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

[runpaint]

What is that supposed to mean?  I have to stop posting or something?

All I did was post a summary of GAW's history, most of which I learned on this forum, and I said to correct me if I'm wrong.  You responded with personal attacks and bullshit instead of providing any facts to dispute what I wrote.  So what line did I cross that you didn't cross first?

Well, I admit I haven't crossed the line of ignoring reality and making stuff up.  Therefore, in the interest of fairness, I will follow your example and call it "half a dozen people lying for no reason", if 4 major altcoins ever boycott me.

[rokkyroad]

I wouldn't get too excited about the Honor program yet. Details have yet to be released. The only thing I heard Gaw commit himself to was the $100,000.00 *minimum* payout a month. I expect the shit to hit the fan next week as numbers start coming to light.

He has to implement something to avoid litigation so expect it to be the bare minimum. The main reason for procuring a legal team I understand.

I certainly don't expect more than the minimum for the time being. And it is a very wise way to cover his ass by Josh Garza for no one can accused him of not honoring his promise... while, at the same time, gaining precious time if BTC is to ever rebound and PayCoin and PayBase to gain real traction and credibility.

And all for peanuts compared with what he has already collected.

I find the strategy quite brilliant, actually. And it could very well work in the end, favorably, for all involved.

I have to agree with you on this one sir.  Nice to see we are making progress without slinging a lot of mud at one another. LOL.

[DaveWave]

Simple math: If he has sold 6 million coins at $5.00 each that's $30 million right there. 12 months at $100,000 in the Honor program will be only $1.2 million. He can be honoring the Honor program for YEARS! And presumably he also still have another 6 million XPY in reserve all for himself. Now, you tell me: Is there ANY other coin out there that can honor such guarantee FOR YEARS, years in which it can establish itself as a crypto of currency value while establishing at the same time a trading platform in direct competition with Coinbase, which is an enterprise already wildly successful? Not only there's absolutely nothing even remotely close, but this is, EVEN AS A PONZI SCHEME, way better than 99.99% of other coins out there possibly including BTC itself, ok?

Just imagine if there's no Ponzi scheme and Garza actually sold tons of miners, delivered them to satisfied customers and now sit on a gigantic mining farm, tons of his own money AND Wall Street investors ready to plunk tons of Fiat in PayCoin as it progresses and PayBase...

Sorry, I just KNOW you just don't want to even remotely imagine that...

OK, that means he has to have $24 million to honour the buy back, he is $18 million short. He also has to pay his staff and other costs over this time. So where does he get the money from?

Answer
a) Josh is the most stupid businessman and will go bust in 2 years.
b) He's just pumping the price up further so he can continue dumping before running of before payments start in May/June.
c) It's a Ponzi scheme.


I think it will be c), Josh will only pay a token amount of refunds at $20 but claim he is paying £100k a month. This will allow him to continue scamming with various options open to him. All of which allow him to continue to sell his pre-mined coins at an inflated price to gullible investors.

Of course a reputable company would let you see an audited set of accounts before asking for investment, is one available for GAW? I'm guessing not.

[coinmaster222]

He might have more money he has put his house up for sale.

[DaveWave]

He might have more money he has put his house up for sale.

Is he:

a) Selling up so he can pay everyone $20 a coin like he promised cos he's a really nice bloke.
b) To buy a bigger house cos he somehow has acquired a lot of money from somewhere.
c) He would like to live somewhere hotter, without an extradition treaty.
d) b + C

[rokkyroad]

If Gaw was serious about Paycoin, he would have hired a real CEO when the shit hit the fan in Dec. It was the only way to salvage Paycoin after all the lies and broken promises.

Turning the company over to someone with credibility and an action plan would have went a long ways in rebuilding trust.

Instead, he allows Paycoin to become a pariah with little or no hope of credibility in the real world.

