[ANN][CHIP] Chipcoin | Full PoS | Maintained Only | Yobit | Nova

[coldfusion]

Banzai

I bought back into CHIP when you posted you were taking it over . Saved me some major losses and made me some nice profit on the way back up


I will follow you to the new project because I invest in the Dev , more so than in the coin .If this is what you decide is best then thumbs up.


My wallet is number 4 on richlist , you have my support!

[Woody20285]

I agree - I like the concept and support your decision for the future

[raetsch]

anybody invested more than he could afford to lose?

well, you are facing a new risky time in Chip² 

[BanzaiBTC]

anybody invested more than he could afford to lose?

well, you are facing a new risky time in Chip²  

Not sure what you mean by that...  


Please realize I'm trying do a good thing here... Chipcoin in its current form is not suited to be used as a share-token... 10 million coins is just to much for that... We're not twitter with millions of stock shares lol..

With the business structure I created, swapping to the new source is only a plus for chipcoin holders...
I dont have to make Chipcoin a part of this, but I want to... Because I actually care about the people who believe in the long-term plan, and the ones who supported me in this take over project.. That is the only reason I came up with such a rewarding plan in the first place..

Bringing new people in, in our current state, is only healty and good for the project imho..
The choice for a share-token sale of the other 50% is obvious.. To get this project of the ground it needs funding.. I want the best for the community, and this requires funds.. Its as simple as that.. A support team needs to be established and rewarded etc... In return, investors will profit from the exchange trading volume.. So its a win-win situation.. If you are unhappy with the investment, you can always sell on the free market..  This will not be some second rate exchange.. or quick pump and dump coin... You must know me better then that I hope  



Something else,

Luc reminded me today we still have the community funds in storage.. There is still ~130K left in the fund...
We can do two things here, and this is pointed towards the donators..
1, refund so you guys can swap m/keep m
2, Exchange them for an external service (example: Android wallet)

[coldfusion]

Use the funds for external services , for new coin or however you think will benefit the way forward.

[raetsch]

anybody invested more than he could afford to lose?

well, you are facing a new risky time in Chip²  

Not sure what you mean by that...  


Please realize I'm trying do a good thing here... Chipcoin in its current form is not suited to be used as a share-token... 10 million coins is just to much for that... We're not twitter with millions of stock shares lol..

With the business structure I created, swapping to the new source is only a plus for chipcoin holders...
I dont have to make Chipcoin a part of this, but I want to... Because I actually care about the people who believe in the long-term plan, and the ones who supported me in this take over project.. That is the only reason I came up with such a rewarding plan in the first place..

Bringing new people in, in our current state, is only healty and good for the project imho..
The choice for a share-token sale of the other 50% is obvious.. To get this project of the ground it needs funding.. I want the best for the community, and this requires funds.. Its as simple as that.. A support team needs to be established and rewarded etc... In return, investors will profit from the exchange trading volume.. So its a win-win situation.. If you are unhappy with the investment, you can always sell on the free market..  This will not be some second rate exchange.. or quick pump and dump coin... You must know me better then that I hope  



Something else,

Luc reminded me today we still have the community funds in storage.. There is still ~130K left in the fund...
We can do two things here, and this is pointed towards the donators..
1, refund so you guys can swap m/keep m
2, Exchange them for an external service (example: Android wallet)

what i meant is, a swap is propably a win or a loss for some investor. so it is a risk.
but holding on chip is also.
and from my perspective, effectively you are only changing the name.
yes, also some numbers, but a healthy market should reflect this change.

so i am in.

[boki15]

I see other points that should be discussed:

1. new coin, why? There are many outside
2. why would any new coin be better?

I think these 2 questions would be main to reply. I assume that banzai means that some other blockchain would be more usefull for his purpose, but what exactly would be these changes to cant be used with current blockchain? What makes you sure that for investor an swap would be more usefull. If there will be some value, what is the exact calculation for chip/value?

Finally, you could start a new coin without killing chip which seems to be bad idea as you need to prioritize your available time, I understand it and agree on it, it would be contraproductive to spread your work on 2 projects. Beside that I understand that there are some server and maintenance costs which double if you keep both projects.

I am not saying yes or no, I would like to know more about it, especially why new coin is requiered.

[BanzaiBTC]

Chipcoin in its current state, has ~10mill spendable coins.. This is simply to much to be a share holder token Boki... I want this token to be semi-rare and profitable for investors through the fee program.. When I created CHIP2 to get us loose from that buggy pow code, there was no plan of this kind.. Only until recently, I found, what I believe is, a good business opportunity for Chipcoin..  The problem is, to make this project a succes.. We need funds.. We dont have that with Chipcoin.. We dont have a premine, or ico funds or whatever.. Everything released, and worked on until now has been done by myself, or paid out of my own pocket...Which is ok.. That is what I choose for back in October 2015..

