[ANN][PSB] Pesobit, Philippine-based crypto created to cater the masses.

[pedrillo0]

It was not hacked and yes we sent emails from pesobit.net domain as a way to update everyone of the upcoming projects that is working in the background. The mistake at first though was that email addresses were placed under To instead of BCC so sorry for that. We will be sending an email or 2 from time to time to update everyone as the number of users grow, so I was looking for a way to update everyone and give you details about Pesobit.

As for the price, BTC is going strong so most people are going to BTC lately especially these last few days and most altcoins are down for the past week. Let's see at what price will BTC stabilize then we will see steady price in PSB again. By the way, I announced in social media an upcoming 3rd party service providers who are also the ones who provide bank encashment in the market.pesobit.net and the services that they'll be offering for Pesobit are Games, Invest, Bills Payment and a few more but they made it clear that the Invest option is not an HYIP as I told them that I won't promote their service if they will offer a service which they won't be able to sustain in the long run. These people are traders, gamblers and investors as well so HYIP is not something that they themselves won't be able to maintain. Currently they do have a 500k Staking PSB as collateral to the services that they will offer. The Bills Payment though is only for the Philippines and they haven't decided yet what will be their fees in such services.





- BENJAMIN PACHECO (Founder PSB)

[pedrillo0]

Hi Everyone,

Please ignore all the emails coming from [email protected] that are not being announced in our official Social Media Accounts in https://www.facebook.com/pesobitcrypto which is also being placed in https://twitter.com/pesobit.

Anyone can send an email and pretend to be [email protected], you can even google "fake email sender" or anything synonymous.

Also, password reset emails will only be sent if you processed a password reset so as Pesobit withdrawals from the online wallet.

Remember, if you receive an email regarding promotions, investments or anything else check it with Pesobit official social media accounts.

https://www.facebook.com/pesobitcrypto
AND
https://twitter.com/pesobit

As for where Pesobit is heading, dozens of apparels will be added in the marketplace within the next 2 weeks. Also it looks like the online wallet will add the feature to allow Filipino users to Buy prepaid credits directly from their accounts. It won't be instant though and it will be processed within 24 hours.

Regards,
Benjamin

[pedrillo0]

Today is the last day of 2016 and as we head on to 2017, I just want to remind you of what we have so far 15 weeks after Pesobit was launched.

Wallets:
Windows Wallet - https://github.com/pesobitph/pesobit-source/blob/master/pesobit-winqt.zip
MAC Wallet - https://github.com/pesobitph/pesobit-source/blob/master/Pesobit-Qt.dmg
Linux - https://github.com/pesobitph/pesobit-source/
Mobile Wallet - https://play.google.com/store/apps/details?id=com.coinomi.wallet
Online Wallet - https://wallet.pesobit.net

Exchanges:
Cryptopia - https://www.cryptopia.co.nz/Exchange?market=PSB_BTC
C-Cex - https://c-cex.com/?p=psb-btc
and a few more

ECommerce API - https://www.coinpayments.net/merchant-tools

Block Explorer - https://chainz.cryptoid.info/psb/

Marketplace - http://market.pesobit.net

And as we head on to 2017, Pesobit will just continue to grow as the Marketplace will continuously be filled up as hundreds of items are already lined up and will be added starting next week (once I'm back from vacation). See below screenshot for some of the items (all are apparels though).


Also, E-wallet.ph Services Inc processing will continue as soon as the holidays are over and will be processed for Corporate setup as well for partnership purposes. The screenshot below is for converting it from the old Sole Proprietary setup to a Corporate one.


Thanks to 2016 and let's welcome 2017. Enjoy the last few days of the holidays Smiley

PS: Reminder, please ignore those spammy emails pretending to be [email protected]

- BENJAMIN PACHECO (Founder PSB)

[bitmonk]

Let us see what is in store for us on Pesobit for this year 2017! Can't wait with all the upcoming updates!

[pedrillo0]

10 items were added to https://market.pesobit.net (and more to come).



Michael Kipsch group provided an update on their site. See screenshot below (the one with login, referral etc).




It seems we're going to have an Escrow and Crowdfund service in the Online Wallet with 0.5% charge but only accepts PSB and BTC but this is still in planning stage to smoothen the process.



Bank partner and VMoney are also waiting for the pending government paper so things can resume on their end.
I'm also now tapping freelancing groups as we start developing a freelancing website running off Pesobit Smiley

Media exposure is expensive, I already checked them out. If only our ICO reached at least close to 70 BTC there were more funds to use for advertisements. Or if it reached 100 BTC as planned, I could probably try to take a long leave from work to focus more on Pesobit development. But it's fine, I've been working for Pesobit outside of my regular job for months now so I got used to it already and will continue to do so.


