[ANN][PSB] Pesobit, the currency for remittances and international cooperation - page 155.

Pioneer88

sr. member

Activity: 572

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: bitwarrior on August 27, 2016, 11:19:24 PM

Quote from: chong_kee on August 27, 2016, 11:08:23 PM

Hi Lutzow/Dev team,

I see the potential and support the project. I have bought from the ICO, and will like to buy more but I have a couple additional questions:

1. Is there a minimum or target amount that needs to be raised for the ICO? Most crowdfunding will reimburse the investors through the escrow if this target is not met.

2. Just for contingency planning - is the escrow just a single individual? This is not a multisig setup right? If something happens (I do not wish any, just for sake of discussion) and we lose the holder of the private keys during the ICO period - what is your contingency plan for that?

Thank you.

Very good questions. I am also suggesting before releasing the wallet , there should undergo strict testing for usage and security issues that may arise. There have been an increase of altcoins with built in hidden premine and backdoor trojans or keyloggers that needs to be addressed when it comes for the pesobit wallet.

The ICO announcement doesn't tell about refunding or the target of ICO fund.
For contingency planning, it seems impossible to plan for a fully response to all circumstances that happen to the Escrow. It's the same to other ICOs. For ex, The Escrow suddenly disappears for some reasons, dev team will not able to receive their ICO However they should release the tokens as scheduled. That's unfortunate for Dev team. It's hard to happen but in the world of boomed ICOs, anything could happen.

Pioneer88

sr. member

Activity: 572

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: princessjenyz on August 27, 2016, 09:16:33 PM

Hi, Dev. Why is my pesobit amount decreasing every time the value of it increases? Can someone help me please to answer this question? Thanks.

Perhaps this is the first time you joining an ICO. Read previous posts for the answer.

bitwarrior

legendary

Activity: 1764

Merit: 1000

Quote from: chong_kee on August 27, 2016, 11:08:23 PM

Hi Lutzow/Dev team,

I see the potential and support the project. I have bought from the ICO, and will like to buy more but I have a couple additional questions:

1. Is there a minimum or target amount that needs to be raised for the ICO? Most crowdfunding will reimburse the investors through the escrow if this target is not met.

2. Just for contingency planning - is the escrow just a single individual? This is not a multisig setup right? If something happens (I do not wish any, just for sake of discussion) and we lose the holder of the private keys during the ICO period - what is your contingency plan for that?

Thank you.

Very good questions. I am also suggesting before releasing the wallet , there should undergo strict testing for usage and security issues that may arise. There have been an increase of altcoins with built in hidden premine and backdoor trojans or keyloggers that needs to be addressed when it comes for the pesobit wallet.

chong_kee

newbie

Activity: 16

Merit: 0

Hi Lutzow/Dev team,

I see the potential and support the project. I have bought from the ICO, and will like to buy more but I have a couple additional questions:

1. Is there a minimum or target amount that needs to be raised for the ICO? Most crowdfunding will reimburse the investors through the escrow if this target is not met.

2. Just for contingency planning - is the escrow just a single individual? This is not a multisig setup right? If something happens (I do not wish any, just for sake of discussion) and we lose the holder of the private keys during the ICO period - what is your contingency plan for that?

Thank you.

princessjenyz

full member

Activity: 546

Merit: 100

Hi, Dev. Why is my pesobit amount decreasing every time the value of it increases? Can someone help me please to answer this question? Thanks.

Isolani159

sr. member

Activity: 478

Merit: 252

Quote from: Pioneer88 on August 27, 2016, 07:55:12 PM

Quote from: Lutzow on August 27, 2016, 11:44:06 AM

Yes, there's a good price increase during the past 12 hours. It seems the final code for the PoSP adoption will be completed in 3-4 days. Once completed we can release the code in Github and submit them to the exchanges and blockexplorer. There's even a big chance that the online wallet could even be completed before the ICO ends this is so we can show to everyone what Pesobit is capable of

Github source code including all what you are doing is the best proof of work. You should present it soon. This is a boost for funding from investors.

