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/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Additional Bitcoin statistics can be found here. Developer resources can be found here and here. Peer-reviewed research papers can be found here and here. And of course, the whitepaper that started it all :)

Where can I buy bitcoins?

You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, more can be found here.
Here is a listing of local ATMs. Also, Lawnmower is also a handy way to make small recurring purchases of bitcoin. If you would like your paycheck auotmatically converted to bitcoin use Cashila or Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Here are a couple useful sites (bitkoin.io, preev.com) that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "be your own bank" and personally secure your bitcoins OR you can use third party companies aka "bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

Comprehensive lists can be found at the Trade FAQ or The Bitcoin Directory, some more commons ones are below.
Store Product
Steam, Disco Melee, HumbleBundle, GreenmanGaming, and Coinplay.io For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, Rakuten, DuoSearch and BazaarBay Retail shopping with millions of results
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
NewEgg, TigerDirect and Dell For all your electronic needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LRoS, Wagepoint, Hyphen.to Bill payment
Foodler and Takeaway Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege and 9flats For when you need to get away
BoltVM VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker to allow users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Tipping

Use ChangeTip.com (/changetip) for tipping people on Facebook, Reddit, Twitter, YouTube, Tumblr, Google+, GitHub, Slack and more! (you can even use custom monikers to tailor your tip to the discussion or add a bit of humor). Read more about ChangeTip at their reddit wiki.

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

Maybe you're here because you've received a tip on social media, or maybe you've just been hearing a lot recently about Bitcoin and are wondering what the big deal is? The following videos are a good starting point for understanding how bitcoin works and a little bit about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV . Peer-reviewed, research papers can be found here.

Where can I buy bitcoins?

You can buy or sell any amount of bitcoin (from as little as $1 worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank account. A good list of exchanges sorted by region can be found on the exchanges wiki here.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Here are a couple useful sites [bitkoin.io, preev.com] that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Where can I spend bitcoins?

Store Product
Microsoft Xbox games, phone apps and software
Spendabit and The Bitcoin Shop Search engines of online retailers accepting bitcoin with millions of results
Overstock and Rakuten Everything under the sun
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
NewEgg, TigerDirect and Dell For all your electronic needs
Expedia, Cheapair, Destinia and 9flats For when you need to get away
BoltVM, Namecheap, Mullvad and PIA Handy web services
Foodler and Takeaway Takeout delivered to your door!
HumbleBundle, GreenmanGaming, and Coinplay.io For when you need to get your game on
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. UK residents can find a comprehensive directory of shops, pubs, websites and other places in the UK that accept bitcoins at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.
Additional resources can also be found at TheBitcoinPage.com

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The friendly folks at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. You can view the global node distribution here.

Securing your bitcoins

With bitcoin you can "be your own bank" and personally secure your bitcoins OR you can use established companies such as Coinbase and Circle which have secured wallets where they hold the bitcoins for you and provide insurance.
If you prefer to "be your own bank" and have direct control over your coins without having to use a trusted third party, there are many options in the wallets wiki. If you would prefer easy and secure storage without having to learn computer security best practices then a hardware wallet such as the Trezor, Ledger or HW-1 is recommended.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access.
Google Authenticator Authy
Android Android
iOS iOS

Earning bitcoins

Just like any other form of money, you can earn bitcoins by working for them. Here are a few resources for bitcoin jobs.

Tipping

Fundraising

You can use Lighthouse to crowdsource fundraising initiatives with bitcoin. It's similar to Kickstarter, but without intermediaries or exorbitant fees. You can participate in project discussions at /LighthouseProjects, and watch the progress of fundraisers at lightlist.io.

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Payment channels for network scaling
Blockstream Sidechains
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Augur and Mirror Prediction markets
Factom Records & Titles on the blockchain
Open Bazaar, Provistor and Bitmarket Decentralized free markets
Zerocash, Dark Wallet and Joinmarket Privacy enhancement
ShapeShift.io The easiest way to swap between bitcoin and altcoins
BitShares Decentralized exchange
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
Maidsafe Decentralized internet
Storj and Sia Decentralized file storage
21e6 Internet of things??
Streamium Decentralized video streaming
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail Multisig bitcoin API
Copay Open source mulltisig wallet by BitPay
Bitcore Open source javascript library by BitPay
Insight Open source blockchain API by BitPay
Foxtrot Open source routing network from BitPay
La'Zooz Decentralized Ridesharing
Leet Kill your friends and take their money ;)
Lawnmower Spare change into bitcoin

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
If you want to use 'bits' exclusively, just remember that there are 100 satoshis in 1 bit, and 1 million bits in one bitcoin. For more information check out the Bitcoin units wiki.
Still have questions? The friendly folks at /BitcoinBeginners would be happy to help you out, or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending mod approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BashCo to Bitcoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

Maybe you're here because you've received a tip on social media, or maybe you've just been hearing a lot recently about Bitcoin and are wondering what the big deal is? The following videos are a good starting point for understanding how bitcoin works and a little bit about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV . Peer-reviewed, research papers can be found here and here. Developer resources can be found here. Lots of Bitcoin statistics can be found here.

Where can I buy bitcoins?

You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank account. A good list of exchanges sorted by region can be found on the exchanges wiki here.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Here are a couple useful sites [bitkoin.io, preev.com] that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "be your own bank" and personally secure your bitcoins OR you can use established companies which have secured wallets where they hold the bitcoins for you and provide insurance.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below.
Google Authenticator Authy
Android Android
iOS iOS

Tipping

Use ChangeTip.com (/changetip) for tipping people on Facebook, Reddit, Twitter, YouTube, Tumblr, Google+, GitHub, Slack and more! (you can even use custom monikers to tailor your tip to the discussion or add a bit of humor). Read more about ChangeTip at their reddit wiki.
Go to /FreeBits to get a few bits to practice with and then tip them forward. Go to /BitTippers to play games and solve riddles to earn your bits. Don't forget your flair!

Where can I spend bitcoins?

Store Product
Microsoft Xbox games, phone apps and software
Spendabit and The Bitcoin Shop Search engines of online retailers accepting bitcoin with millions of results
Overstock and Rakuten Everything under the sun
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
NewEgg, TigerDirect and Dell For all your electronic needs
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky and 9flats For when you need to get away
BoltVM VPS service
Namecheap For new domain name registration
Cryptostorm, Mullvad, and PIA VPN services
Foodler and Takeaway Takeout delivered to your door!
HumbleBundle, Disco Melee, GreenmanGaming, and Coinplay.io For when you need to get your game on
Reddit Gold Premium membership which can be gifted to others
Shipnik Discounted USPS Priority & Express mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. UK residents can find a comprehensive directory of shops, pubs, websites and other places in the UK that accept bitcoins at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.
Additional resources can also be found at TheBitcoinPage.com

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker to allow users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Fundraising

You can use Lighthouse to crowdsource fundraising initiatives with bitcoin. It's similar to Kickstarter, but without intermediaries or exorbitant fees. You can participate in project discussions at /LighthouseProjects, and watch the progress of fundraisers at lightlist.io.

