PayCoin bumped BitShares out of #4 on Coinmarketcap.com

[Gentso1]

https://coinfire.cf/2015/01/03/shapeshift-io-drops-paycoin-says-high-threshold-of-evidence-as-fraud/

[donkeypong]

It's starting to look like we could do the unthinkable: pass Litecoin by standing pat. Either our client is ready first or Litecoin could 'surpass' us. Apparently, fewer people are mining.

[kisa]

Totgesagte leben laenger   

[chryspano]

BitShares is back at no.4

 

Litecoin seems to have some "problems" too...

[Empirical1.1]

BitShares is back at no.4

[chryspano]

shitcoin PayCoin to the moon!!! Don't miss the train!! Next stop pluto!!

Don't believe in gravity, there is no such thing!!

[Empirical1.1]

Should it not go to $20?
Damn gravity !!!

http://coinmarketcap.com/currencies/paycoin2/#charts

Yes it's good No.4 should be ours again soon.

LTC is weak too, trying to pay $2 million to miners a month in a bear market is simply not sustainable.

[liondani]

Should it not go to $20?
Damn gravity !!!

http://coinmarketcap.com/currencies/paycoin2/#charts

[hotpotato]

I don't think they should be taken this lightly.

They have the the resourceful Gawminers backing them and a huge community hashtalk.org supporting them. Just checkout their IRC #Gawminers , #XPY .Its quite active to say the least.

There is also a lot of hype around the launch of their coinbase competitor , paybase.com/

They are good with their PR.
Their websites , videos are mass appealing and they have already managed to get articles out in major publications.
http:// blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/
https:// cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/
http:// coindesk.com/gocoin-gains-strategic-investment-software-development-push/

They are looking to buy out companies left and right .They have made investments in GOcoin ,have already bought the exchange coin-swap.net and may buy out shapeshift.io soon and many more acquisitions to come according to Josh Garza ,CEO of Gawminers twitter.com/gawceo

They have set out a ambitious plan to become the go to digital currency for the masses and it will be quite interesting to watch how successful they become in implementing it.

Oops My bad!Looks like it's a hyped up centralized scam coin after all.

They have created the coin with the help of some big players to divert attention from their failing cloud mining ponzi.

The number 4 position they are enjoying won't last long as more and more people realize their game.
 

[Empirical1.1]

I don't think they should be taken this lightly.

They have the the resourceful Gawminers backing them and a huge community hashtalk.org supporting them. Just checkout their IRC #Gawminers , #XPY .Its quite active to say the least.

There is also a lot of hype around the launch of their coinbase competitor , paybase.com/

They are good with their PR.
Their websites , videos are mass appealing and they have already managed to get articles out in major publications.
http:// blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/
https:// cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/
http:// coindesk.com/gocoin-gains-strategic-investment-software-development-push/

They are looking to buy out companies left and right .They have made investments in GOcoin ,have already bought the exchange coin-swap.net and may buy out shapeshift.io soon and many more acquisitions to come according to Josh Garza ,CEO of Gawminers twitter.com/gawceo

They have set out a ambitious plan to become the go to digital currency for the masses and it will be quite interesting to watch how successful they become in implementing it.

Yes, being good with PR brings great $$$ rewards.

I don't think their website is that good though, I think MethodX is working on improving ours.

Their video's aren't great either, is this their best one? http://m.youtube.com/watch?v=TFDUDSm7bI0
I can edit something better I think. In fact if I combine an idea MethodX seeded, we would have a similar themed, 'global currency + community' advert

http://m.youtube.com/watch?v=_W8ZekJ4eSk That one of theirs is really bad.

Point taken Empirical, but I don't think the threat lays in the quality of their individual efforts, but in the effectiveness of their coordination.  the whole being larger than the sum of this parts, as it were.  We need to mirror this type of effort at BTS and hopefully we have finally gotten around to getting going.  It is however, unfortunate that we are getting to the point where we have completely squandered out lead out the gate.  Soon we may have no high ground, and we will be fighting the public awareness battle toe to toe with our competitors.

Yeah. I think we are getting going. I think the Chinese side is leading the way and is capable of great things once they overcome BitShares PR problems & if a handful of guys like Method, HPEnvy, Matt were a bit more incentivised, & with more to work with than their 1 100% delegate, I think we'd start to be in the game. POW is definitely weak right now. Bitcoin is paying $1 million a day to miners and hardly any of the retailers that accept BTC hold it, so the more utility it gains and the more purchases that are made the more downward pressure on price almost.

You have a good point, we need to find a way around the budget limitation that comes with the delegate system at this low level of market cap. 

Agree with you that DPOS is currently our big advantage, but it won't be that way forever...

Same as it ever was, development strong, but marketing weak. If we can empower the marketing team & work on PR, we can correct that.

What am I excited about?

- Bitshares is so far ahead of the curve with regards to understanding the potential of and developing DACs  in so many exciting areas.
- On the technical front it seems like Dan is a few moves ahead, anticipating problems other people aren't even thinking about yet and already implementing solutions to solve them.
- Bitshares X,  the value proposition is just so clear vs. the existing status quo, this one DAC & its successors can completely change the face of finance. Woo hoo!!!!!!!!!!!!!!

What am I worried about?