Core Devs are doing their best to publish codes to Github next fex days. Investors will be able to test Pesobit soon.

Pioneer88

sr. member

Activity: 572

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: Lutzow on August 27, 2016, 11:44:06 AM

Yes, there's a good price increase during the past 12 hours. It seems the final code for the PoSP adoption will be completed in 3-4 days. Once completed we can release the code in Github and submit them to the exchanges and blockexplorer. There's even a big chance that the online wallet could even be completed before the ICO ends this is so we can show to everyone what Pesobit is capable of

Github source code including all what you are doing is the best proof of work. You should present it soon. This is a boost for funding from investors.

Lutzow

hero member

Activity: 728

Merit: 500

Quote from: Krista on August 27, 2016, 01:38:03 PM

What you have bounty campaign? Facebook campaign, news subscription?

We only have Signature and Twitter Campaigns. For News subscription, I'll have to see on that exactly. You can send me a PM then I can check what bounty can there be.

Quote from: doktor1897 on August 27, 2016, 01:32:53 PM

yes this is good news for us about pesobit . for accelerating and worked hard to source and github . we will wait for it in time. Grin

So far, things are working according to plan

Krista

sr. member

Activity: 463

Merit: 250

What you have bounty campaign? Facebook campaign, news subscription?

doktor1897

hero member

Activity: 882

Merit: 500

yes this is good news for us about pesobit . for accelerating and worked hard to source and github . we will wait for it in time. Grin

Lutzow

hero member

Activity: 728

Merit: 500

Yes, there's a good price increase during the past 12 hours. It seems the final code for the PoSP adoption will be completed in 3-4 days. Once completed we can release the code in Github and submit them to the exchanges and blockexplorer. There's even a big chance that the online wallet could even be completed before the ICO ends this is so we can show to everyone what Pesobit is capable of

Pioneer88

sr. member

Activity: 572

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Pesobit ICO has a good move today while gaining near 2btc after two quiet days. We see a lot of endeavors from Devs in publishing many useful guiding posts and release much updates.

Pioneer88

sr. member

Activity: 572

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: BossMacko on August 27, 2016, 07:38:05 AM

I just notice when the price of pesobit increase, the available balance of pesobit in my account also decrease. Why did the available balance decrease? Sorry for the question it is my first time to join and invest in ICO. If someone invested 0.01 Bitcoin and he get 8928.571 pesobit then when the time pesobit turns to 0.01 value then the available balance in his pesobit will turn to 1. is that normal?

The more fund is invested to ICO, the less number of Pesobit each investment will recieve because the total number of Pesobit for ICO (16mil) is not changed. You see your Pesobit balanc down because of the increasing in ICO fund.

BossMacko

hero member

Activity: 1134

Merit: 502

I just notice when the price of pesobit increase, the available balance of pesobit in my account also decrease. Why did the available balance decrease? Sorry for the question it is my first time to join and invest in ICO. If someone invested 0.01 Bitcoin and he get 8928.571 pesobit then when the time pesobit turns to 0.01 value then the available balance in his pesobit will turn to 1. is that normal?

Isolani159

sr. member

Activity: 478

Merit: 252

Quote from: Pioneer88 on August 27, 2016, 05:37:32 AM

Quote from: Isolani159 on August 27, 2016, 05:27:00 AM

Quote from: Pioneer88 on August 27, 2016, 05:23:46 AM

Quote from: Lutzow on August 27, 2016, 02:19:29 AM

Quote from: Isolani159 on August 27, 2016, 01:51:50 AM

Quote from: Pioneer88 on August 27, 2016, 01:42:08 AM

This means when two coins have their holder 100% run clients to stake, there won't be different. However this seems hard to become reality because there're a lot of coins stored in cold wallets, in exchanges' wallets...Then POSP staker will be more beneficial.
Another question: according to the explanation above, the less number of stakers (less network weigh) the more benefit for stakers themself. Is this true? If it's true. The network security will be harmfully affected.

