[ANN][POS][MASTERNODE]⚡️PayDay-Unique global loan mechanism based on blockchain⚡ - page 40.

birds_ain

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Quote from: sheloa on May 04, 2018, 08:26:53 AM

Quote from: birds_ain on April 29, 2018, 05:32:59 AM

Hey guys, check our introduction video on youtube! It may channel you into PayDay's initial concept and some forthcoming events. Enjoy!

https://youtu.be/FpFnk5xpPvA

Did your team interview the publications? It would be interesting to read

We're preparing the interviews, as soon as they're ready the links will be posted here right away. btw what media you prefer to read?

birds_ain

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Quote from: new_conquistador17 on May 04, 2018, 08:16:35 AM

Quote from: birds_ain on April 29, 2018, 05:20:09 AM

Quote from: bpcguy on April 26, 2018, 01:19:32 PM

Quote from: birds_ain on April 26, 2018, 10:23:31 AM

Quote from: bpcguy on April 25, 2018, 06:45:13 AM

Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?

Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.

Yes, I've already joined them, thanks!
That's an interesting. But where are this insurance money come from? Who pays them?

We're using IMO (Initial Mining Offering). Now you're buying tokens. While they're staying in your wallet, you're getting stake reward, thus the number of your tokens is increasing with every hour.

@bpcguy, that's quite easy, e.g.: the borrower comes up. KYC masternode checked their ID. Auditor checked their docs for credit purpose. After that KYC and Auditor have to kinda vouch for them. KYC masternode freezes a part of their stake as a guarantee, that the ID is checked well. So do the auditors (more than one) - freeze their parts. If money is not returned, these frozen stakes go to loaners (wallets owners issuing the loan). If money is returned, than these parts are not frozen anymore and can be used for further work. And all participants get their interest. The network will adjust the insurance deposit by inself. In case of 10% of non-returns the system will require 10%+ interest rate of all insurance deposit. E.g.: 2% money from KYC, 8% money from 4 Auditor - so 2% from everyone. However, according to BRAC report (http://www.brac.net/sites/default/files/BRAC-at-a-glance-december-2012.pdf , page 3 ) and Muhammad Yunus experience repayment rate is 98.76%

I don`t quite understand what is the benefit for us now in acquiring your tokens? Will we have any special conditions on the platform afterwards?

birds_ain

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Quote from: danimadebangbangchui on May 04, 2018, 07:34:21 AM

any aiirdrop now?

Hey @danimadebangbangchui airdrop#1 has just been closed, stay tuned not to miss the next one very soon!

birds_ain

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Quote from: crytocyprus on May 04, 2018, 06:54:40 AM

Quote from: birds_ain on April 29, 2018, 02:33:51 AM

Quote from: crytocyprus on April 28, 2018, 11:01:18 AM

If PayDay is a credit system, then what will happen in the case of non-repayment of the loan. Is this provided?

First of all, there might be a collectors or so. As you may see in WhitePaper, we will be using Advertising Systems, say Google DoubleClick, Facebook, Twitter to remind non-payers about their debt. Untill they repay. Our experience says that most payments are repaid upon notifications.
Another thing is AI and bigdata. PayDay will be track and analyse user behavior in order to check wether he fraud or real man, and what probability of repayment from this specific loaner.
Next thing are Auditor masternodes. Let's say some business tries to get loan. Owner says : we are blacksmith, and we need some more iron to create more horseshoes and get more profits from it. Auditors comes to action here. They check if this business really exists. If they have a contracts. If they have a sales for a years before. If loaner is business owner, as he states and so on.

To continue conversation and give some more arguments, I have a question to you, @cryptocyprus, do you personally own or use bitcoins or ethers?