- Social consensus, third parties that haven't been working with Invictus honouring AGS/PTS  - Personally I don't necessarily see that happening.
- Dan heavy, if something happened to Dan, my investment would be worth a lot less. (But I guess that is the case with a lot of companies in the beginning.)   
- Marketing, it's very good (Really liking the evolution of the website)  but it's not incredible yet.
Particularly with regards to advertising, I would like to see more videos and adverts, that I can share with friends. (I know they're coming... slowly )
I also think anticipation with regards to how the market and public will respond to certain product and branding decisions might not at the same gifted level as other areas. When marketing strong talent weak vultures start preying on some DAC's before they become established this could surface as a potential vulnerability.   

[James212]

I don't think they should be taken this lightly.

They have the the resourceful Gawminers backing them and a huge community hashtalk.org supporting them. Just checkout their IRC #Gawminers , #XPY .Its quite active to say the least.

There is also a lot of hype around the launch of their coinbase competitor , paybase.com/

They are good with their PR.
Their websites , videos are mass appealing and they have already managed to get articles out in major publications.
http:// blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/
https:// cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/
http:// coindesk.com/gocoin-gains-strategic-investment-software-development-push/

They are looking to buy out companies left and right .They have made investments in GOcoin ,have already bought the exchange coin-swap.net and may buy out shapeshift.io soon and many more acquisitions to come according to Josh Garza ,CEO of Gawminers twitter.com/gawceo

They have set out a ambitious plan to become the go to digital currency for the masses and it will be quite interesting to watch how successful they become in implementing it.

Yes, being good with PR brings great $$$ rewards.

I don't think their website is that good though, I think MethodX is working on improving ours.

Their video's aren't great either, is this their best one? http://m.youtube.com/watch?v=TFDUDSm7bI0
I can edit something better I think. In fact if I combine an idea MethodX seeded, we would have a similar themed, 'global currency + community' advert

http://m.youtube.com/watch?v=_W8ZekJ4eSk That one of theirs is really bad.

Point taken Empirical, but I don't think the threat lays in the quality of their individual efforts, but in the effectiveness of their coordination.  the whole being larger than the sum of this parts, as it were.  We need to mirror this type of effort at BTS and hopefully we have finally gotten around to getting going.  It is however, unfortunate that we are getting to the point where we have completely squandered out lead out the gate.  Soon we may have no high ground, and we will be fighting the public awareness battle toe to toe with our competitors.

Yeah. I think we are getting going. I think the Chinese side is leading the way and is capable of great things once they overcome BitShares PR problems & if a handful of guys like Method, HPEnvy, Matt were a bit more incentivised, & with more to work with than their 1 100% delegate, I think we'd start to be in the game. POW is definitely weak right now. Bitcoin is paying $1 million a day to miners and hardly any of the retailers that accept BTC hold it, so the more utility it gains and the more purchases that are made the more downward pressure on price almost.

You have a good point, we need to find a way around the budget limitation that comes with the delegate system at this low level of market cap. 

Agree with you that DPOS is currently our big advantage, but it won't be that way forever... 

[Empirical1.1]

I don't think they should be taken this lightly.

They have the the resourceful Gawminers backing them and a huge community hashtalk.org supporting them. Just checkout their IRC #Gawminers , #XPY .Its quite active to say the least.

There is also a lot of hype around the launch of their coinbase competitor , paybase.com/

They are good with their PR.
Their websites , videos are mass appealing and they have already managed to get articles out in major publications.
http:// blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/
https:// cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/
http:// coindesk.com/gocoin-gains-strategic-investment-software-development-push/

They are looking to buy out companies left and right .They have made investments in GOcoin ,have already bought the exchange coin-swap.net and may buy out shapeshift.io soon and many more acquisitions to come according to Josh Garza ,CEO of Gawminers twitter.com/gawceo

They have set out a ambitious plan to become the go to digital currency for the masses and it will be quite interesting to watch how successful they become in implementing it.

Yes, being good with PR brings great $$$ rewards.

I don't think their website is that good though, I think MethodX is working on improving ours.

Their video's aren't great either, is this their best one? http://m.youtube.com/watch?v=TFDUDSm7bI0
I can edit something better I think. In fact if I combine an idea MethodX seeded, we would have a similar themed, 'global currency + community' advert

http://m.youtube.com/watch?v=_W8ZekJ4eSk That one of theirs is really bad.

Point taken Empirical, but I don't think the threat lays in the quality of their individual efforts, but in the effectiveness of their coordination.  the whole being larger than the sum of this parts, as it were.  We need to mirror this type of effort at BTS and hopefully we have finally gotten around to getting going.  It is however, unfortunate that we are getting to the point where we have completely squandered out lead out the gate.  Soon we may have no high ground, and we will be fighting the public awareness battle toe to toe with our competitors.

Yeah. I think we are getting going. I think the Chinese side is leading the way and is capable of great things once they overcome BitShares PR problems & if a handful of guys like Method, HPEnvy, Matt were a bit more incentivised, & with more to work with than their 1 100% delegate, I think we'd start to be in the game. POW is definitely weak right now. Bitcoin is paying $1 million a day to miners and hardly any of the retailers that accept BTC hold it, so the more utility it gains and the more purchases that are made the more downward pressure on price almost.

[James212]

I don't think they should be taken this lightly.

They have the the resourceful Gawminers backing them and a huge community hashtalk.org supporting them. Just checkout their IRC #Gawminers , #XPY .Its quite active to say the least.

