[ANN] EBIT - A fair distribution of tokenized erc20 bitcoins

eance

full member

Activity: 402

Merit: 100

Quote from: ebit-token on October 27, 2017, 05:41:52 AM

Another token has ripped off our name, "EBIT"

The EBIT listed on Etherdelta right now is not the legitimate EBIT. They announced their useless airdrop token more than a week after our announcement.

Please help voice concerns to etherdelta to remove this scam token here: https://www.reddit.com/r/EtherDelta/comments/7923oy/please_remove_ebit_the_group_hijacked_our_name_a/

Our official site is up at http://www.ebit-token.com/

We will have the claiming form ready to go within a few days.

It’s sad to see ppl copy-cut the original token

ebit-token

newbie

Activity: 12

Merit: 0

Another token has ripped off our name, "EBIT"

The EBIT listed on Etherdelta right now is not the legitimate EBIT. They announced their useless airdrop token more than a week after our announcement.

Please help voice concerns to etherdelta to remove this scam token here: https://www.reddit.com/r/EtherDelta/comments/7923oy/please_remove_ebit_the_group_hijacked_our_name_a/

Our official site is up at http://www.ebit-token.com/

We will have the claiming form ready to go within a few days.

ebit-token

newbie

Activity: 12

Merit: 0

Quote from: safariwave on October 11, 2017, 03:09:07 AM

It seems a very nice project, however it's a bit too complicated for dumb people like me... Do you have the chance to prepare an "how to" ?

Thanks!

We are working on an alternative claiming method which will be easier. People will still be able to claim using the OP_RETURN method, but we will have a second option available before the end of the month. The second option will be a simple form, where you submit your bitcoin address and your ethereum address. You will be told a specific bitcoin amount (under $1) to send to an address for verification.

This way it will be easy for anyone to claim their EBIT tokens at practically no cost.

safariwave

full member

Activity: 391

Merit: 114

It seems a very nice project, however it's a bit too complicated for dumb people like me... Do you have the chance to prepare an "how to" ?

Thanks!

mummybtc

hero member

Activity: 868

Merit: 500

I think this is the first E-series Airdrop token that make real sense, the way all these new airdrop tokens are spamming the forum is very annoying and frustrating in deed for one to see two projects fighting on ELTC name

kabirulhasan

jr. member

Activity: 52

Merit: 10

Interesting project, I am in

davide72

legendary

Activity: 2226

Merit: 1014

How this airdrop works? the more btc you have in your wallet the most coin you will get? is this the way, thanks for the info dev

ebit-token

newbie

Activity: 12

Merit: 0

Quote from: yeswepump on October 10, 2017, 06:41:24 AM

I have found these instructions to create what is needed in Bitcoin Core: https://bitcointalksearch.org/topic/wtb-teach-me-to-manually-create-an-opreturn-tx-453086 but I can't find how to do it in Electrum, if it's ever possible. Please help...

Once you format your raw transaction as discussed in that thread, you can push it to the blockchain using https://blockchain.info/pushtx

yeswepump

legendary

Activity: 1162

Merit: 1011

I have found these instructions to create what is needed in Bitcoin Core: https://bitcointalksearch.org/topic/wtb-teach-me-to-manually-create-an-opreturn-tx-453086 but I can't find how to do it in Electrum, if it's ever possible. Please help...

ebit-token

newbie

Activity: 12

Merit: 0

Quote from: safariwave on October 10, 2017, 03:57:45 AM

Can you please explain what means "This signed message can be sent to any address" ? thanks

It means you do not have to send the message to our bitcoin wallet. The message can be attached to any bitcoin transaction, to any destination. The only requirement is that it be formatted:
ebit 0x00000000000000
Where "0x000..." is replaced with an ethereum address.

This is done using the OP_RETURN script in bitcoin.

Quote from: wwzsocki on October 10, 2017, 04:06:04 AM

I will follow this topic. Distribution using a snapshot of bitcoin so we receive so many tokens as bitcoin balance or same amount of tokens?

