[ANN] Revamped PinkCoin (PC / PINK) PoS | Multipool | Fundraiser | Anonymous

[sumgye]

What I get is that Pay with Pink will be some kind of pre-paid card backed by community funds and somehow it all is attached to Pay-Pal... If you have a Paypal account, and most people, especially vendors, do, why would you want to use Pay with Pink? What's the advantage?

Pay with Pink is focused on the customer; people with Pinkcoin. Vendors, more often than not, want fiat; especially with physical goods.

If you're shopping on-line (looking for Pinkcoin T-Shirts, new Nike shoes, a new camera lens, what have you) you will be able to use your Pinkcoin directly (no need for credit cards, debit Visa's, etc). Pay with Pink does the PC -> BTC conversion, as well as the BTC -> Fiat conversion for you and the vendor (similar to BitPay).
You use your Pinkcoin (hassle free) and the vendor receives their fiat (currently via PayPal, hassle free).

What is in it for the community members that drop their money in PayPal to serve a guarantee, I understand some kind of staking-like? If so, why not just do the staking on the regular wallets? Is there any other advantage?

The reason for the community outreach (sorta speak) is to see if anyone would be interested in helping fuel the Pay with Pink fire.
Because Pay with Pink receives Pinkcoin (incoming) and sends vendors fiat (outgoing) 3 "pools" need to be maintained; Pinkcoin, Bitcoin, and CAD (currently).

One of the major reasons for maintaining these "pools" (as well as why we started Pay with Pink originally) is so that the Pinkcoin developers and community are in control.

Most coins, when they leave the virtual world and enter the "real world", suffer from large sell resistance or dumps. This is because the moment someone buys a 50" flat screen TV (say $5,000), the amount of Pinkcoin received needs to be immediately dumped for BTC, and then immediately dumped again for fiat, to ensure the vendor receives the fiat amount for the purchase.

Maintaining "pools" of these 3 currencies allows a more controlled conversion for both Pinkcoin and Bitcoin. This is where the community can come in.

If I am not mistaken, the current investment strategy is: By helping increase the size of the Bitcoin "pool" (middle ground) initially, and thus allowing Pay with Pink to handle larger transactions sooner than later, investors will receive a percentage (%) of each transaction that occurs.

However, I am going to stop there before I ramble on any further or enter an area I am not fully up-to-speed on.


By the way, no apologies necessary when it comes to questions. We were all born knowing "nothing".

Tranzium is pretty much 100% right on the money here. You don't need a paypal account to pay with pink. You don't need any account, just pinkcoins. PWP will handle all the paypal stuff for you. The idea is to convert the pinkcoin we have and want to use into the fiat that vendors prefer right now, and make the process easy for everyone, all around.

As for the return on investment, the return we're proposing is roughly a third of the surplus pink that accumulates naturally. Basically, when someone pays with pink, their exchange rate is based on the current buy prices for PinkCoin and Bitcoin, but the PWP system slowly and strategically tries to get the best deal it can when it converts its pinkcoin and bitcoin to fiat on the market, and only converts what it needs to. A portion of the leftover coins are distributed to investors.

Obviously if the system happens to make a loss, then future profits will recover past losses before producing new returns. But in a stable, and/or uptrending pinkcoin & bitcoin market, there will be consistent returns. Even in the event that there's a drop, and the system needs to recover... unless the drop continues forever, the system will recover once the market restabilizes and payouts will resume.

Basically you'd be getting a stake of the leftover pinkcoins we get by not just simply dumping them on the market, but instead selling them off carefully and slowly for only the amount necessary to replenish fiat reserves - keeping as many pinkcoins as possible off the market and in the hands of our supporters.

[1714477750]

1714477750

[barabbas]

What I get is that Pay with Pink will be some kind of pre-paid card backed by community funds and somehow it all is attached to Pay-Pal... If you have a Paypal account, and most people, especially vendors, do, why would you want to use Pay with Pink? What's the advantage?

Pay with Pink is focused on the customer; people with Pinkcoin. Vendors, more often than not, want fiat; especially with physical goods.

If you're shopping on-line (looking for Pinkcoin T-Shirts, new Nike shoes, a new camera lens, what have you) you will be able to use your Pinkcoin directly (no need for credit cards, debit Visa's, etc). Pay with Pink does the PC -> BTC conversion, as well as the BTC -> Fiat conversion for you and the vendor (similar to BitPay).
You use your Pinkcoin (hassle free) and the vendor receives their fiat (currently via PayPal, hassle free).

What is in it for the community members that drop their money in PayPal to serve a guarantee, I understand some kind of staking-like? If so, why not just do the staking on the regular wallets? Is there any other advantage?

The reason for the community outreach (sorta speak) is to see if anyone would be interested in helping fuel the Pay with Pink fire.
Because Pay with Pink receives Pinkcoin (incoming) and sends vendors fiat (outgoing) 3 "pools" need to be maintained; Pinkcoin, Bitcoin, and CAD (currently).

One of the major reasons for maintaining these "pools" (as well as why we started Pay with Pink originally) is so that the Pinkcoin developers and community are in control.

Most coins, when they leave the virtual world and enter the "real world", suffer from large sell resistance or dumps. This is because the moment someone buys a 50" flat screen TV (say $5,000), the amount of Pinkcoin received needs to be immediately dumped for BTC, and then immediately dumped again for fiat, to ensure the vendor receives the fiat amount for the purchase.

Maintaining "pools" of these 3 currencies allows a more controlled conversion for both Pinkcoin and Bitcoin. This is where the community can come in.

If I am not mistaken, the current investment strategy is: By helping increase the size of the Bitcoin "pool" (middle ground) initially, and thus allowing Pay with Pink to handle larger transactions sooner than later, investors will receive a percentage (%) of each transaction that occurs.

However, I am going to stop there before I ramble on any further or enter an area I am not fully up-to-speed on.


By the way, no apologies necessary when it comes to questions. We were all born knowing "nothing".

Tranzium is pretty much 100% right on the money here. You don't need a paypal account to pay with pink. You don't need any account, just pinkcoins. PWP will handle all the paypal stuff for you. The idea is to convert the pinkcoin we have and want to use into the fiat that vendors prefer right now, and make the process easy for everyone, all around.

