Let's get this straight.
Satoshi works on bitcoin code since sometime in 2007 and releases bitcoin live in early 2009. It takes a to mid 2010 for coins to be worth more than electricity cost to generate them. Almost 6 years into bitcoin, bitcoin has a market cap of $5 billion. The bitcoin code is validated and updated by a decentralized community.
Josh / GAW creates a 'Hashcoin' in the last few months, it solves no major problem but to generate 'value' for the people creating hashcoins. The code is unknown. The whitepaper is being changed almost daily. Hashcoin is suppose to go live in a few weeks with 'major companies' accepting it and giving Hashcoin a market cap of a few hundred million to few billion.
*EDIT*"Hashcoin will be starting with $250,000,000 USD marketcap + $100mm in reserves"
https://twitter.com/gawceo/status/534235438337118208But where did he come up with that number? He has no explanation as to how he come up with any of those numbers other than what he pulled out of his ass.
12.5 million total POW coins at $20 each = $250 million.
Don't ask me why $20, but that's what they promised to all bagholders.
Now the $100 million "in reserves" shouldn't have that plus sign in front of it. It's supposed to be part of the 250, not in addition to it, as far as I can understand.
Same thing with Hashpoints - he keeps repeating how Hashpoints are part of the $100 or $110 million "investment", while it's actually the opposite - this is debt with a staggering 400% interest rate, incurred by not paying out BTC to hashlet owners but instead giving them HPs.
Gotta love creative accounting.