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About Bit
Bit is a coin used in the Bit Money Network platform. It is designed to be an international currency to replace Bitcoin. Bit is designed to be used on the following platforms:
Bit Money a platform that applies software to millions of existing payment terminals otherwise known as points of sale (POS) terminals or credit card machines throughout the world. Bit will exceed the 300,000 to 500,000 POS currently associated with Bitcoin and Ethereum to over 50,000,000 POS using existing terminals with its own proprietary software. This software allows anyone with the mobile Bit wallet to purchase goods and services using existing credit card machines. The software allows credit card machines to bypass Visa, Mastercard, and other companies, bringing retailers and consumers lower transaction fees. On newer POS terminals that already are capable to accept virtual currencies, this platform acts as a software patch so that machine can accept Bit as well as others.
Pay Guarantor this platform is a blockchain-based transaction confirmation and processing system. After the wallet and the point of sale terminal have completed the transaction, Pay Guarantor processes the transaction into local currency either in country, and for countries with virtual currency restrictions, it processes the transaction out-of-country. Pay Guarantor also confirms at time of transaction that the retailer or business will be paid. This platform provides a liquidity backend for processing, ensuring all transactions clear without issue. Pay Guarantor partners with banks operating in country to allow local currency. Once Bit reaches USD 1000 per coin, the Pay Guarantor platform will refund transaction fees to retailers through 2029.
Currently in discussions with 9 different banks to accept this software and platform. These banks, by accepting Bit and its platform, are recognizing Bit as the de facto international virtual currency.
What is Bit?
Bit is peer-to-peer, and peer to retailer electronic cash for the Internet and for brick and mortar retailers, utilities, and governments. It is fully decentralized, with no central bank and requires no trusted third parties to operate.
Is Bit different from Bitcoin?
Yes. Bit is the continuation of the Bitcoin project as peer-to-peer digital cash. It takes the currency one step further to be widely accepted through-out the world, like an international currency.
Why wasnt a fork necessary to create Bit?
The Bit is not a direct fork with the same ledger, it is a coin that was launched, if we did a direct fork, there would not be a sufficient amount of funds to fund the team and to offset transaction expenses.
Was the Bit necessary, why not Bitcoin?
Bitcoins market price has increased, but its growth and usefulness as a currency has stagnated. Many users, merchants, businesses and even investors left Bitcoin for alternatives, causing its dominance to fall from 95% to as low as 35%.
Does Bit fix these problems?
Yes. Bit has launched with over 50 different retailers in South America, Japan, and the United States.
We are negotiating with retailers to accept payments with Bit and our research and forecasts show that we will exceed Bitcoin and other virtual currencies for retailer acceptance by the end of 2018.
Retail Network
More are coming soon!
Technical Details
Symbol: TBD
Current Value: - (est. 10.00 $)
Number of coins in circulation: ~16,000,000
Maximum number of Coins: 21,000,000
Algorithm: Scrypt
Wallet Downloads
Windows Wallet
Mac Wallet
Team
Michael Greene Project founder
Zak Morioka Business expansion
Maurice Banek Business development
Alex Quirino Transaction Processing and Fintech
Jon Chapman Web development & Marketing
Bailey Stockdale Tech development & Crypto development
Mining
Coming soon...
Exchanges
Coming soon...
Pre-Sale
Phase 1
02.02.2018 09.02.2018
Supply: 250.000 Bit
Price per coin: 10.00 USD
Accepted payments: Bitcoin
Pricing:
Beginner deal 100 Bit <= 1000 USD (Base price)
Basic deal 250 Bit <= 2400 USD (-100.00 USD)
Advanced deal 500 Bit <= 4700 USD (-300.00 USD)
Expert deal 1000 Bit <= 9300 USD (-700.00 USD)
Phase 2
16.02.2018 23.02.2018
Supply: 250.000 Bit
Price per coin: 15.00 Bit
Accepted payments: Bitcoin
Pricing:
Beginner deal 100 Bit <= 1500 USD (Base price)
Basic deal 250 Bit <= 3650 USD (-100.00 USD)
Advanced deal 500 Bit <= 7200 USD (-300.00 USD)
Expert deal 1000 Bit <= 14300 USD (-700.00 USD)
Phase 3
09.03.2018 16.03.2018
Supply: 500.000 Bit
Price per coin: 20.00 USD
Accepted payments: Bitcoin
Pricing:
Beginner deal 100 Bit <= 2000 USD (Base price)
Basic deal 250 Bit <= 4900 USD (-100.00 USD)
Advanced deal 500 Bit <= 9700 USD (-300.00 USD)
Expert deal 1000 Bit <= 19300 USD (-700.00 USD)
How can I order some?
Join our Discord server and get in touch with us!
Website ■ Discord ■ Windows Wallet ■ Mac Wallet ■ GitHub