FAQ

Frequently Asked Questions

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  • So eBitcoin (eBTC) is a Dapp platform on Ethereum, why do I need that in my life?

    There’s been a lot of discussion about the scalability of smart contracts or DApp platforms, but very few on how they would function as value preservation platforms. Unlike payment networks like Bitcoin, DApp platforms like eBitcoin provide security to not only their own native tokens, but the value of all crypto-assets issued/pegged on top of it (typically represented as “tokens”).

    The key requirement of a “Store of Value” asset platform is that the security it provides has to grow with the value of the assets it preserves. For example, if demand for owning a store of value on Ethereum grows rapidly, causing the value of the aggregated asset on the platform to grow a hundred fold, the security (measured by attacking cost) of Ethereum needs to grow along with it to provide adequate protection against attacks. Otherwise, there will be more attacks on the network to “double-spend” those assets, when the potential rewards rise if the cost were to stay the same.

    This requires the native tokens of a “Store of Value” asset platform to be a good value capture of its aggregated asset value. In other words, the demand for on-chain assets has to have a clear way to generate demand for the native tokens as an asset. The eBitcoin platform’s native tokens are designed to facilitate transacting with inherent cost-savings when using its batch-transfer functionality to perform large-volume transactions. This inherently provides a demand-use that will appreciate the value of the utility token over time, raising its value. For Ethereum, the intrinsic value of the Ether token is to pay for decentralized computation, therefore its price should reflect computational demand on the blockchain and the liquidity available in Ether tokens on the market to meet demand volatility. Platforms like eBitcoin don’t generate demand for more computation nor reduce Ether’s supply, therefore increased usage would have little impact on Ether’s price – maintaining a key value-proposition over time when utilizing the combined products and services of eBitcoin’s partners to simplify and secure all forms of transacting on distributed ledger technologies.

    eBTC (ERC20) is the most stable distributed ledger means of scaling in partnership with reputable industry leaders towards a completely closed-loop solution to financially transacting anything, anywhere.

    eBitcoin is a Community-led Initiative that is introducing a new token economic structure for multi-asset utility use and store of value platforms that will revolutionize finance, decentralized networks, and how you define value in the age of the 4th Industrial Revolution. Learn More on our eBTCx Platform Page!

  • How does eBTC (ERC20) under the eBitcoin Initiative differ from Bitcoin & Merchants/Businesses that accept/promote BTC?

    Bitcoin the platform is built on the concept of “proof of work” data that is expensive and time-intensive to produce but can be easily validated/verified. In Bitcoin’s case, proof of work is created through the process of “mining.” To mine a Bitcoin, a computer must complete a complicated algorithm, essentially going through the work of an extensive prime number calculation in exchange for some newly minted token. The algorithmic process is introduced economically as an inflation control measure and as an incentive (mining) to court a dedicated user-base. Bitcoin introduces this ideology which operates in a quasi-mental ponzi-scheme toying with notions of work & wage, wherein, the amount of work and cost to mine is so great the miner essentially is forced to stake until an influx of liquidity (new buyer) is entered into its relative market.

    Transactions are connected to a user’s Bitcoin address, which is stored on its general ledger, called a Blockchain. If that address is linked to a real identity, transactions can be traced back to the user; if it isn’t, they can’t. This relative anonymity makes the platform appealing for things like incognito purchases over the internet. A key component of Bitcoin’s blockchain is the fact that it is an open, distributed ledger. Through the distributed nature of this ledger, the transactions on the blockchain are verified by the consensus of every member, offering limited security and absolute trust without a third-party overseer.

    Merchants/Businesses acting as exponents for the Bitcoin platform find value in a controlled process of global transacting, wherein, historic price appreciation of BTC has yielded irrational gains – For example, Laszlo Hanyecz on the Bitcointalk forum paid 10,000 BTC for a couple of pizzas in 2010. Who in their right mind would ever transact something that nine years later could be and is worth $65 million – for pizza? Considering this example and the plethora of other illogical implementations of Bitcoin, as a scalable everyday utility value token, it does not pass muster.

    eBTC (ERC20) was built to be a utility token focalized on supporting a Community of global business leaders working in collaboration to build financial technologies and mobile applications that simplify and secure the global transacting processes to ensure minimal volatility, maximum security, and absolute trust within every platform process.

