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Topic: GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :) - page 2367. (Read 3377790 times)

sr. member
Activity: 378
Merit: 250
Do people still not get this, the Hash Staker prevents a dump, Pay Base is the end game, Pay Base will also allow BTC payments it is a  payment processing site that charges fees just not as high as a credit card. So by preventing the initial dump GAW has ensured any floor put in place is safe, the floor is payed by the hash staker. On primes and other hashlets convert, no more mining. GAW mines all equipment on either BTC or LTC. More money to keep the floor in place. After 2 or 3 months staked coins have doubled, customers are happy even though no real money. In 6 months Pay Base has taken off, pay coin slowly loses value and GAW states that he had the most profitable coin for the last 6 months and it is market forces causing the drop in price.
I say get in now, probably double your money, then the mining side of GAW will be gone and it will all be about pay base. The one problem GAW may find is that a competitor will come along and do the same without a bullshit coin or Pay Pal fully integrates bitcoin if that happens pay base is dead within 2 months and so is GAW as a business.

You're making sense. Don't do that, this is a thread for wild speculation and religious videos. Put it on HT and see how long you last  Grin

Seriously though, this is an interesting theory. I still don't see how it would prevent me from dumping most of my coins at the first opportunity, but I'm probably underestimating the average greed of a GAW customer. We'll see.

I think Gaw would like some customers to dump first chance, less coins on the market or more in their hands. Seems like said above it's like CD for cryptos, but used word like your mining, POS. But really is more like a high paying CD. I also believe they are now switching over to Paycoin, which they will still mine BTC, to support their business, and also creating infracture similar to paypal but better. So in this alone it's pretty cool and ingenious honestly. They have so much money to build floor, but also support ongoing payment services, and marketing.

Love or hate Gawminer, unless they mismanage funds, or make a big mistake they will be a huge financial player longer in this, think of gaw as a new Paypal for cryptos. Least thats what I'm seeing here, but they brilliantly put this together in a good or bad way. Not sure yet.
legendary
Activity: 1246
Merit: 1024
Did not have time to read recent posts. Is this HashStaker thing just another way to delay paying BTC to GAW customers?

It is a way to fund the ponzi since it was running out of btc to pay hashlets (IMO).


What I mean is, the deadline was approaching where people were going to be able to exchange the magical Paycoins for $20 each. Now GAW has a great idea to sell these "stakers" that you need to tie up x amount of your Paycoins for 3-6 months to get an extra amount of more Paycoin. So a large majority of people will now not sell at $20 because they want to gain more Paycoin in months time.

What PayCoins? There are no PayCoins and probably will never be any PayCoins. The only PayCoins that exist are ones GAW mined and are still mining and belong exclusively to GAW. What crypto coin would anyone want to buy in where one company run by a scammer (IMO) controls almost the entire infrastructure? It is ridiculous on it's face and so sad many dupes are buying into it.
legendary
Activity: 963
Merit: 1002
Did not have time to read recent posts. Is this HashStaker thing just another way to delay paying BTC to GAW customers?

It is a way to fund the ponzi since it was running out of btc to pay hashlets (IMO).


What I mean is, the deadline was approaching where people were going to be able to exchange the magical Paycoins for $20 each. Now GAW has a great idea to sell these "stakers" that you need to tie up x amount of your Paycoins for 3-6 months to get an extra amount of more Paycoin. So a large majority of people will now not sell at $20 because they want to gain more Paycoin in months time.
legendary
Activity: 1526
Merit: 1000
Did not have time to read recent posts. Is this HashStaker thing just another way to delay paying BTC to GAW customers?

Is it one of GAW's announcements? The answer to both questions, as always, is yes.
legendary
Activity: 1246
Merit: 1024
Did not have time to read recent posts. Is this HashStaker thing just another way to delay paying BTC to GAW customers?

It is a way to fund the ponzi since it was running out of btc to pay hashlets (IMO).
sr. member
Activity: 434
Merit: 250
Did not have time to read recent posts. Is this HashStaker thing just another way to delay paying BTC to GAW customers?
customers victims are actually, by buying into this, showing that they have no interest in BTC, so why will they ever be paid?
legendary
Activity: 963
Merit: 1002
Did not have time to read recent posts. Is this HashStaker thing just another way to delay paying BTC to GAW customers?
sr. member
Activity: 434
Merit: 250
After eighteen days, I've made eleven cents off a 1Mh/s ZenMiner.

and how much did that 11cents cost you?
legendary
Activity: 1246
Merit: 1024
After eighteen days, I've made eleven cents off a 1Mh/s ZenMiner.

