people something is forever and never obsolete and then take it away and make it completely obsolete beyond reasonable doubt. HurrY up, get on the horn with a few ambulance chasers, this is solid ground for a Class ACTION!!! Wow, just wow... |
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jt byte
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February 01, 2015, 05:29:54 AM |
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all those thousands of people who bought in thinking they are going to make a fortune like btc' s early adopters, are going to get burnt
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inBitweTrust
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February 01, 2015, 07:43:22 PM |
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New - Paycoin Payment Gateway on GoUrl.io
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Very interesting that you post your support of paycoin in the scam thread instead of any other thread. Huge mistake or are you in favor of supporting scams? |
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inBitweTrust
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February 01, 2015, 08:09:58 PM |
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Thanks for the clarification. Your support of paycoin can be attributed either to indifference to supporting unethical companies and the harm they do to society or just being indifferent to properly researching coins before adding support. I will be sure to avoid using your service and will recommend others to steer clear of you as well. Conscientious consumerism does exist. |
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ivankoh
Full Member
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Activity: 1428
Merit: 120
Sugars.zone | DatingFi - Earn for Posting
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February 02, 2015, 10:44:18 AM |
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Agree with the title. If you support XPY you support Fraud. Proven largest scam and fraud after mtgox. He remove the honor program. Lies after lies. All the plan is no plan what credit card purchase or debit card or amazon etc. Nothing. Probably Josh is not even his real name.
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altcoinUK
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February 02, 2015, 11:01:34 AM
Last edit: February 02, 2015, 01:10:48 PM by altcoinUK |
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I stayed away from this and know very little about the coin, out of sheer curiosity, could anyone let me know how much the GAW CEO has collected from selling Paycoin? I read somewhere it was around $ 30 million, is that really what he has received?
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rokkyroad
Legendary
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Activity: 1090
Merit: 1000
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February 02, 2015, 04:24:50 PM |
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I stayed away from this and know very little about the coin, out of sheer curiosity, could anyone let me know how much the GAW CEO has collected from selling Paycoin? I read somewhere it was around $ 30 million, is that really what he has received?
I don't think anyone has been able to pin down the numbers. Paycoin was PRE-MINED with a small portion set aside for miners. There was also an IPO/ICO that ran for months. Not to mention the high percentage rates of coins produced by Orion controllers. I heard it was up to 3000% when it should have been max of 350%. That is why PRE-MINE and ICO/IPO/ITO are dirty words in the cryptocurrency world. It is too easy for unscrupulous developers to put their fingers in the cookie jar. |
" If you have to spam and shout to justify your existence then you are a shit coin." TaunSew
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altcoinUK
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February 02, 2015, 04:52:19 PM |
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I stayed away from this and know very little about the coin, out of sheer curiosity, could anyone let me know how much the GAW CEO has collected from selling Paycoin? I read somewhere it was around $ 30 million, is that really what he has received?
I don't think anyone has been able to pin down the numbers. Paycoin was PRE-MINED with a small portion set aside for miners. There was also an IPO/ICO that ran for months. Not to mention the high percentage rates of coins produced by Orion controllers. I heard it was up to 3000% when it should have been max of 350%. That is why PRE-MINE and ICO/IPO/ITO are dirty words in the cryptocurrency world. It is too easy for unscrupulous developers to put their fingers in the cookie jar. Are you saying there is no blockchain explorer, one that would clearly state how many coins were premined, mined, created from thin air, etc. and how many was sold and when? As for the ICO/IPO/ITO - I couldn't agree more, it destroys the crypto market before it could mature. |
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rokkyroad
Legendary
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Activity: 1090
Merit: 1000
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February 02, 2015, 05:07:39 PM |
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Vancefox did an analysis on the paycoin blockchain. Here is one of his posts which pretty well sums it up. https://bitcointalk.org/index.php?topic=857670.msg10146342#msg10146342Just start from block one and look where the coins go... They split all the way down and whenever a dispersal happens the leftover goes to a completely new address. This premine dispersal script, in my opinion, is designed to make it difficult to see exactly how many coins were not allocated to either "primes" or hashpoint conversions.
There very well may be tens of thousands, or hundreds of thousands, of XPY spread out in small 100 coin or less balances that are being used to create pure profit through PayBase credit card purchases and/or slowly dripping into the exchanges.
This is my main concern about the long term viability of this coin. There is absolutely no accounting for all 12 million coins. Paycoin appears to be a well executed scam plan from the start. |
" If you have to spam and shout to justify your existence then you are a shit coin." TaunSew
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Deadstock
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February 02, 2015, 05:25:21 PM |
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All this unfolding and yet the hashtalk cultists are still doing everything they can to verbally please Josh Garza..its sad
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rokkyroad
Legendary
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Activity: 1090
Merit: 1000
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February 02, 2015, 05:49:43 PM |
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Looking at the train of events in the last 2 months; especially the sell off of hardware and closure of zencloud mining; one should now expect Gaw to file for bankruptcy.
Bankruptcy will protect him from litigation(for the most part) and he will be able to move on with little consequence. No one will know how much he milked from paycoin and it will be impossible to track.
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" If you have to spam and shout to justify your existence then you are a shit coin." TaunSew
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bitgeek
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February 03, 2015, 01:16:31 PM |
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All this unfolding and yet the hashtalk cultists are still doing everything they can to verbally please Josh Garza..its sad
He's the face of the company but not the only person responsible, he also invested his private money in this. |
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