    Under the eBitcoin Initiative, partners, merchants, exchanges, and entrepreneurs share their unique technological capabilities that incentivize eBTC as an accepted means of utility payment while minimizing their shared operational costs. Learn More on our Eco-System Page!

  • How does eBTC (ERC20) differ from Bitcoin?

    Bitcoin, with its main characteristics of ever-booming, volatile prices and exorbitant transaction fees, is widely considered to be a store of value or what many stakeholders call ‘digital gold’. For these reasons, Bitcoin’s relevance as a currency for everyday use is expected to continue to decrease or be stringently monitored by regulatory agencies that its original benefits become null and void operationally, ending as anything more than a strict digital asset (who pays in gold?!).

    eBTC (ERC20) is intended to become a mainstream medium of exchange as well as a trusted hedge of value leveraging all the functionality that the Ethereum Blockchain has to offer.

    Compared to Bitcoin, eBTC (ERC20) is an environmentally-friendly alternative. Bitcoin will continue to be mined and this is expected to perpetuate as far out as year 2140. This means that enormous amounts of energy are and will continue to be expended to verify transactions and create additional Bitcoin for at least the next 100 years!

  • Why is Liquidity relevant to Ethereum and also the eBitcoin Initiative?

    Interventionism is in the DNA of the Ethereum network. Central authority intervention after the DAO attack created what is known today as Ethereum, and gave way to the continuation of the old chain Ethereum Classic. Ethereum implemented a Keynesian approach to market controls after that issue and now enjoys greater liquidity over Ethereum Classic at the expense of diluting every dollar of capital convertibility held at fiat entry/exit points that support it. Cryptocurrency liquidity is a major area of focus for the eBitcoin Initiative as this seems to be the core economic issue underlying regulatory concerns with digital instrumentation of global assets aside from the formal layers established in banking by the IMF and respective agencies, and AML & Identity Management.

    In many cases nowadays for a prospective tokenholder, it is necessary to go into Bitcoin; to buy Ether; to buy the next token. If none of the listed assets are liquid enough in terms of USD, and each layer is less liquid than the next, thus getting more investors without a MLM scheme will become self-evident as a problem. The lender of last resort in a fiat system is the respective nation’s Central Bank and there-above the IMF.

    The answer is not in allowing a digital amalgamation of traditional fiat liquidity systems. But rather, a controlled cooperative of financial and payment processing industry leaders behind an economic model that upholds Austrian economic principles within digital market operations. The eBitcoin Initiative’s approach to economic stability will resolve the totality of crypto-liquidity issues with the launch of its solution: the eBTCx Platform. Learn More about eBTCx Platform Here!

  • How does eBTC (ERC20) differ from Ether?

    Ethereum is eBTC’s parent platform and its “currency”, Ether, was created as a means to pay for the processes that allow its infrastructure to scale and transact ever-growing token operations. Even if Ether is exclusively used as a store of value or currency, it was not originally intended to be one and its economics leave it vulnerable when misused in operation (see question above).

    Since all transactions happening using eBTC are specific to its DApp (the unique consensus algorithm codified within eBTC), in the purest sense of the term ‘cryptocurrency’, eBTC has the potential to scale as a modern transaction means for everyday use. Like Ether, it may be used as a medium for faster and cheaper exchange and within some of the functionality DLT Consulting and eBTC LLC are building together, could defend itself as a store of value in the near term.

    The total supply of eBTC is capped at 21,000,000 and cannot be increased. Whereas Ether’s supply is much higher (over 100M) and is increased every day through mining, eBTC (ERC20) is immune to inflationary risks while yielding maximum savings to digital transactors with ever-growing eBTC payment use. Thanks to eBTC’s fixed supply, it is not, nor will it ever be subject to, an inflation risk. However, early adopters stand to gain from future demand for the limited supply eBTC (ERC20) token.

    Again, eBTC is as an environmentally-friendly utility payment token. Ether, however, continues to be mined which means that large amounts of energy are and will continue to be expended to verify transactions and create additional Ether at least until its network fully transitions to a Proof of Stake means of consensus.