As for the return on investment, the return we're proposing is roughly a third of the surplus pink that accumulates naturally. Basically, when someone pays with pink, their exchange rate is based on the current buy prices for PinkCoin and Bitcoin, but the PWP system slowly and strategically tries to get the best deal it can when it converts its pinkcoin and bitcoin to fiat on the market, and only converts what it needs to. A portion of the leftover coins are distributed to investors.

Obviously if the system happens to make a loss, then future profits will recover past losses before producing new returns. But in a stable, and/or uptrending pinkcoin & bitcoin market, there will be consistent returns. Even in the event that there's a drop, and the system needs to recover... unless the drop continues forever, the system will recover once the market restabilizes and payouts will resume.

Basically you'd be getting a stake of the leftover pinkcoins we get by not just simply dumping them on the market, but instead selling them off carefully and slowly for only the amount necessary to replenish fiat reserves - keeping as many pinkcoins as possible off the market and in the hands of our supporters.

Thank you to both for the explanations. It is a bit complex but I believe I get it. And, sorry, I don't like it one bit. The main reason is because I believe it is a step backwards, instead of forward. A step forward being getting vendors to accept Pinkcoin. This would be just setting up a transaction system, to three bands, to AVOID acceptance of Pinkcoin by vendors. That the technology may make it viable and efficient doesn't divert from the fact that it is, in actuality, the opposite of moving Pinkcoin towards the mainstream... which should be the main objective, by far.

There are also a bunch of other complex and unnecessary aspects like a "system" that would choose when to actually trade PC for BTC, of more than doubtful efficiency and value. I'll give you the closest example: In less than 2 weeks, the price of PC has been halved. If PayWithPink would have been in effect, at what levels would have the conversion taken place? If you are buying a flat screen and want to pay with Pinkcoin -once the vendor accepts it- you certainly can wait if you think the current price is too low. It will be you, the customer's prerogative and decision, not a "system" of more than doubtful results in regards of trading.

Look, this is a great coin and should remain a great coin, not a gambling platform, not a gaming platform and certainly not a currency-trading platform. Growth should come from usage, from adoption, from investment, not from any other more than doubtful, I repeat, sources of potential profits.

Furthermore, Pay-Pal, successful as it is, is efficient because it protects the customer -against the vendors-. Vendors are not happy to use PayPal, they are FORCED to. And on any dispute, PayPal does a charge back no questions asked... which is the opposite of what crypto currencies do: Transactions are irreversible. That gives the vendors confidence. Any alternative, involving PayPal would only contribute to more rejection of crypto currencies by vendors and less adoption of PC by users and investors.

This is obviously only my reasoned opinion.

[fayoling]

What I get is that Pay with Pink will be some kind of pre-paid card backed by community funds and somehow it all is attached to Pay-Pal... If you have a Paypal account, and most people, especially vendors, do, why would you want to use Pay with Pink? What's the advantage?

Pay with Pink is focused on the customer; people with Pinkcoin. Vendors, more often than not, want fiat; especially with physical goods.

If you're shopping on-line (looking for Pinkcoin T-Shirts, new Nike shoes, a new camera lens, what have you) you will be able to use your Pinkcoin directly (no need for credit cards, debit Visa's, etc). Pay with Pink does the PC -> BTC conversion, as well as the BTC -> Fiat conversion for you and the vendor (similar to BitPay).
You use your Pinkcoin (hassle free) and the vendor receives their fiat (currently via PayPal, hassle free).

What is in it for the community members that drop their money in PayPal to serve a guarantee, I understand some kind of staking-like? If so, why not just do the staking on the regular wallets? Is there any other advantage?

The reason for the community outreach (sorta speak) is to see if anyone would be interested in helping fuel the Pay with Pink fire.
Because Pay with Pink receives Pinkcoin (incoming) and sends vendors fiat (outgoing) 3 "pools" need to be maintained; Pinkcoin, Bitcoin, and CAD (currently).

One of the major reasons for maintaining these "pools" (as well as why we started Pay with Pink originally) is so that the Pinkcoin developers and community are in control.

Most coins, when they leave the virtual world and enter the "real world", suffer from large sell resistance or dumps. This is because the moment someone buys a 50" flat screen TV (say $5,000), the amount of Pinkcoin received needs to be immediately dumped for BTC, and then immediately dumped again for fiat, to ensure the vendor receives the fiat amount for the purchase.

Maintaining "pools" of these 3 currencies allows a more controlled conversion for both Pinkcoin and Bitcoin. This is where the community can come in.

If I am not mistaken, the current investment strategy is: By helping increase the size of the Bitcoin "pool" (middle ground) initially, and thus allowing Pay with Pink to handle larger transactions sooner than later, investors will receive a percentage (%) of each transaction that occurs.

However, I am going to stop there before I ramble on any further or enter an area I am not fully up-to-speed on.


By the way, no apologies necessary when it comes to questions. We were all born knowing "nothing".

Tranzium is pretty much 100% right on the money here. You don't need a paypal account to pay with pink. You don't need any account, just pinkcoins. PWP will handle all the paypal stuff for you. The idea is to convert the pinkcoin we have and want to use into the fiat that vendors prefer right now, and make the process easy for everyone, all around.

As for the return on investment, the return we're proposing is roughly a third of the surplus pink that accumulates naturally. Basically, when someone pays with pink, their exchange rate is based on the current buy prices for PinkCoin and Bitcoin, but the PWP system slowly and strategically tries to get the best deal it can when it converts its pinkcoin and bitcoin to fiat on the market, and only converts what it needs to. A portion of the leftover coins are distributed to investors.

Obviously if the system happens to make a loss, then future profits will recover past losses before producing new returns. But in a stable, and/or uptrending pinkcoin & bitcoin market, there will be consistent returns. Even in the event that there's a drop, and the system needs to recover... unless the drop continues forever, the system will recover once the market restabilizes and payouts will resume.

Basically you'd be getting a stake of the leftover pinkcoins we get by not just simply dumping them on the market, but instead selling them off carefully and slowly for only the amount necessary to replenish fiat reserves - keeping as many pinkcoins as possible off the market and in the hands of our supporters.

