If you buy something with them and it ships, you're good. Until then though, you're always liable to get screwed.

I love stuff like this. This is what bitcoin is all about.

We're doing some marketing stuff, mostly reaching out to people who may have an interest in spreading publicity, but we do acknowledge it has been going slow, though buying has been strong at the 1 satoshi point. Doesn't take much to jump back up - it looks like we are going to have to stick to a few satoshis for a little while before we can get on a major exchange.

Don't worry, we're not going anywhere.


Talking to Bter, we'll get on their voting thread any day. Please do recommend piCoin though, it will help expedite the process: https://bitcointalk.org/index.php?topic=502363.660

We're hoping that as Mintpal voting gains momentum they will add us, though we have nothing concrete right now other than votes.

We recently contacted Poloniex and are waiting to hear a response.

We're sorry to see what happened with Coinader and hope they didn't literally run away with users' BTC. For the record, they were never paid any sort of bounty or recruited - they added piCoin and we followed suit by adding them to the main post. We have removed them from the main post and it will stay that way unless they pay back all the BTC they now owe.

We have added recommended tags to 3 of the top pools that we think are the most stable currently (this is just based on what we have read during the past couple of pages).

Price on the exchanges is so-so right now of course, but we're putting a plan into action to increase traction and actual damage. As a beneficial side effect, prices will go up, up, up. We understand users' hesitancy to add BTC to exchanges that are not very well known and feel that this is partially responsible for the low price on exchanges right now.

This plan has a few phases. Phase 1 will be removing extra supply (we're halting our FB/Twitter giveaway) so as to not hurt the price. Phase 2 is adding enough value to gain enough momentum to get on more widely used exchanges. This means services, games, payment options, and giveaways that help the price instead of hurt it. Phase 3 will be about globalization and offline expansion.

Speaking of services and games, we have hosting and pidice.com available for free use to any gambling game developer who is interested in taking up the project of creating a piCoin dice site. Interested? Post here and/or send us a PM.

There are a few reasons for the low price.

1. There is always some risk when putting your money on an exchange. Now, we have nothing but great things to say about all exchanges that list piCoin so far, but a lot of members are naturally weary of these mid-tier exchanges. As a result, people are not comfortable putting bitcoin on the exchange. They're more than comfortable with selling the latest coin though, because the value is still uncertain and they're less attached to it.

2. Giveaways can sometimes hurt the price, especially so when one of the giveaways is on one of the first exchanges. Check all the exchanges - the price varies.

3. It really just got on the exchanges so fast. There wasn't enough time for enough demand to build. However, price will go up as the demand increases.

There have been very few articles about piCoin. All it takes is one article on a larger newssite and we're out of this hole.

Update Cancellation

We have decided to cancel this update. We feel it's in the best interest of this coin to not make the changes in the update. For right now we will be leaving the coin as is.

We apologize if this caused anyone any inconvenience.

We're sending out emails this evening to several of these exchanges so if they decide we're a good fit for their exchange we may be on one of the CoinWarz "certified" exchanges sometime soon. CoinWarz isn't always the greatest thing for a coin as multipools are always selling (and hence buying has to keep up), but it's a natural step in progression that every coin has to go through as it rises to the top.

Update will go live tomorrow at 16:00 UTC.

We actually have some pretty good news. Obviously the update but also a new piCoin dice site launching this week according to the owners of the site. We got on exchanges way faster than most coins, so it can be hard for the buying demand to keep up in the beginning with the selling demand. This sort of thing is what increases buying demand, which is important on the journey to real world popularity.

Turrific (), main post updated. Please try and keep it updated, answer any questions if possible, and post it on the piCoinTalk forum.

Thank you - bounty has been sent.

Block times are on the longer side and a lot of the pools take up to 120 blocks to confirm.

We're glad to now be on another exchange, AGX.io! They are a registered corporation in Delaware (United States).

Also, check out Just an Arcade's 35K piCoin contest. The user to get the highest score by 11:00 AM EST on Tuesday in "Mad Pixel Run 2" will win 20,000 piCoins. It's a fun game and very addicting.

The first piCoin faucet is now funded and running.

Sumpool has showed us a screenshot with proof of payments. We have not checked each individual transaction, but are assuming it is true and accurate. We will be paying them out their bounty today unless anyone still objects (qumatru, have you received your coins?).

