[ANN] [PSB] Pesobit - The Currency for International Remittances Transactions

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Introduction to Pesobit




The Pesobit can be transferred much faster than Bitcoin. You can transfer Pesobit within seconds to one minute, while for Bitcoin any simple or small transfer can take as much as an hour - Bitcoin is being mined using a high cost and wasteful algorithm, Pesobit uses PoS which incurs no waste in electricity.
Pesobit offers a faster and cheaper alternative which means that users will get the most out of their money. In addition, they are providing the use of Bitcoin are private companies that are in it for the benefit which is unlike Pesobit.
Pesobit has its inflation rate set to 5% per year, which means there will be some new coin that are regularly produced at a low rate of 5% per year. These new coins can even be produced or created by simply keeping your Pesobit in their virtual wallets. You can increase your Pesobits simply keeping your wallet connected, unlocked and online.
Pesobit is a coin created with many purposes in mind ...
Remittances, freelancing and electronic commerce, while at the same time retaining the normal features of all altcoins trading, and the international community can participate fully at all levels with Pesobit.
Pesobit is being created with the objective of maintaining a strong demand, this demand will be coming from the many services that will accept PSB as payment. Also a good trading volume and a low inflation will help maintaining this strong demand.



• Algorithm: Scrypt
• Last block POW: 10,000 (already mined)
• Total POW money offer: 32 millions
• 5% inflation
• 16 million distributed during the ICO period
• 800k for bonuses
• 200k Pre-ICO Support
• 3 million for bounties, aimed at long term development

Web Page


Wallet Pesobit

Online Wallet


Mac OS


Wallet Android


Wallet Stake Online

Online Wallet


Online Wallet Account


Market Pesobit







Block Explorer

Coin MarketCap



Plans Completed 

Block Explorer
Windows, Mac and Linux wallets
Online staking via poswallet
Own online staking platform
Mobile wallet

Pesobit to Philippine Peso conversion site
Pesobit Remittance website


Plans Pending 

Pesobit Freelance website
Online APIs
eCommerce shopping cart payment modules
Mobile wallet upgrade to integrate with Social Networking

Slack Channel (PM me your email address for invite)
Team Pesobit

Edited by pedrillo0

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As far as I know, getting listed on big exchanges is not our or the Devs decision; it is the exchange managers who decide to add Pesobit. Pesobit is listed on a small but still very good exchange, Cryptopia (


It is not Pesobit's Devs who decide the exchange where PSB gets listed; they must write requests to these exchanges, just like anybody can write these requests. We are very close to being listed in C-Cex, a medium size exchange with a big Russian clientele - please submit your free vote there (


It is up to us however to make some noise, show big trading volume, exactly as we are doing with PSB right now in Cryptopia, and the big exchanges will listen.



Things community (us) can do:


1) Keep posting comments in this PSB thread - it is still too short according to some big exchanges, as they look at how fast a thread grows as an indicator of the interest of a coin.


2) Buy some PSB in Cryptopia - show volume


3) Use free vote to vote for PSB in C-Cex


4) Write a request to list PSB in Poloniex - Do this just once per coin, per account.



6) Tweet often, using hashtags #pesobit with (either #bittrex OR #Poloniex) in your tweet. Tweet as many times as you can, at least once daily with new messages each time, no copy paste spamming


"#pesobit is growing, we want a bigger exchange like #bittrex to support Pesobit's growth" or tweets like that in general.


And that's about it. The PSB devs have done their part, now it's community's turn and we could see PSB listed in a large exchange very soon!!!

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Congratulations to Pesobit for bieng listed in the exchange C-Cex! This exchange site is very popular in Eastern Europe and this will give visibility to Pesobit in this part of the world that is very important to us.


Please remember that it is not our decision and not the decision of the Pesobit Devs to get listed on any exchange; it is the site managers who decide to add to Pesobit, or not. For this reason we need to make some noise to interest those managers.


  Pesobit is now listed on two medium sized exchange sites, yet still very good exchanges, Cryptopia and C-Cex.


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 Pesobit is making so much noise that we are listed on four major exchanges now, each with their specific market: we just got added in ( Yobit is one of the biggest crypto exchanges, at the 23rd position in CoinMarketCap (, ahead of other popular US-based exchanges like Bittrex. So right after getting accepted in C-Cex (, Cryptopia and Novaexchange, we are happy to announce Yobit.


We are happy that Pesobit is gaining all this crypto exchange exposure in such a short period of time, and we are doing our best so that PSB gets listed on Bittrex and Poloniex.  Trading is important of course, but rest assured our focus remains economical value and we are committed to bringing forward the promised projects that will materialize this actual value.

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Newly the stake of PSB is to reset!


