ShapeShift.io Drops Paycoin, says, “high threshold of evidence as fraud”

In what was seen as a sudden and dramatic move to many in the cryptocurrency community, the coin exchange service ShapeShift.io has announced it will be dropping support for GAW Miner’s Paycoin.

In a post on reddit, the company officially stated it would be dropping XPY because of “a high threshold of evidence as fraud.”

The company stated the following:

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.

They also further elaborated with pictorial proof and links of the promises made by Garza regarding the Paycoin floor of $20.

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You guys obviously didn’t research this article very well and are biased against GAW. Josh Garza said in a statement: “” We can only do so much. We can NOT counteract the downward dumping force of the entire industry. We were upfront about that. I always said two things. We would buy paycoins at $20, or we would use our resources to manage to $20. They both mean the same thing. We will do everything in our power to make the price $20. And that’s what we are doing. We have also said we would not be able to handle… Read more »