https://hashtalk.org/topic/30380GAWCEO
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Small Update Part 2
Hello,
I wanted to provide a small update from snowy New England.
Current Development
We are all hands on desk for the Honors Program. Our developers are going to knock it out of the park. We realize how important it is that this program has a perfect launch. We have saved our resources to help re-stabilize the value of Paycoin.
The terms of the Program will be available when it launches. You will have 30 days to review.
We also have some small updates coming: graphs for the market place, etc
Primary Feature Status
The majority of the larger features are waiting on some type of regulatory or legal approval.
PaySave- Paycoin browser plug in
PayCard- Paycoin Debit Card
PayFlash- Instant Paycoin to Gift Cards
Just waiting on the green light from all departments.
Between the launch of these features and the Honors program, we are excited to see the value of Paycoin start to rapidly move.
Premier Accounts
Premier Accounts are in development, and we hope to roll out the first features to those accounts first.
Team Paycoin
Finally, we have been strengthening our relationship with Team Paycoin. I will not ruin the surprise, but they have some goodies coming that rival even our work
Translation:
We are trying to meet our self-imposed deadline for the Honors Program but likely the signup page will be late and buggy, plus we are wasting time implementing some features nobody asked for.
PaySave, PayCard, PayFlash - nothing going on here, since we have "all hands on desk" (sic) for the Honors Program and also due to our "complacency".
Paycoin value is "rapidly moving" in the wrong direction despite the buyback promise, but let's pretend that is actually a good thing.
We'll signup a few shill accounts with Premier and have them post exiting news about all the new features.
And since most of our developers left we are hoping Team Paycoin will save us from ourselves.
Knock it out of the park?? Did I miss something? Weren't the funds going to be handled by a 3rd party? If so, what is there to code?
To me this whole thing can be dealt with inside an Excel spreadsheet, customer A gets it's share of 56 over 1,000,000 (XPY proportion) of $100,000, do that for all the customers. Then:
$100,000 =
BTC378.4 right now
BTC378.4 / 1,000,000 XPY =
BTC0.0003784 per XPY
Customer A = 56XPY *
BTC0.0003784 =
BTC0.0211904
Repeat for all customers to get payments for everyone. Simple SQL Query, really basic stuff!
Make sure total doesn't exceed
BTC378.4, that no one is being payed 0, no one is being paid minus, that no one is being payed more than what should be the share of the biggest customer, insure that the number of customers is the same as last time, etc.
There's nothing magical about this and if they aren't handling the funds I really don't get what they are working on, a personal info input form for KYC, isn't that the responsibility of the third party?. If they are developing something it implies that they will know private keys and will be supporting it, we already know how good they are with the art of paying out people.. A pool software could manage this thing better than they could ever dream of doing!