[PROC]-ProCurrency-| Pro Rewards |~ V1.3.6 BR - Minimum Version - page 64.

Cent21

hero member

Activity: 1442

Merit: 578

Quote from: Ucuper on March 04, 2017, 02:12:04 PM

I'm not participants of ProCommerce ico, but may I know... where approximately PROC will be listed?
Th!

That's what a lot of people are wondering. Unfortunately exchanges where PROC will be traded are still unknown. We have to wait for news from Patriarch, as ICO is already ended since a few days.

I hope do have news about this soon.

Have a nice day.

Ucuper

newbie

Activity: 33

Merit: 0

I'm not participants of ProCommerce ico, but may I know... where approximately PROC will be listed?
Th!

Doddolo

sr. member

Activity: 586

Merit: 250

I've removed signature and avatar.

Thanks Patriarch and keep working to get exchanges and wallet.

marketingtiger

member

Activity: 69

Merit: 10

Creating problems where none exist does not make those mind-created problems real. It is going to take more than *worry* to make problems real objectively. Facts over feelings. The fact is no dumping of PRO (coin) has occurred; no evidence of PRO (team) dumping anything. There is nothing real to worry about. It is clear in PRO's (team) white paper that PRO's (coin) usability matters more to PRO (team) than investors' fears, in my opinion.

-mt

jamalaezaz

copper member

Activity: 1876

Merit: 533

Quote from: drays on March 04, 2017, 09:34:28 AM

Quote from: blocks.explorer on March 04, 2017, 06:06:23 AM

How much of the 15 billion coins are unsold? So community knows the number of the 25% going to devs pockets.

As the coin price was changing, and it was in USD, only the Devs could tell the exact amount.

However we can make some estimates. According to my calculations, the possible absolute maximum of sold coins could be 3-5 millions (70.5 BTC * $1000 / $0.02). More realistic estimation is 2-3 million coins, but you will see that doesnt matter, lets take the absolute maximum for sake of simplicity.

So the sold coins are 5,000,000, and unsold ones - around 14,995,000,000 Grin

25% of 14,995,000,000 is 3,748,750,000.

And now the result:
all ICO participants have less than 5M coins altogether, dev has 3748M at his sole disposal (NOT protected by escrows!).

Now folks, do a small excercise - compare 5 millions to 3.75 billions!!! I am afraid there wont be enough buy orders even at 1 satoshi level to accomodate this epic dump Shocked

Hilarrious Grin

but it is just you own thinking and concern.. it is also possible that the dev may not dump their coins. if they are honest and really want to do business than they will not dump the coins.. by dumping coins they may get some btc. but if they work honestly. they'll earn 100 time more profit.

blocks.explorer

sr. member

Activity: 473

Merit: 250

Quote from: drays on March 04, 2017, 09:34:28 AM

Quote from: blocks.explorer on March 04, 2017, 06:06:23 AM

How much of the 15 billion coins are unsold? So community knows the number of the 25% going to devs pockets.

As the coin price was changing, and it was in USD, only the Devs could tell the exact amount.

However we can make some estimates. According to my calculations, the possible absolute maximum of sold coins could be 3-5 millions (70.5 BTC * $1000 / $0.02). More realistic estimation is 2-3 million coins, but you will see that doesnt matter, lets take the absolute maximum for sake of simplicity.

So the sold coins are 5,000,000, and unsold ones - around 14,995,000,000 Grin

25% of 14,995,000,000 is 3,748,750,000.

And now the result:
all ICO participants have less than 5M coins altogether, dev has 3748M at his sole disposal (NOT protected by escrows!).

Now folks, do a small excercise - compare 5 millions to 3.75 billions!!! I am afraid there wont be enough buy orders even at 1 satoshi level to accomodate this epic dump Shocked

Hilarrious Grin

This is what I am worry about. Available coins in the hands of investors is very very small percentage compared to what the developers hold, ready for dumping. If this hits exchanges, and you see the available coins on the sell side is >3-5 million, you know where it is from.

marketingtiger

member

Activity: 69

Merit: 10

Quote from: drays on March 04, 2017, 09:34:28 AM

Quote from: blocks.explorer on March 04, 2017, 06:06:23 AM

How much of the 15 billion coins are unsold? So community knows the number of the 25% going to devs pockets.

