Re: GAW Zen Hashlet PayCoin unofficial uncensored discussion. ALWAYS MAKE MONEY :-)
I prefer a cautious approach to my investments and yes, the 'locked-in' part of the whole staking process just puts me off entirely.
I can understand this point of view because paycoin is so new... but certificate of deposits are nothing new, and are generally considered to be some of the most conservative/cautious investments you can make. And that is pretty much what a hashstaker is... it's a CD A high-yield CD... but nonetheless... a CD.
I have to say, that would be true if this altcoin had a proven track record. you already state that it's new, and therefore, it is not a cautious investment for anyone to make, in any way.
Well, let's look at the comparison two ways...
1. A regular bank giving a 1.5% APY is actually losing you money if inflation is 3% per year. So... a bank CD is only cautious because your original deposit is coming back to you... but that doesn't mean you made any money. You actually lost purchasing power, while the bank had a field day with your original deposit.
2. A hashstaker is similar in that you are paid in XPY... not USD. So it doesn't matter what the XPY->USD exchange rate is when the hashstaker matures/expires... you are getting the rate that GAW said you were going to get in XPY only. The purchasing power of that XPY may be poor due to a poor XPY->USD exchange rate... similar to the purchasing power of your CD deposit being affected by inflation in #1 above.
The big question is if the exchange rate between XPY->USD can be effectively stabilized with the floor that GAW talks about for a significant amount of time. No one knows the answer to this unfortunately.
This is the part I think most believers fail to understand/acknowledge.
As of now you would need to dump 1.7m paycoins (14% the total coin supply) to eat through GAW's buy wall of ~$34 million.
In 5 years there will be 12.8 billion paycoins so dumping 1.4m paycoins would only be ~0.015% of the total coin supply. To dump 14% of the total coin supply (1.8b) at $20/coin would require a $35 billion buy wall.