[ANN][PHCoin] The Mission to stimulate Philippines Job Economy with PHCoin

[mt55]

@ PHCoin: I totally agree with you. My request for an update was absolutely not meant to be used as indicator whether I might soon be able to dump my coins or not. I do think that a more regular exchange of information will definetely contribute to keep the people here on board and to grow the community. The work alone you guys put in so far strengthens my beliefe that you are serious about this. Nevertheless, you can easily keep the fire burning by throwing small pieces of wood at it now. Just some info here and there, even a small talk can help. You should not forget that someone who checks out this thread realizing the last post is 5 days old is probably not very convinced that this thing is running hot. I assume you agree?
The strategy you guys picked so far is good, but a wider community mining this woud also help the distribution of the coins. And this is where my main concern right now comes into play: I am really surprised that considering the work and the outline you came up with so far did not attract more people. If you look at the hashrate, that is ridiculous. Very hard to understand for me.... The premine might be a massive counterfactor to the attraction of new people. This is probably something we need to more actively and openly discuss in order to convince those people that are afraid of a heavy dump once this coin has gained a considerable traction.

[1714764867]

1714764867

[1714764867]

1714764867

[1714764867]

1714764867

[PHCoin]

Great points here. I like the mindset. I'll get Mike in here to discuss these points.

In another note, we are working on an official pool to release and adopting more pools on board to spread PHCoin.

Mike will elaborate more on this soon

[gpuminer]

Great points here. I like the mindset. I'll get Mike in here to discuss these points.

In another note, we are working on an official pool to release and adopting more pools on board to spread PHCoin.

Mike will elaborate more on this soon

How about exchange ?

[waxo]

+1 dont worry about the exchange guys, being like this protect the coin .
look at the TAC he has been on market 3/4 weeks after the launch.

i mining this coin as much as i can .
once it will be exchanable and have more promotion, you will dont regret to have some PH

i think the team take it seriously so we just have to wait to see the evolution..

[blue.robbin]

FYI for those who wants to sell PHC for BTC.

I can say as a guideline for the cost of PHC can be the cost to rent a rig and mine PHCOIN on a pool. Some stats:
renting rate from .0007-.0009 (PRICE/MHs/Day) for 24 hours for a 10 MHs miner is .007 -.009 BTC ($4.13-$5.31) when 1 BTC=$590 with the following pool stats:
500MH/s pool hash, 6.3-6.8 Difficulty, expected shares to solve a block of 1700, 8 contributors = 1400-1600 PHC per day or $0.00258-$0.00295 on the low side of cost. So an example would be 50,000 PHC * $0.00258/PHC= $129 and $129/$590 of btc= 0.2186BTC for 50,000PHC or 437 satoshi or 0.00000437 btc/phc

Also Note On Low Side of Cost:
When pool stats are 200-250MH/s, difficulty 2-2.9, expected shares to solve a block of 780, 8 contributors = 3000-5000 PHC generation per day when the network hash rates are low. The unit cost range now is $0.000826-$0.00137 or (0.07BTC-0.116 for every 50k PHC), thats 140-232 satoshi. This condition is rare... usually 300-400 MHs network hash rate is normal.

On High Side of Cost:
some people are renting roughly .33btc or 330MHs for 24hrs and PHC generation is 44k-50k PHC at pool stats in the 500-550MH/s range. Thats 660 satoshi

[redmonski]

FYI fobusinessese who wants to sell PHC for BTC.

I can say as a guideline for the cost of PHC can be the cost to rent a rig and mine PHCOIN on a pool. Some stats:
renting rate from .0007-.0009 (PRICE/MHs/Day) for 24 hours for a 10 MHs miner is .007 -.009 BTC ($4.13-$5.31) when 1 BTC=$590 with the following pool stats:
500MH/s pool hash, 6.3-6.8 Difficulty, expected shares to solve a block of 1700, 8 contributors = 1400-1600 PHC per day or $0.00258-$0.00295 on the low side of cost. So an example would be 50,000 PHC * $0.00258/PHC= $129 and $129/$590 of btc= 0.2186BTC for 50,000PHC or 437 satoshi or 0.00000437 btc/phc

Also Note:
When pool stats are 200-250MH/s, difficulty 2-2.9, expected shares to solve a block of 780, 8 contributors = 3000-5000 PHC generation per day when the network hash rates are low. The unit cost range now is $0.000826-$0.00137 or (0.07BTC-0.116 for every 50k PHC). This condition is rare... usually 300-400 MHs network hash rate is normal.

437 satoshi + value of the jobs platform = market price of PHC  

Or Economic value of jobs platform over number of PHC coins
we can also add other factors e.g. secure and fast transaction, adoption of PHC coins by businesses.

[Mike Scofield]

Community,

Thanks for your ongoing support for PHCoin as an organization.  The team has been proactively working on multiple resources (videos with tutorials, articles with step by step instructions, etc.) so we can get those in the Philippines learning about, and using PHCoin.

As for the exchange
we are #2 on Comkort, so get ready for the exchange, and it looks like www.allcoin.com is considering it? James sent me a message, so there is two exchanges to look forward to now. In addition, Cryptsy needs our votes, can each of you contribute some BTC to cryptsy if you wish? or buy up points to vote? its up to you, and its optional.

