[ANN][PSB] Pesobit, the currency for remittances and international cooperation

[Lutzow]

As some of you guys already know, a verbal agreement has been established between a local bank and e-Wallet.ph (Pesobit local registered company).
This bank will be included in one of the few options Pesobit Online Wallet users will be having in converting their Pesobit to Philippine Peso.

Drafted process:
For encashment (Pesobit -> Philippine Peso)
- Recipient must be a partner bank account holder
- Sender which is the wallet.pesobit.net account holder will click on the Convert to Peso button then enter the partner bank account number of the recipient
- It will make use of the current Philippine Peso conversion rate at the time of withdrawal so it will be fixed.
- The bank is a member of Bancnet so funds can be withdrawn in thousands of ATMs across the country.
- There will be 2 types of service (Basic and Express).
1) The Basic service will have the Philippine Peso credited on the next business day (cutoff times and crediting time will be established) to the recipient's bank account. Fee is P5 or $0.10.
2) The PAID service will have the Philippine Peso funds credited after 4 hours to the recipient's bank account even on weekends and holidays. (P25 Philippine pesos or $0.50)

For buying (Philippine Peso -> Pesobit)
- e-Wallet.ph will be applying as a biller meaning you can pay thru online banking within Bancnet participating banks, via over-the-counter or via ATM.
- Each user will have a subscriber number. If you will be buying PSB, you need to pay the required amount payable to e-Wallet.ph.
- For the system to recognize that a transfer came from you, a subscriber number is required (8 or 10-digit unique number assigned to each account) whether you use over-the-counter, online banking or ATM.
- The Pesobit team will receive your payments the next morning so your ordered Pesobits will be credited by noon time.

For Remittance purposes, it will be best if your families here will have the bank account under their name not yours especially if you will be sending big amounts because ATM service can only offer up to P20,000 daily withdrawal limit so if you will be sending larger than that amount, an over-the counter withdrawal is needed and can only be processed by the account holder. Based on current pricing, sending money from abroad going here to the Philippines using Pesobit will only cost you roughly P25 or $0.50 if same-day transfer is needed or even lower if you the recipient can wait til next day regardless of the amount to be transferred.

ETA: Since we're approaching a long weekend, business processings will probably resume late next week. Together with other business processes, such can be implemented around 1st of December.

Take note though that this is just one of several cash-out options that we're working on and the first option (VMoney-powered) is already in-process.

As for the direct-buying using BTC or Peso wallet from coins.ph, it's been a busy past few days for me including tomorrow as I will also have another meeting but once I was able to get more time the development of such will resume.

[passivebesiege]

Sana mas dumami ng dumami ang gumamit ng pesobit. Yung tipong 0.1 lang pesobit ay malaking halaga na pag pesos ang pinag uusapan hehe. Hindi naman po siguro yun malabo.

Pwede 0.1 Pesobit = 25 Pesos. That's one realistic goal in maybe 2 or 3 years. It could happen sooner.

Agree Kay sir dabs it's possible nman, kaya nag iipon na ako ngayon habang Mura pa sayang yung time kung hindi mo nmn igagrab pag dating ng Dec niyan siguro tuloy tuloy na.

Tama walang impossible kay pesobit na mangyari yun. Ang gawin natin I promote nation ng ipromote tong coin na to para lalo pa tumaas ang presyo niya para lahat tayo ay maging happy . promote pesobit pump pesobit . pesobit to the moon.

agree ako ipromote lng to ng promote atleast gayahin sana ung marketing strategy ng coins.ph na meron 25 pesos every refferal na nag confirm dun na iinganyo ang mga tao sa reward kaso malaking investment un at risk.

About doon sa marketing na gaya ng Kay coins.ph mukhang Hindi ako agree na gawin na siya ngayon ,maybe next year baka pwede na. Psb price still cheap padin nmn kaya pwede pa silang bumili kung gusto nila. And by the way nice update dev  

[syndria]

Coinomi now includes Pesobit in their supported coins. The Online Wallet will be up later today as well as we're already done of codes and security measures. Your PSB addresses remains the same in the Online Wallet. Sending from Online Wallet to Coinomi is also working perfectly. Coinomi only supports Android for now but is working on iOS and Desktop application as well.

