So anyone here have insight into Paycoin?

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From what I gather so far Paycoin seems to be billing itself as a hyper regulatory compliant crypto-currency that will play well with banks and regulatory agencies. It seems that Paycoin is seeking to do what bitcoin will eventually do itself. Is it that AML and KYC is coded into the blockchain? So what is the twist? Anybody here have the lowdown?

Posted on December 21, 2014 at 1:51 PM

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thrakkath

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Paycoin was a centralized coin created by GAW. It has fallen foul of SEC(Securities and Exchange Commission) in US and price is in freefall at the moment due to a battle between the GAW CEO and former employees over millions of allegedly stolen coins.

Paycoin was supposed to have a $20 dollar floor price, but is now worth $0.11. I would definitely steer clear of this coin unless you want to lose money, its very unlikely it will survive much longer anyway.

Posted on April 14, 2015 at 11:40 PM
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optictopic

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@thrakkath Thanks for the update. I listened to the interview with Mike of Coinfire and it sounds like charges against the team behind paycoin are just piling up.

Posted on April 15, 2015 at 7:18 AM
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Cryptonaut

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Im surprised they have lasted this long actually, I was expecting the whole thing to implode back in like january. Makes for some pretty decent entertainment though :p

Posted on April 15, 2015 at 1:47 PM
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