Monthly Archives: April 2016

The Dood Interviews CoExistCoin

The Dood was lucky enough to snag an interview with the dev of CoExistCoin. As always, nothing in this post or in this blog is meant as financial advise. Interview provided as information and current events on what’s happening in the world of cryptocurrency. In the spirit of full disclosure “The Dood” does hold a small amount of CoExistCoin, and will probably hold more in the future.

CoExistCoin Logo

CoExistCoin, a crypto with a cause!

Hi, and thanks for taking the time for this interview. could you tell the readers a little about who you are and your relationship to CoExistCoin?

Thank you for the exposure. I do enjoy reading your work. I am a big fan of the Dood on twitter and do read bitcoindood.com

My name is Phil Lima. I currently reside on Long Island, NY. I first became interested in bitcoin sometime in 2011. I heard something about it on Joe Rogan experience podcast. He was interviewing the Chief security officer of blockchain.com at that time. May have been Andreas Antonopoulos. I was fascinated right away. Bitcoin was worth around $32 USD at that time. I remember because I bought 2 bitcoin via western union. Lol So crazy. Then about 3 years ago, the bug bit me again. This time it was Dark Coin. We now know it as DASH . That was the first Alt that got me deep into Alts. So much innovation compared to bitcoin. Faster transactions. Anonymity. Setting up master nodes. X11 algo which CoExistCoin is. I just loved it.

I am the Dev of CoExistCoin. Last June I and 2 others joined together with the concept. In the very beginning CoxEistCoin created to be able to build a community center. We had the source code created. Had a soft launch to test and make sure wallet and blockchain was working. About 3 months after, September it became clear that my 2 partners was not in this project to help. They wanted to make a quick buck. They being discouraged that I did not want to scam people out of money , they left the project. Me feeling overwhelmed closed down the project to maybe regroup or just never return to it again. I had nodes paid for until February. I kept a wallet running, staking COXST. I even solo mined it while I still had our first Nomp pool hooked up. Then came February. I got an email saying that the nodes rental was to expire. I had a choice to make. Do I reorganize and go with my new idea for CoExistCoin? Or do I just let it go to the crypto grave? I decided to go ahead. Hey I had wallets. Working blockchain. Just needed exposure. Here we are 3 months later and I’m doing an interview with bitcoindood. CoExistCoin is on 2 exchanges. Everyday we get more and more eyes on what we are doing. Pretty awesome ride so far.

According to the Bitcointalk Ann, CoExistCoin is a decentralized digital donation currency. I absolutely love that idea and the blockchain seems like the perfect fit for charitable groups. Could you explain a little bit about how you think the blockchain and CoExistCoin can benefit charitable organizations?

As we all know, blockchain technology and smart contracts are very popular in fintech right now. Every day we are seeing banks, corporations, even the government researching blockchain tech and cryptocurrency as a whole. Knowing that we can keep track of funds through a block explorer, watch wallet holdings and transactions I thought this would be perfect to keep charitable organizations in check. CoExistCoin with the faster transactions, smaller network required compared to bitcoin is ideal. I am in early talks with some blockchain experts to re create a user friendly block explorer so that anyone can track the money they donated and feel at ease that it went to those who desperately need help.

I became disgusted a few years back when a devastating storm wrecked a lot of southern Long Island. People were without homes, food and basic needs. Not being able to physically help with shelter and food I decided to donate money. I gave money to Red Cross thinking this is great. I come later to find out that only 10 to 15 % of my donated money was going to actual people in need. The other portion of my money was going to run Red Cross. I do understand that people work full time in charity organizations. I understand that they get a salary. There is overhead to get raw materials. But 85 to 90% to run this? I’m disgusted. I believe Red Cross and other organizations are abusing donated money.No need for private planes and staying at luxurious resorts. If people are able to see exactly where their donations are going, they would choose more wisely.

Outside of its active community how many people are involved in the dev process and technical aspects of the coin?

As I stated earlier I had 2 partners when we first created this. It’s not in my nature to want to scam anyone. Especially with a project that is saying we want to help the less fortunate. I have one programmer that I go to when I need things but that’s about it. I am actively seeking to team up with group of devs like cryptocoderz. This is the first I mention them; they are fresh on my mind because I just was researching what they are about.

I do want to give a shout out to stein and cointron on my forum boards. Those two are who I lean on to shoot off ideas and just keep an eye on whats going on. Without them, CoExistCoin would not be where it is right now.

I see that the CoExistCoin community is currently supporting water4.org which provides potable drinking water in places where clean water isn’t easy to come by. The Bitcointalk Ann mentions something about sponsoring a water well, and also help for people with PTSD. These are all great causes, how are donations collected / distributed, and how can everyone get more involved?