As the coin price was changing, and it was in USD, only the Devs could tell the exact amount.

However we can make some estimates. According to my calculations, the possible absolute maximum of sold coins could be 3-5 millions (70.5 BTC * $1000 / $0.02). More realistic estimation is 2-3 million coins, but you will see that doesnt matter, lets take the absolute maximum for sake of simplicity.

So the sold coins are 5,000,000, and unsold ones - around 14,995,000,000 Grin

25% of 14,995,000,000 is 3,748,750,000.

And now the result:
all ICO participants have less than 5M coins altogether, dev has 3748M at his sole disposal (NOT protected by escrows!).

Now folks, do a small excercise - compare 5 millions to 3.75 billions!!! I am afraid there wont be enough buy orders even at 1 satoshi level to accomodate this epic dump Shocked

Hilarrious Grin

Interesting. Those estimates are solely based on the ICO. Though I suspect there is more than meets the eye. Wink

I like the math, though, but PRO (team) is smarter than this good math. Grin

I have a feeling that the number may climb to 200,000,000 coins by summer Tongue

(says, the swami).

-mt

marketingtiger

member

Activity: 69

Merit: 10

Quote from: DonApp on March 04, 2017, 03:20:05 AM

Exactly! And as i have posted here before, those 25% coins can be used to give 'rebates' from merchants which are actually not participating in this project. After 7 days everything will look allright and hence the escrows will release the funds, while the project actually does not have merchants integrated. This might turn out to be a big dissapointment for a lot of people...

Strange that the app and coins are not released yet, i thought the app was already developed before/during ICO?

There is a difference between those retailers (merchants) integrated already (e.g., chain stores) and the retailers (merchants) to be integrated (e.g., local stores), yes?

-mt

drays

legendary

Activity: 2576

Merit: 1073

Quote from: blocks.explorer on March 04, 2017, 06:06:23 AM

How much of the 15 billion coins are unsold? So community knows the number of the 25% going to devs pockets.

As the coin price was changing, and it was in USD, only the Devs could tell the exact amount.

However we can make some estimates. According to my calculations, the possible absolute maximum of sold coins could be 3-5 millions (70.5 BTC * $1000 / $0.02). More realistic estimation is 2-3 million coins, but you will see that doesnt matter, lets take the absolute maximum for sake of simplicity.

So the sold coins are 5,000,000, and unsold ones - around 14,995,000,000 Grin

25% of 14,995,000,000 is 3,748,750,000.

And now the result:
all ICO participants have less than 5M coins altogether, dev has 3748M at his sole disposal (NOT protected by escrows!).

Now folks, do a small excercise - compare 5 millions to 3.75 billions!!! I am afraid there wont be enough buy orders even at 1 satoshi level to accomodate this epic dump Shocked

Hilarrious Grin

menace.bit

sr. member

Activity: 457

Merit: 250

Generation Blockchain.

Quote from: Patriarch on March 01, 2017, 07:05:45 PM

UPDATE:

In appreciation to all who supported and all the people that participated in our ICO.
We established that in order to be fair to all the people that supported and collaborated. We will match a 2% instead of 1% of total sold coins and reserved them for bounties. This will only apply to bounties and all other reserved coin percentages will remain the same.
Once again we would like to thank each and every one of you that participated and supported us in this ICO.
We would also like to Officially release our UNSOLD Coin Escrow Agreement, it will compromise of Lauda and Minerjones as well as Irving and I. Escrow agreement can be seen here;
https://www.procommerce.io/static/site/img/PRO_unsold_coin_scrow_agreement.pdf

Lauda and Minerjones will confirm.
We will be rolling out a series of updates as we get closer to distribution day.
Signatures can now be officially taken off. Thank you for your support!

Best regards,
Carlos Contreras

when will be the distribution of ICO tokens for investors? Also for the bounties - and when will the calculation be published?

