0xBTC Community Update #1 This is the first of an intended series of recurring community updates. Our goal is to issue these biweekly, for now, and possibly more or less frequently as news may dictate.
The past month has been one of blistering growth for 0xBitcoin (0xBTC) and there are many exciting things in the pipeline! We have seen a dramatic increase in awareness and adoption and our community is growing rapidly. As many of you know, 0xBTC is the first proof of work currency on the ethereum network. There was no ICO, no pre-mine and everyone who owns this coin either earned it through mining or purchased it from another community member. The group drafting this letter has no extra control or power over the token — we are just active community members who want to see 0xBTC succeed. Overview of Our Recent Growth.
The table below provides an overview of several growth statistics regarding 0xBTC.
0xBTC GROWTH STATISTICS May 15th to June 15th Unique Wallet Addresses - 3,099 to 4,120 (+38%) Reddit Subscribers - +/- 600 to 913 (+52%) Discord Subscribers -1,373 to 2,475 (+80%) Hashrate 1.14 TH/s to 4.02 Th/s (+252%) CoinMarketCap.
We were recently listed on CoinMarketCap, adding additional exposure. It took a few weeks to get the market cap and circulating supply updated given that this is the first mineable ERC 20 token. It is still unclear if the circulating supply they have on record is dynamic and changes with new supply numbers or if they put in a static placeholder. Thanks to the efforts of some community members we were able to get that mostly sorted out and now have a full listing. Additional Exchanges.
Exchanges are starting to take notice of 0xBTC as reflected by new listings on Mercatox, IDex, and PayFair. Community members have submitted applications for many other exchanges, with the Discord channel
being a good place to keep up to date on developments. Many members have pointed out likely “wash trading” on the Hotbit exchange, leading to its removal from our price and volume bot on the Discord. A community member also informed Coinmarketcap and LiveCoinWatch about our suspicions. LiveCoinWatch has removed Hotbit as per their request. We will continue to monitor for unusually high volume and, as a community, hopefully condemn such practices and distance ourselves from unscrupulous organizations. Lava Wallet.
0xBTC’s developer, Infernal_Toast, recently completed and released the early stages of the Lava Wallet. The Lava Wallet allows the easy transfer of an ERC20 token between users. Using off-chain digital signatures and a network of relayers, users can send any ERC20 token without worrying about holding Ether for gas. Our hope is that 0xBTC will find more application use and personal use as a currency if it is easy to transfer as a standalone token. What is Next for 0xBTC? Lots of things in the Works! Formal Security Audit of Smart Contract.
While the 0xBTC code has been subject to a strict peer review, one initiative is to have a formal 3rd party audit review of the contract code. We believe this might be an important step towards mass adoption and growth, since a currency is unfeasible for use if there remains even a shred of doubt about its functionality. We are looking for low-cost solutions to this, as our community fund pool is limited at this time. The Discord is the best place for community members to give suggestions and work together on securing a fair price for a service from a reputable firm. Legal Determination that 0xBTC is not a Security.
The SEC is giving us more and more guidance each day as to what types of cryptocurrencies may or may not constitute a security. Based on available guidance, many of us believe if analyzed by legal counsel, 0xBTC would not be considered a security [*this is not a legal opinion]. This is important for adoption, since securities are more highly regulated than commodities. There is a community initiative to seek a memorandum / written opinion letter from a United States securities lawyer stating that 0xBTC is not a security. Many of the larger exchanges require this kind of legal analysis — including Binance. This is one reason we were not part of the most recent “Binance Community Coin 7 Vote.” Marketing Campaign —
We would like to raise funds to engage in a marketing campaign to spread awareness of 0xBTC. The full details of this have not yet been determined, but we hope that community involvement will lead us to a good decision on where our community funding should go. Games and Competitions.
Some users are looking at setting up various DAPPS/games/competitions all involving 0xBTC. Some of these might involve gambling, such as sports betting platforms. Please keep in mind that some projects built by community members will not have undergone audits for security. Also, while the vast majority of community made projects are for the benefit and/or recreation of the community, please be wary of scams targeting our community. As 0xBTC increases in adoption and reach, our community will increasingly become a target for such activities. Have fun and play responsibly. 0xBTC Foundation.
