FAQ

Cryptocurrency For Consumers

Frequently Asked Questions

 

  1. How do I know if the code is correctly installed on my site?
  2. How do I get paid and convert JSE to USD or my local currency?
  3. Something isn’t working in the platform what should I do?
  4. How do I setup an account and place the code for my site?
  5. How does JSEcoin work for publishers?
  6. Is there a wallet available to store coins outside of the JSE platform?
  7. Is the algorithm used open source and available on github/gitlab?
  8. Do you have a rough guess at what the ICO price to BTC will be?
  9. Currently you are evaluating JSE at $1 per coin, where did you get that evaluation from?
  10. Is there any way to improve UX and credibility?
  11. How do I install the JSEcoin snippet on my wordpress site?
  12. Where do I paste the code on my site?
  13. Is there any specific legalese we need to put on our site?
  14. If jsecoin is a coin on its own, is it listed on coinmarketcap?
  15. Is it possible to mine on multiple computers logged into the same account? If not, should one set up multiple accounts with same owner/email address?
  16. What is your vision and what are the risks involved?
  17. I saw your code on another site and I am trying to understand how it really works and what does the site publisher gets out of it?
  18. Does each website has to have its own snippet (including the domain name), or can the same snippet be laced on multiple websites?
  19. What is the total amount of possible earnings per day?
  20. In regards to the bitcoin harvesting in the browser, do you have an explanation of how you do this?
  21. Are you creating a botnet under the guise of crypto?

 

How do I know if the code is correctly installed on my site?

You can see it running by opening a console log window. To do this visit your web page using Firefox or Chrome and in Firefox hold down CTRL + SHIFT + K, and in Chome press CTRL + SHIFT + J

A console logging window will open which will show background processes and you will be able to see the script collecting block data and working on hashes.

The privacy notice will only show once per hour so it doesn’t get in the way too much and there is a ten second delay on it after page load.

 

How do I get paid and convert JSE to USD or my local currency?

You are paid in JSEcoins which are cryptocurrency tokens for placing the code on your site which will get your visitors to carry out mathematical equations in the background which help secure the blockchain.

Unfortunately for all of us JSEcoin’s are very new (launched publicly in August 2017) so there is currently no way to cash out your JSE. Internally we are looking at an ICO in Q2 2018, you will then be able to transfer JSEcoin to the exchanges and swap for Bitcoin/USD etc. While there will never be a better time to mine cryptocurrency because competition is low, you wont be able to spend the earnings until after the ICO next year. Also worth noting is that if something goes wrong with JSE or the cryptocurrency markets in general we may never reach the liquidity stage and the tokens will be worthless. This is the risk that early adopters are facing.

At the moment we haven’t started marketing towards investors because we want to make the publisher platform as good as possible first. This means there are no investors who have heard of JSEcoin yet or are willing to trade USD for your JSE. Once we have the platform running and a solid user base we will start marketing to investors and list on Cryptocurrency exchanges which will allow investors to buy JSEcoins and Publishers to sell them.

 

Something isn’t working in the platform what should I do?

We are pushing out a lot of updates and resetting the servers a couple of times a day at the moment. It could be a browser cache issue, could you try logging out then pressing F5 or refresh a couple of times to reload the latest version of the platform. If that doesn’t work please send us a note at https://jsecoin.com/contact/ and we will look into it.

 

How do I setup an account and place the code for my site?

You can setup an account and copy the code to your website at https://jsecoin.com/publishers/?register=1

Log in and visit the publisher page. Enter your website domain name and click the “Setup Site” button. The code will pop up in a new window and you can either copy and paste it above the closing </body> tag or paste it into the JSEcoin wordpress plugin.

 

How does JSEcoin work for publishers?

You install a piece of code on your site. When the user visits your site the code starts running and the users browser will start running mathematical hashing calculations. Correct hashes are sent back to our servers and the webmasters are rewarded with JSEcoin tokens.

 

Is there a wallet available to store coins outside of the JSE platform?

We are currently integrating the platform with Metamask which is a chrome based wallet which faciliates Ethereum ERC20 transactions and can export private keys for offline storage. This should be released by the beginning of November 2017.

 

Is the algorithm used open source and available on github/gitlab?

All the code is currently private because there is noone else doing webmaster based mining to my knowledge and we don’t want to make it too easy for copycat currencies. We will need to open source it before an ICO though so this will happen in the future.

 

Do you have a rough guess at what the ICO price to BTC will be?

No and I wouldn’t like to guess at this because it relies on external factors out of our control.

 

Currently you are evaluating JSE at $1 per coin, where did you get that evaluation from?

Honestly we settled for simplicity at 1:1USD. We currently have just over half a million coins in circulation valuing the company at around $500k. For an early stage startup with a unique product in the cryptocurrency space this seems reasonable.

 

Is there any way to improve UX and credibility?

