Topic: Paycoin (XPY) is scam - page 6. (Read 79518 times)

"We are not associated with these companies beyond personal & private holdings of Hashstakers, Zen Hashlets and XPY Paycoin, and are not paid by these companies."

I stopped reading there. They have a vested interest in not losing the money they've plugged into the various projects, so it is impossible to take what they say as untainted and unbiased.

https://hashtalk.org/topic/34941/a-must-read

Thank you

Try this. At your own risk. If you get infected or have all your coins stolen - not my fault.

https://hashtalk.org/topic/34858

I have problem wit block 8045,wallet is stuck.I have reinstall wallet,fresh install,delete wallet,delete all folder,delete blk0001.dat....Any help?

According to Mr.Garza, you and the entire interwebs hallucinated that.



http://www.coindesk.com/gaw-miners-paycoin-disappearing-20-floor/

The easiest way to spot a potential scam is when people qualify their loyalty based on the amount of money they have made from it. This is how a Ponzi gains acceptance- I made a lot of money so they must be legit its exactly how a Ponzi works to win minds.

As iBwT put it, market price is irrelevant at this stage of crypto development.
Because of low trade volumes (when compared to 'real' markets, like oil ), anyone with a small handful of cash can manipulate the market price of most crypto-currencies.
PayCoin traded $94,000 USD in the last 24.....assuming that no-one else buys in, one investor would only have to pump a hundred grand into XPY to maintain (or slightly raise) its current $8 million market cap.

But: because other people do buy in when they see a price rise, any money going into the pump can be pulled back by sales of that $8 million market cap to credulous investors.
Obviously, no-one can afford to run this sort of manipulation for a long time, which is why we see fast rises followed by slow drops in the price: a pumped spike every few days followed by another slow sell off.
It's a margin-based game: if your $100,000 pump in to a coin gives you enough time to sell off $110,000 worth of your coin stocks...you're having a good day.

Last point on PayCoin price: one of the main selling points of PayCoin was the guarantee from JG/GAW/etc that Paycoin would trade at a minimum of $20 shortly after launch, and that JG+whoever would support that by placing a buy wall at $20.  Or did I hallucinate that bit ?
Compared to $20, $0.55 looks kind of crappy, and there seem to be some XPY investors who are unhappy about this.

the bandwagon finally about to get goxxed by scamza? lol

http://siliconangle.com/blog/2015/03/23/bitcoin-to-altcoin-provider-paybase-stops-withdrawals-accused-of-going-full-blown-mt-gox/

Non Sequitur. Market price has no relevance as an indication if something is a scam or not. This is especially true for insta-mined coined where most of it is held by the creator and locked up with various schemes(hashstakers) and "technical problems".

Any dev can create a shitcoin that has a higher market cap or valuation than bitcoin if they manipulate and control the volume.

Go ahead and trade away if you are credulous though:

https://www.youtube.com/watch?v=3gfntBEI3Aw

You should have the right to make foolish investments as we have a right to warn people of potential scams.

Is this a pathetic attempt to troll or are you just trying to pump the price because you are daytrading XPY despite thinking it is a scam?

So why does 1 XPY still = 0.002 BTC?! That is a mighty high valuation for a shitcoiN!

Look at it this way:
Based on a massive amount of evidence, (ie everything that has ever happened with it)  PayCoin is either a huge scam, or an equally massive fuck-up.
Either way, it doesn't look like a good project to put any of your cash, BTC, or faith into.

what price did you buy in?

I bought XPY because thinking has a great future, but it ended up a scam, I really regret having bought

Digital Currency Platform PayBase Accused of Absconding with Customers’ Money

http://motherboard.vice.com/read/digital-currency-platform-paybase-accused-of-taking-off-with-customers-money

My bet: Josh eventually "fixes" the problem but another "technical glitch" limits the hashstakers maturing and many balances need to manually be repaired over time.

Oh, it most definitely is.

I don't entirely disagree... but it is good they are warning people.

The whole article was poorly researched. Nothing new in there, they just felt like they needed to get something out because of the reddit thread yesterday. The twitter link is talking about deposits not withdrawals, the price is wrong, etc.

I could have written a better and more accurate article than that.

Not impressed with CCN. Too little, too late and all that, and they can't even get it right.

Sure, he made a mistake about the price, this doesn't invalidate the other concerns raised.