Congrats! You are a Zen Master Miner.  Lips sealed
sr. member
Activity: 377
Merit: 250
https://keybase.io/magicmann
After eighteen days, I've made eleven cents off a 1Mh/s ZenMiner.
newbie
Activity: 42
Merit: 0
http://gawful.org - Share your GAW nightmare stories if you have been scammed by them
full member
Activity: 238
Merit: 100
What a deception the new miners, good luck to the people who bought these.
full member
Activity: 196
Merit: 100
How high can you build a shit mountain, randy. Before it falls over and drowns everyone in a ginormous shitalanche.

Good ole' TPB  Cheesy Cheesy Cheesy Cheesy
full member
Activity: 146
Merit: 100
How high can you build a shit mountain, randy. Before it falls over and drowns everyone in a ginormous shitalanche.
full member
Activity: 196
Merit: 100
Quote
The future of cryptocurrency is in the cloud. Datacenters cut power costs in half and maximize uptime. They even keep, noisy and sensitive equipment safely outside your home. HashStaker is the world's first Cloud Staking Wallet, perfectly optimized to thrive in large, controlled datacenters and achieve massive economies of scale to offer unparralled availability. All HashStakers are hosted in the most robust cloud mining and cloud hosting data centers in the world with 99.99% uptime guaranteed.

This might be the most hilariously absurd thing GAW has said yet.

Who actually thinks this is a real company again?

The people who profited with Hashlets.
They have enough clients, don't you worry. If it wasn't so your employers wouldn't be paying you to write this crap.

I've profited from haslets only after I sold them and I don't think this company is legit.  Thats how a ponzi scheme works. the pyramid is getting top heavy. It's the newbies in there now that need to watch out..

You profited, great. So the company has brought you profits and still hasn't scammed anyone, but you don't trust them because what? They look suspicious, right?
If it's a ponzi scheme, and as you said getting top heavy, it should soon be over. Just wait see and don't forget to leave your comment if you are proven wrong Wink

I have profited from GAW as I was in very early with hardware miners which turned into primes that are now worth 5X as much, so yes, I have big profits and I stay invested in GAW.

Does this make GAW legit? No. Say again: No.

Has it scammed anyone? Yes. Actually, it has scammed EACH AND EVERYONE of its clients.

The marketing that was done back in August - September was selling Primes as MINERS of BTC that would have DIMINISHING FEES over time. The only thing stable at zenminers since August 2014 are the big blue-white $0.08 and $0.01 fees... I stayed with Primes based on GAWs declarations of making Prime miners profitable IN BTC for the long run. And I believed that a company with serious engineering and planning could achieve economies of scale in therms of electricity costs, hardware costs etc to provide AT LEAST something of what was promised.

Nothing of that short came to being. Instead GAW TOTALLY CHANGES its promises (on which promises I for one had made my decision to join the company).
As if by magic, thousands of people are led (bullied) to mine the company's vouchers (code named PayCoin) instead of BTC.

Are those people happy? Yes, they are RAVING in hashtalk about their luck and dream of what car they'll buy with their PayCoins. GAW's marketing is playing masterfully with the only perennial value of humans: greed.

But let me stop right there and explain WHY I'm writing this and why all this criticism against GAW since, after all, I AM IN PROFIT with them?

Because this is CRYPTO WORLD.
It is a huge revolution for humanity. It is the first time people are creating money and deal with that without any authority. Away from governments and the banking cartel. This is a huge social experiment. It reveals the good and the bad in humanity. It brings out in the open the forces that will shape things for tomorrow.

If GAW was selling laptops or making cellphones or Christmas cookies I wouldn't pay any attention to them.
But GAW is into CRYPTO. The first stage of what is to me and thousands more crypto enthusiasts on this planet a true revolution for humanity.
So, yes, I take extreme interest of how people are behaving. How they deal with the technology, how they plan to use it and how they invest and build companies around it.

THIS is what fuels my interest for GAW, for BFL, for MtGox, for the alt coin scene, for Ripple, for Doge, for Noble, for VIA, for BAY, for anything.

