Paycoin (XPY) is scam - page 17. | Bitcointalksearch.org

rokkyroad

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Quote from: altcoinUK on February 02, 2015, 07:01:34 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.

altcoinUK

hero member

Activity: 784

Merit: 1000

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?

ivankoh

full member

Activity: 1428

Merit: 120

Sugars.zone | DatingFi - Earn for Posting

Agree with the title. If you support XPY you support Fraud. Proven largest scam and fraud after mtgox. He remove the honor program. Lies after lies. All the plan is no plan what credit card purchase or debit card or amazon etc. Nothing. Probably Josh is not even his real name.

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: crypto777 on February 01, 2015, 04:00:06 PM

I don't agree with topic title, but as I understand it is main Paycoin XPY topic on bitcointalk according google -

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=bitcointalk%20paycoin

If you don't like Paycoin XPY - don't use it and ignore but if you talking about it that coin interesting to you. It is simple.

Thanks for the clarification. Your support of paycoin can be attributed either to indifference to supporting unethical companies
and the harm they do to society or just being indifferent to properly researching coins before adding support.

I will be sure to avoid using your service and will recommend others to steer clear of you as well.

Conscientious consumerism does exist.

crypto777

full member

Activity: 221

Merit: 100

Quote from: inBitweTrust on February 01, 2015, 03:43:22 PM

Quote from: crypto777 on February 01, 2015, 03:18:47 PM

New - Paycoin Payment Gateway on GoUrl.io
.

Very interesting that you post your support of paycoin...

I don't agree with topic title, but as I understand it is main Paycoin XPY topic on bitcointalk according google -

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=bitcointalk%20paycoin

If you don't like Paycoin XPY - don't use it and ignore but if you talking about it that coin interesting to you. It is simple.

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: crypto777 on February 01, 2015, 03:18:47 PM

New - Paycoin Payment Gateway on GoUrl.io
.

Very interesting that you post your support of paycoin in the scam thread instead of any other thread. Huge mistake or are you in favor of supporting scams?

crypto777

full member

Activity: 221

Merit: 100

Paycoin Web Plugins/Services on GoUrl.io

a) Available for All internet users online -

Paycoin Monetiser Online - https://gourl.io/view/newurl/Cryptocoin_Monetiser_Make_Money_Online.html
Sell digital files, videos, texts online.

b) Available for PHP Website Owners -

Paycoin/Bitcoin/etc Payment API Class - https://github.com/cryptoapi/Payment-Gateway
Paycoin Payment API with examples - https://gourl.io/paycoin-payment-gateway-api.html

c) Available for Wordpress Website Owners -

I. Paycoin/Bitcoin/etc GoUrl Payment Gateway for Wordpress -
Plugin page: https://gourl.io/bitcoin-wordpress-plugin.html
Wordpress page: https://wordpress.org/plugins/gourl-bitcoin-payment-gateway-paid-downloads-membership/

II. Paycoin Gateway for WooCommerce Addon -
Plugin Page: https://gourl.io/bitcoin-payments-woocommerce.html
Wordpress Page: https://wordpress.org/plugins/gourl-woocommerce-bitcoin-altcoin-payment-gateway-addon/

III. Paycoin Gateway for WP eCommerce Addon -
Plugin Page: https://gourl.io/bitcoin-payments-wp-ecommerce.html
Wordpress Page: https://wordpress.org/plugins/gourl-wp-ecommerce-bitcoin-altcoin-payment-gateway-addon/

IV. Paycoin Gateway for Jigoshop Addon -
Plugin Page: https://gourl.io/bitcoin-payments-jigoshop.html
Wordpress Page: https://wordpress.org/plugins/gourl-jigoshop-bitcoin-payment-gateway-processor/

V. Paycoin Gateway for AppThemes Addon -
Plugin Page: https://gourl.io/bitcoin-appthemes-classipress-jobroller-vantage-etc.html
Wordpress Page: https://wordpress.org/plugins/gourl-appthemes-bitcoin-payments-classipress-vantage-jobroller/

d) Affiliate program for Paycoin/Bitcoin/etc. website/plugin developers -
https://gourl.io/affiliates.html

crypto777

full member

Activity: 221

Merit: 100

New - Paycoin Payment Gateway on GoUrl.io

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

.

jt byte

hero member

Activity: 994

Merit: 500

all those thousands of people who bought in thinking they are going to make a fortune like btc' s early adopters, are going to get burnt

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: inBitweTrust on January 30, 2015, 07:35:48 PM

This is just odd and will likely land GAW in a heap of trouble ... why didn't they continue to simply pay out 1 satoshi as a loop hole as they have been to maintain their promise?

