Topic: GAW Miners, Josh Garza, Paybase, Paycoin - SEC investigation (Read 2428 times)
i wish all the best for that case. hopefully garza will end in jail for some time. make sure you copy every evidence you have and sent it to the SEC.
http://finance.yahoo.com/news/gaw-miners-announces-plans-initial-120000855.html
Quote
"Although relatively new, cryptocurrency is shifting the economic paradigm and that is reason enough for traditional financial organizations to start taking this seriously," said co-founder and early investor, Stuart Fraser, Vice Chairman and partner, Cantor Fitzgerald, L.P. "With the marrying of innovation, technology, finance and regulation -- I believe that cryptocurrency can provide a value proposition that has never before been contemplated in global commerce and thus has the real possibility of being a viable mainstream currency accepted by the masses around the globe."
It's almost like you're suggesting that GAW have intentionally misled people into thinking that paragraph means Stuart Fraser is a 'co-founder and early investor' of Paycoin, instead of it simply being a generic quote about cryptocurrency taken out of context. If they were misleading people into believing such a thing, it would mean that https://twitter.com/GTAUKSTER is likely a sock-puppet account created by GAW solely to look like Mr Fraser is tweeting love notes to Josh and Co since this article was released.
Surely, not.
So, finally my intuition is going to turn into reality... Was thinking at the start of this coin and it's services only that when these GAW people were not able to complete their promises before, how they were to do it this time? They said that the price of 1 XPY won't go down under $20, saying they have some funds reserved for the stability of the value of Paycoin, and see, where it is currently... Ain't it enough for everyone to understand now that they are all scammers?
Quote from: coinfire.cf
... a statement from Mr. Garza in August of 2014. Mr. Garza stated that a percentage of the profits for ZenPool came from “day trading.” The fact that he stated it was from day trading created a situation in which, according to various securities laws, makes it a security.
So the ZenPool is not a mining pool? It's a "day trading" fund!
I have never understood their Paycoin. Why deviate from what they were doing well before (mining) and introduce this Paycoin thing and created a media crisis and now investigations by the SEC.
Most likely greed happened. You reap what you sow as they say.
the greed ruins any business in the end.
Quote from: coinfire.cf
... a statement from Mr. Garza in August of 2014. Mr. Garza stated that a percentage of the profits for ZenPool came from “day trading.” The fact that he stated it was from day trading created a situation in which, according to various securities laws, makes it a security.
So the ZenPool is not a mining pool? It's a "day trading" fund!
I have never understood their Paycoin. Why deviate from what they were doing well before (mining) and introduce this Paycoin thing and created a media crisis and now investigations by the SEC.
This is will bring another BAD press for Bitcoin very soon.
I love how theres a "GOVERNMENT = BAD" post in every thread yet nobody hesitates to beg them for help in shutting down schemes like this.
This precisely
Why blame anyone but yourself when mt.gox/mintpal/GAW etc happens? You have no power yet pretends to know/act better then the government haha.
Quote from: coinfire.cf
... a statement from Mr. Garza in August of 2014. Mr. Garza stated that a percentage of the profits for ZenPool came from “day trading.” The fact that he stated it was from day trading created a situation in which, according to various securities laws, makes it a security.
So the ZenPool is not a mining pool? It's a "day trading" fund!
I have never understood their Paycoin. Why deviate from what they were doing well before (mining) and introduce this Paycoin thing and created a media crisis and now investigations by the SEC.
I would like to see that comment at its source. If it is real, then I have no doubt GAW that is running a ponzi scheme. Pirate also claimed his Ponzi scheme derived its profit from day-trading. When they start obscuring the sources of their profits, then you can be sure that it is a scam.
I love how theres a "GOVERNMENT = BAD" post in every thread yet nobody hesitates to beg them for help in shutting down schemes like this.
