Please don't invest too much time and energy in this. Too much damage has been done. To "fix" things you need to change fundamental things about the coin (stake rates, and the premine) and if that is done, why would anyone invest in that coin? Wouldn't you be afraid that they could change the code again to kill your stakers or take your coins?
I am not deeply involved in the Paycoin mess, sorry for this really basic question:
Are there still "primenodes" (or whatever they were called) frequently receiving large numbers of new coins?
Can "the community" edit the code and eliminate the large rewards for elite accounts after Josh is busted?
There is a hardfork planned by "the community" for April 20 to reduce the staking rate to 100% from 350%.
Still it rewards a small number of wallets (50) with a disproportionately high rate (100% vs 5% regular rate).
It´s dying with 100% also.
Only way PayCoin survive is by removing the prime controllers COMPLETLY.
A Coin where only some people get "rich" doesn´t work and never will work.
PayCoin " The peoples money" = LOL
The original coin implementation was nothing more than very poorly patched PPC. This is known. The Primes concept is founded in DASH/DRK where it is very effective as a confirmation accelerator. GAW/HJG added garbage, but that garbage can be extracted and what makes sense implemented intelligently. The premine and inflation glut are a huge problem, the team and leadership know that and they have begun to address at least part of it (the staking inflation). This is basically day one! Let's see what they're able to accomplish over six months.