Re: [ANN][PSB] Pesobit, the currency for remittances and international cooperation
At the moment PSB is ridiculously cheap, so now is a great moment to buy more. It doesn't matter how much you buy and hold, it helps. I, myself have been gathering more and more, , and i'm goin to hold until 5000 sats at least. Remember that there isn't too many of these coins circulating, and it doesn't take many big bagholders to get the price up, just don't sell guys.
Its a deadcoin. Nothing is innovating from this, any coin can do this remittance thingy cos all you need is a proper gateway. Besides all you can do now is to hold cos no one is going to buy.
Damn, the fomo is real on here. Pesobit is barely a year old. I know this is crypto, but let the project progress the right way. In time the price will increase. It has a low coin supply which is a plus and a good dev behind who actually updates the PSB token holders on the regular. Yes any company can do remittance, but any coin can be a clone of Bitcoin too, hence 99% of all alts. Just buy while the price is cheap and stake them.
The 10 million pesobit added when they edited the blockchain scared off some potential big investors and long term hodlers.
if only the dev could burn those 10M, just maybe the investors will be back
dev team should correct this, 10M is already a huge amount and the sense that they can easily manipulate the supply should worsen the project.
We cannot just create 10 million PSB, nobody can.
The blockchain was not edited; it is almost impossible to edit a blockchain. Essentially, Pesobit 1.1 was created as a brand new coin, and a coin swap procedure was outlined (see Lutzow's January 28th post).
The reason for this new Pesobit 1.1 was twofold, firstly introduce PoSP as a staking algorithm upgrade, then we created 10 million coin to cover for a huge hack that had taken place with the online wallet. This coin creation procedure will not happen again, as the community reaction was very negative; but then people have to realize that, if we hadn't created these new coin, the PSB network would have disappeared because of people losing because of the hack.
Since then, the PSB online wallet has been unhackeable, so we have learned from past mistakes.
If people want to dump PSB, it's their choice. Me personally, I keep my PSB until a decent price is achieved, and then I will help by providing more liquidity without affecting market price.
The main goal of providing a useful and affordable method for Philippine remittances remains... a 28 billion US$ market that needs cryptocurrency's help.
Now if you don't like PSB anymore, for whatever reason, we can simply, again, create a new currency taking advantage of all the work that was done for Pesobit. Or we could just shut up and let Lutzow do his work and finish this project, possibly making a few of us believers much richer in the process.