Topic: PIECOIN REBOOT - page 51. (Read 67009 times)

Staking wallets earn a reward as PIE is POS coin. Once total coin amount hits 84 million, staking reward drops to 0%.

So until we have everything running there is the staking reward. Then the transaction fee. 1% is standard. It is a fair return for providing the service of running the network. The value of PIEcoins themselves will increase with the hardcap.

In addition (if technically possible) we will implement a dedication of masternodes to new businesses. This means businesses requiring company formation (taxes) and hiring of staff etc. can be created by owners of masternodes and all transactions going through their dedicated "masternodes" are revenue for their business. Examples include exchange, merchant solutions etc. These are business opportunities that need to be run as such due to legal aspects alone and cannot be handled as a community solution. PIEcoin is the community.

To earn more running just a basic masternode we need to increase transaction volume (profit=1% X volume- costs).

We need to get PIE out to lots of people. We will implement the plan and help the community to grow.

how much is the block reward , do masternodes earn some percentage of the block reward because i think 1% from the transaction fee alone is low

You can check on the blockchain. Google for instructions.

  Ah ok Great guys hope so !! 

Yeah that's correct. Current supply is around 76 mil I believe and staking rewards will gradually decrease to 0% at 86 mil

Guys. This coin should be listed on Coinexchange.io. I think it would do really well there.

That's the old website. The total coin supply will be 84 million now from what I understand.

COIN SUPPLY (TOTAL) 400M on the website  ??

is anybody having the problem where the Mac Wallet isnt staying synced? I have to add nodes day or so, it just stops staking and syncing.

ok great! website, twitter and facebook will be done during july.

before reaching out to people wee need to have blockchain development cleared.

I'll help out on translations too if needed.
Filipino for Philippines
Also, if possible, a twitter campaign should run to increase awareness about the reboot and updates about PIE.
The more people getting engaged, the more people would help.
Joined the slack channel.

We could make Russian language the model for other languages. And then copy this process for other countries/languages:

- VK API (Russian Facebook) for the Android wallet
- A Facebook and Twitter account in Russian
- Website translated in Russian

Maybe you can then later present to friends in Russia and they get involved?

Template for development updates:

Blockchain

Masternodes will be implemented and the network address altered. Additional safety features such as one transaction at a time avoid double-spending problems. This safety feature is taken out of the blockchain transactions and placed into the wallet/masternode as a function of the blockchain. The wallet's send function is locked down until settlement of the current transaction is completed by the masternodes (settlement layer).

Status: Talks ongoing with blockchain programmers.
 
Android wallet

This will be developed on the Ionic/Copay opensource framework. When a user downloads the app they need to login using either a social media API (facebook, twitter etc. or email). This username then becomes their address on the blockchain. The app does not have the entire blockchain. It communicates with the masternodes only using very little power and memory of the phone. The user sends from phone-to-phone or -web, but the masternodes handle the transaction.

Status: Talks with member gbaeke will start tomorrow. His development team will then program the Android wallet.

PC wallets

Update with masternode functions which can be activated with 100,000 PIE each (an improved design would be nice later)

Status: This will probably be made a part of the blockchain programming.

Website

The domain piecoin.life reserved. A website will be built for PIEcoin and also a twitter account and Facebook page. These sites will reach out to new PIEcoin users, i.e. people who download the android app and purchase PIE. All sites can be copied in the languages which are translated and we cn hopefully get members (existing and new) to host updates in their language (answering question of users etc.) to promote PIE.

Status: Talks with community member tronquixote will start next week to make an implementation plan.

_______________________________________________________________________________ ________________________________

PIEcoin slack channel for development of PIE blockchain and wallets: https://join.slack.com/piecoin/shared_invite/MjA0MDQ5NDk4NjkwLTE0OTg1NTQ3MjItZDI3NGZiNTMxYw

PIEcoin whatsapp group for general discussion and investing:
https://chat.whatsapp.com/9xKByKFl0xgKWZXjJrT17v

Update:

I cancelled the job on Freelancer.com as it became apparent we can find a community solution. We have a blockchain programmer.

