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Bitcoin Oil (BTCO)

ICO

Bitcoin Oil (BTCO) is a new cryptocurrency based on the original Bitcoin blockchain technology which will be launched in 2019. The implementation of the BTCO hard fork will create the technologically most advanced version of Bitcoin.

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Overview

Project industryExchanges & Wallets
Product typeMarketplace
FoundedSwitzerland

What is Bitcoin Oil

Bitcoin Oil (BTCO) is a new cryptocurrency based on the original Bitcoin blockchain technology which will be launched in 2019. The implementation of the BTCO hard fork will create the technologically most advanced version of Bitcoin.

The centerpiece of BTCO and its "Optimally Improved Ledger" (OIL) will be the highly innovative "SSPSS" strategy focusing on the development and implementation of essential Bitcoin improvements in the fields of Stability, Sustainability, Privacy, Smart Sidechains, and Scalability ("SSPSS"), including but not limited to key new Bitcoin blockchain features such as (i.) minimizing Bitcoin's volatility (i.e. by creating an incentives-based economy), (ii.) drastically reducing Bitcoin's insane energy consumption (i.e. by altering the consensus protocol to PoS), (iii.) implementing true privacy features (i.e. by enabling confidential transactions), (iv.) empowering Bitcoin based ICOs and STOs (e.g. by employing full smart contract functionalities), and last but not least (v.) developing cutting-edge scalability solutions (i.e. by complete integration of layer 2 protocols and offline transactions).

In this sense, it is very important to understand that Bitcoin Oil – unlike Bitcoin – will not have to follow the lengthy and protracted BIP procedures which make rapid change almost impossible. Contrary to that inhibitor of innovation, Bitcoin Oil has straight forward agreements in place with some of the largest blockchain and Bitcoin development companies in the world, which will be commissioned by us to build Bitcoin's 2019 BTCO fork and all subsequent improvements thereof.

Mass adoption is one of the main objectives of Bitcoin Oil's strategy, and in order to accomplish a meaningful market penetration rate, various key Bitcoin improvements can be considered mission critical in order to eliminate the following weaknesses and flaws of Bitcoin:

  • High price volatility and no reliable stability mechanisms
  • No intrinsic value and a lack of valuable coin holding incentives
  • Insane energy consumption and environmentally unfriendly
  • Very limited privacy protection and absence of anonymity
  • No smart contract functionalities and token creation features
  • Scalability problems and a limited amount of possible transactions
  • Slow confirmation times and inability to process quick transactions
  • Huge transaction fees leading to congestion in the network
  • Long-term security implications of its hashing SHA256 algorithm
  • Therefore, Bitcoin Oil has developed a whole range of Bitcoin improvements most of which we plan to implement in 2019 by the BTCO hard fork and ultimately lead to a new Bitcoin cryptocurrency based on Bitcoin's blockchain technology. Bitcoin Oil's in-house developers and engineers cooperate with some of the world's largest blockchain development companies enabling us to access hundreds of highly specialized blockchain developers in general and Bitcoin developers in particular who will jointly implement all forthcoming Bitcoin improvements for BTCO in a concerted action.

    The centerpiece of Bitcoin Oil and its "Optimally Improved Ledger" (OIL) will be the highly innovative "SSPSS" strategy focusing on the development and implementation of essential Bitcoin improvements in the fields of Stability, Sustainability, Privacy, Smart Sidechains, and Scalability ("SSPSS"), including but not limited to key new blockchain features such as (i.) minimizing Bitcoin's volatility (i.e. by creating an incentives-based economy), (ii.) drastically reducing Bitcoin's insane energy consumption (i.e. by altering the consensus protocol to PoS), (iii.) implementing true privacy features (i.e. by enabling confidential transactions), (iv.) empowering Bitcoin based ICOs and STOs (e.g. by employing full smart contract functionalities), and last but not least (v.) developing cutting-edge scalability solutions (i.e. by complete integration of layer 2 protocols and offline transactions).

    Details

    Public sales: Jun 20, 2019 - Jul 20, 2019
    Token supply: 5,000,000,000 BTCO
    Total tokens for sale: 3,000,000,000 BTCO
    Soft cap: 10,000,000,000 BTCO
    Hard cap: 102,000,000,000 BTCO

    Legal

    Blockchain Platform: Bitcoin
    Registration country: Switzerland
    Registration year: 2019

    Token info

    Ticker: BTCO
    Type: Cryptocurrency
    Token price in USD: 1 BTCO = 1 USD
    Accepted currencies: USD, EUR, CHF

    Bitcoin Oil Roadmap

    1
    November 2017

    Platform Idea
    The origin of Bitcoin Oil's blockchain platform idea. Development of the concept of our overall business plan.