Sharma

legendary

Activity: 1092

Merit: 1000

GATCOIN : The New Currency Of Digital Marketing

Do we need to download the wallet to receive bounty or can it be received at ico dashboard and later moved to wallet?

blocks.explorer

sr. member

Activity: 473

Merit: 250

How much of the 15 billion coins are unsold? So community knows the number of the 25% going to devs pockets.

DonApp

sr. member

Activity: 275

Merit: 250

Quote from: drays on March 03, 2017, 03:36:05 PM

I wonder why Lauda and MinerJones risk their reputation on this scam. Wasn't it enough of a lesson with Ascendancy..?

Have anyone read the Escrow agreement?
https://www.procommerce.io/static/site/img/PRO_unsold_coin_scrow_agreement.pdf

Note this part:

Quote

When the PRO Coins are premined. 75% of all unsold coins will be held in an Electrum based
multisig wallet.

Only 75% of unsold coins are kept in Escrow. The rest 25% are exclusively controlled by Devs. And those 25% is a HUGE amount, orders of magnitude bigger than the total number of ICO coins.
It offers a great dump on you folks!

Exactly! And as i have posted here before, those 25% coins can be used to give 'rebates' from merchants which are actually not participating in this project. After 7 days everything will look allright and hence the escrows will release the funds, while the project actually does not have merchants integrated. This might turn out to be a big dissapointment for a lot of people...

Strange that the app and coins are not released yet, i thought the app was already developed before/during ICO?

marketingtiger

member

Activity: 69

Merit: 10

What is going on here? What is "going to be" a scam does not mean "it is a scam". Why is everyone so nervous? PRO (coin) is a retail project. As soon as I <--- can add merchants to this product I will onboard hundreds of merchants. I believe PRO's (company) retail stance is exciting.

-mt

drays

legendary

Activity: 2576

Merit: 1073

Quote from: Patriarch on March 03, 2017, 04:07:08 PM

Quote from: drays on March 03, 2017, 03:36:05 PM

I wonder why Lauda and MinerJones risk their reputation on this scam. Wasn't it enough of a lesson with Ascendancy..?

Have anyone read the Escrow agreement?
https://www.procommerce.io/static/site/img/PRO_unsold_coin_scrow_agreement.pdf

Note this part:

Quote

When the PRO Coins are premined. 75% of all unsold coins will be held in an Electrum based
multisig wallet.

Only 75% of unsold coins are kept in Escrow. The rest 25% are exclusively controlled by Devs. And those 25% is a HUGE amount, orders of magnitude bigger than the total number of ICO coins.
It offers a great dump on you folks!

Please refer to ANN for your question.
Those are being used by the reward APP.

Kind regards,
Patriarch.

"being used by the reward APP" == "at full disposal of Devs". So Devs can dump them at any moment.

I have an offer: let those funds be escrowed too. They can be released by escrows in small amounts (1%) every month. Why not?
If that is done, then the project looks not so bad. If it is ignored, then I am sure this is going to be a Scam.

EDIT: as the unsold coins number is 1000x bigger than sold coins number, even 1% per month is way too much. Should be 0.01% per month maximum.

SeeTheThangIs

newbie

Activity: 9

Merit: 0

Quote from: Patriarch on March 03, 2017, 04:07:08 PM

Quote from: drays on March 03, 2017, 03:36:05 PM

I wonder why Lauda and MinerJones risk their reputation on this scam. Wasn't it enough of a lesson with Ascendancy..?

Have anyone read the Escrow agreement?
https://www.procommerce.io/static/site/img/PRO_unsold_coin_scrow_agreement.pdf

Note this part:

Quote

When the PRO Coins are premined. 75% of all unsold coins will be held in an Electrum based
multisig wallet.

Only 75% of unsold coins are kept in Escrow. The rest 25% are exclusively controlled by Devs. And those 25% is a HUGE amount, orders of magnitude bigger than the total number of ICO coins.
It offers a great dump on you folks!

Please refer to ANN for your question.
Those are being used by the reward APP.

Kind regards,
Patriarch.

...so about this Rebate Rewards APP that was guaranteed upon ICO completion...what's the status so we can check this thing out please? I swear it used be listed on the "Timeline" portion of your site...but now it only shows the other 3 APPs. Your site procommerce.io shows (in the Phases portion) the Rewards APP being "released at launch" which was Feb 28th if I'm not mistaken right?

