Round Table 06.07.2019

PIRL ROUNDTABLE MEETING SUMMARY

Date: July 6, 2019

Participants:

  • The People

Meeting Agenda:

  • Complete transparency

  • The idea of the round table meetings is direct communication with the Pirl community.

Summary:

masterdubs:

Welcomes everyone, asks the community for questions.

In the future we will start to tweet and inform the community about our roundtable meetings more in advance. We will also push the tweets to other forms of media like Blockolio, Beaxy and so on. This way everybody can follow what we’re doing.

Also, I don’t know what the community thinks but maybe we should change the roundtable name to AMA? aka Ask Me Anything.

6:04 masterdubs:

The status of the new website is we’re currently working on the UX/UI it will be much bigger with a graphic chart. We will be working on the branding. We now have a new designer on the team. He’s not on the discord. We also have a freelancer to code the website.

8:00 masterdubs:

We’re still working on PirlChat. We hope that it will be out of beta soon. I’m also working on PirlEx/PirlPay so you will be able to make an easy exchange from fiat to Pirl. There is coding to be done, as well as a lot of background paper work. The biggest task right now is the fiat gateway.

We’re also testing some stuff. It’s a little bit private now. You will see our hash rate is still decreasing. So, we’re researching what we will call “Pirl 2.0”… so yeah, that’s what we’re testing. We’re making some documentation on this. You don’t see it in the dev channel but we’re making some docs to explain everything. Once the docs are ready then we will push it out. We don’t have a lot of small miners in the chain. So, these big mining farms, mine Pirl then they just dump it. It is effectively keeping the price down. I have spoken with another guy from flux coin and they have the same problem. In the exchange you will see it frequently small amounts that are being dumped.

11:00 Phatblinkie:

I’m not going to spill the beans here but there could be some additional chains forming that could tie into this chain. With specific purposes to build more featureful abilities to get around some of the current problems that we have had.

Part of the thing about the website is that it’s hard to navigate it’s hard to find any info. We recognize this. It’s hard to find any information it’s even harder for us to sell anything. So, when dubs was talking about the branding, it will be much more simple, much more visual. When you look at a branch of Pirl you will find all the information you need. Right now, it’s all mixed in with a bunch of other stuff.

12:30 masterdubs:

The PirlEx liquidity we will work with the exchanges. All the exchanges have an API, we have a ton of liquidity available. I will provide some liquidity as well. You will not be able to buy 100 000 coins in one click. That would require more verification. The first part we will enable is the possibility to buy Pirl then after we will enable the ability to sell and cash out. It will be a step by step. We will make a beta. The beta will have “play money”. That way we can check the security and we can check everything is working.

14:00 masterdubs:

I would like to address Twitter and the scheduling of a certain number of tweets. If you just post random news or things that people don’t want to see. People will just unfollow you. This is a problem. It’s good to be available everywhere. We have tried posting lots of the same tweets. This didn’t work for us. You might raise engagement, but you lose followers, so we need to focus on providing quality content.

If people retweet and like, then that helps spread the word.

16:40 masterdubs:

The storage masternode won’t be out for a while. Maybe the end of the year. We must focus on what we have already. so we’re not working on it now. PirlPay is taking up a lot of time. We’re a small team with no ICO. We’re a very small company.

17:40 masterdubs:

As for PirlChat we will enable tipping option as well as group chat. The thing is you need a lot of transactions. We pushed PirlChat out as an MVP- Minimum Viable Product. To see if we got interest from people. We got interest from people. Our problem is that you can’t make a people happy with 15 or 20 transactions per second. We must be real. It will not work very well. We will have a delay of 10 to 20 seconds. So, this may not be useful or user friendly. This is why we’re working on a side chain and protocols to make it way better. PirlChat will be released as version 1.0 then version 2.0 will be released, with a lot more functionality.

19:00 Phatblinkie:

I will summarize:

PirlChats functionality is extremely inhibited because of the block times we have and the actual number of transactions we can fit into a block.

Version 1.0 will be released soon with a couple upgrades. But there is a Version 2.0 that’s on the horizon. It will increase transactions per second and decrease block times. In order to be able to grow the application to a more scalable size. Right now, it’s usable. It has some bugs, but to be truthful it needs a different back end to make it grow. Otherwise it won’t be very impressive and will not get used if it doesn’t get used it wont help drive the ecosystem.

