Topic: Paycoin (XPY) is scam - page 28. (Read 79581 times)
Such a shame , this gives everyone a bad name in our ecosystem.
honestly- when the market hit like 3.50 something I was sooooooooooo tempted to buy a shit load of XPY because I know it's going to bounce at least 30% or something like that, and then I thought: No.
Of course, I still wish I hadstolen earned that 30% of the chaos that is that crapstorm, but the truth of the matter is it's totally gambling. The project is doomed if only because what GAW has done (promising the $20 floor) is simply illegal, and then was illegal when they didn't follow through with it anyway. As I have absolutely no way of knowing when the hand of the law will make it's appearance (and it WILL make it's appearance) I thought it better to just avoid it all together.
The con artists and vultures are out in numbers though. So for those who have already been conned- don't lose the skin off your back as well.
Of course, I still wish I had
The con artists and vultures are out in numbers though. So for those who have already been conned- don't lose the skin off your back as well.
Good post. Not the time to be playing "catch the hot potato".
First stealing another coins name
Second legal trademark problems paycoin logo, 3 times over
Now this conflict with paybase:
with http://imgur.com/a/C5pnE
http://www.bottomline.com/collateral/payments/PayBase_MICR_checks_ACHpayments.pdf
It just gets better and better.... I'm glad Bitcoin doesn't have a CEO to sue.
Second legal trademark problems paycoin logo, 3 times over
Now this conflict with paybase:
with http://imgur.com/a/C5pnE
http://www.bottomline.com/collateral/payments/PayBase_MICR_checks_ACHpayments.pdf
It just gets better and better.... I'm glad Bitcoin doesn't have a CEO to sue.
honestly- when the market hit like 3.50 something I was sooooooooooo tempted to buy a shit load of XPY because I know it's going to bounce at least 30% or something like that, and then I thought: No.
Of course, I still wish I hadstolen earned that 30% of the chaos that is that crapstorm, but the truth of the matter is it's totally gambling. The project is doomed if only because what GAW has done (promising the $20 floor) is simply illegal, and then was illegal when they didn't follow through with it anyway. As I have absolutely no way of knowing when the hand of the law will make it's appearance (and it WILL make it's appearance) I thought it better to just avoid it all together.
The con artists and vultures are out in numbers though. So for those who have already been conned- don't lose the skin off your back as well.
Of course, I still wish I had
The con artists and vultures are out in numbers though. So for those who have already been conned- don't lose the skin off your back as well.
Paycoin has been rallying for over 24 hours.
This means the market is confident about the honesty of the project and the company behind it.
This means the market is confident about the honesty of the project and the company behind it.
Another deleted thread --
https://hashtalk.org/topic/16399/some-thoughts-on-merchant-adoption.
Archive-
https://hashtalk.org/topic/16399/some-thoughts-on-merchant-adoption.
Archive-
There is this guy as well from the "early days"
https://archive.today/FtTtO
And this:
https://archive.today/vW615
https://archive.today/FtTtO
Quote
1.At this moment only Primes can mine Hashpoints but coming week the ZenHashlet will be added, so buy more Hashlet’s 
2.On DAY 2 of Hashers United Josh Garza told us thats he is working on a partnership with AMAZON and WALMART and TARGET an specifics can’t be shared right now
3.Al the companies Gaw Miners is working with will start using the Hash Coin.
4.This new coin will be supported buy a credit card system, available on all major exchanges and accepted buy the biggest retailer in the world !
5.In total there will be 250 million Hash coins !
6.Within +/- 2 weeks you can trade Hash coin to BTC.
2.On DAY 2 of Hashers United Josh Garza told us thats he is working on a partnership with AMAZON and WALMART and TARGET an specifics can’t be shared right now
3.Al the companies Gaw Miners is working with will start using the Hash Coin.
4.This new coin will be supported buy a credit card system, available on all major exchanges and accepted buy the biggest retailer in the world !
5.In total there will be 250 million Hash coins !
6.Within +/- 2 weeks you can trade Hash coin to BTC.
And this:
https://archive.today/vW615
GAW is continuing to cover its tracks and purge all incriminating history. A race is underway to save the evidence.
https://hashtalk.org/topic/15914
First few posts - removed.
Copies here:
http://webcache.googleusercontent.com/search?q=cache:t9EqP9qLmHUJ:https://hashtalk.org/topic/15914/paycoin-ico-customer-round-q-a-from-oct-1st-2014-and-conference-video-from-nov-4-2014+&cd=4&hl=en&ct=clnk&gl=us
https://archive.today/pJE0n
https://archive.today/oNIkd
https://hashtalk.org/topic/15914
First few posts - removed.
