I agree with most of what you say except of GAW past history. They didnt deliver on everything they announced, but something like 60-70% which is more than most other companies in this area.
You have also a point here - I could read between the lines and most probably would find anything I want (Maybe they didnt mine: We have no proof; Maybe PayCoin is centralized: We have no proof; Maybe there is no backing fund: We have no proof etc)....
What I want to point out - PayCoin/ GAW has a big momentum now and this can have three possible outcomes:
1. Mass adoption of crypto
2. Failure and everybody looses everything (reason why it fails doesnt matter to me). This can also happen with every other coin/ business I build around a coin
3. Something in between
For the slightest chance going no.1 I am happy to provide some support.
Main "innovation" of PayCoin is the potential floor and a person who can mobilize masses. This was always the "knock-out" argument in every discussion I lead over the last years with different mainstream people/ businesses. They asked me: "When I buy a Bitcoin for 100$ today, who guarantees me it is worth 100$ tomorrow"? I always failed to deliver a satisfying answer for that. Average people need a transition period fiat->crypto where the value of their Coin is tied/ backed by a strong entitiy. GAW may be this entitiy.
Bitcoin/ all others Cryptos until now lack an entity which brings a guaranteed value so that Bob can sleep @night knowing his hard earned money isnt endangerd by price swings - this is imho one of the main hurdles for mainstream adoption.
Most, if not all, verifiable and trustworthy cryptos (regardless of trading value/volume) have one major component in common - a legally registered Foundation made up of unbiased and well known industry insiders who act as the public face to the greater community. 90% of the transparency needed to facilitate a successful coin ecosystem is often handled by the Foundation and not any single person or company.
GAW/Zen's refusal to any reasonable amount of transparency or verifiable processes speaks volumes to their overall character, business ethic, and true belief in their own "coin".
Repeatedly, they have been challenged to prove any of their critics wrong yet instead of doing so the proper way, their immature "CEO" has their single attorney send out C&D letters with threats of lawsuits. If this "CEO" only put as much effort in to doing business the proper and legal way as he does facilitating their current scheme, maybe the need for the "scheme" wouldn't be so pressing.
With that, I am heading out for the Holiday and may not be able to reply to anymore comments directed towards me. Yes, I know this may be a joyful announcement to some, but as the year comes to a end and we welcome 2015 in to the fold, please take notice - I’ll Be Back™
Happy Hanukkah, Merry Christmas, and Happy New Year!
Scott
... poor trolls
The thing about those exchanges is, the majority of trading is probably just day traders 
so it's artificial volume at that. Real whales are waiting to dump into GAW, probably offloading a small fraction on other exchanges to hedge their risk a little bit. 