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EMPOWR HOUR YOUTUBE - LIVE STREAM - EPISODE 050

STARTING AT: 8:30am PDT (3:30pm UTC) 

 

 

Tune in this Friday, June 7th, 2019 | 8:30am PDT (

Hello everyone,

As you know, one of our key objectives as we work towards our beta launch is to improve and simplify the platform so that it’s easier for the mass market to use.

Towards that objective, over the next week we’re simplifying the platform in the following ways:

·         Making trading easier so that trading volume can increase (with the new trading tool)

·

 

 

Hello everyone!

As we work towards our beta launch, we’ve been hyper-focused on the following objectives since the beginning of the year:

A.      Overhauling our infrastructure to handle increased traffic from the launch

B.      Experimenting with different marketing approaches

C.      Simplifying the platform, launching missing features and fixing bugs

I’m happy to announce that we’ve been making great strides on each of those objectives.

Our infrastructure upgrade is now complete, we’re very close to having solidified our marketing process (more on that in another post soon), and finally this week we will be launching the first of many features/improvements that we’ve been working on to simplify the platform and improve it’s usability for the masses.

Today, let’s discuss some of those features; specifically:

1)      The launch of the trading tool

2)      New coin launch

3)      Updates to post earnings

4)      Updates to Power User subscriptions

5)      Power User subscriptions are now free for active citizens

6)      The removal of pre-coins

 

The launch of the trading tool

We’ve been working on making trading coins much easier, by building a new trading tool:

 

New product features launching

 

With this tool, citizens will no longer need to know how to use the currency exchange – thereby eliminating a major hurdle in achieving the trading volume we need.

Here’s how the tool will work:

1)      To start trading, visit your trade history page (https://secure.empowr.com/FBBank/TradeHistory.aspx), select whether you’d like to buy or sell coins, enter the amount you wish to trade and submit your order

New product features launching

2)      The first time you buy or sell coins, the tool will need to set up your wallet so that you can make trades.

If this is needed, you’ll see the following message after clicking the button to buy or sell for the first time:

New product features launching

To verify the status of your wallet being set up, simply click the transaction link in the text above when it appears. When the transaction is successful (this generally happens in less than a minute), you can go back to the trading tool and click the button to buy or sell again.

3)      When buying or selling coins, you’ll always need to have enough Ether reserved for trading as both the blockchain and the exchange will charge a small fee for each trade.

You can see how much Ether you need reserved for each transaction here after inserting how many coins you wish to buy or sell:

New product features launching

If you attempt to buy or sell coins and don’t have enough Ether reserved for the transaction, the trading tool will reserve the Ether for you before placing the trade:

New product features launching

Note: ‘Reserving’ Ether is the same as the old process of ‘wrapping’ Ether – it’s just an easier way to describe the process to those that are not familiar with cryptocurrency.

4)      Once you have enough Ether reserved, you’re ready to place your trade. Just click the buy or sell button, and you’ll see that your order has been placed:

New product features launching

 

To ensure your trades are completed as quickly as possible, the tool places all trades at the best buy/sell price that is currently available on the exchange (called a market order). Just check back on the page within an hour after placing your trade and you’ll see that your balance at the top of the page will be updated to reflect your completed trade, and you’ll also see the trade in your trade history at the bottom of the page:

New product features launching

 

And that’s all there is to it! Once you’ve had a chance to give us feedback as to whether the tool works perfectly yet, or if you want some modifications made first, the next step will be to allow you to automate the tool with a single click.

By automating the tool, you’ll be able to tell the tool that you want to, for example, trade $100 in coins each day (say, $50 in buys and $50 in sells) so you can keep your trading bar totally full without even thinking about it – this will enable you to maximize your cash advances and shopping every day with little to no effort.

 

New coin launch

With the launch of the new trading tool, it’s time for us to also launch a new coin - the empowr blue coin (EMPRB).

In order to understand the coin strategy that the community has adopted over time, through the process of trial and error, I suggest that you read this post: The empowr coin strategy  

How the new empowr blue (EMPRB) will work

Over the past 12 hours, the following items have been put into place:

1) Enabling coin swaps 

Any EMPRG coins in your Coin Savings Vault will be automatically converted to the new EMPRB coin.

o   The conversion rate is 1 trillion EMPRG to 0.00002 EMPRB coin.

Any EMPRG coins transferred into your Coin Savings Vault will also automatically be converted to the new EMPRB coin at the same rate.

You can transfer in your coins here: https://secure.empowr.com/FBBank/Default.aspx?TransferIn=1 

2) Trading bonus updates 

After the swap, trading bonuses will only be awarded for trades with the new empowr blue coin (EMPRB).

Keep in mind that trading is a major factor in determining how much of your earnings you can cash advance and shop in the marketplace with, so you’ll want to start trading EMPRB as soon as possible to ensure you can maximize your cash advances and shopping balance.

With the new coin live and the trading tool in place, we expect that trading volume will begin to rebound once again, enabling sellers (and all citizens) to cash out at a more predictable rate.

