Topic: All The Crap that GAW Has Been Doing [CENSORING INFORMATION AND LYING] - page 4. (Read 5131 times)

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.  


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.

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

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.

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.

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

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

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.

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.

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

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.

   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.