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

[care2yak]

Nice.. troll is gone , maybe busy filming his twerk video for 25k psb

Well hallelujah! He's just waiting for someone to give him psbs!    

But enough about him. I have a different dilemma. I've been coaching friends and relatives in Ph and elsewhere about purchasing psb at ccex since it is the only "decent" exchange I know of that trades psb -- after cryptopia. The problem is that there's something strange going on in that exchange when depositing btc in the deposit address and I myself have experienced this just recently.

While there was just 1 confirmation displayed on the deposit panel (we need at least 2 confirmations for the deposit to reflect in our balance), this confirmation number coincided with that displayed on blockchain.info (I have the habit of checking balance transfers through blockchain.info or blockr.io) but the funds were already being moved elsewhere. Take note, the funds have not yet reflected in my balance so how can they be moved elsewhere, right? Refer to screenshots:





I never use the same deposit address twice. I always generate a new address when making a new deposit. So the address I used was newly generated.

The ccex thread here at bct has reports of lost funds, some described incidents similar to mine. The only difference is that, I waited (panic-stricken) until I had two confirmations so the balance would appear on my panel, and then traded them for psb right away - else it actually gets moved out of my balance once the address it was being moved to received a confirmation.

I sent a ticket to support and also sent the ccex user in this forum a rundown of the incident. No answer regarding the incident just that the funds have been credited to my balance. So what's the point of me sharing this here? We need to get into a more decent or reputable exchange. Hope Lutzow can update us about that too.

Just a word of advice when making a deposit at ccex, track your deposit via blockchain.info or blockr.io and take screenshots. You'll be needing proof in case you experience a similar incident.

[Dabs]

That's probably the exchange allowing someone else to withdraw funds, or moving them around.

[care2yak]

That's probably the exchange allowing someone else to withdraw funds, or moving them around.

I agree. They have control over the addresses generated there. It's an inside job because if it were someone else other than them, I would've received a confirmation email for a withdrawal. And the deposit was not fully confirmed yet but it was being moved already. I once had the impression that they were decent but now....

[Pesobit-Central]

But enough about him. I have a different dilemma. I've been coaching friends and relatives in Ph and elsewhere about purchasing psb at ccex since it is the only "decent" exchange I know of that trades psb -- after cryptopia. The problem is that there's something strange going on in that exchange when depositing btc in the deposit address and I myself have experienced this just recently.

While there was just 1 confirmation displayed on the deposit panel (we need at least 2 confirmations for the deposit to reflect in our balance), this confirmation number coincided with that displayed on blockchain.info (I have the habit of checking balance transfers through blockchain.info or blockr.io) but the funds were already being moved elsewhere. Take note, the funds have not yet reflected in my balance so how can they be moved elsewhere, right? Refer to screenshots:

I never use the same deposit address twice. I always generate a new address when making a new deposit. So the address I used was newly generated.

The ccex thread here at bct has reports of lost funds, some described incidents similar to mine. The only difference is that, I waited (panic-stricken) until I had two confirmations so the balance would appear on my panel, and then traded them for psb right away - else it actually gets moved out of my balance once the address it was being moved to received a confirmation.

I sent a ticket to support and also sent the ccex user in this forum a rundown of the incident. No answer regarding the incident just that the funds have been credited to my balance. So what's the point of me sharing this here? We need to get into a more decent or reputable exchange. Hope Lutzow can update us about that too.

Just a word of advice when making a deposit at ccex, track your deposit via blockchain.info or blockr.io and take screenshots. You'll be needing proof in case you experience a similar incident.

Did your deposit finally arrive? Please paste in the TXid if you want me to look at the transaction...

So far my only problem when depositing to C-Cex has been how slow deposits are to arrive; but that's Bitcoin's fault.

[care2yak]

Did your deposit finally arrive? Please paste in the TXid if you want me to look at the transaction...

So far my only problem when depositing to C-Cex has been how slow deposits are to arrive; but that's Bitcoin's fault.