[barabbas]

If Gaw was serious about Paycoin, he would have hired a real CEO when the shit hit the fan in Dec. It was the only way to salvage Paycoin after all the lies and broken promises.

Turning the company over to someone with credibility and an action plan would have went a long ways in rebuilding trust.

Instead, he allows Paycoin to become a pariah with little or no hope of credibility in the real world.

I am going to disagree on that, again. PayCoin IS Josh Garza. For good, bad and in-between. Removing himself from it would mean instant death of the project. And as for "someone with credibility", who would you suggest off the top of your head? Not anyone in crypto, that's for sure, I assume? No one but no one, no exceptions, no excuses, in crypto has ANY credibility, any at all. There are those who have credibility within a group of nutcases that lack any at all withing another group of nutcases. That's how the cookie crumbles. And please, lets not forget that crypto is the Land of the Nutcases, period. As for someone from outside, well, in the Land of Nutcases, anyone from outside would be immediately lacking any credibility whatsoever, so...

"Money walks", that's how the saying goes... even in Nutcase's Land, so the ONLY way to gain credibility, is by giving money, especially the money GUARANTEED, to the people that invested. And, as far as current info goes, that is exactly what Josh Garza intends to do. If and when he has disbursed half a million dollars after 6 months in the Honor Program, you can be quite sure that most everyone (there's always the nutcase's group that wont, regardless) will give him a lot of credibility. Nothing else will at this point. He knows it and most people know it. And, all in all, it is so clever that it is probably the cheapest way ever to buy credibility.

We will see soon enough if indeed that is the path chosen.

[fr4nkthetank]

nan

[rokkyroad]

"Money walks", that's how the saying goes... even in Nutcase's Land, so the ONLY way to gain credibility, is by giving money, especially the money GUARANTEED, to the people that invested. And, as far as current info goes, that is exactly what Josh Garza intends to do. If and when he has disbursed half a million dollars after 6 months in the Honor Program, you can be quite sure that most everyone (there's always the nutcase's group that wont, regardless) will give him a lot of credibility. Nothing else will at this point. He knows it and most people know it. And, all in all, it is so clever that it is probably the cheapest way ever to buy credibility.

Honoring the $20 guarantee will go along way with the Gaw faithful. Some of those will forgive and forget. Investors will be; "Phew, that was a close call. Won't take another chance on this shit."

You have to admit all this controversy is going to be next to impossible to overcome. Major merchants and business will never align themselves with something this sketchy. New investments will not be incoming.  Too many "fraud" and "scam" headlines in a google search.

The bottom line is GAW is not trustworthy.

Do you remember the Halloween shitstorm with XC and Blocknet? Both these coins/tokens are worthless now. The only ones trading are the cult members.

I sincerely hope paycoin lives long enough to satisfy investors but the future is bleak.

[barabbas]

Once again I disagree. Buying credibility is akin to buying "worthiness", therefore PayCoin will be -if that scenario pans out- by far the most credible and worthy of all crypto coins. By far. And its price will reflect that.

Now to put a confirmed scammer like Dan Metcalf and his goons in the same sentence that Garza SO FAR, is ludicrous.  And extremely disingenuous.

Again, unless you just want to increase the Google count for those catchy terms, to pretend that wild speculation -and outright lies - have any weight at all at the moment is simply futile.

[Crestington]

"Money walks", that's how the saying goes... even in Nutcase's Land, so the ONLY way to gain credibility, is by giving money, especially the money GUARANTEED, to the people that invested. And, as far as current info goes, that is exactly what Josh Garza intends to do. If and when he has disbursed half a million dollars after 6 months in the Honor Program, you can be quite sure that most everyone (there's always the nutcase's group that wont, regardless) will give him a lot of credibility. Nothing else will at this point. He knows it and most people know it. And, all in all, it is so clever that it is probably the cheapest way ever to buy credibility.

Honoring the $20 guarantee will go along way with the Gaw faithful. Some of those will forgive and forget. Investors will be; "Phew, that was a close call. Won't take another chance on this shit."