Thank you to both for the explanations. It is a bit complex but I believe I get it. And, sorry, I don't like it one bit. The main reason is because I believe it is a step backwards, instead of forward. A step forward being getting vendors to accept Pinkcoin. This would be just setting up a transaction system, to three bands, to AVOID acceptance of Pinkcoin by vendors. That the technology may make it viable and efficient doesn't divert from the fact that it is, in actuality, the opposite of moving Pinkcoin towards the mainstream... which should be the main objective, by far.

There are also a bunch of other complex and unnecessary aspects like a "system" that would choose when to actually trade PC for BTC, of more than doubtful efficiency and value. I'll give you the closest example: In less than 2 weeks, the price of PC has been halved. If PayWithPink would have been in effect, at what levels would have the conversion taken place? If you are buying a flat screen and want to pay with Pinkcoin -once the vendor accepts it- you certainly can wait if you think the current price is too low. It will be you, the customer's prerogative and decision, not a "system" of more than doubtful results in regards of trading.

Look, this is a great coin and should remain a great coin, not a gambling platform, not a gaming platform and certainly not a currency-trading platform. Growth should come from usage, from adoption, from investment, not from any other more than doubtful, I repeat, sources of potential profits.

Furthermore, Pay-Pal, successful as it is, is efficient because it protects the customer -against the vendors-. Vendors are not happy to use PayPal, they are FORCED to. And on any dispute, PayPal does a charge back no questions asked... which is the opposite of what crypto currencies do: Transactions are irreversible. That gives the vendors confidence. Any alternative, involving PayPal would only contribute to more rejection of crypto currencies by vendors and less adoption of PC by users and investors.

This is obviously only my reasoned opinion.

Considering the amount of times you used the word DOUBT in this post, my only response to this really, is that I DOUBT you understand the concept. However you did spark a couple ideas I will need to draw out.

The systems, being built and incorporated together will not be restricted to vendors only accepting PayPal/Fiat. They will obviously be able and encouraged to accept Pinkcoin via the system. This is a "foot in the door" opportunity for nearly any online vendor.

And as for your concern about the coin dropping in price, it is easy to increase profits, even on a decline by averaging down and other similar techniques. It is all math, and one thing about math, is that when used effectively, is always right and beneficial.

This is just the first phase of PwP to get us into, and our logo on, as many websites as possible. This will most certainly lead to vendors accepting Pinkcoin straight up.

As for "And on any dispute, PayPal does a charge back no questions asked" is not an issue at all, as the client/customer will be dealing in crypto, not PayPal, therefore they can not initiate a chargeback. So for the vendors that currently feel FORCED to use PayPal, but fear the chargebacks, this issue is now removed, and they can experience the NO CHARGEBACK experience of crypto.

[barabbas]

What I get is that Pay with Pink will be some kind of pre-paid card backed by community funds and somehow it all is attached to Pay-Pal... If you have a Paypal account, and most people, especially vendors, do, why would you want to use Pay with Pink? What's the advantage?

Pay with Pink is focused on the customer; people with Pinkcoin. Vendors, more often than not, want fiat; especially with physical goods.

If you're shopping on-line (looking for Pinkcoin T-Shirts, new Nike shoes, a new camera lens, what have you) you will be able to use your Pinkcoin directly (no need for credit cards, debit Visa's, etc). Pay with Pink does the PC -> BTC conversion, as well as the BTC -> Fiat conversion for you and the vendor (similar to BitPay).
You use your Pinkcoin (hassle free) and the vendor receives their fiat (currently via PayPal, hassle free).

What is in it for the community members that drop their money in PayPal to serve a guarantee, I understand some kind of staking-like? If so, why not just do the staking on the regular wallets? Is there any other advantage?

The reason for the community outreach (sorta speak) is to see if anyone would be interested in helping fuel the Pay with Pink fire.
Because Pay with Pink receives Pinkcoin (incoming) and sends vendors fiat (outgoing) 3 "pools" need to be maintained; Pinkcoin, Bitcoin, and CAD (currently).

One of the major reasons for maintaining these "pools" (as well as why we started Pay with Pink originally) is so that the Pinkcoin developers and community are in control.

Most coins, when they leave the virtual world and enter the "real world", suffer from large sell resistance or dumps. This is because the moment someone buys a 50" flat screen TV (say $5,000), the amount of Pinkcoin received needs to be immediately dumped for BTC, and then immediately dumped again for fiat, to ensure the vendor receives the fiat amount for the purchase.

Maintaining "pools" of these 3 currencies allows a more controlled conversion for both Pinkcoin and Bitcoin. This is where the community can come in.

If I am not mistaken, the current investment strategy is: By helping increase the size of the Bitcoin "pool" (middle ground) initially, and thus allowing Pay with Pink to handle larger transactions sooner than later, investors will receive a percentage (%) of each transaction that occurs.

However, I am going to stop there before I ramble on any further or enter an area I am not fully up-to-speed on.


By the way, no apologies necessary when it comes to questions. We were all born knowing "nothing".

Tranzium is pretty much 100% right on the money here. You don't need a paypal account to pay with pink. You don't need any account, just pinkcoins. PWP will handle all the paypal stuff for you. The idea is to convert the pinkcoin we have and want to use into the fiat that vendors prefer right now, and make the process easy for everyone, all around.

As for the return on investment, the return we're proposing is roughly a third of the surplus pink that accumulates naturally. Basically, when someone pays with pink, their exchange rate is based on the current buy prices for PinkCoin and Bitcoin, but the PWP system slowly and strategically tries to get the best deal it can when it converts its pinkcoin and bitcoin to fiat on the market, and only converts what it needs to. A portion of the leftover coins are distributed to investors.

Obviously if the system happens to make a loss, then future profits will recover past losses before producing new returns. But in a stable, and/or uptrending pinkcoin & bitcoin market, there will be consistent returns. Even in the event that there's a drop, and the system needs to recover... unless the drop continues forever, the system will recover once the market restabilizes and payouts will resume.

Basically you'd be getting a stake of the leftover pinkcoins we get by not just simply dumping them on the market, but instead selling them off carefully and slowly for only the amount necessary to replenish fiat reserves - keeping as many pinkcoins as possible off the market and in the hands of our supporters.