Bitcoin Projects

Here is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
If you want to use 'bits' exclusively, just remember that there are 100 satoshis in 1 bit, and 1 million bits in one bitcoin. For more information check out the Bitcoin units wiki.
Still have questions? The friendly folks at /BitcoinBeginners would be happy to help you out, or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

Cryptocurrency Weekly Recap

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome To The /Bitcoin Sticky FAQ

Maybe you're here because you've received a tip on social media, or maybe you've just been hearing a lot recently about Bitcoin and are wondering what the big deal is? The following videos are a good starting point for understanding how bitcoin works and a little bit about its long term potential:
For lots of additional video resources check out the videos wiki page.

Where can I buy bitcoins?

You can buy or sell any amount of bitcoin (from as little as $1 worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank account. A good list of exchanges sorted by region can be found on the exchanges wiki here.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in a 24/7/365 balance of supply vs demand. Here are a couple useful sites [1] and [2] that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Where can I spend bitcoins?

An extensive list can be found at TheBitcoinPage.com but some of the key ones are below:
Store Product
Microsoft Xbox games, phone apps and software
Spendabit and The Bitcoin Shop Search engines of online retailers accepting bitcoin with millions of results
Overstock Everything under the sun
Gyft Gift cards for thousands of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, etc.
NewEgg, TigerDirect and Dell For all your electronic needs
Expedia, Cheapair and 9flats For when you need to get away
Wordpress, Namecheap, Mullvad and PIA Handy web services
Foodler and Takeaway Takeout delivered to your door!
HumbleBundle and GreenmanGaming For when you need to get your game on
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. UK residents can find a comprehensive directory of shops, pubs, websites and other places in the UK that accept bitcoins at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun hobby but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The friendly folks at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide.

Securing your bitcoins

With bitcoin you can be your own bank and personally secure your bitcoins or you can use trusted companies such as Coinbase and Circle which have secured wallets where they hold the bitcoins for you and provide insurance.
If you prefer to have direct control over your coins without having to use a trusted third party there are many options in the wallets wiki.
For increased security use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access.
Android 2FA
iOS 2FA

Earning bitcoins

Just like any other form of money, you can earn bitcoins by working for them. Here are a few resources for bitcoin jobs.

Tipping

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common ones are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (ml) or millimeter (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μl) or micrometre (μm)
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? The friendly folks at /BitcoinBeginners would be happy to help you out. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. If you're looking for more advanced information, an extensive list of (frequently updated) bitcoin related, peer-reviewed, research papers can be found here.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending mod approval. The original sticky can still be found here.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BashCo to Bitcoin [link] [comments]

