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Author Topic: [ANN] PayPie - Blockchain-Powered Risk Assessment  (Read 109365 times)
Islapdonkey
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September 09, 2017, 06:41:21 PM
Last edit: September 09, 2017, 06:52:20 PM by Islapdonkey
 #981

All internal payments will be managed using ERC20 compatible stable “Pie Coins” that are exchangeable for fiat and pegged 1:1 against major currencies to avoid exposure to fluctuations in the prices of cryptocurrencies.

Specifically I am curious how you can peg a crypto token to multiple major currencies at the same time. Pegging a token to a currency is something else than showing an exchange rate.

I quote The Merkle's article "What is a Pegged Cryptocurrency?":

It is vital to understand one cannot simply claim a coin or token is linked to the value of 1 US Dollar without enforcing this fact, though. To be more specific, the cryptocurrency project owners will need to have the specific amount of US Dollars in reserves at all times to guarantee the pegged value of their cryptocurrency.

 Hey rigorous remember that anyone can easily create an ERC20 token, i actually made several just for fun. But it's worth nothing, till you create a market for it. Thus the reason i insinuated that the token might only have internal use.

 Again this is just a guess on my part but as i aforementioned, due to SEC rules, the piecoin might have been conceived as an alternative to incentive Paypie customers/Paypie coin holders. Piecoin might be distributed as a form of dividend (note that i use the word a form to denote that its not an actual dividend) and the distribution could be exchanged on Paypie's platform for fiat. Since it's not the main coin associated with the project and only has internal use, i.e.( Paypie won't provide an exchange for it) this deflects any issue that the SEC rules might pose.
 
 As for pegging to multiple currencies, am guessing they will peg it to the currency that's currently worth the most, and use exchange rates from that currency to pay out on other currencies. Again, am just guessing and none of this should be considered viable till statement is obtained from an admin

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September 09, 2017, 06:42:17 PM
 #982

Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.

Am not a paypie employee but my guess is an internal coin is a coin that can't be traded by the public, it's only usage in within the paypie platform. Only paypie employee have control of the coin and the aforementioned coin cannot be transferred out of the platform. My guess is with the SEC involvement, and issues it created this is a way to incentive PPP token holders without dealing with the wrath created from issuing dividends.

It is my belief that the PayPie coin CAN be traded by the public (on exchanges), but it is worthless outside of the PayPie system.

It means that paypie coin will only be able to be used inside the PayPai platform, you won't find any other uses for I, you could trade it in exchanges because is a speculative coin I guess, but nothing more, that is a good thing, meaning that if a company want more, they simply must buy it from exchanges or the system.

Well that's a point most coins for a direct use will have as long as they are not build to be universal. But that's also a good think that you explained, because it gives a natural demand for it, as in the other direction no other coin can be used here and value will probably rise with time passing.

Are you guys even reading the post before answering or are you just aimlessly typing away just to say something. We not talking about Paypie coin which can be use on the platform and also traded on an exchange, instead we are talking about Piecoin which is an internal coin only viable on the Paypie platform. Please stop been lazy and read the post before making a comment.
so if i understand well there are 2 different thing paypie coin tradable on exchanges and piecoin internal tool of the platform is this right?...





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the_donald
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September 09, 2017, 07:07:55 PM
 #983

Can somebody from PayPie explain the concept of an "internal coin"? Otherwise these questions will continue to be repeated. There is little information about how that Pie Coin actually works.

Am not a paypie employee but my guess is an internal coin is a coin that can't be traded by the public, it's only usage in within the paypie platform. Only paypie employee have control of the coin and the aforementioned coin cannot be transferred out of the platform. My guess is with the SEC involvement, and issues it created this is a way to incentive PPP token holders without dealing with the wrath created from issuing dividends.

It is my belief that the PayPie coin CAN be traded by the public (on exchanges), but it is worthless outside of the PayPie system.

It means that paypie coin will only be able to be used inside the PayPai platform, you won't find any other uses for I, you could trade it in exchanges because is a speculative coin I guess, but nothing more, that is a good thing, meaning that if a company want more, they simply must buy it from exchanges or the system.

