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Swap period ending

Posted by | 2015-06-21 | News | No Comments


Premine status: 4,688,000 (of 5,000,000) PIGGY still remaining.

MystPhysX requested an alternative reward instead of his bounty. This request was granted and so the premine remains unchanged.


The PiggyTeam is holding ~27,000,000 PIGGY in reserve for owners of PIG (Old PoW PiggyCoin) to claim. We call these the ‘unswapped coins’. If you are a PIG holder and wish to claim your share of these, sign a message in your PIG wallet (File / Sign Message…) using each address that contains any PIG. The message should say:

I, <social media name> on <bitcointalk, reddit, or whatever>, writing this on <date, 2015> wish to claim New PiggyCoin in exchange for these Old PiggyCoin. Please send the PIGGY to the address <Your New PiggyCoin address beginning with 'p'>. Thanks neurocis!

Send these messages and signatures (i.e. the text of each message AND each signature), carefully labelling the PIG address from which they came, to info@piggy-coin.com.

It has been over a year since New PiggyCoin’s beginning, so the swap opportunity has gone on for far longer than planned. While we are glad to have new PIGGY users from people who swap their PIG, going forwards we’d rather have neurocis concentrating on development.

For this and other reasons, the opportunity to swap coins will finish 3 weeks from now, on 12th July 2015.

Future use of the unclaimed unswapped coins

In related news, we PiggyTeam would like to claim those unswapped coins for future development, with the community’s permission.

I believe that most people want services around the coin — open-source web and mobile PiggyBanks, tipbots, teaching materials, tutorial videos, ongoing translations of everything… — so we need to pay people or set bounties to make those things happen. Perhaps when PiggyCoin’s bigger, those things would be more likely to happen without this kind of financial inducement, but for now, we need to bootstrap the coin by developing the services around it.

The PiggyCoin desktop piggybanks do have multisignature capabilities built-in, though they’re not user-friendly. So we could give multisig keys to some portion of these coins to community members, with the corresponding multisig keys in the PiggyTeam’s hands, so that we could not move them without community members’ permission. Then they should only release the next portion of the coins if the previous portion has been spent and accounted-for satisfactorily.

The alternative to this plan, is of course, to destroy the coins by sending them to an unrecoverable address (pTheresNoChanceWeHaveThePrivateKeyForThis…).

How can you, the PiggyCoin holder, indicate your preference? Well, you can tell us on Reddit or BitcoinTalk, or by PM, by e-mail, whatever. It doesn’t seem practical to vote on this using wallet signatures as some people have their piggycoins in multiple addresses, but you can do that if you want — Sign a message telling us your preference. (Of course, the views of big holders of PiggyCoin should have more weight, especially as it’s not practical to sell all those coins right now.)


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