Update Pre-announcement

We are releasing an update. This update will change the block retarget rate from every block to every 50 blocks. This should prevent the difficulty from jumping around constantly by such large margins. This update will be mandatory.

We're finalizing the time to implement this update but it should be 14 -36 hours from now - we will post a notification on here and Twitter/Facebook a few hours in advance.

That is not the coin featured in this thread. It has a different purpose (acting as a futures market) and is not the coin that is trading on NXT-e, Coinader, and PMtoCoins.com. Please remove this link as soon as possible so as not to confuse anyone.

If you wish to repost your referral link please do so in the appropriate coin's thread. Thank you.


It depends whether they're set at 120 confirmations or if they lowered it like many of the pools did. Confirmationing mined coins does take awhile - I'd give it more time.

Glad to see sumpool paying out. Once a couple more people confirm we will remove the warning from the main post and send them their bounty along with all the other bounties we are sending out over the next 48 hours.

True, we understand your point. It's important that we keep piCoin profitable to mine while also spreading it around and rewarding people who contribute.

The price only goes down if people who are rewarded coins sell. Slowing down a little is something we will consider to avoid hurting the price.


We're well aware that things are a little erratic. However, not everyone on our team is in agreement about what exactly the issue is or even if there is an issue. As such, we have reached out to a couple reputable coin developers to provide some oversight and work on an update to make things a little more consistent.

Okay, I think we've given them long enough to at least respond. Their bounty has been forfeited and will be given to someone else or added to an upcoming giveaway.



Really?

I am semi-anonymous (I've shared various pieces of information through PM and I'm browsing using my own IP, so I'm sure if people really wanted to find out who I am they could) right now. I would like it to stay that way for now, for a few reasons.

The first reason (and my biggest concern) is for my own personal privacy and the privacy of those I hired. I am not interested in having people know exactly where I live, where I go out to eat, the name of my dentist, the breed of my dog, and my mother's birthday. One of the great benefits of cryptocurrencies is that they protect your privacy when necessary. I'm not going to throw my privacy in the trash because someone wants me to prove that I hired several people to assist in the growth of piCoin.

The second reason (this isn't really an important reason or all that big an issue, but it's worth noting) is that along with all the praise there is always some criticism. It's a lot easier to deal with people attacking something you've created, rather than you personally.

There's a reason the Flappy Bird creator took down his game, even though he was making $50k/day. It can get pretty brutal, even if most comments are positive.

For good measure...



Lastly, we would like to avoid piCoin having a face. Historically that generally hurts coins instead of helping them.

Now that I've explained why I will not be sharing Linkedin profiles of everyone I'm working with (not that everyone even has a LinkedIn profile - it's not fully global), let me elucidate why it should be very feasible that I am telling the truth.

• There is very little incentive to lie about something like this. So I hired several smart people to help with this coin...ok? If the number of people the founder hired in the development of a coin is your primary factor for deciding whether or not to invest in a coin, you're misguided. I don't think you actually think it makes all that much of a difference, though - I see it as much more likely that you're just looking for something to pick at.
• Hiring several people for various jobs when launching a coin is not all that unusual. Heck, other people were hired for other jobs with this coin that I haven't even mentioned - for example, we hired a graphic designer for the logo. It's not like I'm saying "10 full-time employees were hired to work out of our New York City office." Everything I've said is very realistic and not all that abnormal for a coin with a good team.
• piCoin will be promoted offline in the US, Asia, and Europe when the time is right by our marketing consultants and myself (edit: as well as community members like the TheRealSorcerer who are interested in getting involved). We might even hire other people for these tasks, too. We're talking a few months down the road here though, once it has become an established cryptocurrency. Can it conclusively be proven that this is in our growth model? No. You will just have to take our word that the community and ourselves is focused on making piCoin a huge success.

We're sending out bounties over the next day or two in general. We just sent you 100,000 piCoins, but would you mind changing the title? It still reads as pre-ann.


We're very happy to hear about the promotion you are doing. This is exactly the sort of thing we're looking for! Enjoy 20,000 extra piCoins as a thank you for simply reaching out to industry connections. Please keep us updated and let us know if you would like us to get involved.

120,000 piCoins have been sent.


We have already begun dispersing giveaway coins. You should get them soon, probably later today or tomorrow (depending on where you live).


