In past statements,
both Garza and members of the GAW community have speculated that Paycoin will address the flaws they see in bitcoin,
pointing to price volatility and the need to wait as much as an hour for transactions to settle.
Yet allegations that the firm was operating a Ponzi scheme- selling more hashing power than it possessed- dogged the company,
even as it moved to launch its own cryptocurrency, Paycoin, which was controversially said to be backed by a $20 peg.