Re: [ANN]Bitcore- BTX - SEGWIT - hybrid fork 1:0.5 of Bitcoin- 8% Airdrop every week
Yep. The last airdrop should be on April 30th and the percentage (%) of the drop is to be finalized. Minimum 8%, but more than likely 8.5%-9% depending on how many coins are left in address #1.
Many people ask questions on what to expect after April 30th. I decided to compile a short summary of what has already been communicated by the team. I might be missing a few things, but I'd say the most important stuff should be there.
In May, the new development phase begins -- Here are just a few tasks from the many the team is working on:
Note: all these updates were communicated by the team over the past few days/weeks
Whitepaper
Hardware wallet (Ledger nano completed task from Bitcore. Ledger has to implement it but must fix their internal issues before. Trezor to come after Ledger in Q3 (estimate))
New exchanges (Many new listings recently on smaller exchanges. More to come as they get confirmed. The team can't speculate nor pre-announce the future listings)
PR (Announcements and articles to come post airdrop)
Some great read by Peter Mercury https://btcmanager.com/cryptocurrency-community-ignoring-bitcore/https://medium.com/cryptomedication/bitcore-still-remains-one-of-the-biggest-steals-in-the-cryptoverse-72540d8ed73e
Active marketing (Details to come post airdrop)
Buy/Sell BTX directly on bitcore.cc (Details to come post airdrop)
BTXM / Payment gateway (Official announcement to come post airdrop. The goal will be to target real businesses and real people that may or may not be into crypto. See also some of the comments below from the team with regards to the BTXM)
https://twitter.com/Bitcore_BTX/status/982354529512550400
Expansion of the merchant network (Details to come post airdrop)
And much more...
BTW the Bitcore Cash fork has nothing to do with the dev team and if legit, looks like the fork would happen on June 16th at 1:1 ratio. The only spec info that was communicated was a 133MB blocksize. (This could be a scam, so be careful with your private key). I guess we just want to wait and see at this point.
The BTXM is certainly one of the main Bitcore projects that could become a game changer not only for Bitcore but the crypto space IMO. Below are some of the comments from the team I can share...
So the shift in focus is now being made to education, vision, infrastructure and utility. We are done with the dry technological superiority of btx speeches, of course if we get questions all will be answered
So the fiat gateway and btxm concept will be repeated many times till we finally get through to the masses in the community.
We are at the verge of getting started now and the race for adoption is on. If we manage to get a 1000 machines in the field in yr1 we are well on our way. Production is being prepared for that and we have the option to expand on that if needed
Btxm = crypto enables fiat service gateway
The version we presented on coinfest was the first prototype we had to get dev going, the next version is the first production-ready model, it's being produced as we speak, it comes with options for the bill acceptor, there's a 600 and a 1200 stacker version, but the rotator holds 80 bills of any value. It's configurable. So you can tell it that if it receives a 500 bill for example to not store it in the rotator, but directly stack it for example. It even generates paper wallets
It's a tool to expose the general public to the benefit of being able to use crypto in a user-friendly manner. If you already have coin you can use them directly on these machines
They are designed to be very flexible with regards to kyc and aml. So it will be hard to ban them
Steve: I saw that machine now for two days in the hotel room and for me its one of the most exciting projects Ive ever seen
Even though we have the btxm's in the works, we are also hard at work to integrate existing atms, Jon has done awesome work with general bytes and there are more to follow. It's vital for our mission that we represent on all hardware platforms available
These quotes about the BTXM are from April 8th...
