Categories: Bitcoin Entertainment

ShapeShift Ends its Relationship with PayCoin

Click here to view original web page at

Things haven’t been going particularly well for PayCoin, lately.  Following a recent drop in price due to what some are calling the work of “online trolls,” altcoin exchange has removed the currency from its platform due to what the exchange is calling a “broken promise,” where customers could purchase PayCoins at $20 each.

ShapeShift made the announcement via a Reddit post, saying:

“We’ve looked further into Paycoin, and while there are some criticisms that are superfluous (a coin being ‘premined’ does not necessarily make it a scam, for example), there is one particular issue that we cannot ignore.  Josh Garza and the Paycoin admins made a very clear promise – a guarantee – which is that when Paybase opened (a Paycoin marketplace), that Paycoins would be bought there for $20 each.  That was a factual promise, made by the creator of the coin.”

According to the exchange, not only is creator Josh Garza breaking that promise (the coins now sit at around $5 each), but it appears that he and his team are trying to dissolve any history that mentions such a promise.

In response to all the claims of fraudulent activity and the attitude of distrust towards PayCoin, Josh Garza will be participating in a special Q&A session at The North American Bitcoin Conference in Miami, where he will likely address the scam allegations and defend PayCoin’s status as “honesty currency.”  The Q&A is set for January 16th.

What do you all think?  Is PayCoin trustworthy?  Post your comments below.

ShapeShift made the announcement via a Reddit post , saying:

“We’ve looked further into Paycoin, and while there are some criticisms […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by
Tags: one

Recent Posts

Opinion: We Want Bitcoin Results, Not Predictions

Is it safe to say that people are tired of talking about bitcoin? While not necessarily bored by it, they… Read More

5 hours ago

THE BLOCKCHAIN IN ADVERTISING REPORT: Blockchain’s potential to reduce ad fraud and how marketers can get ready

This is a preview of a research report from Business Insider Intelligence . To learn more about Business Insider Intelligence,… Read More

5 hours ago

Blockchain Technology Market 2019 Emerging Technology Research Report by Key Players- Microsoft ,Samsung, IBM, Deloitte,BTL Group, Linux Foundation

New York, NY 16 Sep 2019: – According to a new study published by Polaris Market Research the global blockchain… Read More

5 hours ago

Blockchain to transform most industries in 5-10 years

(Image: Stockfresh) Pro 16 September 2019 | 0Research firm Gartner, whose past evaluations of blockchain have been conservative to say… Read More

5 hours ago

Bitcoin was Facebook’s first choice says Abra’s CEO

Bill Barhydt, CEO of Bitcoin investment platform Abra , claims that Facebook staffers told him the company wanted to use… Read More

5 hours ago

Is This The Biggest Threat To Bitcoin, Crypto, And Facebook’s Libra?

Bitcoin and crypto investors were put on notice this week when French and German government officials backed European Central Bank… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More