Expert From BitcoinTalk GAW/Josh Garza
April 17, 2015
Let's talk about Paycoin, GAW, and other brands, products, and services offered or promoted by Homero Joshua Garza, AKA Josh Garza, GAWCEO, MrCEO, josg21. If you are new to this thread I would like to suggest to read this post first, then review some links and quotes in the second and third posts of this thread, and read the last 10 or so pages to catch up with the current events. Please also visit the last few pages of this shorter thread for a more condensed collection of important information. The discussion in this thread often gets heated and even borderline NSFW at times. Learning to use the "Ignore" list might be advisable. Below is a brief overview of main events in GAW history in reverse chronological order. Additional source links can be found in the second post of this thread. Recent events April 2015. Multiple e-mail, document, and chat leaks have occurred. Among the highlights of revealed information:
March 2015. GAW CEO Josh Garza attempted to promote two new projects that he claimed are not related to GAW: CoinStand and Mineral.
March 2015. GAW fired most of its staff including all developers. February 2015. There has been a massive leak of GAW e-mails and documents, including communication with customers, overdue bills, SEC subpoena, etc. The discussion starts around here and archives are here and here. January 2015. Updated: Paybase blog announced a buy back plan to honor the $20 Paycoin price guarantee. The plan will require Paycoin holders to put the coins into escrow and GAW is committing to paying out a minimum of 100 thousand USD per month to gradually buy those coins at $20 each. It is not known yet as to who will handle the escrow, how long will it take the buy back to complete, and other important details. Registration for the buyback program did not start as scheduled on February 1st due to waiting for an SEC approval according to Mr.Garza (later edited to a more generic "government" approval). This news led to a 50%+ drop in the XPY/BTC exchange rate, which later recovered to about 25% down. January 2015. Multiple GAW employees are reported to have left the company. January 2015. A new feature called Payflash was released to Paybase. I allowed to buy Gyft gift cards for major retailers using XPY. Shortly after the release the price of XPY on Paybase crashed as low as $0.01. This may have been caused by Payflash selling XPY for BTC pay Gyft, and a combination of other issues. Full official explanation has not been released yet and GAW CEO has cancelled his appearance in TNABC as a result of the issue. January 2015. GAW CEO Josh Garza is backing out of a debate with Litecoin Association Director Andrew Vegetabile. Mr. Garza initially proposed an open public debate in person online as a way to address the Association's decision to pull Litecoin out of GAW-owned exchange Coin-swap.net. Now Mr. Garza is suggesting an e-mail correspondence instead. January 2015. Paybase used payment processor Stripe to accept credit cards for XPY sales. It may be violating Stripe's Terms of Service, which has a list of prohibited businesses that includes virtual currency sales. Credit card purchasing is disabled at this time.
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