Post
Topic
Board Service Discussion
Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
by
Paul Revere
on 19/04/2015, 21:09:17 UTC
Straight From the Donkey's Mouth

https://www.youtube.com/watch?v=-rmkSagiwss


What's striking is how low these salaries are across the board. Especially with the other numbers we've seen. Unless there's some massive crypto payments going on or some large bonuses (either of which might be true for Capuano or Mordica), this is really just a vehicle to make Josh rich.

There was one email a while back that articulated BTC payments to a few of the principals. Anyone have that? It might give us a window into total compensation.

That was one of the interviews I was thinking of where he talks about paying vendors and employees with Bitcoin.
Josh (click to go to time of this text): " We process about $30-40,000 worth of Bitcoin transactions a day, coming through our company, and every single one of those we keep as Bitcoins. Never sold a single Bitcoin in our company, and we use those Bitcoins to pay our vendors as well as our employees. About half our employees are paid in Bitcoin, and we would like to see that number grow, there's a lot of reasons that's an advantage for our company. In the case of vendors that may not accept Bitcoin. when we first started doing business with them,because we have kind of a scale, and we can entice them, because they want to do business with us. a lot of times we can get them to accept Bitcoin".

What a total crock of bullshit. At that time GAW was clearly BUYING Bitcoins to make Hashlet payouts, and Payroll and Vendors were paid with fiat. Even a month later when they decided to get at least SOME hardware from Bitmain (Bitmain prefers Bitcoin) - they paid for in USD- because Hashlets were a Ponzi that took in USD, NOT Bitcoin. The only tiny tidbit of truth in that whole interview was probably where Homero says "GAW has never sold a single Bitcoin". DUH- You had to fucking BUY them to make Hashlet payouts..... Later, after the Paycoin>Bitcoin dumpage started, he was doing the opposite, and dumping huge amounts of Bitcoin on Buttercoin to get USD, because that is what GAW operated on.