An Open Letter From Wolong: Pandacoin

    First and foremost I would like to thank Jackson Palmer of Dogecoin who proved that it was not too late to join the market caps of Bitcoin and Litecoin. He has made an extremely generous tipping community and has given me the privilege of profiting from it and even thanked me for making Dogecoin what it is today. Next, I wish to thank my supporters for their trust and having faith in me. To the haters, thank you for your protest and activity which helped me gain free publicity.


    Who is Wolong?

    I am he whom moved DogeCoin up from 26 Satoshis live on Freenode #dogecoin IRC. On top of that, I called a peak of 280, the first bottom of 160, then the second bottom of 130, given correct predictions on both hitting above 200, and also a trading cap range of around 230 after the first official day of Chinese New Year Holiday week. I created not only a powerful currency but, most importantly, a stable one.


    What’s Next? Pandacoin.

    Pandacoin is developed to be a revolutionary new coin to combat the one problem all other coins face, Market Manipulation. When market manipulation exists in a currency the economy suffers and the adopters that want to save on transaction fees and create a movement to combat big banks suffer. Most alternative coin adopters want cryptocurrencies to beat fiat however, too many of them are just to be pump and dumps. Even legitimate coins are still being controlled by manipulation because this problem has not been properly identified and resolved from their inception.

    Take for example, a hand gun. A gun can be used to commit a crime, or it can be used to defend and protect members of an army or police force. My role previously with Dogecoin was to act for the benefit of my backers, it was my responsibility to turn a profit. I did my part to warn others and have also given lectures to benefit the uninformed. People hate me as a market manipulator but this is to be expected in order for someone to win someone has to lose. There was nothing I could do at that time as I had investors to please, however, if proper measurements were implemented in the first place market manipulation could been stopped or at least suppressed. This is why I am going to premine Pandacoin to gain a certain percentage of the share, enabling me personally to prevent early pumps given my knowledge of the market. I have thought this through and have the vision and power to correct this problem that other coins faced. This will be the first time anything like this has been attempted in the altcoin world and, given the success I anticipate, will not be last.


    Unobtanium (UNO) and Gaining Your Trust

    The unobtanium's developers were the ones personally helping me out in the development of Pandacoin. I’m quite new to the cryptocurrency development scene, but what I personally saw surprised me. Devotion and passion poured into their work, their wallet, and the site is by far the most impressive one I have came across.  Before development even began, I forewarned them that 3% will be premined for stability, and if any of the developers attempt to premine or foul play before the launch, I will not endorse Pandacoin.

    The purpose of me having an IPO is to give value to the coin and let people know that others actually trust the coin. In cryptocurrencies, money is basically being created out of thin air, much like fiat today there's no backing. It is our belief that Pandacoin will be backed by something, the community and investors that truly believe in the coins success. Pandacoin will be NOTHING if its considered a pump and dump scheme so for this reason a certain percentage is being paid or rather backed by people who have faith in this coin. They will be given 50% of the coins they requested, while the remaining 50% will be held by me, unable to be traded for 6 months. This delayed release will ensure price stability

    Governments are worried that cryptocurrencies damage the financial system, that being unregulated hurts people who are uneducated in trading. My main purpose in cryptocurrencies is to establish trust as that is what brings real value. There may be steps, procedures in the future which we might implement to prevent money laundering, drugs or terrorist trade in order to let government know that as a cryptocurrency we play our part. By using cryptocurrency such as pandacoin as a form of barter trade since it is trusted and valued, there will be actual real world use for it like paying for services online, a trade between users, exchanging Pandacoins for merchandise, there will be supply and demand from all sorts of trades.

    The remaining coins that I will be holding will be used to prevent early dumps from those seeking nothing but profit. So now you may be asking "Why should I be so confident in this coin I've never heard of?" one word, Transparency. My wallet will be totally public and transparent on the blockchain. I can even setup alerts in any form if there is even just a slight change to my wallet balance. So if I were to trade my wallet funds on an exchange, attempting to dump, or cap prices, people will be aware and notified of this immediately before anything happens. By setting an alert up such as twitter, this will give users peace of mind and help them understand what I’m doing, why I’m doing it and the true intentions behind it.

    A portion of the premined funds will go to services to help build the Pandacoin community, such as games, prizes, and developers. I'm hoping through these online services such as casinos and dice games you will use Pandacoins that you mine as a form of fun. You will learn that with trial and error that casinos can never be beaten and you can only ever win out of luck. So it’s a fun lesson for people to learn, and provides liquidity and volume for Pandacoins at the same time.


    About the Pandacoin Logo

    The 8 Chinese characters on coin is derived from a Chinese philosopher known as Guanzi
    http://zh.wikipedia.org/wiki/%E5%9B%9B%E7%BB%B4%E5%85%AB%E5%BE%B7 (Chinese wiki)
    and
    http://en.wikipedia.org/wiki/Guanzi_%28text%29 (English wiki)

    忠孝仁爱 礼义廉耻 (Loyalty, Filial Piety, Humanity, Love, Courtesy, Righteousness, Integrity, Sense of Shame)

    What good is a coin if it doesn’t help humanity for the better? Hence, you can see our 8 important virtues are engraved on the coin, so people will be constantly reminded of them.