So was thinking, Josh had been bigging up the buyback, everyone expected details to be made public on the 1st Feb but instead he says he can't announce because of legal matters.
This triggered a 50% fall in the price. I question what the real motive was behind not making the announcement? I'm sure Josh could have made up some sort of detail that would have satisfied most people and boasted the price to maybe between $5 and $10 allowing Josh to dump more of his pre-mine.
But he hasn't done this, why not?
I think there are two reasons.
a) He would have to declare the company bankrupt immediately as the company does not have enough funds to cover future liabilities.
and/or
b) Publishing details of the buyback could provide definitive evidence in a future court room that Josh intended to run a Ponzi scheme.
Any thoughts on this please?
option c):
When SEC is looking at you with a microscope do not make concrete and detailed promises that you know you are not going to keep.
I am most surprised that nobody has raised the point that this buyback made absolute zero business sense and therefore it was certain it was not going to be performed.
The only way paycoin would have gone forward would have included a massive increase in both userbase and trade volume. The buyback would have collapsed both. Most of the users would have cashed out and left. The only some kind of positive aspect of the buyback was said to be pulling most of the coins out from circulation letting the remaining few left out in the wild to increase in value. Guess what: value without volume is meaningless.
It is possible that when Josh first announced the buyback he thought it might pull the coins value up in the market near the $20 without him doing anything more than vague promise. And if the coins would have gone up he could have pulled the promise without much trouble.
When it became evident that the coins are not going up in the market there was nothing else left for Josh than exit. The only question was how. If there would not have been SEC investigation I guess he could have gone further and announced detailed plans in the hope that it would pull the value of the coins up in the market in february allowing him to cancel the buyback at some later date in march. But with SEC investigation and most of his staff quitting this was not possible.
So his choice of action was to act as negatively as possible trying to collapse the value of coin in the hope that he could buy them from the market with smallest possible price reducing the number of customers to a minimum and especially the number of sensible customers that could present a threat to him by lawsuits or otherwise. Maybe this plan also did not work as some stupid people kept the price too high on the exchanges or he just has some ADHD issues and he wants to jump to something else. I don't know.
I firmly believe the big movement of coins and starting the hyperinflation in the end of the last week were planned to work as a threat of dig dump coming trying to create panic and force the price of the coin down so he could buy them with pennies. Stupid GAWtards just did not understand anything and act like he planned.
All this was triggered by the SEC investigation starting. Before SEC investigation he was still upbeat hyping up the coin with the "buyback going on schedule" crap. That was a different plan back then but then everything changed to a plan b.
Hilarious 