Pro tip: Put your piCoin address and a link to this thread in your signature, then participate in the discussion and help out people who are having problems (a good example is nemesisshaw helping ThePatient with his wallet). We might "accidentally" send you some coins.

Yes, we have. Let me clear things up for you.

• Our Chinese marketing consultant is an experienced Internet marketer who will be promoting piCoin in the Chinese market.
• Our European marketing consultant is an SEO guy who is optimizing our webpages and sites for search engines
• Our Korean marketing consultant is a business connection. He will be promoting piCoin in person once we reach that point.
• Our US marketing consultant is myself, the founder. I'm an entrepreneur and marketer. Maybe I should have made that clearer.
• Our Indian marketing consultant is handling the actual process of giving out the coins for the giveaways.

Is there a better word than "marketing consultant" to describe all five of those people (the main post in limited in the fact that we have to keep people interested and not bore them to death by listing nonvital details)? Not that I (yes, sometimes it's appropriate to use 'I' and sometimes it's appropriate to use 'we', depending on the situation) know of.

Here is how to acquire 10,000 piCoins right now from giveaways:

1. Participate in the FB/Twitter Giveaway and make 5 high quality posts on piCoinTalk. - 6,290 piCoins
2. Participate in our Zero Effort Giveaway. - 1,000 piCoins
3. Participate in AltcoinAuthority's Giveaway. We gave them 1,500,000 piCoins, most of which will be give away. - 500+ (you'll receive plenty for a high quality comment)
4. NXT-e giveaway. Deposit any amount of both BTC and NXT-e. - 1,000 piCoins

The 230,000,000 is about right actually, right now. That's 0.75% of the 31,415,926,535 total coins that will be released.

You're right though, the premined coins will all be going towards the promotion and growth of piCoin - we've already committed over 5% to people (from our giveaways, bounties, and promotion) and it's still launch day. We plan on giving away 25% in the first month or so through giveaways, bounties, and custom projects/bounties. We premined a very reasonable percentage and all of it is going back into the coin.


Please add the piCoin.conf to AppData/Roaming/piCoin

piCoin.conf:


If you participate in all the currently active giveaways you can easily acquire 10,000 coins. Add in a public bounty or a bounty for a custom project (PM us) and you have a lot of coins for doing relatively little.

The current giveaways are just a start, though. They are left overs from the pre-ann - there will be plenty more coming over the next few weeks.

You don't have to believe that there are several people on the "piCoin Team," as we haven't provided any actual proof. People are free to believe what they want to, but we think it's pretty clear.

Thanks for the support.


Confirmations can take awhile due to the block time.

Sure, we could have used a plugin to refresh the page constantly for the past 14 1/2 days, hired a virtual assistant to mimic real browsing for $1 an hour, or Photoshopped it to say 5 years.

We're just trying to be transparent - it was not meant to be a big deal. You're free to take that screenshot for what it's worth.

Not sure if we understand your question, but the coin launched 22 hours ago. So that means 20 out of 22 hours were spent actively on this forum by this account.

We certainly do care about this coin and will not be dumping any coins anytime soon. We've invested a lot of money into marketing - way more than most coins. The fact that this coin has been fairly successful so far (on two exchanges on launch day), despite possible bugs and issues with pool confirmations shows you that there is a good community already building around this coin.



That was around 9 hours when piCoin was launched.

Quick Announcement and Explanation:

The reason behind the lack of a clear decision either way is due to a disagreement among the team about whether or not there are any bugs in the code like some users believe. We have been working nonstop on building out this coin (from a marketing perspective) since launch, despite the disagreements. The team is still divided so we are reaching out to an experienced developer to either confirm or deny these suspicions, so if there are in fact bugs they will be fixed. We can't wait to move past this issue and focus on growth instead of source code.

Meanwhile, a lot of very positive things are happening in the piCoin community. NXT-e is now running a promotion giving away 2,000,000 piCoins to users who deposit BTC and/or NXT. Here are links to the PI/BTC market and the PI/NXT market.

We're also planning a very cool (and delicious) giveaway once we're past this debacle (hint: it involves pie).

As for sumpool, we aren't going to rush to any conclusions. We have put a warning in the original post until the outstanding issues are resolved. We're hopeful that it is just a temporary technical issue and everyone will receive their coins.