Paycoin (XPY) is scam

[btcjoin14]

I guess they leave criticism unanswered and let these threads sink. but people are becoming aware.

[BTCwriter]

New - Paycoin Payment Gateway on GoUrl.io

https://gourl.io/paycoin-payment-gateway-api.html

.

Coinpayment.net is the king in this crypto payment gateway. I see PayCoin is trying really hard to get into the lists with other already accepted coins.
https://www.coinpayments.net/vote

[muhrohmat]

ok i will se more of this XPY coin but let me tell you the fact of zen miners clouds going off on cloud for allt and btc makes me realise that stakers are just a thing to be in cloud now and the xpy should go to those 20 dollar per unit.

[Punggawa]

I dont believe paycoin is scam
just i think need new project to up this coin. I think so.

[inBitweTrust]

http://www.coindesk.com/turmoil-gaw-miners-phone-service/

[General_A]

-snip-
Conscientious consumerism does exist.

Conscientious consumerism - I love this term. I love its implications.

[laxsmarts]

yeah when i first saw gaw miners website i could tell it was going to end badly. i could tell because they where using lost of fancy words instead of just explaining exactly what their product did. the most used word was INNOVATION. the way it was typed was trying to make you feel that if you dident buy right now you would lose out. that is a good indication of a scam

[BTCwriter]

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.

I don't expect them to file for bankcruptcy. They will definitely make things up.

Yes, he can dumps all the Paycoins he have and make millions and get away with it, rescue his real businesses. I am expecting more dumps from him/them coming.

[Banjiro]

what happened this coin
u really paycoin is scam? omg
I have this coin, but I buy 0.011 and price now 0.004 loss again. 

[laxsmarts]

what happened this coin
u really paycoin is scam? omg
I have this coin, but I buy 0.011 and price now 0.004 loss again.  

yeah try not to hang on to alt coins for to long. their price will fluctuate. i don't know if it will make it up to .01 again but there is always a chance that it will be pumped again at some point . sorry for you loss i hope you did'ent buy to many

[HarryPotHead]

what happened this coin
u really paycoin is scam? omg
I have this coin, but I buy 0.011 and price now 0.004 loss again.  

yeah try not to hang on to alt coins for to long. their price will fluctuate. i don't know if it will make it up to .01 again but there is always a chance that it will be pumped again at some point . sorry for you loss i hope you did'ent buy to many

There is fluctuate and there is losing more than 50% 

Unlucky buddy i hope it jumps abit so you can get out with a smaller loss

[nachoig]

what happened this coin
u really paycoin is scam? omg
I have this coin, but I buy 0.011 and price now 0.004 loss again.  

Sell this shit before the next crash.

Lies, broken promises of 20 USD floor and merchant adoption, high inflation, centralization of the staking, no serious development, bans and shadowbans on their forum. And they don't accept their own coin.

[cloverme]

http://www.coindesk.com/turmoil-gaw-miners-phone-service/

Amazing... As soon as I read the article yesterday about Josh getting ready to step down and then this article that the whole company is going into FUBAR mode, it's clear to anyone what is about to happen next. I dumped all my XPY this morning, sadly just under $1, hoping for that $20 Honors program is a mistake, it's not going to happen. I have a feeling that XPY is going to be a penny-coin here in short order.  Thanks for the link!

[barabbas]

http://www.coindesk.com/turmoil-gaw-miners-phone-service/

Amazing... As soon as I read the article yesterday about Josh getting ready to step down and then this article that the whole company is going into FUBAR mode, it's clear to anyone what is about to happen next. I dumped all my XPY this morning, sadly just under $1, hoping for that $20 Honors program is a mistake, it's not going to happen. I have a feeling that XPY is going to be a penny-coin here in short order.  Thanks for the link!

You seem to have acted as sharply as usual. But if you feel good about it, I'm very happy for you...

Next time if you give us the heads up just before you pull the trigger, we can benefit knowing, for sure, that's time to buy.

And just like clockwork, trading at 20% above where you sold... ain't that uncanny? actually make that 30%...

