Let me put it in simple terms what I see.
This coin was designed to reward insiders at a massively exponential rate while at the same time inflating the holdings of outsiders consistent weakening them as time goes on.
This points to a design of accumulation of wealth. This is fiat. Bitcoin is fiat but in reverse, deflation instead of inflation which has the same end result, the rich get richer and the poor more poor.
You wouldn't need such a complex scheme for a simple lie and pump and dump plan like everyone is implying.
I personally had a plan to launch a coin backed by like 50% by gold but what held me back is that it was not economically feasible if outsiders would hold most of the coins. They would quickly sell their coins for gold and bankrupt me and the rest of the loyal coin holders.
So if you launch a coin and you have a huge plan which requires a massive investment then you need a mechanism, a design which allows for you, the one paying the millions for PR and development, to constantly be increasing in strength or at least not getting weaker as people dump into the value you are creating.
Do you guys understand this? There is no way to create a valuable asset out of thin air in any other way. Bitcoin is valuable cause of perception but insiders there too are manipulating now to grab it all before they start pumping big money into it.
It looks bad but this is how fiat works too which I know is a horrible example but would you put millions of your dollars into a coin if you couldn't control its value and stay in control? If people would just dump it to zero and move on and leave you with a massive loss?
XPY looks designed to me for a bigger, longer term plan. I just can't believe Garza didn't foresee this kind of outrage over the design and definitely the crappy customer service and bad PR.
Brilliant design but very Poorly executed.
Edit: Let me also say XPY is perfect for short term holdings. As a daily currency, to trade or short term investing. The exact opposite of Bitcoin. That's probably the long term plan for XPY. The built-in inflationary design of the coin works perfectly for such a currency and it allows the insiders who fund the value to remain in control in order to stabilize and sustain the value as people dump and trade XPY.
Seriously why would any consumer use a coin thats controlled by one of two people?
Not to mention both shops that accept it....
Also if he wants all the XPY why wont he accept it for any of his products.
Oh thats right cause its a shitcoin with no innovation and nothing backing it