Notice Josh's (largely irrelevant) comment that ends the Twitter Gyft chain-- "We had prepaid for all our cards before the service launched."
Translation: We purchased the gyft cards before launching PaySave.
Problems:
First, why carry inventory for a business model that absolutely does not need inventory? Are you hiding funds? Or just can't code for shit?
Second, that makes the PaySave launch more of a fiasco. It would mean the XPY did not need to get dumped right that second to pay for anything. It would also indicate they have zero faith in XPY if they can't hold on to it for a day or even a hours to try to evenly distribute the dumping.
Third: If GAW purchased in fiat (which Josh has said repeatedly, but perhaps I am just "misunderstanding"), then he also opened himself up to BTC/$ fluctuations unnecessarily. Why do that? BTC has been fairly steadily rising since January 14th, so Josh would have lost a few extra tens of thousand of dollars there.