Paycoins.biz:
A new thread at the Hashtalk forum has been started by @GAWCEO to answer questions about the Paycoin Honors Program, open-forum style.
@GAWCEO points out:
- There will be no limit to the program - add any number of Paycoin you choose.
- All Paycoins that participate in the program will each receive $20 in value.
- You can add your Paycoins at any time during the 30 days.
- When these 30 days end, no Paycoin can be taken back.
- Payouts will be once per month.
@GAWCEO also announced that the 3rd party escrow company for the Paycoin Honors Program will be announced soon.
THE PAYCOIN HONORS PROGRAM
WILL PAYCOIN BE BONDED?
GAW has not yet stated if it will insure the Paycoins put into the Paycoin Honors Program.
GAW has only said:
“We are looking into bonding options.”
Whether or not the Paycoins will be bonded is going to be a big factor in whether people will give up their Paycoin. Without the proper bonding, you have no insurance policy whatsoever. How can you be sure you will get $20 a Paycoin? You cannot.
HOW PAYCOIN WILL BE RAISED TO $20
The Paycoin Honors Program was developed around the idea that it will manipulate the price of Paycoin to $20. (Most people will not sell their Paycoin on the exchanges for less than what they could get for it in this buy-out program). The second part of this is, GAW is planning to release one or more Paybase developments which they speculate will raise the price of Paycoin - If the price is at $20 then say to $22 or more. GAW will then sell the Paycoin put into the program, making a huge profit – potentially.
WHAT’S IN IT FOR GAW?
The Paycoin Honors Program could stand to make GAW millions. This depends on how many coins are put into the program and if the price will actually raise above $20. It’s probable if the circumstances are just right.
WHAT’S IN IT FOR YOU?
Let’s look at the flip side here. Yes, you want $20 a Paycoin! BUT if the Paycoin does not get bonded for this program…. AND things do not go as planned (i.e. Paycoin does not raise high enough for whatever reason), who’s to say that you will get paid? There will be NO GUARANTEE for the Paycoin Honors Program without bonding.
If you want to know more about the Paycoin Honors Program, check out our previous post Paycoin’s Future- New Honor Program Poses Big Questions for Price and Investors .
Check out the Honors Program Q & A at Hashtalk.
Natalie Johnson
Paycoins.biz
We want to know, what do you think about the Paycoin Honors Program? Are you considering signing the contract to “sell” your Paycoins?
I am thinking about putting in a small amount to hedge against potental paycoin decrease. I still believe GAw can pull off paycoin if they partner with retailers and service providers. The time is ripe for a new and functional cybercoin with a built in base. Josh needs people to bring this to fruition. I think he’ll pull it off.
Yes, I think a joint effort on the community’s part is needed too. More retailers and eCommerce sites accepting Paycoin could really get Paycoin off the ground.