Quote from: Josef_Stylin on February 17, 2015, 03:10:58 AM

Quote from: Phildo on February 17, 2015, 02:48:13 AM

Quote from: vObh0n]6W on February 16, 2015, 09:24:13 PM

Quote from: Paul Revere on February 16, 2015, 08:14:19 PM

What are these people basing this on?

Math, Common Sense, and History say that a merchant will dump crypto as soon as they get it. Even a small (~$5,000/day) merchant would drive the price of XPY down an extra decimal place or two every day. There has to be liquidity (Buy Bid) depth enough to absorb a merchant or it simply does not work. XPY is no where near being able to support real merchants. "Somebody" told these idiots that merchants accepting XPY will instantly drive the price up and they never stopped to think about the way it actually works.

I believe that was if they are accepting it for above market value.

Like, if you grant that a large merchant with millions of items will start accepting xpy at a $20 valuation, then I could see how that would make the price go up.

The problem is that no proof of such merchant has materialized.

It just doesn't make sense for a merchant to do that. In real life if I give a merchant $20 for a widget, he puts some money in his pocket, and buys another widget (or something else to sell for me). If I give a merchant a paycoin for a widget, what is he going to do next? That paycoin is not enough to buy another widget (or anything really). No one has ever explained what the people (merchants, gaw, honors program, whatever) that pay $20 or give away $20 worth of product for 1 xpy were going to do with that xpy after they got it. There is no way to believe the $20 number (or any number really) without that explanation.

No offense to anyone... but GAW customers are, generally speaking, noobs. Basic concepts such as "lets find a merchant to legitimize us!" seem wonderful in theory because they think anyone even slightly acknowledging their investment will suppress the negativity. The actuality is that they don't truly understand what the hell they are doing, or what this "investment" even is.

Anyone with a brain knows that a coin with minimal support has absolutely zero chance of withstanding a large merchant with millions of products dumping the coin to fiat, which it would absolutely have to do to stay afloat. There is no chance a merchant "holds" the coins. The money for the products being sold needs to come from somewhere. Either these people just don't have a basic understanding of how a merchant functions in terms of buying the actual products that they sell or they understand it and just want some other moron to be stuck "holding". Either way, we can all agree that no merchant in a million years would "hold" a volatile coin and they are instantly dumping the coin to btc->usd to pay their bills. If that user base thinks they're seeing "dumps" now, just wait until a merchant has to unload all day.

The stupidity is astounding, even from Mr. Ganza supporting this idea. They need to find people that want to BUY their coin, not fucking dump it instantly.

lol i will admit and i have said it before i myself bought several miners cloud miners and a few physical from gaw and i will admit i liked them as well in the past. I know they raped me i didnt even get a chance to atleast spit on the shaft so wouldnt hurt so bad, happen so fast. I do say you are correct when there is hardcore gaw fans who will still try to put more into it if they could.