Q: Do I need to get verified to trade PayCoin and Bitcoin for FIAT on PayBase?
A: PayBase will follow all local regulations and AML compliance laws. Verification will be required and KYC policies will be in place.
So they really need to be compliant with all the local regulations to even think of doing USD or even EUR. Now with the Visa card they will need to be compliant because Visa would not be allowed to do business with them otherwise.
We shall wait and see, but as I said above it needs to go far beyond money laundering regulations to be of any use to the customer.
You seem to put a lot of trust into what the CEO says, I tend to think he lies quite a lot, maybe that's the difference. Think how the coin was hyped and how it turned out to be - that's how I imagine Paybase. Launched as a barely working skeleton with all the good stuff "coming soon". Some features may be forgotten and/or replaced with "better" features in a more distant future.
Not much time left to speculate, only a week to go...
The coin is indeed hyped beyond all reasonable measures. But if what I suspect is true then paybase is really not something thought up by GAW. GAW is/was mainly a cloud mining company reseller of mining equipment. I think they got another entity that wants to stay out of the light at the moment to push the whole paybase thing. It really is too big for a simple company like GAW. I suspect there is a whole other side to this. No I have no proof. Paybase feels like an addon by someone else not GAW. A bank maybe or a big financial institution that wants to start with crypto and be the first to have something like paybase.
Now I must admit to having these same thoughts. It was odd when they went to great pains to correct the blog article when it said this was being built on the bitcoin blockchain.
Yeah I think there was a serious miscommunication there or the person that wrote the article did not understand what was meant by blockchain and looked it up and saw bitcoin related articles.
Even odder they didn't lead with the Paybase element. It is after all the jewel in the crown.
I'm not sure the name Paybase was know at that time.
That was untill I noticed the owners of the original Paybase, Bottomline Technologies, have removed reference to it from their web page. May be putting 2 and 2 together to make 3 but it would tie in with you're speculation.
Now that is something interesting. I don't think GAW has enough influence to do that so it must be somebody with a great deal of influence or GAW could have really bought the name.
(Suchmoon let me keep the tinfoil hat)
Oh I'm skeptical as hell I need to understand stuff before I believe in something. It took me two days to get my head around the stakers but when I finally understood what the goal was it made perfect sense.
So, as you know, I hate agreeing with you, but you may be on to something.
However, I very much see it as solving a problem that doesn't exist. No one in their right mind is going to put their pay check into a crypto exchange, never mind one operated by GAW.
Hope they can get it together at least long enough for the people to get at least some if not all of their cash out.
Well if paybase is operational and working people will come. Maybe not very many at first but it will have a snowball effect. How many people here think they pay too much fees when using a creditcard or for that matter any transaction?
Now on another topic btc.com I read something last week that struck me
Banking Technology Cryptocurrency B...T...C...