The stake online is very practical for those who do not want to keep the application on the PC and handle all this:


I had a nice chat with the chief Dev of Pesobit, Lutzow, yesterday; there are many things coming down the pipeline for our Pesobit that will fulfill the main mission which is affordable remittances, along with establishing PSB as a currency with many online services. Lutzow has a vision for the future of PSB, unlike other coins who are just created by their Devs and then forgotten. Don't buy coins that have no game plan, in fact, sell them if you have any.


All I can advise you guys is to buy more Pesobit, and refuse to sell at today's low prices.


The Philippine remittance market is 29 billion$, yearly. To put that in perspective, just 1% of this market is still 290 million$!!! We will offer the Filipinas and Filipinos working outside the country an economical way to send back home their own money; if we allow them to save, you think they will not use PSB? The answer is yes.


If PSB becomes worth 290 millions $ this means every PSB is worth 14.50$, and that is just with 1% of the remittance market. PSB has many other things in queue that will help give it more value. This value is very real, when compared to what other much more expensive coins are offering, which is just smoke and mirrors in their case.


In crypto markets, 1 year is a very long time and I can assure you that these projects will be realised midterm, which is much sooner than 1 year. I recommend people buy more PSB, and do not accept prices under 10 000 satoshis when selling, for the time being. Soon, PSB may be worth a lot more than 10 000 satoshis.

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First day of the week, already moving forward regarding the steps on how we can attach Pesobit to the banking sector with Debit Card in tow. The debit card wouldn't be named Pesobit though as the card contains Philippine Peso value converted from your Pesobit, we can call it for now as There will be a feature in your called "Convert to Php". This will have 2 options, either to Peso wallet or this VMoney-powered If you selected peso wallet, you can withdraw funds as usual to different banks or other Financial Institutions. If you selected then you will also be able to withdraw to the banks or top-up your debit card (at least if you have one).



- Typical bank transfers for withdrawal orders will still follow the 1-day processing unless you will be using Security Bank cardless withdrawal.

- Once the site is already up, then you have to register, have your identities validated and order for a debit card which can be delivered to any parts of the country at least where couriers can go.

- and VMoney systems are secured and been used by a lot of consumers already while VMoney though may not sound so popular have provided solutions to some companies as well. 

- This will also be used for Marketplace and eCommerce API solutions as merchants will have to choose whether the Peso value of Pesobits received will go to their or account.

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The direct buying of Pesobit via the Online Wallet will probably be released within the next 24 hours, just a little more tests when it comes to the crediting of Pesobits, transactions listing etc but it's pretty much 90% complete. 


Why direct buying will be implemented? Since Pesobit was introduced mostly to the Filipinos, lots of users are first timers and dealing with exchanges is kinda off to some especially if this is the first time you got into the cryptocurrency field. It is easy though to get into crypto here in the Philippines because of but getting into the exchange and navigating to finally buy Pesobit is somewhat not newbie-friendly that's why there are lots of users who are dealing with peer-to-peer transactions just to bypass the exchanges which is prone to scamming and overpricing. 


The pesobits to be sold will be coming from the Development wallet which is 3rd in the rich list (!rich), and the proceeds will be used to create further support in the exchanges.


How will it work?

- The minimum order is 100 PSBs

- The amount that you have to pay will be based on the price in the wallet at the time your created the order as we know that the price is varying and btc transfer takes quite some time.

- You can only have 1 pending order to avoid abuse in to the pending orders as you can set orders and wait for the price to go up then you still end up buying cheap.

- The pending order will be cancelled if no payment has been received within the next 24 hours.

- It requires 2 confirmations for the status to be marked as paid and the Pesobits ordered be credited to your account.


Be careful though with transaction fees of other bitcoin wallets, most Filipinos though who are using doesn't have to worry about tx fees but others might. 


That's it for now :)

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Coinomi now includes Pesobit in their supported coins. The Online Wallet will be up later today as well as we're already done of codes and security measures. Your PSB addresses remains the same in the Online Wallet. Sending from Online Wallet to Coinomi is also working perfectly. Coinomi only supports Android for now but is working on iOS and Desktop application as well. 


Transferring funds via QR Code works as well. We just need to make some push for to accept Pesobit as well so you can do direct conversion of any coins to Pesobit direct from your wallet.


Please follow and retweet

Edited by pedrillo0

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As some of you guys already know, a verbal agreement has been established between a local bank and (Pesobit local registered company).

This bank will be included in one of the few options Pesobit Online Wallet users will be having in converting their Pesobit to Philippine Peso.


Drafted process:

For encashment (Pesobit -> Philippine Peso)

- Recipient must be a partner bank account holder

- Sender which is the account holder will click on the Convert to Peso button then enter the partner bank account number of the recipient

- It will make use of the current Philippine Peso conversion rate at the time of withdrawal so it will be fixed.

