Frequently Asked Questions
What is pocitcoin?
The POCIT token is a digital asset created on the bitshares blockchain. Pocitcoin offers guaranteed utility and value within the ecosystem of pocits.com's city networks. Each token is equal to a fixed quantity of marketing products, circulation, and time which are priced in pocitcoin. Therefore, the token’s value is the goods that it redeems irrespective of the price for those goods in all other currencies. The total number of tokens in circulation is equal to the total amount of goods available at pocits.com. Pocitcoin is a commodity token possessing a block of goods that can be redeemed, traded, sold, or gifted.
(Note: Pocits also accepts cash (fiat) and other cryptocurrencies at their market exchange rate to pocitcoin. See pocitcoin.org for more details.)
What is the benefit of pocitcoin?
Pocitcoin provides token holders with ability to secure, redeem, or exchange a fixed measure of goods; Pocits
suite of marketing products. That's guaranteed value with constant buying power irrespective of the rising and fluctuating price of those goods in all other currencies.
What's the value of pocitcoin?
The token's value is in the goods it intrinsically secures; a fixed amount of marketing products available at pocits.com. Thus, pocitcoin is a commodity whose price is determined by its free-market exchange between token holders. Therefore, the growing demand by advertisers for the business-consumer dynamics of pocits.com equates to the market price demand for pocitcoin. (See
What is the Pocit Index?)
What are pocitcoin grants?
The initial distribution of pocitcoin extends to local initiatives posted as projects in the public Commons at pocits.com. Sponsored projects are granted pocitcoin in self-directed bitshares accounts to assist in funding project development. Additionally, profits from Pocits' regional networks remain local and granted to the local projects.
What’s the difference between pocit token and pocitcoin?
The term pocit is used to reference the token as an object and as a unit of one. Pocitcoin references the token as a currency in much the same way as ‘the dollar’ and ‘dollars’. The token is denominated with five decimal places as ♓1.00000 with the minimum value of ♓0.00001 or 1 pocitcoin. The symbol (♓) for pocitcoin is a non-trademarked wingding font character for the letter i.
What is the function of pocitcoin?
The primary function of pocit token is its free-market exchange as a commodity. Each token is equal to a fixed about of Pocits.com's marketing and advertising goods that can be bought and sold. (See What is the Pocit Index?)
What is the purpose of pocitcoin?
The token is designed to
capture and broadly
distribute the rising success of the Pocits network for the benefit of all members. Although pocitcoin primarily facilitates commercial and non-commercial advertisers, in the ecosystem of pocits.com high tides raise all ships.
What products can pocitcoin redeem?
The suite consists of ten
marketing products in three classes; directories (4), promotions (3) and advertising (3). As pocitcoin is a commodity, each token is a claim against a fixed measure of these goods.
What is the Pocits Project?
Pocits Project is a collaboration of people, organizations and companies participating as members in the development and implementation of the Pocits network, the index and token. The project is directed by Pocits Inc, the founding corporation, and is funded via pocitcoin.
(Pocits Inc divested its corporate ownership of the Pocits Network which operates as a
decentralized autonomous organization and managed by the network's collective members and delegates. This trade sale of the company's intellectual property and assets was transacted and settled via payment of 2% of the total token supply.)
How are members compensated?
Project members participating in various development capacities are compensated via payment in pocitcoin. The Pocit token is a tradeable commodity which can be exchanged directly with any other party within the Pocits network or sold publicly on the *DEX (bitshares exchange). In addition, members can exchange pocitcoin for cash directly from the team's *cash pool as per the project's internal pocitcoin valuation (currently $20 CDN).
DEX option is pending the network's public sign-up event
*cash pool option is pending the project's development funding campaign via pre-launch discounted ad sales (token sales).
How do I become a member?
A person or corporation who has either been invited or has requested to participate in the development of Pocits Project must apply for membership at pocits.org, accept the terms of agreement, and be approved by a representative of Pocits Inc, the corporate director of the Pocits Project.
Team opportunities are posted to pocits.org and may be posted on employment sites elsewhere.
How do members get paid?
Project development members are paid in pocitcoin via direct deposit to their pocits.com member account (bitshares crpyto wallet) in accordance with their contract's compensation agreement. Compensation can vary from:
scheduled automated payments for ongoing development
lup sum payments for goods or services rendered
How is the project funded?
