Introducing Black Hat Token (BHTC) - The Internet Marketing Cryptocurrency
ERC20 Compatible Token - No-Reserve, zero pre-minted, 100% Open Source Token(*)
Symbol: BHTC
Contract Address:
https://etherscan.io/address/0x5f068a958e78bc84ed2e2d0d3b43e17792eBAD51Decimal places: 8
Initial supply: 0.00000001
Source Code:
https://github.com/blackhattoken/contractContract Owner:
https://etherscan.io/address/0x45d44d995285015c02a9e60c58dd8c1ed1535422-----------
HOW TO REDEEM YOUR BHTC
Each BHW user is entitled to a number of BHTC according to their standing on the BHW community.
The calculation is as follows:
NUMBER OF BHTC = (POST COUNT + POSITIVE RATINGS) * MULTIPLICATION_FACTOR
Where MULTIPLICATION_FACTOR = NUMBER OF YEARS ON THE FORUM + VARIABLE_RAND
Here, VARIABLE_RAND is a small random variation injected into the calculation so that third parties cannot later identify BHW users by reverse engineering their initial BHTC balance on the blockchain.
The complete formula is therefore :
NUMBER OF BHTC = (POST COUNT + POSITIVE RATINGS) * (NUMBER OF YEARS ON THE FORUM + VARIABLE_RAND)
To redeem your BHTC, you must authorize the request by posting
BHTC YOUR_ETHEREUM_ADDRESS
as your status on your BHW profile page (using the "Update your status" text box). If you don't do this the system will ignore your request. (You will not receive any notification that it has been ignored.) This authorization is needed to bar anyone from claiming funds on your behalf. (We also recommend you use a brand new Ethereum address for added privacy.)
Your status should remain visible, otherwise the BHTC robot will not be able to read your Ethereum address. You may delete or remove your status after your coins are received.
After updating your status, go to
https://BlackHatToken.com and enter your BHW profile page URL on the available text field and submit.
Example URL:
https://www.blackhatworld.com/members/YOURUSER.1234567890/(Substitute YOURUSER.1234567890 for your own BHW username.code.)
The process is automated so make sure the Ethereum address is correct and that it sits in a ERC20 compatible wallet (e.g. MyEtherWallet, Coinomi, Mist). Do NOT submit exchange deposit addresses from Bittrex, Binance and such.
If you send your tokens to a non-ERC20 compliant or to a exchange deposit wallet the tokens are gone forever and no one, not even the contrat authors, can rescue them.
The process is automated, there is no undo button.
This is the only way to redeem your BHTC, no exceptions. Please do not request support from the OP, as he is not capable of manually operating the token distribution.
Token distribution will begin at a date to be announced and will proceed on a first come first served basis.
If, at least 15 days have passed since token distribution began, you still did not receive your tokens, please check your BHW profile and make sure the <BHTC address> phrase is visible and resubmit your request.
Note: Resubmitting before we've had a chance to process the backlog will have no effect.
Commitment to total transparency: Tokens will be issued to BHW members from the Contract Owner address. You may audit all BHTC issued via this address. You may also verify that the Contract Owner's balance is equal to the initial supply - there is no reserve or pre-minted distribution.
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NOTES
- This is not an ICO, this is a free token generation event started by BHW members (read the FAQ for details).
- Initial supply is ZERO coins. Check the contract source code to be sure. Contract authors did not reserve coins for themselves.
- The first and only 0.00000001 BHTC transfer seen under the contract is the contract acceptance test.
- The contract owner address is public and can be audited by anyone at
https://etherscan.io/address/0x45d44d995285015c02a9e60c58dd8c1ed1535422- There is no formal relation between BHW and BHTC, except for the fact that the token originated from members of this community.
- The tokens are 100% decentralized. Nobody's in control. Check the contract source code if in doubt.
- This thread should be the central location for questions about BHTC. Let's not give the mods any more work than they already (gracefully) handle.
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FAQ
--- What is it?
BHTC is a ERC20 compatible Ethereum token designed especially for Internet Marketing related payments and settlements.
--- Who is behind BHTC?
BHW members created the initial BHTC contract. Nobody is in control of it after the contract was deployed. The contract is open source, self-enforcing and completely decentralized.
The token is not oficially sanctioned by BHW, and BHW has no responsibility at all concerning BHTC.
--- Does the contract author get a special amount of tokens like in a ICO?
No. The contract author currently owns zero BHTC and will redeem his/her tokens according to the same rules every other BHW member does (using the same system). There is no pyramid scheme like in ICOs and the contract creator did not reserve a few million for him/her self
This can be freely audited via the contract source code and contract transactions. There is no "genesis" transaction or reserve amount.
--- If the contract author does not make $ from this, then why was it made?
In the future, the official BlackHatToken.com website may display ads or provide BHTC related products and services.
--- I've submitted my information, how long does it take to receive my tokens?
The system is autonomous and the time to deposit is unpredictable. Your tokens will be delivered to your Ethereum address on a first come first served basis. The contract creator does not control this process once it has been started. Distribution has not started yet as of the time of this posting.
--- What is the total supply?
The total supply of BHTC is the total amount redeemed by BHW members. It is limited by the BHW reputation system itself.
In the public contract this number is tracked by the totalSupply public variable.
--- How can I increase the U$ value of my BHTC?
Once the BHTC is redeemed, it is fully autonomous and decentralized. So you are solely responsible for making your BHTC worth more! You can create Telegram groups, chat rooms, sub-Reddit's, websites to promote your tokens and so on. There is no one behind BHTC after it is redeemed, so making it more valuable is your own marketing mission!