- The bank is a member of Bancnet so funds can be withdrawn in thousands of ATMs across the country.

- There will be 2 types of service (Basic and Express).

1) The Basic service will have the Philippine Peso credited on the next business day (cutoff times and crediting time will be established) to the recipient's bank account. Fee is P5 or $0.10.

2) The PAID service will have the Philippine Peso funds credited after 4 hours to the recipient's bank account even on weekends and holidays. (P25 Philippine pesos or $0.50)


For buying (Philippine Peso -> Pesobit)

- will be applying as a biller meaning you can pay thru online banking within Bancnet participating banks, via over-the-counter or via ATM.

- Each user will have a subscriber number. If you will be buying PSB, you need to pay the required amount payable to 

- For the system to recognize that a transfer came from you, a subscriber number is required (8 or 10-digit unique number assigned to each account) whether you use over-the-counter, online banking or ATM.

- The Pesobit team will receive your payments the next morning so your ordered Pesobits will be credited by noon time.


For Remittance purposes, it will be best if your families here will have the bank account under their name not yours especially if you will be sending big amounts because ATM service can only offer up to P20,000 daily withdrawal limit so if you will be sending larger than that amount, an over-the counter withdrawal is needed and can only be processed by the account holder. Based on current pricing, sending money from abroad going here to the Philippines using Pesobit will only cost you roughly P25 or $0.50 if same-day transfer is needed or even lower if you the recipient can wait til next day regardless of the amount to be transferred.


ETA: Since we're approaching a long weekend, business processings will probably resume late next week. Together with other business processes, such can be implemented around 1st of December.


Take note though that this is just one of several cash-out options that we're working on and the first option (VMoney-powered) is already in-process.


As for the direct-buying using BTC or Peso wallet from, it's been a busy past few days for me including tomorrow as I will also have another meeting but once I was able to get more time the development of such will resume.


Jimmy likes this

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It's the 1st work day here in the Philippines due to the long weekend brought by the All Saint's day. 

- Business paperworks between partnered companies resumed. 

- We got a 3.5k retweets for our twitter push, hoping that they will heed the public's call and thanks to all those who retweeted.

- The number of direct Buy orders from the Online Wallet now totaled to 0.95 BTC, which were also being used to buy the low sell orders to prevent sudden price decrease.

- Total number of staking coins is now at 7.296 Million Pesobits.

Pesobit Commemorative Coin hopefully will arrive within the next couple of weeks as there's a need for a minor revision to smoothen out rugged edges in the design.

- And, I'll be on a scheduled Family vacation starting Friday and I'll be out-of-town until early next week but will check things out from time to time still.



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The application for business merchant of has been established. 

This means we can now offer a service in the Online wallet that allows a user to convert their Pesobit to Philippine Peso cash out using options. It will follow next business day crediting though just like

I will check the withdrawal options, what banks can you send the funds to etc. 

As for the transaction fee, it will be lesser than the BTC<->Peso conversion fee percentage of

It could be that there will be an option for funds to be sent directly to your wallet as Philippine Peso so you can withdraw it on your own but there could also be an option for direct bank withdrawal at least for those whose accounts are limited but we could put up some limits to conform with the KYC policies.


ETA: Soon as I still have to check all the options and functionalities that can be put in place.


However, this doesn't mean that our only mode of cashout is via Vmoney announced our partnership with them few days ago so it is also being handled. Direct bank connection is also being worked on.


Why have all these cash-out options?

All of them have their own fees, advantages and policies. There will be some users who will prefer due to their btc wallet connection and numerous cash-out options, some might prefer the direct bank connection as funds that are being converted are already withdrawable via the ATM and some might prefer VMoney solution due to their reloadable Debit Card, tap-to-pay solution for merchants etc.


Wallet withdrawal has been changed as well, all sending of Pesobit will be initially sent to Pending status. Then every 15 minutes, there's a scheduled task that will run to check all the Pending orders and mark them completed or invalid as there are some who happen to have a mistake in entering PSB address (entered BTC address instead) and others.



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A QT5 version of Pesobit wallet has been created and you can get it from 

The old Pesobit wallet will still work so installing this isn't a must but rather an optional one. This new wallet package is bigger in file size as it is dependent to some files and Visual C++ package so if it doesn't work well you might need to install this one ( No need to remove the old wallet as well just make sure that the old wallet application is close before you open this. It will also use the old wallet.dat file and Pesobit folder in the Roaming section but backing up the old files is still a very safe way to do this.


What's new?

QT5 wallets are more dynamic and can add several features and the one that got released includes the block explorer within the wallet itself and has links to both C-Cex and Cryptopia exchange. 


Other developments in the Desktop wallets will follow and will be announced once ready.



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