For everyone who has been asking about the premine as of late...

Its located at this address:
UPRYB2QbDTq6rXT6TyfyRj1HxmGHnqiypB

And the current balance is:
1973755 CON

It has not moved since January 25th. 

Issuer's are licensed by Visa or Mastercard to issue cards.  You could make prepaid cards through an issuer and many have done that before.  But, that isn't what the roadmap promised.  It made specific mention of you putting Coino into an account and then as the transaction happens it converts and pays. 

To accomplish the roadmap, you would need to be an issuer.  That does mean dealing with Mastercard and having a substantial volume.  When all the Coino in the world is worth $25,000USD it going to be hard to raise the application fee.

I suggest you just call up Mastercard and become an issuer.  The world will beat a path to your door when you do.

Let me know how that goes for you.

There are a bunch of reasons why this will never, ever happen.  Not the least of which is the fact that digital currency is a direct competitor of Visa and Mastercard.  Anyone dreaming of a day when coino cards carry a Visa or Mastercard logo can just stop.  It simply won't happen.

If you need a longer list of compelling reasons why this was never realistic, PM me.

Well, not exactly.  See... I don't think there ever were "Coino cards" like the roadmap promised.  I mean it sounded good and its somewhat where I got the idea to use Coino for the POS machine... but the dev's coino cards don't exist.  They really can't as they explained them.  They were to be magic debit cards based in Germany that just happen to work everywhere in the world.  That isn't possible.  You can't even take a debit card from Canada to the USA and have it work, much less one from overseas. 

I wish they had never listed it as part of the roadmap.  It only confuses matters.  Its almost worth switching the POS project over to a different coin just to get away from it! 

I have a stack of Coino Cards sitting beside me now, but they have nothing to do with the Dev and their roadmap.  They are cards we created to work with our machine.  They don't work anywhere but our machines and never will.  There is no magic in them, they are just cards that contain either a magstrip that equates to a stored private key or a chipcard that holds an actual private key. 

The POS machine just gets that information to the backend server which then does the transactions on (or off) the blockchain. 

The simplest way to consider the POS is as a mobile wallet that only holds the keys as long as the card is inserted.  It is PCI compliant in that if you attempt to disassemble the unit to modify it / hack it to insert something to read those keys as they pass through, it destroys the shared key and can no longer communicate with the server.

Thats the same as modern day Visa and Mastercard POS machines.  If you mess with them, they don't work anymore.

It would be simplest if the old dev simply disappeared and didn't come back.  If they do, they will no doubt lie some more about their idea of "coino cards" that don't exist.  That will only further confuse matters.

I did try several times to talk with the dev about the project.  I wanted their blessing and wanted them on board.  I thought it would be a nice way for them to deliver on their roadmap.  But, they have never responded to any of my attempts.  The backend server is up and running and processing transactions without any input from them. 

If there is never any input from the dev again... it won't affect the project. 

Any coin that offers the low transaction time that Coino does would be ideal for the POS project.  Coino just happens to be the one I picked back when it looked like it was going someplace.  Now that its dead in the water, it just makes getting more Coino a lot cheaper to play around with the project.  I do regret when we purchased $500 of coino to have a pile to play with as we work on this project.  But that is a drop in the bucket compared to the equipment investment!

If our project takes off... and big if... stays using Coino, it would no doubt add value back into Coino.

There is already a similar project that does this with Bitcoin.  The idea isn't really new.  Its about doing it faster and cheaper while also making the equipment good for something other than digital currency.  I believe doing those three things better than the original POS project will make this a winner.

Its being developed and tested to work with Coino.  Nothing would stop it from working with the flavor of the week coin type as long as you added support to the back end system. 

Think of it as a different kind of exchange, the same steps that allow an exchange to add another coin type will allow another coin type on the machine. 

The reason Coino was picked to be first was simply about the transaction speed.  Waiting around ten or twenty minutes for bitcoin just doesn't work.  Thirty seconds isn't all that bad...

Even with a slow coin - you just have to decide if you are willing to trust a transaction to complete without waiting around for it.  For low value, maybe you do.  In the current design, most transactions are instant and only those that fall outside of the "trust rules" wait to be fully processed on the blockchain.

Reality check... all the coino in the world is currently worth $29,200 USD.  The entire premine is currently worth only 10BTC.  Of course with the current buy support, selling the premine to generate the BTC isn't actually possible.  There is only 1-2BTC available and to get it you have to tank the price down in the sub-100 level.

Thanks...

------

It is funny to see the reaction of some people here. 3 days no news and some of you going crazy. What do you want to hear? We stick to our plan on the roadmap.
I think it's impossible to satisfy some of you. You will just complain and complain again. Maybe Coino is not the right coin for you. No need to get aggressive again just think about it. We will not change our plan. We will update you guys WHEN we have something to update! We could just talk bullshit day by day and promise you things we can't keep. Do you want that?

You will just have to watch and see what will happen with coino. If you don't want that - please leave - really....please leave!

Btw. thanks for dumping the price and stop mining. This will make the real Coino supporter happy because they can buy cheap and mine with a low diff!

I'm holding over 200k coinos and I find it hilarious that people are losing and dumping coino. The price is insanely cheap right now but most people aren't aware of whats next so please keep dumping so us few can purchase cheap coinos.

*Coinos Cards:

Selling Coino Cards with X Value each Card at offline shops.
The Cashier at the offline shop scans the code of the card and get the real time
price via API from an exchange. Client says yes to 200 Coino for example, then the Card will be loaded with
200 Coino. Client can login in the online wallet and redeem it.


*Exchange Dollar - Coino

We already talked to a payment provider who will exchange the actual coino price directly to US-Dollar.


*Coino Debit Card

We will talk to Visa/Mastercard, to get our own Debit Cards for the online wallet.
The Prepaid Credit Card will be connected with your online wallet. When you withdrawal money from the Debit Card it will check your wallet for your balance and through API to exchange, it will payout money for the actual price of Coino at any ATM.

Add me :

addnode 69.30.254.58:1968 add




FaSan