Topic: GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :) - page 1101. (Read 3377956 times)

Is there a strong reason that the centralized checkpoint system is needed? What exactly is not working that needs to be fixed?

I made two points, one that it isn't a matrix scheme, and two that matrix scheme weren't yet found to be illegal in the US. It's very likely they eventually will be, it probably depends on how much disclosure there was in any given case. But even if it was found to be illegal, that's irrelevant to coinstand.

There are more than 15 Prime Controllers. There's around 50.

They removed the message that displayed the error.  They never in fact fixed said error.  Covered up the in typical GAW fashion.

Precedents get set at some point... there always has to be a first....

Could it be we have found "The One"?

That specifically mentioned that people pay to be in the "waiting list". There's no way to pay to get on the invite list, so this isn't a matrix scheme.

For that matter, the wiki page has this to say http://en.wikipedia.org/wiki/Matrix_scheme#Legality;


and

the best thing that gonzo can hope for is to go to prison, not for the sex, but maybe he can learn to be a good criminal. as it stands now, hes not very good at leaving a cold trail.

If you're talking about the checkpoint error, I think it was removed in https://github.com/PaycoinFoundation/paycoin/commit/88fbd4b835597398d40141eaca22a1af0a76fc1b, on Feb 11.

Dear oh dear oh . . . feckin'. . . dear.



Missed this reddit post previously, but it is an absolute PEACH!
http://www.reddit.com/r/Bitcoin/comments/2t4it4/cantor_fitzgeralds_failed_entry_into_bitcoin_and/

https://hashtalk.org/topic/35032
https://archive.today/WsT7F


XPYStaker promises 12% APY and has no verifiable source of income. In other words, a ponzi until proven otherwise. Now why would a lending site own something like this?

Good point! I would imagine the alphabet people are requesting more warrants to serve on such people as Mr Fraser, just to clear things up of course.....

Neither can I.

As in, I don't believe you weren't aware of the economic realities of what you were proposing.

Your pal, Mr Fraser would have pointed out such a flaw in your proposal long before then. You know, the guy who was busy tweeting support for you and XPY. Because, let's be blunt here, if he was unable to see just how messed up this ponzi-matrix scheme was, he shouldn't be on the board for Cantor Fitzgerald.

I think it was posted a while ago but still good to re-read it again. It highlights a couple of issues:

1) no clue at GAW about how cryptocurrencies work, thinking about preventing exchanges from trading it  
2) and despite clearly seeing the flaw with their plan they just went ahead with full hyperinflation - apparently the plan changed to "let's dump as much as we can" at some point

Yes, that Email is very clear evidence of intent to defraud. Josh & Co clearly knew the plan they presented to investors would not work (Duh...  ), yet they sold this idiotic "$20 Floor" plan to them and then just kept their money.*And then emptied the GAW corporate coffers into anonymous BTC wallets, likely buying their own XPY during the "$20 Floor attempt*. FRAUD. Plain and simple. There are so many clear cut examples of clear intent to defraud that it is hard to believe these brazen criminals are still being allowed to continue with this whole fraudcake.

let's also not forget the $20 floor
https://archive.today/W3OTH

this is an old email, but I hadn't seen it mentioned. it was in the qntra zip
http://pastebin.com/MNBQBpvV

posting in chronological order


>>>>>>> On Fri, Dec 19, 2014 at 6:39 AM, Josh Garza <[email protected]> wrote:
>>>>>>>>
>>>>>>>> and I just woke up thinking about it. And it's not a good one.
>>>>>>>>
>>>>>>>> Our entire paybase and xpy model is flawed. It has been to begin
>>>>>>>> with. The crazy thing, no a single person or just has ever brought=
 it up.
>>>>>>>>
>>>>>>>> Here is why. Let's separate things in to two buckets
>>>>>>>>
>>>>>>>> The first is people that buy xpy directly from Paybase at the full
>>>>>>>> price of $20. We would need to escrow every penny of that right? B=
ecause
>>>>>>>> that person would want liquidity for every penny because they paid=
 full
>>>>>>>> price. Right? Makes sense. Only that means we never can use that m=
oney.
>>>>>>>>
>>>>>>>> Now that not the issue. The issue is way worse then that. As the
>>>>>>>> above only means we would have to make money some other way. No, t=
he issue
>>>>>>>> comes next.
>>>>>>>>
>>>>>>>> Let's assume the the following it true. For the next year, for
>>>>>>>> whatever the reasons are, the price of xpy only goes up to 18 on t=
he open
>>>>>>>> market. Maybe it will go higher, but let's agree that it's out of =
our
>>>>>>>> control and that's the case.
>>>>>>>>
>>>>>>>> So this would then mean, a person would be able to game us forever=
.
>>>>>>>> They could go to the market, buy for 18 and come sell to us for 20=
 over and
>>>>>>>> over and over again. Outside the limits we out in place, there is =
nothing
>>>>>>>> we can do to stop that.
>>>>>>>>
>>>>>>>> This then also means we would constantly loose money from this. No=
w
>>>>>>>> here is the scary part, combine the first thing i said. If we are =
escrowing
>>>>>>>> all the new xpy they buy from us, where does the new money come fr=
om to
>>>>>>>> cover that spread?
>>>>>>>>
>>>>>>>> Now, multiply that by 10 million, and forever. Coming together now=
?
>>>>>>>> The entire model is flawed.
>>>>>>>>
>>>>>>>> This is a big deal.
>>>>>>>>
>>>>>>>> I am working on trying to figure out anyway around this. But the
>>>>>>>> issue is the entire model is built around these concepts. I just c=
an not
>>>>>>>> believe I never thought of this before. There is no way this will =
work
>>>>>>>>
>>>>>>>> I will have amber call a meeting so we can talk about what options
>>>>>>>> we have.
>>>>>>>>
>>>>>>>>
>>>>>>>> --
>>>>>>>>
>>>>>>>> *Josh Garza*
>>>>>>>> *CEO- *GAW Corp
>>>>>>>>
>>>>>>>>
>>>>>>> =E2=80=9CThe information contained in this email message may be
>>>>>>> confidential. If you are not the intended recipient any use, distri=
bution,
>>>>>>> disclosure or copying of this information is prohibited. If you rec=
eive
>>>>>>> this email in error, please tell us by return email and destroy thi=
s
>>>>>>> communication and any attachments from your system.=E2=80=9D
>>>>>>>
>>>>>>
>>>>>>
>>>>>> --
>>>>>>
>>>>>> *Josh Garza*
>>>>>> *CEO- *GAW Corp
>>>>>>
>>>>>>
>>>>> =E2=80=9CThe information contained in this email message may be confi=
dential.
>>>>> If you are not the intended recipient any use, distribution, disclosu=
re or
>>>>> copying of this information is prohibited. If you receive this email =
in
>>>>> error, please tell us by return email and destroy this communication =
and
>>>>> any attachments from your system.=E2=80=9D
>>>>>
>>>>
>>>>
>>>> --
>>>>
>>>> *Josh Garza*
>>>> *CEO- *GAW Corp