Well that's a point most coins for a direct use will have as long as they are not build to be universal. But that's also a good think that you explained, because it gives a natural demand for it, as in the other direction no other coin can be used here and value will probably rise with time passing.

Are you guys even reading the post before answering or are you just aimlessly typing away just to say something. We not talking about Paypie coin which can be use on the platform and also traded on an exchange, instead we are talking about Piecoin which is an internal coin only viable on the Paypie platform. Please stop been lazy and read the post before making a comment.
so if i understand well there are 2 different thing paypie coin tradable on exchanges and piecoin internal tool of the platform is this right?...

Correct.

It wouldn't make sense for the Paypie token to be pegged. it would turn off investors. it's good that they clarified that it was an internal coin that will be pegged.

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September 09, 2017, 07:16:05 PM
 #984

It wouldn't make sense for the Paypie token to be pegged. it would turn off investors. it's good that they clarified that it was an internal coin that will be pegged.
Actually the devs didnt clarified anything yet, its just a speculation here on forum. But since its a hot topic and kinda important aspect of the project, its essential that it gets explained.

Islapdonkey
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September 09, 2017, 07:33:44 PM
 #985

It wouldn't make sense for the Paypie token to be pegged. it would turn off investors. it's good that they clarified that it was an internal coin that will be pegged.
Actually the devs didnt clarified anything yet, its just a speculation here on forum. But since its a hot topic and kinda important aspect of the project, its essential that it gets explained.

Actually, you should have read the original whitepaper before making a statement. it was always stated on the whitepaper that Pie coin (an internal coin) not Paypie coin would be pegged. But due to efforts from individuals who rather make aimless uninformed post than read, the information got misconstrued.

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September 09, 2017, 08:17:47 PM
 #986

It wouldn't make sense for the Paypie token to be pegged. it would turn off investors. it's good that they clarified that it was an internal coin that will be pegged.
Actually the devs didnt clarified anything yet, its just a speculation here on forum. But since its a hot topic and kinda important aspect of the project, its essential that it gets explained.

I think that it was clearly explained.

"We are not pegging PPP against various currencies. There is an internal coins called "Pie Coin", that will be used to track the payments on the ledger...only this internal coins will be pegged. This is the coin that token holders will get income from.

So it was never intended to peg PPP and internal coin Pie coin will be pegged"
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September 09, 2017, 08:46:34 PM
 #987

This means you buy coins that can only be internalized on their platform?
or you get the PieCoin in addition to a PayPieCoin.
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September 09, 2017, 08:51:45 PM
 #988

What was your thinking process to choose ERC20 standard? Why not ERC223 on ETC chain for example which is more secure (https://github.com/ethereum/EIPs/issues/223) ?

Actually i wonder it too. Not just paypie, most of the icos using erc20. Has Erc223 has some diffuculty we don't know?

I would love to hear a dev, why they are choosing erc20 instead of erc223

Because of the many issues from explorers to exchanges.
Right now, now exchange supports ERC23 coins.
There's one coin named "Senderon" it's ERC23 but dev is having difficulty listing it on exchanges as they are not yet ready to upgrade.

Yep, forgot about the fact that it's really easy for exchanges to list ERC20 tokens.

And by the way, ETC is supported by a lot of whales which hope to push it at 100$ at the end of the year.

But there's no reason for such a pump, Ethereum is now widely adopted and used. Just watch the money put in ENS Domains  Smiley

Sorry for asking but what are the main differences between both ERC20 and ERC223? I am not really familiar with the all the technical details so I would be happy if someone could sum that up in a few sentences. More security is always nice to have.
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September 09, 2017, 09:00:02 PM
 #989

Paypie Team had been very busy at the event. There was a lot of interest in the blockchain accounting and how we will be using it to solve real life business problems. Everyone was very excited to see this coming.





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September 09, 2017, 09:04:59 PM
 #990


I think your work will pay off. market gap identified and closed.
that project will be huge.

I am very curious how this develops.

promising
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September 09, 2017, 09:07:59 PM
 #991

INTERVIEW SCHEDULED!

