Read our first article before continuing: https://steemit.com/cryptocurrency/@bitcoinair/secure-payments-as-light-as-air
What comes to mind when you think of an approach for something like Air?
The presence of Air is something lightweight, unnoticeable, but completely life engulfing. It supplies the core necessity of life, and at the same time maintains it’s own characteristics such a degree, speed, and content. This being said, Air is a versatile and essential element to life that can be subject to any and all variables while maintaining consistency and purpose.
We apply this same logic to Bitcoin Air. The need for a lightweight, versatile, and completely essential piece of financial technology has began the race to develop what every entrepreneur has seen as the “Cryptocurrency Bubble”. Riddled with coins of no use, pump and dump scams, and market manipulation, cryptocurrency has earned both it’s wraps as an innovative financial technology, and both a burden upon society. Over 1600 new cryptocurrency have sprung up with some having no meaning at all. With Bitcoin Air, we seek to provide a new form of connection between merchant/consumer by creating a uniquely operating dual blockchain.
The solution Bitcoin Air seeks to bring to the table is an innovative approach at developing two bilateral side-chains that function together, but separately. One chain would operate as a reserves system (static value) and the other end would operate as a payments system (volatile value). The volatile chain will allow public sends and transactions to places such as user to user, user to exchange, and user to merchant. The static chain will only allow mint/burns into either $XAP or AirCash. This hidden static chain will operate bilaterally to the volatile chain and will not allow private sends or access via an exchange. It will be a privately accessible blockchain through the consumer and merchants wallets only. The main purpose of this side chain is to create an internal blockchain reserves system that could not only let a user operate as their own bank, but also their own lightweight reserves system that can print and remove funds from circulation as they please. Once funds are on the static side chain, a user can view the motion of the market health and choose their strategic moment for reentry into the volatile side chain. If the user would prefer to conduct sales and transaction off the blockchain and would rather be able to use their funding without the need for worry, they can mint their USDAP into AirCash.
$USDAP and AirCash will be the static options to send and receive value. While $USDAP is a static value cryptocurrency, AirCash is a static value paper fiat that will allow any user of Bitcoin Air to burn $XAP, mint $USDAP, and then burn $USDAP, to mint AirCash. The user would receive a printable fiat currency design with a QR code that is specifically for “sweeping” into another users wallet, or back into their own. AirCash will look like a custom fiat, but the user will be able to print it right out of their own home printers. AirCash will have the set value you peg to it by burning $USDAP and minting it all to a chosen AirCash Denomination ($5USDAP, $10USDAP, $20USDAP, $50USDAP, $100USDAP, $1000USDAP, and so on). Paying with AirCash is as simple as handing over the fiat currency with the correct denomination stated and the merchant/receiver can simply sweep the value of $USDAP into their wallet and then the paper fiat currency becomes useless and can be recycled!
Come time for a consumer or merchant to want to exit the market, they can simply mint all USDAP/AirCash into $XAP and proceed to send it to a supported exchange of their choice. Their $XAP will become influenceable by the market health at that point and the user could then exchange it into the currency of their choice via any easy to use cryptocurrency exchange out there!
Can you explain the ratio and confirm what coins will be a part of the fork?
Confirmed Coins for Fork:
- Bitcoin ($BTC) holders will receive Bitcoin Air ($XAP)
- Peercoin ($PPC) holders will receive Bitcoin Air ($XAP)
- Haven Protocol ($XHV) holders will receive USD Air Protocol ($USDAP)
The ratio for $XAP/$USDAP will be something of a new happening in cryptocurrency. What we are proposing to do is ensure that the Bitcoin and Peercoin community who receives $XAP will not automatically dump their supply due to receiving a free airdrop. This means that all ratio’s will match up to the current supply of Haven Protocol at the time of fork.