20:00 masterdubs:

We hope for the next roundtable we will have a better plan something on paper for you guys to see.

20:42 masterdubs:

A mobile wallet is in the works, you can see it in the dev diary. The new desktop wallet is PirlApp.

PirlEx is not part of PirlApp. It should be released sometime this summer.

21:00 Phatblinkie:

Some people are having sync issues with the nautilus wallet. Part of the problem with nautilus is when it closes out the node, sometimes it doesn’t close it out correctly. It basically closes it without giving it time to clean up. So, if you have a computer with a lot of connections and a bunch of open files for databases. Then you suddenly un-task from that program, you’re left with a bunch of errors inside it. So, when you go to start nautilus the next time, you might get an error saying the block was incorrectly closed or has corrupted headers. It needs to roll back to the part it thinks is good. Here is the problem with that: the Nautilus wallet has a time that it waits to connect to the locally ran node. The node starts then it pauses it goes back in time then it has to go find peers then it starts asking for the sync to happen that’s when it talks to the GUI, and that whole time all this is happening it often times out. Then it pops up that lovely error that everybody gets. Therefore it will often start on the second, third, or fourth try. It’s just a matter of timing.

The Nautilus wallet was based of Mist. Mist is no longer under active development. It has been abandoned by its developers. We’re not going to take it over. So, nautilus won’t be updated except for the binary for the node on the back end. The people who made Mist forked their project into a different one called MyCrypto. Mycrypto has a desktop GUI it supports ledger and all the other nice things. It’s the future of the mist wallet. It supports Pirl and ETH. It’s usable you can go to mycrypto.com and you can have all the features of Nautilus on that. It’s still under active support where it will get patches and stuff like that. Until other wallets come out like PirlApp or the new mobile wallet this is a viable alternative. There isn’t much we can do about the Nautilus wallet, the project itself is gone.

24:45 masterdubs:

In terms of Pirl being a dead project and what can be done about it? I think that the problem is people are looking at the value of the exchanges. Pirl has had some poor luck in the past few months. Pirl lost its biggest exchange, due to a hack. We’re now on stex which we need to work on creating visibility on that. We have the Pirl community that can help by tweeting or making articles. This is very important, and this is all community involvement, as this is a community coin.

27:00 masterdubs:

In terms of what’s being done to increase the amount of hash rate for Pirl. We will outline it in the docs. The problem is miners for the most part only mine where the profit is. If you want to test this, go to Stex, make a purchase for Pirl and you will see in only 20 -30 min that the sell orders will increase, and the volume will increase. So yes, miners and hash rate are important but this will not solve the problem.

28:00 Phatblinkie:

There is a lot of complexity to this. Let’s say you have 100 exchanges. One of them finds you can buy Pirl at cheap and sell it higher on another one. They will sell it higher, driving down the price. There isn’t a buy on the exchange that will bring the price up, but there is a buy there that drives the price down.

This is like what happens with mining. The miners mine but they mine to make a profit. The only way they make profit is to sell. You can buy, but if your buying to sell, that means your buy low and selling higher that also brings the price down. Also, who’s going to bring in new miners and spend their money mining electricity and their price is under constant suppression? The only way to bring the price up is outside of mining because mining only takes the price out. It’s the transfer of wealth from people who buy into the project to invest in the project which then gets distributed to people who sell the tokens they mined or that they bought at a discount.

There is a huge amount of pressure on any coin that has mining, they need to figure out ways to pump it up, to bring interest in. Miners don’t just come to mine they come to sell the coin. Mine, make money and get out. This is the basic cycle of a miner, it’s kind of a black hole scenario. Bringing up the hash would be nice, but it’s very difficult to figure out how to do that. As soon as the hash comes in it gets knocked back down.

32:00 wracle:

Another thing that Phatblinkie didn’t mention is the location and what kind of gear you’re mining with. If you’re using some of the latest miners, you can get 485mh out of 750 watts. Not very many people can compete with some of the electrical pricing that’s around the world. In China, Norway and Iceland for example. They are paying 1\2 c a kw. And these kinds of people run huge farms and they dump everything they mine. They can dump for 2 cents because they make a profit well the rest of us hurt. There is a big difference.

This has been a cycle for all eth hash coins.

