[ANN] PayServices Multi-Value Exchange & ButterflyBits Crypto Rewards

[jk9694]

This product no longer supports crypto, thanks.

[1714105653]

1714105653

[1714105653]

1714105653

[1714105653]

1714105653

[1714105653]

1714105653

[Godson_Mansa]

tl;dr

but i am mildly interested

[wildduck]

Very good presentation of coin, 100% primine and then distribution like the dev wants. 

[pc888]

Interesting... posted a link in BTA ann.

[CryptocurrencyNetwork]

Interesting... posted a link in BTA ann.

Interesting could be used as a term while viewing Bata.io, however to be frank I believe the more accurate and appropriate word would be 'impressive' to say the least. Thank you. I believe the PayServices folks are going to be looking forward to discussing ways to collaborate closely and in a mutually beneficial way with the people behind the highly impressive Bata platform. Bata is indeed one of the 291 Currencies listed on the PayServices Platform. https://www.payservices.com/currency.php?type=crypto

Have you got nothing better to do than criticise? Why else do you think the link was posted in the Bata forum?

[DNotes]

Congratulations PayServices team!

This is a massive project and a lot of effort has gone into the development of it. Wishing you all the best of luck from the DNotes team and community, you have our support!

[Chase]

Congratulations PayServices on the launch of your exchange and ButterflyBits reward program. I am going to take a good look at it this weekend.   

[Master_dandosha]

Congratulations PayServices on the launch of your exchange and ButterflyBits reward program. I am going to take a good look at it this weekend.   

Nice to see new good idea just registered with you
Good luck

[kanus1113]

Looks very interesting. If I have your card, and DNotes in my account, would I be able to purchase something from the store in fiat and it automatically do the conversion for me?

[jk9694]

Looks very interesting. If I have your card, and DNotes in my account, would I be able to purchase something from the store in fiat and it automatically do the conversion for me?

Ultimately you will be able to do as you have described.

[operabit]

Very different and have a nice concept

[wiser]

I've been trying out PayServices over the past few days, and I like it, although some of the features haven't been implemented yet. I'm really looking forward to trying out the various features as they roll out.

The question I have about BFB is this: If the coin is 100% premined, where are you getting the coins to have one coin per block indefinitely?

[anticlimax]

I've been trying out PayServices over the past few days, and I like it, although some of the features haven't been implemented yet. I'm really looking forward to trying out the various features as they roll out.

The question I have about BFB is this: If the coin is 100% premined, where are you getting the coins to have one coin per block indefinitely?

In the practical sense, it's a 100% premine, as it takes 3 years for pow to generate 1% of total supply.

[wiser]

Why the **** is Paycoin there . Its a major ***** scam. I even lost my microprime keys to the new developers who took over.

Paycoin is not the same thing as Josh Garza or GAW Miners. It's a legitimate coin. If you lost your microprime keys, it's not automatically the fault of the new developers. They had a limited time for people to access them for security reasons.

In any case, this isn't the place to vent about PayServices' selection of coins. They are trying to carry as many of them as possible, so not all of them are going to be top of the line.

[jaipagare]

Watching..

[CryptoCritic]

Interesting... posted a link in BTA ann.

Interesting could be used as a term while viewing Bata.io, however to be frank I believe the more accurate and appropriate word would be 'impressive' to say the least. Thank you. I believe the PayServices folks are going to be looking forward to discussing ways to collaborate closely and in a mutually beneficial way with the people behind the highly impressive Bata platform. Bata is indeed one of the 291 Currencies listed on the PayServices Platform. https://www.payservices.com/currency.php?type=crypto

Have you got nothing better to do than criticise? Why else do you think the link was posted in the Bata forum?

Can't we all just get along? (says the CryptoCritic)

[CryptocurrencyNetwork]

Interesting... posted a link in BTA ann.

Interesting could be used as a term while viewing Bata.io, however to be frank I believe the more accurate and appropriate word would be 'impressive' to say the least. Thank you. I believe the PayServices folks are going to be looking forward to discussing ways to collaborate closely and in a mutually beneficial way with the people behind the highly impressive Bata platform. Bata is indeed one of the 291 Currencies listed on the PayServices Platform. https://www.payservices.com/currency.php?type=crypto

Have you got nothing better to do than criticise? Why else do you think the link was posted in the Bata forum?

Can't we all just get along? (says the CryptoCritic)

We can get along indeed.

I have been actively promoting it. Please note that BTA also has PayServices featured on website.

[wiser]

I've been trying out PayServices over the past few days, and I like it, although some of the features haven't been implemented yet. I'm really looking forward to trying out the various features as they roll out.

The question I have about BFB is this: If the coin is 100% premined, where are you getting the coins to have one coin per block indefinitely?

