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Author Topic: [Ann] A New Kind of Market  (Read 729 times)
teppy
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February 04, 2015, 01:44:48 PM
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Some of you know me as the designer of the gambling MMO Dragon's Tale, which I believe to be the longest-running Bitcoin based business in the world. I'm posting to announce a new venture that I have started.

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Pittsburgh, PA - PS Coin today is pleased to launch the first correctly incentivized market on www.pscoin.com. The unique PS Coin market algorithm encourages "healthy" behavior among traders in a market by awarding limit orders with royalties relative to their participation in helping produce a deep, dense, and stable market. Traders are automatically compensated for placing orders for as many units of currency as they can, as close to the bid-ask-spread as they dare, for having those orders sit there for a long time accumulating royalties, and then eventually having their orders trade. As a result of our incentive algorithm, all of the bids and asks you will see on the PS Coin markets are very likely to remain there. It's not an illusion of stability, as traders have come to experience many times in traditional markets. It's actual stability.

You are encouraged to watch our video for a detailed explanation of how the PS Coin algorithm works, by the conceiver of the algorithm himself and co-founder of PS Coin, Andrew Tepper: https://youtu.be/dLqhMIksOjU

PS Coin's engineering team has spent over a year in development, with the goal of building the most secure and most powerful exchange possible.

Security:

The majority of all funds which will be deposited to the PS Coin exchange are stored offline in bank vaults. For the rest, we have sought the expertise of cryptographers and decorated cybersecurity experts to design and engineer software security systems that far exceed industry standards for excellence. Because we can't accurately condense all of the information into this press release, you are encouraged to read more about how we will protect your funds on our security page: https://pscoin.com/Security/

Performance:

The PS Coin incentivized trading engine has to do a bit more work than standard exchanges, because it must process accumulation and capture of royalties for every order. Yet our C++ based engine can handle about 500,000 new orders per-second on a single commodity server.

Experience:

PS Coin engineers have extensive experience in the crypto-currency space. Co-founder Andrew Tepper is also the founder of eGenesis, the 14th company ever to accept Bitcoin as a currency, and creator of Dragon's Tale, which is likely the longest running Bitcoin based business in the world (in continuous operation since October 2010.)

Availability:

The PS Coin initial alpha launch will commence worldwide this morning at 9am EST and allow traders to participate in the following initial crypto currency markets:

* Bitcoin / Nxt
* Bitcoin / Darkcoin
* Bitcoin / Litecoin
* Bitcoin / Paycoin
* Bitcoin / Peercoin
* Nxt / Darkcoin
* Nxt / Litecoin

Our initial alpha testers can only sign up after receiving an invite. Press and media personnel are encouraged to request an invite from us directly via e-mailing our co-founder, Daniel Pusateri: daniel@pscoin.com - Upon request, a very small amount of funds may be provided to press and media personnel for the purpose of testing the PS Coin exchange.

Revelvant links:

Website: https://pscoin.com/
Interview: https://youtu.be/dLqhMIksOjU
Press materials: https://d1s3cnxrjam8j.cloudfront.net/dl/PSCoin_Press_Materials.zip

Dragon's Tale is the longest running Bitcoin enterprise in the world.
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February 04, 2015, 03:26:43 PM
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Can't wait to try this out. Seeing how cool Dragon's tale is, I know this'll be a home run!
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February 04, 2015, 03:51:52 PM
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interesting, but for a moment I thought it's a new coin

so it's actually a new exchange
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