There is also a lot of hype around the launch of their coinbase competitor , paybase.com/

They are good with their PR.
Their websites , videos are mass appealing and they have already managed to get articles out in major publications.
http:// blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/
https:// cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/
http:// coindesk.com/gocoin-gains-strategic-investment-software-development-push/

They are looking to buy out companies left and right .They have made investments in GOcoin ,have already bought the exchange coin-swap.net and may buy out shapeshift.io soon and many more acquisitions to come according to Josh Garza ,CEO of Gawminers twitter.com/gawceo

They have set out a ambitious plan to become the go to digital currency for the masses and it will be quite interesting to watch how successful they become in implementing it.

Yes, being good with PR brings great $$$ rewards.

I don't think their website is that good though, I think MethodX is working on improving ours.

Their video's aren't great either, is this their best one? http://m.youtube.com/watch?v=TFDUDSm7bI0
I can edit something better I think. In fact if I combine an idea MethodX seeded, we would have a similar themed, 'global currency + community' advert

http://m.youtube.com/watch?v=_W8ZekJ4eSk That one of theirs is really bad.

Point taken Empirical, but I don't think the threat lays in the quality of their individual efforts, but in the effectiveness of their coordination.  the whole being larger than the sum of its parts as it were.  We need to mirror this type of effort at BTS and hopefully we have finally gotten around to getting going in doing this.  It is however unfortunate that we are getting to the point where we have completely squandered our lead out of the gate.  Soon we may have no high ground left, and we will be fighting the public awareness battle toe to toe with our competitors.   

[hotpotato]

I don't think they should be taken this lightly.

They have the the resourceful Gawminers backing them and a huge community hashtalk.org supporting them. Just checkout their IRC #Gawminers , #XPY .Its quite active to say the least.

There is also a lot of hype around the launch of their coinbase competitor , paybase.com/

They are good with their PR.
Their websites , videos are mass appealing and they have already managed to get articles out in major publications.
http:// blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/
https:// cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/
http:// coindesk.com/gocoin-gains-strategic-investment-software-development-push/

They are looking to buy out companies left and right .They have made investments in GOcoin ,have already bought the exchange coin-swap.net and may buy out shapeshift.io soon and many more acquisitions to come according to Josh Garza ,CEO of Gawminers twitter.com/gawceo

They have set out a ambitious plan to become the go to digital currency for the masses and it will be quite interesting to watch how successful they become in implementing it.

Yes, being good with PR brings great $$$ rewards.

I don't think their website is that good though, I think MethodX is working on improving ours.

Their video's aren't great either, is this their best one? http://m.youtube.com/watch?v=TFDUDSm7bI0
I can edit something better I think. In fact if I combine an idea MethodX seeded, we would have a similar themed, 'global currency + community' advert

http://m.youtube.com/watch?v=_W8ZekJ4eSk That one of theirs is really bad.

Yea, they finalized their logo just yesterday.It is still quite early ,their videos and site will be polished soon enough but are quite "catchy" already. Rumors of A TV commercial is also flying around.

They have set out some of their goals here http:// teampaycoin.com/
Would love to see something like this for us.

Good to see you guys working hard to get the community effect rolling.

   

[Empirical1.1]

I don't think they should be taken this lightly.

They have the the resourceful Gawminers backing them and a huge community hashtalk.org supporting them. Just checkout their IRC #Gawminers , #XPY .Its quite active to say the least.

There is also a lot of hype around the launch of their coinbase competitor , paybase.com/

They are good with their PR.
Their websites , videos are mass appealing and they have already managed to get articles out in major publications.
http:// blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/
https:// cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/
http:// coindesk.com/gocoin-gains-strategic-investment-software-development-push/

They are looking to buy out companies left and right .They have made investments in GOcoin ,have already bought the exchange coin-swap.net and may buy out shapeshift.io soon and many more acquisitions to come according to Josh Garza ,CEO of Gawminers twitter.com/gawceo

They have set out a ambitious plan to become the go to digital currency for the masses and it will be quite interesting to watch how successful they become in implementing it.

Yes, being good with PR brings great $$$ rewards. I expect them to crash again though shortly.

I don't think their website is that good though, I think MethodX is working on improving ours.

Their video's aren't great either, is this their best one? http://m.youtube.com/watch?v=TFDUDSm7bI0
I can edit something better I think. In fact if I combine an idea MethodX seeded, we would have a similar themed, 'global currency + community' advert

http://m.youtube.com/watch?v=_W8ZekJ4eSk That one of theirs is really bad.

[hotpotato]

I don't think they should be taken this lightly.

They have the the resourceful Gawminers backing them and a huge community hashtalk.org supporting them. Just checkout their IRC #Gawminers , #XPY .Its quite active to say the least.

There is also a lot of hype around the launch of their coinbase competitor , paybase.com/

They are good with their PR.
Their websites , videos are mass appealing and they have already managed to get articles out in major publications.
http:// blogs.wsj.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/
https:// cryptocoinsnews.com/josh-garza-to-launch-paycoin-media-tour/
http:// coindesk.com/gocoin-gains-strategic-investment-software-development-push/

They are looking to buy out companies left and right .They have made investments in GOcoin ,have already bought the exchange coin-swap.net and may buy out shapeshift.io soon and many more acquisitions to come according to Josh Garza ,CEO of Gawminers twitter.com/gawceo

They have set out a ambitious plan to become the go to digital currency for the masses and it will be quite interesting to watch how successful they become in implementing it.

[cass]

Just let me publish a feed for all the entries on coinmarketcap...

Its a simple formula, really:

BTS = 10*(BTC = 100*(XRP = 1000*(LTC = ...