Transferring funds via QR Code works as well. We just need to make some push for Shapeshift.io to accept Pesobit as well so you can do direct conversion of any coins to Pesobit direct from your wallet.

Please follow www.twitter.com/pesobit and retweet https://twitter.com/pesobit/status/790724138214133760

Nice ayos to mayroon na ko bagong option para pagimbakan ng Pesobit.

[Lutzow]

Had 2 meetings today, the other one is still pending result for around 1st week of November. While the other is another bank and had a verbal agreement on the terms and processes.This bank is bigger than the one we talked to yesterday.
Notes:
For Cash-outs, you will need an account number on this participating bank.
Open up a regular savings account with a maintaining balance of P100 or $2.50.
You will then fill up your Online Wallet profile with the details of this bank (account number).
The ATM is VISA (no MC yet)
This bank has 400+ branches.
For this one though, we're still looking on how we can be a merchant for those who want to buy PSB directly via their bank account.
ETA: Due to the long weekend til Tuesday, processes will resume late next week already agreements etc. Still on track to late November or even Mid November release.
By the way, PSB is already in the Hot Pair in C-Cex

[Lutzow]

Buying of Pesobit directly from the site is now working. You can only buy at a minimum of 100, maximum of 100,000 and denomination of 10s of Pesobits only. Once you hit buy and confirm, it will go to your Buy orders showing the address where you want to send the BTC to. The order will be completed after 2 confirmations and will automatically be added in your Available PSBs. The rate being followed is when you click on the Buy order and pending order will expire after 24 hours.

[Lutzow]

Collected 0.35 BTC in direct buying in the https://wallet.pesobit.net
It is now being placed as a buy order @ 2400 sats over at C-Cex.
It will start in C-Cex for PSB to be in the Hot Pair as long as possible.
Current amount of coins in staking is 6.826 million PSBs

The direct buying in the Online Wallet is for those who are somewhat not used to buying cryptocurrency in exchanges. The collected BTC will be used to establish buy walls in exchanges starting in C-Cex.

[Lutzow]

It's the 1st work day here in the Philippines due to the long weekend brought by the All Saint's day.
- Business paperworks between partnered companies resumed.
- We got a 3.5k retweets for our Shapeshift.io twitter push, hoping that they will heed the public's call and thanks to all those who retweeted.
- The number of direct Buy orders from the Online Wallet now totaled to 0.95 BTC, which were also being used to buy the low sell orders to prevent sudden price decrease.
- Total number of staking coins is now at 7.296 Million Pesobits.
Pesobit Commemorative Coin hopefully will arrive within the next couple of weeks as there's a need for a minor revision to smoothen out rugged edges in the design.
- And, I'll be on a scheduled Family vacation starting Friday and I'll be out-of-town until early next week but will check things out from time to time still.

[Lutzow]

Just a short one, I'm seeing lots of Pending Buy orders from several accounts. Some of them happen to be paid already by the account holder but there was a mismatch with the amount being sent vs the amount being asked from them. Let's say you ordered 100 PSBs and having a bill of 0.0024 but you sent 0.00239800, your order won't be marked as completed by the system because blocktrail API checks for 'same' btc values.
For those who already paid for their PSB order but yet to arrive to their accounts, please send me an email to pesobit@gmail.com with your account email address and txid of your payment.

[BBHex]

bro Lutzow ngayon ko lang nasilip yung site ng pesobit at balak ko sana bumili ng konti at gamitin yung staking sa site pero bakit yung ibang clickable button sa site ay ayaw gumana? sira ba or wala pa tlagang function as of now?

[Lutzow]

bro Lutzow ngayon ko lang nasilip yung site ng pesobit at balak ko sana bumili ng konti at gamitin yung staking sa site pero bakit yung ibang clickable button sa site ay ayaw gumana? sira ba or wala pa tlagang function as of now?

In preparation ung ibang button.


