The other buy->manage could possibly be a typo, but this one is a clear lie that was changed long after it was posted.
https://archive.today/xYUdXhttps://hashtalk.org/topic/24303/paybase-verifications"Paybase will purchase Paycoins for $20 each." -> "Paybase will use its resources to manage to $20 each."
His first statement was clear, but his edit makes no sense. Most importantly, the edit happened a week after the original post and is the same edit he used on the other guarantee post.
This post was kind of a big deal, the first true guarantee. Turns out it was a lie. If there was $100 million, he could buy every paycoin for sale without exhausting the fund.
The only motive he could have had in making those posts was a belief that if he claimed to have that kind of money and presented a minimal effort to support a floor, the belief in the floor would be enough to sustain it. What he overlooked is that there is no reason anyone wants to keep paycoin. It's not like the original advantages described in the whitepaper actually exist. It's useless, so there's no reason to hang on to it if the price gets close to $20. So that one big push to $20 lasted under two minutes, because who wouldn't sell into it? Why keep the coin at that price?
I believe therer IS a $20 price guarantee BUT only for a selected few who are either a) VIP Tier 5 which would likely include thier investors/customers and b) Those that qualify as Tier 4 ( and they can make that group as big or as small as they want by delaying or refusing applications for tier 4 until it suits them.
It would be interesting now to do the math..there were 12 Million pre mined coins and probably those allocated those coins are under an agreement NOT to sell until after a specific date ..say 120 days so it is very likely that none or hardly any of those have come to market yet
With 12m paycoins already premined for the company’s investment partners and customers, only about 500,000 paycoins are available for public mining.http://www.coindesk.com/gaw-miners-altcoin-launch-sparks-speculative-frenzy/the total number of available coins is 12,375,899 as of this post of which
op N addresses Holdings Percentage
Top 10 5,176,300 XPY 41.83 %
Top 100 12,046,651 XPY 97.34 %
Top 1000 12,343,400 XPY 99.74 %
All 5740 12,375,899 XPY 100 %
SO there are only 375,899 coins that are AVAILABLE to buy and sell as of this time . if EVER those attain Tier 4 status in 30 days there is a total exposure for paybase of ONLY $7.5 million IF the price has crashed to almost zero... assuming the original 12M are locked in until a future date
https://chainz.cryptoid.info/xpy/#!rich
32,500 are held in 4740 wallets an average of 7 xpy per wallet I expect at LEAST half of these will be shaken out
approx 300,000 are held in just 900 wallets which MAY be the savvy investors ( or really dumb depending on your point of view) and I would think the majority of these will hold until at least they attain Tier 4 30 days qualification and have the opportunity to demand a $20 conversion to fiat at the rate of $5000/ week so those are not going to move now.
The total value of 40,000ish Xpy at $6 is just $240,000 or at $20 is $800,000 and is arguably a drop in the bucket for GAW should they want mop those up to support the price at some point in the future and once they are absorbed only the 12 million pre mined coins and 900 wallets with 300,000 coins remain so who is left to sell in the NEAR term once that is done? again I am assuming that the 12m are locked in and the 300k are held by people who will at least wait for the price guartee of tier 4 to activate.
Of course if this is a complete scam then some of the 12M pre mined have already hit the market at 15-20..but frankly i believe thats small change ( in volume) compared to what they can get IF ther price can be stabilized at $20 at some future date and they can unload 1M coins a year.
What does confuse me somewhat is the claim that at one point they were supporting the price to the tune of 500k PER MINUTE. WHO was selling 25,000 coins a MINUTE ? ( maybe someone can check the transactions). Does that represent the majority of the 300,000 coins that were not pre mined or did they forget to lock the 12M in for a time period ( most unlikely)
https://hashtalk.org/topic/26931/xpy-price-floorIf I told you how much money we blew through tonight, it would blow your mind. At one point, it was over 500K a minute!
You would be appalled at the number of users who dumped their coins as soon as they logged in.So where are we now?
GUESSTIMATE
The majority of the quick money people (from the 375,000 coins but nowhere near all of them) have cashed out or are the process of.
there are a number of speculators playing with some of those ..buying low sold high buying low again ( waiting to sell high again)
The vast majority of coins are being held either due to lock in or to qualify at the very least for tier 4 and re asses the situation when thats done. Obviously if price has recovered they may hold some and sell some....if not they will most likely sell all and THAT is when paybase will need big money in the region of $7m should most of the 300k in the 900 wallets sell to them. Before that happens and after this current shake out the price will likely recover substantially with the support of Paybase and its investors if and when needed.
Do expect to see close to or above a $20 price tag again ( even if its manipulated)
Just a guess but who knows..really