The deposit did arrive the moment it hit 2 confirmations. My thinking was that, if my funds were already being moved, I'd lose them the moment the address it was being sent to recieved a confirmation. So what I did was trade it to psb right away. I used to place buy orders, but at that time, I just bought whatever amount was being sold.

My deposit address was 178yte65eTdQvDAjja2r2M3QA9hXDHzqW2

Just paste that address at blockchain.info or blockr.io and it'll show you transactions for that particular address. I'll be purchasing more psbs but i find it risky to do another transaction at ccex until I receive word from them first about this incident. Haven't received any from them thus far.

I think checking on this transaction now would not be able to show you anything other than the transactions made have been confirmed.

But what's curious is the interval with which the transactions were made. Remember, my deposit just had 1 confirmation and the picture blockchain.info showed me was that two transactions had already been made by my current address - even though the funds had not yet reflected in my balance.

Had I not traded my btc right away, would that deposit have stayed in my account?

[Dabs]

I don't speak for CCEX, but as I said, they are simply moving your funds around, or allowing someone else to withdraw their balances. I do not see any issue there. It's not an "inside job", they are just moving your deposits.

You don't lose anything as long as the exchange credits your deposit.

[Pesobit-Central]

Had I not traded my btc right away, would that deposit have stayed in my account?

An exchange Bitcoin (or any crypto) address belongs to the exchange, not to you, as it is them who control the matching private key. If the exchange closes you cannot do anything with this address.

When you send Bitcoin to an exchange receiving address, what matters to you is that this entry is recorded in their internal (centralised) database, which is what you see in your account when you log in. From that point on, anything can happen to your receiving address, what matters is that it won't impact your records in their internal database; your posessions become strictly what is entered in their database.

I really recommend not leaving crypto or Bitcoin at any exchange, for many reasons; centralisation is one of these reasons.

[bitwarrior]

Nice.. troll is gone , maybe busy filming his twerk video for 25k psb

Well hallelujah! He's just waiting for someone to give him psbs!    

But enough about him. I have a different dilemma. I've been coaching friends and relatives in Ph and elsewhere about purchasing psb at ccex since it is the only "decent" exchange I know of that trades psb -- after cryptopia. The problem is that there's something strange going on in that exchange when depositing btc in the deposit address and I myself have experienced this just recently.

While there was just 1 confirmation displayed on the deposit panel (we need at least 2 confirmations for the deposit to reflect in our balance), this confirmation number coincided with that displayed on blockchain.info (I have the habit of checking balance transfers through blockchain.info or blockr.io) but the funds were already being moved elsewhere. Take note, the funds have not yet reflected in my balance so how can they be moved elsewhere, right? Refer to screenshots:





I never use the same deposit address twice. I always generate a new address when making a new deposit. So the address I used was newly generated.

The ccex thread here at bct has reports of lost funds, some described incidents similar to mine. The only difference is that, I waited (panic-stricken) until I had two confirmations so the balance would appear on my panel, and then traded them for psb right away - else it actually gets moved out of my balance once the address it was being moved to received a confirmation.

I sent a ticket to support and also sent the ccex user in this forum a rundown of the incident. No answer regarding the incident just that the funds have been credited to my balance. So what's the point of me sharing this here? We need to get into a more decent or reputable exchange. Hope Lutzow can update us about that too.

Just a word of advice when making a deposit at ccex, track your deposit via blockchain.info or blockr.io and take screenshots. You'll be needing proof in case you experience a similar incident.

This kind of scenario happens as well with coins.ph

[care2yak]

I don't speak for CCEX, but as I said, they are simply moving your funds around, or allowing someone else to withdraw their balances. I do not see any issue there. It's not an "inside job", they are just moving your deposits.

You don't lose anything as long as the exchange credits your deposit.

I'd like to believe that they were simply moving it to accommodate some other user's withdrawal and that my deposit would still be intact. But their thread has similar instances of a deposit made and lost because they were moved without the owner of the funds trading them off or making a withdrawal. Their reports were unresolved by the exchange.