We are looking into forming a 501(c)(6) non-profit entity (the “Foundation”) which will serve to promote 0xBTC through spreading awareness and advancing the short and long term initiatives. There will be an initial, provisional board of directors (or equivalent structure) established to set up the foundation and start working on the goals. Once established, anyone can seek to join the board and we plan to figure out an election method. Note that the initial board members don’t get paid or have any power in excess of any one token holder
. The 0xBTC foundation will seek donations to fund some of the initiatives above. We are looking into creating a smart contract of some kind so that if anyone were to donate, they can be certain their funds go to the intended uses. As of now there is a small reserve fund of 19,125.16 0xBTC to be used for community efforts. Let’s make it grow! Remember — Imitation is the sincerest form of Flattery
Given the success of 0xBTC, we have seen the rise of 0xBCH, 0xLTC, 0xDoge and other “0x coins”. The fact that groups are “copying” and imitating 0xBTC is truly flattering and we want to thank all the other 0xBTC coins for their vote of confidence. We wish them all the best. With developments in merge mining
there is even the possibility of having other mineable tokens tie their mining to the mining of 0xBTC, furthering increasing adoption of the token and beginning to define 0xBTC as the standard for store of value on the Ethereum network. Important Links Official Website White Paper Medium Post Explaining the Why and How of 0xBitcoin Reddit Thread with the Latest Miner Links for nVidia/AMD/CPUs 0xBitcoin’s CoinMarketCap Page Discord Server Ethereum EIP 918 — A Specification For A Standardized Mineable Token YouTube Video Explaining 0xBitcoin 0xBitcoin Github 0xBitcoin Block Explorer Overview For The Lava Network Public ETH/ERC20/0xBTC Donation Address Conclusion.
It is so amazing to be involved in the infancy of this cool project and extremely novel idea. Can’t wait to see what is next! I am sure our community will have new surprises soon. Contributors to this Document This document was drafted by several involved community members and in no way do any of the individuals below have any authority, control or governance with regards to 0xBTC. This is a 100\% community driven effort. Key Contributors: Crypturk, Bee Herder, JeffreyBlockWolf, Userbrn, Mikers, Blazehuntley If anyone would like to become more involved and help with the next community update or with any other initiative, please do so — anyone can get involved! Remember, this coin is all about the community!
Here is an update on what is going on with the Bitcoin Foundation elections. The Bitcoin Foundation polls are closed now! The Bitcoinfoundation.org has updated as follows: Voting for the Bitcoin Foundation’s two open industry board seats ended last night at 11:59pm EDT. CoinDesk examines the Bitcoin Foundation's recent attempt to launch a blockchain-based voting system and its impact on its latest election round. News Learn Videos Research. Trending. Binance ... The Bitcoin Foundation is holding an election for a vacant industry seat on the organization’s board of directors, according to a blog post put up on Tuesday. Industry Members are able to nominate an individual for a position on the board, and the elected member will join the current board members: Micky Malka (Ribbit Capital), Mark Karpeles (Mt. Gox), Gavin Andresen, Jon Matonis, Elizabeth ... As Shrem was currently serving a two-year board term set to end in December, a representative from the Bitcoin Foundation suggested the upcoming election may actually be a special election for the ... The Bitcoin Foundation is currently holding runoff elections for two of it’s board seats. One of these two seats is currently held by Gavin Andresen, but his term is expiring, and the other was held by Jon Matonis, until his resignation in October of 2014. The primary election actually happened between February 13th and February 19th, but none of the candidates obtained the 50%+ approval ... The Blockchain Association is a lobbying group of crypto companies, which was formed in 2018. It brings together exclusively companies American, in order to “promote American leadership within the industry”. Among the list of members are Ripple, the Stellar Foundation, Kraken, Grayscale, eToro, and until recently the exchange Coinbase. 👉...
BITCOIN BLASTING OFF!! 🔴 SEC Big News, EuroCHAIN - Programmer explains Ivan on Tech. Loading... Unsubscribe from Ivan on Tech? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe ... The foundation is initiated by Binance, the world’s largest cryptocurrency exchange by trading volume, headed by Helen Hai, UNIDO Goodwill Ambassador, in collaboration with Marie-Louise Coleiro ... Our show, The Gentleman of Crypto, is a daily live broadcast that explores the Bitcoin and cryptocurrency world. We discuss international topics, news update... Recording of our first online event which gathered 464 registered participants from 58 different countries, on April 17 2020. -- Speakers list We chose the speakers for this event based on their ... This video is unavailable. Watch Queue Queue. Watch Queue Queue Globals markets are falling and even #Bitcoin can’t seem to escape the sell off. Is the virus responsible or just a coincidence? Warren Buffet denies having BTC, Tim Draper still bullish for ... Binance cloud is here, According to the announcement from Binance, Binance Cloud will serve as an all-in-one infrastructure platform for customers and partners to launch digital asset exchanges ... Binance Charity, more commonly known as the Blockchain Charity Foundation. Is this charity really helping the world? Or does it have evil intentions? In today’s episode, part 1 in a 2 part ... Download Software: https://bit.ly/2VkzVzl Contact us if you need any further explanations: EMAIL: [email protected] ===== ⚠ Disclaimer: The Video Content has been made available for ... Bitcoin tip address: 1NE3iCRoUYbknyZYWWbaDhVAi2D3AyDvEi On May 9th 2014, Brock Pierce was elected to the Bitcoin Foundation Board of Directors. His election ...