Dear PRCY Family
here you can find the script of the AMA session made in cooperation with Robin Crypto on Friday, 7th May 2021
Hello Mr. Dion. How are you?
Hello to everyone. I am Hilal and editör at CoinNET. Soon we will start the AMA event with Mr. Dion. At the end of the event, a total of 6000 PCRY awards will be given to three people who asked the best question. I wish everyone a pleasant time.
All my next answers will be in English, I would like to welcome you all in our first AMA, we really like it
I am sure you have a lot of exciting things to share with us today. Could you introduce yourself and PRCY?
Yes ofcourse, I will start with Who we are as a team
We are community members of former Privacy projects and initiated this project in December 2020, we are really fresh
Together with a group of developers,we started the PRCY project to have a decentralizedenvironment from day 0. The founders, I am co founder of PRCY, are a group of people with different backgrounds withan excellent mix of skills.
We have got blockchain technology developers, Entrepreneurs,knowing how to start and to run multiple enterprises, Business Developers, like me, focused on the architecture of financial solutions and angel investors bringing in wisdom of life.
The project is funded by the owners and angel investors. PRCY believes in long term smart efficient investing, meaning each USD will be invested in the project for development or marketing purposes for the benefit of the community. The expansion of PRCY is key. PRCY willsell the minimum of PRCY coins to raise funding for this sole purpose, each quarter the PRCYteam reports about the expenses and the number of coins sold. Trust is key, our actions are transparent and verifiable.
Second I will tell something about PRCY as a project
Who we are as PRCY
PRCY Team feels very strongly about the community. PRCY is there for and with the community.Our goals are to deliver the project within the expectation of those who support the project. Privacy is what we are aiming on individual level, but also on Business level. PRCY has superiortechnology with the most advanced privacy features. PRCY is a fully anonymous staking coin and a payment system with a trustless governance structure. This is all based on the latest state of the art privacy technology (RingCT, RingSignatures, Stealth Addresses, Bulletproof and more). Although the PRCY chain is 100% private,it allows a wide variety of passive income, staking, masternodes and Proof of Audit (PoA).
PRCY does not offer partial anonymity like some other privacy coins, PRCY offers 100% absolute privacy without doubt, by means of offering the best of best privacy protocols which are successfully tested. PRCY offers PoA as the solution of trust which many other blockchain donot contain. PRCY does not rely on nodes or a group of administrators. The PRCY blockchain is a hybrid Proof of Stake (PoS) and PoA blocks. The PoS are minted every minute by staking nodes to verify the transactions in the blockchain. The PoA block are mined by PRCY miners (investors)with one task to audit the system if it is functioning according to the predetermined conditions.The PoA block will audit at least 59 PoS blocks for its correctness, each PoA auditor (miner) will be rewarded by auditing the blockchain system.
Thank you for your detailed answer.
You are welcome
May you please tell us a little bit about it’s utilities and real life use cases? What makes PRCY different from other cryptocurrencies ?
I will start with answering your last question.
Maybe you have seen it already, we have made a beautiful comparison, to show the differences between PRCY and all major privacy coins, to show the superiority of our technique.
We will share in a few days an overview you can share and have at one glance the immediate view of our added value compared with other major privacy coins.
I will give you some examples of usecases:
Let’s take this example, imagine you are running a business, and you have a tie-up with a large supplier like Bob . Bob can simply check your public address and see how many bitcoins you are holding if you are dealing in bitcoins. Knowing your reserves can demand higher prices and put you at a disadvantage in future negotiations.
Large companies tend to run “price discrimination” algorithms to study their customer’s spending habits and price their products accordingly. This can end up being very unfair to the customer. By using privacy coins, you can shield your spending habits and transaction details from these algorithms.
Imagine that you live under an authoritarian dictatorship like Zimbabwe or Venezuela where every single movement you make is carefully and meticulously documented. In this situation, it’s far more prudent and sensible to hide your holdings and spending habits from the government.
Let’s say that you own a business that’s regularly transacting with multiple individuals. One of these individuals happens to be a hacker who just hacked an exchange for a fair amount of bitcoins. Now, they are going to transact with you by sending over these hacked coins. Since the blockchain is public and transparent, if you agree to transact with this party, you may appear to be an accomplice yourself. Plus, these “tainted” coins will not be entertained by all the well-known exchanges if you ever require fiat liquidity.
These examples we provide are common ones, but we foresee we have the technology to easily to compete with the major privcy coins, all the usecases they already have we will have it soon too, like Monero and Dash
Thank you for your answer
How can we profit from PRCY ? Do you have Staking and Masternode? Which of them is more profitable?
You can stake, please download the wallet and turn on staking, for each stake you will receive 0.4 PRCY coin.
You can run a masternode, we have got a guide to help you out how to run a masternode and we have made a deal with Higlan.
Masternodes are rewarded according the See-saw allocation for their contribution to the network. The reward is 0.6 PRCY. The PRCY masternode can be compared with the PIVX masternode system. Due to the See-Saw Balance reward system a fair reward to masternodes holders can be allocated.
and you can make use of Proof of Audit (POA) I will explain a bit
The PRCY chain is verified by PoA, Masternodes and PoS, this makes the PRCY chain very resistant to malicious attacks and ensures the chain is completely secure. Your reward The PoA block are mined by PRCY miners (investors) with one task to audit the system if it is functioning according to the predetermined conditions. The PoA block will audit at least 59 PoS blocks for its correctness, each PoA auditor (miner) will be rewarded by auditing the blockchain system.
Besides above passive income possibilities we have the retention plan to reward the community when a goal has been reached
It is an enjoyable event. Thank you again for your answer. Let’s move on to our fourth question.