- BENJAMIN PACHECO (Founder PSB)

[pedrillo0]

Fruitful meeting with gifted.ph. Will be adding their items in market.pesobit.net soon.

gifted.ph and giftaway.ph products are important especially for Overseas workers, at least with specific gift cards you know that what you gave to your families will be directed to the right purpose and not be spent on other things that they don't want you to know about.


- BENJAMIN PACHECO (Founder PSB)

[pedrillo0]

Hi Everyone,

After successful testing of PoSP in our test network these past few days, we will now try to implement it to the live network so exchanges, block explorers were contacted to halt Pesobit operations.
PoSP also increases staking rewards because the non-staking wallets' staking power will be given to those that are staking and what are the non-staking wallet? Exchange, mobile and other online wallets. As for our testing and computation, it increases staking profit from the current 5% (which is based on low-inflation of 5%) to 15-20% while maintaining the same rate of inflation. The current staking in the online wallet will continue with its current rate for those whose coins are locked brought by the old staking, but those who will have new staking will see a new set of increased staking bonuses.

To those who are using desktop wallets, your staking rewards will now be based on how often you have your wallets but it will be higher. This model also increases the number of nodes further as it rewards the desktop wallet users if their wallets are synced to the network which results to more stable, bigger and more decentralized network.

How long will it be down?
We'll try to implement the PoSP in the main node, let it sync and run as normal under PoSP. Then we'll do the same for the other linux and windows nodes to see if sync will work perfectly together with testing the staking rewards variation if some wallets are off. If you remember, we tried this prior to launching Pesobit but failed and said that I'll pursue PoSP still and now is the time before we go big. I can't give the exact time frame but a week of downtime for all the wallets might be possible.

I've been talking to potential investors of e-wallet.ph services for funding these past couple of weeks and was able to get some commitments together with more partnerships so there's no where to go for Pesobit but UP.


- BENJAMIN PACHECO (Founder PSB)

[pedrillo0]

Hi Everyone,

Please refrain from sending Pesobits across wallets. We might provide a new wallet if needed.

Thanks


- BENJAMIN PACHECO (Founder PSB)

[pedrillo0]

We're shifting to a new blockchain, we will be using the current balances of the blockchain. Those with balances in cryptopia need not to worry.
No need to send your PSBs to another wallet, here's what you can do.

1) Make a screenshot of your PSB Receiving address in Cryptopia, under Balances, that will also show your current balance then email to [email protected].
2) The online wallet will be reactivated with the old blockchain so you can send out your old Pesobits then it will be replaced with the new PoSP Pesobits
To those who have sent out their Pesobits already, please do the same including the transactions that your sent out your Pesobits and where it was sent to.

Further instructions will released once we have the new wallets ready for distribution.

- BENJAMIN PACHECO (Founder PSB)

[pedrillo0]

Hi Everyone,

The initial plan in the shift to the new blockchain is suppose to be smooth, redistributing the new wallet and new pesobits to the addresses that everyone can see in the block explorer but since cryptopia won't update their wallet we'll have to do auditing for their users.

1) For Cryptopia users:
- As stated earlier you need to send a screenshot of your balance to [email protected].
- We will open another online wallet for you which matches the old blockchain so you can send your pesobits there then it will be replaced by the new Pesobits with PoSP (you will receive instructions on your emails as soon as everything is ready for that migration)

2) Pesobits in other exchanges, just let it stay there for now until further notice as we'll be waiting for them to update their wallets.
3) Pesobits in the Online Wallet, have nothing to worry as it will be shifted to PoSP and everything will be the same for you guys. Staking earnings will be increased as well.
4) Pesobits in other systems like coinomi or coinpayments, we will be supplying them with new wallets as well.
5) Pesobits in Desktop Wallet, a new desktop wallet has been created. PoSP will benefit Desktop wallet users as you may get more than the old model's staking earnings without changing the rate of inflation of the coin so it still remains at 5%.

6) As for the news regarding Pesobits who got out of the Online wallet illegally, Eduardo (the ICO page and the online wallet creator) is investigating how there were unregistered withdrawals from the Online wallet which I found out while we are checking the transactions directly from the blockchain in preparation to the shift to PoSP. We've identified the addresses and the email addresses and as a corrective measure will edit the blockchain so those Pesobits will not be usable. And this change in the blockchain is what caused Pesobit to be delisted from Cryptopia (same reason why ETH got delisted). To clarify, programs and database were untouched based on our logfiles and security checks so all data are still safe as the problem could be a bug on the online wallet creator's code. One thing is for sure, all Pesobits will be replaced with the PoSP-version and we will be focusing first in auditing the Pesobits as well as migrating all the wallets.

