The scam isnt even over yet, the first round of investors already bought in apparently, all the idiots (myself included at first) bought in on the second wave of the scam through GAW zen portal btc mining that was used to draw people in....all the idiots buying cash stakers are going to keep paycoin stable,,but not at 20 bucks since they just gave out a shit load of free ones. So Josh has made bank, his first round of investors made bank...and this coin was supposed to look after the sucker 2nd lot, and its failing. Even the scammiest IPO scam clone coins premine 100% of the coin to sell...which will bring in the 3rd round of suckers...
Gee cant half tell where this is going. If josh lets us sell our cash takers and HP BACK to him, I would get out so fast. Of course we cant do that at all.
Topic: GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :) - page 2195. (Read 3377945 times)
December 13, 2014, 11:09:06 AM
December 13, 2014, 11:09:02 AM
If the 12 million "first-block/premine" is truly already accounted for from their ICO distribution, then something must happen.
GAW needs to publish a public ledger of the distribution of the 12 million premined coins (like any other ICO coin does). If not all of the 12 million coins are distributed, they must be "burned" (again like any other ICO coin does).
If GAW is unable to do this... it is nothing more than a land grab and a pure and simple mass premine.
Now according to their white paper. 5.5 Million coins are already allocated to the Round 1-3 ICO participants. That leave 6.5 million coins that have no home. Did GAW simply TAKE those 6.5 million coins? Are they going to "burn" those 6.5 million coins in a public/untouched address? Or is this just a premine that they don't want to call a premine.
The open source world that all crypto coins are founded on is one that promotes accountability. Its time for accountability to take a front seat in this process.
GAW needs to publish a public ledger of the distribution of the 12 million premined coins (like any other ICO coin does). If not all of the 12 million coins are distributed, they must be "burned" (again like any other ICO coin does).
If GAW is unable to do this... it is nothing more than a land grab and a pure and simple mass premine.
Now according to their white paper. 5.5 Million coins are already allocated to the Round 1-3 ICO participants. That leave 6.5 million coins that have no home. Did GAW simply TAKE those 6.5 million coins? Are they going to "burn" those 6.5 million coins in a public/untouched address? Or is this just a premine that they don't want to call a premine.
The open source world that all crypto coins are founded on is one that promotes accountability. Its time for accountability to take a front seat in this process.
Josh said there were "major" last minute "investors" and the rest of the pre-mined coins go to ones he gave away to shut people up and to convert from HP.
December 13, 2014, 11:08:22 AM
Well, it does make sense that there's a 95% premine, if there is indeed a "backing" of 100m$ and big company- investments. Also above poster makes a good point.
December 13, 2014, 11:07:40 AM
If the 12 million "first-block/premine" is truly already accounted for from their ICO distribution, then something must happen.
GAW needs to publish a public ledger of the distribution of the 12 million premined coins (like any other ICO coin does). If not all of the 12 million coins are distributed, they must be "burned" (again like any other ICO coin does).
If GAW is unable to do this... it is nothing more than a land grab and a pure and simple mass premine.
Now according to their white paper. 5.5 Million coins are already allocated to the Round 1-3 ICO participants. That leave 6.5 million coins that have no home. Did GAW simply TAKE those 6.5 million coins? Are they going to "burn" those 6.5 million coins in a public/untouched address? Or is this just a premine that they don't want to call a premine.
The open source world that all crypto coins are founded on is one that promotes accountability. Its time for accountability to take a front seat in this process.
GAW needs to publish a public ledger of the distribution of the 12 million premined coins (like any other ICO coin does). If not all of the 12 million coins are distributed, they must be "burned" (again like any other ICO coin does).
If GAW is unable to do this... it is nothing more than a land grab and a pure and simple mass premine.
Now according to their white paper. 5.5 Million coins are already allocated to the Round 1-3 ICO participants. That leave 6.5 million coins that have no home. Did GAW simply TAKE those 6.5 million coins? Are they going to "burn" those 6.5 million coins in a public/untouched address? Or is this just a premine that they don't want to call a premine.
