Ok, I have had confirmation from the new coin's dev that the wallet has been working well on the testnet and is all but ready for release.

With that in mind the date for the burn/buy process to commence is scheduled for this coming Friday 25th March.

A link for the wallet download will be posted on that date, along with the web address for the burn/buy page where you will be required to post a valid wallet address to receive your share of the new coin's distribution and where you will be issued with a unique BITS address to send the coins you wish to burn to.

The burn/buy submission period will cease at GMT12:00 Sunday 27th March.

A table listing all of the BITS addresses and balances which have received deposits, along with a figure showing the proportional share of the new coin which will be received at their associated new coin wallet address, will be posted in order for the community to check and verify.

Once it has been established that all is in order and there are no objections the new coin will be distributed accordingly.

Having confirmed that the distribution has been completed and verified by the community the BITS coins which were sent to be burned will be consolidated into one address which can be monitored until the new BITS wallet and chain is issued, whereupon that consolidation address will be omitted, thereby provably removing the submitted total number of Bitstar coin from the coin supply.


I would like to remind everyone of the following key points which should be taken into consideration when deciding if and how much you wish to commit to this burn/buy process:

1.This new project is the creation of an app which will, in part, utilise a public blockchain for the 'token' element of its functionality.
2.This beta app may or may not be released as a commercially-launched finished product.
3.This app project is an entirely speculative venture. Your choice to participate in the burn/buy for the coin is taken as acknowledgement of the risks associated with an experiment such as this.