Friday, October 2, 2015

PICISI Currency Rises To $5 from $1, Lots Of Projected Growth Expected [this is a feel good story]

Recently was asked to quote a sponsorship rate in the local currency of the sponsor.  

That was when it was noticed that the intended sponsor was also a Promotion Contractor who did work for months ago, after the currency was issued but before it was released -- he earned it but didn't receive it. 

At that time the currency was monetarily worthless, however it was expected that the currency would be worth $1.  On the day of distribution it sold at the predicted value.  Since then the currency experienced a spike to $5.  If you look at the volume isn't much to write home about but a sale is a sale. 

All of the numbers are small but the resulting impact is what made this blog entry worth writing about.   When the contractor initially did the assignment he was doing it more to support the project than anything else; he  earned 60 Pi for it.  Months after it was earned, on distribution day, it was worth $60  however he was one of two who didn't request a distribution of earnings so it remained banked.  
Two days ago, Pi went up to $5, resulting in his 60 Pi going from a value of $60 to a value of $300.  Here's the amusing part of the anecdote, sponsorship cost $100 for 6 mos, the additional ad package cost $200 but when paid with Pi instead of any other currency it triggers a discount, so instead of expecting to pay for sponsorship and more for advertising, the work he did months ago combined with market forces resulted in him being able to secure the full deal and have 2 Pi remaining. 

Moral of the story support those who you believe in, and find value in good ideas.

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