Topic: [ANN] e-Peso: the government-backed currency for the Philippines (launch 30-oct) - page 3. (Read 25968 times)

The House has expressed their interest in launching a government-backed crypto in bill 4914. We're going to launch it now, way sooner than it would take them to with all the bureacracy and so on. They can take over later on and enforce peso parity, after there has been some investment and promotion in the ePeso. They'll have a proven and useful crypto ready to use, lowering their barrier to entry significantly.

You don't know what you're talking about. There is no IPO!

Stop the naysaying. Launch a currency or don't. If you don't have the expertise, let those who do do it. I'm open to serious suggestions but you getting defensive about somebody else launching is ridiculous. Still,you're all welcome to contribute and use the ePeso!

Government backed crypto ? for real ?

Go contribute to the thread I started. This ePeso you are launching will die, because

1. It is not backed by the PH government.
2. It will probably not be backed by any Filipino or resident of the PH.
3. No one is going to use it.
4. The value will go lower than the IPO price the day it is launched.

The reason my thread is a pre-ann, is that it is not even official. It's all about ideas. Good ones that we can hope to put on the table for the government to see. It's a discussion. It's not a launch.

If you proceed to launch, I actually do not wish you any luck at all. I hope it dies. It's better that way, especially for the future of the real E-Peso.

https://bitcointalksearch.org/topic/pre-ann-e-peso-coin-philippines-government-backed-proposal-816977

Like I said, we're open to suggestions. But naysaying doesn't help anyone and I don't see any valid suggestions here. ePeso will be launched as planned!

well..no need to say too much for this is absolutely 100% fake

@Naplam - If I thought PoS on it's own could work, we would have done this already. Too many problems with the technology as you pointed out, although central checkpointing would be done by government anyway as part of government control.

If you lived in the Philippines you would understand how things are here. Have you even talked or communicated with the BSP for their feedback?...Do you know how they feel about crypto currencies in general. What do most people here who are involved with crypto currency think of an E-Peso - do you know, have chatted with or met with the congress lady who put this bill forward, and understand the reasoning why she did so. I don't think you understand any of these issues, and therefore this coin will be like all the other country coins. Good for you to mine, convince some newbies to buy and pump the price, and then eventually to dump and take your profit.

I would love to see an E-Peso, but done the right way, for the good of the people, not for miners outside of the country to make a quick buck. It wouldn't even benefit Filipino miners either, since the power costs here are so expensive. We've already discussed the different ways to create it (hence my postings on the subject), but it's just not worth the hassle technically and economically.

If it gets done at all, it will be on the back of Bitcoin, and centrally controlled as is usual with Central Banks. It won't happen for years, and you can guarantee that they will not even think about using a coin you create. So admit to yourself that this is what it is and don't make people think that it is anyway connected to government backing as you have done at the top of your initial posting. It's false advertising and points you out as an opportunist and scam merchant.

If you lived in the real world, and understand banking rules and regulations, then you would understand the reasons why the central bank would not touch this, and in fact may move to ban the use of this and other crypto in general in the Philippines if it is abused and Filipino citizens are affected in a negative way. None of us here want to see that. Think very carefully about what you are doing.

You have tried this already with SpainCoin and it has not gone anywhere. I see a few pumps and dumps in the history since launch, as well as a premine. I also do financial business in Spain and no one I talk to has ever mentioned it, so what makes you think you can do anything in the Philippines when you are not even based here.

If you really want to go through with it, then skype me and we can talk more about the realities on the ground. If you want to launch something, do it properly and take some time without rushing into it based on a random bill pushed by just one government representative.

Seriously? They, the PI Govt, are either going to create their own or use Counterparty. This "E-PESO" project was contracted out over a year ago by USAID. Google it. That contract specification is everything you would expect from a Government entity, out of touch, with old data and hopelessly and needlessly complex. Eventually the PI Govt will either use just BTC or go with a tokenized system they can control completely until they can make the transition to BTC. This coin of yours is not going to fly. Try the Ecuador Sucre that is about to be launched next month. The E-peso you have is DOA.

you sure about this bro??? 

ePeso has just been announced... you'll have more details in due time. The official website will be up next week.

I'm a software engineer. Some recent cryptocurrency-related experience: I've run some pools (CrunchPool currently), I helped patch stratum for maxcoin, I helped patch NewYork coin and I created a block explorer for it. I've also created and maintained SpainCoin.

What? now calling for a 100% premine?? PoS is not secure in its current form as implemented in the many PoS coins in existance. Among other things,it needs constant checkpointing to prevent attacks. That's why the ePeso won't be a premined PoS coin.

A CPU coin is mined by crooks who own botnets. There is simply no way for the little guy to mine them competitively.

Not government-backed YET, but the hope is that it will ease the government's effort greatly to introduce a cryptocurrency in the Philippines. The House has expressed their interest in creating a Bitcoin-like electronic currency for the Philippines but they seem not to have the expertise. The pre-mine is a way to make sure coins go to merchants and users and not just miners, in a fair way.

So now you think it's a pipe dream? hmmm didn't sound that way when you posted that a few days ago! Anyway, you're welcome to make suggestions and colaborate with ePeso.

No..of course it is not government backed, this is a pipe dream to even think they would back it..:-) - Sounds like the usual pump and dump scam coin.

@Dabs - think someone in the Philippines should create something that would be a bit more real?..:-)... Be interesting to see how escrow would be handled in this case..

@Forever21 - There are very few politicians who know what crypto is or how it works, they usually have more interesting ways to make real money..

  you sure this is a government backed?this is a good news to cryptocurrency tho, but 15% premine is too large

didn't even ask me to do escrow. pfft. fake.

subaybayan ang susunod na kabanata at ang nalalapit na bagong pagkakaabalahan ng pulitiko   

yes philippine government don't have any money or own coders

so they need you to make it on BCT

You cannot have a currency that will ever be accepted by government if it is available for just anyone to mine. It's like giving people the ability to print money with no controls in place. So therefore the BSP will never adopt or countenance support of it.

Unless the OP has a network of contacts here in the Philippines, then how are the merchants going to be persuaded to use it?..You need face to face meetings with them, with a sales force in place. I know, because I have already gone through the process with TAGcoin. It's an uphill slog.

And who cares about the miners in this case? It should be supported by the people who will CPU mine it using their wallets for a return that is not above what the banks locally give as interest. It then becomes the people's currency and will enjoy much more success.