[ANNOUNCE] paccoin a new SHA256D coin is being introduced

[Jaycee_nl]

Hello,

Is it confirmed that a fork will take place?  I currently have PACCs left on the exchange. Do I need to move them to a personal wallet for the coin swap?

No you do not have to transfer them to a personal wallet. You will have to transfer your current coins to a “redemption address”. You will get new coins in return. More details about what exactly to do will follow, keep your eyes on the paccoin website.

No one will loose value, calculated in dollars.

Example: if you now have 10,000,000 coins worth 400 dollar (0.00004 dollar each), after redemption you will have 10,000 coins, stil worth 400 dollar (0.04 dollar each). The current supply of about 3,400,000,000,000 will drop to 3,400,000,000 but will be worth the same amount in Dollars, just before and just after the redemption.

Redemption is a necessary step to make this coin a true competitor to the other coins, and my guess is this will show off later this year. Crypto coins are stil just in their early stage, but many companies will make
it possible in the near future to pay with crypto coins, but only the coins that are technically “correct” will be usable. Currently I am waiting for more information from the DEV team. If they make clear who they are and continue the way they did last weeks (just look at what they established), they are on top of a potential gold mine. So is everyone who owns paccoin.

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[toogoodtobetrue]

where can I keep PACCOIN to get new PAC on March 1st?

[Jaycee_nl]

where can I keep PACCOIN to get new PAC on March 1st?

Hi you can keep them where you have them now, just read my previous post for more information. 

[cecilia1]

Hello,

Is it confirmed that a fork will take place?  I currently have PACCs left on the exchange. Do I need to move them to a personal wallet for the coin swap?

No you do not have to transfer them to a personal wallet. You will have to transfer your current coins to a “redemption address”. You will get new coins in return. More details about what exactly to do will follow, keep your eyes on the paccoin website.

No one will loose value, calculated in dollars.

Example: if you now have 10,000,000 coins worth 400 dollar (0.00004 dollar each), after redemption you will have 10,000 coins, stil worth 400 dollar (0.04 dollar each). The current supply of about 3,400,000,000,000 will drop to 3,400,000,000 but will be worth the same amount in Dollars, just before and just after the redemption.

Redemption is a necessary step to make this coin a true competitor to the other coins, and my guess is this will show off later this year. Crypto coins are stil just in their early stage, but many companies will make
it possible in the near future to pay with crypto coins, but only the coins that are technically “correct” will be usable. Currently I am waiting for more information from the DEV team. If they make clear who they are and continue the way they did last weeks (just look at what they established), they are on top of a potential gold mine. So is everyone who owns paccoin.

But the coin value it determined by the market. How can new paccoin value 0.04 dollar each if no one wants to buy it at that price, but 0.004$?

[Jaycee_nl]

I used 0,00004 and 0,04 as an EXAMPLE. I used these amounts because the current price per paccoin is 0,00004. Main issue is that 400 dollar just before redemption will be 400 dollar after redemption.

[cecilia1]

I used 0,00004 and 0,04 as an EXAMPLE. I used these amounts because the current price per paccoin is 0,00004. Main issue is that 400 dollar just before redemption will be 400 dollar after redemption.

I know, I meant if the coin valued 0,00004$ before the swap, it is still uncertain that new coin will value 0,04$ after the swap. People can lose profit due to that.

[Jaycee_nl]

Yes nothing is certain in crypto world, but the redemption has a very good reason: technically the new coin will be much better and ready for applications. So if people are willing to pay 400 euro for a certain percentage of total supply before the swap, they should be willing to pay 400 euro for having exactly the same percentage of the total supply after the swap. Or actually: they should be willing to pay much more because after the redemption because the coin is much better. With regards to the redemption, people should not think in price per coin, but in price per percentage of total supply. And that percentage stays exactly the same directly after the swap.

[Proxima Centauri]

I used 0,00004 and 0,04 as an EXAMPLE. I used these amounts because the current price per paccoin is 0,00004. Main issue is that 400 dollar just before redemption will be 400 dollar after redemption.

