(Note: This announcement is an abbreviation of our official whitepaper: https://btk.community/bitcointoken-whitepaper.pdf )
BitcoinToken is a de-centralized Currency on blockchain technology. Open Source. Community run and maintained. It is a currency ultimately owned by the people who posses it, a financial system owned by individuals not a large entity.
BitcoinToken is not an ICO but a radical step towards repeating and improving the legacy of the original Bitcoin in creating a de-centralized currency, by the people for the people. Unlike other cryptocurrency ventures that seeks to sell all or almost their entire tokens during their ICO, BitcoinToken is designed to be majorly distributed as awards to adopters for maintenance and continual improvement of the project. The remaining large portion of tokens are to be airdropped freely. This again is another attempt to start a movement of a crypto community that can not be controlled by major donors or financial investors but each person of the community adds the value to the currency. Instead of nodes it is people. Instead of business decisions, it is a passionate individuals adopting a new way of thinking and transferring money through blockchain technology.
A NEW SOLUTION NEEDED
With larger adoption Bitcoin has run into problems like scalability, its price-point is daunting to investors or for common day usage. Mining prices to sustain the network have become astronomical in energy consumption. The time and fees of the TX have made the currency un-usable for day to day transactions with waiting periods of up to 30 minutes or longer. These; among others, are the problems that inspired the creation of (BTK) BitcoinToken. Despite the challenges associated with bitcoin, a lot of investors still want to participate in its market. To this end, BTK is introduced as a platform for easy, fast, affordable and efficient use of bitcoin. The solution is centered around giving people (BTK community) the ability to comfortably use bitcoin through a scalable alias – BTK.
One ailment of the crypto-currency world is over technicality and confusing jargon. We believe that blockchain technology can be delivered to a larger user-base with simplicity, and less confusion. BitcoinToken is striving to be one of the leaders in adoption for everyday use of digital currency. We intend to simplify and bring the powerful peer to peer ledger system into the hands of every day people who will utilize it everyday transactions. Our vision to accomplish this is to put the community and people first. We regularly speak of ourselves as a community currency and enjoy the simple comments and interactions of new users to blockchain technology. We allow them to dictate how we should make things easier and more effective for their use. We also are community run and desire to set the framework of an open source system where this currency will perpetuate with the community in control not a large investor or any larger centralized entity. We desire for BTK to remain and continue as a decentralized currency for the people.
BitcoinToken is looking to make the bitcoin currency easily transferable and liquid-able for purchasing power. We are already in talks with various companies that we believe are spearheading the way forward to integration with all major existing e-commerce online platforms. The current TX rates can be as low as .2 cents, so this makes our solution strongly competitive with Paypal or Stripe who charge 2.9%+ for each transaction of money. So our goal is to have BitcoinToken available to be used by small businesses or websites as method of payment or donation to transfer funds.
BitcoinToken is to provide a stable cryptocurrency that will be trusted and adopted. We are currently utilizing the Ethereum blockchain as we have started an ERC20 token under their system. Our circulation of tokens is 10 billion with a decimal point of 18 and our contract address is: 0xdb8646f5b487b5dd979fac618350e85018f557d4. The Ethereum platform is trusted and utilized by very large companies and is a very forward thinking blockchain. We have discussed amongst developers the need to continue to evaluate the long-term durability of the ETH blockchain and if we need to start our own blockchain. So we have not closed the door to this possibility depending on the adoption rate of BitcoinToken and it’s scalability issues.
BitcoinToken is very sensitive to the need to educate people on blockchain technology in a simple user-friendly fashion. This objective is close to the heart of the project in putting people and their needs first in ensuring adoption of the technology is easy and even fun. Our platform is open source and also spreads further education and forward thinking of the blockchain technology, spurring on innovation.
BitcoinToken since its foundation has been a world-wide currency. Developers from many countries, advisors, innovators and volunteers on social media have been from varied parts of the world. This has become part of our DNA to cater to the needs of translation work and adoption of blockchain technology in countries all over the world. This is another way that blockchain technology is disrupting the financial sector is that it is rewarding not only the rich but poor in any part of the world. We are excited to have team members joining from all walks of life and social status to be a part of BitcoinToken.
BitcoinToken will make blockchain technology less daunting for the end user and give people renewed confidence in this pioneering way of transferring funds through a peer to peer digital network. From our custom applications to partnerships with like-minded teams, we are seeking to make this technology as user-friendly as possible.
Since the beginning of BitcoinToken there has been an desire from many of the team members to remain anonymous in their contributions. This has helped the team focus on the main project and ensure steady growth. We see the same in the original vision of bitcoin, anonymity was also part of its success. Our goal is results that are tangible in user-interaction and adoption and not to focus on the developers behind the scenes.