Always profitable.... Never Obsolete?

https://hashtalk.org/topic/30585/zencloud-cloud-mining-disabled

Quote from: WaffleMaster on January 30, 2015, 07:21:21 PM

Aaaand this is where the real lawsuits start. Sorry Homero, you don't tell people something is forever and never obsolete and then take it away and make it completely obsolete beyond reasonable doubt.

HurrY up, get on the horn with a few ambulance chasers, this is solid ground for a Class ACTION!!!

Wow, just wow...

inBitweTrust

hero member

Activity: 658

Merit: 501

This is just odd and will likely land GAW in a heap of trouble ... why didn't they continue to simply pay out 1 satoshi as a loop hole as they have been to maintain their promise?

Always profitable.... Never Obsolete?

https://hashtalk.org/topic/30585/zencloud-cloud-mining-disabled

Quote from: WaffleMaster on January 30, 2015, 07:21:21 PM

Aaaand this is where the real lawsuits start. Sorry Homero, you don't tell people something is forever and never obsolete and then take it away and make it completely obsolete beyond reasonable doubt.

Videlicet

legendary

Activity: 868

Merit: 1058

Creator of Nexus http://nexus.io

Quote from: inBitweTrust on January 29, 2015, 01:50:51 PM

Former Information Security Officer for GAW reveals details How Josh hid information from his employees to keep this scam going:
https://www.linkedin.com/pub/eric-capuano/13/285/308

Quote from: recon_eric on January 29, 2015, 12:50:34 PM

I will say the following, to address your statement at the end. One thing I am comfortably saying publicly, is that nobody in the company had all the pieces to the puzzle except the one who envisioned it all. It's as if that was the intention all along, only share the bare minimum with whom and of what was needed to build it. Even those of us in the "upper echelon" were totally in the dark on many of the "finer details". I am prepared to show any authority who asks, it was immediately upon learning those finer details that moved my hand on resigning. The only regret I carry is how long it took me to see the big picture.

My leaving had nothing to do with rumors of pending investigations as I had already resigned before that was even a topic. I am not a fool, if there is an investigation underway, my leaving doesn't waive my past involvement. I also know that I can confidently answer to anyone who asks that I always stood by what I felt was right.

Hope you guys are having an awesome week.

And they wish Paycoin's destruction was as spectacular as Rome burning. Shame - Paycoin never even amounted to a pleasant destruction.

I hope we learned from this one,
Viz.

inBitweTrust

hero member

Activity: 658

Merit: 501

Former Information Security Officer for GAW reveals details How Josh hid information from his employees to keep this scam going:
https://www.linkedin.com/pub/eric-capuano/13/285/308

Quote from: recon_eric on January 29, 2015, 12:50:34 PM

I will say the following, to address your statement at the end. One thing I am comfortably saying publicly, is that nobody in the company had all the pieces to the puzzle except the one who envisioned it all. It's as if that was the intention all along, only share the bare minimum with whom and of what was needed to build it. Even those of us in the "upper echelon" were totally in the dark on many of the "finer details". I am prepared to show any authority who asks, it was immediately upon learning those finer details that moved my hand on resigning. The only regret I carry is how long it took me to see the big picture.

My leaving had nothing to do with rumors of pending investigations as I had already resigned before that was even a topic. I am not a fool, if there is an investigation underway, my leaving doesn't waive my past involvement. I also know that I can confidently answer to anyone who asks that I always stood by what I felt was right.

Hope you guys are having an awesome week.

BitCoinPokerBro

hero member

Activity: 826

Merit: 1000

It's so fun to watch you guys argue Cheesy

inBitweTrust

hero member

Activity: 658

Merit: 501

Supporters are now coming around to acknowledging our hyper-inflationary concerns we mentioned a month ago-

Quote from: bananafana on January 29, 2015, 11:29:27 AM

This was posted in response. UK_Hash has done some good analysis in the past.
https://hashtalk.org/topic/30504/

EDIT: There's some good stuff in that thread. People getting dangerously close to truth.

inBitweTrust

hero member

Activity: 658

Merit: 501

Some troubling signs --

From 51 PRIME ADDRESSES LARGE AMOUNTs OF XPY are being moved. Suspected that they are slowly being dumped at exchanges for BTC.
https://hashtalk.org/topic/30495/need-everyones-attention
https://hashtalk.org/topic/30400/crazy-anyone-notice-this

Many reports of people having trouble withdrawing from paybase which are temporarily resolved than re-appear again a day later.

