with this coin, mining was just a PR step as most of it is already pre-mined. so they needed a way to put the word out and get ppl interested
yes, early adopters and the ones whi do not get eaten by greed will get something out of it
this payment system (PS) has nothing to do with a crypto any more.
You call my weeks of mining this coin premine? Yes, the blockchain wasn't active. Did we mine it? Yes we did. Your definition of premine is a little bit wide me thinks.
Our share of the mine was based on BTC price, why? Because that is what we actually mined to back up our coins with when the blockchain and code was ready for release.
Granted, it was done in a backwards way, but somehting needed to happen quick, or GAW would be in the same mess the other cloud mining services are in.
I think the negativity in bitcointalk is taking over, and people just can't ask the right questions anymore. It is no longer a quest for enlighenment and knowledge with bitcointalk. Now it's a contest of who can trash the other one quicker. This is why I no longer hang out here much. I am not against critical thought, but come on! It isn't exactly critical thought believing everything negative spewed out across bitcointalk either, but I guess that is what happens to a community which over years have become accustomed to being scammed left and right so much so, they no longer believe in anything, not even their own thoughts.
So translation is that your thought is critical and those that oppose your critical thought are negative.
I'm sorry you had to waste any of your energy here in this thread.
I understand my sarcasm is apparent here in this thread but I objectively through quotes of the creators themselves tried to convey a message.
Paycoin is centralized similar to the Federal Reserve.
I did not say scam I merely point out the obvious difference between this coin and Bitcoin's decentralized approach.