Yes, the balance of each bitcoin address during the snapshot will be the same balance of EBIT credited to ethereum addresses.

wwzsocki

legendary

Activity: 2744

Merit: 1708

First 100% Liquid Stablecoin Backed by Gold

I will follow this topic. Distribution using a snapshot of bitcoin so we receive so many tokens as bitcoin balance or same amount of tokens?

soza1sheng

member

Activity: 76

Merit: 10

EBTC, EBTH, EZEC...What E next?

safariwave

full member

Activity: 391

Merit: 114

Can you please explain what means "This signed message can be sent to any address" ? thanks

ebit-token

newbie

Activity: 12

Merit: 0

How to claim your EBIT tokens **UPDATED 10/10/17**

To claim your EBIT tokens, simply send a bitcoin transaction with the signed message, "EBIT 0x0000000000000000000000000000" where "0x000..." is replaced with the ethereum address which will receive the claimed EBIT tokens. This signed message can be sent to any address. You may use the same ethereum address in your messages from multiple bitcoin addresses. We encourage this to reduce gas costs at time of distribution. Do not send your claimant message from any coinbase account or other exchange that allows messages. Exchanges often update wallet addresses, and you risk not receiving your tokens.

If you hold BTC on any exchanges and you support this project, we encourage you to ask the exchange to also support this token, and take the steps to claim and credit their users with their balances. Otherwise you will need to withdraw your BTC to your own wallet before the November 6th snapshot, in order to receive your EBIT tokens.

Tokens will become available within 24 hours of the snapshot.

Cryptominia

full member

Activity: 176

Merit: 100

Im very excited for your project to air,

ebit-token

newbie

Activity: 12

Merit: 0

Quote from: Florg on October 08, 2017, 05:46:59 PM

Interesting, so this si kind of like CLAM where you take a snapshot of the blockchain and coins are claimed based on that? Do we just put in a BTC address to claim the coins later or how does it work. I hold some BTC and I don't want to miss out on any free opportunities. Will this also support exchange wallets or only personal wallet balances?

The process of claiming will be to send a signed message from your BTC address. We are not ready just yet for people to begin doing this. When we are ready, we will give instructions on exactly how to format that message. For this reason, exchange wallets will be at the discretion of the exchange owner. Feel free to contact your exchange to ask them to support this coin. We believe we will have decent exchange adoption, since they have an incentive to claim their own EBIT, given that they own a lot of BTC.

Quote from: SidharthMalhotra on October 08, 2017, 05:50:18 PM

Interesting, will there be minimum ETH requirement ?
If the value is too low then there will be so many addresses that gas fee will have a big value.
If the value is too high then there will not be broad adoption.

Great question. There are two different routes we can take to overcome this problem.

Route 1 would change claiming into a two-step process, where the second step is to send a flat fee of .001 ETH to the EBIT contract, to cover gas costs. This would allow there to be no minimum amount of BTC to claim. You can link multiple BTC addresses to a single ETH address, so you will only pay the ~30 cent gas fee once, instead of for each BTC address.

Route 2 would be to have a minimum BTC balance of .001. You can still link multiple BTC addresses to a single ETH address, so hitting this minimum should not be difficult for most people.

We would like feedback on which option people would prefer

Link69000

newbie

Activity: 6

Merit: 0

I will follow this topic.
I would like to know the goal of this coin

seasonw

hero member

Activity: 714

Merit: 500

Quote from: SidharthMalhotra on October 08, 2017, 05:50:18 PM

Interesting, will there be minimum ETH requirement ?
If the value is too low then there will be so many addresses that gas fee will have a big value.
If the value is too high then there will not be broad adoption.

It should be "minimum BTC" because it is based on BTC, but claim ETH token...

yesiam6

hero member

Activity: 1036

Merit: 520

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Quote from: Shemyazael on October 08, 2017, 06:08:13 PM

How exactly will this work?

A snapshot of the bitcoin blockchain will be made and if you own any bitcoin on an address that you own your private key to
you will get the same amount in EBIT if you can sign a message proving that you own the bitcoin address.
It's a pretty good idea imo, as the OP said like a true "fork" of bitcoin but on the ethereum blockchain.

kabirulhasan

jr. member

Activity: 52

Merit: 10

I am interested to follow it

Topic: [ANN] EBIT - A fair distribution of tokenized erc20 bitcoins (Read 1807 times)