 

Congratulations Stan, you're the fourth winner in the 10 * 5 BITUSD Christmas give away.
PM me your BTS account and I'll send you your price.

Your amusement is reward enough for me!    
Please send my winnings to your favorite project on NullStreet.

Great, your generosity is truly in the Christmas spirit.
It seems another familiar name, is thereby the winner.

Congrats Empirical1.1, thanks for what you've done on your recent project.

Thanks, unfortunately I cannot accept your award, while currently using BitShares branding my video/s may not ultimately be released under BTS. You will find a lot of worthy winners at NullStreet though. A lot of people doing selfless, valuable work there.

 

[Empirical1.1]

Just let me publish a feed for all the entries on coinmarketcap...

Its a simple formula, really:

BTS = 10*(BTC = 100*(XRP = 1000*(LTC = ...

 

Congratulations Stan, you're the fourth winner in the 10 * 5 BITUSD Christmas give away.
PM me your BTS account and I'll send you your price.

Your amusement is reward enough for me!    
Please send my winnings to your favorite project on NullStreet.

Great, your generosity is truly in the Christmas spirit.
It seems another familiar name, is thereby the winner.

Congrats Empirical1.1, thanks for what you've done on your recent project.

Thanks, unfortunately I cannot accept your award, while currently using BitShares branding my video/s may not ultimately be released under BTS. You will find a lot of worthy winners at NullStreet though. A lot of people doing selfless, valuable work there.

[graffenwalder]

Just let me publish a feed for all the entries on coinmarketcap...

Its a simple formula, really:

BTS = 10*(BTC = 100*(XRP = 1000*(LTC = ...

 

Congratulations Stan, you're the fourth winner in the 10 * 5 BITUSD Christmas give away.
PM me your BTS account and I'll send you your price.

Your amusement is reward enough for me!    
Please send my winnings to your favorite project on NullStreet.

Great, your generosity is truly in the Christmas spirit.
It seems another familiar name, is thereby the winner.

Congrats Empirical1.1, thanks for what you've done on your recent project.

[Stan]

Just let me publish a feed for all the entries on coinmarketcap...

Its a simple formula, really:

BTS = 10*(BTC = 100*(XRP = 1000*(LTC = ...

 

Congratulations Stan, you're the fourth winner in the 10 * 5 BITUSD Christmas give away.
PM me your BTS account and I'll send you your price.

Your amusement is reward enough for me!    
Please send my winnings to your favorite project on NullStreet.

[bluebit]

Yeah, it's an interesting group of winners, but I've got a special surprise for you:

Congratulations nomoreheroes7 you're the sixth winner in the 10 * 5 BITUSD Christmas give away.
PM me your BTS account and I'll send you your price.

To all others, this is the last winner of the day.
Replying to my posts, will probably not get you in the winning list.

But who knows you might be a winner tomorrow

I want to be a winner tomorrow

[gamey]

bstv (btstv?) is god.  Not to be confused with bitshares.tv.

[sumantso]

Yeah, it's an interesting group of winners, but I've got a special surprise for you:

Congratulations nomoreheroes7 you're the sixth winner in the 10 * 5 BITUSD Christmas give away.
PM me your BTS account and I'll send you your price.

To all others, this is the last winner of the day.
Replying to my posts, will probably not get you in the winning list.

But who knows you might be a winner tomorrow

Were you bit by something?

(generous of you to dole out $50, though).

I have noticed something, lately the forum has seen colourful posters whose texts I have been unable to figure out for the most part; it started with BTSTV.

[graffenwalder]

Yeah, it's an interesting group of winners, but I've got a special surprise for you:

Congratulations nomoreheroes7 you're the sixth winner in the 10 * 5 BITUSD Christmas give away.
PM me your BTS account and I'll send you your price.

To all others, this is the last winner of the day.
Replying to my posts, will probably not get you in the winning list.

But who knows you might be a winner tomorrow

[nomoreheroes7]

Just let me publish a feed for all the entries on coinmarketcap...

Its a simple formula, really:

BTS = 10*(BTC = 100*(XRP = 1000*(LTC = ...

 

Congratulations Stan, you're the fourth winner in the 10 * 5 BITUSD Christmas give away.
PM me your BTS account and I'll send you your price.

...lol really? Stan? And the V-man? Not sure they need any more BitUSD... 

[graffenwalder]

Just let me publish a feed for all the entries on coinmarketcap...

Its a simple formula, really:

BTS = 10*(BTC = 100*(XRP = 1000*(LTC = ...

 

Congratulations Stan, you're the fourth winner in the 10 * 5 BITUSD Christmas give away.
PM me your BTS account and I'll send you your price.

[fuzzy]

Hey look, its gone.

I'm thinking that tons of people from every different coin community probably bitched at CMC about that one so they took it down.
I can't say that I understand paycoin at all yet, but things appearing out of nowhere at 50 million market cap, and then 150 million market cap due to supply chance, is quite fishy to me.

Welcome to coinmarketcap, where fishy is the official scent.

[Ander]

Hey look, its gone.

I'm thinking that tons of people from every different coin community probably bitched at CMC about that one so they took it down.
I can't say that I understand paycoin at all yet, but things appearing out of nowhere at 50 million market cap, and then 150 million market cap due to supply chance, is quite fishy to me.

[fuzzy]

They just upped the supply from 5 million to 12 million, really?  Lol.

