2020 Q1 Transparency Report

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Q1 was a unique quarter with the holidays, Covid-19 pandemic, and a dent in the economy, but we were able to implement a few new features and add a few new team members along the way.

Q1 Recap

Twitter Tipbot

The BitCash tipbot offers the typical functionality of most bots: check balances, generate address, withdraw, deposit, and tip. But, the feature that separates this bot from others is the ability to add an airdrop to your post to create more engagement.

It has been heavily used since it’s launch. Make sure to give it a follow. @BitCashTips. You can also read more about how the tipbot works HERE.

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Media Appearances

In January, we appeared on two popular podcasts in the crypto space to talk about BitCash. The Crypto Campfire Podcast has been voted one of the top 10 podcasts in crypto and Seth Estrada is on the more popular and knowledgeable YouTubers and podcasters in this space. You can listen here:

Crypto Campfire Podcast

Mineyourbiz Podcast

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Also, one of valued community members, LiteTiger, created a very well put together overview of BitCash.

Fiat -> BitCash Gateway

In late January, Thanks to InstaSwaps’s partner, MoonPay, users in Europe, the UK, South Africa, Canada, South Korea, Brazil, Hong Kong, United States of America and Canada can purchase BitCash and other currencies with Credit Cards and Apple Pay! The minimum deposit is at 50€, the daily maximum is 2000€ and the monthly maximum at 10000€. InstaSwap charges a very low 5.5% service fee. Read more HERE.

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New Team Members

We introduced a few new team members this quarter and they have already had a significant impact in a very small amount of time.

Our newest member, Root is a developer, who has implemented the BitCash Twitter Tipbot and is in charge of getting our PeerQ update off the ground this quarter. He is doing a tremendous job of posting updates and streaming his progress for our community to have the opportunity to input.

Cryptominer is a Discord Community Manager. Cryptominer has transformed the Discord room into a more user-friendly, intuitive place to come have fun and find information. Cryptominer brings a ton of experience of working with other projects.

Steve Borosh (rvrsh3ll) is a professional penetration tester and will provide dev assistance.

Shortfella will be our new Telegram Community Manager and will assist with Social Media Marketing. He also does some marketing work for the project WebDollar.

Cedar rapids is a Web Developer/Designer with over 15 years’ experience and his focus will be assisting with the all dev work and website development.

Partnerships & Collaborations

One goal during this quarter was to work with a few other projects in the space. First we partnered with Pexa, because Ryan has many aspirations that synergize well with Christian’s and BitCash’s vision of creating a more user-friendly, simplistic cryptospace. With this partnership you will be able use BitCash as a payment option for Pexa’s revolutionary mining pool hosting service. Ryan Hein, lead developer of Pexa, will also serve as a guest developer for BitCash. You can read more about our partnership with Pexa HERE.

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Next, through our relationship with Cryptominer, we collaborated with MoneyByte. This collaboration with Moneybyte brings users a new and unique way to mine BitCash. MoneyByte is a blockchain project that has created handful of innovative financial tools.

MoneyByte will dedicate mining equipment to the BitCash blockchain and users will be able to use their MoneyByte ($MON) to exchange for a percentage of the BitCash mining rewards. You can read the details in the graphic below:

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You can read more about our collaboration with MoneyByte HERE.

New Algorithm — X25X

On March 1st, we had a smooth hard fork that switched BitCash from X16Rv2 to X25X. X25X is FPGA and ASIC resistant and took us from the path of using Ravencoin algorithms. X25X was created by the cryptocurrency project Sinovate.

Philanthropy

As COVID-19 has spread across the globe and has affected us all, either directly or indirectly, we wanted a way for the BitCash team and community to provide assistance with this pandemic. So, we stumbled upon Folding@Home which allows people to donate computational power to help researchers in the fight against the novel coronavirus.

We put up 25,000 BitCash for those who wanted to participate in donating computational power under team BitCash! We truly appreciate those who contributed!

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2020 Q1 Transparency Report

In our initial BitCash Transparency Report we mentioned that we wanted to inform our community about how the BitCash funds have been allocated during the previous quarter. As a reminder, BitCash did not hold an ICO or raise any money.

As of right we have been operating solely from our founder’s own funding and the block fee.

Financial Transparency

Here is the BitCash block reward address:

http://explorer.choosebitcash.com/address/b2ToNA3DtNRCRhUstcjiijoTPoji8K7zuPKyHBaZTxeSe8Ubjexo

We receive 10% of the mined coins and use it for marketing, development purposes, and PeerQ.

— — — — — — — — — — — — — — — — -

He is the premine. It is split into 3 parts for the 3 core team members:

3121332.9999 coins are here:

b2VRpDwkCapoJi8e91tZSMHTVJMT7edPFAHY5grFsCnUPG314tEc

3112757.345356700 coins are here:

LEWJDpQVXLMKBWnmCAzu84TmsNwQfJMLAUUEArJYh3xem8wuZ7Nf

3174332.99998052 coins are here:

b2UCa9ghEzXAoM8Miu9Ld1VJJZVUJK48Q5aWDz2pLBvqm19tZ3o1

Below is an itemized list of spending during 2020 Q1.

Folding@Home

● Split amongst participants: 25,000 BITC

PeerQ

● Team-Generated Bounty Payouts: 1,500 BITC

Marketing

● Social Media Marketing: 10,000 BITC

● LiteTiger YouTube Tip: 3000 BITC

● Mineyourbiz Podcast Tip: 2500 BITC

● Monthly Payments to our hard-working Volunteers

2020 Q2 Roadmap

Our goal this quarter is 100% focused on the updated PeerQ platform. Root has made tremendous progress and we have SMM, SEO, and other marketing ideas prepared for it’s launch.

BitCash Official Links:

Website — https://www.choosebitcash.com/ and https://www.peerq.com/

Discord — https://discordapp.com/invite/7P4YcXU

Twitter — https://twitter.com/ChooseBitCash

Bitcointalk ANN — https://bitcointalk.org/index.php?topic=5106123.0

Telegram — https://t.me/chooseBitCash

Reddit — https://www.reddit.com/r/BitCashCoin/

BitCash combines the power of block-chain with the features of banking to create the world's most useable cryptocurrency.

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