Copies here:
http://webcache.googleusercontent.com/search?q=cache:t9EqP9qLmHUJ:https://hashtalk.org/topic/15914/paycoin-ico-customer-round-q-a-from-oct-1st-2014-and-conference-video-from-nov-4-2014+&cd=4&hl=en&ct=clnk&gl=us
https://archive.today/pJE0n
https://archive.today/oNIkd
Lulz at the idiots
Ha ha ha ha ha ha ha ha
Ha ha ha ha ha ha ha ha ha
Stop licking Josh's nutsack all of you sheeple.
Ha ha ha ha ha ha ha ha
Ha ha ha ha ha ha ha ha ha
Stop licking Josh's nutsack all of you sheeple.
No Premine?
https://twitter.com/gawceo/status/532173907718332417
100k Merchants? Misleading at minimum.
https://archive.today/davJT
https://twitter.com/gawceo/status/534507400037142528
Here's a proof of work analysis courtesy of jyap that shows 97.22% were premined.
https://gist.github.com/jyap808/3f99de084df18ce325a7
https://archive.today/9iALthttps://gist.github.com/jyap808/3f99de084df18ce325a7
https://twitter.com/gawceo/status/532173907718332417
100k Merchants? Misleading at minimum.
https://archive.today/davJT
https://twitter.com/gawceo/status/534507400037142528
Like Viz said it's all in the code:
Don't forget to read their source code:
This gives special slots that are only redeemable with private keys that GAW holds. Note the highest POS is 350%
Make sure to Check their Coin Cap:
2 Billion Max Coins - 350% of 12,500,000 is 43,750,000 XPY produced a year from the massive pre-mine and their "Prime Nodes".
The facts are here, but are we willing to see?
Viz.
Code:
int64 GetProofOfStakeReward(int64 nCoinAge, int primeNodeRate)
{
int64 nSubsidy = 0;
int64 nRewardCoinYear = 0; // creation amount per coin-year
if (primeNodeRate == 0)
nRewardCoinYear = 5 * CENT;
else if (primeNodeRate == 10)
nRewardCoinYear = 10 * CENT;
else if (primeNodeRate == 20)
nRewardCoinYear = 20 * CENT;
else if (primeNodeRate == 100)
nRewardCoinYear = 100 * CENT;
else if (primeNodeRate == 350)
nRewardCoinYear = 350 * CENT;
nSubsidy = nCoinAge * nRewardCoinYear * 33 / (365 * 33 + 8);
if (fDebug && GetBoolArg("-printcreation"))
printf("GetProofOfStakeReward(): primeNodeRate=%d create=%s nCoinAge=%"PRI64d"\n", primeNodeRate, FormatMoney(nSubsidy).c_str(), nCoinAge);
return nSubsidy;
}
This gives special slots that are only redeemable with private keys that GAW holds. Note the highest POS is 350%
Make sure to Check their Coin Cap:
Code:
static const int64 MAX_MONEY = 2000000000 * COIN;
2 Billion Max Coins - 350% of 12,500,000 is 43,750,000 XPY produced a year from the massive pre-mine and their "Prime Nodes".
The facts are here, but are we willing to see?
Viz.
Well Said:
A Few items to consider for the believers.
At ~3000% compound interest per year for the prime controllers and the other stake rates this makes paycoin2 a hyper-inflationary currency.
Research into what happens with hyper inflationary currencies with all the historical examples.
Additionally, research into what happened to the liberty dollar, DGC, liberty reserve, egold, ect...as historical test cases with centralized currencies controlled by for profit companies.
Their is an army or lawyers, litigants, and regulators salivating to pillage Paycoin2 right now.
At ~3000% compound interest per year for the prime controllers and the other stake rates this makes paycoin2 a hyper-inflationary currency.
Research into what happens with hyper inflationary currencies with all the historical examples.
Additionally, research into what happened to the liberty dollar, DGC, liberty reserve, egold, ect...as historical test cases with centralized currencies controlled by for profit companies.
Their is an army or lawyers, litigants, and regulators salivating to pillage Paycoin2 right now.
Gaw does not accept paycoin at their own business. Shows how much faith they have in their own coin.
If anything; he is dumping paycoin for btc. This has been suspect since xpy hit exchanges.
He could not have been so naive to think the coin would succeed after the accusations of fraud and scam resulting from his broken promises and non-deliveries.
If anything; he is dumping paycoin for btc. This has been suspect since xpy hit exchanges.
He could not have been so naive to think the coin would succeed after the accusations of fraud and scam resulting from his broken promises and non-deliveries.
It seems like Josh is dumping his bitcoins and accumulating XPY.
XPY replacing BTC very soon
He is clearing not dumping his BTC for XPY otherwise XPY would be trading over 20 now.XPY replacing BTC very soon
Rumor has it he is dumping his BTC for fiat out of spite, but he doesn't have enough to make much a difference in the market cap regardless.
