All The Crap that GAW Has Been Doing [CENSORING INFORMATION AND LYING]

[Bitcoinlover123]

   Im pretty sure you've all heard about Josh's new escrow plan for PayCoin. Josh has tried to hype this, but it's obviously not working. If you have no idea what i'm talking about, just google it.

   The escrow system will begin on February 1st. I am begging the cryptocoin community to not fall for another trap by GAW. You invested your time and well earned money into PayCoin with the hopes of getting a profit in the end. Well that obviously did not happen. Did GAW suffer? No. Did Josh suffer? No. They blamed the community for their errors.

    I've created my own saying about GAW. When I see someone making promises I tell them to not pull a GAW. If something is to good to be true, it probably isn't.

    Remember the VISA partnership? I bet you forgot about that. What happened to the Paycoin Card? Josh has lied and failed to deliver on his promises. He sounds more like a politician.
  
    Do not fall for these lies. You can criticize me about my opinions but these are true. I made a a post on hashtalk talking about the scams and I was instantly banned and my post was removed. GAW censors post that they don't want others to see. I don't believe in Internet Censorship. Information should be free. Someone that censors information has something to hide or is embarrassed about it.

    Do you really want to spend more time and money on this? If a president completely failed his first term, would you re-elect him? GAW and Josh have lied to you over and over again. They continue to do it because they see you as gullible. Don't do something that you will regret in the future. GAW wants to take your money again. Don't do this escrow. Let Josh know how you feel about everything he has done. I have given you the information. The rest, is up to you.

[remonade]

  Im pretty sure you've all heard about Josh's new escrow plan for PayCoin. Josh has tried to hype this, but it's obviously not working. If you have no idea what i'm talking about, just google it.

   The escrow system will begin on February 1st. I am begging the cryptocoin community to not fall for another trap by GAW. You invested your time and well earned money into PayCoin with the hopes of getting a profit in the end. Well that obviously did not happen. Did GAW suffer? No. Did Josh suffer? No. They blamed the community for their errors.

    I've created my own saying about GAW. When I see someone making promises I tell them to not pull a GAW. If something is to good to be true, it probably isn't.

    Remember the VISA partnership? I bet you forgot about that. What happened to the Paycoin Card? Josh has lied and failed to deliver on his promises. He sounds more like a politician.
  
    Do not fall for these lies. You can criticize me about my opinions but these are true. I made a a post on hashtalk talking about the scams and I was instantly banned and my post was removed. GAW censors post that they don't want others to see. I don't believe in Internet Censorship. Information should be free. Someone that censors information has something to hide or is embarrassed about it.

    Do you really want to spend more time and money on this? If a president completely failed his first term, would you re-elect him? GAW and Josh have lied to you over and over again. They continue to do it because they see you as gullible. Don't do something that you will regret in the future. GAW wants to take your money again. Don't do this escrow. Let Josh know how you feel about everything he has done. I have given you the information. The rest, is up to you.

You are right. After all the lies and broken promises how can anyone trust GAW? GAW will go bankrupt long before anyone gets their money. It will be a nice and clean exit for the GAW with a nice stash somewhere.

Everyone knows how easy it is to cook the books with altcoins. Every scammer has gotten away with it somehow. Even the outright thieves walk away laughing.

Let's face it, altcoins are a license to steal.

[Fargo]

  Im pretty sure you've all heard about Josh's new escrow plan for PayCoin. Josh has tried to hype this, but it's obviously not working. If you have no idea what i'm talking about, just google it.

   The escrow system will begin on February 1st. I am begging the cryptocoin community to not fall for another trap by GAW. You invested your time and well earned money into PayCoin with the hopes of getting a profit in the end. Well that obviously did not happen. Did GAW suffer? No. Did Josh suffer? No. They blamed the community for their errors.

    I've created my own saying about GAW. When I see someone making promises I tell them to not pull a GAW. If something is to good to be true, it probably isn't.

    Remember the VISA partnership? I bet you forgot about that. What happened to the Paycoin Card? Josh has lied and failed to deliver on his promises. He sounds more like a politician.
  