@wiser,

POW Blocks with one coin per block generated by the ButterflyBits Network every minute would be left in place with no halving in order to provide incentive for as many miners as possible to set up nodes and mine ButterflyBits. This would help further secure the Network and guarantee fast transactions. Since PayServices is rich in features, including ones that are not fully implemented yet along with features that are yet to come in the future, the amount of uses for these coins could be massive. This would make mining for a share of the 1440 coins a day that the Network produces worth mining in order to gain as many as possible. Currently with its distribution as rewards in increments of 10 to 125 ButterflyBits that come with the Butterfly Effect CitizenCards when purchased at $10 USD to $125 USD. Those ButterflyBits come directly out of the pre-mine which is viewable through any Block Explorer with a rich list or in the Butterfly Central Reserve. Compared to most the Bitcoin 2.0 projects along with ripple, leaving in the ability to mine ButterflyBits for the single coin blocks keeps ButterflyBits DeCentralized which is an important part of why CryptoCurrencies such as Bitcoin and Litecoin have been extremely successful. This and other components and features that make up PayServices are all a big learning lesson which we will be learning together as this grows into something that all of us will have built together and that works. ButterflyBits is just one of many components that are a part of PayServices.

Thanks for answering the question, although it would seem that as long as there are BFB's tied up for miners, then the premine wasn't entirely 100%, maybe 95%, but you would have had to have left some for the miners to unlock. Or, do those BFB's come from somewhere else? I'm just trying to understand.

As far as accessing BFB's now, I know of two ways: mining it and buying a Butterfly card through PayServices.com. Are there any other ways to acquire or purchase BFB's? Do any exchanges currently carry it? I understand PayServices will have its own exchange and marketplace in about a month. Will BFB then be for sale? I would love to get my hands on some.

[wiser]

I've been trying out PayServices over the past few days, and I like it, although some of the features haven't been implemented yet. I'm really looking forward to trying out the various features as they roll out.

The question I have about BFB is this: If the coin is 100% premined, where are you getting the coins to have one coin per block indefinitely?

@wiser,

POW Blocks with one coin per block generated by the ButterflyBits Network every minute would be left in place with no halving in order to provide incentive for as many miners as possible to set up nodes and mine ButterflyBits. This would help further secure the Network and guarantee fast transactions. Since PayServices is rich in features, including ones that are not fully implemented yet along with features that are yet to come in the future, the amount of uses for these coins could be massive. This would make mining for a share of the 1440 coins a day that the Network produces worth mining in order to gain as many as possible. Currently with its distribution as rewards in increments of 10 to 125 ButterflyBits that come with the Butterfly Effect CitizenCards when purchased at $10 USD to $125 USD. Those ButterflyBits come directly out of the pre-mine which is viewable through any Block Explorer with a rich list or in the Butterfly Central Reserve. Compared to most the Bitcoin 2.0 projects along with ripple, leaving in the ability to mine ButterflyBits for the single coin blocks keeps ButterflyBits DeCentralized which is an important part of why CryptoCurrencies such as Bitcoin and Litecoin have been extremely successful. This and other components and features that make up PayServices are all a big learning lesson which we will be learning together as this grows into something that all of us will have built together and that works. ButterflyBits is just one of many components that are a part of PayServices.

Thanks for answering the question, although it would seem that as long as there are BFB's tied up for miners, then the premine wasn't entirely 100%, maybe 95%, but you would have had to have left some for the miners to unlock. Or, do those BFB's come from somewhere else? I'm just trying to understand.

As far as accessing BFB's now, I know of two ways: mining it and buying a Butterfly card through PayServices.com. Are there any other ways to acquire or purchase BFB's? Do any exchanges currently carry it? I understand PayServices will have its own exchange and marketplace in about a month. Will BFB then be for sale? I would love to get my hands on some.

@wiser,

Ok,

"Thanks for answering the question, although it would seem that as long as there are BFB's tied up for miners, then the premine wasn't entirely 100%, maybe 95%, but you would have had to have left some for the miners to unlock."

Technically in a sense you are correct. In 2140 or around there when the last Bitcoin containing Block is mined there will still be Blocks Generated by the Bitcoin Network every 10 Minutes. However the POW Blocks will only contain transactions and those transactions will be the incentive for the miners to continue solving Blocks.  The Transactions will look like new Bitcoins when added up together but technically will not be but instead the Network regenerating itself so that the system continues to work. Bitcoins should be very very expensive by then so even small transactions could be worth a lot especially when all combined together in one Block same as now where the blocks contain 25 Bitcoin plus 0.23884096 BTC in transaction fees according to a Bitcoin Block just solved by The BitClub Network.