Lets try and focus on the facts though in this thread like we have been gathering.
It seems like Josh is dumping his bitcoins and accumulating XPY.
XPY replacing BTC very soon
XPY replacing BTC very soon
No Premine?
https://twitter.com/gawceo/status/532173907718332417
100k Merchants? Misleading at minimum.
https://archive.today/davJT
https://twitter.com/gawceo/status/534507400037142528
Here's a proof of work analysis courtesy of jyap that shows 97.22% were premined.
https://gist.github.com/jyap808/3f99de084df18ce325a7
https://archive.today/9iALthttps://gist.github.com/jyap808/3f99de084df18ce325a7
https://twitter.com/gawceo/status/532173907718332417
100k Merchants? Misleading at minimum.
https://archive.today/davJT
https://twitter.com/gawceo/status/534507400037142528
A Few items to consider for the believers.
At ~3000% compound interest per year for the prime controllers and the other stake rates this makes paycoin2 a hyper-inflationary currency.
Research into what happens with hyper inflationary currencies with all the historical examples.
Additionally, research into what happened to the liberty dollar, DGC, liberty reserve, egold, ect...as historical test cases with centralized currencies controlled by for profit companies.
Their is an army or lawyers, litigants, and regulators salivating to pillage Paycoin2 right now.
At ~3000% compound interest per year for the prime controllers and the other stake rates this makes paycoin2 a hyper-inflationary currency.
Research into what happens with hyper inflationary currencies with all the historical examples.
Additionally, research into what happened to the liberty dollar, DGC, liberty reserve, egold, ect...as historical test cases with centralized currencies controlled by for profit companies.
Their is an army or lawyers, litigants, and regulators salivating to pillage Paycoin2 right now.
It's the trolls guise they're the only things preventing us from succeeding. Not the alleged shady business practices, alleged legal threats, the no floor events, it's just all the troll's faults guise.
yeah makes sense
Perfect
Going through the reddit I have to feel genuinely sorry for people who seems to have, without reason, lost so much money on this. Despite it being an obvious scam if not outright illegal (a company publicly declares to manipulate a commodity market?!?!) the desperation of some people really hurts to hear.
Link?
Can't say I have much sympathy for them, its always advisable to look into everything properly before investing.
https://www.cryptocoinsnews.com/paycoin-delisted-shapeshift-io/
PayCoin Delisted from ShapeShift.io amid Fraud Concerns
Its over.
PayCoin Delisted from ShapeShift.io amid Fraud Concerns
Its over.
Unfortunately, there are still believers (take a look at hashtalk) to to suck every last drop of BTC and fiat out of and Josh is showing a commitment to carry on with his plans to bleed them all dry.
The CTO reminds me of Mark Karpeles :
http://www.pcworld.com/article/2846252/despite-mt-gox-fiasco-karpeles-still-has-bitcoin-plans.html
Comments he stated all while wearing a shirt that said :
“I don’t always test my code,” it reads, “but when I do, I do it in production.”
Paycoin still has a market cap of 41 million and they are running test code in the live environment. Really? In what universe is this behavior remotely acceptable?
http://www.pcworld.com/article/2846252/despite-mt-gox-fiasco-karpeles-still-has-bitcoin-plans.html
Comments he stated all while wearing a shirt that said :
“I don’t always test my code,” it reads, “but when I do, I do it in production.”
Paycoin still has a market cap of 41 million and they are running test code in the live environment. Really? In what universe is this behavior remotely acceptable?
https://hashtalk.org/topic/27761/what-and-why-is-this-address-so-important/15
Someone discovered an unlisted address not identified as a prime controller in the source code but staking at the hyper-inflationary rate of 350%:
https://chainz.cryptoid.info/xpy/address.dws?119166.htm
The CTO indicates this is just for testing in the live environment:
Aren't they aware that tests need to be done in a test environment with a testnet? I am not sure why he hasn't been fired being that testing anything in the live environment running financial software is the opposite of development best practices procedures.
I think this is the 2015 scam.
In 2014 we had MtGox and ScareCoin/ShareExchange but this looks to me the biggest CryptoCurrency scam ever.
Sorry for the "investors" but that is all in the game.
The PayCoin ship is sinking so leave the ship soon and quick!
In 2014 we had MtGox and ScareCoin/ShareExchange but this looks to me the biggest CryptoCurrency scam ever.
Sorry for the "investors" but that is all in the game.
The PayCoin ship is sinking so leave the ship soon and quick!
Look at the bright side pal, these scams help cleaning the field from too many noobs.
Whatever takes money out of idiot's wallets is not so bad after all.
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