The open source world that all crypto coins are founded on is one that promotes accountability. Its time for accountability to take a front seat in this process.
December 13, 2014, 11:07:28 AM
Seriously, everyone is stuck on the fact that the blockchain got stuck. That is only a moderately big deal. It happens and its only a result of poor calculation and estimation.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Yep. Block 1 they mined 12,000,000 coins. Said for investors and customers. That's an awful lot when total coins issued during POW will be 12,500,000.
But the peeps there are defending the premining and basically yelling at the OP for being so stupid and not understanding the revolutionary POS "mining" power of XPY.
December 13, 2014, 11:07:14 AM
I don't know why I am doing this, but I feel like someone needs to say something.
Excerpt from this HT thread you posted:
so, BTC is a scam then?
satoshi premined if i recall correctly.
Talk about comparing apples to oranges.... they will say anything to defend coin (premine)... lol
December 13, 2014, 11:02:49 AM
Seriously, everyone is stuck on the fact that the blockchain got stuck. That is only a moderately big deal. It happens and its only a result of poor calculation and estimation.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Yep. Block 1 they mined 12,000,000 coins. Said for investors and customers. That's an awful lot when total coins issued during POW will be 12,500,000.
December 13, 2014, 11:00:37 AM
Amazing how he can toss a bone to his loyal followers and a simple explanation, and they suck it right up and resume licking him and each other all over again, even after this massive blunder.... even those who lost there ass on rig rentals, say things like oh "you are making history, shit happens" and on and on,,, kind of disturbing lol
https://hashtalk.org/topic/23090/paycoin-stalled-update-2
https://hashtalk.org/topic/23090/paycoin-stalled-update-2
December 13, 2014, 10:57:28 AM
I don't know why I am doing this, but I feel like someone needs to say something.
December 13, 2014, 10:49:58 AM
Seriously, everyone is stuck on the fact that the blockchain got stuck. That is only a moderately big deal. It happens and its only a result of poor calculation and estimation.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
96% !!! Get your math right !!!
Seriously though, I think that was largely expected, so no big surprise here. All those coin giveaways and extended Hashpool mining. But the core belief is that GAW will do the right thing, so to supporters it doesn't matter that they own 96%, it might actually be a good thing in their eyes.
Blockchain being stuck is a big deal. This is a payment processor that will generate enormous amounts of transaction fee revenue for Hashstakers. Can't do that if there are no transactions happening.
December 13, 2014, 10:47:25 AM
Seriously, everyone is stuck on the fact that the blockchain got stuck. That is only a moderately big deal. It happens and its only a result of poor calculation and estimation.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Eights I think all the HT people that have figured the scam out are here with you already.
December 13, 2014, 10:43:28 AM
Seriously, everyone is stuck on the fact that the blockchain got stuck. That is only a moderately big deal. It happens and its only a result of poor calculation and estimation.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Yep. Block 1 they mined 12,000,000 coins. Said for investors and customers. That's an awful lot when total coins issued during POW will be 12,500,000.
December 13, 2014, 10:38:57 AM
Seriously, everyone is stuck on the fact that the blockchain got stuck. That is only a moderately big deal. It happens and its only a result of poor calculation and estimation.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
Wtf about the pre-mined 95%???!! No alt-coin with 95% premined (or even 50%) can survive. The blockchain getting stuck is negligence; pre-mining almost the entire universe of coins is fraud. For all my HT friends (if I have any left): you must see now, please open your eyes. Officially a scamcoin.
December 13, 2014, 10:29:26 AM
Well 2 good things. At least people are learning what real cloud mining sites are (probably closing up shop at GAW and using them) and I would like to thank GAW for making me and some others money last night on Westhash.
December 13, 2014, 10:27:49 AM
Somebody go post on his twitter the link and in all caps "SO HOMERO, IT'S 5% NOW HUH?"
ive been blocked from posting or reading on his twitter account. p@ssy apparently didnt like that i called his coin little. December 13, 2014, 10:17:25 AM
hi all
For those who are interested :
I succeeded in downloading and compiling source from github the wallet on wheezy 64 bit.