Twitter seems to be the favorite cryptocurrency social network. Tweeting the $BHTC cashtag is a good way to bring attention to it.
Being included in big exchanges tends to increase the token value exponentially. You may organize voting groups to vote for BHTC inclusion in the major exchanges.
--- Where can I trade BHTC?
BHTC can be traded on EtherDelta (a fully decentralized token exchange).
https://etherdelta.com/#0x5f068a958e78bc84ed2e2d0d3b43e17792ebad51-ETHAny ERC20 compatible cryptocurrency exchange will also work.
Other exchanges are expected to add BHTC as it becomes widely adopted.
--- Who controls BHTC?
Nobody. There is no centralized entity.
Once tokens are redeemed by BHW members they become autonomous and can be moved around freely like any other ERC20 token. In other words, the tokens take a life of their own once redeemed.
The contract source code is published at
https://github.com/blackhattoken/contract and can be audited by anyone.
The contract is decentralized and permanent, so even if the early users and creator of the contract go away, the token still is decentralized and tradeable.
--- How can I use BHTC for Internet Marketing payments?
Any Ethereum ERC20 compatible wallet will work for accepting payments in BHTC.
www.MyEtherWallet.com seems to be a popular choice, but you can also use Mist, Coinomi and any other ERC20 compatible wallet. Payments are processsed using a small fee in GAS (Ethereum transaction cost) which is Ethereum-standard practice.
Warning: Sending your tokens to a non-ERC20 compatible wallet will destroy the tokens (they will remain in nimbo). This applies to any ERC20 token and is not specific to BHTC. This cannot be undone.
--- What is the value of one BHTC?
The value is determined by the markets. There is no central control. Users agree on how much BHTC they'll ask/pay for IM goods and services.
--- My BHW points have grown, can I redeem again?
No. Each BHW user can only redeem their BHTC once. The amount redeemed is their status snapshot on BHW at the time tokens are requested.
--- I submitted my BHW profile URL but my tokens still have not arrived.
If it has been over 15 days after you submitted, then make sure the BHTC <ETHADDRESS> line is visible to unlogged users on your BHW profile page. If it was not previously visible, then please make your profile public and resubmit your BHW URL at BlackHatToken.com
--- Is there a limited period when I can redeem my BHTC?
We recommend you redeem your BHTC as soon as possible. Once the tokens are minted, they are yours to keep and no longer in the hands of the contract issuer.
Initially there is no limit, but if for some unforeseen problem the contract owner is no longer available and you still have not redeemed, then it will be impossible to do it later on.
--- The contract owner can issue tokens. Isn't that a problem?
No. Most coins can be "mined" or "minted" in different ways and this is not a loophole of any kind.
The initial token issuance is based on the BHW reputation system. If the owner were to try and inflate their own tokens somehow, this would be easily detected via the public blockchain (BHW reputation points are limited).
There is an initial period in every cryptocurrency's life when it depends on the people who launch it, it's the bootstrap era (the coin cannot pull itself up by its own bootstraps).
Therefore we will safeguard the initial process to make sure it is 100% transparent and secure.
Once the tokens are redeemed, they are safe and decentralized and the contract author no longer can do anything to them.
The contract does not have a selfdestruct clause and ther owner cannot revoke the contract. It is therefore permanent for as long as the Ethereum blockchain lives.
Also the issuance system has been deployed in a serverless architecture and is 100% autonomous. Token issuance will end when the author dies or goes offline for good.
(So redeem your tokens ASAP! After redeemed they are 100% secure in your hands and no longer depend on anyone.)
--- What is the relation between BHW and BHTC?
None at all, except that BHTC was created by BHW members/fans and the very reliable and industry-tested BHW reputation points are the criteria for token distribution.
The BHW reputation system was chosen instead of attempting a ICO where the contract issuers would have had a initial amount (fine line between crowd funding and get rich quick schemes).
--- Why "Black Hat" Token?
The term "Black Hat" refers to *REAL* Internet Marketers!
BHTC is not related to "Black Hat Hacking" or other unrelated meanings of "black hat". This token is public and has no privacy enhancing features that make it suitable for anything shady.
We consider Black Hats to be the *real* money makers in Internet Marketing and BHTC is our cryptocurrency.
--- Can someone delete BHTC tokens? Are they secure?
BHTC tokens are as secure as the Ethereum system itself. The contract is permanent, nobody can delete or modify it, not even the contract authors.
(A user can burn their own tokens, which is the same as "spending the tokens on nothing". This is a feature of the Ethereum ERC20 standard and not specific to BHTC.)
If you keep your BHTC safe in a Ledger Nano S style device, or other secure cold wallet, they are as safe as any other cryptocurrency.
--- So where do I go now?
Go redeem your BHTC!
Cheers!
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LOGO BOUNTY
Create a cool logo for BHTC and receive $BHTC 15000!
To participate, please publish your logo candidate on this thread.
The BHW community will vote for the best submission. The logo with the most votes ("thank you"'s) will be adopted. There is no set date for logo votes to end. We will announce when the exact date when votes were frozen for the winner announcement.
Credit will be given to the designer via Twitter. The winner will also receive a 15k $BHTC bounty.
BOUNTY RULES
- Please do not copy the BHW logo, nor make it look like BHTC is in any way affiliated with BHW.
- The logo bounty winner must send an editable vector file along with a high quality raster to an email address to be appointed later.
- The bounty winner will submit a Ethereum address along with the files in order to receive the bounty.
