Paycoin (XPY) is scam

[inBitweTrust]

Market being manipulated and more delays being orchestrated for the inevitable....

OK - the missing 800 Paycoins are back in the stakers they came from.  A curious thing though - the stakers that were due to expire in 2 days now show as having between 16 and 19 days until expiration, not 2 days, so they won't be participating in the Friday dump.

Personal thoughts of Josh's new developer(Paystand)...
https://bitcointalk.org/index.php?topic=701484.msg8518890#msg8518890

[Piston Honda]

the garbage talk continues and only more ppl will get scammed.

sad.

ppl don't touch this paycoin shit.

[TheMage]

Market being manipulated and more delays being orchestrated for the inevitable....

OK - the missing 800 Paycoins are back in the stakers they came from.  A curious thing though - the stakers that were due to expire in 2 days now show as having between 16 and 19 days until expiration, not 2 days, so they won't be participating in the Friday dump.

Personal thoughts of Josh's new developer(Paystand)...
https://bitcointalk.org/index.php?topic=701484.msg8518890#msg8518890

My thoughts are posted directly under his post in that thread.....I think I was quite eloquent with my response, especially the very last part .

[MadeinCoin]

Xpy began to rise the price reaches 0.003 / Xpy, why do people still believe ??

[inBitweTrust]

Many users are either missing their XPY, or their XPY is frozen in paybase or the hashstakers.

https://www.reddit.com/r/Bitcoin/comments/2zyvvb/paybasecom_has_gone_full_blown_mt_gox_on_everyone

Withdrawals have been stopped for 7 days, GAW refuses to answer why and when they will resume. Josh Garza refuses to answer questions, support threads get closed on hash talk, and if you tweet him, he will block your account.

Additionally, looks as if our cynicism was correct about paystand. Only a few invites as "beta testers" and most long term supporters left out in the cold complaining. If it was supposed to be a limited release beta test why all the hype and the claims to be sending out hundreds of invites and than more on the way which was clearly not true? This was a deliberate pump scheme to manipulate the price and not a responsible beta testing phase.

[shanem]

xpy is dying a slow death. Look at the long term chart and you can see that all the rallies are just dead cat bounces.
Someone is using these rallies to get rid of their huge position in xpy.

[Bansheroom]

Many users are either missing their XPY, or their XPY is frozen in paybase or the hashstakers.

https://www.reddit.com/r/Bitcoin/comments/2zyvvb/paybasecom_has_gone_full_blown_mt_gox_on_everyone

Withdrawals have been stopped for 7 days, GAW refuses to answer why and when they will resume. Josh Garza refuses to answer questions, support threads get closed on hash talk, and if you tweet him, he will block your account. I can’t withdraw bitcoins and they’ve been stuck on PayBase for a week.

Additionally, looks as if our cynicism was correct about paystand. Only a few invites as "beta testers" and most log term supporters left out in the cold complaining. If it was supposed to be a limited release beta test why all the hype and the claims to be sending out hundreds of invites and than more on the way which was clearly not true? This was a deliberate pump scheme to manipulate the price and not a responsible beta testing phase.

Just more FUD and lies from you. Paybase is take care about: https://hashtalk.org/topic/34738/paybase-zencloud-withdraws-deposits/2

And about anyone blocking you on twitter, this may have nothing to do with your tweet, its just you are getting on peoples nerves.

[Crestington]

So some 160 posts in 10 hours on reddit, quite the activity, Josh had better release the coins else things will start to get nasty.

[inBitweTrust]

xpy is dying a slow death. Look at the long term chart and you can see that all the rallies are just dead cat bounces.
Someone is using these rallies to get rid of their huge position in xpy.

We have already proven that Josh is dumping his insta-mine slowly to cash out and fund his operation with blockchain analysis.

Every single pump scheme is having less and less of an effect as all of the early supporters start to see through the lies and false promises. There is absolutely no way for this coin to recover after the series of scandals and justified anger towards paycoin/GAW. The only thing Josh can do is slow the death of this coin with gimmicks(paystand) and with technical difficulties preventing users selling their coins(paybase/hashstakers).

Meanwhile Josh enjoys driving around in his fleet of cars :


He gave back all his money but still has multiple cars for different weather


And at least one is expensive af

[vObh0n]6W]

xpy is dying a slow death. Look at the long term chart and you can see that all the rallies are just dead cat bounces.
Someone is using these rallies to get rid of their huge position in xpy.

We have already proven that Josh is dumping his insta-mine slowly to cash out and fund his operation with blockchain analysis.

Every single pump scheme is having less and less of an effect as all of the early supporters start to see through the lies and false promises. There is absolutely no way for this coin to recover after the series of scandals and justified anger towards paycoin/GAW. The only thing Josh can do is slow the death of this coin with gimmicks(paystand) and with technical difficulties preventing users selling their coins(paybase/hashstakers).