It is not about Josh career and not about proving GAW is a ponzi or not. It is about how people are handling this technology.

You may have not realized it but we are dealing with a totally unregulated environment here. When Josh says it has 100,000,000 USD to back PayCoin, this is a NUMBER ON OUR SCREENS. This is not an audited bank account verified to hold 100 million by an entity set up under law to provide liquidity strictly for PayCoin. This is just what we see on our browsers for heaven's sake!! It is no more real than the Hashlet ICONs that are "scarce" and limited in numbers!

People WANT to believe in it, they / we WANT to believe that this is for real. And we behave, talk, act and PAY as if they were real. And we place our trust for this to be real SOLELY on a single person and his close team of associates.

That is OK - after all, this is what UNregulated means. But exactly because of that we should scrutinize everything, watch it closely and KEEP OUR EYES open to see the red flags.

I'm not thinking in black and white, I'm not saying GAW is a 100% Ponzi. There are multiple scenarios that could be playing here. Perhaps Josh started out with no criminal intentions. Perhaps he honestly believed he could really reach economies of scale and truly offer lower and lower fees. I do not know. But I can't help pointing out that in this process he FAILED BIG TIME.

From that point onwards, all is red flag territory.





Well said.
member
Activity: 107
Merit: 10
Quote
The future of cryptocurrency is in the cloud. Datacenters cut power costs in half and maximize uptime. They even keep, noisy and sensitive equipment safely outside your home. HashStaker is the world's first Cloud Staking Wallet, perfectly optimized to thrive in large, controlled datacenters and achieve massive economies of scale to offer unparralled availability. All HashStakers are hosted in the most robust cloud mining and cloud hosting data centers in the world with 99.99% uptime guaranteed.

This might be the most hilariously absurd thing GAW has said yet.

Who actually thinks this is a real company again?

The people who profited with Hashlets.
They have enough clients, don't you worry. If it wasn't so your employers wouldn't be paying you to write this crap.

I've profited from haslets only after I sold them and I don't think this company is legit.  Thats how a ponzi scheme works. the pyramid is getting top heavy. It's the newbies in there now that need to watch out..

You profited, great. So the company has brought you profits and still hasn't scammed anyone, but you don't trust them because what? They look suspicious, right?
If it's a ponzi scheme, and as you said getting top heavy, it should soon be over. Just wait see and don't forget to leave your comment if you are proven wrong Wink

I have profited from GAW as I was in very early with hardware miners which turned into primes that are now worth 5X as much, so yes, I have big profits and I stay invested in GAW.

Does this make GAW legit? No. Say again: No.

Has it scammed anyone? Yes. Actually, it has scammed EACH AND EVERYONE of its clients.

The marketing that was done back in August - September was selling Primes as MINERS of BTC that would have DIMINISHING FEES over time. The only thing stable at zenminers since August 2014 are the big blue-white $0.08 and $0.01 fees... I stayed with Primes based on GAWs declarations of making Prime miners profitable IN BTC for the long run. And I believed that a company with serious engineering and planning could achieve economies of scale in therms of electricity costs, hardware costs etc to provide AT LEAST something of what was promised.

Nothing of that short came to being. Instead GAW TOTALLY CHANGES its promises (on which promises I for one had made my decision to join the company).
As if by magic, thousands of people are led (bullied) to mine the company's vouchers (code named PayCoin) instead of BTC.

Are those people happy? Yes, they are RAVING in hashtalk about their luck and dream of what car they'll buy with their PayCoins. GAW's marketing is playing masterfully with the only perennial value of humans: greed.

But let me stop right there and explain WHY I'm writing this and why all this criticism against GAW since, after all, I AM IN PROFIT with them?

Because this is CRYPTO WORLD.
It is a huge revolution for humanity. It is the first time people are creating money and deal with that without any authority. Away from governments and the banking cartel. This is a huge social experiment. It reveals the good and the bad in humanity. It brings out in the open the forces that will shape things for tomorrow.

If GAW was selling laptops or making cellphones or Christmas cookies I wouldn't pay any attention to them.
But GAW is into CRYPTO. The first stage of what is to me and thousands more crypto enthusiasts on this planet a true revolution for humanity.
So, yes, I take extreme interest of how people are behaving. How they deal with the technology, how they plan to use it and how they invest and build companies around it.