For web/graphic design we now also have a community member.

Vote for 100K

The new PIEcoin will have following features:

- Maximum amount of coins 84 million (staking rewards will then drop to 0% once this amount has been achieved)
- Masternodes 100,000 each (masternodes will then earn transaction fees of 1% as compensation for maintaining the network)
- The network address on the blockchain will be a social media username or email (people without technical understanding will be able to use PIE)
- There will be an Android wallet with simple functions (balance / send / receive / transaction history / contacts)
- The current PC wallets will be added with masternode functions (public keys required so the masternodes can be run on a server without the coins)
- Serve as a platform for new business models through the opensource APIs of social media networks etc. (open for innovation and new businesses)

The development at the current stage is divided into 3 interlocking steps or parts:

1. Blockchain: masternodes will be implemented and the network address altered. Additional safety features such as one transaction at a time avoid double-spending problems. This safety feature is taken out of the blockchain transactions and placed into the wallet/masternode as a function of the blockchain. The wallet's send function is locked down until settlement of the current transaction is completed by the masternodes (settlement layer).
 
2. Android wallet: This will be developed on the Ionic/Copay opensource framework. When a user downloads the app they need to login using either a social media API (facebook, twitter etc. or email). This username then becomes their address on the blockchain. The app does not have the entire blockchain. It communicates with the masternodes only using very little power and memory of the phone. The user sends from phone-to-phone or -web, but the masternodes handle the transaction.

3. PC wallets: Update with masternode functions which can be activated with 100,000 PIE each (an improved design would be nice later)
_______________________________________________________________________________ ___________________________________

How do we get there? Who implements the planned steps?

With the Android wallet we have found a community solution. A member has a team of mobile app programmers and we will start work on the specifications this week. It would be great if he provided his PIE address so people can donate to show appreciation and help make PIE succeed. You can also give me the addresses on slack and I will post them in status updates. Whatever is better.

For the blockchain programming I have received offers (for BTC), but I am hoping we could find a community solution for this also. If not I can set up
an escrow at Bitrated.com for example and we can gather donations to this account before proceeding.

The PC wallet would also be nice to do as a community solution. But it is perhaps best done together with the blockchain?  

Then there is also the website on piecoin.net or other domain. Here again a community solution would be best.

Then come the translations. The website is more work. The android wallet is just a few words on the app and then the download description + short story. At least Russian has been offered by a community member.

_______________________________________________________________________________ ___________________________________

The word community came up a lot.

We have a few new members over the last days and probably quite a few who have bought PIE as an investment. We will continue to grow and will get to know each other through the project.

To motivate these developments everyone who does work could present what they are doing and post their PIE address for donations. If someone needs help with English etc. please post on the slack. One programmer helped me understand some aspects on the PIE blockchain so I gave him 5000 PIE as a thankyou. We need to get the PIE moving!

I will be adding slack channel and whatsapp group on all posts from now on, so it is easier for new members to find them.
 
Feedback and discussion is welcome!

If you would like to support the work I am doing for the community, my PIE Address is: PApHqtQmeH9gm7MYoWT6dhovcVGSPcscFF

_______________________________________________________________________________ ___________________________________

PIEcoin slack channel: https://join.slack.com/piecoin/shared_invite/MjA0MDQ5NDk4NjkwLTE0OTg1NTQ3MjItZDI3NGZiNTMxYw
PIEcoin whatsapp group: https://chat.whatsapp.com/9xKByKFl0xgKWZXjJrT17v

84 Million sounds good

The total amount of coins is being capped at 84 million.

More information on other developments will be announced tomorrow.

I guess we can safely say that a majority votes for 100,000 for the masternodes.

So we will set it there. If anyone opposes please post.

Thankyou to everyone who voted!