Maybe Fuzzy will want to vote in a delegate to reimburse people who get burned buying PayCoin?

https://bitsharestalk.org/index.php?topic=12541.msg165228#msg165228

ok smartass! 

I only said that as a "potential" marketing move to get people who are burned by scams interested in one of the only "coins" out there that is not a scam. 

As for Ander's statement.  I can't agree more...and there are multiple times I have said something to that effect.  Coinmarketcap deserves less and less respect everytime I see this crap unfold.  Oh well...

[onceuponatime]

They just upped the supply from 5 million to 12 million, really?  Lol.

Maybe Fuzzy will want to vote in a delegate to reimburse people who get burned buying PayCoin?

https://bitsharestalk.org/index.php?topic=12541.msg165228#msg165228

[onceuponatime]

They just upped the supply from 5 million to 12 million, really?  Lol.

From 5,593,288 XPY to 12,218,662 XPY

doesn't coinmarketcap have any standards?

[Ander]

They just upped the supply from 5 million to 12 million, really?  Lol.

[onceuponatime]

I can't understand why/how coinmarketcap.com is giving such an insanely high valuation to PayCoin.

I mean third place, $60 million more than Litecoin? Come on now.

[Ander]

Meanwhile, BTS still getting bought up in high volume on btc38, even though its the middle of the night in China.

[Rune]

Its basically just a mining contract isnt it?  Its a promise to pay $20, an IOU from a centralized authority.

Thats not really the type of thing that should be put on coinmarketcap, imo.

No it is a real blockchain. They're just selling it to the hashtalk community (which is some next level mining cult shit) so even though it is proof of stake everything is using mining lingo. That's also why you "buy a hashstaker" in order to produce blocks through proof of stake. I assume what it means is that you buy a bunch of coins and then rent a node and lock the coins on the node for the amount of time the hashstaker "lasts". I do think the entire blockchain is centralized though, at least if GAW controls the hashstaker nodes. It is painfully obvious that it's a giant house of cards that will collapse unless they really bring some amazing features to the table that will attract lots of non investor users, but I'm not sure it's a deliberate scam.

[Ander]

Its basically just a mining contract isnt it?  Its a promise to pay $20, an IOU from a centralized authority.

Thats not really the type of thing that should be put on coinmarketcap, imo.

[Rune]

Amazingly it looks like it's on its way to 20.

I get the basic idea now, the point is that they are a huge group of miners who all love to mine. Then they have a proof of stake coin where you need to lock your coins for a long time in order to produce blocks. So he's counting on most users locking up their coins so it will be easy to support the 20 USD price floor because relatively few coins will actually be on the market. Of course it's all gonna unravel in the long run unless their coin actually does something useful, but it will be pretty interesting to see how it performs in the short run.

[Gentso1]

People may need to read some interesting articles so that they may present more options in crytocurrency or cryptoequity investments. I'm not saying they "should" . Googling their way may do the trick

I bought some mining gear from GAW back when they first came out and even talked on the phone with Josh. The company always derived and never burned me. The deal sometimes changed a bit and the time-frame may have been off a little but they did follow through.

With that being said I stopped doing business with them once their focus became cloud mining (about the time the primes were coming out). I even helped them beta test their Gui for cloud mining.It was during this time that a few things became clear.

1. They weren't always mining the coins you would point your hash at.
2. The way they repress information and a overall air of sneakiness lead me away from their business.

Like I said, I made some money with them and it was a positive experience but I work with some real crooks and these guys make my spider senses tingle. If you would have asked me months ago I would have thought they would implode by now but here they are.

1 thing, Gaw said they would get this 20$ a coin value by posting a big ass buy wall, where is it?

[cass]

In other news: 50 Cent reveals $78 million underwear deal with FRIGO

PnD alts are just mutants in our local CMC pond you guys,
2015 is the year we find the real monsters..

50 is a real hustler Good for him! 78 million from underwear. That is almost 2x our market cap! LOL

 

[donkeypong]

To me, the most interesting thing is that PayCoin isn't up like 400% in 24 hours. Everything else that ends up that high on CMC has one heck of a bubble to burst. At the moment, this one is up only 11% or so. Are people finally getting smart enough not to buy into pump-and-dumps that suddenly appear out of nowhere?

EDIT: This makes more sense now. I still wouldn't touch it: http://www.reddit.com/r/CryptoCurrency/comments/2q085s/paycoin_and_the_20_message/

[chryspano]

SCAM COIN!

STAY AWAY!

[Ander]

I  think the price is`t real

I think the price is real...but claiming that the supply is that high is pretty fishy.

[jwiz168]

People may need to read some interesting articles so that they may present more options in crytocurrency or cryptoequity investments. I'm not saying they "should" . Googling their way may do the trick

[BTSdac]

I  think the price is`t real

[onceuponatime]

Hilariously they've set themselves up in a situation where staying at their current market cap is basically a total failure, even though they made it to number 4 instantly. As I understand it people bought them for 20 USD in the ICO with the assumption that it was "backed" at that level. If it stays below 20 USD for too long it'll probably completely unravel.

Maybe there is a little bit of misinformation here. Since August I have been with GAW with their Hashlet . I have gained enough funds mining and right after the price of Hashlets soared from $16 to $50  , I have breakeven and more.

