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!
IS REALCASINO? WHAT IS REALCASINO?
PROBLEMS PROBLEMS WITH LEGACY ONLINE CASINOS:
They are expensive to run. A huge initial investment is required to build the platform and cover / insure bets. This means building an online casino is only an option for well-funded insiders.
They take a big cut of the profits. Legacy casinos typically run at 10% edge in order to recoup their investment and run at a profit.
They can’t be trusted. It’s impossible to be sure they aren’t cheating by delivering less than random results. On top of that, there’s always the chance they will disappear with your money!
PROBLEMS WITH THE FIRST GENERATION OF BLOCKCHAIN-BASED CASINOS:
They are slow. Transactions on a public blockchain like Ethereum take on average 30 seconds. This is simply unacceptable for players who are used to instant results.
They are expensive. Paying for individual transactions on a public blockchain has become prohibitively expensive.
They are boring. Even the newest blockchain-based casinos – the ones that have largely solved the problem of speed and cost - are not designed by online casino professionals so they don’t offer the entertainment that casino players have come to expect.
SOLUTION A REAL SOLUTION FOR THE CASINO MARKET:
High Speed Our platform does not require a request from miners for every spin. We are developing a custom blockchain that delivers random results in real time. This is the key for gaming – instant response times.
Low Cost RealCasino is a modular platform that enables the house to be decentralized. This eliminates the huge investment required to start operations, allowing the “house” to operate at much lower margins. Developers can build simple user interfaces that connect games & players.
Provably Fair Mathematically verifiable randomly generated events mean that casino players can finally rest assured that the house isn’t cheating them.
Escrow Funds are not held by a centralized entity, but rather enter into escrow via a smart contract making it impossible for the house to run off with your money. Players simply deposit, wager and withdraw.
KYC The mass market expects but doesn’t like KYC (know your customer) procedures. KYC attached to a users ETH address allows the player to play with minimal effort.
Entertaining and Mobile RealCasino is run by online casino professionals with over a decade of experience. We know how to bring real entertainment that online casino players have come to expect. Our gaming platform goes beyond desktop computers, bringing the best, most exciting games wherever you go with Mobile Live Casino.
PRIMARY FEATURESOF REALCASINO PRIMARY FEATURES OF REALCASINO RealCasino is a cryptocurrency powered and distributed globalcasino that utilizes blockchain and smart contracts to deliver a truly fair gaming platform.
Our mission is to utilize the decentralized power of smart contracts to provide a global casino platform that delivers the games that players typically expect (slots, table games, dice and Live Games) while providing the ultimate transparent gaming experience in real time (consumers are not prepared to wait more than a second or two for a game result).
We achieve this by deploying a network of up to 1,000 nodes that deliver hardware generated random numbers.
The smart contract randomly selects a node to deliver the result and the host of the node is remunerated a small fraction of the transaction.
SPEED The public blockchain delivers safe, transparent transactions, however Ethereum transactions typically take 7 seconds. Clearly this is not acceptable in a gaming environment where the player expects instantaneous results.
TRUST Blockchain technology enables a mathematically provable trust, eliminating the need to rely on a centralized authority.
ENTERTAINMENT Entertainment is our number 1 focus. We believe crypto-casinos are a mass market product. To enable that, we are connecting real dealers, real games to the Blockchain and providing an infrastructure for global betting.
PUBLIC NETWORK Crypto-based casinos utilise the public blockchain for registration, deposits, events and withdrawals
INSTANT REGISTRATION Due to blockchain architecture, a player can register with one simple click and receive a wallet address for deposits and withdrawals.
DISTRIBUTED PLATFORM Our platform has the visual content and the transactions that a casino requires. We are not the house and do not take any risk on bets placed.
CASINO HYBRID INTERACTIVE PLAY SYSTEM «CASINO HYBRID INTERACTIVE PLAY SYSTEM» OR IN SHORT, «CHIP» IS THE CURRENCY AND UTILITY TOKEN ON OUR PLATFORM. Our platform is end to end “CHIP” with no leakage to fiat currency – players play with “CHIP” and all providers within the platform are remunerated with “CHIP”. “CHIP” can be refunded for local casino chips at any casino in the world. The player simply indicates to us the casino in which he wishes to play and the “CHIP” are converted for local play via our exclusive CHIP trading platform. We perform the KYC once and this is transferred across the blockchain securely to the casino.