It's kind of slow but it maybe due to my computer .
It started the setgeneratewith 5 procs . For now wait and see.
Does anybody have the parameter for a cgminer client . so i can try some old usb sh256 keys I have here ?
For those who are interested :
I succeeded in downloading and compiling source from github the wallet on wheezy 64 bit.
It's kind of slow but it maybe due to my computer .
It started the setgeneratewith 5 procs . For now wait and see.
Does anybody have the parameter for a cgminer client . so i can try some old usb sh256 keys I have here ?
You aren't planning to solo mine, are you? You can use the wallet to generate an address, but I suggest to use a pool for mining. WHEN IT COMES BACK ON SUNDAY. It's dead now, I hope you know that. Pools:
http://pool.paycoin.com/
http://multicoinpool.org/
December 13, 2014, 10:15:13 AM
Over at HashTalk they actually believe the coin is worth 50,000 btc...I can't believe what I'm reading. Even a GAW founder and Paycoin Origin...but then again he's just a paid shill. Others believe that paycoin is the reason bitcoin had a down day...wow. Just. Wow.
Link
I saw a real buy at 50k in the order book, is that exchange for real? I think coin swap is going to double scam people but the stuck Blockchain got in the way
The exchange is real. It sold something like 1 payoshi for that price, it's just a joke order to pump the price. There is nearly zero supply. Real prices start at 0.07 - which is still impressive BTW, around $25 - but the depth is only a few coins, and we have 277 * 49 mined, so just wait until all those mature and can start moving
December 13, 2014, 10:14:45 AM
New Gawfugee here.
Enjoying watching the extremely GAWd awful launch of this Paycoin.
How much longer until GAW closes up shop? One month, maybe two?
Enjoying watching the extremely GAWd awful launch of this Paycoin.
How much longer until GAW closes up shop? One month, maybe two?
Welcome, what swung it for you in the end, if it's not too stupid a question
Probably many of the same reasons as everyone else. Multiple shadow bans, not really sure for what. Mass amounts of promises with half ass delivery.
I am so glad I pulled 95% of my funds out about 2 months ago and from that time it has really just been a bad comedy show for me. Anything I have left over there is simply a bet on red at the roulette table. Except there is no red anymore on the GAW playing field.
December 13, 2014, 10:14:16 AM
Homero Talk is back up
Only the index. I cannot get any threads to load.
I could only read this gem on the front page:
Quote
Seriously, 10% of the global hashrate?!!? Do you know how incredible that is!?!
To all the FUDers and scam-calling Trolls, this is clear proof that this is not a scam.
While there have been ups and downs, that much hash power shows it's not just 'HT zealots' (thanks Reddit) that are mining.
There are a TON of people wanting to get involved, wanting to mine, and wanting to own XPY.
What happened today is probably the best news a coin could have.
I agree, but there are also a lot of greedy people. most will dump at the first chance. They will spread FUD all over, but secretly try to make money.
To all the FUDers and scam-calling Trolls, this is clear proof that this is not a scam.
While there have been ups and downs, that much hash power shows it's not just 'HT zealots' (thanks Reddit) that are mining.
There are a TON of people wanting to get involved, wanting to mine, and wanting to own XPY.
What happened today is probably the best news a coin could have.
I agree, but there are also a lot of greedy people. most will dump at the first chance. They will spread FUD all over, but secretly try to make money.
And thanks for the corrected math so the actual fact is .852% of the global hash rate made your peercoin clone go oh fuckit and eat itself.
December 13, 2014, 10:13:46 AM
Enough morning reading for me already! what a mess. Time for another coffee and go check on my little miners still earning money now lol 
https://hashtalk.org/topic/23113/paycoin-is-peercoin
Another mans folly it would seem....
Long live bitcoin
https://hashtalk.org/topic/23113/paycoin-is-peercoin
Another mans folly it would seem....
Long live bitcoin
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