Yesterday I woke up to a deluge of comments and messages related to my post on GAW Miners CEO Josh Garza’s buyback program for the controversial digital currency Paycoin. I frantically recalculated my numbers to correct the post for factual accuracy but made an arithmetic mistake that reduced the impact of the point I was trying to make with my post in the first place.
I had originally stated that it could take up to 300 years for Garza’s buyback program to complete, should all the XPY in circulation be sent in to the $20 “Honor Program”, but that number was based on an incorrect amount of XPY in existence. When I found (thanks to my readers) a reliable source showing the actual amount of XPY in existence, I then made a simple mistake while doing some basic arithmetic and came up with a value of 4.6ish years. But that was wrong!
It really will take a lifetime…
There is no question Garza’s “Honor Program” is misleading. If you don’t see that this is an obvious attempt to buy time (potentially a literal lifetime) for his failing project, then I suggest you take a few steps back and examine the facts surrounding Paycoin and Garza’s actions over the past six months or so.