PayCoin is an altcoin which I trade on the exchanges - That's not a ponzi, it's trading.
Altcoins come and go. Devs scam or legitly fail. Some succeed. You get lucky. More often you get f*kd. You do your homework, you get f*ked less. That's how it is.
Paycoin is likely a pump and dump ponzi predicated upon lies and dishonesty. That places it in a special category of alts that should be avoided.
It isn't simply a matter of being mostly premined and highly inflationary that one should be concerned with. It is with the misleading dishonesty associated with this ICO, the fact that coins "mined" during the PoW phase wered actually mined because those ASICs didn't actually exist, and the fact that its price support is heavily dependent upon prime controllers and hashstakers locking in under contract with the centralized issuer for 3 to 6 months at a time to stake at a higher rate(in PoS history this is unprecedented and highly dubious)
Top 7 reasons Paycoin will fail soon or within a year.
1) Centralized
2) Difficult to catchup to Bitcoins network effect and first mover advantage
3) Lack of technical innovation , mostly marketing fluff
4) The coin is backed by greedy and dishonest owners and clients many of whom lack technical ability and are simply in it for the money
5) Long term high inflation will lose out to long term deflationary currencies . We have plenty of fiat for you inflationary needs.
6) Paysave is based upon a plugin which breaks merchants TOS. These merchants will either disable the plugin or sue
7) Legal concerns over statements and ICO launch. There is already a mountain of evidence that GAW and josh have lied and misled their clients. All it takes is one disgruntled client, a lawyer , and they have a trove of evidence to sue GAW/paycoin with. Expect heavy legal pressure in the future. This is one of the severe weaknesses with paycoin that Bitcoin is immune from. There is no centralized Bitcoin company to sue or place legal pressure upon. There is no Bitcoin CEO.