Thank you to both for the explanations. It is a bit complex but I believe I get it. And, sorry, I don't like it one bit. The main reason is because I believe it is a step backwards, instead of forward. A step forward being getting vendors to accept Pinkcoin. This would be just setting up a transaction system, to three bands, to AVOID acceptance of Pinkcoin by vendors. That the technology may make it viable and efficient doesn't divert from the fact that it is, in actuality, the opposite of moving Pinkcoin towards the mainstream... which should be the main objective, by far.

There are also a bunch of other complex and unnecessary aspects like a "system" that would choose when to actually trade PC for BTC, of more than doubtful efficiency and value. I'll give you the closest example: In less than 2 weeks, the price of PC has been halved. If PayWithPink would have been in effect, at what levels would have the conversion taken place? If you are buying a flat screen and want to pay with Pinkcoin -once the vendor accepts it- you certainly can wait if you think the current price is too low. It will be you, the customer's prerogative and decision, not a "system" of more than doubtful results in regards of trading.

Look, this is a great coin and should remain a great coin, not a gambling platform, not a gaming platform and certainly not a currency-trading platform. Growth should come from usage, from adoption, from investment, not from any other more than doubtful, I repeat, sources of potential profits.

Furthermore, Pay-Pal, successful as it is, is efficient because it protects the customer -against the vendors-. Vendors are not happy to use PayPal, they are FORCED to. And on any dispute, PayPal does a charge back no questions asked... which is the opposite of what crypto currencies do: Transactions are irreversible. That gives the vendors confidence. Any alternative, involving PayPal would only contribute to more rejection of crypto currencies by vendors and less adoption of PC by users and investors.

This is obviously only my reasoned opinion.

Considering the amount of times you used the word DOUBT in this post, my only response to this really, is that I DOUBT you understand the concept. However you did spark a couple ideas I will need to draw out.

The systems, being built and incorporated together will not be restricted to vendors only accepting PayPal/Fiat. They will obviously be able and encouraged to accept Pinkcoin via the system. This is a "foot in the door" opportunity for nearly any online vendor.

And as for your concern about the coin dropping in price, it is easy to increase profits, even on a decline by averaging down and other similar techniques. It is all math, and one thing about math, is that when used effectively, is always right and beneficial.

This is just the first phase of PwP to get us into, and our logo on, as many websites as possible. This will most certainly lead to vendors accepting Pinkcoin straight up.

As for "And on any dispute, PayPal does a charge back no questions asked" is not an issue at all, as the client/customer will be dealing in crypto, not PayPal, therefore they can not initiate a chargeback. So for the vendors that currently feel FORCED to use PayPal, but fear the chargebacks, this issue is now removed, and they can experience the NO CHARGEBACK experience of crypto.

Humm, that's peculiar... upon review, I did not use the word DOUBT, in capitals or otherwise, at all. Not a single time. I did write "doubtful" three times, one of them on a repeated context. Peculiar that you would find such non-existent things and even more so that you choose to make a remark about them.

To clarify, no; I do understand the "system" quite well by now. And lest your DOUBT be erased.

I still find it an ill-conceived idea, not only on the instances and for the circumstances you have chosen to omit in your answer, such as the uncertain (mind you, I decided against doubtful here) results of a trading "system" based on algos. But, more surprisingly, you make a mention about the price of the coin that misses completely my point. Here it goes again: How would that "system" have traded the PCs during this recent slum in what in less than 2 weeks the price has been halved? The point that you make, about price, has nothing to do with my "concern". Furthermore, your statement about math applied to exchange techniques, is simply puerile and completely absurd for it doesn't take into consideration many other determining factors such as volume, which in the case of PC, since it is so small, is of extraordinary and price-changing importance. All of that can be addressed way more efficiently, away from any kind of algo "system".

But obviously we are not going to agree for I believe you are on a race to do what others coins have already done -sans the PayPal association, which is off putting and counter productive from the get go, by the way-, without any semblance of success by the way, at least so far. And I am talking about coins with many times the volume on PC and many times the market cap of PC as well as many times the awareness, public and in crypto, of PC. So I believe the points have been made and you will do what you would do anyway.

Thanks anyway for the time.

[fayoling]

What I get is that Pay with Pink will be some kind of pre-paid card backed by community funds and somehow it all is attached to Pay-Pal... If you have a Paypal account, and most people, especially vendors, do, why would you want to use Pay with Pink? What's the advantage?

Pay with Pink is focused on the customer; people with Pinkcoin. Vendors, more often than not, want fiat; especially with physical goods.

If you're shopping on-line (looking for Pinkcoin T-Shirts, new Nike shoes, a new camera lens, what have you) you will be able to use your Pinkcoin directly (no need for credit cards, debit Visa's, etc). Pay with Pink does the PC -> BTC conversion, as well as the BTC -> Fiat conversion for you and the vendor (similar to BitPay).
You use your Pinkcoin (hassle free) and the vendor receives their fiat (currently via PayPal, hassle free).

What is in it for the community members that drop their money in PayPal to serve a guarantee, I understand some kind of staking-like? If so, why not just do the staking on the regular wallets? Is there any other advantage?

The reason for the community outreach (sorta speak) is to see if anyone would be interested in helping fuel the Pay with Pink fire.
Because Pay with Pink receives Pinkcoin (incoming) and sends vendors fiat (outgoing) 3 "pools" need to be maintained; Pinkcoin, Bitcoin, and CAD (currently).

One of the major reasons for maintaining these "pools" (as well as why we started Pay with Pink originally) is so that the Pinkcoin developers and community are in control.

Most coins, when they leave the virtual world and enter the "real world", suffer from large sell resistance or dumps. This is because the moment someone buys a 50" flat screen TV (say $5,000), the amount of Pinkcoin received needs to be immediately dumped for BTC, and then immediately dumped again for fiat, to ensure the vendor receives the fiat amount for the purchase.

Maintaining "pools" of these 3 currencies allows a more controlled conversion for both Pinkcoin and Bitcoin. This is where the community can come in.

If I am not mistaken, the current investment strategy is: By helping increase the size of the Bitcoin "pool" (middle ground) initially, and thus allowing Pay with Pink to handle larger transactions sooner than later, investors will receive a percentage (%) of each transaction that occurs.

However, I am going to stop there before I ramble on any further or enter an area I am not fully up-to-speed on.


By the way, no apologies necessary when it comes to questions. We were all born knowing "nothing".

