GAW new announcement was exactly as expected:
1. Turn ALL miners into Stakers
Even if we suppose GAW did in fact keep a mining farm with 15MW installed power, switching to pure staking will allow them to close down the whole thing as staking does not require any dedicated crypto-optimized equipment. Just from savings in 15MW electricity, GAW will save thousands of dollars daily.
2. Extend the HashPoint producing period
This keeps everyone patiently waiting for the Second Coming ...um, the PayCoin actual release...
3. Make / Force customers to keep their PayCoins locked safely into wallets
Stakers have one very nice feature: they require PayCoins to work
So, if everyone now has only stakers the amount of coins locked safely away will skyrocket.
Practically, everything now revolves around people believing that PayCoin will materialize with a magic value of $20 apiece.
IMO GAW has gone that far and will stay in business up to the point where PayCoin will be actually released and available to convert to BTC.
They are doing everything they can to lock away as many coins as possible until that day so they can really support the $20 value. The whole thing will come crashing down once the $20 proves fake.
1. Turn ALL miners into Stakers
Even if we suppose GAW did in fact keep a mining farm with 15MW installed power, switching to pure staking will allow them to close down the whole thing as staking does not require any dedicated crypto-optimized equipment. Just from savings in 15MW electricity, GAW will save thousands of dollars daily.
2. Extend the HashPoint producing period
This keeps everyone patiently waiting for the Second Coming ...um, the PayCoin actual release...
3. Make / Force customers to keep their PayCoins locked safely into wallets
Stakers have one very nice feature: they require PayCoins to work
So, if everyone now has only stakers the amount of coins locked safely away will skyrocket.
Practically, everything now revolves around people believing that PayCoin will materialize with a magic value of $20 apiece.
IMO GAW has gone that far and will stay in business up to the point where PayCoin will be actually released and available to convert to BTC.
They are doing everything they can to lock away as many coins as possible until that day so they can really support the $20 value. The whole thing will come crashing down once the $20 proves fake.
It was the plan from the start. The company never just switched from BTC mining. Think about it. If they offered Paycoin right off the mark it likely would have been more legal. Nobody in their right mind would have paid in to stake from the start. To get victims you need to use bait. BTC was the bait. You come in get a nice slice so you spread the word and bring more victims.... then you direct these victims to the true plan.
Its like the pied piper. Maybe that would make a good picture
