Quote from: MOB on November 24, 2014, 04:23:54 PM

Quote from: suchmoon on November 24, 2014, 04:01:36 PM

Here is some math to illustrate just how bizarre this thing is and also why nobody seems to mind the deadlines being pushed out.

You can buy a ZenHashlet on the Market for less than 13 USD at the moment. It "mines" 19 hashpoints per day. End of round 2, i.e. when hashpoints become PayCoin is 13 days away. So by that time your Zen will have mined:

Code:

19 * 13 = 247 hashpoints

Conversion rate is promised to be 400 hashpoints for 1 PayCoin, and 1 PayCoin for 20 USD. In 13 days your Zen will have mined:

Code:

247 / 400 * 20 = 12.35 USD

Nearly 100% ROI in 13 days and you still have the Zen, which you can sell in the Market or keep mining ZenPool. Now imagine if GAW "by popular demand" extends hashpoint mining for another two weeks - this will DOUBLE the profits. Who wouldn't want that?

Any questions? Roll Eyes

You are right Suchmoon--obviously GAW could never cover all of the "paycoins" being supposedly mined. My prediction could thus never be met. GAW will never release a coin that stays at $20 in a free market.

The question becomes, is there any hope in hell of GAW being able to devote enough money to meet the sustained selling if this coin ever launches?

Its too bad that Josh refuses access to any statistics regarding precise size of Zenpool or Hashpool, but I guess that is understandable as otherwise people could ask some very inconvenient questions.

Also, if Josh was telling us the truth about how many customers they have and their average buy-ins, then we can take that:

Code:

225,000 customers * 38MH ($500, the minimum amount a customer spends on "average" at GAW/week divided by Zenhashlet) * 30 days * 19HP/day = 4,873,500,000 HP.

Convert to PayCoins @ 592,800,000/400 = 12,183,750 PayCoins * $20/coin = $243,675,000 valuation on day one.

Now imagine if 30% of these people decided, that after a month of no income, they want to get ROI? That would be an $80 million bite taken out of Josh's floor. What if people notice that gigantic action and ~~panic~~ make the smart move to sell everything?

What is the size of Josh's floor? Is is $33 million, or did he raise it up to $100 million?

Better hope that "venture capitalists" don't get to the market first since their $2/coin buy-in will allow them to sell this sucker into unprofitable mining territory.

MOB - I think part of solution to a massive sell off is having this go POS... Also, the orion/prime controllers require the paycoin to stay in your wallet... So - I think a lot off the big players of paycoin, at least from the GAW mining scene, will be holding their coins.

This would be true with the large investors as well... From my understanding the real money to be made is in the controllers - which require the stake in paycoin to stay in the wallet.

Dunno if that will work and no one knows how much a prime controller will cost atm... So should be interesting to see how this pans out.