Yes. I am passionate about water4.org especially fight for the forgotten which is a part of water4.org. Former ufc fighter Justin Wren was in between fights when he went to the Congo. When he saw how people are living, dying because of the lack of 1 simple thing. Clean water. Justin quit UFC and made it his life work to help the less fortunate. His story is so moving that I have been a monthly donor for 6 months now. I recently updated our mission/ goal for donating to charity. Every month we will be splitting donations between these charities.

Fight for the forgotten. They work toward providing clean water to those that are in desperate need of it Water4.org Even though they run fight for the forgotten, water4.org goes and teaches communities how to build and maintain their own water sources

Coexist.org I named this coexistcoin because originally thought we was going to develop community centers. Coexist.org help break the cycle of conflict by creating opportunities for people to work and learn together. That is a beautiful thing.

As a side project we will have a water tower banner on coexistcoin.com . It will represent a certain place where a water tower or well is in desperate need. As people donate toward it and allocated funds from collecting donations go toward it, water will fill up representing the money amount donated. When it fills up we will sponsor and go help build said well or tower.

I’m jumping a little ahead. Either December 16 or January 2017 we will spin off a charity organization. Then we will address a ptsd fund. Lastly anyone can get involved by just donating on our site. All collected funds will get converted to CoExistCoin so that it is recorded on our network. Another way to support our project is buying CoExistCoin. Creating a demand drives up our market cap giving us more value. The higher the value the more power the CoExistCoin fund has.

From reading the website, one of the goals of the project seems to be ending charity abuse. For example, a charity might collect $100,000 USD and give $10,000 to the charity while keeping the other $90,000 for themselves. How much of the donation is currently going to the charity and how much is kept by CoExistCoin? Are there ways for people to track their donations and how they’re being used?

Currently since CoExistCoin project is not a charity organization, 100% of all donations that we collect goes to charity. We have almost no over head. We do not need the funds. The people we are collecting for do. 100% to charity. At the moment when someone donates btc or money, that amount gets converted to CoExistCoin mid month when we dole out funds to charity. That way it is all recorded on our network.

One reason why I am looking to join a team of devs is to build a user friendly block explorer that also works within a site sort of like an exchange. It would be able to have thousands of wallet address’s. This would help people keep track of their individual donation and keep it separated until its used. This “exchange” would exchange CoExistCoin directly to organizations preferred method of payment.

Are there any future charities or causes you would like to see the CoExistCoin community rally behind?

Yes all of them! I know this is not possible. It is a great goal. To help all that needs it. When we get our product rolling I am hoping that every charity organization will adopt CoExistCoin as a method of collecting and keeping honest book keeping of donated funds.

I also read on your ANN page that you have filed an application with New York state as a non profit, and you have plans on creating a brick and mortar space? What are your plans for the space and how will it be used? Is this strictly for developers, or are you planning community outreach, and a activist space for people to get more involved?

One thing that I am planning is spinning off a charity organization. CoExistCoin itself cannot be this. 1 we are trading on exchanges. 2 we are aiming to be a service. When we spin off to a charity organization, that organization will employ CoExistCoin service for collecting and keeping ledger of donations. Another thing that will happen is said organization will get control of CoExistCoin fund wallet.

Brick and mortor space was part of old plans to have community centers. Yes one day maybe 5 years in the future we can start a community center working close with coexist.org

If you’re filing for non profit status in New York state, I’m assuming CoExistCoin is located somewhere in New York state. Being a New York company, do you care to comment on the New York state BitLicense? Also from a legal standpoint, how does the BitLicense affect non profits and charitable groups using cryptocurrency?

Bitcoin license in NY was put in place because Wall Street couldn’t take people making money trading and they are not part of it. That’s a reason why Wall Street classified bitcoin as commodity. Government is all in on this because they now collect capital gains tax which between fed and NY is almost 30%. Of course this is my personal view. I do have a dear friend that WAS on the market floor trading. He had a heart attack on the train one day coming home after a stressful day of trading. He was 35 that day. He retired after that. This is our assumption of what happened.

One question I cannot answer is how BitLicense affects charity groups. They are tax exempt. This is something I will hire a lawyer for when we assemble our charity organization.

Your coin is currently traded on yobit, and also recently added to c-cex. At the time of this writing I believe the coin is trading between 115 and 150 satoshi which is a little below ICO price. Nice time to jump in I guess for anyone who might want to get involved. Are there any other places people can get CoExistCoin. Are you in talks with any other exchanges or services that you care to mention?

