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

[Pioneer88]

Hi Lutzow/Dev team,

I see the potential and support the project.  I have bought from the ICO, and will like to buy more but I have a couple additional questions:

1. Is there a minimum or target amount that needs to be raised for the ICO?  Most crowdfunding will reimburse the investors through the escrow if this target is not met.

2. Just for contingency planning - is the escrow just a single individual?  This is not a multisig setup right?  If something happens (I do not wish any, just for sake of discussion) and we lose the holder of the private keys during the ICO period - what is your contingency plan for that?

Thank you.

Very good questions. I am also suggesting before releasing the wallet , there should undergo strict testing for usage and security issues that may arise. There have been an increase of altcoins with built in hidden premine and backdoor trojans or keyloggers that needs to be addressed when it comes for the pesobit wallet.

The ICO announcement doesn't tell about refunding or the target of ICO fund.
For contingency planning, it seems impossible to plan for a fully response to all circumstances that happen to the Escrow. It's the same to other ICOs. For ex, The Escrow suddenly disappears for some reasons, dev team will not able to receive their ICO However they should release the tokens as scheduled. That's unfortunate for Dev team. It's hard to happen but in the world of boomed ICOs, anything could happen.

[Isolani159]

Hi Lutzow/Dev team,

I see the potential and support the project.  I have bought from the ICO, and will like to buy more but I have a couple additional questions:

1. Is there a minimum or target amount that needs to be raised for the ICO?  Most crowdfunding will reimburse the investors through the escrow if this target is not met.

2. Just for contingency planning - is the escrow just a single individual?  This is not a multisig setup right?  If something happens (I do not wish any, just for sake of discussion) and we lose the holder of the private keys during the ICO period - what is your contingency plan for that?

Thank you.

Very good questions. I am also suggesting before releasing the wallet , there should undergo strict testing for usage and security issues that may arise. There have been an increase of altcoins with built in hidden premine and backdoor trojans or keyloggers that needs to be addressed when it comes for the pesobit wallet.

The ICO announcement doesn't tell about refunding or the target of ICO fund.
For contingency planning, it seems impossible to plan for a fully response to all circumstances that happen to the Escrow. It's the same to other ICOs. For ex, The Escrow suddenly disappears for some reasons, dev team will not able to receive their ICO However they should release the tokens as scheduled. That's unfortunate for Dev team. It's hard to happen but in the world of boomed ICOs, anything could happen.

The fund ICO hasn't been much for the big project of Pesobit. However, that's enough for a good initial of the project and Devs are running the project enthusiastically so until now we could say that there won't be a refunding due to the volume of ICO fund.

Backdoor trojans, malwares have no standing in Pesobit. The project aims at widespreading Pesobit as a country-level representative cryptocurrency. Considering the benefit and profit, there's no reason for the team to be cheaters.

Pesobit chooses a reputable and trustful Escrow. There's no difference between the  Escrowing of Pesobit to other big ICOs running now. 

 

[Lutzow]

Hi, Dev. Why is my pesobit amount decreasing every time the value of it increases? Can someone help me please to answer this question? Thanks.

That is because of the increasing value of Pesobit. It means you can buy less with your bitcoins as price of Pesobits get higher. Price increases as people join the ICO. The final price and volume of your Pesobits will be finalized at the end of the ICO period.

You can also check out this one: http://blog.pesobit.net/2016/08/18/understanding-how-the-initial-coin-offering-works/

[Pioneer88]

Should the ICO page present the each investor's fund and estimated Pesobit, there would be more transparent news for new investors.

[Lutzow]

Should the ICO page present the each investor's fund and estimated Pesobit, there would be more transparent news for new investors.

The estimated Pesobit, investors fund and bonus is located in the Profile page of each investor.

[Pioneer88]

Should the ICO page present the each investor's fund and estimated Pesobit, there would be more transparent news for new investors.

The estimated Pesobit, investors fund and bonus is located in the Profile page of each investor.

It should be transparent to publish infos about investors such as biggest investors, top 10, top 100...These are interesting news that any investor wants to know.

[Lutzow]

Should the ICO page present the each investor's fund and estimated Pesobit, there would be more transparent news for new investors.

The estimated Pesobit, investors fund and bonus is located in the Profile page of each investor.

