Paypie Team had been very busy at the event. There was a lot of interest in the blockchain accounting and how we will be using it to solve real life business problems. Everyone was very excited to see this coming.
Topic: [ANN] PayPie - Blockchain-Powered Risk Assessment - page 196. (Read 109500 times)
What was your thinking process to choose ERC20 standard? Why not ERC223 on ETC chain for example which is more secure (https://github.com/ethereum/EIPs/issues/223) ?
Actually i wonder it too. Not just paypie, most of the icos using erc20. Has Erc223 has some diffuculty we don't know?
I would love to hear a dev, why they are choosing erc20 instead of erc223
Because of the many issues from explorers to exchanges.
Right now, now exchange supports ERC23 coins.
There's one coin named "Senderon" it's ERC23 but dev is having difficulty listing it on exchanges as they are not yet ready to upgrade.
Yep, forgot about the fact that it's really easy for exchanges to list ERC20 tokens.
And by the way, ETC is supported by a lot of whales which hope to push it at 100$ at the end of the year.
But there's no reason for such a pump, Ethereum is now widely adopted and used. Just watch the money put in ENS Domains
Sorry for asking but what are the main differences between both ERC20 and ERC223? I am not really familiar with the all the technical details so I would be happy if someone could sum that up in a few sentences. More security is always nice to have.
This means you buy coins that can only be internalized on their platform?
or you get the PieCoin in addition to a PayPieCoin.
or you get the PieCoin in addition to a PayPieCoin.
It wouldn't make sense for the Paypie token to be pegged. it would turn off investors. it's good that they clarified that it was an internal coin that will be pegged.
Actually the devs didnt clarified anything yet, its just a speculation here on forum. But since its a hot topic and kinda important aspect of the project, its essential that it gets explained.I think that it was clearly explained.
"We are not pegging PPP against various currencies. There is an internal coins called "Pie Coin", that will be used to track the payments on the ledger...only this internal coins will be pegged. This is the coin that token holders will get income from.
So it was never intended to peg PPP and internal coin Pie coin will be pegged"
It wouldn't make sense for the Paypie token to be pegged. it would turn off investors. it's good that they clarified that it was an internal coin that will be pegged.
Actually the devs didnt clarified anything yet, its just a speculation here on forum. But since its a hot topic and kinda important aspect of the project, its essential that it gets explained.Actually, you should have read the original whitepaper before making a statement. it was always stated on the whitepaper that Pie coin (an internal coin) not Paypie coin would be pegged. But due to efforts from individuals who rather make aimless uninformed post than read, the information got misconstrued.
It wouldn't make sense for the Paypie token to be pegged. it would turn off investors. it's good that they clarified that it was an internal coin that will be pegged.
Actually the devs didnt clarified anything yet, its just a speculation here on forum. But since its a hot topic and kinda important aspect of the project, its essential that it gets explained. 
Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.
Am not a paypie employee but my guess is an internal coin is a coin that can't be traded by the public, it's only usage in within the paypie platform. Only paypie employee have control of the coin and the aforementioned coin cannot be transferred out of the platform. My guess is with the SEC involvement, and issues it created this is a way to incentive PPP token holders without dealing with the wrath created from issuing dividends.
It is my belief that the PayPie coin CAN be traded by the public (on exchanges), but it is worthless outside of the PayPie system.
It means that paypie coin will only be able to be used inside the PayPai platform, you won't find any other uses for I, you could trade it in exchanges because is a speculative coin I guess, but nothing more, that is a good thing, meaning that if a company want more, they simply must buy it from exchanges or the system.
Well that's a point most coins for a direct use will have as long as they are not build to be universal. But that's also a good think that you explained, because it gives a natural demand for it, as in the other direction no other coin can be used here and value will probably rise with time passing.
Are you guys even reading the post before answering or are you just aimlessly typing away just to say something. We not talking about Paypie coin which can be use on the platform and also traded on an exchange, instead we are talking about Piecoin which is an internal coin only viable on the Paypie platform. Please stop been lazy and read the post before making a comment.
Correct.
It wouldn't make sense for the Paypie token to be pegged. it would turn off investors. it's good that they clarified that it was an internal coin that will be pegged.
Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.
Am not a paypie employee but my guess is an internal coin is a coin that can't be traded by the public, it's only usage in within the paypie platform. Only paypie employee have control of the coin and the aforementioned coin cannot be transferred out of the platform. My guess is with the SEC involvement, and issues it created this is a way to incentive PPP token holders without dealing with the wrath created from issuing dividends.
