Regardless what GAW tells you about what they are doing with paycoin,its actually backed by a large european/institution to the tune of millions
Then I'll wait for the Visa and Mastercard coin
Seriously Paycoin is the opposite of trust-less decentralized crypto currency.
This is one of the main issues with Paycoin. The entire point of crypto currency was to have a fair and trust-less financial system. With Paycoin it's in GAW we trust.
Not to mention that Paycoin solves / does nothing that other coins have done before it. If some of the larger GAW investors did 10 minutes of research (with an open mind) they would be running for the withdraw button . . .
It'll be very interesting to see if GAW can get their Peercoin clone blockchain to work for more than a few hours on Sunday. I really hope that they can get this crap to launch and onto a few exchanges. There are a ton of people who are ready to dump and take their share of the GAW backed price floor.
I hope it doesn't work until the 19th.. i want my hashpoints to become 115 paycoin so i can sell them and make $2000 odd dollars... of course i'll convert it straight to bitcoin. Honestly though i think they will get it to that stage... this is my prediction.
1. Launches again more bugs more shit more people on forked chains.
2. Goes to exchanges they eventually sort their shit out.
- Initial buys are higher because people are estatic.. a lucky few make some $$$.. price stabilises to around 5-15 satoshi's
- people hit the question of why its not $20 josh side steps with comments about popularity eating the wall away and it was unpredictable. BTW popularity means people buy lots so this is false... selling everything makes it a train wreck not a popular commodity... do you see people selling all their fiat for turnips?
3. The cards have fees on them and people start to wonder why they have an extra step in the payment network... i.e. why not just use fiat in back to cash... buying paycoins in between with a fee is a hassle.
4. People get angry because the worthless paycoin rates make them wonder about their 6 month lock in hashstakers which suddenly don't seem so attractive.
5. Josh starts getting hit by SEC etc very bad and class actions come along. Josh wins cause TOS says they can't sue.... nah just joshing you he goes to jail and becomes bubba's bitch
. However the suckers get no money back because its been hidden in the blockchain of bitcoin.
6. Josh gets out after 8 years for good behavior and writes a bunch of books showing the error of his ways and makes some money to repay people. Meanwhile he lives in a mansion with nice cars which nobody can figure out because he's meant to be poor.