Important Statement

Important statement
Published on August 25, 2017
Introduction
Hello everybody!
Our ICO was already launched two weeks ago. These two weeks came with many unforeseen events, as you probably noticed. However, we are still here and we will remain here for a long time, if not forever. In this statement, we will discuss the problems we have faced in the past two weeks and the solutions we have implemented for solving these pitfalls. We will also update you on several important points, on our predictions for the weeks to come and on upcoming events for transparency purposes.
What we are doing now is revolutionary and does not exist anywhere else. Giving you private Bitcoin, Ethereum and Litecoin addresses linked to your PlexCoin account and exchanging real-time purchases in PlexCoin is not a technology that exists elsewhere at this time. It is a new technology that completely prevents fraud or cryptocurrency theft risks. Several ICOs have been robbed. It is your money that was stolen. It is important to protect it effectively.
Displaying a single Bitcoin, Ethereum, Litecoin, or other cryptocurrency address in an ICO channels the entire value in one place. It is therefore very attractive for hackers to attack this address. As soon as your virtual currency reaches PlexCoin, it is automatically exchanged to its real-time value. Your PlexCoin are then transferred to your private PlexCoin/Ethereum wallet, and the cryptocurrency that you used to purchase these PlexCoin is transferred to a coldwallet and is protected from threats.
We operate the same way for payments by credit card, debit card or Paypal. Some of you will say that they have already seen the credit card payment option in other ICOs. These ICOs are small, therefore their transactions go unnoticed by credit companies or by PayPal. As soon as the volume of transactions increases, the account is noticed and suspended. We will come back to that later in this statement.
We thank you for your encouragement and for the support that you are showing us since the very beginning of this adventure. We also thank all the people who did not believe in us and who changed their mind along the way. Our most grateful acknowledgement goes to those who believed in us since the very beginning. Your energy is magnificent and motivates the entire PlexCorps team.
History of the issues and solutions
August 6, 13h00 GMT
The whole team is ready and is excited to finally launch a project that will change the financial world.
August 6, 14h00 GMT
Launch of our ICO and launch of the Bitcoin, Ethereum and credit card payment options.
August 6, 15h00 GMT
Due to the high number of credit card transactions, our supplier has virtually rejected all transactions. We then post a warning message on Facebook.
Solution: We communicate with our supplier and we change some of the safety rules. An hour and a half later, credit card payments work well again.
August 7, 1h00 GMT
Our credit card payment provider receives an anonymous complaint from people who have created a Reddit page in order to shut us down and cause us as much damage as possible without valuable motives.
Therefore, our supplier decides to cancel our credit card payment service.
August 7, 2h00 GMT
Our Bitcoin servers are slowed down. There are too many incoming transactions and the service becomes very slow.
Solution: We increase the resources dedicated to Bitcoin transactions and the problem is quickly fixed.
August 7, 12h00 GMT
We already reached the point of no return. The pre-sale starts off very well, although we still do not accept credit cards. Meanwhile, our team is negotiating with PayPal to offer the card payment option again as soon as possible.
August 7, 18h00 GMT
PayPal payments work again. We continue our tools’ assessment and we publish on Facebook to keep you informed of the developments.
August 8, 12h00 GMT
Our main website is attacked by the group that wants to shut us down. Many complaints are filed to our registrar. We receive over 2 000 emails per hour. Our team is overwhelmed!
Solution: We switch our DNS addresses to the plexcoin.org domain. The page comes back online, but the .com domain remains shut down.
August 8, 18h00 GMT
The plexcoin.com domain is back online.
August 8, 21h00 GMT
We decide to extend the presale by a week because of the problems encountered during the last days and to allow people to buy some PlexCoin.
August 9, 11h00 GMT
Another attack on the plexcoin.com and plexcoin.org websites occurs. Several complaints are filed to our registrar. Our two domains are suspended.
Solution: We switch our DNS addresses to the plexcoin.tech domain, which is hosted by another registrar. We post a message on Facebook to invite people to visit plexcoin.tech.
August 9, 19h00 GMT
PayPal payments are available again.
August 9, 21h00 GMT
We had problems with missing Bitcoin addresses on some clients’ accounts. This issue is fixed and the missing addresses are distributed.
August 10, 1h00 GMT
PayPal receives complaints from the group that is doing everything to shut us down and decides to suspend our account to carry out assessments.
Solution: After negotiating with Paypal for hours and realizing that there would be no agreement, we decided to refund all the people who paid by this means and compensate them by depositing 100 PlexCoin in their account.
August 10, 13h00 GMT
We implement a unique encryption system that uses a portion of your private PlexCoin address to encrypt your email address, your password and your wallet. Security is very important to us. That's why we invented a new type of encryption system based on your private virtual currency address, so it is undecryptable.
August 10, 20h00 GMT
Plexcoin.com is back online after long negotiations with our registrar.
August 11, 9h00 GMT
Our team starts to work on the new payment solution. It will provide more than 15 payment options. This new technology needs to be analyzed, created and assessed. We are confident that with this new offering, we will sell the 400 million PlexCoin before the end of the pre-sale.
August 11, 19h00 GMT
More than 100 000 members support our project. We have the much needed motivation to continue our progression.
August 14, 9h00 GMT
A few days passed without encountering any problem. We develop the new payment option, and improve our structure and customer access at the same time.
August 14, 20h00 GMT
We release a form to report issues regarding transactions. We select people from the team who will dedicate themselves to solving the problems and to reply to the messages regarding that matter.
August 15, 19h00 GMT
The Litecoin payment option is functional.
August 15, 20h00 GMT
All the pending Bitcoin transactions are now approved. The next ones will automatically be approved according to the blockchain status.
August 15, 21h00 GMT
The 100 PLX bonuses for reimbursed PayPal transactions are distributed.
August 15, 22h00 GMT
All the pending Ethereum transactions are approved. From then on, they will automatically be approved according to the blockchain status.
August 22, 20h00 GMT
All the purchased PlexCoin are distributed to the members’ private addresses. PlexCoin officially exists from this moment on. People officially possess the PlexCoin that they bought.
Now
As time goes by, the issues become less serious. We announced several good news over the past days. It is important to inform you of any change, problem or implemented solution when an issue occurs. Although we know that many customers are unhappy when we encounter problems, it is our duty to inform you about everything that is going on at PlexCoin.
Please note that Facebook is the platform we currently use to keep our members updated. We are working on the development of a blog and of a service status and server status platform. We plan to come out on several social networks soon.
Other general issues
Other general issues
Due to the high number of members and the problems encountered in the last weeks, our customer service team could not reply to all the messages.
Solution: We have expanded the customer service team, set up an automatic email sorting system, reactivated the Facebook Messenger service, added a form to report issues regarding transactions, and created standardized responses to speed up the response delay.
Important
Transaction icons on your client access
Orange clock
The orange clock means that your transaction has been received. Your PlexCoin are reserved and they are in your account, but the transaction is not yet confirmed. For Ethereum and Litecoin transactions, depending on the blockchain load, confirmation can take up to 12 hours, but usually takes 15 minutes. Bitcoin transactions can be confirmed in as long as 48 hours, but generally confirm within two hours. For payments by credit cards, debit cards or PayPal, the delay is of 45 days because according to the law, you have up to 45 days to request a refund with these payment options. If the transaction is approved, we will distribute your PlexCoin. If you requested a refund from your bank before this time and we would have distributed your PlexCoin, you would get your money back and we would have no way of recovering our PlexCoin since it would already be in your private wallet. Therefore, this measure is taken to avoid fraud and abuse, and to protect PlexCoin’s value.
Transaction bonuses are added to your account when your transaction is approved (green checkmark).