Tranzium is pretty much 100% right on the money here. You don't need a paypal account to pay with pink. You don't need any account, just pinkcoins. PWP will handle all the paypal stuff for you. The idea is to convert the pinkcoin we have and want to use into the fiat that vendors prefer right now, and make the process easy for everyone, all around.

As for the return on investment, the return we're proposing is roughly a third of the surplus pink that accumulates naturally. Basically, when someone pays with pink, their exchange rate is based on the current buy prices for PinkCoin and Bitcoin, but the PWP system slowly and strategically tries to get the best deal it can when it converts its pinkcoin and bitcoin to fiat on the market, and only converts what it needs to. A portion of the leftover coins are distributed to investors.

Obviously if the system happens to make a loss, then future profits will recover past losses before producing new returns. But in a stable, and/or uptrending pinkcoin & bitcoin market, there will be consistent returns. Even in the event that there's a drop, and the system needs to recover... unless the drop continues forever, the system will recover once the market restabilizes and payouts will resume.

Basically you'd be getting a stake of the leftover pinkcoins we get by not just simply dumping them on the market, but instead selling them off carefully and slowly for only the amount necessary to replenish fiat reserves - keeping as many pinkcoins as possible off the market and in the hands of our supporters.

Thank you to both for the explanations. It is a bit complex but I believe I get it. And, sorry, I don't like it one bit. The main reason is because I believe it is a step backwards, instead of forward. A step forward being getting vendors to accept Pinkcoin. This would be just setting up a transaction system, to three bands, to AVOID acceptance of Pinkcoin by vendors. That the technology may make it viable and efficient doesn't divert from the fact that it is, in actuality, the opposite of moving Pinkcoin towards the mainstream... which should be the main objective, by far.

There are also a bunch of other complex and unnecessary aspects like a "system" that would choose when to actually trade PC for BTC, of more than doubtful efficiency and value. I'll give you the closest example: In less than 2 weeks, the price of PC has been halved. If PayWithPink would have been in effect, at what levels would have the conversion taken place? If you are buying a flat screen and want to pay with Pinkcoin -once the vendor accepts it- you certainly can wait if you think the current price is too low. It will be you, the customer's prerogative and decision, not a "system" of more than doubtful results in regards of trading.

Look, this is a great coin and should remain a great coin, not a gambling platform, not a gaming platform and certainly not a currency-trading platform. Growth should come from usage, from adoption, from investment, not from any other more than doubtful, I repeat, sources of potential profits.

Furthermore, Pay-Pal, successful as it is, is efficient because it protects the customer -against the vendors-. Vendors are not happy to use PayPal, they are FORCED to. And on any dispute, PayPal does a charge back no questions asked... which is the opposite of what crypto currencies do: Transactions are irreversible. That gives the vendors confidence. Any alternative, involving PayPal would only contribute to more rejection of crypto currencies by vendors and less adoption of PC by users and investors.

This is obviously only my reasoned opinion.

Considering the amount of times you used the word DOUBT in this post, my only response to this really, is that I DOUBT you understand the concept. However you did spark a couple ideas I will need to draw out.

The systems, being built and incorporated together will not be restricted to vendors only accepting PayPal/Fiat. They will obviously be able and encouraged to accept Pinkcoin via the system. This is a "foot in the door" opportunity for nearly any online vendor.

And as for your concern about the coin dropping in price, it is easy to increase profits, even on a decline by averaging down and other similar techniques. It is all math, and one thing about math, is that when used effectively, is always right and beneficial.

This is just the first phase of PwP to get us into, and our logo on, as many websites as possible. This will most certainly lead to vendors accepting Pinkcoin straight up.

As for "And on any dispute, PayPal does a charge back no questions asked" is not an issue at all, as the client/customer will be dealing in crypto, not PayPal, therefore they can not initiate a chargeback. So for the vendors that currently feel FORCED to use PayPal, but fear the chargebacks, this issue is now removed, and they can experience the NO CHARGEBACK experience of crypto.

Humm, that's peculiar... upon review, I did not use the word DOUBT, in capitals or otherwise, at all. Not a single time. I did write "doubtful" three times, one of them on a repeated context. Peculiar that you would find such non-existent things and even more so that you choose to make a remark about them.

To clarify, no; I do understand the "system" quite well by now. And lest your DOUBT be erased.

I still find it an ill-conceived idea, not only on the instances and for the circumstances you have chosen to omit in your answer, such as the uncertain (mind you, I decided against doubtful here) results of a trading "system" based on algos. But, more surprisingly, you make a mention about the price of the coin that misses completely my point. Here it goes again: How would that "system" have traded the PCs during this recent slum in what in less than 2 weeks the price has been halved? The point that you make, about price, has nothing to do with my "concern". Furthermore, your statement about math applied to exchange techniques, is simply puerile and completely absurd for it doesn't take into consideration many other determining factors such as volume, which in the case of PC, since it is so small, is of extraordinary and price-changing importance. All of that can be addressed way more efficiently, away from any kind of algo "system".

But obviously we are not going to agree for I believe you are on a race to do what others coins have already done -sans the PayPal association, which is off putting and counter productive from the get go, by the way-, without any semblance of success by the way, at least so far. And I am talking about coins with many times the volume on PC and many times the market cap of PC as well as many times the awareness, public and in crypto, of PC. So I believe the points have been made and you will do what you would do anyway.

Thanks anyway for the time.

You used the word "doubtful" and many other negative terms. I could gladly go through your post and reword it to put the positive Pink spin that we strive to maintain on it. But that would benefit no one and take far too long.

I think it is best to simply let you have your opinion on this one, that PwP will not be effective. As I believe, and see only positive things coming out of us being able to integrate Pinkcoin with any online vendor that accepts PayPal. Integration and automation of systems that are already successful and proven, can never be a bad thing, unless one chooses to perceive it as such.

As for the algorithm "it doesn't take into consideration many other determining factors such as volume" have you seen the algorithm? Have you helped write it? How you know it does not take volume into consideration?

[fayoling]

[barabbas]

What I get is that Pay with Pink will be some kind of pre-paid card backed by community funds and somehow it all is attached to Pay-Pal... If you have a Paypal account, and most people, especially vendors, do, why would you want to use Pay with Pink? What's the advantage?

Pay with Pink is focused on the customer; people with Pinkcoin. Vendors, more often than not, want fiat; especially with physical goods.