Bitcoin Holders Airdrop Ratio Explained:
Bitcoin holders will receive $XAP at a ratio that can be calculated by going to https://www.coinmarketcap.com/ and viewing both the circulating supply of Bitcoin and the circulating supply of Haven Protocol. You would then divide the Bitcoin Supply by the Haven Protocol supply to get the airdrop ratio (At time of writing, Bitcoin Supply = 17,085,362 and Haven Supply = 2,806,233. If the forked happened at the time of writing, the ratio would be 6.08BTC:1XAP). As you can see the ratio will be a variable ratio due to the growth of circulating supply.
Peercoin Holders Airdrop Ratio Explained:
Peercoin holders will receive $XAP at a ratio that can be calculated by going to https://www.coinmarketcap.com/ and viewing both the circulating supply of Peercoin and the circulating supply of Haven Protocol. You would then divide the Peercoin Supply by the Haven Protocol supply to get the airdrop ratio (At time of writing, Peercoin Supply = 24,802,239 and Haven Supply = 2,806,233. If the forked happened at the time of writing, the ratio would be 8.8PPC:1XAP). As you can see the ratio will be a variable ratio due to the growth of circulating supply.
Haven Protocol Holders Airdrop Ratio Explained:
Haven Protocol holders will receive $USDAP at a ratio that can be calculated by going to https://www.coinmarketcap.com/ and viewing the current price of Haven Protocol. You would then multiply your current balance by the price of Haven Protocol to get the amount of $USDAP that you will receive. (At time of writing, Haven Protocol price = $1.66. If the forked happened at the time of writing, and the holder had 100 XHV, the user could calculate their USDAP by doing $1.66 x 100 to get 166 $USDAP. This ratio would go for any decimal point up to 4 decimals). As you can see the ratio will be a variable ratio due to the growth of market cap and price of coin.
How can I help out with the growth of Bitcoin Air?
Currently we are two programs being offered to allow the community to take part in aiding in the growth of Bitcoin Air. As a community driven coin, we feel the best thing we can do is extend opportunities to the community to put in their say as well as provide their services to expanding the communities outreach. This being said, Bitcoin Air has went ahead and began 2 programs that will begin from this day forward until the August 15th Fork Date Announcement:
Bitcoin Air Evangelists Program
If you are someone who is not only great at getting the word out there, but also at getting your point across, then we want you to apply for our Evangelists Program. We are seeking top level community individuals who and pioneer the way at guiding their communities to the amazing things that Bitcoin Air has to offer. This includes organizing events, promoting the growth of Bitcoin Air, conducting community wide analysis, and gathering requests and criticism from the region you manage.
The Bitcoin Air Evangelists play a key role in the expansion of Bitcoin Air to the local small business market. This being said, we are not just accepting anybody into the Evangelists Program. To qualify for the Evangelists Program, you must have some previous experience in marketing, business development, business management, and community interaction. The ideal candidate will be awesome at social networking, targeted approach, and have a keen eye for detail.
The Evangelists who produce the best conversions based on growth of community, partnerships, and acquisitions will receive a full expansion into a paid position upon the completion of our development. We are seeking Evangelists from all over the world to ensure we can have the most diverse cultural outreach to be able to implement into our business model.
Bitcoin Air Viral Bounty Program
If you are a person who is capable of extensive marketing and social networking, then the Bitcoin Air Viral Bounty Program is an awesome way for you to earn a great prize. We have partnered with UpViral.com to provide you all with an easy to use platform that can help you track the growth of your marketing outreach and convert it into real points on a leaderboard. This leaderboard will display the current top ranking individuals who have been marketing Bitcoin Air the most and were able to gather individuals to join our social networks.
The tasks are quite simple and include the need for you to follow and retweet/repost some posts we have made to help spread Bitcoin Air in a viral fashion. You will be able to also gain more points by sharing your referral url which will bring any users who are interested to the UpViral page to participate as well. The main goal of this bounty program is to offer people a way to give back to Bitcoin Air while also winning some large prizes while doing so!
Don’t wait. More information can be found at: https://upvir.al/52497/lp52497
1st Place Prize is 200 XHV. There are only 10 winners!
Can you answer some of the communities questions?
- What is Bitcoin Air?
Bitcoin Air is a new lightweight cryptocurrency dedicated to bringing cryptocurrency main-stream adoption to small businesses world wide. Bitcoin Air is the first bilaterally operating blockchain that will feature two chains uniquely operating as one!
