Bitcoin Forum

I would like to introduce Phoenix Digital Currency.  Phoenix Digital Currency is an anonymous alternative to Bitcoin which has a fixed market valuation ($0.90-$1.10) and an intrinsic valuation of $1.  Unlike Bitcoin, whose valuation is variable, which makes it difficult for retailers to set consistent pricing, Phoenix Digital Currency's fixed valuation ensures retailers know ahead of time what to expect at the exchanges.  Phoenix Digital Currency also has a hybrid model to support real-time payments through the decentralisation of prepaid card processing.  Our hope here is to create millions of jobs worldwide, with people like you processing payments for up to 500 people.  With an average spend of $1000 per month, for which you charge a fixed 3% fee, everyone can expect a return of around $180000 per year.  Phoenix Digital Currency will find a home as an alternative to SWIFT and other forms of international transfer systems.  It will also find a home as a place to park capital away from all forms of risk.  While Phoenix Digital Currency is completely anonymous, it does have the ability to recover coins which are stolen, making it one of the most secure networks in the world.

Just like Bitcoin, Phoenix Digital Currency is an open peer-to-peer network with a client anyone can download.  We have developed our own open-source technology which will be made available on Github in the next several week.  Our network layer is built upon AMQP 0.9.1 providing extremely high throughput for transaction processing and the ability to scale from a single box solution to multiple data centres, all without any code changes.  We support escrow and multisig as well.  Powering all of this is our open-source, cross-OS library, called LibPhoenix.  LibPhoenix is an all in one solution which allows the rapid creation of digital currency, in-app currencies, exchanges, online wallets, payment processors, etc.  Further LibPhoenix has been designed with enterprise in mind, providing simple things like centralisation of data and wallets in an internal network, edge architectures for single point downloading of blocks and transactions.  We paid attention to the issues people reported when using Bitcoin and rolled those solutions into Phoenix Digital Currency.

As part of our launch we're creating a $10 billion block which will be sold at a fixed rate of $0.80.  This is to permit people to buy in quickly, provide currency to exchanges without upfront costs, etc.  Its not quite an ICO, because speculation has limited ability to drive up value, however, there is an opportunity here to make up to 30% which still makes its larger than any current ICO.

On the issue of smart contracts, our main blockchain does not support this.  Our main blockchain is for financial transactions.  We are currently exploring the ability to create blockchains dedicated to the task of smart contracts which can be shared across the web between groups.  Our AMQP network layer also provides the ability for these smart contract blockchains to operate in their own private networks, or be openly accessible.  We think this is a more pragmatic solution where confidentiality must exist.

We have only been online less than a week at this point, we have our website , Twitter and Facebook up.  We haven't done a lot of advertising at this point as we're focused on delivering the software.  At this stage, we'd invite you to join us and perhaps even pitch in if possible.  Here are our links:

http://phoenixdigitalcurrency.com/
https://twitter.com/DcPhoenix
https://www.facebook.com/phoenixdigitalcurrency/
https://www.facebook.com/groups/1931326547144103 - Facebook Group: Join this to get the latest info

I like it! The penguin made me laugh.

Need a Dutch translation of your announcement?

We'll require every bit of assistance we can get going forward.  Check out our page on the steering group for Phoenix Digital Currency, paid positions will be made available in time.

http://phoenixdigitalcurrency.com/aboutus

I read that part too. Submitted.

Considering your newbie status you're not able post colorful announcements. Should you want that tho, let me know and I'll post it for you.

not explain spefication coin this thread dev
and phoenix digital currency plan open ico selling or not

Great, we'll be in contact soon.  I'm not sure what a colorful announcement is in the context of this forum, but it sounds good, so go for it.  Thanks.  As an open peer-to-peer network, its just like Bitcoin in that we hope the community that evolves around it will take the ball and run with it.  At phoenixdigitalcurrency.com, the steering group will be responsible for management of the brand IP, but that's just a nuclear option should anything which could damage the network emerge.  Hopefully, it will be rarely used, I'd much rather see people buy into this as a way to change their local communities and improve their businesses.  I personally don't like the scammy nature of much of the Finance world and one of the primary goals of Phoenix Digital Currency is to clean that up and keep it clean.