I will answer you in order to continue our conversation. I use bitcoins and ethers. I'm not entirely inspired by your system of using Advertising Systems, say Google DoubleClick, Facebook, Twitter to remind non-payers about their debt
In my opinion, this is not serious.

hey @crytocyprus what's up, Google DoubleClick, Facebook, Twitter - those are some of the most popular projects that we use every day. In any case it's better to use local social media, e.g. WeChat or Sina Weibo in China, right?

birds_ain

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Quote from: Ofcifreak on May 03, 2018, 06:37:49 AM

I see you've added the poll about the exchanges.
Have you started the negotiation progess with some exchanges?

Hi! Yeah cause we rely on our investors' preferences so we plan to be listing on the exchanges they're most used to. Have you taken part in the poll and expressed your opinion?

birds_ain

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Quote from: sarahdiana350 on April 29, 2018, 10:23:53 PM

Tell me, how can I participate in this project without investing in personal funds?

Hi @sarahdiana350 That's a good question! You can participate in our airdrop and bounty, so pls follow our thread https://bitcointalksearch.org/topic/m.34911599. Also please explain why you hesitate to invest personal money?

birds_ain

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Quote from: crytocyprus on April 28, 2018, 10:55:10 AM

Quote from: Ofcifreak on April 28, 2018, 09:06:24 AM

Quote from: xaker74 on April 28, 2018, 08:58:32 AM

The team of this coin inspires confidence much more than others such coins, everything is painted in detail and understandably, I will be stay tuned for this thread. Wink

I agree! Welcome to our thread. The team answers all questions

I've been reading WP and I have questions, maybe because I'm still a beginner

Please feel free to ask any questions if you have any. What's not so clear in WP?

birds_ain

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Quote from: fromyesterday12 on April 28, 2018, 08:03:31 AM

I can`t understand how you can be useful to business? with Personal loans is less understandable

Very often it happens that small businesses struggle to get loans with lower rates because they have zero credit story. Therefore they are scared to get small business loans. With PayDay Coin such small business CEOs can get a loan with a lower rate for their business idea realization, and keep their business going while paying their loan.

birds_ain

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Quote from: fromyesterday12 on April 28, 2018, 07:12:34 AM

Quote from: birds_ain on April 28, 2018, 06:40:33 AM

Quote from: crytocyprus on April 26, 2018, 09:08:53 AM

Quote from: sheloa on April 26, 2018, 09:06:41 AM

Quote from: birds_ain on April 26, 2018, 05:16:56 AM

Quote from: sheloa on April 25, 2018, 04:55:39 AM

Have you conducted any marketing research? Will your project be in demand?

Yes we have. Bank loans are in high demand now all over the world, and each country has their own interest rates. Why not erase the geographical boundaries between countries and issue loans at the best interest for both loan sides? btw do you have any bank loans? Wink

Yes. It will be wonderful. I am not better than others, so yes I have a loan. We all want to have a new car

I understand you. The only thing scary about loans. So you become dependent on them. More and more you begin to rely on the credit system

You're right, most ppl are scared to get loans, cause in many countries loan rates are so high! PayDay wants to change that situation and offer loans for a reasonable rate to those who need them.

Hello! What are the rates to be calculated for borrowers? This is the borrowers themselves will determine how much I understand. And what is the deadline for payment of the loan?

The rates will depend on the amount of loan, it's return date and on the credit score of the borrower. So, the borrower with good credit score will be able to get larger amount for longer time, than the borrower with a lower score.

birds_ain

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Quote from: capricorn121 on April 28, 2018, 06:21:30 AM

Quote from: cryptasya on April 27, 2018, 05:02:42 PM

Quote from: birds_ain on April 25, 2018, 12:02:42 PM

PDX team is so stoked about the recent integration with the great Masternodes.online! Listing is on it's way, go check our stats in the meanwhile:
https://masternodes.online/currencies/PDX/?show=1

Congratulation, team! Well done!

Good news and I look at you for updates on the site. I had a problem with your wallet a few days ago. Already all problems are solved?

