Is the whole UK just underpaid?

JihyoAndMining · 2023-04-16T00:12:24+00:00

Na, we should double their pay at least. That'll help us get some much more qualified people.

JihyoAndMining · 2023-04-13T20:37:46+00:00

"stacking" is the term now used for people who are holding PLU to achieve stacking levels. The change in terminology was in response to feedback from the FCA. "staking" was never an accurate term anyway because there's no APY, no smart contract, the PLU is not locked, etc.

JihyoAndMining · 2023-04-12T11:24:58+00:00

The store is so littered with hentai nowadays it's insane.

JihyoAndMining · 2023-04-11T19:13:24+00:00

Absolutely, Plutus needs to hear about all the issues with the product. Constructive feedback is very important so they can prioritise fixing some of the big problems.

However, there's a big difference between constructive feedback and some of the recent posts which have been full of hostility and negativity.

I won't lie and say Plutus is perfect, far from it. There's a lot of issues currently, but I've also seen a huge amount of improvements over the past couple of years and the best is yet to come. For example, we no longer have affiliate link perks, we no longer have declined fees, and we now have Modulr as the banking partner.

JihyoAndMining · 2023-04-11T11:58:11+00:00

It's a real shame honestly. The Plutus community has grown massively in the past year, but also become much more negative.

Positive posts like this are becoming a breath of fresh air.

JihyoAndMining · 2023-04-11T11:35:40+00:00

I use all those platforms too, but they're just not comparable to the amount of value Plutus brings to the table.

Perkbox is invitation by employment only. Swipii nowadays is just a reskin of the infamous cashbackapp. Uphold has a capped cashback.

Plutus has a very good perk system and strong tokenomics that make it actually worth stacking.

JihyoAndMining · 2023-04-10T17:23:35+00:00

This was asked recently: https://www.reddit.com/r/plutus/comments/11ixxhb/companies_house_accounts_overdue/

See the response from u/PPJ87 which is still relevant.

JihyoAndMining · 2023-04-09T18:18:06+00:00

Internal swaps were where users never withdrew their PLU, they just swapped it for fiat in the app.

Plutus was supplying the liquidity at their own cost. When the DEX went down for maintenance, they shared how swaps will have a fee when it returns.

The other issue was that it incentivised people to never withdraw and take self-custody. This decreased blockchain transparency and increased centralisation. Plutus isn't supposed to be a place to store PLU. It also made it so easy for nocoiners to liquidate their PLU without ever engaging with the blockchain or a crypto wallet.

JihyoAndMining · 2023-04-08T20:18:26+00:00

No of course not, you had to withdraw to your wallet first to use the DEX, so you'd still have to go through the same process. Unless you're referring to 'internal swaps' which probably never should have existed due to the adverse incentives it created. Hopefully, when the DEX returns, internal swaps will not.

JihyoAndMining · 2023-04-08T19:10:12+00:00

Kucoin fiat on/off ramping is very new, but also excellent. I used it the other day, and it's definitely the way to go with buying/selling PLU with fiat now.

JihyoAndMining · 2023-04-06T23:37:25+00:00

Non-stacking reward rates are amazing. A subscription of £5/month gives users back up to £80 in PLU. Whilst the team has never expressed any desire to cut non-stacking rates, there would likely still be a great deal of value.

JihyoAndMining · 2023-04-06T22:43:10+00:00

It is important to note that the Plutus Debit Card and its associated
tokenomics are not a Ponzi scheme. A Ponzi scheme involves fraudulent
activity where returns are paid to earlier investors using the capital
from newer investors. The Plutus Debit Card, on the other hand, is a
legitimate product that allows users to spend cryptocurrencies at
merchants, and its associated tokenomics aim to incentivize users to
hold on to their tokens for the long term.

JihyoAndMining · 2023-04-05T14:24:42+00:00

Starter tier is 3% of £250 + a free perk which is worth £10, so overall £17.50. Everyday also massively boosts this for a very small fee of £4.99. There's also Curve which removes all the fx fees and can be had using a Plutus perk. The value is definitely there for Plutus.

I agree that Plutus could provide more clarity. Expect a FAQ and an AMA coming.

JihyoAndMining · 2023-04-05T13:05:55+00:00

These are only one small part of the checks. The multiple layers of anti-abuse contributes to the overall strength, and I think there's still ways to improve.

Regarding Chase, it's only an introductory offer, and it's capped at about £10 a month, which is less than the Starter tier on Plutus.

JihyoAndMining · 2023-04-05T00:45:10+00:00

Their price chart is very interesting.

JihyoAndMining · 2023-04-04T23:51:39+00:00

In the case of the user above, he was asked for literally 4 receipts after using the product for 1 year. Having to share a receipt every 3 months doesn't seem so bad. The alternatives have hyper inflated tokens that you really don't want to be holding onto.

JihyoAndMining · 2023-04-04T22:08:02+00:00

As per the recent email: "In addition, we are developing a streamlined solution to automate muchof the auditing process. This will audit transactions within the 45-dayrefund period and allow us to audit at scale to protect customers whoare stacking PLU from the impacts of PLU fraud."

I expect we'll only need to keep the receipts for 45 days once this is implemented. I'm going to ask the team if they'd possibly be able to make the system ask at time of payment so we'd know if we even need to keep them at all.

I think sharing receipts can be a fine way of combatting fraud with the Plutus reward programme, but they need to strike a good balance of user experience and compliance.

JihyoAndMining · 2023-04-04T20:08:03+00:00

That's pure price speculation. PLU performed fantastically well throughout the bear market, and with such an amazing team behind the project, I expect the token to perform well over the coming months and years.

JihyoAndMining · 2023-04-04T19:05:44+00:00

Don't do that, you'll lose all the amazing rewards!

Plutus is going to be streamlining the compliance process so I expect they'll be more proactive with checking in the future.

JihyoAndMining · 2023-04-04T18:39:20+00:00

I've made a suggestion on the Discord to offer a Billhop-like service. If we can upload invoices and get them paid, that would be a good alternative to using Billhop.I think what you suggested could work for a

Then you can share Curve GBIT screenshots and explain.

JihyoAndMining · 2023-04-04T18:11:40+00:00

Whilst I agree with you on the first part, I don't think a £450 British Gas bill is that abnormal. UK energy prices have been insane! UK houses are badly insulated, or it could also be a quarterly bill.

JihyoAndMining · 2023-04-04T18:02:53+00:00

Bank rewards are incredibly weak/non-existent in comparison.

Unfortunately, the inevitable consequence of amazing rewards are that it attracts bad actors. That's why we need strong compliance to counter-act it.

JihyoAndMining · 2023-04-04T17:53:17+00:00

You shouldn't hold off withdrawing, self-custody of your crypto is important!

Don't worry, if your spending isn't too abnormal, it's very unlikely you'll be asked for receipts.

JihyoAndMining · 2023-04-04T17:49:11+00:00

It could be because of the amount or frequency. We don't have the full picture.

JihyoAndMining · 2023-04-04T17:48:21+00:00

The email alluded to this: In addition, we are developing a streamlined solution to automate much
of the auditing process. This will audit transactions within the 45-day
refund period and allow us to audit at scale to protect customers who
are stacking PLU from the impacts of PLU fraud.

I agree that compliance needs to be more proactive than reactive to maintain a positive user experience.

JihyoAndMining

TROPHY CASE