    Do not fall for these lies. You can criticize me about my opinions but these are true. I made a a post on hashtalk talking about the scams and I was instantly banned and my post was removed. GAW censors post that they don't want others to see. I don't believe in Internet Censorship. Information should be free. Someone that censors information has something to hide or is embarrassed about it.

    Do you really want to spend more time and money on this? If a president completely failed his first term, would you re-elect him? GAW and Josh have lied to you over and over again. They continue to do it because they see you as gullible. Don't do something that you will regret in the future. GAW wants to take your money again. Don't do this escrow. Let Josh know how you feel about everything he has done. I have given you the information. The rest, is up to you.

You are right. After all the lies and broken promises how can anyone trust GAW? GAW will go bankrupt long before anyone gets their money. It will be a nice and clean exit for the GAW with a nice stash somewhere.

Everyone knows how easy it is to cook the books with altcoins. Every scammer has gotten away with it somehow. Even the outright thieves walk away laughing.

Let's face it, altcoins are a license to steal.

This is very true, hopefully there is some truth to the reported SEC investigation.

[Lambs to Slaughter]

I do believe GAW started out good but got greedy. I hope they deliver. If not it (paycoin) will be another altcoin in the trash heap.

[DaveWave]

Josh has now said in this thread
https://hashtalk.org/topic/30401/honors-program-q-a/126
that he doesn't believe Paycoin will be worth $20 within 12 months. Big change on his part, it's like he wants you to put all your coins in escrow. (Escrow means Josh's wallet.)

So the terms are announced of 1st Feb, you then get 30 days to commit how ever much you want to the scheme. Once sent you can't get them back.

He will then split $100k worth of bitcoin per month pro-rata.

Being the honest person he is (lol) I expect these payments won't actually start until May so he can keep on dumping for as long as possible. If enough users are stupid, he might be able to make more money dumping then he does actually paying these $20 refunds per month.

Don't forget, the only person who knows how much is in escrow is Josh, so he might only be spending $10k a month. Obviously users will be all happy and saying Josh is our saviour and we are all getting our money. Meanwhile Josh is dumping more coins from his pre-mine and spending some of the windfall on buying back a tiny fraction of the escrow coins. So long as Josh is making more money from dumping then the refund he can keep this going for ever.

Anyway, at some point there will be more paycoins in the system cos he keeps dumping them, the price will not go up. This is where phase 2 comes in. He will give everyone the opportunity to join a new escrow buyback.

Now it doesn't take a genius to work out that Josh can't pay people $20 dollars that only paid him $5 or so for the privilege. But while his outgoings are less than his income he can continue to build his personal wallet.

Guy is a genius. Enron has come to the Altcoin market.

[unusualfacts30]

"They hate us cause they ain't us" - Josh Garza

[Bansheroom]

  Im pretty sure you've all heard about Josh's new escrow plan for PayCoin. Josh has tried to hype this, but it's obviously not working. If you have no idea what i'm talking about, just google it.

   The escrow system will begin on February 1st. I am begging the cryptocoin community to not fall for another trap by GAW. You invested your time and well earned money into PayCoin with the hopes of getting a profit in the end. Well that obviously did not happen. Did GAW suffer? No. Did Josh suffer? No. They blamed the community for their errors.

    I've created my own saying about GAW. When I see someone making promises I tell them to not pull a GAW. If something is to good to be true, it probably isn't.

    Remember the VISA partnership? I bet you forgot about that. What happened to the Paycoin Card? Josh has lied and failed to deliver on his promises. He sounds more like a politician.
  
    Do not fall for these lies. You can criticize me about my opinions but these are true. I made a a post on hashtalk talking about the scams and I was instantly banned and my post was removed. GAW censors post that they don't want others to see. I don't believe in Internet Censorship. Information should be free. Someone that censors information has something to hide or is embarrassed about it.