If you're shopping on-line (looking for Pinkcoin T-Shirts, new Nike shoes, a new camera lens, what have you) you will be able to use your Pinkcoin directly (no need for credit cards, debit Visa's, etc). Pay with Pink does the PC -> BTC conversion, as well as the BTC -> Fiat conversion for you and the vendor (similar to BitPay).
You use your Pinkcoin (hassle free) and the vendor receives their fiat (currently via PayPal, hassle free).

What is in it for the community members that drop their money in PayPal to serve a guarantee, I understand some kind of staking-like? If so, why not just do the staking on the regular wallets? Is there any other advantage?

The reason for the community outreach (sorta speak) is to see if anyone would be interested in helping fuel the Pay with Pink fire.
Because Pay with Pink receives Pinkcoin (incoming) and sends vendors fiat (outgoing) 3 "pools" need to be maintained; Pinkcoin, Bitcoin, and CAD (currently).

One of the major reasons for maintaining these "pools" (as well as why we started Pay with Pink originally) is so that the Pinkcoin developers and community are in control.

Most coins, when they leave the virtual world and enter the "real world", suffer from large sell resistance or dumps. This is because the moment someone buys a 50" flat screen TV (say $5,000), the amount of Pinkcoin received needs to be immediately dumped for BTC, and then immediately dumped again for fiat, to ensure the vendor receives the fiat amount for the purchase.

Maintaining "pools" of these 3 currencies allows a more controlled conversion for both Pinkcoin and Bitcoin. This is where the community can come in.

If I am not mistaken, the current investment strategy is: By helping increase the size of the Bitcoin "pool" (middle ground) initially, and thus allowing Pay with Pink to handle larger transactions sooner than later, investors will receive a percentage (%) of each transaction that occurs.

However, I am going to stop there before I ramble on any further or enter an area I am not fully up-to-speed on.


By the way, no apologies necessary when it comes to questions. We were all born knowing "nothing".

Tranzium is pretty much 100% right on the money here. You don't need a paypal account to pay with pink. You don't need any account, just pinkcoins. PWP will handle all the paypal stuff for you. The idea is to convert the pinkcoin we have and want to use into the fiat that vendors prefer right now, and make the process easy for everyone, all around.

As for the return on investment, the return we're proposing is roughly a third of the surplus pink that accumulates naturally. Basically, when someone pays with pink, their exchange rate is based on the current buy prices for PinkCoin and Bitcoin, but the PWP system slowly and strategically tries to get the best deal it can when it converts its pinkcoin and bitcoin to fiat on the market, and only converts what it needs to. A portion of the leftover coins are distributed to investors.

Obviously if the system happens to make a loss, then future profits will recover past losses before producing new returns. But in a stable, and/or uptrending pinkcoin & bitcoin market, there will be consistent returns. Even in the event that there's a drop, and the system needs to recover... unless the drop continues forever, the system will recover once the market restabilizes and payouts will resume.

Basically you'd be getting a stake of the leftover pinkcoins we get by not just simply dumping them on the market, but instead selling them off carefully and slowly for only the amount necessary to replenish fiat reserves - keeping as many pinkcoins as possible off the market and in the hands of our supporters.

Thank you to both for the explanations. It is a bit complex but I believe I get it. And, sorry, I don't like it one bit. The main reason is because I believe it is a step backwards, instead of forward. A step forward being getting vendors to accept Pinkcoin. This would be just setting up a transaction system, to three bands, to AVOID acceptance of Pinkcoin by vendors. That the technology may make it viable and efficient doesn't divert from the fact that it is, in actuality, the opposite of moving Pinkcoin towards the mainstream... which should be the main objective, by far.

There are also a bunch of other complex and unnecessary aspects like a "system" that would choose when to actually trade PC for BTC, of more than doubtful efficiency and value. I'll give you the closest example: In less than 2 weeks, the price of PC has been halved. If PayWithPink would have been in effect, at what levels would have the conversion taken place? If you are buying a flat screen and want to pay with Pinkcoin -once the vendor accepts it- you certainly can wait if you think the current price is too low. It will be you, the customer's prerogative and decision, not a "system" of more than doubtful results in regards of trading.

Look, this is a great coin and should remain a great coin, not a gambling platform, not a gaming platform and certainly not a currency-trading platform. Growth should come from usage, from adoption, from investment, not from any other more than doubtful, I repeat, sources of potential profits.

Furthermore, Pay-Pal, successful as it is, is efficient because it protects the customer -against the vendors-. Vendors are not happy to use PayPal, they are FORCED to. And on any dispute, PayPal does a charge back no questions asked... which is the opposite of what crypto currencies do: Transactions are irreversible. That gives the vendors confidence. Any alternative, involving PayPal would only contribute to more rejection of crypto currencies by vendors and less adoption of PC by users and investors.

This is obviously only my reasoned opinion.

Considering the amount of times you used the word DOUBT in this post, my only response to this really, is that I DOUBT you understand the concept. However you did spark a couple ideas I will need to draw out.

The systems, being built and incorporated together will not be restricted to vendors only accepting PayPal/Fiat. They will obviously be able and encouraged to accept Pinkcoin via the system. This is a "foot in the door" opportunity for nearly any online vendor.

And as for your concern about the coin dropping in price, it is easy to increase profits, even on a decline by averaging down and other similar techniques. It is all math, and one thing about math, is that when used effectively, is always right and beneficial.

This is just the first phase of PwP to get us into, and our logo on, as many websites as possible. This will most certainly lead to vendors accepting Pinkcoin straight up.

As for "And on any dispute, PayPal does a charge back no questions asked" is not an issue at all, as the client/customer will be dealing in crypto, not PayPal, therefore they can not initiate a chargeback. So for the vendors that currently feel FORCED to use PayPal, but fear the chargebacks, this issue is now removed, and they can experience the NO CHARGEBACK experience of crypto.

Humm, that's peculiar... upon review, I did not use the word DOUBT, in capitals or otherwise, at all. Not a single time. I did write "doubtful" three times, one of them on a repeated context. Peculiar that you would find such non-existent things and even more so that you choose to make a remark about them.

To clarify, no; I do understand the "system" quite well by now. And lest your DOUBT be erased.

