[♔] British Digital Currency | 5% annual PoS - Bittrex - Fiat to BritCoin [BRIT]

[vipin.khatri20]

Dev I have few questions for you, if its possible for you to answer  

How does this FIAT to britcoin works, how is exchange rate set and what if someone wants to sell? and how will the exchange rate be set in case of selling?

Thanks

[1714110866]

1714110866

[1714110866]

1714110866

[pawlo74]

Dev I have few questions for you, if its possible for you to answer  

How does this FIAT to britcoin works, how is exchange rate set and what if someone wants to sell? and how will the exchange rate be set in case of selling?

Thanks

For those who didn't see on our Twitter here's a sneak preview of our upcoming Fiat > BritCoin exchange platform.

https://i.imgur.com/VpkD7P0.png

We're hoping to launch it for public use Friday if not early weekend.

The 'exchange' is going to be a bank-to-bank transfer?

Who is on the other side of the trade sending the Britcoin to the buyer?

EDIT: Or is this bank transfer into the exchange platform?

Good question.

At first it will be bank-to-bank with me personally running it.  Once the system is tested in a live environment I will be looking at implementing a system where users can apply to become sellers, giving the end user a competitive price and better service.

Once the platform is launched, the price of the Brits in GBP will be calculated based on how much it will cost me to buy the same amount of Brits sold on the Bittrex buy wall in BTC.  This will (hopefully) help give us a steady price increase because I will be buying at the ask price and eating up the sell wall.  Please keep in mind that I am selling my own personal coins that I have mined and bought myself. I really don't want to sell my Brits at the current price so I have to ensure that the amount that is charged is enough to cover the cost of rebuying the same amount of coins on Bittrex.

Hope this helps.  Let me know if you have any other questions.

[numanoid]

Damn, 1K came and went fast.  Was hoping to drop a little off to break even then ride the wave of the future on free money.

Ah well.  Have some sells in the 900-1000 and we'll see if we stick around here or move up or down. 

You all can thank me for the move up.  Was playing with a 20K block and bought at 180, sold at 300ish and was going to day trade it while the price moved up and down.  Of course I sold at 300 and now it's 7-800.

You're welcome!

[Pebbelzz]

Damn, 1K came and went fast.  Was hoping to drop a little off to break even then ride the wave of the future on free money.

Ah well.  Have some sells in the 900-1000 and we'll see if we stick around here or move up or down. 

You all can thank me for the move up.  Was playing with a 20K block and bought at 180, sold at 300ish and was going to day trade it while the price moved up and down.  Of course I sold at 300 and now it's 7-800.

You're welcome!

Need to warn us next time, I would have loaded up more before you did this

[numanoid]

Damn, 1K came and went fast.  Was hoping to drop a little off to break even then ride the wave of the future on free money.

Ah well.  Have some sells in the 900-1000 and we'll see if we stick around here or move up or down. 

You all can thank me for the move up.  Was playing with a 20K block and bought at 180, sold at 300ish and was going to day trade it while the price moved up and down.  Of course I sold at 300 and now it's 7-800.

You're welcome!

Need to warn us next time, I would have loaded up more before you did this

An alternative theory was that I was lucky enough to see Sir Paul McCartney last night and his Brit presence caused a nice run up for me.  Hell of a show.  Serious bucket list item crossed off (but I want to see him again!)

[vipin.khatri20]

Dev I have few questions for you, if its possible for you to answer  

How does this FIAT to britcoin works, how is exchange rate set and what if someone wants to sell? and how will the exchange rate be set in case of selling?

Thanks

For those who didn't see on our Twitter here's a sneak preview of our upcoming Fiat > BritCoin exchange platform.

https://i.imgur.com/VpkD7P0.png

We're hoping to launch it for public use Friday if not early weekend.

The 'exchange' is going to be a bank-to-bank transfer?

Who is on the other side of the trade sending the Britcoin to the buyer?

EDIT: Or is this bank transfer into the exchange platform?

Good question.

At first it will be bank-to-bank with me personally running it.  Once the system is tested in a live environment I will be looking at implementing a system where users can apply to become sellers, giving the end user a competitive price and better service.

Once the platform is launched, the price of the Brits in GBP will be calculated based on how much it will cost me to buy the same amount of Brits sold on the Bittrex buy wall in BTC.  This will (hopefully) help give us a steady price increase because I will be buying at the ask price and eating up the sell wall.  Please keep in mind that I am selling my own personal coins that I have mined and bought myself. I really don't want to sell my Brits at the current price so I have to ensure that the amount that is charged is enough to cover the cost of rebuying the same amount of coins on Bittrex.

Hope this helps.  Let me know if you have any other questions.

Yeah it helped. Thanks.

