In our initial BitCash Transparency Report we mentioned that we wanted to inform our community about how the BitCash funds have been allocated during the previous quarter. As a reminder, BitCash did not hold an ICO, but did have a pre-mine of 9.7% and has a current block reward fee of 10%.
As of right now the pre-mine is intact and we have been operating solely from our founder’s own funding and the block fee.
Below is an itemized list of block reward fee spending during Q3.
- PeerQ Premium Domain: $2995 USD
- PeerQ Bounties: 10,000 BITC
- Videos: 32,200 BITC (Generated 17 marketing/promo videos)
- Professional PeerQ Article: $350 USD
- Graphics: 1200 BITC (Generated over 20 marketing/promo graphics)
- DumStream Sponsorship: 7500 BITC
- Monthly payments to our volunteers
- 0.1 BTC YoBit Application Fee (still pending)
- 0.4 BTC Graviex
We have identified PeerQ as a very strong asset for our project, as it is a seamless entry point into BitCash and can help facilitate mass adoption. With that being said, we are planning to keep the block reward as is and hoping to redistribute those funds into PeerQ bounties to allow for those who do not mine or trade a fair way to gain access to BitCash.
We will release the Q3 quarterly report within the first couple of weeks of October.
As a reminder, BitCash, as with most crypto, is a new and experimental protocol, so be cautious. There is no expectation of “profits” as this project is an experimental protocol. BitCash coins should not be considered as an investment in any way shape or form. BitCash software is open source and issued with no guarantees. By mining, trading, or acquiring BitCash by other means, you acknowledge that this is not an investment into a company or any such centralized entity.
BitCash Official Links:
Website — https://www.choosebitcash.com/
Bitcointalk ANN — https://bitcointalk.org/index.php?topic=5106123.0
Telegram — https://t.me/chooseBitCash