What is P3C?
P3C is building ubiquitous income streams for the future. The P3C payment network incorporates technological leaps made possible through blockchain advancements to provide income, access, and status for a distributed community.
Our smart-contracts and software modules are flexible to be used on almost any project. We offer these products for free to developers and entrepreneurs to substantially decrease development needs and speed entry to willing markets.
The P3C solution associates our payment network with a new global currency, (ETC) Ethereum Classic, and distributes ETC to the community on every transaction. It's like a rewards program with higher incentives for every stakeholder.
Q: What are the core rules of P3C?
- You buy into the contract by purchasing P3C, every token purchased increases the P3C price by +0.00000001 ETC.
- 10% of what you spend to buy the P3C gets distributed proportionally to all other P3C holders.
- When you sell your P3C, you get back ETC at the current price, and the global price per P3C goes down by -0.00000001 ETC.
- 10% of what you would get back for the sale is distributed to all other P3C holders proportionally.
Can I access P3C from a mobile phone?
Yes! You can install Trust Wallet on iOS or on Android and enter your same seed words from Saturn to have full access to your Saturn account. You can send, receive, and buy P3C with ease.
Can the owners edit the program now that it's running?
This software is entirely powered by a smart contract. A smart contract, once deployed, is immutable which means that the code cannot be changed by the owners at all. If the developers were to stop working on the project, the code would still function.
What exactly is reinvesting?
Re-investing means that you are choosing to take all your ETC earnings (dividends) and exchange them all for additional P3C tokens. During re-investment, the 10% community fee is incurred as with all transactions. In this way, reinvesting your tokens increases your holdings, thereby increasing future earnings. Think "compound interest".
What is the balance I see for my holdings in the wallet?
Yes, for full transparency, the balance on the holdings page already accounts for the 10% sell tax. Meaning that you can withdraw whatever amount is listed there in full on the sell tokens page.
Why is P3C on Ethereum Classic?
Because we believe this game has the potential to grow to many players all over the world, we wanted to launch it on a chain that we know is immutable. Ethereum Classic is that blockchain. At some point in the future, people could be entrusting their savings to P3C, and we want to make sure that trust is deserved.
What is the RainMaker?
RainMaker is a smart contract, virtual "player", that holds P3C tokens and will always use any dividends it earns to reinvest in the contract further to provide more dividends to users. It has no ability to sell, transfer, or get rid of its tokens. In a sense it's the HODLr of last resort of the P3C economy. It currently has over 13,000+ P3C, but this will grow as more boom/bust cycles occur, and the RainMaker continually reinvests.
Keep in mind that the RainMaker is completely separate than the P3C smart contract. It is simply a custodian of coins that were created when the game was originally launched and is a completely voluntary element of the P3C ecosystem. It can be called on the P3C page by clicking "Distribute Community Fund".
Is P3C a scam?
- A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme - Wikipedia
- A Ponzi scheme is a form of fraud in which a purported businessman lures investors and pays profits to earlier investors using funds obtained from newer investors. - Wikipedia
Remember: In a Ponzi, users only get paid when new users enter. In P3C, users get paid based on token volatility. This can be users entering or leaving.
Pyramid and Ponzi schemes fail because they require new users to recruit other users. Constant user growth is absolutely not necessary to sustain P3C, in fact P3C can work between a group of 10 people as a mutual support organization. Users put in funds when times are good, receive dividends, and then when times are bad, or they need to retire, or break their leg, they can liquidate their position, paying a community fee to do so. This is actually closer to decentralized insurance. There is no need to recruit more members for its survival. It is provable smart-contract based accounting, and can't be taken modified because it's on ETC.
All attempts in the past have failed because they had a centralized point of failure, a bookkeeper that could make a mistake, or attempt to defraud users. Because we use an entirely open-source contract, and a RainMaker contract as a buyer of last resort, we avoid this central point of failure. The core of this project, like Bitcoin, could survive without any Dev team maintaining it.
Why should I join P3C?
- You hold cryptocurrencies and want to earn passive income.
- You believe and support one of our community projects.
- You want to promote the utility and importance of ETC.
- To create products and services faster.
- To utilize an incentivized community to support your projects.
What are the risks in buying in? What will you do with the data I provide?