Hi everybody, I have an interview scheduled with Nick Chandi, CEO of PayPie. Please message me questions and comments you have about PayPie to add to our list of things to discuss. Interview is on Thursday so lets make sure we have a great list to make it as efficient as possible for Nick!!

@AndreasBTC on twitter
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Thanks

EPIC5k Trading on https://spectre.ai/?ref=PassiveIncome. Paying WEEKLY rewards in ETH since 2017. 100% FRAUD FREE Binary Trading Platform. $SXDT. Ask me about the ONLY smart options trading platform with 400% payouts, and their unique EPIC5000 trading system.
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September 09, 2017, 09:08:32 PM
 #992

Paypie Team had been very busy at the event. There was a lot of interest in the blockchain accounting and how we will be using it to solve real life business problems. Everyone was very excited to see this coming.


News from the expo! Very nice! How was the common first reaction when someone heard about PAYPie and the merging of accounting and blockchain technology? Was it hard to convince them of the advantages such a platform will bring?

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September 09, 2017, 09:35:35 PM
 #993

Paypie Team had been very busy at the event. There was a lot of interest in the blockchain accounting and how we will be using it to solve real life business problems. Everyone was very excited to see this coming.





Great news guys! I hope that you will meet some big whale who will invest in paypie as an institutional investor?
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September 09, 2017, 09:39:59 PM
 #994

Nice to see the picture of the expo. I woulb be here to see that !
The event seems to be very interesting for paypie, the hard work of paypie team has paid. The blockchain accounting and application is a disruptive project, lot of people want to learn more about that.
I think with the visibility paypie has, the way the team handle the ico and the technologie they provide, we will see a wonderfull sucess here !
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September 09, 2017, 09:50:09 PM
 #995

Do you already have something like an MVP?



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September 09, 2017, 09:56:38 PM
 #996

INTERVIEW SCHEDULED!

Hi everybody, I have an interview scheduled with Nick Chandi, CEO of PayPie. Please message me questions and comments you have about PayPie to add to our list of things to discuss. Interview is on Thursday so lets make sure we have a great list to make it as efficient as possible for Nick!!

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Niceee, it will be live streaming?
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September 09, 2017, 10:05:43 PM
 #997

Do you already have something like an MVP?
You mean a minimum viable product? As far as I know they are currently developing in the background and will launch the PayPie platform with realtime credit risk analysis features in Q1 2018. 50% of the platform is already developed, including the entire end-user accounting part of the software.


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September 09, 2017, 10:06:41 PM
 #998

INTERVIEW SCHEDULED!

Hi everybody, I have an interview scheduled with Nick Chandi, CEO of PayPie. Please message me questions and comments you have about PayPie to add to our list of things to discuss. Interview is on Thursday so lets make sure we have a great list to make it as efficient as possible for Nick!!

@AndreasBTC on twitter
BTCBusinessconsult@gmail.com

Thanks

Sent you a question.

Nice to see the team had a good time at the expo. Hope you guys had time to pitch the product to potential clients, not only talk to potential investors  Grin

yeswepump
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September 09, 2017, 10:25:24 PM
 #999

Nice to see the picture of the expo. I woulb be here to see that !
The event seems to be very interesting for paypie, the hard work of paypie team has paid. The blockchain accounting and application is a disruptive project, lot of people want to learn more about that.
I think with the visibility paypie has, the way the team handle the ico and the technologie they provide, we will see a wonderfull sucess here !

man I wanted to comment exactly the same.

How much of your crypto portfolio will you invest into this ICO?

bitsurfer2014
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September 09, 2017, 10:50:23 PM
 #1000

Paypie Team had been very busy at the event. There was a lot of interest in the blockchain accounting and how we will be using it to solve real life business problems. Everyone was very excited to see this coming.


News from the expo! Very nice! How was the common first reaction when someone heard about PAYPie and the merging of accounting and blockchain technology? Was it hard to convince them of the advantages such a platform will bring?


It's great to see that PAYPIE's team are working hard on events like this to market the PLATFORM. This only shows that they committed and serious with regards to PAYPIE's mission.
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