TOKEN DETAILS Presale: July 25, 2018 – September 25, 2018 Tokens to sell: 1,305,600,000 CHIP Bonus program: 2% -30% determined by Whitelist position
Public Token Sale: September 25, 2018 – November 25, 2018 Tokens to sell: 2,572,800,000 CHIP
Token Usage: Registration, KYC, Gameplay, Deposit, Payments
Blockchain: Ethereum, ERC20
Token Ticker: CHIP
Initial Price: 1 ETH = 100000 CHIP
All tokens not sold through the token sale will be burned
Token Delivery Date: immediate
Token Distribution Free sale: 3,840,000,000 CHIP (80%) Team and founders bonus (with sale restrictions for 2 years): 480,000,000 CHIP (10%) Contributors and advisers: 480,000,000 CHIP (10%)
Intended Use of Proceed 35% Operational overhead 35% Software development 30% Market development Whitepapper
FOR BUSINESS: We have created a platform to effortlessly launch online casinos -in an instant.
This is a marvelous business opportunity for those who wish to host their own domain name and seize the moment of the new, profitable, and very soon, leading sector in the online world of gambling.
WHITE LABEL PLATFORM ATTRIBUTES • A reliable, expandable, and adaptable casino solution • Quick setup process - typically 1-2 days for a fully functioning domain • Fast distribution • Fast ROI (Return on Investment) • High security
FOR PLAYERS: We are very proud to say that our ‘Noise Nodes’ patent pending technology is totally unique and a global first for the crypto casino industry.
We offer an HD quality live dealer experience that is blockchain RNG powered. Our platform takes the real video and visualizes the results from DAO-based events.
This will work over all devices, all the time, and in the most entertaining ways possible. From this moment in online history, crypto-casino players can fully audit and trust the results. This is a huge breakthrough in the casino world.
FOR PLAYERS: Our technology can act as a bridge between the old world and the new. The player can continue to play at his favourite table once he leaves the casino. The local casino simply has to install a ‘LiveNode’ and they can stream the table to the player for continued play and revenue.
Ultimately the land-based casinos will evolve into crypto-based resorts using blockchain technology, but we see this as a circa 10 year transition and during this transition period we will facilitate the connection between the old world and the new.
This synchronistic programme will allow us to grow the player base rapidly as the casinos transit toward the virtual gaming world – something already occurring. Adopting our technology will assist in the attracting of players from both the crypto world and the conventional casino player.
OUR PLATFORM PROVIDES • Comprehensive back office. • Branding Engine. • Odds & risk Management – especially valuable for Sports Book elements. • 100% Blockchain hosting and powered - no need for server infrastructure.
REAL CASINO’S BLOCKCHAIN GAMES ARE LIVE! REAL CASINO’S BLOCKCHAIN GAMES ARE LIVE!
TEAM An international team with extensive R&D experience and a proven track-record managing a high-tech, global businesses.
David Wainwright FOUNDER & CEO Stevie Kennedy CPO Andrew Dermugin CHIEF ARCHITECT Danjel Bugeja HEAD PRODUCTION Betania Sanchez HR MANAGER Steve Thornton COMPLIANCE ADVISER Pavol Bujna DEVELOPE IT MANAGER Alex Yurevich DEVELOPER Vladimir Terekhov DEVELOPER Graham Stone CONTENT MANAGER Sara Bouallou SENIOR PRODUCER Sandeep Nailwal DEVELOPER ROADMAP ROADMAP January, 2015 Project started as www.satoshiplay.com
- Bitcoin Casino. June, 2015 Established Development office in Kyrgystan. January, 2016 Launched RealCasino. February, 2017 License & Integration on iGaming platform. November, 2016 Preview at SIGMA. August, 2016 Real players. April, 2017 License agreement with Golden Race. May, 2017 Completion of games that use video results and provably fair random numbers to deliver a live experience that is powered by the blockchain. June, 2017 GLI & MGA certification. December, 2017 Launch of Live 24/7 Live lottery BET ON NUMBERS. November, 2017 Exhibiting at SIGMA. October, 2017 Soft launch of the platform. May, 2018 25th May start of private pre sale. July, 2018 25th July: Start of Public Pre-Sale September, 2018 25th September ICO Launch. - Real world Bridge - Live streaming from land based casino. December, 2018 Official Public release. November, 2018 Alpha release RealCasino using CHIP currency. EXCHANGE LIST Binance Huobi Kucoin Bibox Qryptos Satoexchange BIGone Bitrue Bilaxy Bit-Z Linkcoin SECURE WALLET Ledgerwallet Trezor
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