Josh's house is for sale and bedrooms already empty:

Quote from: maildir on January 29, 2015, 07:29:17 AM

SERIOUSLY BAD NEWS Sad

Garbozo's house is up for sale !

Getting ready to flee? Or to be spun around needs the money to pay everyone back thus showing his commitment?

Quote

Homero J Garza
Age: 30-34
Phone number
413-xxx-xxxx
Address
14 High Meadow Cir
East Longmeadow, MA 01028-3171

http://www.newenglandmoves.com/property/details/1086872/MLS-71756401/14-High-Meadow-Cir-East-Longmeadow-MA-01028.aspx

Quote

Property Detail
14 High Meadow Cir
East Longmeadow, MA 01028

Magnificient 1990 custom Williamsburg brick colonial. Exquisite architectural details throughout! Spectacular theater and various entertainment areas are but a few of the many features
Price:$969,000

Crestington

legendary

Activity: 882

Merit: 1024

Quote from: barabbas on January 27, 2015, 07:29:50 PM

Quote from: Crestington on January 27, 2015, 07:24:48 PM

Quote from: barabbas on January 27, 2015, 07:20:26 PM

Quote from: Crestington on January 27, 2015, 07:05:58 PM

Quote from: barabbas on January 27, 2015, 06:53:32 PM

I fully disagree: Regulation -and subsequent full compliance- is not just inevitable but necessary to eliminate the bad players. And, regardless of opinion, in USA it isn't just coming, it is already here, so I believe he is ahead of the curve and very intelligent in pre-empting rather than following.

Furthermore, altcoins -including BTC-, have failed miserably to serve an actual real life purpose so far. Adoption is minimal -and dwindling- and use case very limited (although expanding slowly). The idea behind PayCoin to line up tens of thousands of merchants IS indeed the right one towards the full adoption and usage in the real world. A real world that want to be protected against scams and don't care if it is centralized, decentralized or dances samba.

It is a major, major undertaking and he have jumped the gun on a couple of key things ... which will cost him, no question. But will the project fully materialize, survive and eventually thrive? No one knows at this stage.

I for one believe he has better chances than any other out there... but it is by no means an easy undertaking.

Interest in AltCoins are expanding, not decreasing. Adoption is not minimal at all, just check out some graphs of posting on Bitcointalk the amount of posts per day are increasing every day and at the rate it's going just Bitcointalk itself will be a massive enterprise within 2-3 years.

I do agree with the rest of what you said, really all a Cryptocurrency needs to do is to survive in the wild, maybe it will work, maybe it won't.

The good thing about data is that you really cannot argue with it: You can google the recent study showing the minimal increment in adoption of BTC (and none of non-BTC has ANY rate of adoption at all, lets make that perfectly clear). I believe it is -BTC- at only 5% more than it was in 2013, for all or 2014... so that's not arguable, is it?

BTCT is a place visited by the initiated only, not by any regular people at all -other than the newly interested, which are normally people without any money at all and average age 16. It in no way, shape or form reflects the levels of adoption of cryptocurrencies out there in the real world.

Take away the market data and look at the amount of people with general knowledge in the field and compare that to when you first started. The reason you see minimal impact of other Coins are because there are so many of them, many may never be useful or will die off but the amount of people working on Blockchain technology has grown exponentially.

With that I agree. Including IBM (working on blockchain tech).

But that doesn't reflect, so far, in any significant growth in the rate of adoption or BTC and much less of any other altcoins.

As a matter of fact, the opposite seems to be happening, as many people scammed run away from crypto for good.

Survival of the fittest in a free market, some will leave and some will comeback and some will stay no matter what.

I recently watched a Youtube video on Friedrich Hayek, a famous economist during the 1929 Stock Market crash and his ideas on deregulation of all currencies and that for a real market, the more open and free the market the better and I think it relates to Cryptocurrencies in general quite a bit.

https://www.youtube.com/watch?v=A8bfTjp6Xw0

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: Crestington on January 27, 2015, 07:24:48 PM

Quote from: barabbas on January 27, 2015, 07:20:26 PM

Quote from: Crestington on January 27, 2015, 07:05:58 PM

Quote from: barabbas on January 27, 2015, 06:53:32 PM

I fully disagree: Regulation -and subsequent full compliance- is not just inevitable but necessary to eliminate the bad players. And, regardless of opinion, in USA it isn't just coming, it is already here, so I believe he is ahead of the curve and very intelligent in pre-empting rather than following.

