Bitcoin Unlimited Futures Used to Extinguish Debt of Leading Bitcoin Public Company
VANCOUVER, BC / ACCESSWIRE / April 6, 2017 / First Bitcoin Capital Corp (OTC PINK: BITCF), in a related party transaction paid off approximately $200,000 in debt utilizing Bitcoin Unlimited Futures, making the Company 100% debt free.
Bitcoin Unlimited Futures is one of the latest cryptographic creations of the company and rides on the rails of the Bitcoin Blockchain. Released by the Company as a means of allowing speculators to predict the outcome of the forthcoming hard fork of Bitcoin Core into two distinct assets, Bitcoin Unlimited Futures trades under the symbols XBU on the decentralized OMNIDEX and the Company’s subsidiary, COINQX.com as well as XB on the CCEX.com exchanges.
XBU or XB is not to be confused with competing efforts to presale actual Bitcoin Unlimited (BTU) prior to the hard fork, whereas in the case of XBU/XB our coin will not become BTU, instead, it will trade independently as a third currency. There is no relation of XBU or XB to the actual Bitcoin other than that it was created on and moves along the rails of the Bitcoin Blockchain using the Omni Layer Protocols.
BTU is trading at about half of the trading value of XBU/XB. Efforts by two competing exchanges to capitalize on the pending hard fork can be found here: http://coinmarketcap.com/currencies/bitcoin-unlimited/
Due to the ephemeral nature of XBU/XB, the Company’s creditor agreed to accept XBU at a discount from current illiquid market rates so that the company has paid 2,000 XBU/XT to settle this related party debt from its growing inventory of altcoins.
“Becoming debt free not only strengthens our balance sheet but is an important milestone for a development stage company which positions the company for a more rapid path to profitability.”
The company is also conducting its first ICO (Initial Coin Offering) which is actively offered at a bonus to “early bird” participants. In order to participate in the company’s recently announced AltCoin ICO, kindly review further details at http://www.AltCoinMarketCap.com
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management’s experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company is developing several cryptocurrency related businesses and owns and operates the following digital assets.
www.CoinQX.com cryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.com real time cryptocurrency and bitcoin news site.
www.BITminer.cc providing mining pool management services.
www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.com Open Loop merchant services for dispensaries.
List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Follow us on Twitter @First_Bitcoin $BITCF
About BITCOIN UNLIMITED
The Bitcoin Unlimited (BU) project seeks to provide a voice to all stakeholders in the Bitcoin ecosystem.
Every node operator or miner can currently choose their own block size limit by modifying their client. Bitcoin Unlimited makes the process easier by providing a configurable option for the accepted and generated block size via a GUI menu. Bitcoin Unlimited further provides a user-configurable failsafe setting allowing you to accept a block larger than your maximum accepted block size if it reaches a certain number of blocks deep in the chain.
By moving the block size limit from the protocol layer to the transport layer, Bitcoin Unlimited removes the only point of central control in the Bitcoin economy – the block size limit – and returns it to the nodes and the miners. An emergent consensus will thus arise based on free-market economics as the nodes/miners converge on consensus focal points, creating in the process a living, breathing entity that responds to changing real-world conditions in a free and decentralized manner.
This approach is supported by the evidence accumulated over the past six years. The miners and node operators have until now been free to choose a soft limit which, as demand grew, has always been increased in a responsive and organic manner to meet the needs of the market. We expect miners to continue in this tested and proven free-market way by, for instance, coordinating to set a new generated block size limit of 2MB and reject any blocks larger than 2MB unless they reach 4 blocks deep in the longest chain. As demand increases, the limit can easily be increased to 3MB, 4MB, and so on, thus removing central control over the process of finding the equilibrium block size by allowing the free market to arrive at the correct choice in a decentralized fashion.
As a foundational principle, we assert that Bitcoin is and should be whatever its users define by the code they run, and the rules they vote for with their hash power.
Bitcoin Unlimited seeks to remove existing practical barriers to stakeholders expressing their views in these ways.
For more information, please visit www.bitcoinunlimited.info
Certain statements contained in this press release may constitute “forward-looking statements.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company’s filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.Such forward-looking statements are risks that are detailed in the Company’s filings, which are on file at www.OTCMarkets.com.
SOURCE: First Bitcoin Capital Corp.
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