Recently we have seen some AltCoins hit their Coin Cap. Some are programed through halving to stop halving once they get down to single coin blocks. In other words these AltCoins blocks stay at one coin per block plus the Network transaction fees. Since AltCoins are nowhere near as valuable as Bitcoin, the single coin blocks left in to add to the transaction fees provide more incentive to keep miners solving blocks since AltCoins transactions alone would technically not provide a large enough incentive to continue solving blocks which process the transactions and keep the blockchain moving and the coins Network alive. This is a similar case. So it would be safe to say that the ButterflyBits Network is 99.5% Pre-mined and the 100 Million BFB Network will increase by around 525k annually.

The percentage of the premise will lesson every year. In 100 years there will be 150 Million BFB give or take as its slowly added to annually through the single coin blocks. The BFB Community could make the decision through consensus to modify the parameters through some type of Hard Fork including changing Algorithms, etc. ButterfltBits has had its Source Code up on GitHub since last May and will remain there. The BFB community will be in charge of that. Pull requests will be submitted and reviewed in accordance with the Open Source Initiative and will be governed under Open Source Principles. This is why its important ant to get involved and embrace this, plus secure the BFB Network. Having ButterflyBits are like having a part of PayServices. The PayServices Community is its backbone.

When the time comes and ButterflyBits become widely distributed it might be incumbent of those that end up as holders one day, they will want to protect their holding by running some sort of desktop ASIC Scrypt Miner to help keep the ButterflyBits Network Secure and in confidence have a piece of mind that they are doing their part in keeping the Network DeCentralized and confirming transactions which will help protect their holdings and add to them constantly a BFB coin here and there.

I did not know how to explain it any shorter. My apologies for the length. Please if anyone reads this do correct any errors I have made while explaining this or if possible give a far shorter and more accurate explanation regarding how it works when a CryptoCurrency Network generates its last coin. Thanks!!

"Or, do those BFB's come from somewhere else?"

No, they are generated by the ButterflyBits Network like other Cryptocurrency Networks do such as Bitcoin or Litecoin. Without Block generation the transactions could not take place or be confirmed and the Blockchain would stall. PayServices is a highly valuable company, one coin per block plus transaction fees should be enough in value to incentivize mining on a mass scale which is what will be needed in order to truly sustain the ButterflyBits Network.


"Are there any other ways to acquire or purchase BFB's?"

Yes, in what we are told to be less than 30 days from now once the conversion/Trading/Exchange mechanism is in place which allows the Crypto Nodes to communicate much further than they do today with the existing PayServices System and High Speed Trading Network via the VEMS=Value Exchange Management System and the PayServices CEO rings the bell (No bell) and says 'Let the Trading Begin" there will most likely be ButterflyBits available for buy/Sell/Trade or Convert and the free market will determine their price from then on dynamically.

PayServices has had a certain amount of volunteers that have come to help with certain tasks based on their skills and the need for those skills in helping get this platform ready. Because PayServices being a start-up, along with the 3+ years that it has taken to get this far, funding to pay those volunteers especially since May 2015 has been scarce, however the CEO had offered a few of those volunteers stipends that were gifted to them in the form of ButterflyBits which they gladly accepted. Granted these BFB coins were not just given away in stacks but instead given out mathematically comparable to one dollar each theoretically as gifts based on the work accomplished. We are talking about a small amount and nothing out of the 100 Million BFB Pre-mine. This was one of the components  that was used to determine how many BFB to give away as rewards while trying to maintain equal face value to the cost of each Butterfly Effect Citizen Card when sold.

My guess is that once the Social Communities take shape individually per Crypto Dev Team along with their existing communities plus the new communities that will form that I would think the CEO would have a bulletin Board or something viewable to all listing the need for certain individuals with specific Skills that are needed for this or that and my guess that the volunteer work that members of the PayServices Community are interested in that they will be gifted in ButterflyBits as a form of stipend for their help. The PayServices CEO understands the importance of Community, especially the Crypto Community which will be its backbone, my guess is there will be more opportunities than we can count for members of the PayServices/Crypto Community to participate in at higher levels including front and back work, activism, education, community building and especially advising PayServices directly how PayServices can do better or create more needed features. PayServices is going to belong to everyone that gets involved with it. This will be the largest new community project ever. It will grow and grow with everyones help and its incumbent of us all to make this of value for everyone involved.


"Do any exchanges currently carry it?"

Not that I am aware of but a secondary Market would be great.

"Will BFB then be for sale?"

Most likely yes, of course.

Thanks so much for this! No worries about the length. Sometimes it just takes a lot of words to adequately explain something. I now understand the premine vs. one coin per block indefinitely conundrum. The part I was missing was that 100 BFB was not a final number, but that this amount would be added to gradually over time. So slightly inflationary, but at 0.5% annually not excessively so

I'm enjoying the development of PayServices and look forward to the launch of the trading platform/marketplace. I will probably buy some BFB at that point, depending on what the market does.

Thanks again for the thorough explanations!

[jk9694]

The first cards are shipping out... Don't forget to get yours!