You have to admit all this controversy is going to be next to impossible to overcome. Major merchants and business will never align themselves with something this sketchy. New investments will not be incoming.  Too many "fraud" and "scam" headlines in a google search.

The bottom line is GAW is not trustworthy.

Do you remember the Halloween shitstorm with XC and Blocknet? Both these coins/tokens are worthless now. The only ones trading are the cult members.

I sincerely hope paycoin lives long enough to satisfy investors but the future is bleak.

I remember Spoetnik tore them a new asshole over Blocknet, I miss that guy, total FUDmaster but was pretty much spot on all the time. Probably a good thing that he wasn't around for PayCoin, would have been a shitstorm of epic proportions.

[rokkyroad]

I remember Spoetnik tore them a new asshole over Blocknet, I miss that guy, total FUDmaster but was pretty much spot on all the time. Probably a good thing that he wasn't around for PayCoin, would have been a shitstorm of epic proportions.

Wonder if he ended up in jail or mental institute? Cannot see him leaving this forum otherwise. Unless ... the Xc/blocknet cult got to him ... LOL.

[Crestington]

I remember Spoetnik tore them a new asshole over Blocknet, I miss that guy, total FUDmaster but was pretty much spot on all the time. Probably a good thing that he wasn't around for PayCoin, would have been a shitstorm of epic proportions.

Wonder if he ended up in jail or mental institute? Cannot see him leaving this forum otherwise. Unless ... the Xc/blocknet cult got to him ... LOL.

No idea, I figured he would be back by now but I guess he proved me wrong.

[CanInvest]

hmmmm.... zen cloud has a big red Cloud mining disabled message on the interface.....


Guess we can add the Always profitable, never obsolete promise on the list

[SockPuppetAccount]

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?

GAW is a bunch of thieves and Paycoin is a scam but I've got 2 GAW Black Widows.  They sold from stock, no wait at all.  The fact that they were just rebranded Zeus miners was never a secret or covered up.  They did start out as a quality reseller of ASICs, it was with the vaultbreaker and hashlets that everything started going downhill.

[Bitcoinlover123]

I hope you people will open your eyes and see the truth.

[coinmaster222]

Today will be make or break day for xpy,If he goes back on his $20 promise or makes years of payback time he is totally finished straight away

[runpaint]

The fact that they were just rebranded Zeus miners was never a secret or covered up. 

Read this topic, people are still denying that fact.  So it's either a secret to them, or they're covering it up.

[SockPuppetAccount]

The fact that they were just rebranded Zeus miners was never a secret or covered up. 

Read this topic, people are still denying that fact.  So it's either a secret to them, or they're covering it up.

Dude, I hate GAW and XPY just as much as the next guy.  Josh Garza should be in prison.  We are on the same page on that one.

But harping on this completely unimportant old news is not productive toward continuing to spread the word about GAW's true crimes.  Anyone who is denying the fact that GAW sold rebranded Zeus miners simply doesn't know what they are talking about.  As I said, I own 2 GAW Black Widows purchased directly from them.  This fact was never covered up.  Everyone knew about it.  It was common knowledge at the time.  I purchased from GAW rather than directly from ZeusMiner because GAW generally offered better prices to the little guy who only wanted 1 or 2 miners.  Zeus seemed to be more about the bulk sales.

[rokkyroad]

As previously reported, we are reviewing with counsel the features of the Honors Program and what if any aspects of the program may require regulatory approval. We intend to proceed based upon advise of counsel and will provide updates as developments warrant.

http://blog.paybase.com/status-of-honor-program/


I think we can safely say this is the END of paycoin as far as Gaw is concerned. I don't think we will hear much more from him going forward. We will hear lots from the losers with the usual lawsuit and "lets track down Gaw" types of threads.

Perhaps the community can resurrect paycoin later on but they will have to change the name to shake off some of the scandal.