I like your post (especially business etics...) and dont want to comment on everything.
Just one thing: You quote "Paycoin is not a true crypto like X Y S" - Yes, maybe (only maybe) PayCoin potentially breakes some rules of traditional crypto, but still, I want to ask you why you think this is a bad thing?
Maybe PayCoin is exactly the vehicle the masses need to adopt. A leadership figure, a cult, a movement, a lot of sheeps who fight on all fronts driven by quite a few innovative heads. GAW has build a massive community by now backing up the coin and given they can master the technical challenges and have honest motives this thing can work out.
In the end, PayCoin has all features a crypto would need to succeed. I say 60/40 - which imho is enough to try. Will it work? I dont know, but to be honest, you can loose all your money in every single crypto out there, the reason why you loose it doesnt matter. Worth the try - Bitcoin failed to impress me lately, not enough drive
Thanks...
The problem I have with ventures like the one being discussed in the fundamental flaw that seems to be overlooked in favor of some implied money potential - again legitimate or NOT. This fundamental flaw is the lack of true innovation under the guise of "marketed" innovation. Is a very old a basic marketing concept that was first reported as being used by the Romans and more recently (still 150 years go) by the traveling salesmen in the Wild West that had all the potions and cures to address any ailment. The video from Disney's "Pet's Dragon" that was posted a few pages back comically showing this process is actually pretty accurate.
Be personable, find out what the customer longs for, build a community consensus, and sell them what they want using terms like "new", "innovative", "greatest in the world", etc; regardless if whatever being sold is real, fake, or actually holds a value.
Basically, there is a psychology to this process and it is used both in commerce and by company leaders in the interaction with their employees. The college classes covering this are often called something along the lines of "Strategy, Change and Organizational Behavior Concepts".
At any rate, PayCoin may come across as offering the world to whomever GAW/Zen claims is supporting it (a much smaller number than most would assume), but many of the claims made have not been realized and most likely will never be realized. GAW/Zen's past history is a good indication of this.
Look between the lines, who is saying what on the GAW/Zen side, and most importantly, the past ACTIONS by those same individuals and the truth will surface fairly quickly.
Scott-
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.
