GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :) - page 283.

iCEBREAKER

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Crypto is the separation of Power and State.

Quote from: owlcatz on December 02, 2015, 01:40:52 PM

I imagine Cyrus really enjoyed writing this one! Cheesy

http://arstechnica.com/tech-policy/2015/12/feds-sue-yet-another-cryptocurrency-startup-alleging-19m-ponzi-scheme/

If Cyrus could stop reporting opinion as fact, that would be great.

Cyrus is vastly overrated as a Bitcoin journalist, to put it mildly. How nice that he gets paid to defame peoples' demonstrated best efforts as "incompetent" and "criminal."

Quote

The implosion of GAW Miners marks yet another example of incompetence and possible criminal behavior associated with companies selling Bitcoin mining hardware. Previously, CoinTerra, Butterfly Labs, and HashFast also faced similar legal battles.

This lazy comparison of GAW to Cointerra and Hashfast is factually flawed and a violation of journalistic ethics.

In the case of Hashfast, the bankruptcy court make no finding of "incompetence" and indeed endorsed the opposite conclusion by allowing the company to continue operating under Chapter 11 rehabilitation, rather than be placed immediately into Chapter 7 liquidation.

Cyrus needs to get his head out of his smug, posturing ass and learn the basics of the topic before drawing and publicizing flawed, libelous conclusions.

It's not that hard, and Ars Technica's fact checkers should have caught his amateur errors.

o0o0

legendary

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Ok well josh is now coming truthful on some statements. Paycoin article on forbes

http://www.forbes.com/sites/jordanmaglich/2015/12/01/sec-alleges-bitcoin-mining-companies-operated-20-million-ponzi-scheme/

that makes wsj, forbes just cnn to go right? took jos 12 months for those articles to get published

RoomBot

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Quote from: Paul Revere on December 02, 2015, 11:52:44 AM

For me personally, the most interesting thing about the forthcoming trial will be the revealing of accomplices.

Yep!

Disgraced @Miaviator, (GAW General Manager Jonah Dorman) is back to posting his obnoxious wall-o-text in the comments section of these articles about the SEC charges

-- AS IF he had NOTHING to do with any of it.....

....Notice how Dorman/ miaviator got REALLY QUIET HERE on BCT after ranting for months???

Right around the time the SEC got busy...

Xian01

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Christian Antkow

Quote from: favdesu on December 02, 2015, 04:57:48 PM

oh, uncle Stu owns 41% of a ponzi/scam. would explain why they wiped him from the cantor website to prevent this bad press. well... too late

More money than brains... Good Lord...

favdesu

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Quote from: not.you on December 02, 2015, 04:41:16 PM

Quote from: owlcatz on December 02, 2015, 01:40:52 PM

I imagine Cyrus really enjoyed writing this one! Cheesy

http://arstechnica.com/tech-policy/2015/12/feds-sue-yet-another-cryptocurrency-startup-alleging-19m-ponzi-scheme/

I'm glad they got that mention of Stu and Cantor in there at the end. That should piss off some important people (and by important I just mean rich, not necessarily important in any meaningful way).

oh, uncle Stu owns 41% of a ponzi/scam. would explain why they wiped him from the cantor website to prevent this bad press. well... too late

not.you

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Quote from: owlcatz on December 02, 2015, 01:40:52 PM

I imagine Cyrus really enjoyed writing this one! Cheesy

http://arstechnica.com/tech-policy/2015/12/feds-sue-yet-another-cryptocurrency-startup-alleging-19m-ponzi-scheme/

I'm glad they got that mention of Stu and Cantor in there at the end. That should piss off some important people (and by important I just mean rich, not necessarily important in any meaningful way).

peonminer

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Crypto is King.

The reason it was a security was due to the cloud mining shares representing a "share" of the "profit" from the "mining".

I read the entire document. Cloud mining is mentioned numerous times, albeit mentioned in such a way to accuse Garza of fraudulent representation. Which he did, and it was.
Proof read. Wink

SDRebel

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Quote from: ThePhwner on December 02, 2015, 04:11:25 PM

Quote from: cryptodevil on December 02, 2015, 02:35:05 AM

Quote from: favdesu on December 02, 2015, 12:56:40 AM

Quote from: ladrx on December 01, 2015, 07:03:57 PM

/r/bitcoin's reaction

https://www.reddit.com/r/Bitcoin/comments/3v0smb/sec_charges_bitcoin_mining_companies_gaw_miners/

Quote

There is a God. /r/atheism unsubscribed.

best comment so far Cheesy

Agreed. That thread is comedy fucking gold.