Yes hard work 🙂 More specifically we need to make the product and platform as good as it can be for publishers before we start marketing to investors. While plenty of cryptocurrencies ICO on a whitepaper and a promise we are looking to develop a solid product with a strong user base first.

 

How do I install the JSEcoin snippet on my wordpress site?

There’s installation instructions and a video here: https://jsecoin.com/wordpress-plugin-available/

 

Where do I paste the code on my site?

You will need to place the code right at the bottom of your page just above the closing </body> tag. Normally the best place to put the code is in a template file (so it runs across all pages of the site) or index file (so it only runs on the front page). Alternatively if you have a static site you can copy it to each and every page if you wish.

 

Is there any specific legalese we need to put on our site?

This is new technology, we only launched publicly last week, so we haven’t had any legal issues or guidance to contend with. The privacy notice is displayed by default. Users also have the option to opt-out across the entire network. I think if you want to be proactive it wouldn’t hurt to put something in your own terms such as “MySite.com uses background cryptocurrency mining. To opt-out please visit https://jsecoin.com/privacy/“.

 

If jsecoin is a coin on its own, is it listed on coinmarketcap?

JSEcoin is a cryptocurrency on its own but we are not listed on coinmarketcap yet because we haven’t listed on the exchanges. We only launched publicly in August 2017 and want to build a solid proven product with a strong user base before we list. Internally we are planning an ICO during Q2 2018 but this is dependent on outside factors such as the cryptocurrency markets.

 

Is it possible to mine on multiple computers logged into the same account? If not, should one set up multiple accounts with same owner/email address?

We are trying to avoid both scenarios. Basically the self-mining is meant to be a way for individual users to try out the system and see that it works and be fun for everyone. We want to avoid going down the path of multiple user accounts and multiple devices because this will eventually lead to server farms, bot nets etc. and wont benefit everyone. You risk having your account(s) closed and we take active measures to prevent this kind of activity.

 

What is your vision and what are the risks involved?

Regarding our vision, we aim to become the first cryptocurrency which is mined by webmasters and easy to use for consumers. Kind of like Adsense, Paypal and Bitcoin all rolled into one platform.

There is a risk that we wont be able to achieve enough interest in the product from publishers or investors to make it successful. In this case we may never reach liquidity and the coins will be worthless. Bare this in mind before purchasing coins or publishing the code on your website.

The team is working hard to create the best product we can. I think it’s an innovative idea that hasn’t been done before and so far it’s working and we seem to be gaining momentum.

 

I saw your code on another site and I am trying to understand how it really works and what does the site publisher gets out of it?

We are an early stage cryptocurrency which is based around webmaster mining. I assume you have heard of bitcoin where the miners secure the blockchain by hashing data in big server farms. Our system is similar but instead of big server farms we carry out the hashing algorithm in website visitors browsers. This is unobtrusive and runs behind the scenes so it does not negatively affect the user experience or page load speeds for your website visitors.

The site publisher copies our code snippet to their website and is rewarded in payment of JSEcoins to their account.

 

Does each website has to have its own snippet (including the domain name), or can the same snippet be laced on multiple websites?

It is better to track different sites separately. In the future you may wish to see stats by individual sites etc. If you are happy to have all your sites track on one reference then by all means put in a domain name for the network or business in general and use it across all sites.

 

What is the total amount of possible earnings per day?

Total prize pool per day is:

  • 1440 coins for publishers
  • 720 coins for self-miners on the platform

This is divided up between all users who send traffic or use the mining platform.

 

In regards to the bitcoin harvesting in the browser, do you have an explanation of how you do this?

So bitcoin mining is basically a mathematical equation called a hashing algorithm. This takes data and creates a fixed sized string or reference for that data. Change one byte of the original data and the entire resulting string changes completely. The hashing algorithm used is SHA256. For bitcoin this is carried out in huge server farms setup next to power stations because bitcoin has a very competitive rewards system that only rewards one miner per block of data. And whoever can find the lowest value hash for that block data gets the reward. Our system does the hashing calculation in the browser. So instead of using GPU or ASIC hardware we are using excess CPU available to the web browser to do the maths and hash data blocks. While bitcoin mining has a reputation for pushing hardware to the maximum to eek out every last piece of performance our algo runs in the background and is not resource intensive in the same way. The hashing power of CPU will never be competitive with ASIC rigs so you can’t mine Bitcoin with our system. We are only securing our own blockchain which acts as a transaction and accounts ledger. So the server sends the browser a data block, the browser finds a hash and sends it back to the server which processes it and uses it to secure our blockchain. There’s a really good demo here of how a blockchain works: https://anders.com/blockchain/. So to summarize there is nothing concerning going on the browser and the resources used are less than loading a video ad.

 

Are you creating a botnet under the guise of crypto?

So a botnet is a network of hacked computers which are controlled and accessed by a remote program. Our code is just web based javascript, so it runs on a website. As soon as you leave the website the code is no longer running or on your computer. We are not hacking anyone and we are definitely not creating a botnet.