What is wPRCY / bPRCY and what was the reason to create a Token? On which exchanges will you list them?
Many popular crypto-exchanges are more and more focused to increase the accessibility to private blockchains by means of a new product in the form of Wrapped coins, a PRCY-backed token on Ethereum for example
PRCY develops the possibility to create a PRCY based token on Ethereum and being backed 1:1 by PRCY and secured by the exchange. Wrapped PRCY will be similar to other synthetic tokens like Wrapped Bitcoin or Wrapped Ethereum
Wrapped PRCY brings greater liquidity to the Ethereum and DeFi ecosystem. It gives holders of PRCY more flexibility to utilize their tokens without having to sell it for Ethereum or stable coins, in order to access the many exciting opportunities in the DeFi space. The crypto-based synthetic asset aims to provide users exposure to a variety of different assets without needing to hold the underlying asset
Our aim is to make use of multiple DEX solutions, like Pancakeswap, Sushiswap and Uniswap.
Thanks Mr Dion
What are your goals for 2021 and what are your achievements till now ?
We have a lot of plans to let PRCY grow. We displayed at the website all our plans for 2021.
Our achievements are also dissplayed on our website to keep track on our activity and to record our milestones we have reached, I will share the link
As told we will first develop the wrapped PRCY, and this will be finished soon and get it listed at many DEX echanges
Besides Wrapping we are busy with multiple wallets solutions, like a webwallet, a multicoin mobile wallet and our own native mobile wallet.
Next quarter we have planned to expand our marketing efforts, and start to provide incentives to the community for the efforts they do to bring value to PRCY. We will tentatively start with partnership discussions.
Thank you for your answer Mr. Dion.
I will ask our last question
What would you like to advise our readers about cryptocurrency?
Nice question 😊
Some wisdom from me because privacy becomes precious. Cryptocurrencies are part of the present and will be part of the future. Privacy is part of the past and deteriorating in the present, make sure it will be part of your future. We will bring a solution to you 🙂
Users who want to get information about issues such as staking, masternode, earning passive income can join the PRCY COIN Turkey group.
Thank you for your answers.
You are all welcome!
What is the important factor in Prcy’s coming here?
Can you tell us about this?
Yes, in fact it is the ultimate privacy solution, we did not do any compromise, we offer mandatory privacy, no entity, no government or hacker can see your transaction of balance, the ultimate privacy solution. We took the best of the best features of other privacy coins and all is combined in our solution, our blockchain
What precautions did you take? As you know, hacking events cause great damage to the image of the project.
Good question, we have used the proven, tested and audited technology of the best privacy coins, they have proven themselves already and we have combined it in a staking chain, including masternodes and our own audit the PRCY POA
Why did you choose for this very low circulating (less than 2 mil) supply? Did you get this idea from other projects?
Yes and no, we have thought very long about this topic, and run through a lot scenarios why a large quantity will be beneficial or not. But in the end we have seen smaller quantities, eg 21 million Bitcoin works very well. In the end a large supply does not determine the price, it is you you determine our value. A manageble supply fits us more to communicate with you as community, and non logic large supply it does not
@nobodywashere With ring sizing at what point does bigger not mean better?
Justin DaSilva (lyricidal / @theiexplorers)
In our case, we stick to randomly selecting the Ring Sizes for the fact that it makes things a lot less predictable. When you use the same one over and over again you are creating somewhat of a pattern. With the wallet software randomly selecting it for you, this eliminates the potential for that.
It is not necessarily the sizing, but using the same repetitively that “takes away some of the privacy.”
Hello, good evening. What kind of marketing activities does the project have? If Not Confidential, can you give a few examples?
First of all this AMA is our start, our marketing team is developing even more activities to expand our name, like organizing an airdrop or a trading competition, we will contact famous Youtube stars or Tiktok stars to promote us. We want to expand our name in exchanges too, hence why we develop the wrapped prcy and move to uniswap, pancakeswap, sushiswap. We will for example advertise on crypto websites like coingecko and cmc. We will develop our incentives plan for you to provide you with coins when you promote us or bring value, we have even more plans to let prcy grow our marketing team will take care of this
Hi @nobodywashere First of all thank you for your explanations. Could you give your opinion about Turkish market?
Hi, the Turkish market is in fact great and is at the start of a new evolution of growth, the popularity to protect your assets and value of your wealth is a very important driver of your growth.
Do you want use prcy as payment currency? How would you do that? Is there also a chance that you can do partnership with other coins which is or has already a payment machine like XPOS? @nobodywashere
PRCY is in fact a payment currency, and yes the likelihood we will work together with other projects to bring a product that serves us both well. In fact we already work togehter with other projects and share our knowledge of features and new developments to built bridges to reach even more audience
What awaits us in the future. Is there any other work or project that you call the most important for PRCY?
tough question, the future is unknown for us all, but our knowledge and all new developments that arise but we looked very closely by us. We aim to be a frontrunner of technology, we want to play in top league of privacy coins, this is challenging enough but we have the faith and means to reach that goal
Welcome. We are grateful and honored hosting you in here.
You know, world is changing.
Criptocoins had broke tons of records. Do you think world can handle this great change? What your opinion about traditionalist ones can embrace this new era. Thanks.
Crypto and privacy coins are in fact unstoppable, crypro will never leave anymore, crypto is at the start of adoption, Elon Musk and many other US companies already embrace crypto as an investment and be become a new invesmtent asset class. Crypto is at the start of adoption, even crypto has grown tremendous, the growth is small from a bigger picture. The crypto market is tiny compared to the traditional financial markets, crypto is here to stay, do not miss out