It is my belief that the PayPie coin CAN be traded by the public (on exchanges), but it is worthless outside of the PayPie system.
It means that paypie coin will only be able to be used inside the PayPai platform, you won't find any other uses for I, you could trade it in exchanges because is a speculative coin I guess, but nothing more, that is a good thing, meaning that if a company want more, they simply must buy it from exchanges or the system.
Well that's a point most coins for a direct use will have as long as they are not build to be universal. But that's also a good think that you explained, because it gives a natural demand for it, as in the other direction no other coin can be used here and value will probably rise with time passing.
Are you guys even reading the post before answering or are you just aimlessly typing away just to say something. We not talking about Paypie coin which can be use on the platform and also traded on an exchange, instead we are talking about Piecoin which is an internal coin only viable on the Paypie platform. Please stop been lazy and read the post before making a comment.
All internal payments will be managed using ERC20 compatible stable “Pie Coins” that are exchangeable for fiat and pegged 1:1 against major currencies to avoid exposure to fluctuations in the prices of cryptocurrencies.
Specifically I am curious how you can peg a crypto token to multiple major currencies at the same time. Pegging a token to a currency is something else than showing an exchange rate.
I quote The Merkle's article "What is a Pegged Cryptocurrency?":
It is vital to understand one cannot simply claim a coin or token is linked to the value of 1 US Dollar without enforcing this fact, though. To be more specific, the cryptocurrency project owners will need to have the specific amount of US Dollars in reserves at all times to guarantee the pegged value of their cryptocurrency.
Specifically I am curious how you can peg a crypto token to multiple major currencies at the same time. Pegging a token to a currency is something else than showing an exchange rate.
I quote The Merkle's article "What is a Pegged Cryptocurrency?":
It is vital to understand one cannot simply claim a coin or token is linked to the value of 1 US Dollar without enforcing this fact, though. To be more specific, the cryptocurrency project owners will need to have the specific amount of US Dollars in reserves at all times to guarantee the pegged value of their cryptocurrency.
Hey rigorous remember that anyone can easily create an ERC20 token, i actually made several just for fun. But it's worth nothing, till you create a market for it. Thus the reason i insinuated that the token might only have internal use.
Again this is just a guess on my part but as i aforementioned, due to SEC rules, the piecoin might have been conceived as an alternative to incentive Paypie customers/Paypie coin holders. Piecoin might be distributed as a form of dividend (note that i use the word a form to denote that its not an actual dividend) and the distribution could be exchanged on Paypie's platform for fiat. Since it's not the main coin associated with the project and only has internal use, i.e.( Paypie won't provide an exchange for it) this deflects any issue that the SEC rules might pose.
As for pegging to multiple currencies, am guessing they will peg it to the currency that's currently worth the most, and use exchange rates from that currency to pay out on other currencies. Again, am just guessing and none of this should be considered viable till statement is obtained from an admin
After 600 years that accounting does'nt move this is a revolution for companies which want to keep time and keep money.
Don't forget INFORMATION!
All internal payments will be managed using ERC20 compatible stable “Pie Coins” that are exchangeable for fiat and pegged 1:1 against major currencies to avoid exposure to fluctuations in the prices of cryptocurrencies.
Specifically I am curious how you can peg a crypto token to multiple major currencies at the same time. Pegging a token to a currency is something else than showing an exchange rate.
I quote The Merkle's article "What is a Pegged Cryptocurrency?":
It is vital to understand one cannot simply claim a coin or token is linked to the value of 1 US Dollar without enforcing this fact, though. To be more specific, the cryptocurrency project owners will need to have the specific amount of US Dollars in reserves at all times to guarantee the pegged value of their cryptocurrency.
Specifically I am curious how you can peg a crypto token to multiple major currencies at the same time. Pegging a token to a currency is something else than showing an exchange rate.
I quote The Merkle's article "What is a Pegged Cryptocurrency?":
It is vital to understand one cannot simply claim a coin or token is linked to the value of 1 US Dollar without enforcing this fact, though. To be more specific, the cryptocurrency project owners will need to have the specific amount of US Dollars in reserves at all times to guarantee the pegged value of their cryptocurrency.
Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.
Am not a paypie employee but my guess is an internal coin is a coin that can't be traded by the public, it's only usage in within the paypie platform. Only paypie employee have control of the coin and the aforementioned coin cannot be transferred out of the platform. My guess is with the SEC involvement, and issues it created this is a way to incentive PPP token holders without dealing with the wrath created from issuing dividends.