It should be transparent to publish infos about investors such as biggest investors, top 10, top 100...These are interesting news that any investor wants to know.

Ah ok, like Rise had it a sortable table for that. We'll see if we can have that added in.

[Lutzow]

Pesobit had its code reconfigured and a hard fork has been done in order for the staking upgraded from the typical Proof-of-Stake to Proof-of-Stake Participation coined from Crypto Bullion (CBX). This basically generates the holders by rewarding Staking Wallet owners who are more online which will encourage people to actively participate in the staking process which in turn creates a better network due to the number of nodes. We will activate staking in our wallets to test PoSP at work. While staking, Pesobit will shift to PoSP in around 2-3 days time. The new staked coins will not be burned but will just be added up to the bounties. One thing is for sure, the development fund will not go over the 3 million assigned to it.
All the activities in the blockchain including the staking and transfers will be seen in the blockchain explorer from chainz.cryptoid.info once proven that PoSP is working perfectly.
The new staked coins be less than if activated now until the end of the ICO will produce around 40,000 Pesobits more or less.

Happy Sunday everyone.

[coinhugger]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team. 

Can you provide us with this information?

[Pioneer88]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team. 

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

[Isolani159]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team. 

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

Lutzow is one of the most active member on bitcointalk.  He've posted more than 1700 posts which supply constructrive ideas until now. He's a business man and has a surprising enthusiasm on cryptocurrency.

About myself, a man follows the utopianism tenet, desires to bring the happiness to everyone.

[Lutzow]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team. 

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

Definitely yes, it will be provided during the course of the ICO together with other stuff like the wallets and github.
Once we're complete with PoSP transition, submitting to block explorer and exchange sites. The page will be updated.

[Pioneer88]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team. 

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

Definitely yes, it will be provided during the course of the ICO together with other stuff like the wallets and github.
Once we're complete with PoSP transition, submitting to block explorer and exchange sites. The page will be updated.

These infos when published will be good not only for the investors but also for your team so it should be available as soon as possible.

[Lutzow]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team. 

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

Definitely yes, it will be provided during the course of the ICO together with other stuff like the wallets and github.
Once we're complete with PoSP transition, submitting to block explorer and exchange sites. The page will be updated.

These infos when published will be good not only for the investors but also for your team so it should be available as soon as possible.

Yes it will. Thanks

[sweet bird]

I like this page aswell. May concern witb Ann. Best of luck for dev team

[coinhugger]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team. 

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

Definitely yes, it will be provided during the course of the ICO together with other stuff like the wallets and github.
Once we're complete with PoSP transition, submitting to block explorer and exchange sites. The page will be updated.

Ok, I don't see any reason why to delay the release of this info. The ICO has been going for two weeks already and people still don't know who's behind the project.

Even just a post here with real name and a bio would help already and takes just a few minutes, while you work on putting a page together with more elaborate info.  A nickname on bitcointalk is not identifiable information, regardless of how active a person is on the forum.

Was hoping to invest today, since it's the last day for 10% bonus, but I can't risk my money on a team in hiding.

[Lutzow]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team.  

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

Definitely yes, it will be provided during the course of the ICO together with other stuff like the wallets and github.
Once we're complete with PoSP transition, submitting to block explorer and exchange sites. The page will be updated.

Ok, I don't see any reason why to delay the release of this info. The ICO has been going for two weeks already and people still don't know who's behind the project.

Even just a post here with real name and a bio would help already and takes just a few minutes, while you work on putting a page together with more elaborate info.  A nickname on bitcointalk is not identifiable information, regardless of how active a person is on the forum.

Was hoping to invest today, since it's the last day for 10% bonus, but I can't risk my money on a team in hiding.

I understand, some investors know and met me in person already. I'm mostly busy transacting with non-Bitcointalk users and explaining to them how things work. Most of them are not even aware how ICO works or what an escrow is. I want to release full info instead of half-baked ones. I'd like the whole team to be displayed not just a few. Some on the Filipino community already know me but not the entire team yet. Unlike other ICOs that had info on their team can't even produce the wallets in time. But yes as I said many times it will be released with all the needed info. We just recently involved another dev who changed the staking to PoSP. But I think after this change, the team members will be finalized and posted publicly.

[hdn]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team.  