 

Post earnings, Power User subscriptions, and the removal of pre-coins

To further simplify the platform for the masses, effective this week, we will be removing pre-coins from everyone’s balance and unifying all earnings on the platform into 1 singular balance.

Specifically, your earnings from posting and payments for Power User subscriptions will now be paid directly with coins – instead of pre-coins.

 

Updates to your post earnings

As you know, you earn from posting based on the “likes” you receive. Payment from posting has always been in pre-coins which you could then convert to coins when you hit your Daily Goal and spin the Mission Wheel.

Thanks to the community’s feedback asking for more consistency in how much they earn each day, the system has now been updated to soon begin paying directly to your maturing coin balance when you earn from posting each day.

You’ll earn a base amount based on the number of “likes” that you received, and then earn up to 500 times more based on the following:

·         Your Power Level (the highest Power Level earns 5 times more than the lowest power level)

·         Hitting your Daily Goal (you’ll automatically receive 10 times more from posting for the day when you hit your Daily Goal)

·         Your Mission Role (Mission Founders earn 10 times more than Mission Volunteers)

Given that you will now be guaranteed to earn coins when you post each day, there is no longer a need for the Mission Wheel. Instead, each day when you hit your Daily Goal you’ll see exactly how much more you’ve earned from posting (and how much of it is immediately available to shop with):

New product features launching

 

Updates to Power User subscriptions

Moving forward, your Power Level will be determined based on the number of Daily Goals that you have hit – not based on the amount of pre-coins you have earned.

In that manner, only the most active and experienced citizens will have the opportunity to move up the Power Level ranks and achieve the benefits and responsibilities that each level has associated with it.

As a new citizen, you’ll move up the Power Levels quickly, needing to just hit 5 Daily Goals per level. Then, as you get more experienced, it will take more Daily Goals to upgrade – from 10, 20, 30 and even more at the highest levels.

 

Power User subscriptions are now free for active citizens

Each time you upgrade to the next level (or renew at your current level) you’ll be charged in coins instead of pre-coins for that level. For active citizens that hit more than 5 Daily Goals per month, this charge will be instantly refunded as the community’s way of saying “Thank You” for your contribution to the platform’s mission and economy, rendering your Power User completely subscription free of charge.

 

What you can expect

This week, each of you will be upgraded to the highest Power Level you have previously achieved OR to the level that you should be at based on the number of all-time Daily Goals you have hit.

We’re aware that the Power User subscription upgrades and renewals have not been working properly as of late, so this one-time adjustment will get you to the level you deserve to be at.

Once there, you’ll never lose your Power Level again – you’ll either be renewed every 30 days at the level you are at, or be upgraded to the next highest level as you gain more experience by hitting Daily Goals.

 

The removal of pre-coins

As you know, the purpose of pre-coins has been to (1) pay for Power User subscriptions and (2) be converted to coins from the Mission Wheel when you hit your daily goals.

Now that those 2 items have been modified and simplified to work with coins directly, there is no more need for pre-coins. Therefore, you can expect pre-coins to be removed from your balances once the updates to posting are in place over the next week.

We understand that many of you have worked for quite some time to earn the pre-coins you have in your balance, but hope that everyone can understand how the value that they have provided has now been replaced by simplifying the platform into one (1) singular balance – in accordance with the community’s objective of simplifying the platform. Rest assured, that the removal of pre-coins in your balance has no negative consequences on your earnings capabilities within the platform.

 

Coming up next

I hope that you’ll agree that the above changes will not only simplify the platform for new citizens trying to learn how everything works, but it will also lead to a better experience for all citizens.

In the coming days, I’ll be announcing the launch of the long awaited “Buy” listings, which will enable buyers to specify exactly what they want to buy – by simply including a link in their listing to any item for sale anywhere -- on any website. And sellers will be enabled to get exactly the profit they desire, without unpaid items or creating any listings.

As a result of these upcoming rollouts, buyers and sellers will get exactly what they want, taking out much of the friction from the economy so that it's ready to grow quickly.

Once all of these updates are in place, we will be ready to further expand our marketing efforts to grow at a much more rapid pace as we prepare for our beta launch.

 

Let us know what you think

As always, there will be issues and bugs with these new rollouts, as everyone tests the new features with their unique combination of browsers, phones, and knowledge level.

So please expect there to be some issues, and we will work hard to correct everything, until everyone is pleased with the new features.

So please let me know your thoughts and questions in the comments below. I look forward to speaking with you all again very soon!

 

Brian

EMPOWR HOUR YOUTUBE - LIVE STREAM - EPISODE 049

STARTING AT: 8:30am PDT (3:30pm UTC) 

 

 

Tune in this Friday, June 7th, 2019 | 8:30am PDT (

EMPOWR HOUR YOUTUBE - LIVE STREAM - EPISODE 048

STARTING AT: 8:30am PDT (3:30pm UTC) 

 

 

Tune in this Friday, May 24th, 2019 | 8:30am PDT (

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