Quote from: coinfire.cf
... a statement from Mr. Garza in August of 2014. Mr. Garza stated that a percentage of the profits for ZenPool came from “day trading.” The fact that he stated it was from day trading created a situation in which, according to various securities laws, makes it a security.
So the ZenPool is not a mining pool? It's a "day trading" fund!
I have never understood their Paycoin. Why deviate from what they were doing well before (mining) and introduce this Paycoin thing and created a media crisis and now investigations by the SEC.
Most likely greed happened. You reap what you sow as they say.
Interesting. I was under the impression that GAW Miners were one of the more legitimate businesses in the industry. Their CEO is public and his real identity is known unlike many of the other cloud mining companies where everything is anonymous.
This may be fake, like I said in another thread there's no proof there is an investigation. Coinfire refused to provide proof and there's nothing on the official SEC site http://www.sec.gov/litigation/admin.shtmlDig deeper, Josh and his GAW isn't legitimate...
Hashnest is owned by Bitmain and sends you the physical miner when unprofitable, seems like that cloud mining is not a scam to me.
Quote
Cloud mining = ponzi and all of them will be closed.
and how about such sites as bit-x or cex.iocex.io = closed
bit-x = a "game" from China
If they have the spare capacity... Why aren't "they" mining with it and they want to "share"?
Clearly, it's more profitable for them to "rent"(scam) you the capacity than to mine themselves.
Quote
Cloud mining = ponzi and all of them will be closed.
and how about such sites as bit-x or cex.io 
Interesting. I was under the impression that GAW Miners were one of the more legitimate businesses in the industry. Their CEO is public and his real identity is known unlike many of the other cloud mining companies where everything is anonymous.
Quote from: coinfire.cf
... a statement from Mr. Garza in August of 2014. Mr. Garza stated that a percentage of the profits for ZenPool came from “day trading.” The fact that he stated it was from day trading created a situation in which, according to various securities laws, makes it a security.
So the ZenPool is not a mining pool? It's a "day trading" fund!
I have never understood their Paycoin. Why deviate from what they were doing well before (mining) and introduce this Paycoin thing and created a media crisis and now investigations by the SEC.
Another cloud mining under investigation.
https://coinfire.cf/2015/01/19/sec-investigation-of-gaw-miners-underway/
Cloud mining = ponzi and all of them will be closed.
Withdraw your funds as soon as you can (IF you can).
https://coinfire.cf/2015/01/19/sec-investigation-of-gaw-miners-underway/
Cloud mining = ponzi and all of them will be closed.
Withdraw your funds as soon as you can (IF you can).
Josh has scammed people on multiple fronts which is not limited to cloud mining.
cloud mining it seems to be "sale of securites" in USA and it is regulated by SEC. it's the same in almost any country. That's why i am saying that cloud mining is either ponzi either sale of securities
Another cloud mining under investigation.
https://coinfire.cf/2015/01/19/sec-investigation-of-gaw-miners-underway/
Cloud mining = ponzi and all of them will be closed.
Withdraw your funds as soon as you can (IF you can).
https://coinfire.cf/2015/01/19/sec-investigation-of-gaw-miners-underway/
Cloud mining = ponzi and all of them will be closed.
Withdraw your funds as soon as you can (IF you can).
Josh has scammed people on multiple fronts which is not limited to cloud mining.
http://finance.yahoo.com/news/gaw-miners-announces-plans-initial-120000855.html
Quote
"Although relatively new, cryptocurrency is shifting the economic paradigm and that is reason enough for traditional financial organizations to start taking this seriously," said co-founder and early investor, Stuart Fraser, Vice Chairman and partner, Cantor Fitzgerald, L.P. "With the marrying of innovation, technology, finance and regulation -- I believe that cryptocurrency can provide a value proposition that has never before been contemplated in global commerce and thus has the real possibility of being a viable mainstream currency accepted by the masses around the globe."
The bugger deserves all the money taken from him. Hope they do it!
I hope that all criminals go to jail, they are killing btc
most of them will reach there sooner or later.
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