[ANN] TagCoin - Multi Token Wallet and Trading Platform

[tagbond]

I bought all my coins over the last few years but stopped buying about a year ago - I have never sold any of my Tagcoins, but I have given quite a bit away as rewards here in Philippines. The price rise has been caused by Chinese investors, and a few of them have approached me to set up the Foundation in China and do a relaunch. But this was AFTER they had bought and the price was high. Untill as recently as last week I was not going to do it, due to possible problems with SEC here in Philippines. But if launched in China, then not so many issues. Of course those investors are going to benefit from a relaunched Tagcoin - they are in it to make money as much as anyone else but they have already invested a lot in buying existing Tagcoin.

I am considering pure PoS for relaunch, but I have to take that on advice to make sure it works out. If we leave it as 5% PoS, then for 10 billion coins issued at 1 cent, marketcap is $100m. I would prefer to keep the price low, and transactions low, because we and others are building applications using the blockchain. So if we leave the PoS at 5%, that generates 500 million new coins a year, some $5m of value, which the market has to absorb. Since reward rebates worldwide is a fairly substantial chunk of money, that is probably not so much of a problem, but if price of coin increases tenfold then that's a lot more to absorb.

Burning votes is a way to reduce the total amount of Tagcoin available but still working out if this is the best way or not, but it makes your point for whatever you are voting for. We will use it, for users with Tagcoin to express their voice, either for or against any funding to be given to a new app or startup. If I feel that a project is not good, i might spend $10 of coins to state that. The ones at the top would get the funding untill funding runs out or the Foundation raises more via other means to fund more startups. Those startups have to contract to give so much of their profit as rewards rebates, as a multiplier of any investment, which helps the circulation of TAG. If we can raise the amount of money then we can fund 500 to 1000 apps, which themselves generate thousands of Tagcoin users each, all of which is recorded via the TAG Api for tracking and public viewing. As for being voted off the board, it won't matter since I would be one of the multisig signers. i will vote for or against whatever projects I feel will benefit Tagcoin, and me personally of course since I hold a lot of Tagcoin. Holders of tagcoin will vote the same way, possibly spending their PoS income on this. Using Multisig wallets and a voting system that is public will help keep this transparent, but if you have any suggestions to make this a better system I am all ears. Just remember that we are in this to make money as well as try and solve a problem, namely the handling of small amounts of Reward Rebates, especially online via apps.

Just to let you know, ex executives from Antshares (Chinese equivalent of Ethereum) have come onboard in China as investors to the project, as well as the lead investor we are working with. All of the people involved will be announced and published on the Chinese / English website. Personally in Philippines, I will be approaching large institutional investors and VCs to buy Tagcoin in advance or priming them to buy when Token Sales start.

For existing Tagcoin holders, as an incentive to move to the new Coin, we will use the price of Tagcoin on the last trading day before ICO launch, and add something like 10% on top of new coins. If that price is $2, then you will get $2.20 of new coins at 1 cent each. No idea what the price will be, but it allows people to buy up whatever is out there and move them to the new coin.

We still have to get the OK of btc38.com to do this, and will be approaching other exchanges there to list for ICO, and trade as soon as the market cap is reached. Still not sure on the total amount to be raised either. When we have more concrete info, we will create the whitepaper for everyone to see.

This all looks good so far, but if it doesn't go ahead (maybe due to the Chinese throwing a spanner in the works re ICO launches), then we would have got a lot of action and interest in Tagcoin. I have been saying for the last 4 years I was in this for the long term, so now I think is the right time to move. As ny2cafuse says, the market is primarily Chinese, not USA. Ride the wave while it lasts..

[Dabs]

Let me know if you need escrow for the BTC portion. I've done a few others. If you'll accept ETH, then I'm sure you can have a dev work on a smart contract (or copy any of the more recent ICOs), but I would suggest not capping it or else you'll get 3 minute, or 3 hour ICOs; with the same network congestion problems they caused. 3 days isn't so bad, but usually ICOs were intended to last 30 to 60 days.

[tagbond]

There won't be any escrow for this - it will be done via automated script if not by smart contract, possibly using Antshares in China. As for the length of time, I think it will be 30 days at least, especially if we stick to $50m to $100m to raise. Essentially, we are raising a VC Fund with a difference, with a faster return for the investors, certainly more liquid, or they can use it within their own businesses as a reward rebate (Like PLDT or Globe for buying load). . I am not sure but I would think the price once traded would range between 1 cent and 10 cents. But who knows..

[Timelord2067]

There won't be any escrow for this - it will be done via automated script if not by smart contract, possibly using Antshares in China. As for the length of time, I think it will be 30 days at least, especially if we stick to $50m to $100m to raise. Essentially, we are raising a VC Fund with a difference, with a faster return for the investors, certainly more liquid, or they can use it within their own businesses as a reward rebate (Like PLDT or Globe for buying load). . I am not sure but I would think the price once traded would range between 1 cent and 10 cents. But who knows..

