Paycoin (XPY) is scam - page 12. | Bitcointalksearch.org

Vlad2Vlad

legendary

Activity: 3052

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www.ixcoin.net

Quote from: suchmoon on March 03, 2015, 01:25:32 AM

Just to make sure nobody falls for that drivel - Vlad has no clue about XPY and is making shit up in a desperate attempt to pump it.

HashStakers have nothing to do with inflation. HashStakers are just PNGs on a website, that's all. Inflation is hardcoded in the wallet code and would need a hard fork to turn it off. Check the source code on github. Nothing has been killed so far.

Yes, I'm trying to pump XPY so hard that I'm publicly posting that I think it's gonna hit $.50 very soon.

That's my plan, reverse psychology.

You busted me.

bitwho

legendary

Activity: 1274

Merit: 1000

https://hashtalk.org/topic/32948/gaw-needs-to-respond-to-this/

http://coinbrief.net/gaw-miners-fraud/

suchmoon

legendary

Activity: 3654

Merit: 8909

https://bpip.org

Just to make sure nobody falls for that drivel - Vlad has no clue about XPY and is making shit up in a desperate attempt to pump it.

HashStakers have nothing to do with inflation. HashStakers are just PNGs on a website, that's all. Inflation is hardcoded in the wallet code and would need a hard fork to turn it off. Check the source code on github. Nothing has been killed so far.

Vlad2Vlad

legendary

Activity: 3052

Merit: 1534

www.ixcoin.net

Quote from: stopsigningbitch on March 02, 2015, 03:29:46 PM

LOL, 117% to 350% inflation rate. That's very self sustainable for a "currency", ROFL (sarcasm).

It looks that way but if you look closely at the actual inflationary design, it's brilliant.

For example, they just killed a huge portion of it by suddenly stopping the sale of hashstakers.

And they can easily kill a huge portion of the prime controller inflation as well any time they choose.

Not many coins can do that by design - without a necessary hard fork. So it would appear that XPY was actually well thought out by some bright economic/finance minds before launch.

stopsigningbitch

newbie

Activity: 28

Merit: 0

Quote from: inBitweTrust on March 02, 2015, 08:32:47 AM

Quote from: EvilDave on March 02, 2015, 08:13:10 AM

Looking at CMC...I'm seeing a increase in market cap thru inflation of the supply, not a price increase per individual Paycoin.

Just guessing from what I've seen, there seem to be about 100,000 fresh XPY per day being added.
Anyone have real numbers for the inflation rate on XPY ?

https://chainz.cryptoid.info/xpy/#@inflation

The inflation rates are variable depending upon many factors but can be as high as 350% if you are GAW.
The average inflation as a whole is around 117% at the moment.

LOL, 117% to 350% inflation rate. That's very self sustainable for a "currency", ROFL (sarcasm).

Btcvilla

sr. member

Activity: 1078

Merit: 270

So how many of you fell for this scam coin?

suchmoon

legendary

Activity: 3654

Merit: 8909

https://bpip.org

It was the evil haxorz.

Quote

On Friday, February 27, we learned about a coordinated and very sophisticated effort to exploit the databases for PayBase and ZenCloud. As soon as we discovered this, we felt it imperative to shut down the wallet withdrawal service, in the best interest of our customers and community. We're sorry for any inconvenience this may have caused.

We felt it was important to provide general, non-specific communications as to the identity of the hackers / violators our networks, since they did not know we had discovered what they were doing. This, we felt, was precautionary and again, in your best interest.

While this was happening, we had all hands on deck verifying every database and ensuring there were no other holes or doors they could use. Verification of all databases is in the final stages and we expect to be online later this week, if not sooner.

We also wanted to point out that our existing precautionary measures such as "Pending Withdrawal" function worked as it should, giving us the ability to verify withdrawal transactions. This layer of security made it possible to protect all property, funds and PayCoins.

https://hashtalk.org/topic/32776

Mi5h0

sr. member

Activity: 560

Merit: 273

Quote from: EvilDave on March 02, 2015, 08:13:10 AM

Looking at CMC...I'm seeing a increase in market cap thru inflation of the supply, not a price increase per individual Paycoin.

Just guessing from what I've seen, there seem to be about 100,000 fresh XPY per day being added.
Anyone have real numbers for the inflation rate on XPY ?