  • Will eBTC (ERC20) always be a side chain on Ethereum?

    eBTC (ERC20) will always exist as a side-chain/DApp running on the Ethereum Network. When the smart contract was launched post-security audit, the keys to the contract were destroyed. No one can take your eBTC away; no one can modify supply; no one can maliciously modify the deployed contract.

    However, eBTC (ERC20) is our Community’s starting point as a global initiative and global platform focused solely on putting financial control back into the hands of those creating it: You. In partnership with DLT Consulting, eBTC LLC created the eBitcoin Initiative – a perpetual, collaborative engagement that anyone and any business can participate in by using our Single Sign-On (SSO) portal to levy the full functional power our Eco-System of Businesses, Global Communities, and Technologies that will save money, time, and provide maximal transaction security.

    After our SSO launch, the eBitcoin Initiative will complete development of its eBTCx Platform, which is designed as a separate closed-loop distributed ledger network providing absolute capital convertibility from supported currencies and stable-digital offerings to qualified entities and users. In tying eBTC (ERC20) and the eBTCx Platform together in terms of value, the eBTCx Platform integration into the SSO Portal will seamlessly provide Portal Users/Businesses a secure “layer” of price stability in all pegged assets. Initially, eBTC will be the only pegged asset to the Stablecoin of the eBTCx Platform.

    The eBTCx Platform will be designed to meet applicable regulatory requirements, and to support innovation around digital instrumentation and blockchain applications, globally. The eBTCx Platform isn’t just a solution to price-stability and instilling trust in digital instrumentation, but will scale to include Point-of-Sale Systems solving all inherent issues in transacting globally. The front-end is being designed to enable simple and fast access to everything you need as a budding entrepreneur to grow your business or to manage your financial assets as a Portal User. Learn More on the eBTCx Platform Page!

  • What is the Single Sign-On (SSO) Portal and how does it add value to the eBitcoin Initiative?

    The eBTC SSO Portal is a secure, native KYC-enforced application that consolidates every activity, product, service, and user that incentivize eBTC adoption together in a decentralized but controlled forum where creativity, community engagement, and productivity is fostered and can flourish.

    The multi-staged MVP Launch of the eBTC Portal will provide a registered user:

    * A native wallet to secure all of their crypto-tokens as well as connect their web wallet with their financial institution (limited availability in initial launch)
    * A secure verified in-portal Chat that contains a one-of-a-kind in-chat payment functionality
    * Access to exclusive partner and eBTC Verified User events/promotions
    * Direct Customer Engagement/Relations Mechanism for Portal Businesses and Users
    * Integrated Token Performance Metrics
    * Token Accepted Marketplace for Consumer Goods
    * A Single Verified Identity enabling Cross-Platform Access to Goods & Services
    There is so much more in-development to bring tangible value to our platform and Community. Register Now to Find out More!

  • Where can I currently use eBitcoin to pay for Goods and Services?

    In the developmental meantime, any store utilizing MyCryptoCheckout.com accepts eBTC as payment as well as MegaXstore.com. Once the complete MVP of the eBTC SSO Portal launches, businesses can simply register and integrate our custom API to begin accepting eBTC on their websites – or instantly and directly through their eBTC SSO Business Portal. Learn More about our Eco-System Here!

  • How is eBTC different from the plethora of copycats with the same name?

    Simply put, none of them have the proven industry relationships to entertain a scalable digital solution to asset management nor utility use application. All our bent around faulty pegs that expose all tied assets to the simplest of pegged exchange rate attacks. Furthermore, the legality of every other coin can be questioned as ONLY eBTC never raised a dollar in funding from its token operations nor portrayed itself as an ICO nor as anything other than a more scalable means of digital transacting compared to Bitcoin in a truly connected world.

  • Generally speaking, why are there token projects?