That's true. However the network in PosP is more secure than in POS. This is demonstrated by the fact that the origin coin of POSP (CryptoBullion CBX) has achieved a good standing in cryptocurrency world with the most number of nodes comparing to other POS coins up to now.

And since the reward is higher if you have your wallet connected longer, people will Participate more in staking creating a bigger number of nodes and that's why CBX achieved that high number in nodes connected because of this which in turn making the network more secure.

When will wallet be available for download?

Block explorer will be available before the ICO ends. Wallets will be available after ICO. The situation could be changed based on the request from the community and investors.

According to the roadmap, in September, there will be Windows, MAC and Linux wallets, Web-based wallet, Block explorer, Remittance platform, Pesobit->Peso exchange site, Listing to exchanges. That's wonderful news and for any investor's expectation.

That's right. ICO fund has not been much yet however Pesobit's team members are doing their best to release all the roadmap's targets in time. The cooperation and relation to Filipinos Business Organization, Banks are also introduced in media.

Pioneer88

sr. member

Activity: 572

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: Isolani159 on August 27, 2016, 05:27:00 AM

Quote from: Pioneer88 on August 27, 2016, 05:23:46 AM

Quote from: Lutzow on August 27, 2016, 02:19:29 AM

Quote from: Isolani159 on August 27, 2016, 01:51:50 AM

Quote from: Pioneer88 on August 27, 2016, 01:42:08 AM

This means when two coins have their holder 100% run clients to stake, there won't be different. However this seems hard to become reality because there're a lot of coins stored in cold wallets, in exchanges' wallets...Then POSP staker will be more beneficial.
Another question: according to the explanation above, the less number of stakers (less network weigh) the more benefit for stakers themself. Is this true? If it's true. The network security will be harmfully affected.

That's true. However the network in PosP is more secure than in POS. This is demonstrated by the fact that the origin coin of POSP (CryptoBullion CBX) has achieved a good standing in cryptocurrency world with the most number of nodes comparing to other POS coins up to now.

And since the reward is higher if you have your wallet connected longer, people will Participate more in staking creating a bigger number of nodes and that's why CBX achieved that high number in nodes connected because of this which in turn making the network more secure.

When will wallet be available for download?

Block explorer will be available before the ICO ends. Wallets will be available after ICO. The situation could be changed based on the request from the community and investors.

According to the roadmap, in September, there will be Windows, MAC and Linux wallets, Web-based wallet, Block explorer, Remittance platform, Pesobit->Peso exchange site, Listing to exchanges. That's wonderful news and for any investor's expectation.

Isolani159

sr. member

Activity: 478

Merit: 252

Quote from: Pioneer88 on August 27, 2016, 05:23:46 AM

Quote from: Lutzow on August 27, 2016, 02:19:29 AM

Quote from: Isolani159 on August 27, 2016, 01:51:50 AM

Quote from: Pioneer88 on August 27, 2016, 01:42:08 AM

This means when two coins have their holder 100% run clients to stake, there won't be different. However this seems hard to become reality because there're a lot of coins stored in cold wallets, in exchanges' wallets...Then POSP staker will be more beneficial.
Another question: according to the explanation above, the less number of stakers (less network weigh) the more benefit for stakers themself. Is this true? If it's true. The network security will be harmfully affected.

That's true. However the network in PosP is more secure than in POS. This is demonstrated by the fact that the origin coin of POSP (CryptoBullion CBX) has achieved a good standing in cryptocurrency world with the most number of nodes comparing to other POS coins up to now.

And since the reward is higher if you have your wallet connected longer, people will Participate more in staking creating a bigger number of nodes and that's why CBX achieved that high number in nodes connected because of this which in turn making the network more secure.

When will wallet be available for download?

Block explorer will be available before the ICO ends. Wallets will be available after ICO. The situation could be changed based on the request from the community and investors.