I had a ICO to collect 3 bitcoin to finish off something’s that was needed before launch on exchanges. ICO price was 250 sats. A few things factor into low price right now. One bitcoin is going up. Traders get out of alts and into bitcoin. With the price of bitcoin going up, almost all alts go down to adjust to bitcoins price. Another issue is there are miners just selling off into buy orders. Mostly everyone that owns CoExistCoin is holding on for future strength. CoExistCoin is lucky to have believers and a great community that recognizes that this project has legs and a future. To all those reading. Price is right to invest. Lol shameless shill.

We was accepted to join coinomi. I am working on getting it on their platform. Just ran into a minor technical difficulty. The plan was to be there as late as tomorrow. It maybe a week late now. I also am writing weekly to shapeshift and other webwallet apps and sites to ask to add us.

As we grow volume I will pester Bittrex and polo until they add us. Having real world use and not just being “the next bitcoin” should make us unique and intriguing to those two exchanges.

Final thoughts? Anything you would like to tell the readers about the coin or wallet that hasn’t been answered in the previous questions?

We are planning an update to the wallet. Anyone downloading our wallet will see our original logo. That needs updating. POW rules will change. Have surprise blocks and other payout rules to keep people mining. POW stays throughout duration of coin. POS rules may change. When we add build our blockchain explorer and charity fund exchange site, that will be added to the wallet.

I aim to be honest and transparent with this. All questions will always be answered. After I discuss ramifications and other things with my wife I will verify my identity and add my personal social usernames for all to follow and see who I am and who they are investing with. All I want to do is help and hopefully leave a better world behind when I pass on to the never. In my personal life I run amusement entertainment centers. I have a side business of refurbing old arcade games. I am a tinkerer and working on a perpetual motion power generators. What better way to help those that need water with free electricity too.

I ask all my interviews the same last question. Where do you see cryptocurrency going in the future? Any thoughts, visions, or predictions you might want to share about the future of cryptocurrency in general?

I think we are nearing the end of the wild wild west of cryptocurrency. It is getting harder to have 100s of 100s of cryptocurrencies trading and there is nothing behind many currency. We are seeing devs teaming up and having a purpose behind a currency project. We are seeing week by week banks, financial institutions, corporations and even governments investing money and time into blockchain tech research. This to me is exiting. It just gives me hope that we are on the right track to being successful.

I thank you bitcoindood for giving me this time to ramble on about my project. I am very passionate about this and passionate about helping people in need.

Thank you for this interview. This is a great project, with great ideas and certainly deserving of a voice. “The Dood” wishes you the best of luck with CoExistCoin and all your future endeavors!

Website – http://coexistcoin.com/
Block explorer – http://cryptoguru.tk/CurrencyInfo/index.php?Currency=COXST
Faucets – http://cryptoguru.tk/CurrencyInfo/index.php?Currency=COXST
http://altcoinix.com/coexist-faucet/
Mining pool – www.suchpool.pw/coxst
Exchanges – https://c-cex.com/?p=coxst-btc
https://yobit.net/en/trade/COXST/BTC
Coin market cap – http://coinmarketcap.com/currencies/coexistcoin/

The Dood certainly finds this project interesting. I love the concept of a blockchain based charity coin or a “decentralized digital donation currency” and the idea of keeping track of where a charities funds are spent via blockchain tech. Nothing in this interview or this blog should be taken as financial advise and is not meant to be. In the spirit of full disclosure, The Dood does hold a small amount of CoExistCoin and is planning on purchasing more in the future.

Coinwallet.co Is Closing.

Shortly after writing my review about Coinwallet.co the company suffered a data breach and although they didn’t suffer any losses decided it might be best to close the service. They’ve asked anyone with coins in their wallets to remove them as soon as possible. The site will close its doors May 1st of 2016 . Here’s a screenshot and a link to the message.

If anyone is interested in taking over the project you can contact them at
support@coinwallet.co

coinwallet co is closing

Coinwallet co closing notice found on their website.

Interesting Links Of The Day!

I thought I’d share a couple links related to the economy. A friend of mine on tsu wrote an interesting piece on what’s happening to the economy, and some op-ed on where we’re heading. http://www.dethronethebanksters.com/2016-the-year-it-all-comes-unhinged/

Then to further put things in perspective, you might want to check out the U.S. National Debt Clock. Staring at this for a few minutes can definitely put things in perspective for you. http://www.usdebtclock.org/

I can’t help but wonder, how this would effect bitcoin and other cryptocurrency. If our money becomes worthless, will cryptocurrency, and hedging with silver and gold save the day? In the greater scheme of things, I certainly don’t think it would hurt.