The full specification will be explained fairly soon.  That will come as we're uploading the client and LibPhoenix to Github sometime over the course of the next few weeks.  Its fairly similar to Bitcoin, although I've overhauled everything from the proof-of-work, to Merkle trees.  It uses Quad SHA512 nearly everywhere and there is also a custom hashing algorithm I wrote called InfiniHash in there.  Although, at this stage, InfiniHash isn't actually used for anything, as I want it examined by the crypto community first.  We also use a slightly different paradigm than most cryptocurrencies of coins and denominations, this improves anonymity by making blockchain analysis fairly impossible.

As for an ICO, we will be offering a $10 billion block at the reduced rate of $0.80.  There is the potential to make up to 30% on purchases made from this block.  As exchanges come online, the minimum purchase amount from this will be increased to permit the exchanges to grow. So, while not exactly an ICO, it is roughly similar to a $3 billion ICO.

Colorful like your website, with pictures of the aspirational (and awesome) penguin, pictogram-links and such. You cannot post those yet. I sadly do not have time right now to hobby this into bbcode for you but when you do, I'll edit my first post to fit in in there.

Ok, thanks.  I like the little Penguin.  He started out life as an actual Phoenix, but due to fact that I can't draw I ended up with a Penguin that made me laugh.  But it grew on me and I decided to use it.  I think it is distinctive and captures the spirit behind the organisation quite well.

To many project on this jully
May this project will not success, They just carelessly make the project, who will invest in a project like this?

From a technical and economic perspective, this outperforms anything which is currently available.  It also aligns better with business use cases.  It basically takes Bitcoin and corrects all the various issues it has.  The big selling point is that it is safer than the banks for long term capital storage.

Phoenix Digital Currency should dominate the global market over the next decade.

If anyone wants to help out, please let us know.  Join our Facebook group, or signup at our AboutUs page on our website.  We're looking for a wide range of people and skills, from developers, to experts in fintech and legal.

It's a good logo and may well be more brilliant then you ever intended it to be.

I think that also.  Its simple, easily recognisable and it does stand out.  I've seen it mixed with hundreds of other logos now on various platforms and its fairly easy to pick it out of the crowd.  Going forward, there is plenty of room to play with that design and even build a broader identity for the penguin itself.  Its certainly something that can be brought to life and provided a back story and general personality.  Its all about getting creative here.  There is even the potential for cuddly toys, etc.

Logo used for a project. Is a good project hanging from a good logo ....

So basically: Not an ICO, but hey; I'm premining 10 Billion (theoretical USD) worth of coins and you fools are welcome buy it from me for 8 Billion.  ::)

There are idiots, and then there are Idiots!

Nowadays people only spend time making announcements, even though they already know that their project will not be successful, and only really serious projects can succeed

Decide for yourself:
http://fortune.com/2017/06/16/business-logos-evolution-importance/ (http://fortune.com/2017/06/16/business-logos-evolution-importance/)

I do not understand what is the use of the project since we are discussing the same project here?

If this were a commercial enterprise, I'd be right there with you in that statement.  However, this is an open peer-to-peer network with a fully functional global payment system.  There is a tangible product, it simply needs to be used to work.  Ultimately, this pre-mined block can't be translated into hard cash without the network having demand.  No one would buy it if it can't be used.  Further, this capital is used by the steering group and to supply exchanges, its not like its all going into someone's pocket.

So, while I can see where you are coming from on this, its not applicable in this instance.

True.  I develop large scale systems for enterprises and when I designed this, I designed it with large companies in mind.  I know how their internal networks usually work, what way admins like to have things and how security guys will want to secure things.  I built this all into the software from the start, including resolving all the issues that personally found with Bitcoin integrations.

So, LibPhoenix is about as serious as it gets from a technical viewpoint.  When placed side-by-side with something like Bitcoin, it does kind of make Bitcoin look like a hobby effort.

I should point out that LibPhoenix is built upon a micro-service worker process model reading and writing to high performance AMQP message brokers.  This software can seriously scale, its pretty much the same stuff used in stock exchanges.  I think currently Bitcoin does about 3 transactions per second, with the ability to scale to about 56000 transactions per second.  I put this codebase through its paces on a single laptop and was able to blow right past 14000 messages per second.

https://en.bitcoin.it/wiki/Scalability
https://www.amqp.org/resources/financial-services

It will easily outperform Bitcoin in terms of scaling.  It is designed to power a global economy.