Now Paycoin, investors have $4 /coin in ICO where as Josh Garza , CEO of GAW guaranteed its price to peg at $20 once its on the market. The thing with PayCoin is , it had recently ended its PoW phase  with 500,000 coins being mined using SHA-256  algo. After this  PoS will start with the so-called HashStaker wallet (evolved from Hashlets).The recent jacked up of coin supply was due to the miners of Hashlets through Hashpoint- a mining reward for GAW accounts.  Paycoin will continue to increase its supply since it will enter the PoS phase Monday Dec 22, 2014.

So it is actually POS! That's a bit more impressive. It could be they are actually a serious competitor to bitshares, especially if they actually deliver on the 20 USD and maintain their high liquidity... Unless it turns out to all be one big pump and dump.

I seriously doubt if  pump and dump may happen. There is structure or whitepaper that Paycoin will be staked. It's really attractive to investors. Aside from going to be major payment processor (KYC will began shortly) among retail store and online market, the rate of HashStaker (wallets where coins are being staked in 3 or 6 months or even forever) for round 1 would be 0.00972. So if someone stake 1 paycoin to HashStaker wallet here is the computation :

                                    1 x 0.00972 = 0.00972 XPY daily
                                    0.00972 x 30 days = 0.2916 XPY monthly

Do you expect normal people on THIS forum to understand what you are saying? Would you kindly like to define some of your terms?

ie.   "staked"
       "Hashstaker"
       "Hashlets"
        "Hashpoint"

[islandking]

In other news: 50 Cent reveals $78 million underwear deal with FRIGO

PnD alts are just mutants in our local CMC pond you guys,
2015 is the year we find the real monsters..

50 is a real hustler Good for him! 78 million from underwear. That is almost 2x our market cap! LOL

[CLains]

In other news: 50 Cent reveals $78 million underwear deal with FRIGO

PnD alts are just mutants in our local CMC pond you guys,
2015 is the year we find the real monsters..

[jwiz168]

Hilariously they've set themselves up in a situation where staying at their current market cap is basically a total failure, even though they made it to number 4 instantly. As I understand it people bought them for 20 USD in the ICO with the assumption that it was "backed" at that level. If it stays below 20 USD for too long it'll probably completely unravel.

Maybe there is a little bit of misinformation here. Since August I have been with GAW with their Hashlet . I have gained enough funds mining and right after the price of Hashlets soared from $16 to $50  , I have breakeven and more.

Now Paycoin, investors have $4 /coin in ICO where as Josh Garza , CEO of GAW guaranteed its price to peg at $20 once its on the market. The thing with PayCoin is , it had recently ended its PoW phase  with 500,000 coins being mined using SHA-256  algo. After this  PoS will start with the so-called HashStaker wallet (evolved from Hashlets).The recent jacked up of coin supply was due to the miners of Hashlets through Hashpoint- a mining reward for GAW accounts.  Paycoin will continue to increase its supply since it will enter the PoS phase Monday Dec 22, 2014.

So it is actually POS! That's a bit more impressive. It could be they are actually a serious competitor to bitshares, especially if they actually deliver on the 20 USD and maintain their high liquidity... Unless it turns out to all be one big pump and dump.

I seriously doubt if  pump and dump may happen. There is structure or whitepaper that Paycoin will be staked. It's really attractive to investors. Aside from going to be major payment processor (KYC will began shortly) among retail store and online market, the rate of HashStaker (wallets where coins are being staked in 3 or 6 months or even forever) for round 1 would be 0.00972. So if someone stake 1 paycoin to HashStaker wallet here is the computation :

                                    1 x 0.00972 = 0.00972 XPY daily
                                    0.00972 x 30 days = 0.2916 XPY monthly

[Stan]

Just let me publish a feed for all the entries on coinmarketcap...

Its a simple formula, really:

BTS = 10*(BTC = 100*(XRP = 1000*(LTC = ...

 

[Rune]

Hilariously they've set themselves up in a situation where staying at their current market cap is basically a total failure, even though they made it to number 4 instantly. As I understand it people bought them for 20 USD in the ICO with the assumption that it was "backed" at that level. If it stays below 20 USD for too long it'll probably completely unravel.

Maybe there is a little bit of misinformation here. Since August I have been with GAW with their Hashlet . I have gained enough funds mining and right after the price of Hashlets soared from $16 to $50  , I have breakeven and more.

Now Paycoin, investors have $4 /coin in ICO where as Josh Garza , CEO of GAW guaranteed its price to peg at $20 once its on the market. The thing with PayCoin is , it had recently ended its PoW phase  with 500,000 coins being mined using SHA-256  algo. After this  PoS will start with the so-called HashStaker wallet (evolved from Hashlets).The recent jacked up of coin supply was due to the miners of Hashlets through Hashpoint- a mining reward for GAW accounts.  Paycoin will continue to increase its supply since it will enter the PoS phase Monday Dec 22, 2014.

So it is actually POS! That's a bit more impressive. It could be they are actually a serious competitor to bitshares, especially if they actually deliver on the 20 USD and maintain their high liquidity... Unless it turns out to all be one big pump and dump.

[nomoreheroes7]

Hilariously they've set themselves up in a situation where staying at their current market cap is basically a total failure, even though they made it to number 4 instantly. As I understand it people bought them for 20 USD in the ICO with the assumption that it was "backed" at that level. If it stays below 20 USD for too long it'll probably completely unravel.

Maybe there is a little bit of misinformation here. Since August I have been with GAW with their Hashlet . I have gained enough funds mining and right after the price of Hashlets soared from $16 to $50  , I have breakeven and more.

