Re: GAW / Josh Garza discussion. Paycoin XPY CoinStand Mineral. ALWAYS MAKE MONEY :)
I sell shit occasionally...
Good for you
I don't have a problem with a free market. Actually I don't have a problem with XPY either, it can go to 1 satoshi or to the moon for all I care. However there is a lot of shilling for it recently based almost entirely on the fact that some good guys are working on it therefore it will increase in value. I find that dishonest considering how the coin originated ($20 problem) and these people should know better. Which brings us to xpy.io - hashstakers by another name.
The basic xpy.io IS intended to tie up coins. They've said that publicly that there are a bunch of stakers(?) that will be setting a bunch of coin loose in June and they needed somewhere besides the markets for those coins to go. So, they're letting people put their coin into the prime controllers and get the 100% stake rate. NOW, if you're into XPY, that sounds like a viable option. And it's no different than a bank CD type of idea as far as I can tell. I don't think there is any fee at all to put coins in the basic xpy.io service. I guess you just sign up and transfer them in.
Except it's only 25% or 50% or whatever it is now. And even that is not guaranteed because there might be a fork reducing the stake rate. But the coins are locked up for 90 days regardless. See a little issue here? That's actually worse than Hashstakers and that's saying something.
NOW, the xpy.io hedgers do have fees... again, to me the fees are too high on them and I don't see XPY going up enough to make them profitable, so not my thing. But, from a coin perspective it looks like an interesting product and I would bet you'll see other coins trying something similar because it brings more BTC into the coin.
You're not getting it. The fee is larger than the staker will return. Or it's explained really poorly - impossible to say because there is only like one vague sentence about it on the site. So why would anyone do that? Just go to Cryptsy, buy coins and HODL.
I don't know that there are any written terms on their site, I'm going off of conversations in the hangouts. If there aren't any terms, I agree those should be spelled out clearly on the website. I think I've been to xpy.io maybe once? maybe twice? I'm sorry, but I have no interest in buying their products, so not going to try to find a link on the site.
Well you should visit the site otherwise it's a very one-sided discussion. You're saying the site is a good thing based on hangouts? Come on. That's textbook shilling, I'm sorry to say.
And, as far as "expert in finance or economics or cryptography or software development."... really, very few alt-coins have those elements... opal is being run by a kid that sounds like he's a 13yo. If there are people out there that want to spend their money or their BTC on alt-coins run by strangers on the internet, that's their option. Go to one of those gofundme type sites, they're full of unqualified people selling pipe dreams. This is the internet as a whole. It's well known that XPY is a peercoin clone now... so... if you want to use that as a basis, then we need to start screaming about 90%+ of the alt coins out there. Or we could use the huge pre-mine... but that's ? 95%+ of the coins out there?
That's not my point. I'm skeptical about the idea that being a bagholder qualifies as a savior of a coin because they want to recover some value or what not. Greed is a bad motivator, haven't we learned that. In other words, the "good guys" need to be judged by their actions and results of those actions, not by hangouts, promises, etc. Perfect example just above - they will tell you how awesome xpy.io is but in reality it's not.
And I don't think there are many coins with 97% premine but that's irrelevant really. If you want to say that XPY is just like any other shitcoin I won't disagree.