Paybase has officially announced that it will be honouring its promise to create a $20 floor for the PayCoin. In a short blog post all was revealed as the PayCoin boss Josh Garza unveiled the PayCoin Honour Program.

The Honour program consisted of many new updates to the Paycoin network such as the coins will be held in a vault operated by a independent company. As juicy and interesting as this may sound all eyes were lower down as the Honor program revealed that the long awaited $20 floor for the coin. Recent times are tough for PayCoin investors with the price dropping at ever bound. However with Josh Garza supposedly keeping to his word fortunes may change for those who invested.

$20 USD Payment in Bitcoin at the USD Rate of Exchange, Upon Commencement of The Paycoin™ Honor Program: Repurchases of Paycoin™ will yield a payment of $20 USD, in Bitcoin, at the USD rate of exchange for each monthly disbursement during The Paycoin™ Honor Program.

However one cannot breathe a sigh of relief at the first sign of a positive as Josh Garza has failed to keep up to many of his promises in the past. In our previous article we had explored the unsustainability of the PayCoin with many users flagging up the coin as a scam for a variety of reasons. The $20 floor promised was also a reason for investors to worry as many other industrial player and analysts predicted this would be unsustainable and unprofitable for the site. However with the site promising to take action on some promises, shown below, investors will soon discover the authenticity of GAW.

We will perform the enclosed action items:

• Re-establish the $20 value of Paycoin™ through this initiative.

• Merchant integrations will follow suit, as originally planned.

• Finally, we will deliver the enhanced features we know many of our supporters look forward to using.

There were also various other feature outlined in the Honour Programme which will soon be going ahead. These included Account Verification, Third-Party Authentication, Monthly Repurchase Disbursements which is a new feature for the PayCoin. More details can be read on the PayBase Blog

PayCoin market movement

Since the release of the news the price of PayCoin briefly spiked to 0.023 Bitcoins. This higher price was not held for long as the positivity of the news died down and prices slid back down to lows of 0.013 Bitcoins in a matter of hours. The PayCoin is speculated to have a upward market movement if the Honour Program does ever get started as the $20 floor will get the ball rolling for growth. Current investors are set to multiply their PayCoin value 5x + but only time will tell if the infamous Josh Garza lives up to his latest promise.

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