    Do you really want to spend more time and money on this? If a president completely failed his first term, would you re-elect him? GAW and Josh have lied to you over and over again. They continue to do it because they see you as gullible. Don't do something that you will regret in the future. GAW wants to take your money again. Don't do this escrow. Let Josh know how you feel about everything he has done. I have given you the information. The rest, is up to you.

You posted the usual FUD without any proof and your post on hashtalk was deleted and you have been banned for a reason.

[DaveWave]

You posted the usual FUD without any proof and your post on hashtalk was deleted and you have been banned for a reason.

The only FUD is what Josh says.

Think about it.

How much did people pay for paycoin on average? This is for new coins not those but on the resale market. But should also include coins that Josh dumped. I reckon maybe $5

How is he going to pay $20 when he only got $5 for each coin in general circulation.

He's not, simple. There is a catch somewhere, you don't seem to have worked it out yet.

[runpaint]

I do believe GAW started out good but got greedy. I hope they deliver. If not it (paycoin) will be another altcoin in the trash heap.

They started good but BTC price drop caught them with their pants down

No, they did not start out good, from everything I've read.

They started out taking orders for mining hardware they didn't have, and my understanding is that they just took the money, bought Zeus miners (maybe mined with them a while before shipping), then shipped some of those Zeus miners to people and called them GAW miners.

But then they kept taking orders for hardware and stopped shipping hardware.  After people waited a few months to receive the hardware they had already paid for, GAW eventually told them "You're not getting any hardware, but you can have these imaginary hashlets instead."

But the hashlets didn't exist, it was a ponzi scheme where they paid out a little bit at a time to make people think they were earning money.  But it was just "Give me $3,000 and I'll give you back a few dollars a day of your own money".

So it couldn't last forever;  eventually the money would run out...unless they could convince everyone to "convert" their hashlets into Hashcoins, Paycoins, HashStakers, and other made-up b.s. that GAW can create out of thin air. 

So GAW kept the dollars, GAW kept the bitcoins, and they made up a new worthless money to give people instead.  And people accepted it, based on false promises such as "guaranteed $20 price" and "XPY debit card" and "major retailer acceptance" and "Paybase services" and things like that.  You know, basically fraud.


So at what point was it a legitimate business of any kind?  Wasn't it all a scam from the start, which just kept morphing into different kinds of scams?

If any of my facts are incorrect, please tell us what really happened.

[nomoreheroes7]

I do believe GAW started out good but got greedy. I hope they deliver. If not it (paycoin) will be another altcoin in the trash heap.

They started good but BTC price drop caught them with their pants down

No, they did not start out good, from everything I've read.

They started out taking orders for mining hardware they didn't have, and my understanding is that they just took the money, bought Zeus miners (maybe mined with them a while before shipping), then shipped some of those Zeus miners to people and called them GAW miners.

But then they kept taking orders for hardware and stopped shipping hardware.  After people waited a few months to receive the hardware they had already paid for, GAW eventually told them "You're not getting any hardware, but you can have these imaginary hashlets instead."

But the hashlets didn't exist, it was a ponzi scheme where they paid out a little bit at a time to make people think they were earning money.  But it was just "Give me $3,000 and I'll give you back a few dollars a day of your own money".

So it couldn't last forever;  eventually the money would run out...unless they could convince everyone to "convert" their hashlets into Hashcoins, Paycoins, HashStakers, and other made-up b.s. that GAW can create out of thin air. 

So GAW kept the dollars, GAW kept the bitcoins, and they made up a new worthless money to give people instead.  And people accepted it, based on false promises such as "guaranteed $20 price" and "XPY debit card" and "major retailer acceptance" and "Paybase services" and things like that.  You know, basically fraud.


So at what point was it a legitimate business of any kind?  Wasn't it all a scam from the start, which just kept morphing into different kinds of scams?

If any of my facts are incorrect, please tell us what really happened.

This guy gets it. Not sure how anyone can't see this...

[rokkyroad]

Gaw never intended Paycoin to succeed. It is a well executed exit plan.