    In closing the biggest gap in public understanding about a token or crypto-based projects, we want you to know what we’ve learned studying the industry. Token projects launch as a means of capital acquisition to develop technologies. Where 99% of token companies fail is that they have no idea of the investor relations involved in managing publicly contributed funding (regardless of how) post-capital acquisition. Most aren’t even stacked with the basic legal knowledge to know from who and when one can even court funding. Additionally, we’ve discovered that token companies invest so much in management of the token to acquire an inflated sense of value, but then have no means of long-term liquidity to secure performance of a token-stake even during development periods.

    Thus, most projects fail to even deliver an MVP of their technology and more and more token project leaders are finding themselves in civil lawsuits post-project bankruptcy. Aside from stablecoins, Bitcoin, and maybe Ethereum, all projects on a chain are economically meant to facilitate capital acquisition to fund development of a project’s technology, which is generally why any token project exists; wherein, direct proceeds are exchanged by the project for token issuance. If this occurs at any time, the token project is typically considered a registered security regardless of operational use.

    eBTC (ERC20) has never raised any money for development – which is why developments have taken so long. A risky pursuit in the original eBitcoin concept, taking the time to allow community members to freely come together to develop use-case instances for eBTC, has finally paid off. In its initial showcase Partnership, eBTC LLC and DLT Consulting have entered into agreement to develop products around the Global Community of eBTC tokenholders and their affiliates who just want to see a cheaper, safer way of transacting come to fruition.

  • Is eBTC (ERC20) legal?

    Yes, eBTC is bi-annually reviewed by Legal Counsels on every continent where operations are active for consistent application with respective regulatory guidelines and is consistently deemed in legal opinion a non-ICO, fully distributed utility token - even more so than that of Bitcoin - and operates on a very versatile blockchain.

  • So the real question then is, can you use eBTC for something illegal?

    And to that we want you to know we are developing our eBTC SSO Portal to firmly resolve AML and KYC concerns and provide absolute clarity on user-portal activities for any and all verified governmental requests. In the same way you can choose to violate laws and use a car, a phone, fiat, etc in connection with an illicit activity, the possibility exists – but eBTC LLC does not condone and will aid in the prosecution of anyone tampering with or maliciously utilizing its products and services in such a way as to usurp financial laws or cause harm to others. Please Review our Terms of Service Here!

  • I have ideas, can i join eBTC to make them real?

    The eBTC SSO Portal is built to quantify our Community’s human capital and provide the means to turn it into tangible value, benefiting everyone involved. That means, it’s built to help you grow yourself, your finances, and improve your life.

    Joining our Community is as simple as registering and completing our KYC. From there, you will have access to everything we are building and offering the world.

  • How can the public trust that the team will not leave the project?

    The eBitcoin Initiative is managed by eBTC LLC, a private company, and therefore such investor-related concerns are not relevant to our developments nor company. The products eBTC LLC is building in conjunction with DLT Consulting are immutable and autonomous in operation requiring little to no human turnover to maintain operational efficacy. We’re building our technologies from the ground up to scale in relevancy with every passing day.

  • Is eBTC (ERC20) driven by an organization or a community?

    We’ve created the best of both worlds: a private company centered on meeting its Community’s needs. In this construct, we have a legal construct that provides transparency to tokenusers and partner businesses – enabling a traditional means of recourse and collaborative engagement that can be trusted and can scale into brick and mortar business operations.

  • Will banks use it? Similar to ripple?

    With the launch of our eBTCx Platform, Financial Institutions will find that we have left no stone unturned in providing the functionality their depositors want in the modern banking age. As we near closer to eBTCx Platform launch, an entire section within the eBTC SSO Portal will be dedicated to educating and showcasing how our collective developments irrefutably provide cost-savings to bank depositors and institutions combined.

  • Can we buy stock in eBTC LLC?

    eBTC LLC is a Limited Liability Company (LLC) and not a corporation, therefore, it does not offer stock options to the public.

    However, the eBitcoin Initiative’s mission is to bring businesses and stakeholders together to collaborate securely and freely in hopes of expediting creative developments and sharing in the profits collaboratively generated. In addressing this concern, the eBTC SSO Portal will have an Accredited Investor Registration and when/if options become available via DLT Consulting’s Portal Activities, those HNWI will be made aware of private placement offerings. If you qualify as an Accredited Investor, Register Now!