Vmoney posted about Pesobit partnership

http://www.vmoney.com/blog/2016/11/07/pesobit-enlists-vmoney-for-a-better-cryptocurrency-conversion-experience/?loc=ph

[syndria]

bro Lutzow ngayon ko lang nasilip yung site ng pesobit at balak ko sana bumili ng konti at gamitin yung staking sa site pero bakit yung ibang clickable button sa site ay ayaw gumana? sira ba or wala pa tlagang function as of now?

In preparation ung ibang button.


Vmoney posted about Pesobit partnership

http://www.vmoney.com/blog/2016/11/07/pesobit-enlists-vmoney-for-a-better-cryptocurrency-conversion-experience/?loc=ph

Na stock tayo ngayon sa 0.000023 -  0.000024,  salamat sa update

[Lutzow]

The application for business merchant of coins.ph has been established.
This means we can now offer a service in the Online wallet that allows a user to convert their Pesobit to Philippine Peso cash out using coins.ph options. It will follow next business day crediting though just like coins.ph.
I will check the withdrawal options, what banks can you send the funds to etc.
As for the transaction fee, it will be lesser than the BTC<->Peso conversion fee percentage of coins.ph
It could be that there will be an option for funds to be sent directly to your coins.ph wallet as Philippine Peso so you can withdraw it on your own but there could also be an option for direct bank withdrawal at least for those whose coins.ph accounts are limited but we could put up some limits to conform with the KYC policies.

ETA: Soon as I still have to check all the options and functionalities that can be put in place.

However, this doesn't mean that our only mode of cashout is via coins.ph. Vmoney announced our partnership with them few days ago so it is also being handled. Direct bank connection is also being worked on.

Why have all these cash-out options?
All of them have their own fees, advantages and policies. There will be some users who will prefer coins.ph due to their btc wallet connection and numerous cash-out options, some might prefer the direct bank connection as funds that are being converted are already withdrawable via the ATM and some might prefer VMoney solution due to their reloadable Debit Card, tap-to-pay solution for merchants etc.

Wallet withdrawal has been changed as well, all sending of Pesobit will be initially sent to Pending status. Then every 15 minutes, there's a scheduled task that will run to check all the Pending orders and mark them completed or invalid as there are some who happen to have a mistake in entering PSB address (entered BTC address instead) and others.

EDIT: Just to clarify, we applied as a business merchant with coins.ph so Pesobit won't be directly accepted by coins.ph. We're allowed to use their services for business operations.

[bitwarrior]

The application for business merchant of coins.ph has been established.
This means we can now offer a service in the Online wallet that allows a user to convert their Pesobit to Philippine Peso cash out using coins.ph options. It will follow next business day crediting though just like coins.ph.
I will check the withdrawal options, what banks can you send the funds to etc.
As for the transaction fee, it will be lesser than the BTC<->Peso conversion fee percentage of coins.ph
It could be that there will be an option for funds to be sent directly to your coins.ph wallet as Philippine Peso so you can withdraw it on your own but there could also be an option for direct bank withdrawal at least for those whose coins.ph accounts are limited but we could put up some limits to conform with the KYC policies.

ETA: Soon as I still have to check all the options and functionalities that can be put in place.

However, this doesn't mean that our only mode of cashout is via coins.ph. Vmoney announced our partnership with them few days ago so it is also being handled. Direct bank connection is also being worked on.

Why have all these cash-out options?
All of them have their own fees, advantages and policies. There will be some users who will prefer coins.ph due to their btc wallet connection and numerous cash-out options, some might prefer the direct bank connection as funds that are being converted are already withdrawable via the ATM and some might prefer VMoney solution due to their reloadable Debit Card, tap-to-pay solution for merchants etc.

Wallet withdrawal has been changed as well, all sending of Pesobit will be initially sent to Pending status. Then every 15 minutes, there's a scheduled task that will run to check all the Pending orders and mark them completed or invalid as there are some who happen to have a mistake in entering PSB address (entered BTC address instead) and others.

EDIT: Just to clarify, we applied as a business merchant with coins.ph so Pesobit won't be directly accepted by coins.ph. We're allowed to use their services for business operations.