There are questions about the existence of Gaw mining farms in the first place. Did Gaw sell cloud mining with the idea to build the infrastructure from proceeds of hashlets? Maybe at first but why put the money into a dead horse when btc prices were falling low.

So Gaw is stuck with having to supply payouts to hashletminers while not bringing in enough money to support payouts unless delving into capital. Hashlets brought in a shitload of money. Why not improvise on the same theme?  Paycoin is born in Sept.

So they get the majority of their hashletminers mining hashpoints for months with the promise of riches. A feature filled Paybase with hundreds of merchants on board will arrive in Dec. And, yes, Paycoin will be worth $20 and that is a promise. People will be able to cash in their paycoins at Paybase for $20 and that is a promise.

In the meantime a once in a lifetime offer to exchange hashlets for hashstakers happens. Most everyone jumps on board. $20 Paycoins! Wow! Not only does Gaw get people to convert hashlets to hashstakers they sell a shitload of hashstakers.  

So... the time for Paybase to open nears. Paybase is delayed a couple times. In the meantime Gaw starts backtracking on promises. Incriminating posts, and threads are deleted on hashtalk. Dissenters are banned and shadow banned.

Finally Paybase opens. Guess what? No merchants, no Amazon, no Walmart, squat. No $20 buy back. It is a very basic website for exchanging Paycoin and btc.  Three months for this! Come on. Where did all the money go? Where is the 100 million Coin Adoption Fund? LOL.  

Everyone knows how easy it is to cook the books with altcoins. Every scammer has gotten away with it somehow. Even the outright thieves walk away laughing.

Paycoin did what it was supposed to do. Pump & Dump. It will die off and leave behind a wake of unhappy bagholders like so many other coin scams schemes we have witnessed. Gaw will have a pocket full of money don't worry.

Now we have the "honor payback" or whatever they call it. Another scheme to satisfy the unhappy-about-the-$20-floor crowd. Good luck with that. Recent Gaw history tells us bagholders are never going to see their money back.

The end.

[Propulsion]

It's stupidly simple: If it's too good to be true, it probably is.

Premises of Paycoin: buy one at less than $20 and receive $20 later for one guaranteed! <-- read first sentence.

[runpaint]

No, they did not start out good, from everything I've read.

They started out taking orders for mining hardware they didn't have, and my understanding is that they just took the money, bought Zeus miners (maybe mined with them a while before shipping), then shipped some of those Zeus miners to people and called them GAW miners.

Where did you read that? Their hardware based on zeus chips was custom painted and also tweaked because it had slightly different parameters. This means they ordered it and had it made before selling to customers. The only miner they did not have and you had to pre-order was vaultbreaker.

Out of all the people who ordered hardware, how many of them ever received the hardware?

For the people who did receive hardware, how many months did they have to wait before they received it?

[barabbas]

I do believe GAW started out good but got greedy. I hope they deliver. If not it (paycoin) will be another altcoin in the trash heap.

They started good but BTC price drop caught them with their pants down

No, they did not start out good, from everything I've read.

They started out taking orders for mining hardware they didn't have, and my understanding is that they just took the money, bought Zeus miners (maybe mined with them a while before shipping), then shipped some of those Zeus miners to people and called them GAW miners.

But then they kept taking orders for hardware and stopped shipping hardware.  After people waited a few months to receive the hardware they had already paid for, GAW eventually told them "You're not getting any hardware, but you can have these imaginary hashlets instead."

But the hashlets didn't exist, it was a ponzi scheme where they paid out a little bit at a time to make people think they were earning money.  But it was just "Give me $3,000 and I'll give you back a few dollars a day of your own money".

So it couldn't last forever;  eventually the money would run out...unless they could convince everyone to "convert" their hashlets into Hashcoins, Paycoins, HashStakers, and other made-up b.s. that GAW can create out of thin air. 

So GAW kept the dollars, GAW kept the bitcoins, and they made up a new worthless money to give people instead.  And people accepted it, based on false promises such as "guaranteed $20 price" and "XPY debit card" and "major retailer acceptance" and "Paybase services" and things like that.  You know, basically fraud.