The PlexCoin are distributed in your private wallet when your transaction is approved (green checkmark).
All bonuses will be distributed at the end of the pre-sale, as they come from another PlexCoin wallet (the one reserved for bonuses).
Green checkmark
The green checkmark means that your transaction is processed and confirmed.
Blue star
The blue star shows that you have received some bonus PlexCoin.
Red circle with a diagonal line
This icon indicates that your transaction was denied or cancelled. Your payment did not make it through or the amount was refunded. The PlexCoin were removed from your account.
Form
We received more than 800 transaction issue reports in a few days, and more than half of the forms were reported twice or more. We first sorted out the requests and then distributed the requests to our IT team, which fixes the transactions one by one. There have been no new transaction issues for a few days. The wait is now coming to an end. We have corrected exactly 82% of all transaction issues as of now.
Any error that caused transaction problems was corrected several days ago.
Exclusion
We removed the exclusion clause from our terms and conditions because it caused a lot of confusion. Instead, we've added a clause that invites you to review the laws of your country before purchasing PlexCoin.
Countdown
On your customer access, in the card purchase section, there is a countdown that indicates the time remaining before your private purchase date by card. This countdown is implemented according to the registration order of our members so that the first people who registered to the pre-sale have the chance to buy by card in priority. We will allow 500 people per hour to buy with our new payment option, from September 5, 20h00 GMT. This is not to overload our new payment system.
From your date and time of purchase on, you can buy at any time and the number of times you want.
Next weeks’ forecast
The card payment option is the most requested one on social networks and we talk about it unceasingly. PlexCoin’s mission is to facilitate access to cryptocurrencies. We must provide the card payment option.
We thus developed a user-friendly system that gives you the option to buy PlexCoin without limits of transaction number or of purchase amounts.
This option will also be available on the PlexWallet.
Our option will come with no boundaries, unlike other platforms that limit purchases to $ 100 or $ 200. You may buy for $ 100 000.00 if you want.
Advertisement
Advertising is currently paused. We want to complete the development of our technologies, provide card payment options and reactivate the .com domain before relaunching advertisement.
Advertising will be resumed as soon as we decide that it is possible to welcome new members.
Exchange platforms
When the pre-sale comes to the end, we will have a few days to distribute the bonuses. You will then receive your private key in order to sell, exchange and transfer your PlexCoin. You will also be asked to enable the double authentication on your account to protect your money.
You will then be able to sell, to buy or to trade your PlexCoin from the PlexWallet. We will be on coinmarketcap.com, so you will be able to follow the evolution PlexCoin’s value. The first external exchange platform that we will be on is Bittrex. Others will follow in a timely manner.
Bonus lock
Currently, all bonuses have a lock at their right. You will soon be able to check if your transactions total at least US $ 100. Those who meet this requirement will see the lock disappear. Their bonus PlexCoin will then be available. They will be transferred to your private wallet at the end of the pre-sale.
Anyone who has accumulated bonus PlexCoin but who will not have purchased more than US $ 100 before the end of the pre-sale will lose their bonus. These will be deposited in the main PlexCoin bonus wallet.
PlexCard ranking
Over the next days, the ranking of buyers who will be eligible for one of the PlexCards will be indicated on the client access. We will notify you when this is online. Please note that the people who will receive the Platinium Member and Helper Member cards have already been determined, as these cards are distributed to those who bought first.
The ranking for the Ultimate Member card is changing all the time. You will soon see your position on the list. You will be able to try to make it among the 500 top buyers, thus receive this unique card that will offer incredible advantages.
Delay before the end of the presale
As mentioned in one of our latest publications on Facebook, we will extend the pre-sale by around 14 days. This number of days will be exactly the same number of days you will have waited before accessing the card payment. We want to respect our commitment to let you 30 days to buy your PlexCoin by having access to all our payment options.
Domain
Currently, plexcorps.com, plexcoin.com and plexcoin.org are all hosted by the same registrar. They were suspended because according to the registrar’s terms and conditions, they do not accept customers who offer cryptocurrency.
It was a detail that we did not notice when we moved our domains to this place. It must be said that the complaints made on Reddit did not help us.
We are therefore waiting patiently for the date when we can transfer our domains elsewhere to reactivate them. We can already tell you that plexcorps.com will be transferred early next week, so it will officially be back online.
The delay will be slightly longer for plexcoin.com and plexcoin.org. There will be two weeks of wait before they can be transferred. After that, the .com will return, and we will close the other temporary domains (.org and .tech).
It is then just a matter of time.
Relaunch
We currently sold more than 20 000 000 PlexCoin. The three quarters of these were sold in the first days. We are aware that the sales slowed down due to the problems we faced and the limited payment options we are currently offering. We are bouncing back, and we are preparing a fantastic relaunch plan.
A combination of solidity, transparency, card payments and advertising will ensure that we will sell the 400 million PlexCoin. We are confident. We will continually develop and improve our products. Our motivation comes from your support and our dream of changing the financial world.
Did you know? When you buy a coffee with your credit card, the money goes through more than ten vendors before arriving in the merchant's pockets. Each provider takes its percentage of profit, and your money is transferred more than ten times before being deposited into the beneficiary's account.
When you make a transaction with the PlexCard, there is no third party. The money will be deposited directly into the merchant's account. The transaction will therefore be safer, will involve much less fees and will be totally confidential.
Our members
We bet to those who have already followed ICOs other than PlexCoin that they have never seen so much action in such a short time! We make a lot of noise with our unusual methods. Many people have written articles and blog posts about us, and have gone to great lengths to create us a reputation of frauds and thieves. They have no evidence of that, except that we are different. However, the tide is turning. People who did not believe in us at first come to see us in public and in private to apologize and encourage us.
To help us, and to help increase the value of your PlexCoin, it would be nice if you take the time to go on the forums or blogs that slander us to express your point of view and show your confidence in PlexCoin to the world.
When most of the negative articles about us were written, we had not yet distributed our white paper. Our methods were already different from all other known ICOs. We understand that this has raised some questions, but we do not understand that people immediately defamed us without evidence.
For the past two weeks, we have carried out several actions that clearly prove that we are here for the right reasons. We are constantly progressing.
Finally, we work hard to outpace Bitcoin. We aim to release the next global currency that can be used everywhere and that will be accepted by every business in the world. PlexCoin is not only a virtual currency, it is also a card, a wallet and a bank!
We work for you, and we ask you to work for us. Let's turn the financial world inside out. Share your experience with others to erase the bad reputation that critics have attempted to establish for us.
Acknowledgements
We often thank you, but it will never be enough to equal your trust in our project. Over the next two weeks, many things will change. You will see the sale levels go up and the PlexCoin sell rapidly. We will build a great relationship with people who did not trust us at first. We will shine, and PlexCoin’s value will increase.
We will be on coinmarketcap. Card payments will be available. We will launch our Spanish website. The official plexcoin.com domain will be back. We will set up the last details so that the end of our pre-sale runs effortlessly.
Official link
Facebook: https://www.facebook.com/plexcoin
Internet: https://www.plexcoin.tech
Email: [email protected]
We appreciate that you took the time to read this statement. Should you have any question, please contact our team at [email protected].
Have a great weekend everybody!
The PlexCorps team
submitted by 5MonkeyPunches to plexcoin [link] [comments]