34:00 phatblinkie

There are side chains being developed to help assist with this issue.

34:00 masterdubs:

We will explain everything about this very soon. Personally, I like dpos and the way you can sell your service to the blockchain. Mining is great. I was a miner and now I mine during the winter. Because I need heat. But I don’t mine to make a profit.

I think we must evolve, and upgrade the chain, this helps meet the requirements that everybody wants.

35:00 phatblinkie:

This is a great point. Initially, miners were the security of the chain. They were validating the transactions. We have miners. We have more masternodes than we do miners. Masternodes also validate the chain. That being said POW to slow down the rate of blocks and or distribute the rewards. Is something that doesn’t necessarily have to happen if you have nodes that continually secure the chain.

35:45 masterdubs:

Right now, we have a chain where we can analyze both the mining and the staking. Mining has been dropping, but staking seems to be holding.

35:00 Phatblinkie:

First, we had mining. Then mining and selling. Then a bunch of investing. The floodgates opened when the masternodes came out. Everybody wanted them and needed them. Now were to the point where masternodes are barely profitable to have. So as a coin we need to grow and change to keep interest.

37:00 masterdubs:

We’re to the point where we need to upgrade the chain. So, we’re working on this. It’s being tested now and we will package it all under a good document and we will drop it. S that we can get the point out to everybody.

38:00 Phatblinkie:

This is not just a Pirl exclusive problem. A lot of ethas coins are having the same problem. We’re not a hype coin. We never wanted to sell “hopeium” We always wanted to be real.

39:00 masterdubs:

Integrity is very important to us.

40:00 Phatblinkie

Rant about a back in time coin and its lifecycle. This is how you do it, you make up a crazy idea that is not technically possible with flipping bits inside of a processor. Then you sell it to the people who will buy in. But the people who buy in knowing that you can’t go back in time. Instead what they want is to buy low and sell high Then you get out of the market and take their money and go screw up another coin. Basic coin lifecycle.

40:20 masterdubs:

Buy low sell high. That’s what a lot of people do. Of course, we all want profits, but this isn’t possible.

As far as exchanges go. We’re waiting for Beaxy. For an exchange like Bitrex it costs 10 k euro to have a review for Malta, then another 10 k euro for a review from Bitrex. This is a lot of money. There are other exchanges we would like to be on but we want to focus on PirlEx. We need adoption and easy entry for people to buy the coin. If you want to trade it you can just go to Stex. More exchanges won’t make it easier for adoption as new users still have to go to Coinbase then to an exchange. This isn’t good for adoption in my point of view.

43:30 Phatblinkie:

When you have a fork that takes place. Unless every single node forks with you. You end up with these small chains left over. If they form peer relationships with others that don’t update, they basically run their own version of the chain. It’s sometimes possible to sync with those instead of the main chain. This is just a side effect of how ethash works.

45:00 masterdubs:

PirlTube is also lacking now because of our limitations. For PirlTube to be useful you will have to upload your video and not actually compute your video yourself. This is a problem but this will be solved with a new infrastructure. PirlTube may become more private because we have some problems with Law 13 from Europe. Lots of content will be banned and I don’t want to battle against lawyers now. We will not push PirlTube for right now.

The priority right now is to upgrade the Chain and do the steps needed to get Pirl where it should be and we want to get PirlChat out.

47:00 masterdubs:

We have a new UI/UX person on the team. He’s not on discord but he will be working for Pirl part time and we’re pleased to have him join the team.

49:00 masterdubs:

I will go over what we have accomplished this month.

Numnah has made the monthly overview which will be put out on Monday. PirlChat has a one pager so we can present the product. Each product will have its own web page. We will present the product with a small video so you can see everything. The team is working on PirlEx and PirlPay. We’re back on what to mine because they listed Stex as well cryptobadger. Wracle has made the main video for the project. Translations are in the works please get in contact with us. New website is in the works. On the Poseidon side we fixed some bugs and so on. We’re working on the mobile wallet. Dptelecom is working on Jackbot. Jackbot will help the people with common questions when we’re not around.

55:00 masterdubs:

Thanks to the community. See you next month.

I will be moving to Mauritius next month so the round table might be off a little bit.

over and out, Numnah


Author:

@numnah

Contributor(s):

@Dptelecom