Hi and thanks for answering in detail my questions, I've been supporting Tag for a long time now here in the thread and as evidenced by my signature over the last year or more.

If Automated script means a web page where we enter the Wallet Address of our NewTagCoin Wallet and click a button and a unique "send to" OldTagCoin wallet address is generated - we then send our OTAG (1) and receive NTAG automatically (think shapeshift.io combined with bitmixer.io's automatically generated signed message ) (2) then that would be a fairly transparent method of exchanging OTAG for NTAG

• (after one confirmation to avoid double spending)
• ("signed message reading for example "We TagCoin foundation are receiving OldTAG to Wallet Address (generated) and will send (mathematical formula) to your NewTAG Wallet Address after (confirmations/stipulated time event)")

Kudos from Brisbane.

[tagbond]

After discussions overnight, we have decided not to do a relaunch of Tagcoin, but to create a new coin suitable for decentralized payments and advertising (using smart contracts) in Android apps within an appstore, to circumvent middlemen etc.

However, the same company that is being set up in China will be promoting Tagcoin there, as well as organizing a new coin ICO. To that end, we will be creating a Chinese version of Tagwild, push the Tag Trader exchange that is already live in the Tagcash Wallet App, and continue to market it as a rewards coin in China as well. Earning rewards and spending them is acceptable there as it is here in Philippines and elsewhere, but using a cryptocurrency to pay for goods and services in China is almost non existent. Alipay and Wechat have that market already.

The market is already rising in China for Tagcoin and now we are trading it in the exchange in Philippines for Pesos We can probably see it reaching $10, giving it a market cap of around $50 to $60m USD

[ny2cafuse]

After discussions overnight, we have decided not to do a relaunch of Tagcoin, but to create a new coin suitable for decentralized payments and advertising (using smart contracts) in Android apps within an appstore, to circumvent middlemen etc.

However, the same company that is being set up in China will be promoting Tagcoin there, as well as organizing a new coin ICO. To that end, we will be creating a Chinese version of Tagwild, push the Tag Trader exchange that is already live in the Tagcash Wallet App, and continue to market it as a rewards coin in China as well. Earning rewards and spending them is acceptable there as it is here in Philippines and elsewhere, but using a cryptocurrency to pay for goods and services in China is almost non existent. Alipay and Wechat have that market already.

The market is already rising in China for Tagcoin and now we are trading it in the exchange in Philippines for Pesos We can probably see it reaching $10, giving it a market cap of around $50 to $60m USD

So coin exchange for the new ICO coin, or no exchange?  If you're not doing the coin exchange to the new token, can you at least push for another exchange like bittrex to trade TAG again?  BTC38 won't generate a deposit address for me, and honestly I just want to be able to buy and sell TAG via BTC.

-Fuse

[tagbond]

Yes, I have emailed other exchanges, and novacoin and yobit were added, but theres no volume there..we will add it on tagcash.com via the apps and later the website..it's live for btc to pesos at the moment, and you can then withdraw pesos as bitcoin (a bit like they do in btc38 only they use Yuan). We are just adding the deposit via the app, or i can do it manually for the few days before we have it ready...should be ready to deposit TAG by the end of the week, but then again, only available on Android mobile devices at the moment. We are redoing the tagcash.com website, started development today and the first module we will add after the basic structure is the TAG Trader Module. We will be adding TAG/BTC as soon as we have the deposit and withdraw part done..Then we intend adding a lot more coins to the wallet, for trading and for spending throughout the other modules in the app. So you can have an auction and take TAG, or ETH or whatever.....we have a total of 30 modules in development..

As for a coin exchange between a new coin and TAG, certainly I will do that..

[Dabs]

Oh, its the new coin ICO that may possibly need escrow if you are accepting BTC. Accepting OldTag or ETH or any other alt (possibly through shapeshift or changelly) is different. Unless your system is similar to how Timelord2067 just described it like the mixers with signed messages.

[Timelord2067]

So coin exchange for the new ICO coin, or no exchange?  If you're not doing the coin exchange to the new token, can you at least push for another exchange like bittrex to trade TAG again?  BTC38 won't generate a deposit address for me, and honestly I just want to be able to buy and sell TAG via BTC.

-Fuse

I'm led to believe that Cryptopia.co.nz adds coins from time to time:

https://www.cryptopia.co.nz/Forum/Thread/1484

FAQ: How do I get a coin added to Cryptopia?

You can get a coin or token added to Cryptopia by using Paytopia https://www.cryptopia.co.nz/Paytopia

[tagbond]

I emailed cryptopia and they said too busy to add new coins, but for $18,500 USD you can pay to list...I think thats a bit steep..

[ny2cafuse]

I emailed cryptopia and they said too busy to add new coins, but for $18,500 USD you can pay to list...I think thats a bit steep..

Tag used to be on Bittrex, no?  They've got a slack and they are pretty responsive to coin devs on there.  I would say polo, but that would be a rollercoaster for TAG in price with the PNDs there.

-Fuse

[Timelord2067]

I emailed cryptopia and they said too busy to add new coins, but for $18,500 USD you can pay to list...I think thats a bit steep..

