Yes, we conducted a pre-mine, and 3,000,000 BTQ were allocated for the foundation and marketing, which are used for listing on exchanges. The remaining pre-mined coins are reserved for airdrops and marketing activities.
And you never mentioned this anywhere, not on your website, not on your whitepaper, you mined 1/7 of the total supply and more than 12 years of mining!!!! for, airdrop promotion! Common!
You knew the whole pre-mining thing is frowned upon by every miner or investor and you hid that willingly!
Then you claim "transparency"! How can you claim transparency when you didn't tell anyone that 12 years from now on you will still own half of all the mined coins?
According to their explorer, the premined actually happened on single block which happened on 05:09 26 Jun 2018. But assuming the date isn't manipulated, it's become more weird since the team decide to promote BTQ now (6 years after premine).
@bitcoinquantumxyz, I don't know the future, but your project is not on the right track doing things like this. 3 million premined coins is too large an amount for a small total supply, and what's worse, as @Stompix says, without saying it on the website for example. Investors (at least those with more experience) do not want to know anything about premined coins, since in 99% of cases everything ends in a dump, deletion from the official website, social networks, etc... I'm not going to tell you what to do, I'm nobody, but starting again from 0, or burning those 3 million coins, would not be a bad idea to be able to talk about transparency. Good luck.
Yes, we conducted a pre-mine, and 3,000,000 BTQ were allocated for the foundation and marketing, which are used for listing on exchanges. The remaining pre-mined coins are reserved for airdrops and marketing activities.
And you never mentioned this anywhere, not on your website, not on your whitepaper, you mined 1/7 of the total supply and more than 12 years of mining!!!! for, airdrop promotion! Common!
You knew the whole pre-mining thing is frowned upon by every miner or investor and you hid that willingly!
Then you claim "transparency"! How can you claim transparency when you didn't tell anyone that 12 years from now on you will still own half of all the mined coins?
Thank you for your questions and the opportunity to clarify some misunderstandings about Bitcoin Quantum (BTQ).
Decentralization vs. Centralization: It's important to understand that early access to our project's Github does not imply centralization. Early access is a common practice for projects that want to involve their community closely and gather feedback before making everything public.
The ultimate goal is still to open-source the project fully, ensuring that it remains decentralized in its governance and operation. The blockchain itself operates on decentralized principles, and governance will shift to a community-led model as the project matures.
Similarity to Quantum Resistant Ledger (QRL), Inspiration, and Economic Model: BTQ draws significant inspiration from the Quantum Resistant Ledger (QRL), particularly in adopting quantum-resistant cryptography. Beyond QRL, we have incorporated a wide array of ideas and technological concepts from other leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and more, to enhance our platform's robustness and utility. These influences extend into areas like smart contract functionality, governance models, and scalability solutions, ensuring a well-rounded and innovative approach. One of the standout features of BTQ is the integration of
the XMSS algorithm, a quantum-resistant signature scheme that has received approval from the National Institute of Standards and Technology (NIST). This not only emphasizes our commitment to maintaining a secure and future-proof blockchain but also highlights our focus on incorporating cutting-edge technologies that address future challenges in the crypto space. Our economic model,
designed to position BTQ as digital gold, aims to provide a reliable
store of value and a hedge against inflation, ensuring stability and long-term value retention. By recognizing pioneering projects and integrating a broad spectrum of blockchain innovations, we underscore our commitment to delivering a comprehensive and secure digital currency.
Open-source Code: Transparency is crucial for trust in the crypto community. Our plan includes making the source code publicly available once certain milestones are reached. This is to ensure that the code meets high standards of security and functionality before wide release. We understand the importance of transparency, and detailed timelines for open-sourcing will be shared with our community and partners as they are finalized.
Use of AI Tools: The use of tools like ChatGPT in drafting documents or communications is part of modern digital practices. This does not undermine the authenticity or the originality of our project. It ensures that we communicate effectively and efficiently. Our whitepaper and other texts are generated by our team, with AI used as a tool for enhancing the quality and clarity of the information we present.
Project Legitimacy and Mining Practices: It's crucial to address concerns about legitimacy head-on. BTQ has been transparent about its mining practices.
All addresses minting from block 0 will be transparently publicized, ensuring full transparency of the genesis and subsequent mining activities. Additionally, all coins mined earlier by BTQ developers are designated for airdrops, marketing, listings, partnerships, etc., to foster community growth and project visibility. We refute claims of "privately mining." The mining started openly as per the timelines shared with our community. Our emissions and reward structures are designed to ensure fairness and long-term sustainability, detailed on our official channels.
Future Plans and Rewards: In the coming period, we will announce our plans for allocating BTQ Coin and our activities related to airdrops, marketing, and more. Contributions on forums and through collaboration plans can be made via email at
[email protected]. Active participants and contributors will receive BTQ rewards as a token of appreciation and incentive for their engagement.
Specifically, accounts contributing to discussions on forums like BitcoinTalks and AltcoinTalks will have their contributions publicly acknowledged and will receive bounties from the project transparently.We invite anyone interested in deeper engagement or looking for more detailed information to reach out directly via our official email. We appreciate constructive feedback and are here to provide any clarifications needed.