Another Great Update from Pesobit Dev! More Power!

[syndria]

Paano ba yan? Kelan mailalabas yan ng coins.ph? Wala pang update sa kanila.

[passivebesiege]

Paano ba yan? Kelan mailalabas yan ng coins.ph? Wala pang update sa kanila.

Siguro wait nlng natin si dev mag update uli kung pano siya gamitin excited na ako  . Marami pang susunod na mangyayari kaya bili lang ng bili habang Mura pa .

[jhenfelipe]

Nice update. Ayos po na magkakaroon na ng iba ibang option. Looking forward na magamit na ang coins.ph sa pag convert ng pesobit to php at pag withdraw. For me, mas magiging convenient dahil coins.ph yung gamit kong wallet.

[RoskoBITS]

Can someone tell me how long it takes for this coin to start it's staking?

Thanks,
Rosko

[Lutzow]

A QT5 version of Pesobit wallet has been created and you can get it from www.pesobit.net/downloads/Pesobit-QT5.rar.
The old Pesobit wallet will still work so installing this isn't a must but rather an optional one. This new wallet package is bigger in file size as it is dependent to some files and Visual C++ package so if it doesn't work well you might need to install this one (https://www.microsoft.com/en-us/download/details.aspx?id=5555). No need to remove the old wallet as well just make sure that the old wallet application is close before you open this. It will also use the old wallet.dat file and Pesobit folder in the Roaming section but backing up the old files is still a very safe way to do this.

What's new?
QT5 wallets are more dynamic and can add several features and the one that got released includes the block explorer within the wallet itself and has links to both C-Cex and Cryptopia exchange.

Other developments in the Desktop wallets will follow and will be announced once ready.

[shintosai]

A QT5 version of Pesobit wallet has been created and you can get it from www.pesobit.net/downloads/Pesobit-QT5.rar.
The old Pesobit wallet will still work so installing this isn't a must but rather an optional one. This new wallet package is bigger in file size as it is dependent to some files and Visual C++ package so if it doesn't work well you might need to install this one (https://www.microsoft.com/en-us/download/details.aspx?id=5555). No need to remove the old wallet as well just make sure that the old wallet application is close before you open this. It will also use the old wallet.dat file and Pesobit folder in the Roaming section but backing up the old files is still a very safe way to do this.

What's new?
QT5 wallets are more dynamic and can add several features and the one that got released includes the block explorer within the wallet itself and has links to both C-Cex and Cryptopia exchange.

Other developments in the Desktop wallets will follow and will be announced once ready.

which means that we don't need to bother our self to removed our old wallets because it will still usable right this new one is just an upgraded one i guess i will look for much better between the two wallets, so nice to know that more incoming projects are still in progress hope to see it from time
to time, good luck to you working dev.

[BitcoinPanther]

A QT5 version of Pesobit wallet has been created and you can get it from www.pesobit.net/downloads/Pesobit-QT5.rar.
The old Pesobit wallet will still work so installing this isn't a must but rather an optional one. This new wallet package is bigger in file size as it is dependent to some files and Visual C++ package so if it doesn't work well you might need to install this one (https://www.microsoft.com/en-us/download/details.aspx?id=5555). No need to remove the old wallet as well just make sure that the old wallet application is close before you open this. It will also use the old wallet.dat file and Pesobit folder in the Roaming section but backing up the old files is still a very safe way to do this.

What's new?
QT5 wallets are more dynamic and can add several features and the one that got released includes the block explorer within the wallet itself and has links to both C-Cex and Cryptopia exchange.

Other developments in the Desktop wallets will follow and will be announced once ready.

which means that we don't need to bother our self to removed our old wallets because it will still usable right this new one is just an upgraded one i guess i will look for much better between the two wallets, so nice to know that more incoming projects are still in progress hope to see it from time
to time, good luck to you working dev.

Well it is backward compatible so I think it will work with no problem,  But to make sure, back up your wallet just in case some problem occur.  Anyway this is another good update regarding pesobit wallet development.  Good job Pesobit team, it is good to have PSB at this low price, a very good time to accumulate more.