Tuesday, May 15, 2018

My EMoney, How will coins work within empowr (part 2)

How will coins work within empowr (part 2):



Go to your “My balance” seen on top of your profile page and click on it. Scroll down the pop up window and locate “Transfer out” at the bottom of the window >> http://prntscr.com/i9y5yr Click “Transfer out” and follow the instructions. I repeat the transfer out feature is not LIVE yet but it can become active any day soon now.

Are there any other features like you really enjoy about this platform or any ideas you have to make our community even better?

Let me know if you have any questions and I look forward to hearing more of your thoughts soon!

Hitting your daily goal is what pops up the mission wheel.
Do you know how to hit your daily goal?

Best regards,
Adeniran



Hello everyone!

As you know, March 2018 is when the empowr Coin will be live on the blockchain.

March is only a few weeks away, and empowr engineering is working fast and furiously on completing our move to the empowr Coin.

Tomorrow, they will be launching the next items on the list.

As a reminder, going forward there will be two (2) things you can earn:  empowr Coins and pre-coins.

·         Pre-coins are what you earn from posting (blogs, status updates, videos and photos), and from success coaching.
·         Coins are what you’ll earn from all marketplace sales
·         The mission wheel will convert pre-Coins to Coins
·         For coaches, 30% of their coaching pre-Coins are converted to Coins



Beginning tomorrow, you’ll start earning Coins from ALL your marketplace sales

You keep 85% of the final price that the buyer pays.
So, if you want to receive, say, $10 for something, you price it at $11.77 for the buyer.
What will you be able to do with your Coins?

When the Coin is officially live on the blockchain in March, you’ll be able to:

·         Use Coins to buy anything for sale in empowr – including everything in the marketplace, mission roles, advertising – everything – even if your Coins are not fully matured
o    Starting tomorrow you’ll be able to shop with your Coins in the marketplace

·         Take your fully matured Coins outside of empowr (to use as you wish, such as to exchange them with other currencies)

·         Maturation can be reduced to as little as 0-days.  Details 



Everything will continue to be shown in dollars ($) until we know the final price of Coins (when the Coin auction ends).

How will your balance be converted to Coins? 

When the Coin auction ends, there will be a one-time event where your balance is converted to Coin based on the final price of the Coin.
For example, if the Coin gets valued at $1 at the end of the auction, you will receive 1 Coin for every $1 in balance that you have. 
Once the Coin is on the blockchain, the price of the Coin will be based on the real-time market value of the Coin.
As a thank you for your dedication and support during this transition, regardless of how you earned your Coins, you will receive 50% extra Coins when your balance is converted to empowr Coins. That means, for every $1 in Coins you have, you’ll receive an extra $0.50 in Coins.

So how do we prepare for this Coin conversion event now? 
Tomorrow, your balance will be consolidated into 2 sections (Coins and pre-coins): 
How will coins work within empowr (part 2)

  • All matured cash outs, pending cash outs, and any fully matured empowr reserves you have will be moved to your fully matured Coins balance to ensure they receive the 50% free Coins
  • Any empowr reserves you have that have not yet fully matured will be moved to your currently maturing Coins balance. They also receive a 50% free Coin bonus.
How will coins work within empowr (part 2)
  • Any inactivated early cash outs you have will be moved to your pre-coin balance
    • Early cash outs is an old feature that has not been used in several years, so you likely don’t have anything in this balance. For those of you that have any inactivated early cash outs that you wish to activate, please do so within the next 24 hours before they are moved to your pre-coin balance
  • All other prior empowr earnings and “available to spend in the marketplace” earnings will be converted to pre-Coins.  


Summary:
·         Starting tomorrow, all purchases in the marketplace will be made with Coins or PayPal.
·         Sellers will now be able to use 100% of their earnings from their sales to shop in empowr starting tomorrow
·         Sellers will be able to take 100% of their earnings from sales to the blockchain (when the empowr cryptocurrency Coin is officially live in March 2018)
o   That should cause prices for products and services to fall, because (unlike before) sellers will be now – finally -- able to spend or use their Coin earnings as they wish
·         All matured cash outs, reserves and pending cash outs will be moved to your Coin balance
·         Any old earnings will be moved to your pre-Coin balance
·         Awards provided by the mission wheel will include Coins and pre-Coins

There’s more
In addition to all of the above changes, tomorrow we are rolling out updates to:
·          to make it easier for you, and your invitees, to earn mission points
·          community pledge and results visibility
·          the new mission performance goals

I’ll announce those items in another post, in order to keep this post focused on the above.
Any questions? We’re here to help!  

Your President,
Brian
Contents of this blog
http://blogs.empowr.com/p?qr459-how-will-coins-work-within-empowr-part-2




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