>>>>> On Fri, Dec 19, 2014 at 6:58 AM, Josh Garza <[email protected]> wrote:
>>>>>>
>>>>>> That will not change the issue. The fundamental issue is this entire
>>>>>> currency was sold under the idea that there would be a floor. To cha=
nge
>>>>>> that idea, would be to change the core concept thus making the entir=
e
>>>>>> community reject it.
>>>>>>
>>>>>> The floor is the issue.
>>>>>>
>>>>>>
>>>>>> On Friday, December 19, 2014, Dan Kelley <[email protected]>
>>>>>> wrote:
>>>>>>
>>>>>>> The model will need to change, but not the purpose  --- commercial
>>>>>>> adoption
>>>>>>>
>>>>>>> Dan
>>>>>>>
>>>>>>> Daniel J. Kelley
>>>>>>> President, COO
>>>>>>> Geniuses at Work
>>>>>>> 34 East Dudley Town Rd.
>>>>>>> Bloomfield CT. 06002
>>>>>>> 413-271-7630




>>>> On Friday, December 19, 2014, Dan Kelley <[email protected]>
>>>> wrote:
>>>>
>>>>> I understand. But subsidizing a false floor is not an option.
>>>>>
>>>>> Dan




>>>> On Dec 19, 2014, at 06:03, Josh Garza <[email protected]> wrote:
>>>>
>>>> Take the floor away and the whole coin collapses. More over, I do not
>>>> think I could be involved after that. There is no greater definition o=
f a
>>>> bait and switch. This community would burn us at the stake.
>>>>



>>> On Dec 19, 2014 10:02 AM, "Joe Mordica" <[email protected]> wrote:
>>>
>>>> I always assumed we would discourage exchanges from trading the coin t=
o
>>>> the point of legal action. Recently I realized that was not the case b=
ut I
>>>> thought I remember us having a conversation about this before launch.
>>>>
>>>>
>>>>
>>>> --
>>>>
>>>> *Joe Mordica*
>>>> *CTO*
>>>> GAW
>>>> 22 Millbranch Rd Bldg 800
>>>> Hattiesburg, MS 39402




>> On Fri, Dec 19, 2014 at 10:05 AM, Josh Garza <[email protected]> wrote:
>>>
>>> The discussion was about not letting them list to early. How could we
>>> stop them forever? It's a public coin.
>>>
>>> No ideas?



> On Dec 19, 2014 10:09 AM, "Dan Kelley" <[email protected]> wrote:
>
>> Let's meet to discuss this. In the interim, would it be wise to take dow=
n
>> our Paycoin HashStaker Wallet at $11.95 on GAW Miners?
>>
>> Dan
>>
>> Daniel J. Kelley
>> President, COO
>> Geniuses at Work
>> 34 East Dudley Town Rd.
>> Bloomfield CT. 06002
>> 413-271-7630




On Fri, Dec 19, 2014 at 10:12 AM, Josh Garza <[email protected]> wrote:
>
> I am just meeting with you and Joe. I do not have the patience to explain
> everything ten times to him today.
>
> Please circle up with him after the meeting to explain the plan
>





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To: Josh Garza <[email protected]>
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Will Do.

Ya, corporations release unfinished software all the time, to work on it as they go.  You can't do that when peoples money is involved though.  Typical HashTalk logical fallacy.  I read somewhere that a software program that deals with peoples financials cannot be released in a BETA state.  it has to be in final spec.

Ya, I didn't catch any of the complete imbeciles/shills saying that this is ok to just lock you out of your account and keep your BTC/XPY, or "just deal with it, you shouldn't invest more than you can stand to lose" and other complete absurdities defending this obvious lockout so that Josh&Co can enjoy some extra dumping without the released XPY from cashtakers competing, etc. in that thread. Incredible.

Edit to add: Here is one. "Suck it up ya fucking WUSS!" Uhhhh, how's about a great big hot cup of "Fuck YOU!".

The morning funnies from the HashTalkers.

https://hashtalk.org/topic/35028/still-waiting-for-my-deposits-and-other-issues/17
Archive: https://archive.today/MOGvS

Never forget.