Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
If you bought and held PayCoin at any time before this moment, you have lost money. Only traders have made money playing the market and Josh dumping all his compounding premined Coins.
There's also the weird blip in all of this of the hashpoint conversion. If you have Paycoins from the hashpoint conversion, they're still worth more than if you had "mined" BTC instead of getting hashpoints. I think Paycoins would have to dip below 50 cents for the hashpoint "mining" to have not been worth it.
That's still the one part of this that gives me a bit of pause. That hashpoint conversion cost him money, as it released Paycoins into the market depressing the price, and it gave tons of people a way to break even, or even make some profit, at his expense. It's the one thing that makes me think that all of this fraud wasn't really meant to be a scam. That he really thought these lies would lead to everyone making money.
Or it could have been a confidence trick. IDK. It still stands out, though.
I kinda think it wasn't even supposed to be a scam in the first place but to make it really worthwhile to the people running it but negating the fact that it all depends on constant buying so it naturally goes against the market and that it seems like no one likes working with Josh and he owns all the hashstakers. I am reading that everyone but Josh and one other guy are still running the Coin and Josh is nowhere to be found. This whole situation seems weird to me because there is so much interest in Cryptocurrencies as whole that you wouldn't even have to scam people, just work hard and eventually you'll get there. And what's this about Josh Garza not even being his real name? Who is Carlos Ganza? I made you guys a little summery for your thread and hope you like it.
If it wan't a scam from day 1 it was scam very early on. The "amps" and "boosts" are impossible. The first second they sold hashpower they didn't have or gave out coins that they didn't mine they were scamming. It doesn't matter how many tricks they pulled or opportunities for "profit" that developed throughout the course of this shitshow. They sold miners, they never showed they were mining, they were scamming.