I know, I meant if the coin valued 0,00004$ before the swap, it is still uncertain that new coin will value 0,04$ after the swap. People can lose profit due to that.

That's exactly what I don't understand! We all bought Pac's cause it was very very cheap, I'm not sure I would jump in if it was 0.04$

[Moeloe]

the new coins will use new names or same name ?

some people say pacco in Italian is not have good meaning

If a new name, I would suggest something like PacCoin+.

But let's wait and see the dev team's answer

they will keep the same name. everything you want to know is on the website

paccoin.net

[igorsantos]

Can this coin be mined yet? 

[jimbonda]

Can this coin be mined yet? 

No.
See the faq here
https://paccoin.net/faq

[LifesChewable]

Can someone please explain why it was said not to trade PAC for another coin? Here is the post I am referring to: https://paccoin.net/chapter-2-breaking-though

Does this mean we can't even trade it to a coin that can be liquidated if PAC's value goes up?

please grab a calculator and calculate the value of PAC in Doge against BTC and try to figure out if its worth 1SAT. If you are not abled to do this math please go back to school and quit trading until you finished at least the math class.

BR

Why so hostile?

[doc_pan]

I used 0,00004 and 0,04 as an EXAMPLE. I used these amounts because the current price per paccoin is 0,00004. Main issue is that 400 dollar just before redemption will be 400 dollar after redemption.

I know, I meant if the coin valued 0,00004$ before the swap, it is still uncertain that new coin will value 0,04$ after the swap. People can lose profit due to that.

That's exactly what I don't understand! We all bought Pac's cause it was very very cheap, I'm not sure I would jump in if it was 0.04$

It was cheap because the market cap was nothing compared to the circulating supply of 3.3 trillion... Do people not know math? It's simple market cap divided by 3.3 trillion supply. That gives you a very very cheap coin because there is no scarcity. What that ALSO means however is that it will require a MASSIVE increase in market cap for the price to head toward even 1 cent at the current levels, let alone something along the lines of an Ethereum, which has a supply that is vastly lower.

By cutting the supply to 3 billion the devs will ensure the coin can hit the $1 mark more easily and therefore get more attention from mainstream investors. Seriously people, this isn't that complicated..

If this is still unclear, I'll try spell it out more: once all the PacCoin holders trade their old tokens in for the new ones whilst the number of tokens will decrease by 3 zeroes, the VALUE of these tokens will remain the same as the market capitalisation for the whole network has remained the same.

This new scarcity, combined with the work being put into the revamped project, will see the coin open on new exchanges and gain more attention - hence increasing the overall market cap and raising the price quickly.

[doc_pan]

There is a massive boom going on with all C currencies right now. If you look at most coins like Ripple, Stellar,  Cardano and so on you can see on the price charts the past 2 years they were floating out in the abyss but since Nov/Dec everyone its skyrocketing and people are looking for the next micro currency to throw 200$ in hopes of becoming a millionaire.

What makes PACCOIN worth 100 billion dollars?? Thats what the company would be worth if the coin went up to 1$ after the fork. No way...!!!  In fact you wouldn't even be able to pull your money out as there would be a rush to cash in from the thousands of people who all own 5 million or more Paccoin. I would like these guys more if they actually had a website with a clear vision, profiles of the people working at the company and maybe an address but they don't even have that. This one smells fishy, but hey they have sold many coins on their website so who knows maybe the jokes on us?

Talk about FUD... did you sign up just to post that?

There is a new website coming that will have a whitepaper from what I've read. That's part of what attracted me to this coin - I bought in when the market cap was under 10 million just as a light speculative bet after reading about there being a new dev team and seeing how long the coin had been around for. I didn't buy much - around $50 worth, but that little punt is now worth around $3k.

Also, they don't have to reach 100bn to get to 1 dollar - they have to reach 3bn because that will be the circulating supply. 100bn is the total capped supply with future mining taken into account.