Wel the btxm isn't an ATM at all actually, it is a fiat machine that takes and gives fiat for 1,2nd and 3rd parties
That's all it does
So any fiat service can be integrated to it. Think mobile top up cards, or AppStore cards
The reason it also functions as an ATM is because of the fiat gateway service on it
So if you want to buy a top up card for your mobile for example you can pay with cash
Because of the bitcore fiat gateway service that is integrated you can also pay with btx
As it will automatically convert your coin to fiat for the top up service
For you it has 0 impact
From the machine operators perspective he makes 2 commissions. Let me explain that a little bit from a busyness perspective
If you buy a top up card for 10 the seller makes gets anywhere between 2-10% of that 10. It has 0 impact on the buyer. Because your voucher gives you 10 of top up
If they use btx for example the seller will get a small % in commissions from the fiat gateway
So they only get commissions from the fiat gateway they aren't able to set a percentage of margin on the coins they sell or buy, it bound by contract with the fiat gateway
That way we are able to keep the fees very low and you won't be punished by using coins to pay for your services like with a normal ATM where the operator takes 5-20% on the sale and the exchange takes an other 5% for example
An other thing that greatly reduces loss in what you get for your coin is that it's decoupled from btc
So you don't lose on the insane btc fees and pay a few times for conversion from cash->btc->btx
And the other way around
And don't forget that network fees on btx are very cheap on btx
The rates you'll get from the fiat gateway might not be the cheapest on the market, this is be cause we need real banks, real people and compliance for it to work. But in reality it will be the cheapest way to buy and sell coins, because there is no btc and exchange fees involved
Just to make it clear: I want to buy btx, I deposit fiat to an exchange (might involve bank fees), I buy btc-> exchange charge me fees on the buy, I need to send those coins to an other exchange-> the exchange might charge me for withdrawal and I have to pay btc network fee, I buy btx the exchange takes a fee on my buy order, then again they might charge me on withdrawal, then I finally have the coins
See how that route is expensive and not user friendly?
With the fiat gateway the fees involved are only a commission for the vendor as with any other service and it will be just enough to incentivize them
The btx is a device that takes cash for the fiat gateway among other services that take cash
The target audience for the btxm is not the crypto community but average joe stores and 'normal' people. We just expose them to crypto because the service is on the machine that also has lots of other services on them. This is how we reach huge amounts of people with 0 knowledge abou crypto
Thanks QB, I am purposely quoting your big post because everyone needs to read this.Many people ask questions on what to expect after April 30th. I decided to compile a short summary of what has already been communicated by the team. I might be missing a few things, but I'd say the most important stuff should be there.
In May, the new development phase begins -- Here are just a few tasks from the many the team is working on:
Note: all these updates were communicated by the team over the past few days/weeks
Whitepaper
Hardware wallet (Ledger nano completed task from Bitcore. Ledger has to implement it but must fix their internal issues before. Trezor to come after Ledger in Q3 (estimate))
New exchanges (Many new listings recently on smaller exchanges. More to come as they get confirmed. The team can't speculate nor pre-announce the future listings)
PR (Announcements and articles to come post airdrop)
Some great read by Peter Mercury https://btcmanager.com/cryptocurrency-community-ignoring-bitcore/https://medium.com/cryptomedication/bitcore-still-remains-one-of-the-biggest-steals-in-the-cryptoverse-72540d8ed73e
Active marketing (Details to come post airdrop)
Buy/Sell BTX directly on bitcore.cc (Details to come post airdrop)
BTXM / Payment gateway (Official announcement to come post airdrop. The goal will be to target real businesses and real people that may or may not be into crypto. See also some of the comments below from the team with regards to the BTXM)
https://twitter.com/Bitcore_BTX/status/982354529512550400
Expansion of the merchant network (Details to come post airdrop)
And much more...
BTW the Bitcore Cash fork has nothing to do with the dev team and if legit, looks like the fork would happen on June 16th at 1:1 ratio. The only spec info that was communicated was a 133MB blocksize. (This could be a scam, so be careful with your private key). I guess we just want to wait and see at this point.
The BTXM is certainly one of the main Bitcore projects that could become a game changer not only for Bitcore but the crypto space IMO. Below are some of the comments from the team I can share...
So the shift in focus is now being made to education, vision, infrastructure and utility. We are done with the dry technological superiority of btx speeches, of course if we get questions all will be answered
So the fiat gateway and btxm concept will be repeated many times till we finally get through to the masses in the community.
