General Introduction of BitConnect coin
BitConnect coin is an open source, peer-to-peer, community driven decentralized cryptocurrency that allow people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on investment.
BitConnect coin can be bought and sold both online and offline. However, the most popular way is to exchange them on crypto currency sites where you can buy, sell or exchange BitConnect coin for another digital currency or fiat money.
What is the Initial Coin Offering for Bitconnect Coin ?
The ICO will run for approximately 46 days beginning November 15, 2016 at 11:00:00 GMT and ending on December 31, 2016 at 17:00:00 GMT. After successful BitConnect coin ICO, BitConnect will release the BitConnect coins to the Bittrex and to users who bought coins from BitConnect directly, and open the market for trading.
This pre-sale will be hosted by the Bittrex exchange, one of the largest cryptocurrency exchanges in the USA and by the Bitconnect itself.
A maximum of 4.8 million BCC (BitConnect Coin) will be sold in the ICO, representing approximately 17% of total BCC (28 million BCC). Remaining BitConnect coin will be issued by Pow/PoS block reward.
BitConnect Coin website : www.bitconnectcoin.co
BitConnect Community website : www.bitconnect.co
Bitconnect Coin Specification
Coin Abbreviation : BCC
Maximum Coin Supply : 28 Million
Coin base maturity : 50 blocks
Total PoW block : 262800
PoW block reward : 10 BCC
Block Spacing : 2mintus
Minimum Stake Age : 15 Days
Maximum Stake Age : 90 Days
Github : https://github.com/bitconnectcoin/bitconnectcoin/blob/master/README.md
Bitconnect Coin Distribution
Currencies used : Bitcoin
Total Pre-sale : 4.8 Million (After pre-sale of premined 4.8 million BitConnect coin, PoW/PoS algorithm will work to issue new coins to BitConnect coin miners and BitConnect coin holders.)
Pre-sale at Exchange site : 2.4 Million
Pre-sale at BitConnect : 2.4 Million
The Bitconnect Coin will be tradeable on Bittrex and poloniex following the pre-sale.
November 15th to November 25th – 1400 Coins per BTC (40% Bonus)
November 26st to December 5th – 1300 Coins per BTC (30% Bonus)
December 6th to December 15th – 1200 Coins per BTC (20% Bonus)
December 16th to December 25th – 1100 Coins per BTC (10% Bonus)
December 26th Onwards – 1000 Coins per BTC (0% Bonus)
Any coins not sold by the end of the 46-day ICO period, including bittrex, will be held by BitConnect and their uses will be as follows:
Technology Build, Maintenance, Upgrades
Marketing, Community Development
Bounties & Incentives
Holding for future development
Within 5 days of a successful ICO, BitConnect will release the BitConnect coins to the Bittrex and to users who bought coins from BitConnect directly, and open the market for trading.
How are they used?
The BitConnect coins are used by bitconnect community members for bitconnect services and to store and invest the wealth in a non-government controlled currency. The BitConnect coins will also be used as payment system on number of BitConnect partner websites.
How are Bitconnect Coin produced?
BitConnect coin uses a special algorithm called the POW/POS to secure the BitConnect Coin network. The moment you acquire BitConnect Coin it becomes an interest bearing asset with 120% return per year through PoS minting. All you have to do to earn with this method is to hold coins in your Bitconnect-QT wallet. In addition to PoS minting, BitConnect coin can be mined with CPU/GPU and does not need an ASIC miner like Bitcoin does.
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