We have large amount of transactions within blockchain already. From 3 to 15 per each block and there are already 7000 blocks. So it will take some time to get synch, about 15-30 minutes to synch from scratch. Please let us know if everything's ok now.

birds_ain

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Quote from: sheloa on April 28, 2018, 06:09:15 AM

Quote from: birds_ain on April 28, 2018, 05:21:29 AM

Quote from: sheloa on April 26, 2018, 09:06:41 AM

Quote from: birds_ain on April 26, 2018, 05:16:56 AM

Quote from: sheloa on April 25, 2018, 04:55:39 AM

Have you conducted any marketing research? Will your project be in demand?

Yes we have. Bank loans are in high demand now all over the world, and each country has their own interest rates. Why not erase the geographical boundaries between countries and issue loans at the best interest for both loan sides? btw do you have any bank loans? Wink

Yes. It will be wonderful. I am not better than others, so yes I have a loan. We all want to have a new car

Agree:) we hope that by using our loans everyone will be able to get new cars, new houses or get business loans. What do you do for life?

I work in a bank in ordinary life, . Can I become an auditor in your platform?

Hey @sheloa, for sure - apart from your ordinary life you can become a Pay Day auditor by verifying borrowers' docs and therefore becoming their guarantee. When the money is returned you get your commission, not bad right?

birds_ain

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Quote from: Kerandias on April 28, 2018, 01:57:36 AM

Quote from: bpcguy on April 28, 2018, 01:51:03 AM

Quote from: Kerandias on April 28, 2018, 01:47:52 AM

Quote from: Ofcifreak on April 28, 2018, 01:44:03 AM

Quote from: bpcguy on April 28, 2018, 01:41:01 AM

Quote from: Kerandias on April 28, 2018, 01:38:08 AM

Quote from: Ofcifreak on April 28, 2018, 01:33:58 AM

Quote from: crytocyprus on April 28, 2018, 01:23:46 AM

Quote from: Hitchcock on April 27, 2018, 05:01:39 PM

Quote from: crytocyprus on April 27, 2018, 04:43:15 PM

Quote from: birds_ain on April 27, 2018, 04:00:10 PM

Quote from: butt786 on April 27, 2018, 02:46:41 PM

scam com again very sad news

At least thanks for upping our thread. Though with such words. Anyway, we'll appreciate if you give something more detailed but than empty statements!

He just want to increase his posts counter Tongue

You're making the same

Yes, probably. Well, at least I'm interested in thread. And not just without reason screaming "scam, scam"

Now everyone screams scam, on any project. you do nothing about it. There are competitors so work

It isn`t necessarily the competitors work or something like that. It just became too much the ICO, and really failed projects. This is a normal reaction to all failures

The ICO theme became popular, that's all began to look for ways to earn easy money. I agree with you

all members who see new projects immediately say 'a scam', that's why. Even don`t try to understand the topic

In my opinion, a good marketing team should work to fight the screams scam. I also had doubts when I first studied this project

What helped to kill your doubts? Cheesy

It's funny to you? I like the work of the support team now. They are always polite and answer all questions

Thanx guys, we're totally concentrated on the project and also trying to answer all coming up questions asap.

birds_ain

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Quote from: capricorn121 on April 28, 2018, 06:13:07 AM

Quote from: tippytoes on April 27, 2018, 05:51:37 PM

You have KYC requirements under masternodes, yet you are not disclosing your team members? Huh

How can you gain trust especially you are dealing also with lending platforms that everyone else wants to venture with.

Good question. I would also like to know the composition of the team? For any credit institution, the reputation of the team is important.