Important Announcement from Plexcoin.

Published on August 25, 2017
Introduction
Hello everybody!
Our ICO was already launched two weeks ago. These two weeks came with many unforeseen events, as you probably noticed. However, we are still here and we will remain here for a long time, if not forever. In this statement, we will discuss the problems we have faced in the past two weeks and the solutions we have implemented for solving these pitfalls. We will also update you on several important points, on our predictions for the weeks to come and on upcoming events for transparency purposes.
What we are doing now is revolutionary and does not exist anywhere else. Giving you private Bitcoin, Ethereum and Litecoin addresses linked to your PlexCoin account and exchanging real-time purchases in PlexCoin is not a technology that exists elsewhere at this time. It is a new technology that completely prevents fraud or cryptocurrency theft risks. Several ICOs have been robbed. It is your money that was stolen. It is important to protect it effectively.
Displaying a single Bitcoin, Ethereum, Litecoin, or other cryptocurrency address in an ICO channels the entire value in one place. It is therefore very attractive for hackers to attack this address. As soon as your virtual currency reaches PlexCoin, it is automatically exchanged to its real-time value. Your PlexCoin are then transferred to your private PlexCoin/Ethereum wallet, and the cryptocurrency that you used to purchase these PlexCoin is transferred to a coldwallet and is protected from threats.
We operate the same way for payments by credit card, debit card or Paypal. Some of you will say that they have already seen the credit card payment option in other ICOs. These ICOs are small, therefore their transactions go unnoticed by credit companies or by PayPal. As soon as the volume of transactions increases, the account is noticed and suspended. We will come back to that later in this statement.
We thank you for your encouragement and for the support that you are showing us since the very beginning of this adventure. We also thank all the people who did not believe in us and who changed their mind along the way. Our most grateful acknowledgement goes to those who believed in us since the very beginning. Your energy is magnificent and motivates the entire PlexCorps team.
History of the issues and solutions
August 6, 13h00 GMT
The whole team is ready and is excited to finally launch a project that will change the financial world.
August 6, 14h00 GMT
Launch of our ICO and launch of the Bitcoin, Ethereum and credit card payment options.
August 6, 15h00 GMT
Due to the high number of credit card transactions, our supplier has virtually rejected all transactions. We then post a warning message on Facebook.
Solution: We communicate with our supplier and we change some of the safety rules. An hour and a half later, credit card payments work well again.
August 7, 1h00 GMT
Our credit card payment provider receives an anonymous complaint from people who have created a Reddit page in order to shut us down and cause us as much damage as possible without valuable motives.
Therefore, our supplier decides to cancel our credit card payment service.
August 7, 2h00 GMT
Our Bitcoin servers are slowed down. There are too many incoming transactions and the service becomes very slow.
Solution: We increase the resources dedicated to Bitcoin transactions and the problem is quickly fixed.
August 7, 12h00 GMT
We already reached the point of no return. The pre-sale starts off very well, although we still do not accept credit cards. Meanwhile, our team is negotiating with PayPal to offer the card payment option again as soon as possible.
August 7, 18h00 GMT
PayPal payments work again. We continue our tools’ assessment and we publish on Facebook to keep you informed of the developments.
August 8, 12h00 GMT
Our main website is attacked by the group that wants to shut us down. Many complaints are filed to our registrar. We receive over 2 000 emails per hour. Our team is overwhelmed!
Solution: We switch our DNS addresses to the plexcoin.org domain. The page comes back online, but the .com domain remains shut down.
August 8, 18h00 GMT
The plexcoin.com domain is back online.
August 8, 21h00 GMT
We decide to extend the presale by a week because of the problems encountered during the last days and to allow people to buy some PlexCoin.
August 9, 11h00 GMT
Another attack on the plexcoin.com and plexcoin.org websites occurs. Several complaints are filed to our registrar. Our two domains are suspended.
Solution: We switch our DNS addresses to the plexcoin.tech domain, which is hosted by another registrar. We post a message on Facebook to invite people to visit plexcoin.tech.
August 9, 19h00 GMT
PayPal payments are available again.
August 9, 21h00 GMT
We had problems with missing Bitcoin addresses on some clients’ accounts. This issue is fixed and the missing addresses are distributed.
August 10, 1h00 GMT
PayPal receives complaints from the group that is doing everything to shut us down and decides to suspend our account to carry out assessments.
Solution: After negotiating with Paypal for hours and realizing that there would be no agreement, we decided to refund all the people who paid by this means and compensate them by depositing 100 PlexCoin in their account.
August 10, 13h00 GMT
We implement a unique encryption system that uses a portion of your private PlexCoin address to encrypt your email address, your password and your wallet. Security is very important to us. That's why we invented a new type of encryption system based on your private virtual currency address, so it is undecryptable.
August 10, 20h00 GMT
Plexcoin.com is back online after long negotiations with our registrar.
August 11, 9h00 GMT
Our team starts to work on the new payment solution. It will provide more than 15 payment options. This new technology needs to be analyzed, created and assessed. We are confident that with this new offering, we will sell the 400 million PlexCoin before the end of the pre-sale.
August 11, 19h00 GMT
More than 100 000 members support our project. We have the much needed motivation to continue our progression.
August 14, 9h00 GMT
A few days passed without encountering any problem. We develop the new payment option, and improve our structure and customer access at the same time.
August 14, 20h00 GMT
We release a form to report issues regarding transactions. We select people from the team who will dedicate themselves to solving the problems and to reply to the messages regarding that matter.
August 15, 19h00 GMT
The Litecoin payment option is functional.
August 15, 20h00 GMT
All the pending Bitcoin transactions are now approved. The next ones will automatically be approved according to the blockchain status.
August 15, 21h00 GMT
The 100 PLX bonuses for reimbursed PayPal transactions are distributed.
August 15, 22h00 GMT
All the pending Ethereum transactions are approved. From then on, they will automatically be approved according to the blockchain status.
August 22, 20h00 GMT
All the purchased PlexCoin are distributed to the members’ private addresses. PlexCoin officially exists from this moment on. People officially possess the PlexCoin that they bought.
Now
As time goes by, the issues become less serious. We announced several good news over the past days. It is important to inform you of any change, problem or implemented solution when an issue occurs. Although we know that many customers are unhappy when we encounter problems, it is our duty to inform you about everything that is going on at PlexCoin.
Please note that Facebook is the platform we currently use to keep our members updated. We are working on the development of a blog and of a service status and server status platform. We plan to come out on several social networks soon.
Other general issues
Other general issues
Due to the high number of members and the problems encountered in the last weeks, our customer service team could not reply to all the messages.
Solution: We have expanded the customer service team, set up an automatic email sorting system, reactivated the Facebook Messenger service, added a form to report issues regarding transactions, and created standardized responses to speed up the response delay.
Important
Transaction icons on your client access
Orange clock
The orange clock means that your transaction has been received. Your PlexCoin are reserved and they are in your account, but the transaction is not yet confirmed. For Ethereum and Litecoin transactions, depending on the blockchain load, confirmation can take up to 12 hours, but usually takes 15 minutes. Bitcoin transactions can be confirmed in as long as 48 hours, but generally confirm within two hours. For payments by credit cards, debit cards or PayPal, the delay is of 45 days because according to the law, you have up to 45 days to request a refund with these payment options. If the transaction is approved, we will distribute your PlexCoin. If you requested a refund from your bank before this time and we would have distributed your PlexCoin, you would get your money back and we would have no way of recovering our PlexCoin since it would already be in your private wallet. Therefore, this measure is taken to avoid fraud and abuse, and to protect PlexCoin’s value.
Transaction bonuses are added to your account when your transaction is approved (green checkmark).