Furthermore, altcoins -including BTC-, have failed miserably to serve an actual real life purpose so far. Adoption is minimal -and dwindling- and use case very limited (although expanding slowly). The idea behind PayCoin to line up tens of thousands of merchants IS indeed the right one towards the full adoption and usage in the real world. A real world that want to be protected against scams and don't care if it is centralized, decentralized or dances samba.

It is a major, major undertaking and he have jumped the gun on a couple of key things ... which will cost him, no question. But will the project fully materialize, survive and eventually thrive? No one knows at this stage.

I for one believe he has better chances than any other out there... but it is by no means an easy undertaking.

Interest in AltCoins are expanding, not decreasing. Adoption is not minimal at all, just check out some graphs of posting on Bitcointalk the amount of posts per day are increasing every day and at the rate it's going just Bitcointalk itself will be a massive enterprise within 2-3 years.

I do agree with the rest of what you said, really all a Cryptocurrency needs to do is to survive in the wild, maybe it will work, maybe it won't.

The good thing about data is that you really cannot argue with it: You can google the recent study showing the minimal increment in adoption of BTC (and none of non-BTC has ANY rate of adoption at all, lets make that perfectly clear). I believe it is -BTC- at only 5% more than it was in 2013, for all or 2014... so that's not arguable, is it?

BTCT is a place visited by the initiated only, not by any regular people at all -other than the newly interested, which are normally people without any money at all and average age 16. It in no way, shape or form reflects the levels of adoption of cryptocurrencies out there in the real world.

Take away the market data and look at the amount of people with general knowledge in the field and compare that to when you first started. The reason you see minimal impact of other Coins are because there are so many of them, many may never be useful or will die off but the amount of people working on Blockchain technology has grown exponentially.

With that I agree. Including IBM (working on blockchain tech).

But that doesn't reflect, so far, in any significant growth in the rate of adoption or BTC and much less of any other altcoins.

As a matter of fact, the opposite seems to be happening, as many people scammed run away from crypto for good.

Crestington

legendary

Activity: 882

Merit: 1024

Quote from: barabbas on January 27, 2015, 07:20:26 PM

Quote from: Crestington on January 27, 2015, 07:05:58 PM

Quote from: barabbas on January 27, 2015, 06:53:32 PM

I fully disagree: Regulation -and subsequent full compliance- is not just inevitable but necessary to eliminate the bad players. And, regardless of opinion, in USA it isn't just coming, it is already here, so I believe he is ahead of the curve and very intelligent in pre-empting rather than following.

Furthermore, altcoins -including BTC-, have failed miserably to serve an actual real life purpose so far. Adoption is minimal -and dwindling- and use case very limited (although expanding slowly). The idea behind PayCoin to line up tens of thousands of merchants IS indeed the right one towards the full adoption and usage in the real world. A real world that want to be protected against scams and don't care if it is centralized, decentralized or dances samba.

It is a major, major undertaking and he have jumped the gun on a couple of key things ... which will cost him, no question. But will the project fully materialize, survive and eventually thrive? No one knows at this stage.

I for one believe he has better chances than any other out there... but it is by no means an easy undertaking.

Interest in AltCoins are expanding, not decreasing. Adoption is not minimal at all, just check out some graphs of posting on Bitcointalk the amount of posts per day are increasing every day and at the rate it's going just Bitcointalk itself will be a massive enterprise within 2-3 years.

I do agree with the rest of what you said, really all a Cryptocurrency needs to do is to survive in the wild, maybe it will work, maybe it won't.

The good thing about data is that you really cannot argue with it: You can google the recent study showing the minimal increment in adoption of BTC (and none of non-BTC has ANY rate of adoption at all, lets make that perfectly clear). I believe it is -BTC- at only 5% more than it was in 2013, for all or 2014... so that's not arguable, is it?

BTCT is a place visited by the initiated only, not by any regular people at all -other than the newly interested, which are normally people without any money at all and average age 16. It in no way, shape or form reflects the levels of adoption of cryptocurrencies out there in the real world.

Take away the market data and look at the amount of people with general knowledge in the field and compare that to when you first started. The reason you see minimal impact of other Coins are because there are so many of them, many may never be useful or will die off but the amount of people working on Blockchain technology has grown exponentially.

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: DaveWave on January 27, 2015, 06:57:06 PM

ps, I agree, Josh is very intelligent. Are you?

That's for others to decide. Me? I only know that I don't know anything...

Topic: Paycoin (XPY) is scam - page 17. (Read 79551 times)