It sounds to me that you just described a 51+ scenario. They control at least 50% in Prime Controllers and then a significant amount in ZenCloud accounts.

You stated that "the prime controllers were already created on Monday the 15th". I asked: "Are you sure? Any evidence of that in the source code? Or how else is that going to work?"

So just to make sure (and this is not rhetorical), which of the following is correct:

a) "the prime controllers were already created on Monday the 15th"
b) "has not happened."

Unlike the smartphone which has loads of unique/useful features, Paycoin has no features other than the promise of getting rich quick.


Can you prove that GAW doesn't own 50/50 prime controllers?


You mean the source code of peercoin which includes absolutely none of the features claimed by GAW?

I think he's refering to the multiple times Josh stated that you will be able to reverse payments, freeze wallets, recover lost btc, all without the private keys. Then again this could have been thrown out the window like everything else in the ever changing pipeline.

And what if the bad actor is GAW who controls 100% of the prime controllers?

Sounds like a hard fork would be needed to put them in place and we have less than 9 hours till the end of POW. Hopefully the network can still function with regular staking until this is implemented. We'll see soon enough.

The coin will have useful features, such as escrow, hashspace messaging, time-based contracts, voting and more.  None of this is unique, but it's packaged all together to make the coin more useful.

Just like when smartphones first came out... there were very few useful "apps".  It takes time to develop the ecosystem.



Nope.  Can you prove that they do?



I think it would be interesting to recover lost btc from a paycoin wallet.

I don't think any of these features exist yet.

No hard fork needed.  POW just needs to end at the timestamp.

I'm still puzzled by this whole orion-bidding-prime process. Shouldn't it all be a transparent and cryptographically verifiable process? Otherwise why bother calling it a crypto currency.

In other words, let's say I buy 125k coins on Cryptsy (or maybe my name is Craig). How can I apply to host a Prime controller? This all starts in a few hours, and there doesn't seem to be any concern from anybody (us trolls don't count) that nothing is known about it

And then what? If the code for Prime Controllers is not there yet how does it get put in place without a hard fork?

Oh it will? Are you a fortune teller?

My magic Chrystal ball is telling me GAW will do what they've always done and bullshit their way to success without actually doing anything.

GAW couldn't even build their own coin so they had to completely rip off an existing coin, you actually think they will be implementing any bitcoin 2.0 features?

The only way that happens is if paycoin survives long enough for GAW to copy/paste the features from bitcoin.


You're not understanding my point.

With bitcoin, the network is controlled by whoever owns the most hashrate. Anyone can build ASICS if they have the money.

With paycoin, the network is controlled by whoever owns the most paycoins. GAW premined 95% of those coins and you just have to trust that they are delivered to other people.

One system is built upon trusting math, the other is built upon trusting a serial bullshitter.