I still find it an ill-conceived idea, not only on the instances and for the circumstances you have chosen to omit in your answer, such as the uncertain (mind you, I decided against doubtful here) results of a trading "system" based on algos. But, more surprisingly, you make a mention about the price of the coin that misses completely my point. Here it goes again: How would that "system" have traded the PCs during this recent slum in what in less than 2 weeks the price has been halved? The point that you make, about price, has nothing to do with my "concern". Furthermore, your statement about math applied to exchange techniques, is simply puerile and completely absurd for it doesn't take into consideration many other determining factors such as volume, which in the case of PC, since it is so small, is of extraordinary and price-changing importance. All of that can be addressed way more efficiently, away from any kind of algo "system".

But obviously we are not going to agree for I believe you are on a race to do what others coins have already done -sans the PayPal association, which is off putting and counter productive from the get go, by the way-, without any semblance of success by the way, at least so far. And I am talking about coins with many times the volume on PC and many times the market cap of PC as well as many times the awareness, public and in crypto, of PC. So I believe the points have been made and you will do what you would do anyway.

Thanks anyway for the time.

You used the word "doubtful" and many other negative terms. I could gladly go through your post and reword it to put the positive Pink spin that we strive to maintain on it. But that would benefit no one and take far too long.

I think it is best to simply let you have your opinion on this one, that PwP will not be effective. As I believe, and see only positive things coming out of us being able to integrate Pinkcoin with any online vendor that accepts PayPal. Integration and automation of systems that are already successful and proven, can never be a bad thing, unless one chooses to perceive it as such.

As for the algorithm "it doesn't take into consideration many other determining factors such as volume" have you seen the algorithm? Have you helped write it? How you know it does not take volume into consideration?

First off, the term "doubtful" is not necessarily a negative. Much less when plans are at the "conversation stage". But this is like trying to talk objectively about their kid's deeds with their parents, an exercise in waste of time. It's your kid (bomb), I get it. It not only won't do anything good for pinkcoin, it will be, as stated, highly counterproductive. Irreconcilable opinions. End of story.

As for the algo, how can it take it into consideration a volume that doesn't exist, since the only volume would be the one it creates? THAT's how low the volume of trading in PC is. So any trading performed by the "system" would necessarily be dumping on the bots and the minimal bids available. And it could be a big dumping, depending of the amounts purchased, so the effects for the price would be absolutely devastating. The individual, on the other hand, can choose to hold until there's a burst of bids or, with patience, unload little by little, thus achieving better price and not creating a big dump on the market.
I know you would defend your algo and your "system", of course. You cannot even conceive the possibility of a better alternative and that, no matter how you choose to dress it, is VERY NEGATIVE, my friend. Just like negating the reality is.

But, like I said, in the end it is your child and he will perform at the party the solo tenor. Good luck with that.

Edit to add: And, by the way, you still have not responded to how the algo would have traded the PC during the instance of the past 2 weeks, when price has halved, and instance that obviously, in your always positive thinking will never happen but it not only has but it is guaranteed to happen, in more or less measure, many times in the future.  I guess it is somewhat difficult to explain and we will have to take it as "the algo would do the best that can be done", whatever that could mean in practical terms and real life example, right?

[fayoling]

...TRIM


First off, the term "doubtful" is not necessarily a negative. Much less when plans are at the "conversation stage". But this is like trying to talk objectively about their kid's deeds with their parents, an exercise in waste of time. It's your kid (bomb), I get it. It not only won't do anything good for pinkcoin, it will be, as stated, highly counterproductive. Irreconcilable opinions. End of story.

As for the algo, how can it take it into consideration a volume that doesn't exist, since the only volume would be the one it creates? THAT's how low the volume of trading in PC is. So any trading performed by the "system" would necessarily be dumping on the bots and the minimal bids available. And it could be a big dumping, depending of the amounts purchased, so the effects for the price would be absolutely devastating. The individual, on the other hand, can choose to hold until there's a burst of bids or, with patience, unload little by little, thus achieving better price and not creating a big dump on the market.
I know you would defend your algo and your "system", of course. You cannot even conceive the possibility of a better alternative and that, no matter how you choose to dress it, is VERY NEGATIVE, my friend. Just like negating the reality is.

But, like I said, in the end it is your child and he will perform at the party the solo tenor. Good luck with that.

Edit to add: And, by the way, you still have not responded to how the algo would have traded the PC during the instance of the past 2 weeks, when price has halved, and instance that obviously, in your always positive thinking will never happen but it not only has but it is guaranteed to happen, in more or less measure, many times in the future.  I guess it is somewhat difficult to explain and we will have to take it as "the algo would do the best that can be done", whatever that could mean in practical terms and real life example, right?

Barrabas, I did somewhat miss your arguments and challenges while you were on vacation.

If you feel I have been "defensive" or not on the same page, it is simply because I don't see any validation or your point of view in your arguments. That is all.

I am open to both criticism and suggestions. Instead, all you seem to be doing is telling me everything that is wrong in your opinion. For this to be a "conversation" to better the system, questions need to be asked, rather than some statements and opinions.

As for how an algorithm can successfully trade, in both low volume and a decline is simple. It just has to average down. I have played many coins, and many markets, and have yet to sell for a substantial by simply buying and selling the whole way down lowering my buy average. This is completely attainable on a coni like Pinkcoin, because, though it will decline, it will never die. So I know that we can always expect it to come back up.

If you would have been playing our current scenario all the way down, where you once were in the profit by 80, you could now be in the profit by 70 or lower. So when the incline begins again, you are in a much better position than you were before the decline. This is a perfect scenario where my "only positive" reality can take something negative like a decline, and flip it around.

[barabbas]

...TRIM


First off, the term "doubtful" is not necessarily a negative. Much less when plans are at the "conversation stage". But this is like trying to talk objectively about their kid's deeds with their parents, an exercise in waste of time. It's your kid (bomb), I get it. It not only won't do anything good for pinkcoin, it will be, as stated, highly counterproductive. Irreconcilable opinions. End of story.