Many ERC20 tokens starting are used by businesses that are centralized entities. The original vision of blockchain technology is to operate in a way that is peer to peer and not a part of any centralized hub. The genius of this technology is that it runs and works apart from the control of any one individual. Whether utilizing the ETH blockchain or starting our own. The goal will be to ensure a de-centralized model is maintained.
C) Open Source
In keeping with the spirit of many projects in the crypto world we desire to be open source with everything that is developed. From Wallet Apps to any E-commerce applications. Everything will be open source or released onto Github after initial development This will allow for further innovation and for anyone to take part in improving BitcoinToken.
D) No Large Pre-Mine
We are disseminating the currency in a way that will not allow for whales or large investors of a certain extend to own the currency at the beginning. This gives an equal fair share for investors of all types. Being a token and not a mineable currency we are ensuring wide distribution in varying amounts.
E) Large Airdrop
Airdropping of token currencies is a fad right now as a PR stunt for many new tokens starting. We are looking to airdrop not just part of the currency but the lion-share to a large-user base. This will set us apart from many of the tokens starting that are essentially doing a small airdrop to boost recognition of their branding. We estimate as much as 70-80% will be airdropped being the other 20-30% is used for bounties, investor funding and rewards (not payment) for initial development work done for BitcoinToken.
A big focus is the development of a strong and large community that is active and helping dictate the future of the BitcoinToken currency. We see the value of the currency in its community and this will ensure the long-term durability of development, innovation and use of BitcoinToken.
An important aspect of this project is its outward focused goal of mass adoption rate. Innovation and improvement to the blockchain technology is important but if it is not being used it becomes just test-tube experiments but not applied to real-life. We believe in its adoption to a large user-base of even non-crypto minded people that the technology will have to adapt and change and this will bring innovation otherwise not thought of.
A question asked over and over again in this project is “can it be done more simply.” The complexity of many systems that utilize bitcoin technology narrow the field of usability. BitcoinToken strives to be unique amongst digital currencies to keep things simple, user-friendly and even fun to use.
Token Name: BitcoinToken
Token Symbol: BTK
Token Decimal: 18
Tokens in Circulation: 10,000,000,000
Contract Address: 0xdb8646f5b487b5dd979fac618350e85018f557d4
ROADMAP (MAJOR EVENTS)
First Quarter of 2018
- Completion and launch of Referral Script / Smart Contract code to garner a possible 100k followers through this #airdrop
- Translation and release of the official [ANN] announcement in 20+ languages.
Second Quarter of 2018
- Addition of 1-2 medium sized exchanges for more liquidity for BitcoinToken and investment potential (and also spur on price growth).
- Continued development of native BitcoinToken (BTK) IOS and Android Wallet APP.
Third Quarter of 2018
- Partnership with E-commerce integration businesses to ensure adoption of BitcoinToken for small businesses and online spending.
- Translation of native BitcoinToken (BTK) IOS and Android Wallet APP into 50+ languages.
Fourth Quarter of 2018
- Addition of 1-2 larger exchanges for more liquidity for BitcoinToken and investment potential.
- Addition of BitcoinToken into currency into on-demand exchangers.
- The possible release of the native BitcoinToken (BTK) IOS and Android Wallet in APP stores.
LOOKING BEYOND (2019-2020)
In the fast-pace crypto world everything can change in one year! Our main longer goals would be larger user-adoption and on-going development of our APP. Integration with cutting edge platforms into e-commerce and other methods of transferring monetary value. We will continually be petitioning for larger and more extensive open source development help and ensure a public free decentralized platform for the furthering of the project. We intend to see increased value and use of BitcoinToken over time.
JOINING WITH #BTK
BitcoinToken is a tremendous opportunity for someone who is looking to invest in blockchain technology. We believe with large user adoption and holding of the currency there will be increased value and demand for BitcoinToken (BTK). Many projects start with ICO’s or pre-made business models that ensure that the company or entity is first in reward. We intend to reverse this where the people themselves are rewarded as early adopters for a pro-longed period of time.
Join us! Be a part of crypto-currency history and enjoy the benefits for yourself. Our currency is available at a variety of exchanges, but our recommended avenue for investors is the Token Store (a safe trust-less decentralized exchange) that we have partnered with initially and will continue in that relationship. We welcome your questions and ideas, we are here to serve you: [email protected]
Please note that this document is not a prospectus. It was constituted for informational purposes only, in order to present BitcoinToken products. Be aware that no purchase is necessary. You are free to take part in the project or not. It is your responsibility to review the existing laws in your country before buying BitcoinToken. You must read, understand and accept the terms of this document https://btk.community/bitcointoken-whitepaper.pdf before involving yourself in the project.[/sup]
Disclaimer: I am only the Bounty Campaign Manager for this project. I am paid only to manage this project's bounty campaign and post this announcement thread. I will not be held responsible should the developers/project's team fail to reach their stated goals/obligations to the bounty participants, investors and everyone else. Join (on their bounty campaign) or Invest (on their ICO) at your own risk.