[sdersdf2]

Is this coin another pump-and-dud, or are there serious dev plans for it?

[will7am]

Is this coin another pump-and-dud, or are there serious dev plans for it?

I can assure you BritCoin is not another pump-and-dump coin, if you take the time to read the whole thread (yes it's quite long  ) then you'll see that for yourself.

We launched just over 5 weeks ago and in that time we've been added to multiple exchanges including Bittrex, published in the 'International Business Times' and recently launched our Fiat > BritCoin exchange platform etc.  You can also take a look at our July whitepaper for more details about BritCoin, which can be found in the OP.  We'll also be releasing our August whitepaper in the coming days which details our future dev and promotion plans.

I'm sure our users will vouch that BritCoin is the opposite of a pump/dump coin, we have great long term plans and exciting developments coming up..  I think we've proven that we're here to stay.

[Soul_eater_123]

The first alt-coin that can have an app like blockchain.info for BTC would have a massive advantage in terms of commercial adoption and utility.  Does anyone know how feasible it would be to create something similar for Britcoin?

[will7am]

The first alt-coin that can have an app like blockchain.info for BTC would have a massive advantage in terms of commercial adoption and utility.  Does anyone know how feasible it would be to create something similar for Britcoin?

Now that would be really interesting, I think it would take quite a large investment to get a bespoke app like that developed though..  But it's something I think will help BritCoin grow substantially so it's something we really should look in to doing in the mid-long term.  We're going to be launching a kickstarter campaign at some point this month, so that could be one of our big dev projects to use the funds on.

[Soul_eater_123]

The first alt-coin that can have an app like blockchain.info for BTC would have a massive advantage in terms of commercial adoption and utility.  Does anyone know how feasible it would be to create something similar for Britcoin?

Now that would be really interesting, I think it would take quite a large investment to get a bespoke app like that developed though..  But it's something I think will help BritCoin grow substantially so it's something we really should look in to doing in the mid-long term.  We're going to be launching a kickstarter campaign at some point this month, so that could be one of our big dev projects to use the funds on.

Might be worth contacting Blockchain.info and finding out if they have any altcoin plans.

[will7am]

The first alt-coin that can have an app like blockchain.info for BTC would have a massive advantage in terms of commercial adoption and utility.  Does anyone know how feasible it would be to create something similar for Britcoin?

Now that would be really interesting, I think it would take quite a large investment to get a bespoke app like that developed though..  But it's something I think will help BritCoin grow substantially so it's something we really should look in to doing in the mid-long term.  We're going to be launching a kickstarter campaign at some point this month, so that could be one of our big dev projects to use the funds on.

Might be worth contacting Blockchain.info and finding out if they have any altcoin plans.

Hmm, very good point!   Will get in touch with them now, thanks mate.

[Soul_eater_123]

Whist we're waiting for the marketplace to be finished I thought I might get started making a subreddit where people can get started trading things for Britcoin.  Here's the subreddit:

http://www.reddit.com/r/britcoinmarket/


Here's my post:

http://www.reddit.com/r/britcoinmarket/comments/2cluqp/2_x_sapphire_amd_280x_gpus_w_boost_for_sale_72k/

Hopefully this will be a start to adding some real utility to Britcoin.  Please add your own items to sell there:)

[will7am]

Whist we're waiting for the marketplace to be finished I thought I might get started making a subreddit where people can get started trading things for Britcoin.  Here's the subreddit:

http://www.reddit.com/r/britcoinmarket/


Here's my post:

http://www.reddit.com/r/britcoinmarket/comments/2cljdf/2_x_amd_280x_saphire_graphics_cards_2_months_old/

Hopefully this will be a start to adding some real utility to Britcoin.  Please add your own items to sell there:)

Well done!   I will add it to the OP under the links section.  Will also have a look around to see if I have anything worth selling.

[Nxtblg]

Britcoin...hmmm. Intriguing.

[will7am]

Britcoin...hmmm. Intriguing.

[Nxtblg]

Britcoin...hmmm. Intriguing.

Nice! Intriguing enough for me to buy >25,000 at Bittrex - at the ask. Got in for a little less than 950 satoshis ea.

And since I'm a Mick of the blood, one born, baptized and raised in the One True Superstition, a Mick who even Micks it up about his own Church in a BTT post , that says something.

[will7am]

New Facebook Competition:


Like our Facebook page then share our competition post for a chance to win 25,000 Brits!!

https://www.facebook.com/BritCoinUK/

Good luck lads!

[valth]

done

[gysca]

glad to see, finally this coin got attention again, 

this story remind me about VRC story, from begining until 2 month, no one see this coin,
but dev tireless hardwork and development,community support make this coin fly to the moon,

hope that story repeated in Britcoin.