I strongly believe there is a demand for a new, fresh, customer friendly and safe exchange... Through the crowdfund/kickstarter I am able to cover the third party security checks, hire professional, but known people in the altcoin scene in the team, Promotional/Advertisement costs.. you name it... We will basicly evolve in a business share running over a blockchain, then a coin.. With imo, a fair, and decent return for Chipcoin holders/investors in the long term plan..

You can compare this with an ico that has a pow period as well.. Though, (I hope) instead of miners dumping, we have supporters who are swapping for a better future and investment return.. I hope to crowdfund around 30 BTC, which is the current chipcoin marketcap..

Try to think a little further ahead... All generated exchange fee, is converted into BTC, and then with that BTC (30% of it) we buy the share holder token of the market.. This gives us constant buy pressure on the market.. The bought share holder tokens will be distributed amongst holders based on amount... This will be a constant circle, so basicly the price goes up, your holdings value goes up, and you earn more shares by holding.. The only way to go then is up  

I am actually very excited to start on this project.. And I'm really trying my best here to involve all Chipcoin holders into this project...

The new coin will be named Pioneercoin - PIO (Or Pioneertoken)

[boki15]

I think I can see what you mean, new trusted exchange would be nice but it requieres even more funds then an altcoin. I like it how we met and I will support you in your further projects, I think you are an good and honest addition to cryptoworld.

I dislike the name, if it does not fail, pioneer is copyrighted brand (http://www.pioneerelectronics.com/).

I only assume, price of 10Mio coins halved would be 0.00000600 satoshi. If so or even more, most chipcoin holders would probably just dump, its always the same problem with swaps. If most dump, then the price will reach again current level or even lower. That is something that I dislike.

On other side, there will be bunch of people who will refuse to buy just because early holders of chip get more, many threat it as unfair for new coins. This could cause mixed reactions on the market.

On which tech do you want to build an secure exchange? Do you already know what you would like to do or did you only imagine it until now? I dont know, DHT and blockchain together could spare you some server costs and show it more innovative and openbazzar would be great refference for some coding parts if not at all forking it into an exchange.

[Woody20285]

Another option would be to sell shares in the exchange.
Something to consider if you cannot meet your goals in the ICO portion.

[BanzaiBTC]

I understand your concern boki, But it will work out.. I'm sure of it
About the name, I don't think pioneerelectronics would make a problem out of it, the word pioneer is a normal word all over the globe lol.. And if shit hits the van, we can call it PioneerScoin hehe..

The exchange is not based on any excisting projects, it is a custom build platform. I do plan to extend services as much as possible though, so I will look into these platforms you suggested.


Sneak early peak:

[CoinMin3r]

There was a coin called PioneerCoin before back in 2014.
https://bitcointalk.org/index.php?topic=648489.0

[BanzaiBTC]

There was a coin called PioneerCoin before back in 2014.
https://bitcointalk.org/index.php?topic=648489.0

Yes I've seen that... Though that coin obviously died end 2014... Also the ticker is different...

No worries about that 

[pokeytex]

I understand your concern boki, But it will work out.. I'm sure of it
About the name, I don't think pioneerelectronics would make a problem out of it, the word pioneer is a normal word all over the globe lol.. And if shit hits the van, we can call it PioneerScoin hehe..

The exchange is not based on any excisting projects, it is a custom build platform. I do plan to extend services as much as possible though, so I will look into these platforms you suggested.


Sneak early peak:

@BanzaiBTC - This is a very nice looking exchange screen - I am also in agreement on the switch from Chipcoin to the new coin (whatever the name may be).

[Woody20285]

I like the layout and color scheme!

[BanzaiBTC]

Damn Banzai, that exchange looks sexy! But I really hope you do not underestimate security, as even the biggest exchanges get hacked nowadays. Just saying...

Is the preview you showed us a design or actual code? Either way, looking good!

Yes, it is actual code.. Though, there is no trading engine on the back-end yet. Thats why I said beta around October.. Coding the trade engine, covering security flaws etc takes time, and funds.. You know as good as me that third party security checks don't come cheap   Yes we can launch without additional checks.. is that wise, safe and a responsible action? Heck no.. And not my style... This is some serious and dangerous business to operate in.. Will it be absolutey 100% safe? No that is simply impossible...Even well known exchanges  can still become victim of some crazy talented hacker/group..  But we want to get as close to the 99.9 as possible!

Cheers for the responses guys!
New positive energy to work with

[BanzaiBTC]

A few more days before I start with the new project guys I will keep you all updated!

[coldfusion]

Awesome news . Can not wait for more info .

Good luck .

[BanzaiBTC]

Eagerly waiting!

And who the hell dumped 470k on YoBit yesterday? That's quite a stupid move, right before the announcement of something new.. uhh?

The yobit graph is confusing  Not enough depth

Yesterday there was one red candle with ~100K
and a green candle with ~300K, just look at the strange order history... Maybe someone wanted to get some attention 

[BanzaiBTC]

Website is down guys..

The server needed a re-rent for a minimum of 3 months, that wasnt worth the effort anymore with the upcoming things.. I will re-upload it to one of my other servers later today