Pioneer88

sr. member

Activity: 572

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: Lutzow on August 27, 2016, 02:19:29 AM

Quote from: Isolani159 on August 27, 2016, 01:51:50 AM

Quote from: Pioneer88 on August 27, 2016, 01:42:08 AM

This means when two coins have their holder 100% run clients to stake, there won't be different. However this seems hard to become reality because there're a lot of coins stored in cold wallets, in exchanges' wallets...Then POSP staker will be more beneficial.
Another question: according to the explanation above, the less number of stakers (less network weigh) the more benefit for stakers themself. Is this true? If it's true. The network security will be harmfully affected.

That's true. However the network in PosP is more secure than in POS. This is demonstrated by the fact that the origin coin of POSP (CryptoBullion CBX) has achieved a good standing in cryptocurrency world with the most number of nodes comparing to other POS coins up to now.

And since the reward is higher if you have your wallet connected longer, people will Participate more in staking creating a bigger number of nodes and that's why CBX achieved that high number in nodes connected because of this which in turn making the network more secure.

When will wallet be available for download?

Lutzow

hero member

Activity: 728

Merit: 500

Quote from: Isolani159 on August 27, 2016, 01:51:50 AM

Quote from: Pioneer88 on August 27, 2016, 01:42:08 AM

This means when two coins have their holder 100% run clients to stake, there won't be different. However this seems hard to become reality because there're a lot of coins stored in cold wallets, in exchanges' wallets...Then POSP staker will be more beneficial.
Another question: according to the explanation above, the less number of stakers (less network weigh) the more benefit for stakers themself. Is this true? If it's true. The network security will be harmfully affected.

That's true. However the network in PosP is more secure than in POS. This is demonstrated by the fact that the origin coin of POSP (CryptoBullion CBX) has achieved a good standing in cryptocurrency world with the most number of nodes comparing to other POS coins up to now.

And since the reward is higher if you have your wallet connected longer, people will Participate more in staking creating a bigger number of nodes and that's why CBX achieved that high number in nodes connected because of this which in turn making the network more secure.

Pioneer88

sr. member

Activity: 572

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: Isolani159 on August 27, 2016, 01:51:50 AM

Quote from: Pioneer88 on August 27, 2016, 01:42:08 AM

Quote from: Isolani159 on August 27, 2016, 01:29:37 AM

Quote from: Pioneer88 on August 27, 2016, 01:18:01 AM

Quote from: Digitalbitcoin on August 26, 2016, 10:58:20 PM

Pesobit is undergoing upgrade.

Pesobit will upgrade to a better form of Staking taken from Crypto Bullion (CBX) which is PoSP. It aims to reward holders as well as users having their wallets connected to the network for staking. Further explanation will be posted regarding PoSP or Proof-of-Stake Participation.

Pesobit announced it officially on twitter and facebook.

Lets hope soon will get wallet !

What is different between POS and POSP. Is PoSP really superior to PoS?
I'm rather familiar with PoS. There's not any problem that I face to. The profit is gainning when I stake for long time.

The interest reward in PoSP is variable based on the actual level of network securing participation (staking and minting) at any particular time and is designed to reallocate the reward from non-participating entities (not staking and minting) to those participants who are more deserving for providing the service of securing the network.

This means Network of PoSP coin will be more secure and holders will get more benefit.

Ex. You hold two coins (one PoS and one PoSP) that almost have all same features (algorithm, staking rate, max supply, network weigh...) for the same duration. You will get more coins from PoSP than PoS.

This means when two coins have their holder 100% run clients to stake, there won't be different. However this seems hard to become reality because there're a lot of coins stored in cold wallets, in exchanges' wallets...Then POSP staker will be more beneficial.
Another question: according to the explanation above, the less number of stakers (less network weigh) the more benefit for stakers themself. Is this true? If it's true. The network security will be harmfully affected.

That's true. However the network in PosP is more secure than in POS. This is demonstrated by the fact that the origin coin of POSP (CryptoBullion CBX) has achieved a good standing in cryptocurrency world with the most number of nodes comparing to other POS coins up to now.

That's great for Pesobit to be built with PoSP. I'm longing for Pesobit ICO ending, receive Pesobit and start staking Cheesy

.

Topic: [ANN][PSB] Pesobit, the currency for remittances and international cooperation - page 155. (Read 208468 times)