[ANN][BITCAR] BitCar Token Sale: New Exotics Peer-to-Peer Trading Platform***

[nuno12345]

Luxury car startup BitCar has revealed what you do when you initial coin offering doesn’t raise as much as you’d hoped.

The company, which is developing a Blockchain platform that offers cryptocurrency payments for fractional ownership of collectible car brands like Ferrari, launched an initial coin offering last year with plans to raise $25 million at the start of the year.

Punters could buy BITCAR tokens, with the business aiming to be the main cryptocurrency used in the auto sector.

The Bitcar platform would let investors pay by cryptocurrency for a slice of luxury vehicles, which the business planned to buy on their behalf and then hold for around 15 years, until they appreciate enough to sell.

The Australian business set up in Singapore for regulatory purposes and raised $S6.5 million in its token pre-sale

Its public sale netted just under $S3 million – bringing the total raise to $9.5 million earlier this year – less than half of the goal.

One token was worth US10c. According to Coin Gecko, it was trading for AU1.2c on Friday.

Bitcar management told Stockhead the smaller raise amount saw the company re-assess.

“Due to the smaller raise, BitCar have decided to burn unsold tokens from the ICO –– thus reducing the circulating and total supply,” the company said.

This means they’re essentially getting rid of the excess and improving the scarcity of the tokens they did sell.

The founders also said they planned to burn 50 per cent of their allocated tokens.

Despite the company not hitting the raise target, they’ve still got more than $9 million in cash and cryptocurrencies in the piggy bank to be used on developing their luxury car fractional-ownership platform.

Where are they up to?

“The BitCar Platform is currently undergoing development to be updated to a decentralised platform, users will be onboarded when the platform is live so we will be receiving metrics on user data then,” the company told Stockhead.


Read full article here: https://stockhead.com.au/tech/bitcar-ended-up-raising-9m-in-its-25m-ico-heres-what-its-been-doing-since/

[BitCar.io]

I joined this idea. I'm interested to watch how the developers realize the idea.
 Good luck fellows!

Thanks for your support Michael!

[BitCar.io]

BitCar Token Burn to be commenced today 31/07/2018 at 3 PM (Singapore time)

Ladies and Gentlemen, start your engines. The BitCar team are ready to burn some tokens! The community will see on the blockchain from the BITCAR Token Contract an amount of 151,577,871 BITCAR being burned forever! These being the unsold token from the Token Sale earlier this year.

What Is A Token Burn?

A token burn for cryptocurrency ventures means sending the tokens to be burned to a public address, from which those particular tokens can never be spent because the private keys of such an address is unobtainable.

Why might this be done? There are multiple scenarios where this might arise. For BitCar the reason for destroying the unsold tokens from our token sale is to balance the total supply of tokens, especially to maintain fair-play for purchasers who purchased early in support of our project.

[nuno12345]

BitCar Token Burn has commenced

BitCar successfully burnt a total of 151,577,871 tokens during the scheduled token burn on the 31st July. Approximately 60 per cent of the initial public sale amount of 250M tokens have been burned, significantly reducing the number of coins in circulation.

Read the full article here: https://medium.com/@bitcar/bitcar-heats-up-with-successful-token-burn-b6693824bc3b

[nuno12345]

Hello BitCar enthusiasts.

Today we present you with some of the technical challenges that we and many other blockchain projects currently face. We are looking for your innovative and clever ideas!

With this new series of blog posts, we hope not only to engage in the process of becoming more transparent about what we are doing but also to get some positive feedback from the community. Hopefully, we can then learn about, and share some clever ideas on how to solve some of these common Blockchain / Ethereum decentralized technical challenges.

Problem:

As some of you may be aware, the Car Token (tokens representing a particular Platform Car) will have a fixed supply and will be pegged to a fiat currency on a 1:1 ratio, i.e. say a Ferrari worth USD 1 million comes onto the BitCar platform, then it will get 1,000,000 of its own Car Tokens, unique to that car. This means that when these Car Tokens are bought, using some of the post 31 July 2018 token burn’s 111,485,497 circulating supply of BitCar tokens (these are different from the Car Tokens), a conversion needs to happen in order to calculate the right number of BitCar tokens per Car Token. The problem is how to cheaply and quickly get external BitCar token price data onto the Ethereum blockchain. Ideally, a solution would be available that is not only cost effective but also truly decentralized. Currently, we don’t see a strong one, do you?