I do not know exact numbers but according to this, a lot!
https://chainz.cryptoid.info/xpy/#@inflation

So much for the theory that the production of new coins depend on the demand ...

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: EvilDave on March 02, 2015, 08:13:10 AM

Looking at CMC...I'm seeing a increase in market cap thru inflation of the supply, not a price increase per individual Paycoin.

Just guessing from what I've seen, there seem to be about 100,000 fresh XPY per day being added.
Anyone have real numbers for the inflation rate on XPY ?

https://chainz.cryptoid.info/xpy/#@inflation

The inflation rates are variable depending upon many factors but can be as high as 350% if you are GAW.
The average inflation as a whole is around 117% at the moment.

EvilDave

hero member

Activity: 854

Merit: 1001

Looking at CMC...I'm seeing a increase in market cap thru inflation of the supply, not a price increase per individual Paycoin.

Just guessing from what I've seen, there seem to be about 100,000 fresh XPY per day being added.
Anyone have real numbers for the inflation rate on XPY ?

nzminer

legendary

Activity: 1918

Merit: 1001

Why has there been an increase in price yet Mastercard has come out and said they have no connection to paycoin?

stopsigningbitch

newbie

Activity: 28

Merit: 0

Anyone that buys Paycoin and actually believe it has any longterm potential is an idiot.

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: Vlad2Vlad on March 01, 2015, 05:18:16 AM

If this were an intentional delay, can someone explain the cause and effect?

Thanks!

It is very simple. GAW may not have the liquidity to cover the BTC attempted to withdraw from paybase and is also preventing XPY from being withdrawn temporarily because they are trying to cover the BTC / Fiat (for operational expenses) shortfall by dumping their own XPY on outside exchanges without having the risk of their clients doing so as well.

We don't know this is absolutely happening, just like no one was 100% sure that MtGox was delaying/stopping withdrawals due to legal or security issues but it is another warning sign amongst many.

You have to keep in mind that not only is high inflation putting sell pressure upon paycoin but that is now the main source of revenue that is covering GAW operations. This is likely why many of GAWs' staff has either left or been fired as well.

Vlad2Vlad

legendary

Activity: 3052

Merit: 1534

www.ixcoin.net

Quote from: inBitweTrust on February 28, 2015, 11:17:21 PM

Paybase and Zencloud withdrawals in XPY and BTC have been down for a day now. While it is possibly there is a "technical" issue being resolved it could also be a liquidity dilemma as well.

https://hashtalk.org/topic/32737/zencloud-withdraws-not-working-for-either-xpy-or-btc/2
https://archive.today/49uqL

https://hashtalk.org/topic/32776/paybase-service-update-2-27-2015/106

All victims of paycoin should be advised to store their XPY and btc out of any GAW services and sites.

If this were an intentional delay, can someone explain the cause and effect?

Thanks!

inBitweTrust

hero member

Activity: 658

Merit: 501

Paybase and Zencloud withdrawals in XPY and BTC have been down for a day now. While it is possibly there is a "technical" issue being resolved it could also be a liquidity dilemma as well.

https://hashtalk.org/topic/32737/zencloud-withdraws-not-working-for-either-xpy-or-btc/2
https://archive.today/49uqL

https://hashtalk.org/topic/32776/paybase-service-update-2-27-2015/106

All victims of paycoin should be advised to store their XPY and btc out of any GAW services and sites.

nzminer

legendary

Activity: 1918

Merit: 1001

Why wont this coin just "die" Huh

?

Mi5h0

sr. member

Activity: 560

Merit: 273

It will be interesting to see how will mr. Garza step back from this one...
This man never seems to be running out of 'good' excuses Cheesy

Sir Alpha_goy

sr. member

Activity: 448

Merit: 250

.

5ick3uffalo

legendary

Activity: 994

Merit: 1000

http://coinfire.io/2015/02/25/mastercard-denies-paycoin-partnership/

Mastercard didn´t even know what PayCoin is lol

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: Vlad2Vlad on February 28, 2015, 02:58:23 AM

Another XPY thread. At least this one is more fact based rather than hate mongering like that 1200 page one. Nothing but idiots over there.

Cheers!

It seems to still be a mission for a bunch of people. Amazing indeed.

Topic: Paycoin (XPY) is scam - page 12. (Read 79551 times)