Cryptsy Needs to Get Away From Paycoin - Now
"The poor and the needy are selfish and greedy." -The Smiths. Oh Cryptsy, you've done it again. This time it's not losing customer deposits for months, robbing them of proper exchange rates, hiding customer deposits without telling them, or locking up large sums of money. No one has (yet) sued you over this one. No, this time you've gone and tied your future to the future of Paycoin, the most scam-ridden, hype-driven, fraud-tainted, lie-based altcoin the cryptocurrency world has ever witnessed. This is an op-ed. Also read: Josh Garza Releases A Hit List of Media Outlets. E-mail dumps have....
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This week, CoinFire reported that the US Securities and Exchange Commission (SEC), the Internal Revenue Service, FinCEN, Department of Homeland Security, and other government agencies have officially launched multiple investigations into Cryptsy International LTD, a Belize-based bitcoin exchange headquartered in the US and Canada. Cryptsy allegedly engaged in fraudulent operations with GAW Miners, a defunct exchange founded and operated by Josh Garza, the creator of a multi-million dollar cryptocurrency investment scam PayCoin. Government agencies and law enforcements including the SEC....
It has been a tough couple weeks for GAW with a $350,000 lawsuit and now an announcement that it and its cryptocoin, Paycoin, has changed from its original iteration. According to a new whitepaper that is being circulated, Paycoin has entered a new stage where it leaves the hands of GAW and is now being held by a consortium of organizations. "The fate of Paycoin is now in the hands of every person and organization that hold coins. With this newfound freedom, we want to exercise our rights to make Paycoin the people's money and do what is necessary to help the coin thrive," the Paycoin....
The popular cryptocurrency trading site Cryptsy.com has been having some noticeable issues these past few hours. Users of Cryptsy have been reporting negative balances, frozen transfers, suspended withdrawals. Speculation is that a recent update is causing the issues. Cryptsy is aware of the issues, but no official statement has been released yet. Who's been hit? I spoke to BlackDogeOfWallSt, one of the developers of BlackCoinPool.com (BCP), which has probably been the hardest-hit community from Cryptsy's problems. BCP has had to delay their payments due to the problems. BCP's payouts have....
Instant altcoin exchange ShapeShift.io chose to remove PayCoin from their platform. Today, altcoin exchangeShapeShift.io formally removed PayCoin (XPY), GAW CEO Josh Garza's controversial altcoin, from their list of accepted coins. Citing PayCoin's (alleged) broken promise to buy PayCoins at $20 each, ShapeShift considers PayCoin a fraud. Also read: Coin-Swap Retires Some Altcoins. PayCoin Delisted from ShapeShift.io. ShapeShift made the announcement in a Reddit post. They explain that they originally added the coin due to customer demand but decided to remove it after allegations that....
Bitcoin, litecoin, altcoin, dogecoin, darkcoin... And now here comes PayCoin, announcing its new cryptocurrency for worldly use in the digital arena... ... And alongside the new currency comes Paybase, the platform that serves as the batteries to PayCoin's remote-controlled car. Paybase allows customers to transfer their PayCoin into bitcoin for the purchase of goods and services. Supported by major investment backing, PayCoin claims to be user-friendly and simple enough for those brand new to the digital currency universe. With topics such as mining and staking made easy for PayCoin....