Quote from: inBitweTrust on March 04, 2015, 11:23:46 AM

Quote from: gawneedstobestopped on March 04, 2015, 06:10:23 AM

Oh then there's this gem....

Turns out Josh knew Paycoin was doomed as early as December 19th. This CRYPTOGRAPHICALLY SIGNED email will tell the truth.

http://pastebin.com/VvNwBHZ7 (DKIM Signed)

Quote

Subject: I had a dream

and I just woke up thinking about it. And it's not a good one.

Our entire paybase and xpy model is flawed. It has been to begin with. The crazy thing, no a single person or just has ever brought it up.

Here is why. Let's separate things in to two buckets

The first is people that buy xpy directly from Paybase at the full price of $20. We would need to escrow every penny of that right? Because that person would want liquidity for every penny because they paid full price. Right? Makes sense. Only that means we never can use that money.

Now that not the issue. The issue is way worse then that. As the above only means we would have to make money some other way. No, the issue comes next.

Let's assume the the following it true. For the next year, for whatever the reasons are, the price of xpy only goes up to 18 on the open market. Maybe it will go higher, but let's agree that it's out of our control and that's the case.

So this would then mean, a person would be able to game us forever. They could go to the market, buy for 18 and come sell to us for 20 over and over and over again. Outside the limits we out in place, there is nothing we can do to stop that.

This then also means we would constantly loose money from this. Now here is the scary part, combine the first thing i said. If we are escrowing all the new xpy they buy from us, where does the new money come from to cover that spread?

Now, multiply that by 10 million, and forever. Coming together now? The entire model is flawed.

This is a big deal.

I am working on trying to figure out anyway around this. But the issue is the entire model is built around these concepts. I just can not believe I never thought of this before. There is no way this will work

I will have amber call a meeting so we can talk about what options we have.

So it seems that he KNEW he was going to fumble this, but ran with it anyway... Premeditation?

Quote from: gawneedstobestopped on March 04, 2015, 05:26:00 AM

http://pastebin.com/zWm4LL9V

http://pastebin.com/ZM6fNZ6D

http://pastebin.com/ALC4E9iJ (DKIM signed)

http://pastebin.com/s3Nx2a2G

http://pastebin.com/3FpDWdrk (DKIM Signed correspondence between Josh and Carlos saying the same things that Rishab is now denying? Those 'hackers' sure were dedicated)

http://pastebin.com/H5JQTRST (Here josh tells Rishab the coin will be worth $100)

So why do you think Rishab is "now denying"?