PayCoin Online Wallet is Closing

By | Uncategorized | No Comments

The PayCoin Foundation has decided to discontinue online wallet services.  Wallet.paycoin.com will be closing at 9pm EST on May 8, 2015, giving coin holders two (2) weeks to move all XPY to their desktop wallet or other wallet services available.  All withdrawals will be manually processed by support staff.  Any balances remaining in web wallets after shutdown on May 8 will be donated to a charity.  Online wallet services hosted by the PayCoin Foundation can no longer be sustained due to the constant threats in security.  The resources, both financial and developmental, that are necessary to fortify and maintain the system are not currently available.With this transition, we want to focus on helping people connect with and understand crypto currency better. Instead of being disconnected from how everything works by using the managed wallet online, we want to help empower people new to desktop wallet use by helping them through this process and teaching them how to use desktop wallets.  Our support team will continue to be available for any assistance needed and will also be introducing a live chat support option. Additionally, we will be exploring development for a custom Raspberry PI Web Interface for wallet set ups.
Instructions for downloading the desktop wallet and the wallet download can be found here:

Link to instructions:
http://talk.paycoin.com/discussion/709/new-paycoin-wallet-installation-instructions

Link to download:
http://Paycoin.com

 

Releasing Paycoin Wallet Update – Version 0.2

By | Uncategorized | No Comments

April 13, 2015

The Paycoin Foundation along with Paycoin Core Development Corp. proudly present the update everyone has been waiting for: new wallets for Linux, Mac and Windows.

A collaborative effort and thorough testing of solutions lead to the new versions. The update addresses several major and minor fixes, the 2 most important ones being the dreaded ‘checkpoint error’ and the known stalls of initial download of the blockchain. Additionally, the list address grouping function was merged and stake rate changes were updated.

There is also a change in the staking rate for all of the prime controllers to 100% stake rate across the board. This stake rate change only effects the prime controller wallets and will take effect as of April 20th 2015

As always with a wallet update, be sure to have a backup of your wallet before you upgrade to the new version. The new version is compatible with the previous one, but it’s better to be safe than sorry.

Minimal issues may arise with this release. If you encounter any issues our support team is ready to assist.

Please go to paycoin.com
to download the new wallet release.

Declaration of Paycoin’s Independence

By | Uncategorized | No Comments

“But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.”

– Declaration of Independence –

The fate of Paycoin is now in the hands of every person and organization that hold coins.  With this new found freedom, we want to exercise our rights to make Paycoin the people’s money and do what is necessary to help the coin thrive.

For the benefit of the Paycoin community;  value, stability, and longevity of Paycoin, it is proposed that new terms be adopted for Paycoin Prime Nodes, both current and future.

These improvements will be implemented and start to remedy the most important issues and concerns with the current the state of Paycoin.  The coin will become truly decentralized, the state of hyperinflation Paycoin will be over.  The market will have greater ability to maintain stability during Prime Node decommissioning and bidding.

The  Paycoin Foundation supports these proposals and is pleased to join other entities in creating a better future for the coin and those who support it and want to use it.

The New Prime Node agreement can be found here.

 

4/11/13 Updated link to signed document for the Prime Node agreement.

PayCoin Foundation Takes Leadership of Coin Development

By | Uncategorized | No Comments

March 12, 2015
Houston, TX
The PayCoin Foundation would like to formally announce that it has taken responsibility of the development of PayCoin. All future updates of the source code for PayCoin will be released via the Paycoin Foundation Github.
PayCoin has multiple tools at its disposal to help with market growth, stability, security and inflation control. It is very important that these tools are implemented correctly through coin development with flexibility to adapt as the coin grows.
Coin development and paycoin.com are supported by Team PayCoin, a volunteer group formed from within the PayCoin community. In addition to Team PayCoin, the foundation is also actively seeking potential partners to aid in coin development.
Though we are not currently disclosing development plans, we want to make it clear that a fix to the checkpoint error in the current wallet as well as a fix to the blockchain synchronization issue that stalls the updating of the wallet will be our first release.
The PayCoin Foundation has a roadmap for coin development however we feel it is important to hear from the community prior to finalizing any plans. There are multiple items that were discussed with the community through the white paper produced by GAW Miners, LLC. This has formed the understanding of how the community expected PayCoin to work. If this is going to be a community coin, we need to hear from the community. So we are leaving this discussion open for response. Share your thoughts with us at talk.paycoin.com

Relaunch of Paycoin.com

By | Uncategorized | No Comments

February 23, 2015

Houston, TX

 

The PayCoin Foundation announces it has taken responsibility of Paycoin.com to facilitate the adoption of cryptocurrency by consumers and merchants.  Operating as a nonprofit organization, the foundation has set a number of goals to promote all legitimate cryptocurrency.   According to Adam Matlack, President and Chairman, the foundation’s goals are to promote, educate, and empower people of all cultural backgrounds and socioeconomic status to spend, send, and save with cryptocurrency and to help lead the world to see the benefits of cryptocurrency as a whole.

 

Since the inception of cryptocurrency, the world has seen the technology largely in a negative light.  With the creation of PayCoin and now PayCoin Foundation, the foundation aims to bring transparency, legitimacy, and integrity to an industry that is not known for such.  The foundation intends to achieve this by being an independent organization, supported by the PayCoin community.  The foundation is committed to working with the entire cryptocurrency community at large, as well as working with financial agencies to ensure PayCoin is accepted as a viable global payment option.

The foundation is committed to operational, administrative, and financial transparency and stewardship.  The foundation is not currently accepting fiat donations due to its pending 501c3 status.  Future donations will go toward the development and adoption of PayCoin.  The PayCoin foundation currently operates with no administrative costs, relying on a team of volunteers.

 

Over the past several months, the foundation formed teams of international developers, marketers, and enthusiasts, known as Team PayCoin, to work towards the foundation’s goal of PayCoin’s mass market adoption as a digital currency.  Team PayCoin has already released numerous tools, development APIs, and websites to help support PayCoin’s global adoption.  With the collaboration of these teams, the PayCoin Foundation announces the relaunch of Paycoin.com.

 

Moving forward, the PayCoin Foundation plans to help make PayCoin the easiest cryptocurrency for users to spend and merchants to accept.

 

For more information, visit Paycoinfoundation.org.