Ongoing development by project members is funded via pocitcoin. Eight percent (800 million) of the total supply of Pocit tokens (10 billion) is assigned to the Pocits Project for its global development budget. As pocits.com's advertising products are a tradeable commodity entirely vested in pocitcoin, the project possesses a large block to finance its endevours. The issuance of the project's tokens is fundamental to the broader distribution of pocitcoin.
Who is the project director?
The project director is Pocits Inc, a Canadian corporation founded in May of 2009 to research and develop pocits, a multipurpose information transmedia concept to simplify online networking and communications between people, organizations and corporations. The company is responsible for the development of the Pocits network, token distribution and implementation of the index. (See Who owns What?)
Who owns what?
Pocits Project is not a corporate entity having a corporate seat. The project is a collaboration of people and corporations who have agreed to participate in ith development of the
Pocits network as directed by the founder
The Pocits network also has no corporate seat and operates as a decentralized autonomous organization managed by its members and delegates. Pocits Inc has divested its ownership of pocits.com through a trade sale of the company's intellectual property and assets to the project. This transaction was settled in pocitcoin via payment of 200,000,000 tokens from the project's development budget.
Furthermore, Pocits Inc has invested 100 million of these first-earned tokens back into the Pocits Project. It is these tokens which, when disbursed to project members, kickstart the cascading distribution of pocitcoin from the project's 800 million pool and the network's 9 billion tokens as detailed in the
In addition, the larger part of the company's remaining token holdings are subject to a vested schedule and are not part of the current circulating supply of pocitcoin. Apart from its directorship of the project, Pocits Inc and its shareholders participate in the network in the same way as any member.
What is the PDX?
The PDX, short for Pocit Index, is an advertising index which measures change in the relative value between the marketing products of Pocits.com vs the products of leading competitors.
The PDX serves as a price discovery mechanism to provide advertisers, merchants, and all token holders with comparative value-price metrics that minimize speculation and volatility in the free-market exchange price of pocitcoin. The index goes up when Pocits products gain in comparative value. The index is designed, maintained, and published by Pocits Inc, the corporate director of the Pocits project, with the name "Pocit Index" as the registered trademark.
What is its purpose?
The Pocit index provides business sector advertisers with value comparision metrics to minimize speculation and volatility in the price of Pocits products via the free-market exchange of pocitcoin. The PDX serves as a price discovery mechanism for Pocits.com’s suite of marketing products which are free-market determined via the buy-sell exchange price of pocitcoin.
What is the product basket?
The product basket consists of ten marketing products in three classes:
Directories (DIR) - Book, Mall, News, Town
Promotions (PRM) - Coupons, Flyers, Vouchers
Advertising (ADV) - Posters, Billboards, Walls
What is the formulation?
The PDX formula factors the values of three elements that make up the product basket; goods (GDS), circulation (C) for population, and time (T) for days. The values for Pocits goods (POCITGDS) and competitors goods (CMPGDS) are both derived from a similarly weighted geometric mean for the three product classes. In-turn, the value for each class is factored from the weighted values of its products with an additional factoring of a subset of weighted values pertaining to the market share of the competitor platform or medium being sampled.
PDX = POCITGDS × CMPGDS × C × T
GDS = DIRWT x PRMWT x ADVWT
What is the PDX's starting point?
The PDX starting point is set at the 100 mark and measures the relative change in values between pocits product basket and that of its compettitors. As Pocits.com’s marketing platform is not active with no free market price yet determined, its products can only rise in value against its competitors. Therefore, the the index will quickly rise at the outset along with the rise in the token's initial exchange price until a point of relative equilibrium against competitors is achieved as will be determined by free market demand for pocits products via the buy-sell exchange of pocitcoin.
What is the Pocits network?
Pocits.com is a world of online city networks where people, organizations and companies can connect more than just socially with contacts but also publicly with the residents of their town and beyond too. A place where users possess full ownership, control, and responsibility over your identity, content, and communications; no data mining.
The Pocits network simplifies our personal or corporate digital lives with transmedia solutions that consolidate multitudes of single purpose apps and web services. The network's suite of marketing & advertising products feature innovative business and consumer dynamics and user controlled ad utilities. In addition, the Pocits platform provides content providers such as news outlets, bloggers and vloggers, with ad-revenue streams.