Solutions:
Read full blog post here: https://medium.com/@bitcar/bitcar-developers-are-seeking-community-feedback-bitcartec-4fd80a64d8e0

[kriptomak]

from the project did not quite understand what to what. Is it true that the owner of a certain stake. tokens bitkar, has this part on the possibility of temporary possession of the car, how and when and the main thing how much to have, so that you can take advantage of this?

[freemind1]

In telegram they begin to erase the messages that give their opinion about how the team is doing things. You are all warned of the path they are taking.

[kriptomak]

In telegram they begin to erase the messages that give their opinion about how the team is doing things. You are all warned of the path they are taking.

Sadly, when they start using the opportunities of different social networks for moshic actions, as soon as it starts to show itself, it is likely that the Khan is a project.

[doducanh1]

I'd love to join the signature bounty of this project

[DenysM]

BE CAREFUL Scammers / SCAM ICO

MAKE A REPORT IN THEIR TELEGRAM. I hope their group will be banned

[bongbong2014]

 Over the last year BitCar has been testing its platform and will be further developing and transforming it into a decentralized trading platform for Exotics. The fact that the token will be backed up by real assets - that is cars, can make it act as a "stable coin". This provides relative protection in times of crypto volatility. They even provide stats and data, which suggests that in the exotic car market some of the vehicles may even grow in value over time, making the coins worth more also.

[kriptomak]

if they start to fight this way, this is not a very good indicator, although many admins, simply banyat for different questions or statements, and then in fact we see that the project is quite viable.

[freemind1]

I hope they do not just dedicate themselves to welcoming telegram to new users and doing something for the good of the investors and the project itself.

The idea and the project are good by themselves, I hope the team is up to the task.

[kriptomak]

I hope they do not just dedicate themselves to welcoming telegram to new users and doing something for the good of the investors and the project itself.

The idea and the project are good by themselves, I hope the team is up to the task.

Yes, you look at many projects when joining the group, srzau is greeted, and then there are no answers to the questions about the week, here you are and greetings. This is a very good indicator for the project.

[freemind1]

The problem as always is the lack of communication with the community, the ICO ended more than 4 months ago and the only thing they say is that they are creating the platform.

[freemind1]

Bitcar delayed the launch of the platform until next year? 10 months after the ico began, it seems that the only thing they have done has been to raise money.

[BitCar.io]

BitCar General Update

Hi everyone; apologies for not being on this forum in recent times.

Our survey showed that not many people were drawn to this communication source (3/46 respondents), so our attention has been elsewhere - although we will come here and check from time to time, please follow us on Twitter, checkout our Blog posts, or come and chat with me directly on our Telegram group, I aim to answer every question as they come in.

We understand that there have been some frustrations shown by the community in relation to the price drop since the ICO and some saying there is a lack of information; I hope that this viewpoint is changing with our regular blog and platform updates - please engage with us to help us build the best platform we can.

The price point is not a major concern at this stage; the concept of BitCar was never going to be a get rich quick scheme, we are looking at medium to long term investment to generate a stable coin, backed by a real asset - of which we have our limited edition Ferrari as the first car on the platform. We expect the price to change once the platform is launched, along with some additional ideas to promote some trading pre-launch that we are formulating details around at the moment.

For now, please check out our latest technical update and please provide some input into our car-card designs.

• Fade
• Box
• Modern
• Slide

Thanks,

William Foster
Chief Product Officer, BitCar

[freemind1]

I believe that it is important to be close to investors, not only in telegram or twitter, in all possible places. Thanks for the update.

[BitCar.io]

https://go.bitcar.io/binanceprogress

[freemind1]

This morning I saw him on Twitter, congratulations on the process and I hope everything goes well. BitCar would have visibility as a pioneer platform that deserves.