Do you even understand what you're saying? There's a demand for paedophilia and child pornography. Are you going to provide the service to those people too?

If you still don't get it, Ponzi schemes are both illegal and despicable.

Possibly very pertinent. Anyone else noticed that the staking rate has drastically lowered in the last few days?

Relevant and hilarious video from the Bitcoin subreddit:
https://www.youtube.com/watch?v=cIasr2AiyZ0

Oh god... this has become like the troll box on btc-e. It's quite disturbing how one person can hijack the thread like this and ignore any real debate.

They stake roughly every 6 hours (i.e. 4 times a day). What I don't understand is how the XPY holders are completely fine with their investments being diluted so much.

Still on track to double every ~70 days: https://chainz.cryptoid.info/xpy/address.dws?119166.htm
3000%+ inflation rate

Bet cashes out in 3 hours!
https://www.betmoose.com/bet/gaw-miners-paycoin-is-a-flop-1020

I wonder if I will win... "If the value of Paycoin falls BELOW the public launch price (predicted to be $20), WITHIN 3 months AFTER the public launch, for MORE THAN 24 hours, this bet resolves to 'Yes'."

While they made some terrible investments, the GAW supporter who posted this bet certainly didn't offer much in the way of odds. I only win .01 from a bet of 0.1BTC. Having said that, there wasn't much chance of losing!

Not sure if this has been posted before:

https://www.youtube.com/watch?v=hu98b2zmWC8
Money & Tech coverage of GAW

Hey this image is obviously fake! I can tell because it doesn't have a hundred upvotes and replies saying "GAWsome!"

GAW have an unlimited supply of XPY to dump, because they can stake their millions of XPY at over 3000% interest. If they only stake 2 million XPY, they can add 60 million XPY to the coin supply in just one year. Any XPY you are holding is diluted by a factor of 5 - losing 80% of its value in just one year.

I'm shocked that some people still don't believe that GAW can get 3000%+ interest on their wallets. The evidence is on the blockchain. The blockchain doesn't lie. Here is a graph showing the stake amount on their "350%" wallet. The staking income is clearly rising - compounding interest.

http://i.imgur.com/YKIBaOG.png
https://chainz.cryptoid.info/xpy/address.dws?119166.htm

If GAW really had any interest in building a crypto economy, they would fork the code and drop the 3000%+ down to 5% as was originally planned. What I think they are going to actually do is use the extra coins they get from 3000% staking to dump onto unsuspecting newcomers at whatever price they can get. Then they will claim that their server was hacked and that a theif stole their BTC. As a result they will go bankrupt with no assets to repay their creditors.

Eloquently put. I almost wish this thread was locked so that your post was what everyone saw when they came here.

I'm not much of a contributor on here, I just use these forums to stay up to date. I clicked the first link on the first messageboard and it was about using changetip on facebook to get more people interested in crypto. That seems quite positive and upbeat to me.
https://bitcointalk.org/index.php?topic=928854.0

If you are only reading this thread, then yes you're only going to read about how a greedy company is stealing money from unsuspecting newcomers to this industry. It would be morally wrong to spin this to something positive because those unsuspecting newcomers will lose more of their shirt to GAW. Confirmation bias works, even when you know it's happening.

If you assume GAW don't want to give up their BTC, then they will always flood the buyback with their own XPY. I imagine the first week of April will have GAW customers posting how they put 1,000 paycoins into escrow but only received buyback on a fraction of a coin. Then we'll see another wave of bans and shadow bans for pointing this stuff out.

Still no-one on hashtalk concerned with 3000%+ annual staking rate potential with the revolutionary Prime Controllers. I can't get my head around how the GAW followers maintain their confidence.

Wallet still staking at 3000%+
https://chainz.cryptoid.info/xpy/address.dws?119166.htm

The only people holding XPY now are the GAW faithful so I expect the volume to be low and price to be stable for a little while. None of them want to sell at this price as they are hoping the price will rise in the future.

Merchant integration generally implies a conversion from XPY->Fiat, except in the unlikely scenario where the merchant is happy to hold XPY. Without any market depth, any merchant sales will crash the market. Because of this GAW are forced to delay any plans for merchant integration. Their customer base simply has no money left to put up buy walls.

What would you do in GAW's position now? They have the option of burning their own money to put up buy walls. I have a feeling they don't want to be parted from their money, so I'm not expecting that to happen. At most they may cripple the debit card with horrendous buying limits, giving the illusion of a working ecosystem.

My prediction is that merchant integration will be postponed. If anything worth buying becomes available for XPY, we'll see the market crash to a price that means people are reluctant to spend.

Ok unless I've made a mistake somewhere, the annual stake rate is coming out as 3290% on their 'test' wallet:
https://chainz.cryptoid.info/xpy/address.dws?119166.htm

http://i.imgur.com/EBlSBaa.png

I've been a mainly silent observer to this ongoing drama, but I cracked and couldn't help posting in hashtalk over some incredible oversights. How come no-one is going crazy over the prime stake rate that is currently hardcoded to GAW addresses? People have been saying that it's 350%, which would be insane... but if I read the code correctly it's actually just under 1% compounded daily, which equates to over 3,000% annually. How can any coin survive hyper inflation like that?

6 million XPY in Prime nodes becomes ~ 180 million XPY after Year 1.
5,400 million XPY after Year 2
162,000 million XPY after Year 3
etc...

If the coin was actually worth $20, the market cap would overtake the total amount of USD in circulation halfway through Year 3! In Year 4 Paycoin would be worth more than all the other money that exists on the planet.