Topic: [ANN][BITCAR] BitCar Token Sale: New Exotics Peer-to-Peer Trading Platform*** - page 7. (Read 17048 times)

New interview with Daniel Woodroof and Sheree Ip of BitCar discussing with the Crypto Lingo team of the inner token dynamics and the BitCar Platform: https://youtu.be/CUd_6RVfjfs

Thanks guys, and thanks for the review.

It is a very interesting project. Nice work here.. good team.. join the projects.. and thanks for sharing your business ideas on https://icoguide.com/en/ico/bitcar

Blockchain company BitCar.io has announced a gear change in its business model, giving BITCAR token holders the chance to trade their way to full ownership of the platform’s top-end exotic vehicles.

Similar to some other cryptocurrencies, BitCar uses a dual token system, meaning people can buy BITCAR tokens and then use this to acquire CAR tokens representing individual exotic cars on the BitCar platform.

The BitCar platform is designed to allow CAR token holders to peer-to-peer trade their tokens with others at any time, which BitCar hopes will grow into a large live marketplace over time.

The ‘trade your way to a whole exotic’ model development has been introduced due to strong user feedback – where numerous users said they would love the ability to eventually wholly own an exotic car.

“When a new platform car is on-boarded, its CAR tokens will each be pegged to one US dollar, fractionalizing the title of the car into the CAR Blockchain currency. Each vehicle will have its own unique ‘CAR’ tokens assigned to it, which can be traded,” said BitCar Executive Charles Kilborn.

CAR token holders will have access to several third-party indexes, spot prices and future value estimates, along with other valuable data such as a ‘leaderboard’ of token holders and so can make their trading decisions based on their view of this data.

“Buyers in the BitCar marketplace, who over time want to own one of these exotics outright – can seek to acquire more tokens in it, by making offers to existing CAR token holders,” said Mr. Kilborn.

CAR token prices are designed to be much less volatile than other cryptocurrencies, and so holders should benefit during times of crypto volatility to benefit from their greater stability compared to other cryptocurrencies.

They can also trade tokens with peers. But fundamentally, in a world first, BitCar will allow those that want to own CAR tokens to gain exposure to exotics that appreciate over time.

“The platform is designed so that users can automate trading criteria, shift between different CAR tokens, auto bid, or opt to accept transactions per their set criteria,” said Mr. Kilborn.

Every five years, the ownership of the car will be examined. CAR token holders who own all or a majority of the tokens of a vehicle can take possession of the vehicle (drag-along provisions will apply), which burns the CAR specific tokens. Alternatively, they could choose to put their CAR tokens back onto the platform.

Keep reading --> http://bitcoinist.com/bitcar-model-allows-users-the-ability-to-trade-their-way-to-full-car-ownership/

Total token supply is 500M tokens. For token sale 250M tokens are allocated. 1.5 M for bounty campaign which ends April 20.

All info about bounty is in detail explained in the bounty paper which you can download here: https://bitcar.io/#papers

Yes you are correct.
“Trade your way to an exotic” Using the P2P BitCar exchange, users can trade their interests in exotics. After the 5 year holding-period of an exotic,   BitCar will evaluate the size of ownership users have in   an Exotic -   if a user has a majority holding in a car, they will be given the opportunity to buy-out the remaining CAR tokens in the car (drag-along provisions apply).   

https://thebitcoinnews.com/bitcar-model-allows-users-the-ability-to-trade-their-way-tofull-car-ownership/

BitCar is also planning to organize race track days and competitions so you might be able to get to drive a ferrari there in the future but it won't be one of the platform cars as they will be treated like art and such a risk can't be taken. In the end we all want that the cars appreciate in value over time, not the other way around.
   

Hi, we are here, but if you are looking for quick answers then best jump on our telegram live chat t.me/bitcar_io

ICO Alert Quick Facts

   

• With BitCar, users own fractions of exotic cars.

   

• $0.10 = 1 BITCAR token, with a 5% bonus as of this writing

   

• ICO open from January 31, 2018–April 20, 2018

   

• 250,000,000 total available BITCAR (Pre-ICO and ICO) / 500,000,000 total supply

   

• Exotic cars have outperformed many major assets (gold, S&P 500, private equity, hedge funds, commodities, etc.) over the past 12 years.

ICO Alert: What is BitCar?

BitCar is a blockchain technology company that seeks to disrupt ownership in the automotive industry globally, and initially in the sector of Exotics — rare and collectible hypercars, supercars, and top end classic cars. Historically these cars have appreciated in value at a greater rate than any other asset class over the last decade; however, they have only been accessible to the extremely wealthy. These Exotics have actually outperformed gold, silver, property, the S&P 500, and others over this time, making it a very important, large, and relatively untapped asset class.

By processing vehicle titles on the blockchain, BitCar seeks to facilitate fractional ownership in these vehicles, which would give the mass market exposure to this asset class for the first time.