As for the algo, how can it take it into consideration a volume that doesn't exist, since the only volume would be the one it creates? THAT's how low the volume of trading in PC is. So any trading performed by the "system" would necessarily be dumping on the bots and the minimal bids available. And it could be a big dumping, depending of the amounts purchased, so the effects for the price would be absolutely devastating. The individual, on the other hand, can choose to hold until there's a burst of bids or, with patience, unload little by little, thus achieving better price and not creating a big dump on the market.
I know you would defend your algo and your "system", of course. You cannot even conceive the possibility of a better alternative and that, no matter how you choose to dress it, is VERY NEGATIVE, my friend. Just like negating the reality is.

But, like I said, in the end it is your child and he will perform at the party the solo tenor. Good luck with that.

Edit to add: And, by the way, you still have not responded to how the algo would have traded the PC during the instance of the past 2 weeks, when price has halved, and instance that obviously, in your always positive thinking will never happen but it not only has but it is guaranteed to happen, in more or less measure, many times in the future.  I guess it is somewhat difficult to explain and we will have to take it as "the algo would do the best that can be done", whatever that could mean in practical terms and real life example, right?

Barrabas, I did somewhat miss your arguments and challenges while you were on vacation.

If you feel I have been "defensive" or not on the same page, it is simply because I don't see any validation or your point of view in your arguments. That is all.

I am open to both criticism and suggestions. Instead, all you seem to be doing is telling me everything that is wrong in your opinion. For this to be a "conversation" to better the system, questions need to be asked, rather than some statements and opinions.

As for how an algorithm can successfully trade, in both low volume and a decline is simple. It just has to average down. I have played many coins, and many markets, and have yet to sell for a substantial by simply buying and selling the whole way down lowering my buy average. This is completely attainable on a coni like Pinkcoin, because, though it will decline, it will never die. So I know that we can always expect it to come back up.

If you would have been playing our current scenario all the way down, where you once were in the profit by 80, you could now be in the profit by 70 or lower. So when the incline begins again, you are in a much better position than you were before the decline. This is a perfect scenario where my "only positive" reality can take something negative like a decline, and flip it around.

Ok, let's clarify first that I have been stating my opinion and that is utterly and completely opposed to yours on every aspect of the PwP. So, as I have stated several times already, your kid will sing the solo tenor and my opinion will just remain here. End of that part of the conversation.

Now, the "averaging down" by a "system" has to be programmed. Perhaps when you have spent in the financial world the amount of years I have, you will understand what is normally called "throwing money after bad money" which is applied to what many people perceive as "averaging down". First of all, money is not an infinite supply, otherwise it would be quite easy by simply doubling down. Second, you have to program a "system" to "average down", every 5 points? 10 points? 25 points? doubling down? tripling? See? those things can be done by an individual, on gut feeling or resources or both. When it is an algo, you will find that after a dump like the one PC has just experienced, you run out of money when it went from 105 to 80. What then? I'm sure you get my point clearly. What will support the PwP when there are no resources in the bank? another petition  to the community, rather urgent? what if the community doesn't respond? what would that do to the image of PC?

And I am as confident as you are... on the opposite direction -experience is called that figure- that not only scenarios in which the price will be halved will present themselves again in the future but that they could potentially be much worse than just halving. Not a single coin in crypto has not experienced such volatility... including BTC which, as you surely know, remains at barely above half what it once was.

So your "pink" thinking is duly noted and appreciated, but at the expense of reality and reiterated facts of crypto, we will not progress but maintain pipe dreams destined to fail instead.

In short: "Averaging down", does not work always -as a matter of fact it rarely does. Regardless of your level of faith or "pinkness", PC WILL indeed go up and down with as much volatility -and sometimes more- than any other GOOD digital currency.

Perhaps you should take those circumstances into consideration before sending your kid to do the solo tenor.

I hope you are not missing me anymore because, as long as I am invested in  PC -and I am more than I ever wanted to be-, you will have me here calling a spade a spade.

Oh and let me add also that, likewise, I don't see any validation whatsoever in your argument. Hence why we are in completely opposite sides on the issue.

[pookielax31]

[fayoling]

...TRIM

I hope you are not missing me anymore because, as long as I am invested in  PC -and I am more than I ever wanted to be-, you will have me here calling a spade a spade.

Oh and let me add also that, likewise, I don't see any validation whatsoever in your argument. Hence why we are in completely opposite sides on the issue.

[boxxa]

yea wtf is going on?

[boxxa]

Remember:

Google Hangout tonight at 8PM EST. Come talk, ask questions, and hear some new announcements with the project. Also, Danny/Cayce will be talking about WSOP news and his experience there.

[tranzium]

Remember:

Google Hangout tonight at 8PM EST. Come talk, ask questions, and hear some new announcements with the project. Also, Danny/Cayce will be talking about WSOP news and his experience there.

We are live as I type: https://www.youtube.com/watch?v=6nS9QvQ4Fww

[bluewhackadoo]

Remember:

Google Hangout tonight at 8PM EST. Come talk, ask questions, and hear some new announcements with the project. Also, Danny/Cayce will be talking about WSOP news and his experience there.

We are live as I type: https://www.youtube.com/watch?v=6nS9QvQ4Fww

PINK T-Shirts, PINK USB Wallets and PINKcoin prizes flying out the door, hurry in.

[boxxa]

For anyone that missed the podcast, we revealed our anon integration with the wallet and showed how simple it was to send anonymously.

Video coming soon and wallet release is on Monday for all 3 OS's.

[cryptoholic11]

Somebody wants to exit at 74 sats when the wallet is out on Monday? Barabbas is that you?
I tried to test it, and its still up there lol.

[boxxa]

Somebody wants to exit at 74 sats when the wallet is out on Monday? Barabbas is that you?
I tried to test it, and its still up there lol.

I just looked at the order book and seems like they got frustrated and dumped a bunch to people buying in the upper 60s. Buy support is strong which is great to see!

[cryptoholic11]

Somebody wants to exit at 74 sats when the wallet is out on Monday? Barabbas is that you?
I tried to test it, and its still up there lol.

I just looked at the order book and seems like they got frustrated and dumped a bunch to people buying in the upper 60s. Buy support is strong which is great to see!

It was a 3.5btc wall that got chewed out. The small dumps were afterwards. Beginning of a rally

[barabbas]

Somebody wants to exit at 74 sats when the wallet is out on Monday? Barabbas is that you?
I tried to test it, and its still up there lol.

No it is not me. I already traded out a couple of times. But my volume is extremely modest, less than 1 million, so...