There are inherent risks! You can lose all of your money through mistakes. Our contracts are verified secure but, like all crypto, if you lose your private key, the funds are lost so please be extra careful. There are no training wheels as of yet.
We will never sell or trade the limited identifying data we collect.
Obtaining P3C tokens
How do I interact?
1. Disable Metamask. 2. Get [Saturn](https://saturn.network/saturn-wallet) (Desktop) or [Trust](https://trustwalletapp.com/) (Phone) 2a. Switch to ETC network 3. Acquire ETC (Ethereum Classic) via Coinbase or your favourite exchange. 4. Send acquired ETC to your Saturn or Trust wallet address. 5. Put ETC in the P3C contract to begin collecting divs. Make sure you keep your seedwords safe! Saturn wallet and Metamask cannot run at the same time.
See here for help
What do I receive for buying in?
When you buy P3C, you receive a masternode and your wallet begins to earn dividends in the form of ETC on every P3C transaction.
What's a masternode?
Every P3C token holder has a unique masternode. Masternodes are links to propagate because when P3C tokens are bought through the link, you earn 1/3 of the dividends directly.
What advantages does the P3C payment network offer?
- We choose immutability. Every transaction validated and entered into the ETC blockchain.
- We're less expensive. By cutting out the financial middle-people, we can charge much less for processing payments.
- We value community. Every P3C payment transaction provides dividends for us all.
- Simple and seamless. Our core software modules and services are user-friendly and remove barriers to adoption.
- Ridiculously secure. P3C smart-contracts provide a suite of verification tools to prevent fraud and other dastardly actions.
- No ID required. This is a project meant to serve those who either can't have an ID, or value their privacy. Bank the unbanked.
Why will P3C succeed where others haven’t?
P3C succeeds because we're of and for the P3C community. Our slow and steady approach is devoid of undue hype and we calculate current value in real-time. The founders have no power over any other P3C hodler, which means the system is fully egalitarian. We have one simple goal, provide 1% or $1 back to the community on every transaction.
What can I do with my P3C tokens?
At the moment, you can trade P3C to other ETC wallets. When the payment gateway is ready, that power will expand to include all financial products necessary for modern commerce.
When will I be able to use my P3C tokens?
Are my P3C token transactions private? Can anyone see them?
Transactions are public but contain non-identifiable data. this is a beauty of blockchain accounting -- full accountability without leaking private information.
P3C will succeed as a mainstream payment network, which means maximum compliance with all applicable laws and regulations.
How much is one P3C token worth in USD? What is your calculation of the P3C token value based on?
P3C token value is determined by an algorithm. Whenever a token is bought, the price increments up. As a token is sold, the price ticks down. Most simulations demonstrate the price of P3C tokens over time continually appreciates. Furthermore, we've launched tools like the Rainmaker to lock ETC forever, making sure there is always value in the contract even if each human pulls out.
When was P3C launched?
The original P3C contract was launched on Jul 1, 2018 3:38 PM in ETC Block 6102115.
How many P3C tokens are there? Who holds them?
The maximum amount of P3C that could be minted is 204 million, in theory. P3C tokens are minted when ETC is put into the main smart-contract. There is no authority or central influence that holds or otherwise maintains any economic control. You can always see how much P3C is an existence on the wallet page.
Now that this concept is out, what prevents a hundred new P3C-like networks from popping up?
Nothing. We're counting on it. We aren't in the game to crush competition. We're here to help bring prosperity to the world and look forward to working with everyone who shares the vision.
P3C tokens and Crypto
How is this different from Bitcoin and cryptocurrency?
At it's core, P3C is a dividend-bearing utility token. We're being a bit clever allowing it to be traded on our payment gateway for higher-efficiencies and convenience but ETC is the actual cryptocurrency. Bitcoin, another cryptocurrency could be used but lacks sufficient smart-contractability and suffers much higher transaction costs with longer transaction time. No bueno.
Is this an ICO?
Nyet. An ICO, Initial Coin Offering, is a money-raising structure in the cryptocurrency world similar to a traditional IPO. If anything, we're a reverse ICO. P3C’s goal is to become a better standard in payments and to create a global economic ecosystem. We're building value the old-fashioned way -- one product and service at a time, then sharing the profits with the entire P3C community. There are no guarantees with P3C, only aligned incentives.