That's a good question indeed, but NDA won't let us reveal that. But frankly speaking what will you get from knowing that? There are many successful projects, with no or partial info about the team. Also there are many examples of scam projects, having revealed that info from the very start. We truly believe that it's better to look at what the team is doing for the project and follow their progress, you agree?

birds_ain

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Quote from: bpcguy on April 28, 2018, 01:26:53 AM

Quote from: cryptasya on April 27, 2018, 05:52:52 PM

Quote from: bpcguy on April 27, 2018, 05:47:34 PM

Quote from: cryptasya on April 27, 2018, 05:31:31 PM

Quote from: bpcguy on April 27, 2018, 05:22:57 PM

Quote from: cryptasya on April 27, 2018, 05:10:35 PM

Quote from: sheloa on April 27, 2018, 02:21:40 PM

Quote from: birds_ain on April 27, 2018, 12:36:20 PM

Quote from: sheloa on April 26, 2018, 09:00:14 AM

Quote from: birds_ain on April 26, 2018, 07:41:43 AM

Quote from: sheloa on April 25, 2018, 06:40:16 AM

Quote from: birds_ain on April 25, 2018, 06:15:12 AM

Quote from: sheloa on April 24, 2018, 07:16:02 AM

You wrote In white paper that every participant of the system will have PayDay Card. How will this card be issued?

Hi @sheloa and welcome to our thread. We are going to be partners with several banks issuing such Cards that will be used in ATMs all over the world. By the way what banks your credit cards belong to?

You can give more detailed information about the banks. And what type of cards will be supported?

Of course we could say somethin like "We're negotiating with the major Swiss banks like CoinSuisse bank and BankOfBitcoin now" Wink

, but while we're actually negotiating: 1. There's NDA 2. Any ann of our dead cool plans without prior mutual confirmation is a scam coins' lot. That's why we'll be more specific when we're totally sure of the outcome, and the NDA lets us reveal that. btw what banks are the most popular in your location?

Thanks for the answer. Yes, you are right to give verified information. We have a popular bank Ceska sporitelna A.S.

Great @sheloa we'll surely consider it too. Europe is a big loans market full of people ready to issue loans to those who need them for a reasonable rate.

Hope so. It would be great. Then you will have even more potential investors

I would like to have the card from one of this banks! Hope they'll provide them soon!

Why do the participants of the system need this cards?

It's a strange question, actually

Why do you need your debit card? To spend money! And here youll be able to spend your CRYPTOmoney!

I meant: will it be my "profit money" or I just can deposit my cryptomoney from other wallets and use card for withdrawing them?

I think it has to be only your PDX money. You can find more info in the WP or ask admins here..

Unfortunately, I did not find this information in wp. Apparently it is worth waiting for an answer from the admins

That's right, you'll be able to keep your PDX coins in your PayDay wallet. If you need to spend some of that money, you'll be able to get fiat in your currency from any ATM

birds_ain

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Quote from: Hitchcock on April 27, 2018, 04:21:47 PM

Quote from: birds_ain on April 27, 2018, 04:06:51 PM

Quote from: Hitchcock on April 27, 2018, 02:19:34 PM

Quote from: birds_ain on April 27, 2018, 07:02:14 AM

The loan limit and the stake will depend on the credit score of the borrower. That's pretty simple: the loan limit will be as high and required stake from KYC and Auditor masternodes low as the credit score be good. All loaners indicate what credit score they work with. The higher score you have the more potential loaners you get.

It turns out a kind of auction?

Yes, sort of.
If you have a score X, loan will be issued from those holders, who want to borrow with such score, group with lowest interest will be chosed among them

Why should we choose the group with the lowest interest? Maybe biggest?

The higher the return % of previous loans, the higher its rate and the lower its credit rate for the borrower and vice versa. Is that clear?

birds_ain

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Quote from: nucriptobomb on April 27, 2018, 04:18:04 PM

Quote from: birds_ain on April 27, 2018, 04:12:27 PM

Quote from: nucriptobomb on April 27, 2018, 04:04:58 PM

I was saying that there is no guarantee of the return of the investment. Did I understand correctly?

It all depends on what warranty you talking about.
The only numbers we can warrant are from blockchain math. They hardcoded and unchangeable : 280*0.75 coins reward each 120 seconds evenly distributed across masternodes. So from this PoV you may feel safe. Earlier you get in, faster you'll mine. Say with 1 masternode in network you will get 21 000 PDX in return from 20 000 PDX in roughly 100 minutes.