It is my belief that the PayPie coin CAN be traded by the public (on exchanges), but it is worthless outside of the PayPie system.
It means that paypie coin will only be able to be used inside the PayPai platform, you won't find any other uses for I, you could trade it in exchanges because is a speculative coin I guess, but nothing more, that is a good thing, meaning that if a company want more, they simply must buy it from exchanges or the system.
Well that's a point most coins for a direct use will have as long as they are not build to be universal. But that's also a good think that you explained, because it gives a natural demand for it, as in the other direction no other coin can be used here and value will probably rise with time passing.
Are you guys even reading the post before answering or are you just aimlessly typing away just to say something. We not talking about Paypie coin which can be use on the platform and also traded on an exchange, instead we are talking about Piecoin which is an internal coin only viable on the Paypie platform. Please stop been lazy and read the post before making a comment.
Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.
Am not a paypie employee but my guess is an internal coin is a coin that can't be traded by the public, it's only usage in within the paypie platform. Only paypie employee have control of the coin and the aforementioned coin cannot be transferred out of the platform. My guess is with the SEC involvement, and issues it created this is a way to incentive PPP token holders without dealing with the wrath created from issuing dividends.
It is my belief that the PayPie coin CAN be traded by the public (on exchanges), but it is worthless outside of the PayPie system.
It means that paypie coin will only be able to be used inside the PayPai platform, you won't find any other uses for I, you could trade it in exchanges because is a speculative coin I guess, but nothing more, that is a good thing, meaning that if a company want more, they simply must buy it from exchanges or the system.
Well that's a point most coins for a direct use will have as long as they are not build to be universal. But that's also a good think that you explained, because it gives a natural demand for it, as in the other direction no other coin can be used here and value will probably rise with time passing.
Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.
Am not a paypie employee but my guess is an internal coin is a coin that can't be traded by the public, it's only usage in within the paypie platform. Only paypie employee have control of the coin and the aforementioned coin cannot be transferred out of the platform. My guess is with the SEC involvement, and issues it created this is a way to incentive PPP token holders without dealing with the wrath created from issuing dividends.
It is my belief that the PayPie coin CAN be traded by the public (on exchanges), but it is worthless outside of the PayPie system.
It means that paypie coin will only be able to be used inside the PayPai platform, you won't find any other uses for I, you could trade it in exchanges because is a speculative coin I guess, but nothing more, that is a good thing, meaning that if a company want more, they simply must buy it from exchanges or the system.
Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.
Am not a paypie employee but my guess is an internal coin is a coin that can't be traded by the public, it's only usage in within the paypie platform. Only paypie employee have control of the coin and the aforementioned coin cannot be transferred out of the platform. My guess is with the SEC involvement, and issues it created this is a way to incentive PPP token holders without dealing with the wrath created from issuing dividends.
It is my belief that the PayPie coin CAN be traded by the public (on exchanges), but it is worthless outside of the PayPie system.
Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.
Am not a paypie employee but my guess is an internal coin is a coin that can't be traded by the public, it's only usage in within the paypie platform. Only paypie employee have control of the coin and the aforementioned coin cannot be transferred out of the platform. My guess is with the SEC involvement, and issues it created this is a way to incentive PPP token holders without dealing with the wrath created from issuing dividends.
Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.
After 600 years that accounting does'nt move this is a revolution for companies which want to keep time and keep money.
Don't forget INFORMATION!
Hey, I just downloaded the whitepaper again. It looks like the "Pie Coin" and "pegged 1:1" have returned. Can anybody verify this?
Yep... these parts have returned. Strange. Maybe dev or Wapinter can clarify.
My guess, is they finally acknowledged that it was wrong to edit out a core aspect of their business plan, just cos some forum members were confused and had issue with it.
Well, am glad they brought it back cos a possible investor who is dedicated and choose to read the either Paypie thread will be wondering what the forum members are talking about, if they had choose to keep it out. That might negatively impact their decision to invest.
Anyway, Wapinter clarified that according to the DEV, "Pie Coin is an internal coin completely different from PPP token, it will be used to track the payments on the ledger...only this internal coins will be pegged. This is the coin that token holders will get income from"
Hey, I just downloaded the whitepaper again. It looks like the "Pie Coin" and "pegged 1:1" have returned. Can anybody verify this?
Yep... these parts have returned. Strange. Maybe dev or Wapinter can clarify.
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