Unlike the smartphone which has loads of unique/useful features, Paycoin has no features other than the promise of getting rich quick.
The coin will have useful features, such as escrow, hashspace messaging, time-based contracts, voting and more. None of this is unique, but it's packaged all together to make the coin more useful.
Oh it will? Are you a fortune teller?
My magic Chrystal ball is telling me GAW will do what they've always done and bullshit their way to success without actually doing anything.
GAW couldn't even build their own coin so they had to completely rip off an existing coin, you actually think they will be implementing any bitcoin 2.0 features?
The only way that happens is if paycoin survives long enough for GAW to copy/paste the features from bitcoin.
Yeah, I don't see any built-in security against a 51% attack specifically in the code. But the attack still requires collusion between a majority of prime controllers, and a bad actor(s) can be ejected from the network. All it takes is one prime to call a vote for ejection. So theoretically, GAW (or the collusion group) would have to own 100% of the prime controllers. After the ejection, Orion controllers can bid to become prime, thereby also securing against collusion.
And what if the bad actor is GAW who controls 100% of the prime controllers?
Conspiracy theories abound... doesn't make them real.
You're not understanding my point.
With bitcoin, the network is controlled by whoever owns the most hashrate. Anyone can build ASICS if they have the money.
With paycoin, the network is controlled by whoever owns the most paycoins. GAW premined 95% of those coins and you just have to trust that they are delivered to other people.
One system is built upon trusting math, the other is built upon trusting a serial bullshitter.