How do advertisers foster local enterprise in their communities?
Did you know that you generate about a $1 a day in advertising. Take a quick look around you right now and check out just how many promotional signs and publications there are in view. All those paid for branded logos on your equipment, furniture and clothes too. Advertising is ever present everywhere and constantly competing for your attention.
But just how much is YOUR attention worth?
Given all that can be known about you, your age, sex, status, wealth, clicks and searches, your friends and contacts, etc., the specific value of an individual's consumer eyeballs is really impossible to equate. As a consumer, we’re simply not the same to all advertisers. It depends on the business and the product offered, such as a hair salon or grocery store vs an auto dealership or realtor.
But what we do know about your ad worth is the big picture and how much advertisers pay in the aggregate.
In North America alone, the business sector spends $130 billion per year to reach prospects like you through digital apps and websites. When divided by the total population (366 million) their ad cost per person is about $355 (US) per year. So advertisers spend nearly a dollar a day to get YOUR attention.
That means a city with a population of 100,000 people generates over $35 million in advertising each year (*AIB 2019). Now that’s a lot of money! YOU, and the people of YOUR town, are local resource of digital activity that generates continuous ad revenue every day, year after year.
So, if your town’s local business sector is simply trying to connect with the local residents, why does the majority of their marketing budgets end up outside of your town’s borders? Over 50% goes to Google and Facebook alone!!
Pocits is a new way to connect with your city and best of all, 100% of its regional advertising profits stay in your town through grants to local projects! What new
enterprises will the people of your town create?
What about data mining?
The network's suite of marketing & advertising products feature innovative business and consumer dynamics with user-controlled advertising utilities free of predatory data mining algorithms. In addition, the Pocits platform provides content providers such as news outlets, bloggers and vloggers with ad-revenue generation ability.
What are private vs public networks?
Home and Office networks are the private places of people and corporations. It's their place to engage with contacts and follow their interests. Geo-networks like a Town, a City or a County are public places where residents and visitors connect and share in the Commons.
What is the commons?
The Commons business and community center has four interactive media hubs; Book, Topics, Mall, and Town. Post and share, browse and discover, or search and find. Content is curated and readily accessible. Engage with the people, organizations and companies in your town and beyond.
What are Pocits marketing and advertising products?
Directories, Promotions, and Advertising are the three classes of Pocits' products to market your business content and community activities. Marketing apps are free to activate on your corporate and professional profile and feature to visitors with upgrade fees for circulation to the Homes and Offices of users and to the City where residents can search and find or browse and discover them in the public Commons.
How much does Pocits marketing and advertising cost?
The price of Pocits marketing and advertising products is fixed when purchased with pocitcoin. A token is a block of Pocits marketing and advertising. Pocitcoin will redeem a specific measure of products always whereas the price for those same products in cash or other cryto currencies will fluctuate. The product price is determined by the free-market exchange price of pocitcoin between the token holders.
Therefore, pocitcoin offers guaranteed
value irrespective of the price at which you acquire it! The rise in the cash price of pocits products, thus the token price, is ultimately driven by business sector demand for Pocits suite of products and the network's business-consumer dynamics.
What does the Pocits name mean?
Pocits is an acronym for
personal, organizational, corporate
information, transmedia systems. The pocket logo symbolizes individuality, privacy and control.
PERSONAL ORGANIZATIONAL CORPORATE
Network and interact casually, professionally or corporately with your private contacts only such as friends, associates, clients, and staff or engage publicly within the Commons of each Place. Each identity type possesses distinct user functionality and responsibility.
INFORMATION TRANSMEDIA SYSTEMS
Share privately or publicly in a variety of direct and aggregated forms for your casual, community or business objectives with the ability to curate and retrieve content. Your data and communications are your property and responsibility.
Seamlessly navigate throughout each of the Commons four media hubs to browse or feature your personal or corporate big picture story to a variety of audiences. Search and find, or discover and follow others. Each media hub is distinct having both commercial or non-commercial applications.
Pocits is a series of regional networks where members can connect privately with contacts or publicly as residents within their city and beyond. Pocits geo-networks are autonomous with a multitude of ways for people, organizations, and companies to participate in policy and governance.