7) So what's next after the PoSP migration? Projects will continue as usual as business license has been renewed, business meetings will resume to bring in more usage for Pesobit and many more.

The 'Illegal Pesobits' as what I call them is a big challenge and as much as I want to blame or point fingers as to how and why it happened I'd rather focus on providing resolution and overcome this hurdle. It's not on how hard you fall, it's on how you stand up and be better and Pesobit will surely do so with your support.

More announcement will be released as to what needs to be done with your old Pesobits, just look back to items 1-5 as to what needs to be done..

- BENJAMIN PACHECO (Founder PSB)

[pedrillo0]

Thanks everyone for all your emails regarding your Cryptopia balances, once we're done creating an old Pesobit system for your migration then we'll reply with the unique address for you to send the PSB to. We will be releasing the new wallets later this week for everyone to download and reopen the online wallet with new staking plans (a slightly higher one). In POSP though, you can get way more than the current 5% inflation rate if your connected most of the time because the non-staking wallets like exchange or mobile wallets relinquish their staking power and give them to the staking wallets (desktops).

- BENJAMIN PACHECO (Founder PSB)

[pedrillo0]

Pesobit's new version

We have completed the new Pesobit wallet software, and accordingly published it in github (https://github.com/pesobitph/pesobit-source/)
Basically, it uses same addresses so you have to clear your blockchain and resync using the new wallet.

The links has been sent to exchanges: Ccex, Yobit, NovaExchange, TradeSatoshi, CoinPayments.net, POSWallet and Coinomi.
As for Cryptopia who will no longer support Pesobit, we'll replace your old Pesobits with the new one just wait a little longer for the deposit addresses to be given to you.

So what's new with Pesobit?
1) PoSP or Proof-of-Staking Participation. PoSP allows Pesobit holders to earn more than the current 5% per annum staking rate while still maintaining the same inflation rate of the coin. In PoSP, the longer your desktop wallet is connected and staking the higher the rewards will be which makes sense because you're helping in securing the network by adding your wallet to the active nodes. The online wallet will use a fixed 7% per annum staking returns from the old 5%.

2) The total money offer of Pesobit will now stand at 32 millions from now on, to cover for the 10 million Pesobits illegally withdrawn from the PSB Online Wallet. So to counter the negative balance new Pesobits were created. The coins are not in CCex so they're cleared to continue trading. Other exchangers like Cryptopia may have those coins so trading, deposit and withdrawals were halted at that time. The new Pesobit software will ensure that a significant part of the stolen PSB's will no longer be usable. This is the reason why we're having a manual audit on Cryptopia users so I'd know that only those legit PSBs will be replaced with the new ones. Please note that some of these PSBs were already sold and unrecoverable, and this explains the recent large selloff that took place, just before I closed the Pesobit network.

As for how security was breached to allow this, it was not a hack but rather an exploit of a weakness in the Online Wallet that was used by a few users - I found out about this when auditing all the transactions in preparation for the migration towards PoSP. I already approached the Online wallet creator (Eduardo) about this and he apologizes for leaving this weakness found in our Online Wallet he created from the ground up. Eduardo has applied some extra security measures, among which people will not be able to withdraw automatically - there will be a manual review before a withdraw will be authorized. You will still receive a confirmation email upon withdrawal but it is simply to confirm that it was really you who did it. Pesobits from the Online Wallet will have a few hours delay but will try my best to keep it at a very minimum. It will only be like this though for a short period of time (1 or 2 weeks) until we get the withdrawals bug-free.


As time goes, we will keep working at identifying the users who initialted this exploit and illegally sent those PSBs out of the Online Wallet.  We will try to recover the lost Pesobits in an amicable way, with these users possibly buying back the sold Pesobits from the exchanges (or the Pesobits that were sold already). Anyway these Pesobits will no longer be usable since the new blockchain blocks the old one. This could bring back circulation of PSB to how it was before this event occured.
As always, our ambitious projects will continue, and the time has never been better to create systems around PSB, or to bring new PSB users to the community.


I will announce once the 3rd party systems are done upgrading their wallets then we'll bring all systems back up of course including the online wallet.

