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

[Noojna]

Online Wallet is now official up and running although it has been actually running for several hours now and I was just in the background checking transactions and performance. There was minor code revision for added security to comply with banking standard as we're now talking with the banking sector.
QR Code is now shown in the Receive section to better work with Coinomi.
More improvements will come along the way.
Total Staking Coins so far is 5.618 million coins.

Some good news came out of a business negotiation today, more business meetings are scheduled for the rest of the week.
Continue tweeting for Pesobit inclusion to Shapeshift.io by retweeting our tweets at www.twitter.com/pesobit or simply retweet this https://twitter.com/pesobit/status/790724138214133760

Gradually delivering all your promises... good job Lutzow!

Retweeted...

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[serjent05]

good development and as usual active update from dev.  Great job on the tasks done. People who have dump their holding will regret it in the future.  They should have noticed the plan of this coin is to have an actual usage not just some hypothetical equation where even if met will not give simple people access to their platform because it is too complex for them.

[sputnik1]

I saw some dump in the cryptopia at around 2201 satoshi.  Someone dump at 33,360 PSB (0.7342 BTC).   It seems that someone exits again.  Prior to that there are small chunks of selling, maybe someone is manipulating the market so people with weak will be shaken and dump their coins.

Investors who have had patience and courage will have big profits.

https://www.google.com.tw/search?q=patience+is+key+to+success+bill+gates&client=firefox-b&tbm=isch&imgil=5xxe47sDdbl2RM%253A%253B3B2Etq7U-0UMOM%253Bhttps%25253A%25252F%25252Fquotefancy.com%25252Fquote%25252F756783%25252FBill-Gates-Patience-is-a-key-element-of-success&source=iu&pf=m&fir=5xxe47sDdbl2RM%253A%252C3B2Etq7U-0UMOM%252C_&usg=__ZohGy9ZMTAhde7pwFR926KoI1Ug%3D&biw=1070&bih=546&ved=0ahUKEwjky-CczPfPAhUShbwKHSaiC04QyjcIJQ&ei=AywQWKS-HZKK8gWmxK7wBA#imgrc=5xxe47sDdbl2RM%3A

[betong]

new pesobit betting site   
drainthebank.com

https://bitcointalk.org/index.php?topic=1662006

[Noojna]

I really like the new Pesobit site - very profesionnal and complete!

http://www.pesobit.net/

 

[BitcoinPanther]

I really like the new Pesobit site - very profesionnal and complete!

http://www.pesobit.net/

 

The new site is much better than the old one. looks good and straightforward.

new pesobit betting site   
drainthebank.com

https://bitcointalk.org/index.php?topic=1662006

I checked your site, kinda empty on the login page.  You should have taken sometime to at least put some images or description on the landing page.  Still great work in supporting PSB usage.  Now we can bet using PSB as mode of payment.  I hope to see your site grow and have more users.

[Wexfgy12]

How much did the ICO raise / link to something explaining the results/statistics of the ICO?

[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.

[Noojna]

... 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..
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.

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.

Amazing work! Looks like we will be ready for a fully functional Philippine remittance system before Christmas, which of course is a crucial time.

[yurez]

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.

These are the best news from many projects at this forum. If everything turns out a course of a coin will fly up to heaven. When on the website sellers of goods and services for coins appear?

[cryptodv]

Lutzow, the news of the Philippines wanting to sever ties with the U.S., is that going to hurt or help your effort with Pesobit?

[Dabs]

Lutzow, the news of the Philippines wanting to sever ties with the U.S., is that going to hurt or help your effort with Pesobit?

My guess is that is irrelevant, unless the 3.4 million Filipinos in the U.S. decide not to send remittances back to family in the Philippines.

[electronicash]

Lutzow, the news of the Philippines wanting to sever ties with the U.S., is that going to hurt or help your effort with Pesobit?

My guess is that is irrelevant, unless the 3.4 million Filipinos in the U.S. decide not to send remittances back to family in the Philippines.

How about Digong's ofw bank plan? Its yet a plan though but I assume this bank will also have ATMs on every malls in the country. This will make withdrawals easy for the OFWs.

[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

[Luke2939]

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

Thanks for keeping us posted with the updates of Pesobit. Things are going well and I am expecting Pesobit to breakout into new price level.

[shintosai]

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

Very nice update as we all knew that this coin will be huge in the long run just seeing another rise and possible to go back to 10k again while more improvement is on going just keep on believing that dev will deliver it one by one. More to come psb team good luck

[serjent05]

Lutzow, the news of the Philippines wanting to sever ties with the U.S., is that going to hurt or help your effort with Pesobit?

i don't think this will have an effect on Pesobit or bitcoin.  People who are living/working in there will never stop remitting money for their love one's here in the Philippines.

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

Very nice update as we all knew that this coin will be huge in the long run just seeing another rise and possible to go back to 10k again while more improvement is on going just keep on believing that dev will deliver it one by one. More to come psb team good luck

indeed another good news from Lutzow, keep it up dev, though the impact of the news is certainly being felt on the exchanges, it may not be in price increase but in buy demand.  the time will come for them to agressively buy PESOBIT when all of this plan is perfectly setup and opretional.  so better wait than sorry

[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.

[vanedwap]

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.

very good update dev. nicely done

[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.