https://hashtalk.org/topic/28881/response-to-charlie-richards-of-cointelegraph

Obviously not written by Josh. Looks like someone is employing self taught lawyers at GAW. :-)

That is the $4 question.

Exchange paycoin for fiat!

923.4 XPY gets you one rusty old exhaust for a fiat Punto.

Oh, sorry. You can also buy exclusive USB keys for $99 pre loaded with a Hashlet (cost 5 paycoins). Or a hat.

I hope rOOtdude has fucked off for good. Most of those mods like to say goodbye and then reappear a few hours later!

I think we can see what is coming. The language around the $20 is changing "used as..." etc.

The paycon will have a $20 value, within the Gaw store. So you can stock up on HashShakers and Hashlets come friday people........

I wonder if Gaw are taking advantage of the high hash rental prices :-)

Oohh the generosity!! As long as Paycoin stays above $15 for the next six months people will be happy! If not.......

From KC6TTR

A. Go here: http://trademarks.breanlaw.com/86444905-paycoin.html

B. Note the Classification(s) section:
042-Scientific and technological services and research and design relating thereto: industrial analysis and research services; design and development of computer hardware and software; legal services.
First use anywhere: 11/04/2014 <<<<<<<<<<<<<<<<<<<<<
First use in commerce: 11/04/2014  <<<<<<<<<<<<<<<<<<<

Uhmm.......BUZZZZZZZZ... wrong on both accounts regarding the name's first use.

C. File your opposition to this trademark for its unlawful use as the name "PayCoin" is a pre-existing name that has been in use for over a year.


*** REMEMBER ***
This should be done within the first 30 days, which means only 3 business days are left, including today, the 11th.

I think it is pretty clever (in a diabolical kind of way).
Here's my take on it.

Gaw built up a mining business and saw cloud mining as a way to get lots of people buying in with even small investments to start with.

Sell as many hashlets as possible. Create a community (hashtalk) driven and policed only by fervent believers.

Create hype/frenzy around new coin, with an initial value of $20 (Never guaranteed though although you might think it is looking at the posts).

Ensure most people mine HP for as long as possible (no cost associated with that, just issuing tokens).

Create confusion in upgrade process to stimulate hashmarket (10% of sales -> Gaw).

Extend HP mining until even die hard fans get tired of it.

Create an upgrade offer that removes the obligations with as many Primes/Hashlets as possible.

Issue free paycoins as incentives to "upgrade" your hashlets. (They are worth $20 each :-)

Extend HP mining a bit more + offer some sweetener to some hashlet owners.

Paycoin market opens, price stabilises around $1 (maybe)

Message - Hey that's the market at work, we never guaranteed anything!

Or I suppose I could be wrong and paycoin blasts to $500 and I feel like a fool
and shops start only accepting paycoins.

Some light reading......

My Competition Never Filed to Trademark Their Name So I Can Steal It, Right?

Keeping with the rule of “first use,” just because your competitor has yet to register its trademark with USPTO doesn’t give you legal grounds to appropriate it for yourself. While you can certainly pay to file an application on the trademark that your competitor uses, your application will be open to opposition at some point – and all your competitor has to do is prove first use of the trademark for your application to be denied.

In fact, this is exactly what happened to DuClaw Brewery when they tried to trademark the term “EUPHORIA”. After getting the trademark approved, they tried to enforce their rights against a competitor who also brewed a beer called Euphoria, only to find that the competitor had used the name first. Consequently, their trademark was cancelled. You can read more about it in the Research, or Lose Your Trademark section of our post on the story.

In general, it is not advisable to pursue any trademarks for which your competitor can invoke the rule of “first use”. In some rare cases, though, it is possible to obtain the trademark rights to your competitors’ intellectual property. Learn more about them in our post Legal Ways People Can Steal Your Intellectual Property.

from http://secureyourtrademark.com/blog/common-misconceptions-trademarking-name/

Hey, don't worry, GAW has amassed a huge FIAT reserve to ensure the price of Paycoin stays stable. Stable at what price is a secret though. There are rumours going around that it will be $20 at least. HaHaHaHa!
I love that all the "ROI Calculations" on Hashtalk take $20 as the absolute floor. Love it.

It's interesting the ban on the $20 questioning guy.

Almost every calculation shown on hashtalk uses $20 as the minimum value for Hashcoin, even in six months time.

If it's value drops below $14 none of the "Stakers" will make anything. It will be a bloodbath.

Considering the sheer volume of Hashpoints being mined there is bound to be a big cashout (especially at Christmas time!).

The $20 expectation cannot afford to be questioned too loudly!

The guy who asked this is now banned

"@Superprime is on a cool down it's not that questions are bad. We need people to speak to whats going on sure, but I really need them to be informed and know what is going on and not just speak as if they are an authority on something when they are not."

wow!

Hello,

I am getting this in my log when running a node

{"level":"error","message":"Payload hash invalid: 12315905898351867984","timestamp":"2014-08-21T22:17:23.521Z"}
{"level":"info","message":"Crypti stopped!","timestamp":"2014-08-21T22:17:23.521Z"}

Any ideas?

Cheers

You it's bad when even the chap with the huge text is silent!

B_ulldozer, just ignore him (the huge text chap). He hasn't made one useful contribution to the thread yet!

I find it slightly more worrying that the dev is online yet saying nothing.

It is hard to tell whether those involved with this coin are simply appalling communicators
or have no further interest in this coin.

Either way, it does not bode well for the coin even if Anon is announced/released.

It's sad  

Hello All,

Who is in the foundation? What are their roles?

Thanks!

Will the exchanges now be able to update their wallets and allow us to move out coins?

I don't understand why they are not doing it?

Anyone know?