So at what point was it a legitimate business of any kind?  Wasn't it all a scam from the start, which just kept morphing into different kinds of scams?

If any of my facts are incorrect, please tell us what really happened.

I wouldn't know if your "facts" are correct or not for the simple reason there aren't any in your post... And, mind you, I don't say this as a bad thing -as you will find out below-, but as a matter of simple FACT. What you do is SPECULATE -and quite orderly so- and elaborate on what you believe to have been a scam, or ponzi scheme, from the get go... which is quite possible.

There are a few things that don't check out though, not completely. First and foremost, all that I read negative to Gaw, Garza or Paycoin, comes from a few individuals, you included. Less than half a dozen, who post basically the same theories here in BTCT. One would reasonably expect that if people has been giving big amounts of money, thousands at a time, to Gaw over many months if not more than a year and getting nothing or almost nothing in return, by now we would have quite a few quite angry people being quite vocal everywhere about the "scam", don't you think?

And oh yes I know only too well the kid of mass blindness that can occur in crypto when greedy, deluded people act -or stay silent- because they believe that bringing up the truth will cause them to lose more money, meaning sinking Paycoin even lower. I still believe that out of hundreds if not thousands of people, you would find at least a few dozens of unsatisfied customers\... to put it mildly. Where are those? Don't you think that if a lot of people who bought miners wouldn't have received the hardware at all, they would come forward and say so? Even if they were convinced that non-existent hashlets would cover their investment, many of them would protest EVEN IF THE SCHEME was true and favored them in the short and the long run. Miners are very peculiar people: They want their hardware. They want to touch it. They want to worship it. They want to warm their garages with it. They want to break up with their living companions because of it. They want to jerk off near them... and yet, I can't find anyone protesting angrily. That tells me they are rather satisfied customers. Not only that: Satisfied customers ready and willing to follow Garza and his projects by bringing in more money to invest. And yet, at this point, with the price of PayCoin in the gutter, they still, massively, support and believe in anything Garza says... ALL of them, not just a few, not even just a majority but ALL of them... while the only ones describing scam in all shorts of speculative ways, are just a half dozen guys who, by their own admission, never bought anything from GAW nor invested in Paycoin. I'm sure you see my problem with your scenario...

And, like I said above, the FACT that you don't have any facts but speculation, is NOT something that will put me off at all. As I have explained, I am quite familiar with the kind of amoral, greedy blindness infecting ALL of crypto that would silence quite a bit of the vast majority, regardless. If you read my THE WALL OF SHAME, you'll see that I fully support reasoned speculation to counter the shameful activities of so many in Cryptoland and try to protect the naive and/or new to digital currencies. But, as mentioned above, the reasoning in your speculation is flawed in my view. In other words: By this time, if your speculation was even remotely close to the truth, the clamor would be of humongous proportions and Garza would be forced to come up with much faster solutions to his troubles... or become a fugitive of the American justice. He's not even close to that at this point. So the question, again, remains: Where are all those unsatisfied customers that have been giving GAW thousands upon thousands of dollars, for many months, more than a year, without having ANYTHING AT ALL to show for it?

Without those, and in significant numbers, sorry but you have no case.

[solid12345]

Gaw never intended Paycoin to succeed. It is a well executed exit plan.

There are questions about the existence of Gaw mining farms in the first place.

I knew these guys were crooks when I saw their hilariously bad photoshop image of their mining "warehouse".

[DaveWave]

Without those, and in significant numbers, sorry but you have no case.

Hmm, If you read the cult following on hashtalk you'd think Josh could walk on water. But for a dose of reality look at the share price.

Mind you, some people think that 911 was all made up as well.

Only people promoting paycoin are people who would gain from it. Presume you're one of them?

[runpaint]

First and foremost, all that I read negative to Gaw, Garza or Paycoin, comes from a few individuals, you included.
...
by now we would have quite a few quite angry people being quite vocal everywhere about the "scam", don't you think?