I'll add one more thing to this would should clear up any misconceptions.  We're using RabbitMQ as the message broker, this is what it can do:

RabbitMQ Hits One Million Messages Per Second on Google Compute Engine
https://content.pivotal.io/blog/rabbitmq-hits-one-million-messages-per-second-on-google-compute-engine

LibPhoenix, Phoenix Core client and Phoenix Digital Currency is a high-end professional product.  Really state of the art stuff.

How is this not a commercial enterprise in a very basic way? You make X that has inherently no value. You then sell X for useable money on the promise that the buyers can "make" value by using the platform that X was built for. Now whether this useable money is going into someone's pocket or to the "steering group" really makes no difference. End of the day, 10 Billion (potential) worth of tokens/coins is going to be held by you.... like DeBeers holding on to the world's supply of diamonds in their basement.

Each time someone buys the tokens, you make money in USD. What sane business is going to accept those terms and agree to give value to such an idea in exchange for their goods and services? If fact, save for the tech, how is it fundamentally different from Fiat USD we currently have? And even at that, it took what... three hundred and fifty years to transition from real gold deposit receipts to printed-because-my-dad-owns-the-printer style fiat currency? You think bitcoin would have any value if it was an item that you could purchase from their website? Because you know... in that parallel universe, they have the world's supply of bitcoin, and any bitcoin released into the world is a direct translation of USD getting deposited into their bank accounts?

This one is interesting how far this one will go.
I'll bookmark so I'll be updated for its progress.  ;D

Is this easy money market with many ICO recently?
I'm not sure...

Its not a company, or even a corporation.  It is open-source software.  The function of the steering group is to resolve issues which emerge over time.  Think of them as a tech support and they're job is to ensure the network does not centralise and eventually hand it over into the public domain.

I do see your point, but I also feel that you are failing to look at this correctly.  The value comes from being able to send up to $10 million USD anywhere in the world for about 1 cent.  Bitcoin will cost about $1-$1.50 per transaction, an ATM will cost anywhere $4 and $8 for transactions under $1000.  SWIFT will cost you up to 25% in some cases.  In terms of costs, we're at least two orders of magnitude lower than the competition and everyone is insulated from market valuation crashes whilst in the network.  So, yes, business will use it, as it makes business sense.

It doesn't really matter where it comes from, its whether or not it resolves a business need and can function.  Phoenix Digital Currency does both.

For me, its not about the ICO.  Its about providing a product that people can use.  If I wanted an ICO, I could have just set up a useless coin on Ethereum and cashed in that way.  I've actually designed a pretty good international and point-of-sale payment solution.

How am I failing to look at this correctly? To make it simpler to deconstruct, It would be great if you would not use the Phoenix digital Currency (can we just call it PDC for now?) interchangeably with USD? Unless you are also implying that PDC can be sold back to you for USD in return? So people buy PDC from you, transfer whatever PDC they want for 1 cent, then exchange back to USD again from you? How does that work without any transaction fee or bank charges? Or is it a one way transaction where PDC cannot be converted back to USD, without bringing in the BTC volatility as the intermediary currency? I also don't understand where the Exchanges come into play here if you are pegging PDC to USD and not BTC. So essentially they become a one way transaction outlet to purchase PDC at a fixed cost? Using USDT I assume? And the Exchanges would transfer the proceeds to you? How does one go about converting their PDC back to their local fiat currency if needed?

Unless the USD falls below a certain value, they are interchangeable due to the pegging.  I'm not an exchange, or a brokerage, I'm the lead developer.  I think you are confusing block rewards, the role of exchanges and brokerages with the initial pre-mined block. The initial pre-mined block is just to get the ball rolling, after that the network produces capacity based upon demand from the exchanges.  Further, this pre-mined block doesn't compete with the exchanges as the minimum purchasable block is always set above what the exchanges can provide.  Finally, exchange fees and transfer fees are not the same thing.

Its pretty much the same as Bitcoin in this regards.

So dev, how's the project?

Seems a bit too quiet in here, would a shame to let this go to waste.


No news, updates?

Hey dev, bring some news to the forum as well, let people here know about the prepay cards.

And the penguin too, we all miss the penguin!

Is there a whitepaper? You are making big scalability claims and I have a feeling this isnt much of a decentralized blockchain.

I do not see in one page about a whitepaper and still no updates by OP
We dont understand this project, need more information about that. Op is not active yet a few month.