Topic: GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :) - page 2391. (Read 3377790 times)

Perhaps an earlier indiscretion in Tijuana in his youth hence the familial odd naming convention?

Interesting but mere gossip at the same time, the usual gossip mongers around the water cooler today are now suggesting that Josh is the son of Stuart. Some college or earlier in life liaison that he wishes went away.

Amusing to say the least but indeed double checking and cross-referencing, the closed smiles and pasty blotchy faces and pretend sheepish head hanging posing in all photos suggest it could be? Same thin lipped clenched mouth situation going on.

Perhaps an earlier indiscretion in Tijuana in his youth hence the familial odd naming convention?

Hey Chris.  I enjoyed your posts on HT in the short time you were there.  I agreed with your challenging posts.  In this case though, I disagree.  I think with the proper investment capital you absolutely CAN start with a market cap with that number.  Unknown startups do that everyday with unknown IPOs.  $250 million is chump change in the VC world.

Now keep in mind that this will be the market cap at launch.  5 minutes after launch and we'll see what the actual market cap is.  The fiat backing is probably the biggest plus of this coin.  BTC has nothing like it and you can see what happens with its price.  With close to 100 million USD as a glorified buy wall to keep the price up, it's not hard to understand how this number is reached.

Now, if you remember the INITIAL white paper, they said 96 million coins at launch.  At $20 per coin, that put the market cap at over 2 billion USD.  I, and others on HT, were up in arms on the math.  Josh's responses were absolute BS and made me seriously consider dumping everything I had at GAW since the math did not add up.

With the NEW whitepaper and a mere 5ish million coins for the ICO (and a total coin amount down to 12 million from 1.2 BILLION) made the numbers add up a bit.

Regardless of all that shit I just wrote (heh) the bottom line is you can't compare the early days of BTC to paycoin.  A closer comparison would be to SYScoin, which supposedly had a few hundred BTC to keep the price up.  Anyone who followed SYS knows they had a horrible launch and were in league with a verified scammer.

I'll let the more witty posters here comment on the above with regards to GAW.  

That said, I don't believe for a second that Josh is out to scam us.  I do believe that he may be waaaaaaaaaaaaaaaaay over his head in launching a new coin.  As someone who has been "mining" this coin for weeks now I hope for the best but am prepared for the worst.

or if it's even still alive

Did you count? Whatever you say about their legitimacy I saw a picture with a couple hundred bitmain miners and if they spent over a million $, there could be more.

You're debating over the weight of the elephant, but it's important to note that there is an elephant

if i was gonna do such a paycoin deal (even if it was a scam) I would to it with an open pool and sha256 outdated hardware it would create buzz..every frigging old
sha 256 miner would be poised at the launch.....would make quite the media splash...

but then again that run away horse you would have a hard time 'spinning' the facts on how well the coin was doing etc..you'd be giving up control

my guess is because we have NOT heard such touted...we will get 'in the future' comment

again if all vitural controlled by gaw this paycoin etc...well then that will tell us much

I can guarantee you with certainty that they will not and never will take delivery of 5 PH physical miners.

5 PH/s worth of Bitmain S4's are ~3MW.

They claim to have a 15MW DC already operational. That's ~25PH/s.

The pics they've provided as "proof" show something like 500KW worth of hardware.

Nothing adds up when it comes to GAW.

Do you honestly believe this?

You've made some good points and we agree on several fronts, but if you stand by the above claim with no proof to back it up (and "proof" exists to the contrary) then you've gone down a road I can't follow.

Does Bitmain even rent their gear?  The statement was that GAW purchased 5 PH and Bitmain confirmed it.  Occam's Razor time.

Do you honestly believe this?

You've made some good points and we agree on several fronts, but if you stand by the above claim with no proof to back it up (and "proof" exists to the contrary) then you've gone down a road I can't follow.

Does Bitmain even rent their gear?  The statement was that GAW purchased 5 PH and Bitmain confirmed it.  Occam's Razor time.

Do you honestly believe this?

You've made some good points and we agree on several fronts, but if you stand by the above claim with no proof to back it up (and "proof" exists to the contrary) then you've gone down a road I can't follow.

Does Bitmain even rent their gear?  The statement was that GAW purchased 5 PH and Bitmain confirmed it.  Occam's Razor time.

They did not buy physical miners. They bought bulk hashing power at a discount and re-sold it at a profit. Any idiot with a few dollars can do that.

Who, me? More likely theymos would bill me for extra bandwidth and disk space and I don't think he accepts hashpoints (yes, that's a pathetic attempt to put this back on topic).

So what´s with the shitcoin that´s still trading at Cryptsy ?

PYC, Paycoin.

Is that going to coexist with this one ?

I can't speak for Scott and IANAL but I think he might be referring to "Ponzi clawback" and yes, that is a thing.

If it were a "disguise", buying 5 PH/s of mining hardware, showing pictures a data center(s), and selling actual physical miners, is an awfully difficult way of creating a disguise, isn't it?  Why not just create a pretty web page somewhere with some data center stock photos and a to-good-to-be-true rate and bank the BTC as long as you can.


I doubt there's much of a market for just internet forums.  But I could be wrong.


I assume that you, after after reading GAW's WP, will provide your opinion of what "faux" means in this context.

if i was gonna do such a paycoin deal (even if it was a scam) I would to it with an open pool and sha256 outdated hardware it would create buzz..every frigging old
sha 256 miner would be poised at the launch.....would make quite the media splash...

It has nothing to do with Miners, Mining, Crypto Currency or anything remotely related. It is all thinly disguised as so.

It is a scheme to sign up "eyeballs" and then sell the whole thing. You can just as well create an internet forum, sign up as many users as you can, and then peddle it to some marketers.

This is what is happening with this faux crypto currency.