@bitcoinnoisseur
It is not that bitcoin is not viable. But the model bitcoin mining and dumping that is not viable. Also the merchants shops etc that accept bitcoin and dump it to fiat is not viable. Look at the price of bitcoin in the last few months.
The model has to change and that is what GAW is trying to accomplish.
And how are they going to change that?
In a free market, you cannot control the price of the coin. There will be no incentive to keep Paycoin when it's not as stable as FIAT.Literally nothing is going to change with paycoin, you are just creating a clone that is
not needed.That remains to be seen. But reading the white-paper and understanding the system I see a glimmer of hope that it can be done. It has been said so many times in here it's another shitcoin. Well 99% of all the coins that are being created or where created are still based on the same model mine and dump. Some of the other 1% have come close to being stable like blackcoin until they started up blackcoinpool and it started all over again. mine (well this time it was really buy) and dump.
Now there is an opportunity to try another model. Let's just see what happens with this model and see if can work with all the infrastructer and services that are build around it to help it succeed.