Welp, it has been a long time coming but the process is finally underway and while this may well be a civil action, the collected evidence they possess will no doubt have been passed to other three-letter agencies.

Of particular interest to them will be the involvement of wealthy-investor-with-banking-difficulties-Rishabh-Jain. After all, Cantor Fitzgerald is a company in the business of providing investment services and advice to high-net-worth individuals and one would have to wonder how he ended up being introduced to the Garzas.

Turns out a bowtie, a rented Diablo, and an entourage of schills can't save you from the SEC. I think this will set the stage for many more SEC actions against the "cloud mining" scammers, at least those with ties to the US:

"Hashlets constitute investment contracts, and thus “securities” under Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act."

Anyone who was wondering if cloud mining contracts would be considered securities? The US definitively says yes.

I think you are mistaken. SEC didn't say cloud mining contracts are considered securities. If you read the other paragraphs, they state that they only had a fraction of mining with respect to what they sold. They also talk about paying with other funds, that's what makes it a security. Cloud mining itself isn't really described in there (unless I missed it)

ThePhwner

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something something Bitcoin

Quote from: cryptodevil on December 02, 2015, 02:35:05 AM

Quote from: favdesu on December 02, 2015, 12:56:40 AM

Quote from: ladrx on December 01, 2015, 07:03:57 PM

/r/bitcoin's reaction

https://www.reddit.com/r/Bitcoin/comments/3v0smb/sec_charges_bitcoin_mining_companies_gaw_miners/

Quote

There is a God. /r/atheism unsubscribed.

best comment so far Cheesy

Agreed. That thread is comedy fucking gold.

Welp, it has been a long time coming but the process is finally underway and while this may well be a civil action, the collected evidence they possess will no doubt have been passed to other three-letter agencies.

Of particular interest to them will be the involvement of wealthy-investor-with-banking-difficulties-Rishabh-Jain. After all, Cantor Fitzgerald is a company in the business of providing investment services and advice to high-net-worth individuals and one would have to wonder how he ended up being introduced to the Garzas.

Turns out a bowtie, a rented Diablo, and an entourage of schills can't save you from the SEC. I think this will set the stage for many more SEC actions against the "cloud mining" scammers, at least those with ties to the US:

"Hashlets constitute investment contracts, and thus “securities” under Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act."

Anyone who was wondering if cloud mining contracts would be considered securities? The US definitively says yes.

peonminer

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Crypto is King.

Some people will remain gawtarded for life. Wink

owlcatz

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Quote from: Paul Revere on December 02, 2015, 03:09:06 PM

Some comedy gold in that thread. Poor Tomcat. Undecided

"Duh!? Where am I" Dovaboy and the "Hillbilly" Sciborg make guest appearances on BCT even. And some class A BS from Buckrogers and Bitgeek.

Wow- Bretheren Seth (pd62512005) was even in his meth addled full Paycoiner glory:

Quote

I believe GAW was scammed by the Reddit and Bitcointalk community on launch. You should do a story on how Reddit and Bitcointalk came together to shut out a community that is constantly being scammed by the aforementioned obstructionists. And how they have profited by GAW's attempts to make the Crypto community become mainstream

LOL! GAW was scammed! Damn you Reddit/BCT!

Glad you have it all figgered out thar pardner! Now grab your bucket and get back to work mopping some shithole motel in BF Utah, Seth.

Oh, wow, that's fantastic. I remember dropping all his social media links and he started crying and ran away... Poor Seth & his spiderman underoos! Cheesy

owlcatz

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Quote from: SDRebel on December 02, 2015, 03:31:53 PM

Quote from: truckinusa on December 01, 2015, 08:47:50 PM

I'm also wondering if you can file something with the SEC to recover any losses they are able to recover?

I believe in the past, from the public ponzi scams, they have been able to recoup some money for the victims, but I think i've also seen it that they go and get the money back from those that made money, so divide it equally..(i could be wrong though)

Yes, clawbacks are real indeed. https://bernsteinlaw.com/publications-list/investor-beware-what-everyone-should-know-about-clawback-litigation/

SDRebel

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Quote from: truckinusa on December 01, 2015, 08:47:50 PM

Quote from: ladrx on December 01, 2015, 07:03:57 PM

/r/bitcoin's reaction

https://www.reddit.com/r/Bitcoin/comments/3v0smb/sec_charges_bitcoin_mining_companies_gaw_miners/

best post on /r/bitcoin

@Coinfire More indictments coming. Stuart you have been a bad boy. The FBI doesn't like wire fraud.