- How does the airdrop/fork work?
The process would be done via UTXO addition to our core and it would require you to hold Peercoin, Bitcoin, or Haven Protocol through the fork snapshot. To receive the airdrop, you would transfer ALL of your funds OUT of your wallet address (the one you held in through the snapshot) to a safe separate wallet address. You would then take the empty Peercoin/Bitcoin/Haven Protocol Private Key and conduct a "sweep" in your wallet to receive your Bitcoin Air or USD Air Protocol. Please remember to NEVER conduct a sweep for a airdrop with an amount inside of your wallet private key that you are importing. Always send the entire balance to a new address after a snapshot is completed if you plan to receive the airdrop.
- Where do I need to store my XHV, BTC, or PPC?
Haven Holders will be 100% required to maintain their Haven Protocol off of exchange during time of snapshot. They can then go ahead and send their Haven Protocol back to the exchange of their choice. There will be no exchange support for this fork for the Haven Protocol side of receivers.
Bitcoin and Peercoin Holders will be updated later with approved exchange support near the time of the fork. For now, you must all consider the basis that you must hold all of your coins within a wallet off of exchanges to ensure you receive the Airdrop.
- What is the total supply of XAP?
The total supply of XAP will be calculated during the time of the snapshot/fork once the variable ratio has been found. This supply can be found by taking the supply of Peercoin and dividing it by the supply of Haven. Then taking the supply of Bitcoin and dividing it by Haven. You would then take these two divided sums and add them together to receive the start supply for the $XAP end of the chain. The total supply will vary throughout the usage of the Air Protocol and will continue to grow and drop as members enter and exit out of the market.
- What is the total supply of USDAP?
The total supply of USDAP will be calculated during the time of the snapshot/fork once the static ratio has been found. The supply can be found by taking the market capitalization of Haven Protocol at the time of the fork, and accounting 1 USDAP for every $1 of market capitalization. This will go the same for any decimals as well down to the 4th decimal place. USDAP will be a private static value blockchain for pegging $1 to 1 USDAP via oracles.
- Is Rhett associated with this project?
Rhett Creighton is in no way associated with the Bitcoin Air team or development. Rhett Creighton currently confides his time into the Bitcoin Prime and Bitcoin Private projects.
- Is this a Haven Protocol Project?
This is NOT a Haven Protocol Project. We are in no way affiliated with the Haven Protocol team and prefer to let the public know that we are two completely separate developments seeking two separate protocol designs, market approaches, market potentials, and general blockchain usage ideas.
- Who is creating this fork?
This fork is currently be developed by a handful of private funding partners who are none-corporate, none-ICO, and none-VC. The development is lead by Anthony Colón Jr., but is thoroughly overseen by all Leads on the project.
- When is the fork date?
The fork date is to be announced come August 15th to give us adequate time to prepare our PoC, MVP, Test net, and Main aspects to our merchant protocol and consumer usage features. We ask that everyone remain patient while we work and know that we are a team of nearly 20 individuals all seeking to push out some kick a** work and ensure that we get things done on time for you guys!
How can I find out more about the team and the upcoming fork?
One important date to keep in mind is June 15th, 2018. Within the next week, we will be hosting our official Team Announcement and Team AMA where you guys as the community members can ask us anything you would like to know more about Bitcoin Air. The webinar will be hosted with Zoom and will allow up to 10,000 participants to join us in our open discussion on the path of Bitcoin Air and where we see it going!
You can also stay up to date with our social links below:
Website: http://www.bitcoinair.org
Telegram: https://t.me/BitcoinAirENG
Reddit: https://www.reddit.com/r/BitcoinAir/
Twitter: https://twitter.com/BitcoinAirNews
Twitter: https://twitter.com/BitcoinAirUSA
Discord: https://discord.gg/Cr92Htu
Medium: https://medium.com/@BitcoinAirNews
Github: https://www.github.com/BitcoinAir
Announcements: https://t.me/BitcoinAirANN