Topic: GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :) - page 2092. (Read 3377790 times)

Here is my theory:

There is no floor, reserve, in fact there are many symptoms that GAW has been cash-dry since October. No payouts to speak of from ZenCloud (even ZenPool is no paying a satoshi, nobody noticing anymore). No $50 million ad campaign. Poorly coded coin clone. New product was "launched" as a couple of screenshots taken from another business from almost a year ago. And now this cowardly way the $20 price is being hyped - you'll be able to "use" it, or they will "value" it, but they won't come out and simply say - we'll BUY it, which is what most are assuming.

They are trying to do what they've somewhat successfully done once with Primes. They managed to lift the "retail" price from $16 all the way to $50 and more, and the "market" price followed to some extent. This is the basis of all those "ROI" success stories, a legend sort of like the 10k BTC pizza. The fact is, nothing else since then among GAW products was profitable. But watch that Paycoin "retail" price on paycoin.com - I think it will start going up, creating the illusion of scarcity/value, and the hope is probably that once POW is over and all non-believers have dumped their coins, "market" price will go up too. Having pre-mined 96% of all coins certainly helps, next step is to entice as many coins as possible to be locked up in staking.

Will this be enough? I certainly don't think so, and the broader market doesn't seem to think so. I would like to say this is a gamble, but the problem is that we don't even know the odds, as you would let's say on PrimeDice. Good luck to all gamblers, you'll need it.

You should indeed assume any financial scheme in the crypto world to be a scam or ponzi if no credible evidence to the contrary  is provided by whoever is promising you profits. One cant prove a negative, but its usually bloody easy to prove a positive, especially when we have public ledgers.
IOW, show me a unicorn and I'll believe, but dont invest based on the promise of one.

I would argue from an accounting POV that these discounted coins are a liability against the declared value at retail. If Joe Blow paid $20 for the coin and uses it at a $20 value, its a wash. But if Miner Bob redeems his coin for $20 and it only cost him $7, he sees an increase in value of $13. That $13 has to come from somewhere and it comes out of GAW's pockets.

You know what is even worse for GAW? If more people spend their hashpoint converted coins than they project. Those coins are valued at $4 versus $7 from the mined coins. The only saving grace they have is that all the 'hashpower' people gave up to accumulate hashpoints gave GAW a healthy reserve to protect against a run. The fact that bitcoin has been poorly performing must have people sweating bullets. I am sure the don't want to eat into their fiat reserve from the outside investments... unless they took bitcoin instead.  

To address your last comment, if GAW is not so liquid to have that scenario to occur, then they are playing with fire if it all goes sideways on them. They file for bankruptcy and then all of us who have some sort of investment with them are boned.

So you can stake with higher rate of return.  The higher rate is based off the prime controller's staking rate which gets an advantage over a home wallet staker.  A hashstaker gets a cut of the prime controller's transaction fees, advanced services, etc.


If you aren't comfortable with GAW, then by all means, stake your paycoin in your own personal wallet.  You don't have to have anything to do with GAW if you don't want.  Stake your coins for a while... see if the exchange rate gets better on exchanges after the POW-dump-off and initial HP-XPY conversion sell-off.

LOL you really think Homero will let you out of this nightmare that easily?

If my logic is so "ass backwards"... then tell me... Why does GAW have to buy any XPY?  They already have the 12 million they need to distribute to prime controllers and haspoint conversion customers.  They don't have any more obligation to the price on any exchange other than their own.

If you don't understand that, then I guess we are done then.

Hey this just gave me a great business "idea" for gaw.. When they get all this KYC info, they should encrypt it in the block chain and then if the customer ever speaks out or stops paying out, they can then threaten to make the key public. Got em locked in for eternity!

You're missing the point, people are buying it below $10 to dump it for $20 next week.  Keeping the $5 example, if GAW buys it today it costs $5, if they don't and someone else does they will have to buy the SAME coin for $20 next week.

Buy today: It costs GAW $5 and they can sell it next week for $20
Don't buy today: someone buys it for $5 and sell it to GAW next week for $20, it costs GAW $20

So people are wondering why they aren't buying right now if there is a $20 floor...

I didn't think that end-users could stake with the home wallet. If this is true, why even buy a hashstaker from GAW?

That's not what I'm saying at all.

Several companies have proven they aren't a ponzi/fractional reserve, GAW is not one of them.

You really think there are reserves? Why wouldnt they be buying now? There no reserve and your fooling yourself to think 20 is even close to a price that you will receive.

The "logic" you are applying here is so ass backwards I do not even know where to start to try to explain it to you. If you do not understand that buying something you must have for $5 instead of $20 is a better business practice I am afraid I will simply never be able to reach you. Kind of like trying to explain to my dog how to knit a sweater. Pretty much a wasted effort. Good luck!

Oh, and don't forget to rent more miners!!

So your saying every company everywhere is a ponzi scheme? That's intelligent. I mean theres no way to  prove a negative. So the whole world is a ponzi scheme. The universe, god, rocks, the color gray, its all one big ponzi scheme.

I'm enlightened, thanks :/

The plugin is not released yet... so it remains to be seen.  I appreciate Coinfire doing their investigative pieces.

They don't have to *BUY* any coins.  They already have them!

Why would would you as a builder go buy cheap plywood when you already have enough for the job?  Sure, it's cheap plywood, but all the money you have to buy the cheap plywood is spoken for... to pay the construction guy's salaries for a while.  What are you going to tell your contruction guys... sorry, I spent all your salaries on more cheap plywood?

GAW is Arabic for SCAM

We demand proof of data center all we get is photoshop fakes

http://www.datacenterknowledge.com/wp-content/uploads/2014/09/GAW-data-center-hi.jpg

http://fotoforensics.com/analysis.php?id=5c75ecd96a47b86c10ce399016eb10f96bbe3860.61284&fmt=ela&size=600&i=5156107

http://www.datacenterknowledge.com/wp-content/uploads/2014/09/GAW-hashing-center.jpg

http://fotoforensics.com/analysis.php?id=1c9605403b67c25491ad899c5532417a97caf089.32546&fmt=ela&size=600&i=5186316

I demand proof of delivery of Hashlet

Interesting comment just showed up. A skeptical person would question the semantics...


https://hashtalk.org/topic/24266/new-coindesk-paycoin-article/29

So your beef is with GAW and not with Paycoin, am I reading you correctly?

I just want to establish what we are talking about here.

Click on the "Minting" tab.  You can see the age of the coins/transactions you have in the wallet.

As per the POS portion of the whitepaper, your coin needs to age 30 days before it will stake.

Translation: They have no intentions of paying $20 for Paycoins. If they did they would be buying them right now for $5.

Example: I am a builder. Let's say I need 100 sheets of plywood for a job next week that I a obligated to do. Today the sheets of plywood are on sale for $5. The sale ends Sunday, and Monday I will have to pay $20 per sheet. Are you REALLY so stupid that you would pay $20 instead of $5?? Do you REALLY not know the difference between $500 and $2,000?? Another product victim of our educational system. Shocking.


Again: The difference between stealing candy from a baby and what Josh is doing to his followers is that a baby has enough brains to cry when someone steals his lollipop.