I'm also wondering if you can file something with the SEC to recover any losses they are able to recover?

I believe in the past, from the public ponzi scams, they have been able to recoup some money for the victims, but I think i've also seen it that they go and get the money back from those that made money, so divide it equally..(i could be wrong though)

peonminer

hero member

Activity: 798

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Crypto is King.

Are we 'always making money' yet? Cool

Paul Revere

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Activity: 406

Merit: 260

The Scamcoats are coming!

Some comedy gold in that thread. Poor Tomcat. Undecided

"Duh!? Where am I" Dovaboy and the "Hillbilly" Sciborg make guest appearances on BCT even. And some class A BS from Buckrogers and Bitgeek.

Wow- Bretheren Seth (pd62512005) was even in his meth addled full Paycoiner glory:

Quote

I believe GAW was scammed by the Reddit and Bitcointalk community on launch. You should do a story on how Reddit and Bitcointalk came together to shut out a community that is constantly being scammed by the aforementioned obstructionists. And how they have profited by GAW's attempts to make the Crypto community become mainstream

LOL! GAW was scammed! Damn you Reddit/BCT!

Glad you have it all figgered out thar pardner! Now grab your bucket and get back to work mopping some shithole motel in BF Utah, Seth.

owlcatz

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Activity: 3570

Merit: 1959

Quote from: Paul Revere on December 02, 2015, 01:52:15 PM

Quote from: owlcatz on December 02, 2015, 01:40:52 PM

I imagine Cyrus really enjoyed writing this one! Cheesy

http://arstechnica.com/tech-policy/2015/12/feds-sue-yet-another-cryptocurrency-startup-alleging-19m-ponzi-scheme/

Is he the same writer that made the thread here asking opinions about Paycoin ?

Yeah, although I'd be hard pressed to find the posts or his ID at this point, however I do recall the gaw tards trying their damndest to convince him it wasn't a scam, while we all tried knocking them down and shutting them up... Cheesy

Edit - I guess it wasn't that hard after all, thanks google!

https://bitcointalksearch.org/topic/do-you-think-you-were-scammed-by-gaw-tell-ars-technica-923897

Paul Revere

sr. member

Activity: 406

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The Scamcoats are coming!

Quote from: owlcatz on December 02, 2015, 01:40:52 PM

I imagine Cyrus really enjoyed writing this one! Cheesy

http://arstechnica.com/tech-policy/2015/12/feds-sue-yet-another-cryptocurrency-startup-alleging-19m-ponzi-scheme/

Is he the same writer that made the thread here asking opinions about Paycoin ?

owlcatz

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Activity: 3570

Merit: 1959

I imagine Cyrus really enjoyed writing this one! Cheesy

http://arstechnica.com/tech-policy/2015/12/feds-sue-yet-another-cryptocurrency-startup-alleging-19m-ponzi-scheme/

Phildo

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Quote from: Paul Revere on December 02, 2015, 11:52:44 AM

For me personally, the most interesting thing about the forthcoming trial will be the revealing of accomplices. Cryptsy? Lot of transactions ($>BTC during the initital Ponzi, and then later BTC to $ when cashing out of the Paycoin operation.)there- and Buttercoin as well. Also, one would think that the "Friends and Family" that gave Adam Matlack ~$1,000,000 to invest with his highschool chum and BBFL , Josh Garza, will be named if the scope of the trial reaches into the later part of the GAW scheme into the Paycoin operation. Either that or perhaps it will be confirmed once and for all that he was and most likely is still in collusion with Garza on the Paycoin fraud operation.

I have a feeling that million is sitting right next to the 8 million gaw used to "buy" zencloud in garza's imagination.

Paul Revere

sr. member

Activity: 406

Merit: 260

The Scamcoats are coming!

For me personally, the most interesting thing about the forthcoming trial will be the revealing of accomplices. Cryptsy? Lot of transactions ($>BTC during the initital Ponzi, and then later BTC to $ when cashing out of the Paycoin operation.)there- and Buttercoin as well. Also, one would think that the "Friends and Family" that gave Adam Matlack ~$1,000,000 to invest with his highschool chum and BBFL , Josh Garza, will be named if the scope of the trial reaches into the later part of the GAW scheme into the Paycoin operation. Either that or perhaps it will be confirmed once and for all that he was and most likely is still in collusion with Garza on the Paycoin fraud operation.

Topic: GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :) - page 283. (Read 3377974 times)