Ultimately the crypto market is still incredibly nascent and whether you can see the point of all these tokens from the outset is kinda beside the point - money is rushing in, so it's a smart play to at least buy up a little bit of coins with very low market caps, some history and a clear potential for growth.

[sleemov]

There is a massive boom going on with all C currencies right now. If you look at most coins like Ripple, Stellar,  Cardano and so on you can see on the price charts the past 2 years they were floating out in the abyss but since Nov/Dec everyone its skyrocketing and people are looking for the next micro currency to throw 200$ in hopes of becoming a millionaire.

What makes PACCOIN worth 100 billion dollars?? Thats what the company would be worth if the coin went up to 1$ after the fork. No way...!!!  In fact you wouldn't even be able to pull your money out as there would be a rush to cash in from the thousands of people who all own 5 million or more Paccoin. I would like these guys more if they actually had a website with a clear vision, profiles of the people working at the company and maybe an address but they don't even have that. This one smells fishy, but hey they have sold many coins on their website so who knows maybe the jokes on us?

Talk about FUD... did you sign up just to post that?

There is a new website coming that will have a whitepaper from what I've read. That's part of what attracted me to this coin - I bought in when the market cap was under 10 million just as a light speculative bet after reading about there being a new dev team and seeing how long the coin had been around for. I didn't buy much - around $50 worth, but that little punt is now worth around $3k.

Also, they don't have to reach 100bn to get to 1 dollar - they have to reach 3bn because that will be the circulating supply. 100bn is the total capped supply with future mining taken into account.

Ultimately the crypto market is still incredibly nascent and whether you can see the point of all these tokens from the outset is kinda beside the point - money is rushing in, so it's a smart play to at least buy up a little bit of coins with very low market caps, some history and a clear potential for growth.

I respect your replies here guys. But just answer one question. Why we can't see official communication here? why we can't hear anything from the owner? they are really disappeared, and people are talking here they have the right to ask anything so the can decide whether to invest or not. The coin owner should have at least someone who follow up on the thread and answer investors questions. I think this will give the investors (I am one of them) a little more confidence

Regards
Sleem

[nthnode404]

any wallet?

Good question! Coinmarketcap listing for their website:  http://paccoin.net shows it's not responding? "Can't find the server"

[Jaycee_nl]

I agree with Sleem. The PACcoin DEV team should make clear who they are, like is the case for the other big coins. \
By doing so, faith and confidence in the PACcoin will grow.

[rolanvien]

PAC Coin Spikes Nearly 290% as New Crypto Coin Play
http://www.wallstreetnewscast.com/crypto-1228/

[leynoy]

I used 0,00004 and 0,04 as an EXAMPLE. I used these amounts because the current price per paccoin is 0,00004. Main issue is that 400 dollar just before redemption will be 400 dollar after redemption.

I know, I meant if the coin valued 0,00004$ before the swap, it is still uncertain that new coin will value 0,04$ after the swap. People can lose profit due to that.

That's exactly what I don't understand! We all bought Pac's cause it was very very cheap, I'm not sure I would jump in if it was 0.04$

I think this is one of the main reasons why we bought PAC "very very cheap"...i am not sure demand will be higher if the price is $0.0X...

[doc_pan]

I used 0,00004 and 0,04 as an EXAMPLE. I used these amounts because the current price per paccoin is 0,00004. Main issue is that 400 dollar just before redemption will be 400 dollar after redemption.

I know, I meant if the coin valued 0,00004$ before the swap, it is still uncertain that new coin will value 0,04$ after the swap. People can lose profit due to that.

That's exactly what I don't understand! We all bought Pac's cause it was very very cheap, I'm not sure I would jump in if it was 0.04$

I think this is one of the main reasons why we bought PAC "very very cheap"...i am not sure demand will be higher if the price is $0.0X...

Only people that are bad at math and Have zero understanding of the relationship between market cap and supply will be turned off by the new “higher price”. Those that do understand however will realize this is a coin with a still relatively low market cap and strong growth potential, so will view it as a worthwhile bet.