[inBitweTrust]

GAW Miners Attorneys Confirm SEC Investigation

On January 19th, Coin Fire exclusively brought you information regarding a Securities and Exchange Commission investigation against GAW Miners and Josh Garza. The documents provided solely to Coin Fire from vetted and confirmed Commission employees detailed an on-going and active investigation against the company, several investors, affiliates, and Mr. Garza.

http://coinfire.io/2015/02/04/gaw-miners-attorneys-confirm-sec-investigation/

[barabbas]

GAW Miners Attorneys Confirm SEC Investigation

On January 19th, Coin Fire exclusively brought you information regarding a Securities and Exchange Commission investigation against GAW Miners and Josh Garza. The documents provided solely to Coin Fire from vetted and confirmed Commission employees detailed an on-going and active investigation against the company, several investors, affiliates, and Mr. Garza.

http://coinfire.io/2015/02/04/gaw-miners-attorneys-confirm-sec-investigation/

What clowns, really.... First of all, Garza has PUBLICLY disclosed that a potential alternative to the Honors Program is possible, even probable since his legal counsel is trying to see if the Honors Program is legally possible to enact, so there's nothing new there. Or Anywhere. The Coinfire "SEC investigation" was, is and remains false as it is clearly taken away just reading those e-mails n which the lawyers WARN that the Honors Program, and the specific word "repurchase" could indeed call the attention of the SEC... how is that a "confirmation"? It's total bullshit, that's what it is, from Coinfire which not only doesn't know what an "investigation" is but doesn't know either what an "inquiry" is. The former, cannot be "against", as the post BY DEFINITION, since and investigation's purpose, again BY DEFINITION, es to find if there's cause or not for prosecution. Or praise.

An "inquiry", on the other hand, is a much wider term that usually, in this context, means that someone has suggested to "look into it", something rarely ever comes no any kind of fruition.

Who are these inept people posting in that ridiculous website, have they even studied one year or journalism? Have they any knowledge whatsoever of the ethics implied? The couldn't publish anything ever, not even in The National Enquirer.

Another piece of shit digital crypto rag looking for crumbs from idiots whose wishful thinking makes them lose even the most elementary sense of logic. Puaghffff!

[inBitweTrust]

Small amount of the victims coming forward discussing their losses:
http://postimg.org/image/wvf4cs9zf/

[cokkapaga]

what happened this coin
u really paycoin is scam? omg
I have this coin, but I buy 0.011 and price now 0.004 loss again.  

yeah try not to hang on to alt coins for to long. their price will fluctuate. i don't know if it will make it up to .01 again but there is always a chance that it will be pumped again at some point . sorry for you loss i hope you did'ent buy to many

Im not sure to buy again, xpy coin need jumps to back up again.
for now I just wait and see.

[inBitweTrust]

It's not a scam, but a coin needs a couple things to succeed like publicity, trust, merchant integration and so on.
In case of paycoin the innitial publicity was good, thus we had an early pump, then the trust kept dropping due to some allegations like premine, no $20 support, problems with the name and almost no merchants accepting the coin. It's still possible for them to bring the price up but it would require some major stores to accept the coin, just as it was promised before the launch.

Allegations? Almost everything we have warned about has been revealed. Josh can instantly secure confidence in the community if he were to simply provide evidence to refute our allegations that he lied to all of you.

Paycoin2 was a stillbirth upon inception and will slowly become a penny stock up until the day the SEC moves in and lawsuits start being filed.

What is sad about this whole scam is that even if it wasn't intended to be a scam it was destined to fail because it is hyperinflationary with too small of a userbase and ultimately controlled by one company unlike bitcoin. Centralized digital currencies are nothing new and all eventually get attacked and shutdown by the government if they don't become co-opted(ripple labs will either be shutdown or co-opted in the future).
Digicash, liberty dollar, liberty reserve, egold, ect... all shutdown. A US government and banks aren't going to allow anybody else to take over the FED and control the "prime controllers" without a fight.

[vObh0n]6W]

It's not a scam, but a coin needs a couple things to succeed like publicity, trust, merchant integration and so on.
In case of paycoin the innitial publicity was good, thus we had an early pump, then the trust kept dropping due to some allegations like premine, no $20 support, problems with the name and almost no merchants accepting the coin. It's still possible for them to bring the price up but it would require some major stores to accept the coin, just as it was promised before the launch.

Allegations? Almost everything we have warned about has been revealed. Josh can instantly secure confidence in the community if he were to simply provide evidence to refute our allegations that he lied to all of you.

Paycoin2 was a stillbirth upon inception and will slowly become a penny stock up until the day the SEC moves in and lawsuits start being filed.

What is sad about this whole scam is that even if it wasn't intended to be a scam it was destined to fail because it is hyperinflationary with too small of a userbase and ultimately controlled by one company unlike bitcoin. Centralized digital currencies are nothing new and all eventually get attacked and shutdown by the government if they don't become co-opted(ripple labs will either be shutdown or co-opted in the future).
Digicash, liberty dollar, liberty reserve, egold, ect... all shutdown. A US government and banks aren't going to allow anybody else to take over the FED and control the "prime controllers" without a fight.

At this point I don't think he can regain trust even with providing evidence that he didn't lie. Imagine if the $100 million really existed but was squandered on dumpers, would anyone still trust him enough to bring xpy back to $20?