Now Paycoin, investors have $4 /coin in ICO where as Josh Garza , CEO of GAW guaranteed its price to peg at $20 once its on the market. The thing with PayCoin is , it had recently ended its PoW phase  with 500,000 coins being mined using SHA-256  algo. After this  PoS will start with the so-called HashStaker wallet (evolved from Hashlets).The recent jacked up of coin supply was due to the miners of Hashlets through Hashpoint- a mining reward for GAW accounts.  Paycoin will continue to increase its supply since it will enter the PoS phase Monday Dec 22, 2014.

I don't understand much any of the hardcore mining mumbo-jumbo, but how exactly does a coin magically x11 its coin supply without a corresponding massive decrease in price? And how the hell can Garza "guarantee" a peg at 4x higher than it was trading at just a few days ago??

[islandking]

Constantly floored by the level of bullshit that most cryptos are willing to construct in order to effect their perception of value. 

More and more I realize that bitshares really is one of a very few legitimate projects out there.  Sadly, the masses are easily swayed by such dishonest tactics and so many will lose their asses.

Maybe we should set up a delegate to pay out to those who have been screwed over by illegitimate coins in some way.  Not entirely sure how that would look though...

That is a REALLY bad idea.

Yeah, because how would you prove that they actually lost money? People would take advantage of this.

thus the "Not entirely sure how this would work though" part. 
It is obvious people could scam it if done incorrectly...only question is--IS there a right way to do something like this?

The other question is "should someone bail out investors who lost money?" Sounds familiar to the government/bank relationship imo. Providing a safety net for recklessness could be problematic.

[fuzzy]

Constantly floored by the level of bullshit that most cryptos are willing to construct in order to effect their perception of value. 

More and more I realize that bitshares really is one of a very few legitimate projects out there.  Sadly, the masses are easily swayed by such dishonest tactics and so many will lose their asses.

Maybe we should set up a delegate to pay out to those who have been screwed over by illegitimate coins in some way.  Not entirely sure how that would look though...

That is a REALLY bad idea.

Yeah, because how would you prove that they actually lost money? People would take advantage of this.

thus the "Not entirely sure how this would work though" part. 
It is obvious people could scam it if done incorrectly...only question is--IS there a right way to do something like this?

[Rune]

Have not read it.  Link?

https://bitcointalk.org/index.php?topic=896480.0

As it says in the thread, this is required reading for anyone thinking of getting into altcoins.

[jwiz168]

Hilariously they've set themselves up in a situation where staying at their current market cap is basically a total failure, even though they made it to number 4 instantly. As I understand it people bought them for 20 USD in the ICO with the assumption that it was "backed" at that level. If it stays below 20 USD for too long it'll probably completely unravel.

Maybe there is a little bit of misinformation here. Since August I have been with GAW with their Hashlet . I have gained enough funds mining and right after the price of Hashlets soared from $16 to $50  , I have breakeven and more.

Now Paycoin, investors have $4 /coin in ICO where as Josh Garza , CEO of GAW guaranteed its price to peg at $20 once its on the market. The thing with PayCoin is , it had recently ended its PoW phase  with 500,000 coins being mined using SHA-256  algo. After this  PoS will start with the so-called HashStaker wallet (evolved from Hashlets).The recent jacked up of coin supply was due to the miners of Hashlets through Hashpoint- a mining reward for GAW accounts.  Paycoin will continue to increase its supply since it will enter the PoS phase Monday Dec 22, 2014.

[islandking]

Constantly floored by the level of bullshit that most cryptos are willing to construct in order to effect their perception of value. 

More and more I realize that bitshares really is one of a very few legitimate projects out there.  Sadly, the masses are easily swayed by such dishonest tactics and so many will lose their asses.

Maybe we should set up a delegate to pay out to those who have been screwed over by illegitimate coins in some way.  Not entirely sure how that would look though...

That is a REALLY bad idea.

Yeah, because how would you prove that they actually lost money? People would take advantage of this.

[chryspano]

Have not read it.  Link?

https://bitcointalk.org/index.php?topic=896480.0

[onceuponatime]

Constantly floored by the level of bullshit that most cryptos are willing to construct in order to effect their perception of value. 

More and more I realize that bitshares really is one of a very few legitimate projects out there.  Sadly, the masses are easily swayed by such dishonest tactics and so many will lose their asses.

Maybe we should set up a delegate to pay out to those who have been screwed over by illegitimate coins in some way.  Not entirely sure how that would look though...

That is a REALLY bad idea.

[fuzzy]

constantly floored by the level of bullshit that most cryptos are willing to construct in order to effect their perception of value. 

More and more I realize that bitshares really is one of a very few legitimate projects out there.  Sadly, the masses are easily swayed by such dishonest tactics.

Did you read the bob surplus story? It seems like most altcoins as a rule are simply scammers scamming scammers.

Have not read it.  Link?

I sincerely hope that is true but part of me thinks that many being scammed are newbies to crypto who take the terms "trustless system" to mean people can't scam you. 

[Rune]

constantly floored by the level of bullshit that most cryptos are willing to construct in order to effect their perception of value. 

More and more I realize that bitshares really is one of a very few legitimate projects out there.  Sadly, the masses are easily swayed by such dishonest tactics.

Did you read the bob surplus story? It seems like most altcoins as a rule are simply scammers scamming scammers.

[fuzzy]

Constantly floored by the level of bullshit that most cryptos are willing to construct in order to effect their perception of value. 

More and more I realize that bitshares really is one of a very few legitimate projects out there.  Sadly, the masses are easily swayed by such dishonest tactics and so many will lose their asses.

