That all breaks down when they run their free money printers.
And "coincidentally" they "turned them off" (Just delayed the payout) when they started this pump. It is disturbing to see people like Buckeye that are so easily duped that they will believe the same pack of liars over and over.
This is what my understanding is:
- At first they set a configuration variable to 250k so that the primary controller needed 250k in order to stake (and that was set in a config file). I have NOT looked at code to know if that is or is not how the need for 125k coins is set. But, Phil set his ganza controllers to that state when all of that stuff blew up.
- Then they decided that if they were now just wallets, they didn't need to be powered on at all, so powered them down. By that time, the XPYDevs had covered the coins needed for their hashlet thingies (still don't understand that whole thing, but they were supposed to be getting some sort of payout on hashlets?), so the XPYDev controllers and Phil's controllers were powered down (as in no electricity, physically powered down)
- Then it was brought up that the the controllers would just 'catch up' when powered up because coinage still accumulates.
- So, it was decided the coins would be moved out of the controllers and back in so that coinage would set to 0 when/if the controllers were turned back on. I'm running the PayCON wallet and have seen that if I move coins between addresses, in PayCON at least, it sets the coinage back to 0.
Now, I don't know if they've done the coin move or not, but it seems that at least a few coins will be minted while they're moving them out of the controller. But, it shouldn't be a catch up for an entire month, 2 months, or what ever. So, to me that seems like a reasonable way to stop coin minting in the short term.
But, people have asked about accumulating coinage and they have stated a plan for it. Now, if they fire them up and go at it... well, that would be a big "We're no different than Ganza" flag that should be shoved up a few select people's butts as a permanent marker that they're total dicks.
The biggest thing I wonder about is the shuffling that you're pointing out... why the hell is that even going on. And the jump in coins yesterday? Where the hell did that come from?
I'd seen this floating around on reddit for a long time before I ever came here to start reading about it. I've never bought XPY (but do hold 175 coins). I've been trying to put together a timeline of all this shit, maybe it can be an educational resource in the future to keep other people from falling for these scam artists. But, I don't have an emotional dog in this fight beyond the fact that it's bad for BTC and crypto as a whole.
This whole fiasco might also bring a closer look at the whole idea of staking coins... for example, I can't actually print dollar bills in the US. So, why does the SEC allow staking coins that are essentially printing crypto coins? Is that really any different than what the Federal Reserve is doing?
It only resets your Coinage for the particular Coins that are moved. When attributing Coinage to Staking, Coinage is just the measure of when it will Stake but not exactly how much it would Stake so you can have maximum Coinage but the amount received would still be the amount of Coins times the amount of days past so if a prime wallet is offline for a while it would have maximum coinage but would still Stake more Coins when brought back online the longer it's left offline.
So "they" can't all sell... Kind of..
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PayCoin 