- BENJAMIN PACHECO (Founder PSB)

[pedrillo0]

For Desktop wallets, Coinomi and Cryptopia users, you need to send your old version of Pesobits to designated addresses below:
For Cryptopia users - P8rweRG5TXyCeZigoFxJjr2J95QjEFML1n
For Desktop wallet users - P9tqu8ySgHGyPgz5rmu8gRcLMbLYMhhXfy
For Coinomi users - PGJxMa1JaoP4oHmSY9Bk4CJKpbs3tYgVNJ

After having sent your PSBs from your old 1.0 Pesobit desktop wallet, Cryptopia account or Coinomi account, you need to send an email to [email protected] with the following information:

1) txid of your send PSB operation,
2) amount of PSBs claimed,
3) destination PSB wallet address*

*IMPORTANT this destination PSB address must be from the new blockchain! It can be from a new 1.1 desktop PSB wallet or from the online wallet (https://wallet.pesobit.net - which is now updated to new Pesobit blockchain 1.1)).

If you choose to send in an address from a Desktop wallet, after sending in your old PSBs, you will need to install the new 1.1 wallet. Here is the procedure:
1) Click Start then type %appdata% which should take you to Roaming folder
2) Open the Pesobit folder then delete all files EXCEPT wallet.dat. You might want to make a copy of this wallet.dat somewhere else for backup purposes.
3) Download the new Windows wallet from https://github.com/pesobitph/pesobit-source/pesobit-qt.exe
4) Open it then wait for it to sync (should not take too long).
5) Reply to the email stating that your wallet is already being upgraded.
6) Then wait for the new Pesobits to be received.

The best option though is to create Pesobit online wallet account at https://wallet.pesobit.net since all balances there are in the new version already.

For CCex, Yobit, Nova Exchange and TradeSatoshi users. Please wait for furthe    r updates as I'm also waiting for their wallet upgrade to be completed.

Since wallet.pesobit.net and upgraded desktop wallets are all in the new blockchain. Be CAREFUL in sending your Pesobits out to other users or other systems since sending your Pesobits across another chain will result to LOST coins.

NOTE: Online wallet or the https://wallet.pesobit.net will be available in few hours time.

For any concerns feel free to email [email protected]


- BENJAMIN PACHECO (Founder PSB)

[fikihafana]

For Desktop wallets, Coinomi and Cryptopia users, you need to send your old version of Pesobits to designated addresses below:
For Cryptopia users - P8rweRG5TXyCeZigoFxJjr2J95QjEFML1n
For Desktop wallet users - P9tqu8ySgHGyPgz5rmu8gRcLMbLYMhhXfy
For Coinomi users - PGJxMa1JaoP4oHmSY9Bk4CJKpbs3tYgVNJ

After having sent your PSBs from your old 1.0 Pesobit desktop wallet, Cryptopia account or Coinomi account, you need to send an email to [email protected] with the following information:

1) txid of your send PSB operation,
2) amount of PSBs claimed,
3) destination PSB wallet address*

*IMPORTANT this destination PSB address must be from the new blockchain! It can be from a new 1.1 desktop PSB wallet or from the online wallet (https://wallet.pesobit.net - which is now updated to new Pesobit blockchain 1.1)).

If you choose to send in an address from a Desktop wallet, after sending in your old PSBs, you will need to install the new 1.1 wallet. Here is the procedure:
1) Click Start then type %appdata% which should take you to Roaming folder
2) Open the Pesobit folder then delete all files EXCEPT wallet.dat. You might want to make a copy of this wallet.dat somewhere else for backup purposes.
3) Download the new Windows wallet from https://github.com/pesobitph/pesobit-source/pesobit-qt.exe
4) Open it then wait for it to sync (should not take too long).
5) Reply to the email stating that your wallet is already being upgraded.
6) Then wait for the new Pesobits to be received.

The best option though is to create Pesobit online wallet account at https://wallet.pesobit.net since all balances there are in the new version already.

For CCex, Yobit, Nova Exchange and TradeSatoshi users. Please wait for furthe    r updates as I'm also waiting for their wallet upgrade to be completed.

Since wallet.pesobit.net and upgraded desktop wallets are all in the new blockchain. Be CAREFUL in sending your Pesobits out to other users or other systems since sending your Pesobits across another chain will result to LOST coins.

NOTE: Online wallet or the https://wallet.pesobit.net will be available in few hours time.

For any concerns feel free to email [email protected]


- BENJAMIN PACHECO (Founder PSB)

Thanks for your info, i will doing swap afteri got sync to old chain

[fikihafana]

i got my coin in new chain, thanks dev