Maybe we should set up a delegate to pay out to those who have been screwed over by illegitimate coins in some way.  Not entirely sure how that would look though...

[Rune]

Hilariously they've set themselves up in a situation where staying at their current market cap is basically a total failure, even though they made it to number 4 instantly. As I understand it people bought them for 20 USD in the ICO with the assumption that it was "backed" at that level. If it stays below 20 USD for too long it'll probably completely unravel.

[luckybit]

Looks like it is centralized by "USD reserves":

Proof Of Reserve
PayCoin™ is backed by a fiat-based reserve of USD that shields early adopters from risk and increases acceptance by large institutions.

It sounds like one of the stupidest ideas I've seen in a long time. I guess if I got in on it I would take a profit right now but it's not going to last.

[Ander]

It seems to have just materialized into existance at a supposed $50M cap.


Lets see:

I will create an asset with a supply of 1 billion coins, so total supply is 1 billion.
I will then sell a total of ONE coin from that supply, at a price of twenty dollars.

MARKET CAP IS 20 BILLION DOLLARS!  I overtook bitcoin! Whee!


Sometimes coinmarketcap needs to use lower numbers for the supply, I think.

[graffenwalder]

Remember Ethercoin?

Same thing happened - reason is because market cap calculation takes the top price off the book and multiplies by the supply, which doesn't consider actual demand for the coin.

Full explanation:

https://bitsharestalk.org/index.php?topic=11514.0

Yes, but this isn't a $4 order pumping the price.
Volume is 1K+ BTC on Cryptsy. And there is some buy support.
This could just be a big pump, with fake orders off course.

I'm interested to see how far they can go, one paycoin is currently $10, with a promise of being $20.
Still I would recommend everyone to stay clear from this one.

[monsterer]

Remember Ethercoin?

Same thing happened - reason is because market cap calculation takes the top price off the book and multiplies by the supply, which doesn't consider actual demand for the coin.

Full explanation:

https://bitsharestalk.org/index.php?topic=11514.0

[islandking]

It was an IPO, with promises of all great things. They atracted quit Some btc.
The only impressive thing was that they went from 0 to 40 terraflop hash in à day.
But since gaw miners is behind it, it should raise a couple of flags.

They sell pay coin on their website for 20 usd, and this is somehow going to guaranty their marketcap.
So all idiots aboard, last call to lose your money.

Honestly I don't understand how people can still fall for this crap.

This shows you how undervalued Bitshares is right now. That some scam coin can raise a $50 million dollar market cap in such a short period of time.

[graffenwalder]

Looks like it is centralized by "USD reserves":

Proof Of Reserve
PayCoin™ is backed by a fiat-based reserve of USD that shields early adopters from risk and increases acceptance by large institutions.

It's moments like these when I wish I could easily short these pump and dump coins.


Sent from my SCH-S720C using Tapatalk 2

Yes, I really wish there was a way to short scam coins. BTS should eventually trade altcoins at some point, right?

The problem with shorting these scams is, you have to asses how high they can go. Otherwise your margin could get called.

You could buy in the frenzy and hope to get a short at a higher price, but that isn't without risk either

[graffenwalder]

It was an IPO, with promises of all great things. They atracted quit Some btc.
The only impressive thing was that they went from 0 to 40 terraflop hash in à day.
But since gaw miners is behind it, it should raise a couple of flags.

They sell pay coin on their website for 20 usd, and this is somehow going to guaranty their marketcap.
So all idiots aboard, last call to lose your money.

Honestly I don't understand how people can still fall for this crap.

Edit: if my memory serves right, they already have 12 million coins, so that would put them on the number 3 spot.

[islandking]

Looks like it is centralized by "USD reserves":

Proof Of Reserve
PayCoin™ is backed by a fiat-based reserve of USD that shields early adopters from risk and increases acceptance by large institutions.

It's moments like these when I wish I could easily short these pump and dump coins.


Sent from my SCH-S720C using Tapatalk 2

Yes, I really wish there was a way to short scam coins. BTS should eventually trade altcoins at some point, right?

[onceuponatime]

What exchanges ae they on? How did they get that kind of valuation on coinmarketcap?

[biophil]

Looks like it is centralized by "USD reserves":

Proof Of Reserve
PayCoin™ is backed by a fiat-based reserve of USD that shields early adopters from risk and increases acceptance by large institutions.

It's moments like these when I wish I could easily short these pump and dump coins.


Sent from my SCH-S720C using Tapatalk 2

[islandking]

Looks like it is centralized by "USD reserves":

Proof Of Reserve
PayCoin™ is backed by a fiat-based reserve of USD that shields early adopters from risk and increases acceptance by large institutions.

[feedthemcake]

https://bitcointalk.org/index.php?topic=895061.0

Proof of waste.

[werneo]

The weekend launch of GAW Miners’ new altcoin, paycoin, led to a speculative boom in mining rig rental prices and a rarely seen boost in altcoin trading.

Paycoin launched on 12th December, kickstarting both a sharp jump in hosted mining prices and a period of sustained trading on several altcoin exchanges. The coin has attracted attention due to the ongoing discussion surrounding GAW Miners, promises of crypto 2.0 functionality and a commitment to shore up its price at $20.

http://www.coindesk.com/gaw-miners-altcoin-launch-sparks-speculative-frenzy/

[cass]

nope also new to me!

[Ggozzo]

Never heard of it until today.

Anyone know anything about it?