THIS is what fuels my interest for GAW, for BFL, for MtGox, for the alt coin scene, for Ripple, for Doge, for Noble, for VIA, for BAY, for anything.

It is not about Josh career and not about proving GAW is a ponzi or not. It is about how people are handling this technology.

You may have not realized it but we are dealing with a totally unregulated environment here. When Josh says it has 100,000,000 USD to back PayCoin, this is a NUMBER ON OUR SCREENS. This is not an audited bank account verified to hold 100 million by an entity set up under law to provide liquidity strictly for PayCoin. This is just what we see on our browsers for heaven's sake!! It is no more real than the Hashlet ICONs that are "scarce" and limited in numbers!

People WANT to believe in it, they / we WANT to believe that this is for real. And we behave, talk, act and PAY as if they were real. And we place our trust for this to be real SOLELY on a single person and his close team of associates.

That is OK - after all, this is what UNregulated means. But exactly because of that we should scrutinize everything, watch it closely and KEEP OUR EYES open to see the red flags.

I'm not thinking in black and white, I'm not saying GAW is a 100% Ponzi. There are multiple scenarios that could be playing here. Perhaps Josh started out with no criminal intentions. Perhaps he honestly believed he could really reach economies of scale and truly offer lower and lower fees. I do not know. But I can't help pointing out that in this process he FAILED BIG TIME.

From that point onwards, all is red flag territory.



hero member
Activity: 770
Merit: 509
I guess I don't understand...

So are people actually lining up to pay for a "cloud wallet" that stakes coins that don't exist?

I feel like there are plenty of PoS coins out there that you can stake for free using a downloaded wallet. Why are people paying for monthly contracts to do just that  Cheesy

Ok, I'm gonna repeat this louder: 400% APY

To paraphrase someone: If you can resist that we don't want you as a customer Grin

But how can you possibly base this on a coin that doesn't exist!? It's pure speculation.

You just have to believe.
full member
Activity: 196
Merit: 100
I guess I don't understand...

So are people actually lining up to pay for a "cloud wallet" that stakes coins that don't exist?

I feel like there are plenty of PoS coins out there that you can stake for free using a downloaded wallet. Why are people paying for monthly contracts to do just that  Cheesy

Ok, I'm gonna repeat this louder: 400% APY

To paraphrase someone: If you can resist that we don't want you as a customer Grin

But how can you possibly base this on a coin that doesn't exist!? It's pure speculation.
full member
Activity: 221
Merit: 100
...

 I think I mentioned somewhere that they are nowhere close to having paid out even the $16 to the first Hashlet owners, so they should have a lot of cash laying around or invested in mining hardware and generating income.

Do you think that's true?


Which part, that $16 per MH/s hasn't been paid out yet? It's a fact. Even with double dips, which I'm using with about 75% efficiency, I got ~0.022 BTC ($8 at current rate) for each original Prime. With ideal double dips it could have been close to $9. So in the absolute best case they are still sitting on $7 of my cash, and breaking even on those uber-cheap hardware sales ($10 or less per MH/s) converted to primes. Any September and later sales that are now paying out 1 satoshi are almost pure profit.

Of course you have to subtract $1-$2 million for the Bitmain order and their operating costs, but they are claiming $120m annual sales and other huge numbers.

This also means that any >100% "ROI" could only come from resale, which is funded through the "free market". Can free market be a ponzi? I guess it depends on how you look at it. I just think this scenario is unique enough, because they were able to simply stop paying old customers, so no need (technically - I have no clue as to actual cashflow) to take money from new customers to pay existing obligations.

What you say is true. And it might not even be as illegal either. Immoral maybe, but it's just the kind of thing the folks in the smoke filled rooms call "just business". Just a bunch of deliberately misleading, overstated, confusing spectacle (marketing). But put it on the internet and aim it at the booming altcoin market. Face it, we have proved ourselves willing to throw piles of our coins at some dubious products in the past.  Wink

So, how about a product that is all story, web design, and a database?
legendary
Activity: 3654
Merit: 8909
https://bpip.org
I guess I don't understand...

So are people actually lining up to pay for a "cloud wallet" that stakes coins that don't exist?

I feel like there are plenty of PoS coins out there that you can stake for free using a downloaded wallet. Why are people paying for monthly contracts to do just that  Cheesy

Ok, I'm gonna repeat this louder: 400% APY

To paraphrase someone: If you can resist that we don't want you as a customer Grin
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