    2
    January 2018

    Elaboration of Platform
    Elaboration of Bitcoin Oil's blockchain platform. Integration into a suitable legal model for various jurisdictions. Attracting internal investments from existing partners to pre-finance the initiative. Development of a pilot paper for circulation.

    3
    June 2018

    Internal Fundraising
    Attracting of further investments from existing partners. Preparation for Bitcoin Oil's company formations. Additional team building.

    4
    August 2018

    Attraction of Advisors
    Attraction of key international advisors. Further development of the Bitcoin Oil platform concept. Preparations for technical details.

    5
    September 2018

    Technical Details
    Development of partnerships for technical details. Agreements with key partners and partner companies. Development of more detailed briefing documents.

    6
    October 2018

    Preparing for ICO
    Formation of Bitcoin Oil's Advisory Board. Internal start of platform concept development. Begin of ecosystem specifications (involving partners). Attending key crypto events for strategic meetings.

    7
    November 2018

    Preparing for ICO
    Additional preparations for ICO. Engagement of additional legal advisors. Continue the concept development for the platform. Ecosystem specifications continuation (more partners involved).

    8
    February 2019

    Hiring Campaign
    Begin of Bitcoin Oil's hiring campaign to increase team. Signing LOIs with key blockchain partner firms. Adding more people to the Advisory Board.

    9
    March 2019

    Starting Private Presale
    Receiving additional funding as part of the private presale. The release of the first Light Paper. Building a developer alliance to support our developments. Working closely with highly specialized Bitcoin development companies.

    10
    May 2019

    Conducting Public Presale
    Launching the Public Presale of BTCOs. The release of the first white paper. Attending more crypto events and presenting to investors. Preparation for BTCO listings on cryptocurrency exchanges.

    11
    June 2019

    Launching ICO
    Conducting the ICO sale for BTCO. The release of the first technical yellow paper. Development of further Bitcoin Oil specifications. Definition of Bitcoin Oil integration with partner applications. More detailed briefings of functionality development.

    12
    Q2 2019

    Internal Beta Release
    Internal Platform Beta release. Internal Web Wallet and Mobile Wallet Beta versions. Working on the integration of feature releases. Continuation of an active development process. Continuing preparation for BTCO listings on cryptocurrency exchanges.

    13
    Q3 2019

    Hard Fork
    The launch of Bitcoin's BTCO hard fork. Distribution of total BTCO supply to all coin subscribers. Conducting distribution of BTCOs to all BTC holders in connection with the hard fork. BTCO listings on various non-U.S. cryptocurrency exchanges. The release of the final version of the technical yellow paper. Further development of additional improvements.

    14
    Q4 2019

    Further Developments
    Additional development of more complex improvements. Involvement of specialized partners to develop certain features. BTCO listings on additional non-U.S. cryptocurrency exchanges.

    15
    Q1-Q4 2020

    Implementation Additional Features
    Introduction of our peer-to-peer micropayment platform. Presentation of our integrated e-commerce solutions Implementation of additional and more complex new features. Further development of additional improvements.

    16
    Q1-Q4, 2021

    Further Developments
    Implementation of additional and more complex new features. Further development of additional improvements.

    Project team

    Donald H. Goree
    Donald H. Goree
    Chairman & C.E.O
    Donald W. Orr
    Donald W. Orr
    President
    E. Frank Hill
    E. Frank Hill
    Chief Operations Officer & Director
    R. Lloyd Ross, Jr.
    R. Lloyd Ross, Jr.
    Director & Chief Financial Officer
    David M. Smith, Esq.
    David M. Smith, Esq.
    Oil and Gas Legal Counsel
    Michael Martin
    Michael Martin
    Land Manager of Bitcoin Oil Inc.
    Hannah Paddock
    Hannah Paddock
    Chief Marketing Officer
    Dr. Ian Wingfield
    Dr. Ian Wingfield
    Chairman of the Board & C.E.O
    Donald C. Winfrey
    Donald C. Winfrey
    Director

    Advisors

    Joseph Mei
    Joseph Mei
    Esq. Chairman of Board of Advisors
    Professor Cary E
    Professor Cary E
    Wolfe
    Diego Rojas
    Diego Rojas
    Bryant Mook
    Bryant Mook
    Cory Weisman
    Cory Weisman
    Clayton Hayes Goree
    Clayton Hayes Goree

    Social media

    Bitcoin Oil web-siteBitcoin Oil RedditBitcoin Oil MediumBitcoin Oil TelegramBitcoin Oil LinkedInBitcoin Oil TwitterBitcoin Oil FacebookBitcoin Oil Github

    User rating:

    5/5 ( 1 )
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