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

Definitely yes, it will be provided during the course of the ICO together with other stuff like the wallets and github.
Once we're complete with PoSP transition, submitting to block explorer and exchange sites. The page will be updated.

Ok, I don't see any reason why to delay the release of this info. The ICO has been going for two weeks already and people still don't know who's behind the project.

Even just a post here with real name and a bio would help already and takes just a few minutes, while you work on putting a page together with more elaborate info.  A nickname on bitcointalk is not identifiable information, regardless of how active a person is on the forum.

Was hoping to invest today, since it's the last day for 10% bonus, but I can't risk my money on a team in hiding.

I understand, some investors know and met me in person already. I'm mostly busy transacting with non-Bitcointalk users and explaining to them how things work. Most of them are not even aware how ICO works or what an escrow is. I want to release full info instead of half-baked ones. I'd like the whole team to be displayed not just a few. Some on the Filipino community already know me but not the entire team yet. Unlike other ICOs that had info on their team can't even produce the wallets in time. But yes as I said many times it will be released with all the needed info.

Hi Dev.. are you filipinos and leaving in Manila?

[Lutzow]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team.  

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

Definitely yes, it will be provided during the course of the ICO together with other stuff like the wallets and github.
Once we're complete with PoSP transition, submitting to block explorer and exchange sites. The page will be updated.

Ok, I don't see any reason why to delay the release of this info. The ICO has been going for two weeks already and people still don't know who's behind the project.

Even just a post here with real name and a bio would help already and takes just a few minutes, while you work on putting a page together with more elaborate info.  A nickname on bitcointalk is not identifiable information, regardless of how active a person is on the forum.

Was hoping to invest today, since it's the last day for 10% bonus, but I can't risk my money on a team in hiding.

I understand, some investors know and met me in person already. I'm mostly busy transacting with non-Bitcointalk users and explaining to them how things work. Most of them are not even aware how ICO works or what an escrow is. I want to release full info instead of half-baked ones. I'd like the whole team to be displayed not just a few. Some on the Filipino community already know me but not the entire team yet. Unlike other ICOs that had info on their team can't even produce the wallets in time. But yes as I said many times it will be released with all the needed info.

Hi Dev.. are you filipinos and leaving in Manila?

Mostly in Manila and pinoys.

[coinhugger]

Hello Dev Team,

I just found your project and it looks interesting. I studied your website as well as the OP and one of the first things I look for is who are the founders/developers. However, I couldn't find any public information such as a bio, LinkedIn, picture, work history or even a small introduction about the founders or developers which would give the project a lot more credibility. Before I throw a bitcoin or two into this I would like to see some real identifiable information about the team.  

Can you provide us with this information?

Two men appearing here seem to belong the team member. They are Lutzow who announced in the OP to be the core Dev, CEO and Isolani159 who said that he was advisor. The only infos about them just could be found here, on bitcointalk forum, could not be found anywhere else. They seem trustable.

Definitely yes, it will be provided during the course of the ICO together with other stuff like the wallets and github.
Once we're complete with PoSP transition, submitting to block explorer and exchange sites. The page will be updated.

Ok, I don't see any reason why to delay the release of this info. The ICO has been going for two weeks already and people still don't know who's behind the project.

Even just a post here with real name and a bio would help already and takes just a few minutes, while you work on putting a page together with more elaborate info.  A nickname on bitcointalk is not identifiable information, regardless of how active a person is on the forum.

Was hoping to invest today, since it's the last day for 10% bonus, but I can't risk my money on a team in hiding.

I understand, some investors know and met me in person already. I'm mostly busy transacting with non-Bitcointalk users and explaining to them how things work. Most of them are not even aware how ICO works or what an escrow is. I want to release full info instead of half-baked ones. I'd like the whole team to be displayed not just a few. Some on the Filipino community already know me but not the entire team yet. Unlike other ICOs that had info on their team can't even produce the wallets in time. But yes as I said many times it will be released with all the needed info.

Hi Dev.. are you filipinos and leaving in Manila?

Mostly in Manila and pinoys.

Ok, I'll have to pass up on this one then. An anonymous project gathering money from non-bitcointalk users who don't know how an ICO works or what escrow is. I guess there's a demographic of people in the Philippines that are in situations of poverty and willing to risk the little they have in hopes of profit.

Best of luck though, I may reconsider if transparent and verifiable team member identification takes place in the future.