The PlexCoin are distributed in your private wallet when your transaction is approved (green checkmark).
All bonuses will be distributed at the end of the pre-sale, as they come from another PlexCoin wallet (the one reserved for bonuses).
Green checkmark
The green checkmark means that your transaction is processed and confirmed.
Blue star
The blue star shows that you have received some bonus PlexCoin.
Red circle with a diagonal line
This icon indicates that your transaction was denied or cancelled. Your payment did not make it through or the amount was refunded. The PlexCoin were removed from your account.
Form
We received more than 800 transaction issue reports in a few days, and more than half of the forms were reported twice or more. We first sorted out the requests and then distributed the requests to our IT team, which fixes the transactions one by one. There have been no new transaction issues for a few days. The wait is now coming to an end. We have corrected exactly 82% of all transaction issues as of now.
Any error that caused transaction problems was corrected several days ago.
Exclusion
We removed the exclusion clause from our terms and conditions because it caused a lot of confusion. Instead, we've added a clause that invites you to review the laws of your country before purchasing PlexCoin.
Countdown
On your customer access, in the card purchase section, there is a countdown that indicates the time remaining before your private purchase date by card. This countdown is implemented according to the registration order of our members so that the first people who registered to the pre-sale have the chance to buy by card in priority. We will allow 500 people per hour to buy with our new payment option, from September 5, 20h00 GMT. This is not to overload our new payment system.
From your date and time of purchase on, you can buy at any time and the number of times you want.
Next weeks’ forecast
The card payment option is the most requested one on social networks and we talk about it unceasingly. PlexCoin’s mission is to facilitate access to cryptocurrencies. We must provide the card payment option.
We thus developed a user-friendly system that gives you the option to buy PlexCoin without limits of transaction number or of purchase amounts.
This option will also be available on the PlexWallet.
Our option will come with no boundaries, unlike other platforms that limit purchases to $ 100 or $ 200. You may buy for $ 100 000.00 if you want.
Advertisement
Advertising is currently paused. We want to complete the development of our technologies, provide card payment options and reactivate the .com domain before relaunching advertisement.
Advertising will be resumed as soon as we decide that it is possible to welcome new members.
Exchange platforms
When the pre-sale comes to the end, we will have a few days to distribute the bonuses. You will then receive your private key in order to sell, exchange and transfer your PlexCoin. You will also be asked to enable the double authentication on your account to protect your money.
You will then be able to sell, to buy or to trade your PlexCoin from the PlexWallet. We will be on coinmarketcap.com, so you will be able to follow the evolution PlexCoin’s value. The first external exchange platform that we will be on is Bittrex. Others will follow in a timely manner.
Bonus lock
Currently, all bonuses have a lock at their right. You will soon be able to check if your transactions total at least US $ 100. Those who meet this requirement will see the lock disappear. Their bonus PlexCoin will then be available. They will be transferred to your private wallet at the end of the pre-sale.
Anyone who has accumulated bonus PlexCoin but who will not have purchased more than US $ 100 before the end of the pre-sale will lose their bonus. These will be deposited in the main PlexCoin bonus wallet.
PlexCard ranking
Over the next days, the ranking of buyers who will be eligible for one of the PlexCards will be indicated on the client access. We will notify you when this is online. Please note that the people who will receive the Platinium Member and Helper Member cards have already been determined, as these cards are distributed to those who bought first.
The ranking for the Ultimate Member card is changing all the time. You will soon see your position on the list. You will be able to try to make it among the 500 top buyers, thus receive this unique card that will offer incredible advantages.
Delay before the end of the presale
As mentioned in one of our latest publications on Facebook, we will extend the pre-sale by around 14 days. This number of days will be exactly the same number of days you will have waited before accessing the card payment. We want to respect our commitment to let you 30 days to buy your PlexCoin by having access to all our payment options.
Domain
Currently, plexcorps.com, plexcoin.com and plexcoin.org are all hosted by the same registrar. They were suspended because according to the registrar’s terms and conditions, they do not accept customers who offer cryptocurrency.
It was a detail that we did not notice when we moved our domains to this place. It must be said that the complaints made on Reddit did not help us.
We are therefore waiting patiently for the date when we can transfer our domains elsewhere to reactivate them. We can already tell you that plexcorps.com will be transferred early next week, so it will officially be back online.
The delay will be slightly longer for plexcoin.com and plexcoin.org. There will be two weeks of wait before they can be transferred. After that, the .com will return, and we will close the other temporary domains (.org and .tech).
It is then just a matter of time.
Relaunch
We currently sold more than 20 000 000 PlexCoin. The three quarters of these were sold in the first days. We are aware that the sales slowed down due to the problems we faced and the limited payment options we are currently offering. We are bouncing back, and we are preparing a fantastic relaunch plan.
A combination of solidity, transparency, card payments and advertising will ensure that we will sell the 400 million PlexCoin. We are confident. We will continually develop and improve our products. Our motivation comes from your support and our dream of changing the financial world.
Did you know? When you buy a coffee with your credit card, the money goes through more than ten vendors before arriving in the merchant's pockets. Each provider takes its percentage of profit, and your money is transferred more than ten times before being deposited into the beneficiary's account.
When you make a transaction with the PlexCard, there is no third party. The money will be deposited directly into the merchant's account. The transaction will therefore be safer, will involve much less fees and will be totally confidential.
Our members
We bet to those who have already followed ICOs other than PlexCoin that they have never seen so much action in such a short time! We make a lot of noise with our unusual methods. Many people have written articles and blog posts about us, and have gone to great lengths to create us a reputation of frauds and thieves. They have no evidence of that, except that we are different. However, the tide is turning. People who did not believe in us at first come to see us in public and in private to apologize and encourage us.
To help us, and to help increase the value of your PlexCoin, it would be nice if you take the time to go on the forums or blogs that slander us to express your point of view and show your confidence in PlexCoin to the world.
When most of the negative articles about us were written, we had not yet distributed our white paper. Our methods were already different from all other known ICOs. We understand that this has raised some questions, but we do not understand that people immediately defamed us without evidence.
For the past two weeks, we have carried out several actions that clearly prove that we are here for the right reasons. We are constantly progressing.
Finally, we work hard to outpace Bitcoin. We aim to release the next global currency that can be used everywhere and that will be accepted by every business in the world. PlexCoin is not only a virtual currency, it is also a card, a wallet and a bank!
We work for you, and we ask you to work for us. Let's turn the financial world inside out. Share your experience with others to erase the bad reputation that critics have attempted to establish for us.
Acknowledgements
We often thank you, but it will never be enough to equal your trust in our project. Over the next two weeks, many things will change. You will see the sale levels go up and the PlexCoin sell rapidly. We will build a great relationship with people who did not trust us at first. We will shine, and PlexCoin’s value will increase.
We will be on coinmarketcap. Card payments will be available. We will launch our Spanish website. The official plexcoin.com domain will be back. We will set up the last details so that the end of our pre-sale runs effortlessly.
Official link
Facebook: https://www.facebook.com/plexcoin
Internet: https://www.plexcoin.tech
Email: [email protected]
We appreciate that you took the time to read this statement. Should you have any question, please contact our team at [email protected].
Have a great weekend everybody!
The PlexCorps team
submitted by 5MonkeyPunches to CryptoCurrency [link] [comments]