Are the original escrow holders going to release the funds regardless of this Rebate APP being completed and functional Huh

Can anyone post the original escrow agreement please? It's not listed on the procommerce site

regards

Patriarch

sr. member

Activity: 347

Merit: 258

Founder of PROCOMMERCE.IO

Quote from: drays on March 03, 2017, 03:36:05 PM

I wonder why Lauda and MinerJones risk their reputation on this scam. Wasn't it enough of a lesson with Ascendancy..?

Have anyone read the Escrow agreement?
https://www.procommerce.io/static/site/img/PRO_unsold_coin_scrow_agreement.pdf

Note this part:

Quote

When the PRO Coins are premined. 75% of all unsold coins will be held in an Electrum based
multisig wallet.

Only 75% of unsold coins are kept in Escrow. The rest 25% are exclusively controlled by Devs. And those 25% is a HUGE amount, orders of magnitude bigger than the total number of ICO coins.
It offers a great dump on you folks!

Please refer to ANN for your question.
Those are being used by the reward APP.

Kind regards,
Patriarch.

drays

legendary

Activity: 2576

Merit: 1073

I wonder why Lauda and MinerJones risk their reputation on this scam. Wasn't it enough of a lesson with Ascendancy..?

Have anyone read the Escrow agreement?
https://www.procommerce.io/static/site/img/PRO_unsold_coin_scrow_agreement.pdf

Note this part:

Quote

When the PRO Coins are premined. 75% of all unsold coins will be held in an Electrum based
multisig wallet.

Only 75% of unsold coins are kept in Escrow. The rest 25% are exclusively controlled by Devs. And those 25% is a HUGE amount, orders of magnitude bigger than the total number of ICO coins.
It offers a great dump on you folks!

PolyPanto

sr. member

Activity: 854

Merit: 398

Quote from: Patriarch on March 01, 2017, 07:05:45 PM

UPDATE:

In appreciation to all who supported and all the people that participated in our ICO.
We established that in order to be fair to all the people that supported and collaborated. We will match a 2% instead of 1% of total sold coins and reserved them for bounties. This will only apply to bounties and all other reserved coin percentages will remain the same.
Once again we would like to thank each and every one of you that participated and supported us in this ICO.
We would also like to Officially release our UNSOLD Coin Escrow Agreement, it will compromise of Lauda and Minerjones as well as Irving and I. Escrow agreement can be seen here;
https://www.procommerce.io/static/site/img/PRO_unsold_coin_scrow_agreement.pdf

Lauda and Minerjones will confirm.
We will be rolling out a series of updates as we get closer to distribution day.
Signatures can now be officially taken off. Thank you for your support!

Best regards,
Carlos Contreras

Wow, great news @Patriarch! Thank you! I will observe and continue to support your project! Good luck!

Patriarch

sr. member

Activity: 347

Merit: 258

Founder of PROCOMMERCE.IO

Quote from: blocks.explorer on March 02, 2017, 06:22:57 PM

Quote from: Patriarch on March 01, 2017, 07:05:45 PM

UPDATE:

In appreciation to all who supported and all the people that participated in our ICO.
We established that in order to be fair to all the people that supported and collaborated. We will match a 2% instead of 1% of total sold coins and reserved them for bounties. This will only apply to bounties and all other reserved coin percentages will remain the same.
Once again we would like to thank each and every one of you that participated and supported us in this ICO.
We would also like to Officially release our UNSOLD Coin Escrow Agreement, it will compromise of Lauda and Minerjones as well as Irving and I. Escrow agreement can be seen here;
https://www.procommerce.io/static/site/img/PRO_unsold_coin_scrow_agreement.pdf

Lauda and Minerjones will confirm.
We will be rolling out a series of updates as we get closer to distribution day.
Signatures can now be officially taken off. Thank you for your support!

Best regards,
Carlos Contreras

For the unsold coins, when a milestone is reached and coins are released, what does it mean? Is it released to the dev team to be dumped in exchanges or released to community or used in the apps?

They will be used strictly by the App.
Thank you.

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