Hiya, gimme a few more and I have another forum where I can give it away for free. I can't say which one since I'm just a member, but there are some pretty big hitters there, and a whole bunch of pinoys as well.
Let's talk about it later on. We still need to do something else.
When will we see the Faucet?
what's the next plan of dev team after the free distribution?
The faucet is still under development, which has taken most of our time. In fact, we may have to ask for more budget from our government client. Our main problem is how to discern if the wallet recipient is Filipino. Also we plan to send out epesos to 10,000 to 100,000 addresses.
After the distribution, we plan to test how holders will use epesos in a local environment (for example, one village). However we need to build simple infrastructures in order to enable that (over-the-counter exchanges, merchant acceptance, etc). We have been studying Hullcoin, so we look at that for guidance.
when will this be ready for trading
I've been reading the threads here at Bitcointalk. It seems the culture here is to acquire as much crypto-currencies by mining or by purchasing large amounts in order to "dump" to unsuspecting buyers. I'm sorry to say that exchange listing is the least of our priorities. We want this to work.
True but EPESO distribution was free and it needs some time to be valuable...
Right, and I'm not sure how that would ever happen.
If a government entity wants to create a Crypto currency that is official or somehow tied to or backed by their actual currency, they aren't going to BUY some existing tokens.
They are going to issue Tokens and require that they are purchased with Fiat pesos. They would have full control over the tokens population.
So, that said, I'm pretty sure this would be a prof of concept token which the apps, etc, are written to use. But, if those assets are accepted/acquired they would be switched to the officially backed government token.
If the Dev thinks or implies that these tokens would become the actual tokens I really think he is mistaken. If anything, the Gov't would "pay" him for any Software that he creates which they could then brand, sign, and tie to their official currency asset token. They also might hire him to help maintain/enhance any other infrastructure they require.
The congressional bill calls for 1 billion units, not 100 million units. If the government adopts epeso, they will probably issue 900,000,000 units more. Being an internet money, no entity can control its migration. The Philippine government can only guarantee 1 epeso per 1 php exchanged within its borders and its banks, but they cannot control its exchange outside its borders or in the internet.
Like we stated in the OP, we or the government may/may not compensate beta-users of epeso. We don't know. However, if the cost of building new infrastructures for a replacement token is greater, then, who knows. For example, total value of infrastructures built is $400,000, then every 250 epesos is equivalent to one US dollar (why start from scratch?).
The software is already paid for. We don't hold the rights.
UPDATE:We are still developing the faucet aimed at distributing to Filipinos. The free distribution have been slower at the other online community. It seems that most crypto-enthusiasts are already here in this forum. In that light, we will probably need to explain the concept of crypto-currencies to other Filipino communities.
If you're not happy with the free epeso given, I suggest you return it so we can give it away to someone else willing to participate.