Important Statement from Plexcoin

Important statement
Published on August 25, 2017
Introduction
Hello everybody!
Our ICO was already launched two weeks ago. These two weeks came with many unforeseen events, as you probably noticed. However, we are still here and we will remain here for a long time, if not forever. In this statement, we will discuss the problems we have faced in the past two weeks and the solutions we have implemented for solving these pitfalls. We will also update you on several important points, on our predictions for the weeks to come and on upcoming events for transparency purposes.
What we are doing now is revolutionary and does not exist anywhere else. Giving you private Bitcoin, Ethereum and Litecoin addresses linked to your PlexCoin account and exchanging real-time purchases in PlexCoin is not a technology that exists elsewhere at this time. It is a new technology that completely prevents fraud or cryptocurrency theft risks. Several ICOs have been robbed. It is your money that was stolen. It is important to protect it effectively.
Displaying a single Bitcoin, Ethereum, Litecoin, or other cryptocurrency address in an ICO channels the entire value in one place. It is therefore very attractive for hackers to attack this address. As soon as your virtual currency reaches PlexCoin, it is automatically exchanged to its real-time value. Your PlexCoin are then transferred to your private PlexCoin/Ethereum wallet, and the cryptocurrency that you used to purchase these PlexCoin is transferred to a coldwallet and is protected from threats.
We operate the same way for payments by credit card, debit card or Paypal. Some of you will say that they have already seen the credit card payment option in other ICOs. These ICOs are small, therefore their transactions go unnoticed by credit companies or by PayPal. As soon as the volume of transactions increases, the account is noticed and suspended. We will come back to that later in this statement.
We thank you for your encouragement and for the support that you are showing us since the very beginning of this adventure. We also thank all the people who did not believe in us and who changed their mind along the way. Our most grateful acknowledgement goes to those who believed in us since the very beginning. Your energy is magnificent and motivates the entire PlexCorps team.
History of the issues and solutions
August 6, 13h00 GMT
The whole team is ready and is excited to finally launch a project that will change the financial world.
August 6, 14h00 GMT
Launch of our ICO and launch of the Bitcoin, Ethereum and credit card payment options.
August 6, 15h00 GMT
Due to the high number of credit card transactions, our supplier has virtually rejected all transactions. We then post a warning message on Facebook.
Solution: We communicate with our supplier and we change some of the safety rules. An hour and a half later, credit card payments work well again.
August 7, 1h00 GMT
Our credit card payment provider receives an anonymous complaint from people who have created a Reddit page in order to shut us down and cause us as much damage as possible without valuable motives.
Therefore, our supplier decides to cancel our credit card payment service.
August 7, 2h00 GMT
Our Bitcoin servers are slowed down. There are too many incoming transactions and the service becomes very slow.
Solution: We increase the resources dedicated to Bitcoin transactions and the problem is quickly fixed.
August 7, 12h00 GMT
We already reached the point of no return. The pre-sale starts off very well, although we still do not accept credit cards. Meanwhile, our team is negotiating with PayPal to offer the card payment option again as soon as possible.
August 7, 18h00 GMT
PayPal payments work again. We continue our tools’ assessment and we publish on Facebook to keep you informed of the developments.
August 8, 12h00 GMT
Our main website is attacked by the group that wants to shut us down. Many complaints are filed to our registrar. We receive over 2 000 emails per hour. Our team is overwhelmed!
Solution: We switch our DNS addresses to the plexcoin.org domain. The page comes back online, but the .com domain remains shut down.
August 8, 18h00 GMT
The plexcoin.com domain is back online.
August 8, 21h00 GMT
We decide to extend the presale by a week because of the problems encountered during the last days and to allow people to buy some PlexCoin.
August 9, 11h00 GMT
Another attack on the plexcoin.com and plexcoin.org websites occurs. Several complaints are filed to our registrar. Our two domains are suspended.
Solution: We switch our DNS addresses to the plexcoin.tech domain, which is hosted by another registrar. We post a message on Facebook to invite people to visit plexcoin.tech.
August 9, 19h00 GMT
PayPal payments are available again.
August 9, 21h00 GMT
We had problems with missing Bitcoin addresses on some clients’ accounts. This issue is fixed and the missing addresses are distributed.
August 10, 1h00 GMT
PayPal receives complaints from the group that is doing everything to shut us down and decides to suspend our account to carry out assessments.
Solution: After negotiating with Paypal for hours and realizing that there would be no agreement, we decided to refund all the people who paid by this means and compensate them by depositing 100 PlexCoin in their account.
August 10, 13h00 GMT
We implement a unique encryption system that uses a portion of your private PlexCoin address to encrypt your email address, your password and your wallet. Security is very important to us. That's why we invented a new type of encryption system based on your private virtual currency address, so it is undecryptable.
August 10, 20h00 GMT
Plexcoin.com is back online after long negotiations with our registrar.
August 11, 9h00 GMT
Our team starts to work on the new payment solution. It will provide more than 15 payment options. This new technology needs to be analyzed, created and assessed. We are confident that with this new offering, we will sell the 400 million PlexCoin before the end of the pre-sale.
August 11, 19h00 GMT
More than 100 000 members support our project. We have the much needed motivation to continue our progression.
August 14, 9h00 GMT
A few days passed without encountering any problem. We develop the new payment option, and improve our structure and customer access at the same time.
August 14, 20h00 GMT
We release a form to report issues regarding transactions. We select people from the team who will dedicate themselves to solving the problems and to reply to the messages regarding that matter.
August 15, 19h00 GMT
The Litecoin payment option is functional.
August 15, 20h00 GMT
All the pending Bitcoin transactions are now approved. The next ones will automatically be approved according to the blockchain status.
August 15, 21h00 GMT
The 100 PLX bonuses for reimbursed PayPal transactions are distributed.
August 15, 22h00 GMT
All the pending Ethereum transactions are approved. From then on, they will automatically be approved according to the blockchain status.
August 22, 20h00 GMT
All the purchased PlexCoin are distributed to the members’ private addresses. PlexCoin officially exists from this moment on. People officially possess the PlexCoin that they bought.
Now
As time goes by, the issues become less serious. We announced several good news over the past days. It is important to inform you of any change, problem or implemented solution when an issue occurs. Although we know that many customers are unhappy when we encounter problems, it is our duty to inform you about everything that is going on at PlexCoin.
Please note that Facebook is the platform we currently use to keep our members updated. We are working on the development of a blog and of a service status and server status platform. We plan to come out on several social networks soon.
Other general issues
Other general issues
Due to the high number of members and the problems encountered in the last weeks, our customer service team could not reply to all the messages.
Solution: We have expanded the customer service team, set up an automatic email sorting system, reactivated the Facebook Messenger service, added a form to report issues regarding transactions, and created standardized responses to speed up the response delay.
Important
Transaction icons on your client access
Orange clock
The orange clock means that your transaction has been received. Your PlexCoin are reserved and they are in your account, but the transaction is not yet confirmed. For Ethereum and Litecoin transactions, depending on the blockchain load, confirmation can take up to 12 hours, but usually takes 15 minutes. Bitcoin transactions can be confirmed in as long as 48 hours, but generally confirm within two hours. For payments by credit cards, debit cards or PayPal, the delay is of 45 days because according to the law, you have up to 45 days to request a refund with these payment options. If the transaction is approved, we will distribute your PlexCoin. If you requested a refund from your bank before this time and we would have distributed your PlexCoin, you would get your money back and we would have no way of recovering our PlexCoin since it would already be in your private wallet. Therefore, this measure is taken to avoid fraud and abuse, and to protect PlexCoin’s value.
Transaction bonuses are added to your account when your transaction is approved (green checkmark).