The coinstand thing pumped it around 200% for some time, which was more than any of the previous pumps I remember. Of course, the value is lower now than earlier pumps, but it still went from .002 to .006, and more than 20 btc went into that pump. It's not accurate to say that the newer pumps have a low effect, at least percentage-wise.

[inBitweTrust]

The coinstand thing pumped it around 200% for some time, which was more than any of the previous pumps I remember. Of course, the value is lower now than earlier pumps, but it still went from .002 to .006, and more than 20 btc went into that pump. It's not accurate to say that the newer pumps have a low effect, at least percentage-wise.

Looking at percentages is not a fair manner to gauge whether some new feature(scheme) is turning this ship around or not because with the extremely cheap price it is very easy to briefly pump it 200% with a small amount of BTC (~20) before Josh and other sharks take profits from the gullible.

Obviously, I was suggesting a sustained shift and the fact that it crashed so quickly when most of the hashtaker and paybase XPY was tied up due to "technical difficulties" is even scarier how bad its getting. 2 months ago a paystand like announcement wouldn't have crashed the market so quickly was what I was suggesting.

[vObh0n]6W]

The coinstand thing pumped it around 200% for some time, which was more than any of the previous pumps I remember. Of course, the value is lower now than earlier pumps, but it still went from .002 to .006, and more than 20 btc went into that pump. It's not accurate to say that the newer pumps have a low effect, at least percentage-wise.

Looking at percentages is not a fair manner to gauge whether some new feature(scheme) is turning this ship around or not because with the extremely cheap price it is very easy to briefly pump it 200% with a small amount of BTC (~20) before Josh and other sharks take profits from the gullible.

Obviously, I was suggesting a sustained shift and the fact that it crashed so quickly when most of the hashtaker and paybase XPY was tied up due to "technical difficulties" is even scarier how bad its getting. 2 months ago a paystand like announcement wouldn't have crashed the market so quickly was what I was suggesting.

I think more btc went into this pump than some of the other pumps. The 20 btc was from a sell wall that came down in the beginning, it then went on to double, so probably much more was put in. It's still around the same price as before the coinstand announcement, so it looks like it didn't actually crash too much more. By previous pumps it usually ended up lower after it finished.

(And we weren't talking at all if it was turning around, just whether the pumps were working. Or at least that's what I thought you were saying.)

[inBitweTrust]

(And we weren't talking at all if it was turning around, just whether the pumps were working. Or at least that's what I thought you were saying.)

Ahh, got you.... Well... I don't think these pumps are "working" in either case. Josh and other daytrading sharks were not able to extract as much as they hoped for out of this pump... 10-20BTC max isn't much when you are expected to pay a cut for the scammer who built paystand. They may have even broke even or taken a loss depending upon how many other investors dumped. All of this is under the context of a large chunk of XPY being frozen due to technical difficulties as well. This shows you that even the paycoin holders are both tapped out , dwindling and giving up.

Additionally, you can almost guarantee that most of that pump came from speculative day traders with a bull trap. Only a small percentage of it came from actual paycoin investors let alone new adopters.

[Tauja]

Maybe from 0.01 to 0.002 on bittrex
donw..down.. and down more and hard to up again. 

[vObh0n]6W]

Sooooooo... you believe us now ?

https://www.cryptocoinsnews.com/paybase-stops-withdrawals-josh-garza-disappears/

Haha, claims the current price of paycoin is $0.000805.

[inBitweTrust]

Haha, claims the current price of paycoin is $0.000805.

Sure, he made a mistake about the price, this doesn't invalidate the other concerns raised.

[vObh0n]6W]

Haha, claims the current price of paycoin is $0.000805.

Sure, he made a mistake about the price, this doesn't invalidate the other concerns raised.

The whole article was poorly researched. Nothing new in there, they just felt like they needed to get something out because of the reddit thread yesterday. The twitter link is talking about deposits not withdrawals, the price is wrong, etc.

I could have written a better and more accurate article than that.

Not impressed with CCN. Too little, too late and all that, and they can't even get it right.

[inBitweTrust]

The whole article was poorly researched. Nothing new in there, they just felt like they needed to get something out because of the reddit thread yesterday. The twitter link is talking about deposits not withdrawals, the price is wrong, etc.

I could have written a better and more accurate article than that.

Not impressed with CCN. Too little, too late and all that, and they can't even get it right.

I don't entirely disagree... but it is good they are warning people.

[computerchip]

Maybe its a scam,l dont know.

Oh, it most definitely is.

[inBitweTrust]

Digital Currency Platform PayBase Accused of Absconding with Customers’ Money

http://motherboard.vice.com/read/digital-currency-platform-paybase-accused-of-taking-off-with-customers-money

My bet: Josh eventually "fixes" the problem but another "technical glitch" limits the hashstakers maturing and many balances need to manually be repaired over time.