Ccex, in my opinion (previously) is a pretty good medium-tiered exchange although I've always favored Cryptopia when trading psb. Too bad they did what they did. And I've made a number of deposits with ccex already and always checking them in the blockchain, but Monday's deposit was an exception and it was alarming. If only I was affluent enough to experiment on a $400+ deposit, and having the same scenario happen all over again, I'd watch and see if the funds would stay in my balance or not. And if I decide to withdraw them without trading them to an alt, would the bitcoins be released to my withdrawal address...? But I'm not rich so I can't risk that much amount of bitcoins just to prove some shady exchange's actions of moving funds around. So I won't know for sure, right? They should let their users know that they can do this and assure them that their funds are intact. And I'm still praying we get psb to a reputable higher tiered exchange so other psb supporters won't risk loss of funds due to exchange manipulations.

[care2yak]

Update. Got an answer from ccex already and Sir Dabs was right. But I left an argument anyway because I think that it is valid and requires a reply.

This is how *cryptocoin wallets work. Addresses are just for identyfying account on exchange and not matter address is cleared if funds credited. For example, if you withdraw, you will receive from different addresses than deposited.

Maybe they should be care about spending not fully confirmed transactions but it is separate from trading system.

Don't worry. Your money is probably safe, if not - not because of this.

I made another bitcoin deposit today

Yes - you have correct answers above. As we require 2 confirmations to post BTC to your balance our wallet needs only one and start using your coins for withdrawals. It does not mean we use your C-CEX balance for that. It's different things. So you of course got your deposit according to BTC amount in this transaction to C-CEX balance and you are able to trade it or withdraw when you need.

Provided that the exchange can use our balance and our only source for tracking our transaction is through the blockchain, and hypothetically speaking, our funds just disappear. Then we have no way of tracking and justifying our balance because the blockchain is saying you have zero balance.

So if I didn't trade my btc deposit to an alt, and I decide to move my btc to a different btc address, how in the world would my current ccex btc address display that transfer when the picture blockchain.info showed me was that a transfer already took place?

So I'm not saying that we should stop transacting with them, but just do the necessary steps to protect yourself like take screenshots for reference. After all, there's no other exchange for psb just yet with higher trading volumes other than CCEx and Novaexchange. I'm not a fan of Yobit. Sorry.

[Pesobit-Central]

So I'm not saying that we should stop transacting with them, but just do the necessary steps to protect yourself like take screenshots for reference. After all, there's no other exchange for psb just yet with higher trading volumes other than CCEx and Novaexchange. I'm not a fan of Yobit. Sorry.

Ok safety always first; keep tabs on your txids, don't leave coin at any exchange. Other than that, C-Cex is pretty much the same as all the other exchanges I know of. It's all internal transactions.

These BTC movements are normal - the case is nobody should leave BTC or PSB at the exchange once the transaction has been made anyways - just withdraw everything, and stake!

[sunny78]

Nice.. troll is gone , maybe busy filming his twerk video for 25k psb

Well hallelujah! He's just waiting for someone to give him psbs!    

But enough about him. I have a different dilemma. I've been coaching friends and relatives in Ph and elsewhere about purchasing psb at ccex since it is the only "decent" exchange I know of that trades psb -- after cryptopia. The problem is that there's something strange going on in that exchange when depositing btc in the deposit address and I myself have experienced this just recently.

While there was just 1 confirmation displayed on the deposit panel (we need at least 2 confirmations for the deposit to reflect in our balance), this confirmation number coincided with that displayed on blockchain.info (I have the habit of checking balance transfers through blockchain.info or blockr.io) but the funds were already being moved elsewhere. Take note, the funds have not yet reflected in my balance so how can they be moved elsewhere, right? Refer to screenshots:





I never use the same deposit address twice. I always generate a new address when making a new deposit. So the address I used was newly generated.