Wow, sounds nice. And where wiil I be able to sold PDX after that?

Now we're figuring out the list of stock exchanges where PDX will be traded, take part in our poll here to add your vote!

birds_ain

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Quote from: nucriptobomb on April 27, 2018, 02:36:45 PM

Quote from: birds_ain on April 27, 2018, 10:31:06 AM

Quote from: nucriptobomb on April 26, 2018, 01:12:26 AM

Quote from: Ofcifreak on April 25, 2018, 11:00:57 AM

Quote from: birds_ain on April 25, 2018, 10:56:35 AM

Quote from: Kerandias on April 25, 2018, 04:33:56 AM

Quote from: birds_ain on April 24, 2018, 09:43:06 AM

Quote from: Kerandias on April 24, 2018, 05:51:09 AM

Quote from: Ofcifreak on April 24, 2018, 05:44:39 AM

I would like to know more about the project. It looks beautiful, but there are many common concepts. We need more details!

You're right! More and more similar projects are growing. How will we be identified among all this? I really want to see how you differ from the same projects?

Hey @Kerandias that's a good question. So, our difference and uniqueness lies in the fact that we are not trying to overstretch ourselves, but to focus on solving a specific problem in partnership with other blockchains (KYC and Insurance blockchains). All similar projects were just trying to take these functions on themselves. Did I manage to answer your question?

You Quite answered. I'm sorry that your telegram chat is not very informative. Will you have any activities to attract investors?

Our Telegram will soon have more info and announcements, stay tuned! As for investors, we're quite ready and open for them. Now everyone can join and buy PDX on our website paydaycoin.io. Soon we're planning to enter stock exchange. Which of them would you prefer to buy our coins on?

That'll be really useful! I don't like bitcointalk communications and prefer telegram.

Telegram is currently the best messenger and information source in the cryptoworld, but in my country telegram were blocked. It is a pain. So bitcointalk is also a good tool for communication

If your Telegram is still blocked you can use our Discord channel instead https://discord.gg/mpfRekm It has FAQ and support sections, if you struggle with anything we're always ready to help Wink

Discord is a bit unconvenient for me, because I'm not a gamer. Well, what will have to get used to. Thank you

That's true you getting used to it quite easily. Also you can always use their support when you need to ask something.

birds_ain

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Quote from: crytocyprus on April 27, 2018, 02:32:17 PM

Quote from: birds_ain on April 27, 2018, 12:35:01 PM

Quote from: crytocyprus on April 26, 2018, 03:09:25 AM

Hello. I just came across your project. While I'm trying to figure out the details. Can you already have white paper in other languages?

Hi! There's just an English version as we are focused on other tasks at the moment.

It's so sad, is there a translation of wp in bounty?

For Bounty we decided to focus more on our channels in Telegram and Discord. What language you'd like to translate our wp to?

birds_ain

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Activity: 180

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Quote from: sheloa on April 27, 2018, 01:34:09 AM

Quote from: birds_ain on April 26, 2018, 10:23:31 AM

Quote from: bpcguy on April 25, 2018, 06:45:13 AM

Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?

Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.

Could you explain the difference between a KYC Masternodes stake and a PoS masternode?

Sure, KYC Masternode is verifying the borrower's docs and guarantee that it's done well, and after get their commission for that. PoS Masternode gets their comission from keeping money in their wallet.

birds_ain

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Quote from: crytocyprus on April 27, 2018, 01:20:53 AM

Can someone explain me the situation with getting a card? How will we receive them? What will the map represent? Will there be problems with blocking?

Hey @crytocyprus We cannot reveal that due to NDA, but we'll definitely announce that as soon as we sign agreements with the major banks. We plan it to be as simple as to get a regular credit card.

Topic: [ANN][POS][MASTERNODE]⚡️PayDay-Unique global loan mechanism based on blockchain⚡ - page 40. (Read 33552 times)