We are at the verge of getting started now and the race for adoption is on. If we manage to get a 1000 machines in the field in yr1 we are well on our way. Production is being prepared for that and we have the option to expand on that if needed
Btxm = crypto enables fiat service gateway
The version we presented on coinfest was the first prototype we had to get dev going, the next version is the first production-ready model, it's being produced as we speak, it comes with options for the bill acceptor, there's a 600 and a 1200 stacker version, but the rotator holds 80 bills of any value. It's configurable. So you can tell it that if it receives a 500 bill for example to not store it in the rotator, but directly stack it for example. It even generates paper wallets
It's a tool to expose the general public to the benefit of being able to use crypto in a user-friendly manner. If you already have coin you can use them directly on these machines
They are designed to be very flexible with regards to kyc and aml. So it will be hard to ban them
Steve: I saw that machine now for two days in the hotel room and for me its one of the most exciting projects Ive ever seen
Even though we have the btxm's in the works, we are also hard at work to integrate existing atms, Jon has done awesome work with general bytes and there are more to follow. It's vital for our mission that we represent on all hardware platforms available
These quotes about the BTXM are from April 8th...
Wel the btxm isn't an ATM at all actually, it is a fiat machine that takes and gives fiat for 1,2nd and 3rd parties
That's all it does
So any fiat service can be integrated to it. Think mobile top up cards, or AppStore cards
The reason it also functions as an ATM is because of the fiat gateway service on it
So if you want to buy a top up card for your mobile for example you can pay with cash
Because of the bitcore fiat gateway service that is integrated you can also pay with btx
As it will automatically convert your coin to fiat for the top up service
For you it has 0 impact
From the machine operators perspective he makes 2 commissions. Let me explain that a little bit from a busyness perspective
If you buy a top up card for 10 the seller makes gets anywhere between 2-10% of that 10. It has 0 impact on the buyer. Because your voucher gives you 10 of top up
If they use btx for example the seller will get a small % in commissions from the fiat gateway
So they only get commissions from the fiat gateway they aren't able to set a percentage of margin on the coins they sell or buy, it bound by contract with the fiat gateway
That way we are able to keep the fees very low and you won't be punished by using coins to pay for your services like with a normal ATM where the operator takes 5-20% on the sale and the exchange takes an other 5% for example
An other thing that greatly reduces loss in what you get for your coin is that it's decoupled from btc
So you don't lose on the insane btc fees and pay a few times for conversion from cash->btc->btx
And the other way around
And don't forget that network fees on btx are very cheap on btx
The rates you'll get from the fiat gateway might not be the cheapest on the market, this is be cause we need real banks, real people and compliance for it to work. But in reality it will be the cheapest way to buy and sell coins, because there is no btc and exchange fees involved
Just to make it clear: I want to buy btx, I deposit fiat to an exchange (might involve bank fees), I buy btc-> exchange charge me fees on the buy, I need to send those coins to an other exchange-> the exchange might charge me for withdrawal and I have to pay btc network fee, I buy btx the exchange takes a fee on my buy order, then again they might charge me on withdrawal, then I finally have the coins
See how that route is expensive and not user friendly?
With the fiat gateway the fees involved are only a commission for the vendor as with any other service and it will be just enough to incentivize them
The btx is a device that takes cash for the fiat gateway among other services that take cash
The target audience for the btxm is not the crypto community but average joe stores and 'normal' people. We just expose them to crypto because the service is on the machine that also has lots of other services on them. This is how we reach huge amounts of people with 0 knowledge abou crypto
There are so many people around that think BTX is a simple BTC (hybrid) fork that offers nothing but good tech, without realizing that the team is hard at work and really wants this to be a success.
A lot more information has been released by the BTX team lately on Telegram and Twitter which is a nice change from earlier where there was long periods of time without any updates (which in turn left many people scratching their heads).
I've said it before on my Twitter and I'll say it again here: It's after the airdrops are finished that the fun begins.
--ypsi
So many good things happening
I hate to say it, but i am ready for airdrops to be over!