So you're saying you would believe it, if people were quite vocal about it, but you don't believe the people who have been vocal about it.

Even if they were convinced that non-existent hashlets would cover their investment, many of them would protest
...
... and yet, I can't find anyone protesting angrily.

Other than the "few individuals", you mean?  Or maybe you just don't pay attention.

they still, massively, support and believe in anything Garza says... ALL of them, not just a few, not even just a majority but ALL of them

ALL of them?  There are plenty of them here who are not satisfied.

the FACT that you don't have any facts but speculation

Look at the pictures I posted.  

Look at the price of Paycoin.

Look at all the people who say their "guaranteed profitable" Hashlets are paying 1 satoshi per day.

if your speculation was even remotely close to the truth, the clamor would be of humongous proportions and Garza would be forced to come up with much faster solutions to his troubles... or become a fugitive of the American justice.

You mean, there would be people boycotting Garza's appearance at the Miami Bitcoin conference, and Garza would be forced to change his planned speaking appearance?

Or do you mean that a crypto news site would report that the SEC is investigating GAW for illegal activity?

 

Where are all those unsatisfied customers that have been giving GAW thousands upon thousands of dollars, for many months, more than a year, without having ANYTHING AT ALL to show for it?

Where are they?  Some of them are still at hashtalk, being censored, and some of them come here to hype their investment even though they know it's a scam.

[rokkyroad]

That tells me they are rather satisfied customers. Not only that: Satisfied customers ready and willing to follow Garza and his projects by bringing in more money to invest. And yet, at this point, with the price of PayCoin in the gutter, they still, massively, support and believe in anything Garza says... ALL of them, not just a few, not even just a majority but ALL of them... while the only ones describing scam in all shorts of speculative ways, are just a half dozen guys who, by their own admission, never bought anything from GAW nor invested in Paycoin.

Lots more than half a dozen guys. Gethashing shows a lot of long time members and investors who were banned or shadow banned for asking questions and showing displeasure at hashtalk.

http://forum.gethashing.com/t/xpy-paycoin-discussion/90

[barabbas]

Sorry but no, only about half a dozen people, all of them self-confessed not investors in GAW, either on the hardware, hashlets or Paycoin sides, post here unsubstantiated theories... when not outright falsehoods, like the pretended SEC investigation "reported by a news site". Obviously you do not know what a "news site" even looks like otherwise you would have already know from miles away that that site is nothing but the opposite of "news" AND that the "report" about the pretended "SEC investigation" was a total, fabricated falsehood. Even a pre-schooler would have identified both. Clearly.

And no, the "followers" continue following Garza, not complaining about promises not kept ... or hardware not delivered. Massively.

Trying to build a theory on falsehoods, as you did in this most recent post, not only doesn't work but actually destroys any semblance of credibility you may have attained with your orderly, though unreasonable, conspiracy theory of earlier.

Sorry, much less of a case, even.

AND I am far, far from sure that it is not an elaborate scam, ALL or at least the PayCoin part of it. It could very well be, I don't know. And, as stated above several times, the reason I don't know is because hundreds, if not thousands would have already come forward to protest unfulfilled promises. NONE -invested, that is- has done so. Only a total of about half a dozen -you can count them, including yourself- have done so. AND none of them, by thjeir own admission, has ever done ANY business at all with GAW.

[runpaint]

Sorry but no, only about half a dozen people, all of them self-confessed not investors in GAW, either on the hardware, hashlets or Paycoin sides, post here unsubstantiated theories... when not outright falsehoods, like the pretended SEC investigation "reported by a news site".

So the "news site" is one of the "half a dozen people" you're talking about?

Since you admit that multiple websites are accusing GAW of being a scam, are you saying that the "half a dozen people" all have their own websites?

Or are you just full of shit?

Add in Coindesk, Cointelegraph, Altcointoday, Bitcointradingroom, Shapeshift.io, Dogecoin devs, Blackcoin devs, Neoscoin devs, and the Litecoin Developers, and I think "even a preschooler" can tell that your half a dozen people is a bullshit number.