The BitCar Platform uses a dual-token economy, where BITCAR utility tokens can be exchanged for on-platform CAR asset tokens, which represent a user’s fractional ownership in an Exotic or set of Exotics. The intention is that these CAR tokens can then be traded between users on BitCar’s unique peer-to-peer (P2P) trading platform.

On top of the offerings mentioned above, BitCar also intends to offer crypto holders the opportunity to “park” their cryptocurrency in a token backed by a physical asset — i.e the Exotic itself. By ‘pegging’ the value of CAR tokens to the USD value of the Exotic (at the time it’s onboarded), users have a method of relative protection against the volatility of the cryptocurrency market. The BitCar platform will present exhaustive analytics for each vehicle, including multiple indices, spot pricing, and future value estimates from 3rd party sources. At any time, a CAR token has its own market price (the price at which it is being traded). P2P traders can see the current price relative to that at which the Exotic was onboarded and thus decide whether it presents good value in comparison to the underlying price.

For example, if a prospective buyer is looking at a CAR token currently trading above the original onboarded price, they will be able to evaluate the offered price against estimated current market value to determine whether the price represents an opportunity — especially during times of crypto volatility. After all, on some days, altcoins are down 40%! We believe there is large demand for this protection based on this excellent asset class.



ICO Alert: How do the BitCar tokens (BITCAR and CAR) function within the platform, and why are they needed?

BITCAR tokens are the utility token for the BitCar Platform and are currently available for purchase during our Token Generation Event. They serve several (strictly utility) functions, e.g. the ability to purchase CAR tokens, pay trading fees, and pay for MSI (Maintenance, Storage, and Insurance), as well as other functions outlined in more detail in our whitepaper. Additional uses of the BITCAR token include payment with our partners. Our latest partnership is with Moonlambos, which accepts BITCAR as a cryptocurrency to purchase supercars in the UK and USA.

The CAR token is an asset token that represents a unique physical exotic car. Every time a car is onboarded onto the BitCar Platform, there will be 1 CAR token for every USD value of that car at the time of onboarding. This CAR token will also be renamed depending on the car it represents ownership in. The CAR token represents a digital fraction of the car’s title on the blockchain, and therefore fractional ownership.

For example, if a McLaren F1 was valued at $15,000,000 at the time at which it was onboarded onto the BitCar Platform, there will be 15,000,000 “McLarenF1#001” tokens (CAR tokens) created.

Platform users will be able to go through the BitCar Platform to see which cars are available for purchase and select them individually, or have the BitCar Platform auto-select according to user-defined criteria. They will then exchange their BITCAR tokens for any number of CAR tokens in a single Exotic or a range of their choice.

Every five years, the ownership of the car will be examined. CAR token holders who own all or a majority of the tokens of a vehicle can take possession of the vehicle (drag-along provisions will apply), which burns the specific CAR tokens. Alternatively, they can chose to put their CAR tokens back onto the platform.



Read the full token report and interview here: https://blog.icoalert.com/ico-alert-report-bitcar-53740b5ce2c

BITCAR is already accepted by partners within the automotive industry as a crypto currency. For example exotic car dealership Moonlambos is accepting BITCAR tokens for full car purchase in US and UK. More dealers are onboarding. You can stay updated about partnerships https://bitcar.io/#partnerships

On the BitCar platform itself BITCAR is used to pay for MSI costs and can be used to purchase fractional ownership. Token holders can either day trade individual CAR tokens or trade themself up and hold them after that individual car goes to auction after 5-15 years. The owner with all or majority of the CAR tokens can take possession of the car at BitCar auction.  Or onboard the car again on the platform if he does not want to look after it himself in his garage.

For more questions you are welcome to join our telegram chat t.me/bitcar_io

Very good team. I really like the method and the brilliant idea from this project. and they have 7.6 high rating on https://icoguide.com/en/ico/bitcar

BitCar opens a new asset class for the first time in blockchain. This is how BitCar works allowing the real use of tokens within the platform, so the demand for cryptococcus is expected to increase over time. BITCAR currents will be used during Exotic acquisitions for maintenance, storage, insurance and licensing (MSI) as part of joint ownership. And Token BITCAR is the main ERC Token that handles all transactions in Etherem.
this is a leading blockchain technology company in Australia. and has been developed for more than 2 years,
this proves the experience of this project, so no need to hesitate ..!

I think this project is not much supported  by Bitcar team which is needed if you opened the thread on bitcointalk then you have to discuss with community. Hope they will appear here.

Any community managers supporting this thread available? Or the project is abandoned?

@ZFmnbran you have all the necessary information about the bounty in the following link: https://bounty.bitcar.io/

Seems like cool idea and could be nice to drive Ferrari one time

I think you have also an option to buy the car in future for your tokens. Am I correct? If so please share more information about this feature

Any more information about the bounty?

Well, if I buy a share in ownership of an exotic car, can I ride it? Anytime I want or ride time would be limited by my share? Where the car is to be stored?

Status: Your Bitcointalk rank is not elegible for the bounty campaign.