Paycoin (XPY) is scam - page 16. | Bitcointalksearch.org

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: LiteCoinGuy on February 04, 2015, 03:52:46 PM

GAW Miners Attorneys Confirm SEC Investigation

On January 19th, Coin Fire exclusively brought you information regarding a Securities and Exchange Commission investigation against GAW Miners and Josh Garza. The documents provided solely to Coin Fire from vetted and confirmed Commission employees detailed an on-going and active investigation against the company, several investors, affiliates, and Mr. Garza.

http://coinfire.io/2015/02/04/gaw-miners-attorneys-confirm-sec-investigation/

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: cloverme on February 05, 2015, 02:07:38 PM

Quote from: inBitweTrust on February 05, 2015, 09:22:31 AM

http://www.coindesk.com/turmoil-gaw-miners-phone-service/

Amazing... As soon as I read the article yesterday about Josh getting ready to step down and then this article that the whole company is going into FUBAR mode, it's clear to anyone what is about to happen next. I dumped all my XPY this morning, sadly just under $1, hoping for that $20 Honors program is a mistake, it's not going to happen. I have a feeling that XPY is going to be a penny-coin here in short order. Thanks for the link!

You seem to have acted as sharply as usual. But if you feel good about it, I'm very happy for you...

Next time if you give us the heads up just before you pull the trigger, we can benefit knowing, for sure, that's time to buy.

And just like clockwork, trading at 20% above where you sold... ain't that uncanny? actually make that 30%...

cloverme

legendary

Activity: 1512

Merit: 1057

SpacePirate.io

Quote from: inBitweTrust on February 05, 2015, 09:22:31 AM

http://www.coindesk.com/turmoil-gaw-miners-phone-service/

Amazing... As soon as I read the article yesterday about Josh getting ready to step down and then this article that the whole company is going into FUBAR mode, it's clear to anyone what is about to happen next. I dumped all my XPY this morning, sadly just under $1, hoping for that $20 Honors program is a mistake, it's not going to happen. I have a feeling that XPY is going to be a penny-coin here in short order. Thanks for the link!

nachoig

sr. member

Activity: 252

Merit: 250

Quote from: Banjiro on February 05, 2015, 12:06:08 PM

what happened this coin
u really paycoin is scam? omg
I have this coin, but I buy 0.011 and price now 0.004 loss again. Angry

Sell this shit before the next crash.

Lies, broken promises of 20 USD floor and merchant adoption, high inflation, centralization of the staking, no serious development, bans and shadowbans on their forum. And they don't accept their own coin.

HarryPotHead

full member

Activity: 192

Merit: 100

You are what you eat. PIZZA!

Quote from: laxsmarts on February 05, 2015, 12:13:44 PM

Quote from: Banjiro on February 05, 2015, 12:06:08 PM

what happened this coin
u really paycoin is scam? omg
I have this coin, but I buy 0.011 and price now 0.004 loss again. Angry

yeah try not to hang on to alt coins for to long. their price will fluctuate. i don't know if it will make it up to .01 again but there is always a chance that it will be pumped again at some point . sorry for you loss i hope you did'ent buy to many

There is fluctuate and there is losing more than 50% Shocked

Unlucky buddy i hope it jumps abit so you can get out with a smaller loss

laxsmarts

newbie

Activity: 20

Merit: 0

Quote from: Banjiro on February 05, 2015, 12:06:08 PM

what happened this coin
u really paycoin is scam? omg
I have this coin, but I buy 0.011 and price now 0.004 loss again. Angry

yeah try not to hang on to alt coins for to long. their price will fluctuate. i don't know if it will make it up to .01 again but there is always a chance that it will be pumped again at some point . sorry for you loss i hope you did'ent buy to many

Banjiro

legendary

Activity: 1288

Merit: 1001

what happened this coin
u really paycoin is scam? omg
I have this coin, but I buy 0.011 and price now 0.004 loss again. Angry

BTCwriter

legendary

Activity: 1008

Merit: 1000

Quote from: ?? on ??

Quote from: rokkyroad on February 02, 2015, 12:49:43 PM

Looking at the train of events in the last 2 months; especially the sell off of hardware and closure of zencloud mining; one should now expect Gaw to file for bankruptcy.

Bankruptcy will protect him from litigation(for the most part) and he will be able to move on with little consequence. No one will know how much he milked from paycoin and it will be impossible to track.

I don't expect them to file for bankcruptcy. They will definitely make things up.