The ccex thread here at bct has reports of lost funds, some described incidents similar to mine. The only difference is that, I waited (panic-stricken) until I had two confirmations so the balance would appear on my panel, and then traded them for psb right away - else it actually gets moved out of my balance once the address it was being moved to received a confirmation.

I sent a ticket to support and also sent the ccex user in this forum a rundown of the incident. No answer regarding the incident just that the funds have been credited to my balance. So what's the point of me sharing this here? We need to get into a more decent or reputable exchange. Hope Lutzow can update us about that too.

Just a word of advice when making a deposit at ccex, track your deposit via blockchain.info or blockr.io and take screenshots. You'll be needing proof in case you experience a similar incident.

This kind of scenario happens as well with coins.ph

I also experience same situation, but in the end as long the 2 confirmation end it will credit to your wallet.

[sunny78]

What can we expect from the e-wallet in terms of functionality in the first few days after the launch Lutzow?

It is good to know and what to expect or update regarding the ewalletph. There are few ICO member already register and join to the BETA testing. The features inside of ewallet it is "All in one payment solution"

*eWallet
* Payment
*Account
*network

I'm too much excited to launching of ewalletph.

[Golftech]

What can we expect from the e-wallet in terms of functionality in the first few days after the launch Lutzow?

It is good to know and what to expect or update regarding the ewalletph. There are few ICO member already register and join to the BETA testing. The features inside of ewallet it is "All in one payment solution"

*eWallet
* Payment
*Account
*network

I'm too much excited to launching of ewalletph.

it will bring good movements for psb's value the more people who get attached and been informed about how the service works the more
interest will bring them to embrace the system much better value for their hard earn money lets see those Filipino's that will be first users
of this services.

[Lutzow]

Before we end work week here in the Philippines due to long holidays brought in by the Lenten Season, we're now opening the E-Wallet platform to the public. You can register over at https://ewalletph.vmoney.com/
This will be in BETA stage for now.
Notes:
1) Anyone can register either using their Email address or Mobile number (works Internationally).
2) For ID verification, outside Philippine ID will work but under VMoney's approval.
3) This is not yet connected to the Pesobit Online Wallet but is already working as a money transfer tool, bills payment, buy mobile load credits etc.
4) In the Pesobit Online Wallet, there will be an Encash option that will allow you to enter your ewallet registered account (email address/mobile etc). It will be credited to your account in 24-48 hours in Philippine Peso value using the Pesobit rate at the time of withdrawal.  ETA will be this month.
5) There are different charges per services offered including withdrawals charged by VMoney but the cheapest way to withdraw is the Manual option via a checkbox in the withdrawal section.
6) The difference of this platform vs the others will be the low buying and selling difference/spread that will be implemented soon.
7) There will be a referral system giving out Php10 per ID verified users to be passed on to your accounts next week.

Again, this is not yet the final Pesobit <-> Philippine Peso platform as we will still be working on cheaper options in the future.

Another 3rd Party Fund Manager joined the 3rd Party Investment program as well, details can be found in the Online wallet at https://wallet.pesobit.net

[sunny78]

Before we end work week here in the Philippines due to long holidays brought in by the Lenten Season, we're now opening the E-Wallet platform to the public. You can register over at https://ewalletph.vmoney.com/
This will be in BETA stage for now.
Notes:
1) Anyone can register either using their Email address or Mobile number (works Internationally).
2) For ID verification, outside Philippine ID will work but under VMoney's approval.
3) This is not yet connected to the Pesobit Online Wallet but is already working as a money transfer tool, bills payment, buy mobile load credits etc.
4) In the Pesobit Online Wallet, there will be an Encash option that will allow you to enter your ewallet registered account (email address/mobile etc). It will be credited to your account in 24-48 hours in Philippine Peso value using the Pesobit rate at the time of withdrawal.  ETA will be this month.
5) There are different charges per services offered including withdrawals charged by VMoney but the cheapest way to withdraw is the Manual option via a checkbox in the withdrawal section.
6) The difference of this platform vs the others will be the low buying and selling difference/spread that will be implemented soon.
7) There will be a referral system giving out Php10 per ID verified users to be passed on to your accounts next week.

