It's a 95% premined coin that is POW for another few hours then switches to POS.
At that point it becomes totally centralized and controlled by GAW.
Even with a vague promise of a $20 USE in some shops and buy back on their exchange,when / if it opens, it can't maintain $10 on the exchanges.
GAW have announced several pre existing services where the coin can be used as 'new' and 'revolutionary'.
Apparently it's going to kill bitcoin and become the new world currency. FIAT is obsolete.
The list goes on. It's complete hype.
Smoke and mirrors at it's finest.
Beware if you visit their forum by the way. Instant bans for anything which they perceived as FUD. Like a technical question, comparison to other services etc.
And of course don't let it slip that you're a miner, according to the CEO they are just trolls.
And if you sell a paycoin, then you're just a dumping troll.....
Take anything most of what you read there with a pinch of salt...
who is GAW?
there is super hash power for this coin.
GAW is the company that launched this coin. A clone of peercoin. A part of the Geniuses at Work corporation. They had a week of proper sha mining and now have gone over to proof of stake. The coin is selling on the open market for around $8 despite a promise by Garza, GAW's CEO, that the coin will be bought back at $20 on his own exchange on Monday. Have a search on this forum. Plenty of threads for but mostly against.