Yes, he can dumps all the Paycoins he have and make millions and get away with it, rescue his real businesses. I am expecting more dumps from him/them coming.

laxsmarts

newbie

Activity: 20

Merit: 0

yeah when i first saw gaw miners website i could tell it was going to end badly. i could tell because they where using lost of fancy words instead of just explaining exactly what their product did. the most used word was INNOVATION. the way it was typed was trying to make you feel that if you dident buy right now you would lose out. that is a good indication of a scam

General_A

member

Activity: 70

Merit: 10

Quote from: inBitweTrust on February 01, 2015, 03:09:58 PM

-snip-
Conscientious consumerism does exist.

Conscientious consumerism - I love this term. I love its implications.

inBitweTrust

hero member

Activity: 658

Merit: 501

http://www.coindesk.com/turmoil-gaw-miners-phone-service/

Punggawa

legendary

Activity: 1428

Merit: 1002

I dont believe paycoin is scam
just i think need new project to up this coin. I think so.

muhrohmat

sr. member

Activity: 252

Merit: 250

ok i will se more of this XPY coin but let me tell you the fact of zen miners clouds going off on cloud for allt and btc makes me realise that stakers are just a thing to be in cloud now and the xpy should go to those 20 dollar per unit.

BTCwriter

legendary

Activity: 1008

Merit: 1000

Quote from: crypto777 on February 01, 2015, 02:18:47 PM

New - Paycoin Payment Gateway on GoUrl.io

https://gourl.io/paycoin-payment-gateway-api.html

.

Coinpayment.net is the king in this crypto payment gateway. I see PayCoin is trying really hard to get into the lists with other already accepted coins.
https://www.coinpayments.net/vote

btcjoin14

hero member

Activity: 891

Merit: 500

I guess they leave criticism unanswered and let these threads sink. but people are becoming aware.

bitgeek

sr. member

Activity: 462

Merit: 251

Quote from: Deadstock on February 02, 2015, 12:25:21 PM

All this unfolding and yet the hashtalk cultists are still doing everything they can to verbally please Josh Garza..its sad

He's the face of the company but not the only person responsible, he also invested his private money in this.

rokkyroad

legendary

Activity: 1090

Merit: 1000

Looking at the train of events in the last 2 months; especially the sell off of hardware and closure of zencloud mining; one should now expect Gaw to file for bankruptcy.

Bankruptcy will protect him from litigation(for the most part) and he will be able to move on with little consequence. No one will know how much he milked from paycoin and it will be impossible to track.

Deadstock

full member

Activity: 156

Merit: 100

All this unfolding and yet the hashtalk cultists are still doing everything they can to verbally please Josh Garza..its sad

rokkyroad

legendary

Activity: 1090

Merit: 1000

Vancefox did an analysis on the paycoin blockchain. Here is one of his posts which pretty well sums it up. https://bitcointalksearch.org/topic/m.10146342

Quote

Just start from block one and look where the coins go... They split all the way down and whenever a dispersal happens the leftover goes to a completely new address. This premine dispersal script, in my opinion, is designed to make it difficult to see exactly how many coins were not allocated to either "primes" or hashpoint conversions.

There very well may be tens of thousands, or hundreds of thousands, of XPY spread out in small 100 coin or less balances that are being used to create pure profit through PayBase credit card purchases and/or slowly dripping into the exchanges.

This is my main concern about the long term viability of this coin. There is absolutely no accounting for all 12 million coins.

Paycoin appears to be a well executed ~~scam~~ plan from the start.

altcoinUK

hero member

Activity: 784

Merit: 1000

Quote from: rokkyroad on February 02, 2015, 11:24:50 AM

Quote from: altcoinUK on February 02, 2015, 06:01:34 AM

I stayed away from this and know very little about the coin, out of sheer curiosity, could anyone let me know how much the GAW CEO has collected from selling Paycoin? I read somewhere it was around $ 30 million, is that really what he has received?

I don't think anyone has been able to pin down the numbers.
Paycoin was PRE-MINED with a small portion set aside for miners. There was also an IPO/ICO that ran for months.
Not to mention the high percentage rates of coins produced by Orion controllers. I heard it was up to 3000% when it should have been max of 350%.

That is why PRE-MINE and ICO/IPO/ITO are dirty words in the cryptocurrency world. It is too easy for unscrupulous developers to put their fingers in the cookie jar.

Are you saying there is no blockchain explorer, one that would clearly state how many coins were premined, mined, created from thin air, etc. and how many was sold and when?

As for the ICO/IPO/ITO - I couldn't agree more, it destroys the crypto market before it could mature.

Topic: Paycoin (XPY) is scam - page 16. (Read 79580 times)