Again, this is not yet the final Pesobit <-> Philippine Peso platform as we will still be working on cheaper options in the future.

Another 3rd Party Fund Manager joined the 3rd Party Investment program as well, details can be found in the Online wallet at https://wallet.pesobit.net

Wow ,,,great great news. Sir, how about this " To fully verify your account, members must undergo video verification via vChat. Our Customer Support will reach out to you via email to schedule your video call."

[cryptodv]

Before we end work week here in the Philippines due to long holidays brought in by the Lenten Season, we're now opening the E-Wallet platform to the public. You can register over at https://ewalletph.vmoney.com/
This will be in BETA stage for now.
Notes:
1) Anyone can register either using their Email address or Mobile number (works Internationally).
2) For ID verification, outside Philippine ID will work but under VMoney's approval.
3) This is not yet connected to the Pesobit Online Wallet but is already working as a money transfer tool, bills payment, buy mobile load credits etc.
4) In the Pesobit Online Wallet, there will be an Encash option that will allow you to enter your ewallet registered account (email address/mobile etc). It will be credited to your account in 24-48 hours in Philippine Peso value using the Pesobit rate at the time of withdrawal.  ETA will be this month.
5) There are different charges per services offered including withdrawals charged by VMoney but the cheapest way to withdraw is the Manual option via a checkbox in the withdrawal section.
6) The difference of this platform vs the others will be the low buying and selling difference/spread that will be implemented soon.
7) There will be a referral system giving out Php10 per ID verified users to be passed on to your accounts next week.

Again, this is not yet the final Pesobit <-> Philippine Peso platform as we will still be working on cheaper options in the future.

Another 3rd Party Fund Manager joined the 3rd Party Investment program as well, details can be found in the Online wallet at https://wallet.pesobit.net

Awesome news, kept it up!

[revenant2017]

Before we end work week here in the Philippines due to long holidays brought in by the Lenten Season, we're now opening the E-Wallet platform to the public. You can register over at https://ewalletph.vmoney.com/
This will be in BETA stage for now.
Notes:
1) Anyone can register either using their Email address or Mobile number (works Internationally).
2) For ID verification, outside Philippine ID will work but under VMoney's approval.
3) This is not yet connected to the Pesobit Online Wallet but is already working as a money transfer tool, bills payment, buy mobile load credits etc.
4) In the Pesobit Online Wallet, there will be an Encash option that will allow you to enter your ewallet registered account (email address/mobile etc). It will be credited to your account in 24-48 hours in Philippine Peso value using the Pesobit rate at the time of withdrawal.  ETA will be this month.
5) There are different charges per services offered including withdrawals charged by VMoney but the cheapest way to withdraw is the Manual option via a checkbox in the withdrawal section.
6) The difference of this platform vs the others will be the low buying and selling difference/spread that will be implemented soon.
7) There will be a referral system giving out Php10 per ID verified users to be passed on to your accounts next week.

Again, this is not yet the final Pesobit <-> Philippine Peso platform as we will still be working on cheaper options in the future.

Another 3rd Party Fund Manager joined the 3rd Party Investment program as well, details can be found in the Online wallet at https://wallet.pesobit.net

Great update Lutzow! I already tested it. I'm a bit disappointed cause i thought there would be options for Pesobit to Philippine peso conversion.

Just one suggestion. Would it be better if this is removed? It's helpful though but for mobile users only.
http://imgur.com/a/YcHH3

[Noojna]

Great update Lutzow! I already tested it. I'm a bit disappointed cause i thought there would be options for Pesobit to Philippine peso conversion.

Just one suggestion. Would it be better if this is removed? It's helpful though but for mobile users only.
http://imgur.com/a/YcHH3

Pesobit to Peso php is the essence of e-wallet.ph and wallet.pesobit.net; they will work hand in hand to allow this functionality, it's the whole idea of e-wallet.ph... you just can't see it in this test version.

[Murat]

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