Tag used to be on Bittrex, no?  They've got a slack and they are pretty responsive to coin devs on there.  I would say polo, but that would be a rollercoaster for TAG in price with the PNDs there.

-Fuse

SexCoin paid to be on exchanges such as bleutrade and then after a while they removed the coin, so there's no guarantee even if you did pay to list that they would keep the coin (new or old) listed.

Your own exchange with a small number of mainstay coins plus new tag coin as well as old tag coin (plus some fiat) might have to be the way to go.

You could in that instance have one way old tag coin to new tag coin purchases at a discount to other crypto/fiat whereby you (Mark & co) end up buying out most if not all old tag coins in exchange for the newly released coin.

[tagbond]

We are not going to change Tagcoin or launch a new version of it or anything like that - it will continue as it is now, being marketed as a rewards coin and a blockchain we can build on. I am looking into creation of another coin which would need a different algorithm, for a different purpose but that's not linked to Tagcoin. We are making headway with different companies that are looking at offering Tagcoin as rebate rewards, so...interesting times. I also have a dozen app modules under development that use the TAG Blockchain. That's also fun to do..

We already have TAG Trader Exchange within the Android app, and we are playing with it at the moment, trading PHP for TAG - Once we add deposit and withdraw for TAG and BTC which will be within the next few days, then we will introduce BTC/TAG trading as well. Trading commission is quarter percent. We are redoing the tagcash.com website now as an Angular site feeding from our API, and we will add modules into that just like the app, which will also feature the TAG Trader.

In other news, a Chinese office has been set up, and a Chinese version of Tagcoin website is being done there. Marketing and PR is ongoing there

Over the next few days we are adding Chinese language into tagwild app, and currently testing web view to use google in china for the maps there. We have already switched from TEP points to Tagcoin within the app so users can earn TAG with real Proof of Work.....they have to walk around and visit places to capture TAGs and earn Tagcoin. We will also add basic wallet features into the game, so it will act as an offchain tagcoin wallet. This is fine on Android, but have to wait and see how Apple treats it. It may be that Apple will not allow it, then we will stay with the old points system for Apple only.

I have a coder working on the Tagcoin desktop wallets, with QT, and he is integrating Tagcash, so you can login from a menu and check your Tagcash balance of Tagcoin, send crypto to Tagcash, or withdraw directly back to the Tagcoin wallet. Been meaning to do that for a while, and the coders says it will take him a week to do. It's a soft upgrade, so it's optional.

That's all for now, I will be posting more regularly, as and when we have news.

[iTradeChips]

we attended a crypto meetup / seminar this evening and a guy who sounded australian / british talked about tagcoin. was that you tagbond?

[Dabs]

we attended a crypto meetup / seminar this evening and a guy who sounded australian / british talked about tagcoin. was that you tagbond?

tagbond is British. Did he have hair?

[Timelord2067]

we attended a crypto meetup / seminar this evening and a guy who sounded australian / british talked about tagcoin. was that you tagbond?

tagbond is British. Did he have hair?

My understanding is that Tagbond is from the Gold Coast (SEQ - Australia) but lives in the Philippines.

[tagbond]

I am British, and yes that was me at the crypto meetup the other evening, talking about using the TAG Blockchain to build apps on. And no hair, I shave it off every week.  

As for me coming from Australia, no....I am a Pom...but I lived in Brisbane for a quite a few years and still own property there. Been in Philippines almost 5 years.

[Dabs]

There's a pic of me, and him, and another guy (Wendell) here in this thread. He's got a nice condo. I still have the TAG RFID bracelet you gave me.

[tagbond]

Learning interesting stuff in China, from the guys that are supporting and marketing Tagcoin there. Apparently it matters a lot as to the price and numbers of a coin, and we also have to keep updating the software (or update on news, not quite sure), or the exchanges there say they may take over the coins and do it themselves.

My Chinese partners are suggesting that we increase the number of coins available by a factor of 100 (ie: move the decimal point 2 over). I am also in favor of making the coin PoS only, which encourages buying and holding for the interest. Personally I am now using Tagcoin in the Tagwild game, and I am using mTAGs to be won in the game. Moving the decimal point over means I would be back to giving away whole coins. I also don't want the price to be too high, since the transaction costs may be too much for us to build out the applications on the blockchain. The price will go down, but would probably increase after the upgrade. I didn't think the idea of having a whole coin was such a big thing, but in China apparently it is. Since that it is where it is traded mostly, and it suits my business, i am tempted to do this. Be good to get feedback from those still into Tagcoin in the western world tho..:-)

Just to be clear, we would not be issuing new coins - in your wallet you would just see 100x your coins - ie: if you had 100 Tagcoin, you would see it as 10,000. The total in circulation would then be 580 million coins instead of 5.8m as now.

[Timelord2067]

Have just recalled Nova Exchange does a coin swap service old block chain for new.

https://novaexchange.com/coinswap/

Something to keep in mind if you consider going one way over the other.