Why should people use phcoin as a general public purpose?

PHCoin will have support from its economy using the job platform. Businesses will have lower fees than traditional hiring platforms, and so will freelancers accepting PHC as a payment. Instead of charging for transaction fees on the Jobs Platform, we will be REWARDING transactions that take place in the JOBs platform, which is one of the distribution models in place.

There is other parts to this... More businesses and vendors will follow to accept PHCoin as their payment method due to lower transaction costs.  Its hard to determine the value of phcoin right now, but lets just say. it will rely on how much the business is willing to pay for talent and seeing records of this will be huge in the future for phcoin.

--------------

Nice evaluation Blue.robbin, I think you are right there on the target range, but I don't like to speculate for myself since I must remain (unbiased) to speculation.

[DudeAtWork420]

It's great to see a coin trying to give back. This is a prime example of how Cryptos should be used. I look forward to future endeavors with your coin.

Brandon Gilmore
Crypto Ambassador - Founder

[tukho]

But really tired of seeing it on the floor and have long prospects know how, but it promises to be one said why not, chimera

[blue.robbin]

But really tired of seeing it on the floor and have long prospects know how, but it promises to be one said why not, chimera

OK, this doesnt make sense, sounds like a bot.

[Mike Scofield]

It's great to see a coin trying to give back. This is a prime example of how Cryptos should be used. I look forward to future endeavors with your coin.

Brandon Gilmore
Crypto Ambassador - Founder

+1

Thanks for that. I do look forward to taking each of you on this endeavor with me,
I am seeing more supporters on a daily basis and we appreciate that.

[allcoin.com]

We've added PHC/BTC market.
https://www.allcoin.com/trade/PHC_BTC

[bluez69]

We've added PHC/BTC market.
https://www.allcoin.com/trade/PHC_BTC

Nice 

====
Is there any information from Comkort?
we've won at #2nd place for a vote this week...

So when we listed?

[redmonski]

We've added PHC/BTC market.
https://www.allcoin.com/trade/PHC_BTC

Very thin volume, just 3 trades so far.

[Anonz]

let us support this coin!

anonz reporting to the entrance! Supporting phcoin as well! Mike +1 on the new design of www.phcoin.org

[Anonz]

I am loving my Return on the mining i've done so far. I see phcoin with tremendous advantages and believe in this team with the delivery of its future.
OP looks good too, can we do some giveaways and distribution for bitcointalk members? Mike, you've mentioned this before

[SamWalters]

where are the speculators?  We need to be discussing the real crisis at hand and what people will think will happen
to PHC's value once the platform allows freelancers to work with the employers in growing related projects, right?

I'll start with some simple thoughts:
What if phcoin was used to hire some talented freelancers whom helped
expand the growth of a crypto related business to a million dollar business?

What if phcoin was behind the growth of top market cap digital currencies?

What if phcoin has value outside the fact of trading, mining, and anonymous reasons?

[SamWalters]

We've added PHC/BTC market.
https://www.allcoin.com/trade/PHC_BTC

Very thin volume, just 3 trades so far.

IMO the fate of this coin is chained to the delivery of jobs and there is probably a long way until this happens.

In the meanwhile, some transparency about the development team would be nice so that people know who run this project and what their skills are. People need to trust a project before they put their money in it.

I agree with this because transparency is key, however, Mike Scofield has proven for the last 30+ days, from time-and-time again, he is delivering on his word. I love this aspect of it because if I am supporting a team, a transparent one. In my eyes, they were not after the exchanges more so than its job platform, which you are right, it will be the fate of this coin...  and instead of solely focusing on exchanges after launch, they made sure there was a smooth launch (after a few post-dated) extensions. It seems Mike's team fixed up the new site (www.phcoin.org) which I can say is better layout and more informative then the previous site.  

Mike, last time you were saying about 50 team members now, can you please elaborate on this?

Tell us more, we are loving this project and are interested in supporting you in this venture.

If anyone here is into twittering, check out the hash tag #phcoin and retweet it/reply to support it: https://twitter.com/search?q=phcoin

[phcoins]

Interesting stats reported about the 10-to-1 Buy order ratio on allcoin.com exchange https://twitter.com/PHCoinTeam/status/478848320937676800

Keep this active community and we will begin writing out messages to begin spreading around social media.
Help us re-tweet by following the team's account http://twitter.com/phcointeam and www.twitter.com/MikeScofieldX

Screenshot taken on 06/17/2014 at 7:00 AM EST from Allcoin.com  [ https://www.allcoin.com/trade/phc_btc ]

https://i.imgur.com/i2e2Nde.png

https://i.imgur.com/rJo3RDb.png

[phcoins]

P2PoolCoin.com
P2pool node for PHCoin

EU server: http://p2poolcoin.com:8128
Canada Server: http://ca.p2poolcoin.com:8128

Dedicated server
Xeon cpu
32Go ram
SSD
1Gbps

Fee: 1% ONLY !!!!

verified mining, still looking to spread the hash power. SuchPool did have quite a bit of it people.. we need to distribute our hashes