The PlexCoin are distributed in your private wallet when your transaction is approved (green checkmark).
All bonuses will be distributed at the end of the pre-sale, as they come from another PlexCoin wallet (the one reserved for bonuses).
Green checkmark
The green checkmark means that your transaction is processed and confirmed.
Blue star
The blue star shows that you have received some bonus PlexCoin.
Red circle with a diagonal line
This icon indicates that your transaction was denied or cancelled. Your payment did not make it through or the amount was refunded. The PlexCoin were removed from your account.
Form
We received more than 800 transaction issue reports in a few days, and more than half of the forms were reported twice or more. We first sorted out the requests and then distributed the requests to our IT team, which fixes the transactions one by one. There have been no new transaction issues for a few days. The wait is now coming to an end. We have corrected exactly 82% of all transaction issues as of now.
Any error that caused transaction problems was corrected several days ago.
Exclusion
We removed the exclusion clause from our terms and conditions because it caused a lot of confusion. Instead, we've added a clause that invites you to review the laws of your country before purchasing PlexCoin.
Countdown
On your customer access, in the card purchase section, there is a countdown that indicates the time remaining before your private purchase date by card. This countdown is implemented according to the registration order of our members so that the first people who registered to the pre-sale have the chance to buy by card in priority. We will allow 500 people per hour to buy with our new payment option, from September 5, 20h00 GMT. This is not to overload our new payment system.
From your date and time of purchase on, you can buy at any time and the number of times you want.
Next weeks’ forecast
The card payment option is the most requested one on social networks and we talk about it unceasingly. PlexCoin’s mission is to facilitate access to cryptocurrencies. We must provide the card payment option.
We thus developed a user-friendly system that gives you the option to buy PlexCoin without limits of transaction number or of purchase amounts.
This option will also be available on the PlexWallet.
Our option will come with no boundaries, unlike other platforms that limit purchases to $ 100 or $ 200. You may buy for $ 100 000.00 if you want.
Advertisement
Advertising is currently paused. We want to complete the development of our technologies, provide card payment options and reactivate the .com domain before relaunching advertisement.
Advertising will be resumed as soon as we decide that it is possible to welcome new members.
Exchange platforms
When the pre-sale comes to the end, we will have a few days to distribute the bonuses. You will then receive your private key in order to sell, exchange and transfer your PlexCoin. You will also be asked to enable the double authentication on your account to protect your money.
You will then be able to sell, to buy or to trade your PlexCoin from the PlexWallet. We will be on coinmarketcap.com, so you will be able to follow the evolution PlexCoin’s value. The first external exchange platform that we will be on is Bittrex. Others will follow in a timely manner.
Bonus lock
Currently, all bonuses have a lock at their right. You will soon be able to check if your transactions total at least US $ 100. Those who meet this requirement will see the lock disappear. Their bonus PlexCoin will then be available. They will be transferred to your private wallet at the end of the pre-sale.
Anyone who has accumulated bonus PlexCoin but who will not have purchased more than US $ 100 before the end of the pre-sale will lose their bonus. These will be deposited in the main PlexCoin bonus wallet.
PlexCard ranking
Over the next days, the ranking of buyers who will be eligible for one of the PlexCards will be indicated on the client access. We will notify you when this is online. Please note that the people who will receive the Platinium Member and Helper Member cards have already been determined, as these cards are distributed to those who bought first.
The ranking for the Ultimate Member card is changing all the time. You will soon see your position on the list. You will be able to try to make it among the 500 top buyers, thus receive this unique card that will offer incredible advantages.
Delay before the end of the presale
As mentioned in one of our latest publications on Facebook, we will extend the pre-sale by around 14 days. This number of days will be exactly the same number of days you will have waited before accessing the card payment. We want to respect our commitment to let you 30 days to buy your PlexCoin by having access to all our payment options.
Domain
Currently, plexcorps.com, plexcoin.com and plexcoin.org are all hosted by the same registrar. They were suspended because according to the registrar’s terms and conditions, they do not accept customers who offer cryptocurrency.
It was a detail that we did not notice when we moved our domains to this place. It must be said that the complaints made on Reddit did not help us.
We are therefore waiting patiently for the date when we can transfer our domains elsewhere to reactivate them. We can already tell you that plexcorps.com will be transferred early next week, so it will officially be back online.
The delay will be slightly longer for plexcoin.com and plexcoin.org. There will be two weeks of wait before they can be transferred. After that, the .com will return, and we will close the other temporary domains (.org and .tech).
It is then just a matter of time.
Relaunch
We currently sold more than 20 000 000 PlexCoin. The three quarters of these were sold in the first days. We are aware that the sales slowed down due to the problems we faced and the limited payment options we are currently offering. We are bouncing back, and we are preparing a fantastic relaunch plan.
A combination of solidity, transparency, card payments and advertising will ensure that we will sell the 400 million PlexCoin. We are confident. We will continually develop and improve our products. Our motivation comes from your support and our dream of changing the financial world.
Did you know? When you buy a coffee with your credit card, the money goes through more than ten vendors before arriving in the merchant's pockets. Each provider takes its percentage of profit, and your money is transferred more than ten times before being deposited into the beneficiary's account.
When you make a transaction with the PlexCard, there is no third party. The money will be deposited directly into the merchant's account. The transaction will therefore be safer, will involve much less fees and will be totally confidential.
Our members
We bet to those who have already followed ICOs other than PlexCoin that they have never seen so much action in such a short time! We make a lot of noise with our unusual methods. Many people have written articles and blog posts about us, and have gone to great lengths to create us a reputation of frauds and thieves. They have no evidence of that, except that we are different. However, the tide is turning. People who did not believe in us at first come to see us in public and in private to apologize and encourage us.
To help us, and to help increase the value of your PlexCoin, it would be nice if you take the time to go on the forums or blogs that slander us to express your point of view and show your confidence in PlexCoin to the world.
When most of the negative articles about us were written, we had not yet distributed our white paper. Our methods were already different from all other known ICOs. We understand that this has raised some questions, but we do not understand that people immediately defamed us without evidence.
For the past two weeks, we have carried out several actions that clearly prove that we are here for the right reasons. We are constantly progressing.
Finally, we work hard to outpace Bitcoin. We aim to release the next global currency that can be used everywhere and that will be accepted by every business in the world. PlexCoin is not only a virtual currency, it is also a card, a wallet and a bank!
We work for you, and we ask you to work for us. Let's turn the financial world inside out. Share your experience with others to erase the bad reputation that critics have attempted to establish for us.
Acknowledgements
We often thank you, but it will never be enough to equal your trust in our project. Over the next two weeks, many things will change. You will see the sale levels go up and the PlexCoin sell rapidly. We will build a great relationship with people who did not trust us at first. We will shine, and PlexCoin’s value will increase.
We will be on coinmarketcap. Card payments will be available. We will launch our Spanish website. The official plexcoin.com domain will be back. We will set up the last details so that the end of our pre-sale runs effortlessly.
Official link
Facebook: https://www.facebook.com/plexcoin
Internet: https://www.plexcoin.tech
Email: [email protected]
We appreciate that you took the time to read this statement. Should you have any question, please contact our team at [email protected].
Have a great weekend everybody!
The PlexCorps team
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