PhoenixDC (OP)
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July 11, 2017, 04:55:52 PM |
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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
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. |
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PhoenixDC (OP)
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July 11, 2017, 06:22:44 PM |
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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/Scalabilityhttps://www.amqp.org/resources/financial-servicesIt will easily outperform Bitcoin in terms of scaling. It is designed to power a global economy. |
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dwink
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July 11, 2017, 07:42:06 PM |
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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! 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. 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? |
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TimeTeller
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July 11, 2017, 11:41:50 PM |
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This one is interesting how far this one will go. I'll bookmark so I'll be updated for its progress.  |
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cryptovn83
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July 11, 2017, 11:57:08 PM |
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Is this easy money market with many ICO recently?
I'm not sure...
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PhoenixDC (OP)
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Activity: 14
Merit: 0
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July 12, 2017, 05:36:36 AM |
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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! 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. 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? 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. |
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PhoenixDC (OP)
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Activity: 14
Merit: 0
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July 12, 2017, 06:29:29 AM |
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Is this easy money market with many ICO recently?
I'm not sure...
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. |
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dwink
Member
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Activity: 91
Merit: 10
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July 12, 2017, 07:14:57 AM |
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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! 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. 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? 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. 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? |
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PhoenixDC (OP)
Newbie
Offline
Activity: 14
Merit: 0
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July 12, 2017, 08:53:19 AM |
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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! 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. 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? 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. 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. |
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RJX
Legendary
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Activity: 1078
Merit: 1003
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August 03, 2017, 01:11:56 PM |
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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?
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RJX
Legendary
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Activity: 1078
Merit: 1003
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September 07, 2017, 08:05:53 PM |
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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!
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chocobo
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September 11, 2017, 08:36:40 PM |
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Is there a whitepaper? You are making big scalability claims and I have a feeling this isnt much of a decentralized blockchain.
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tottong
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September 11, 2017, 08:43:26 PM |
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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. |
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