1. What is BFS
BFS (bitfrog share) is issued to give bitfroggers the right to hunt transaction fee on bitfrog. It is neither a currency nor alt-coins and it will not be used as currencies on bitfrog. It is a ticket for bitfroggers to capture transaction fee hunting opportunity of transactions process on our platform.
As bitfrog is developed according to Proof of Stake model, chances for hunting transaction fee is calculated based on the amount of shares owned by bitfrogger, which means more shares on hand, more transaction fee you can hunt.
We are currently running a 4 stages donation campaign for you to obtain BFS through donating bitcoin. The amount of the BFS will be prorated over donors based on the total donation and the issued shares within the same stage. Our donation address is 1frogRHNoxGXYuYUzWnMrdcDiQgGdmQm5. For more information regarding donation, please visit http://bitfrog.io/#donation.
2. How to integrate with bitcoin?
Before jumping into explaining how bitcoin, bitcoin blockchain, bitfrog shares(BFS) and our DAG projects work together. We would like to introduce the concept of DAG (Decentralize autonomous game) first.
We are inspired by DAC. DAC (Distributed Autonomous Community) is an "entity" without any central point of control, however, DAC have an agreed agenda, business plan, and protocol.
Our DAG projects are trying to create a DAC that replaces the existing centralized game hosts and allow game players (end customers) to play games using bitcoins in a fair and secure environment.
How can you be part of our DAC? bitfrog share is the ticket for the general public to take part in our DAC. As bitfrog is developed according to Proof of Stake model, the chances for hunting transaction fee is calculated based on the amount of shares owned by bitfrogger, which means more shares on hand, more transaction fee you can hunt.
I think you can understand that BFS is not an alt-coin but a proof of community membership now. And the remaining question is how bitcoin or bitcoin subchain can work with our DAG? Although bitcoin is the first and most successful blockchain application, its characteristic does not fit perfectly in our DAG application e.g.bitforg Poker requires fast confirmation of transactions. To bridge the gap, we would like to introduce the notion of (for the moment we call it)"subchain". It is very similar to "sidechain" ina sense that it is a new blockchain backed by Bitcoin and is "pegged" to Bitcoin.
The new blockchain's characteristic and purpose are tailored for our DAG projects. It is not going to be a "general purpose" blockchain and it will fully integrate with BFS so that BFS holders can hunt transaction fee in the "subchain" and ultimately be rewarded in bitcoin through the "pegging" mechanism. One point to note is that our "subchain" does not require changes to the core Bitcoin protocol.
Before the official start of donation, 6 months were spent on conceptual design and investigation on feasibility. Our projects are at initial stage of bitcoin integration. Therefore,we might not be able to disclose technical information until the announcement of stage 3 donation to protect our donors at stage 1 and stage 2.
3. Is this a scam?
We are clear that we are not a scam, on the other hand, we understand that you would not be convinced completely until the release of bitfrog Poker DAG in the end of stage 3 donation. If you are conscious about the potential risk of scam, we recommend you to join the donation at stage 4, when you can see our codes of all layers of bitfrog DAG.
4. Why bitfrog donation is needed?
There are two main reasons. Firstly, donation is our way of bitfrog share decentralization. Moreover, donation would increase capital for the development team. Currently, we have sufficient fund to complete the project, but it might take more than one year before we release the first bitfrog DAG. With your investment, the project will be expedited as per our donation plan. Join our donation campaign if you would like to witness and share our success soon.
5. In stage 1 donation, will I get the same amount of BFS no matter which date I donate?
Yes, donors who donate within the stage 1 will get the share the amount of BFS proportional to their amount of donation. However, please note that the end date of stage one might not be exactly on July 21, 2014. Due to the progress of BFS client beta release, the end date might change accordingly. If you are interested in bitfrog projects, you are suggested to join the donation earlier to prevent missing the deadline.
6. What is bitfrogger?
bitfroggers is the alias which refer to bitfrogshare holders who run bitfrogshare application client for transaction fee hunting.
7.In current donation campaign, will I get the bitfrogshare of future integration with other altcoin?
Our current donation campaign only applies to bitcoin integration. With the use of the same technology, we are able to integrate with other altcoin. However, integration with other altcoin is not included in our current plan.
8. If I do not want to join donation at stage 1, is there other way to support bitfrog?
Other than donating bitcoin to us, you can also support us by:
1. Share your view - Every comment counts in making bitfrog a better platform, shape it the way you want!
2. Share this video to your friends on facebook or twitter - More followers means more successful decentralization.
Our facebook page: https://www.facebook.com/pages/Bitfrogio/764314533590827
Our twitter : https://twitter.com/bitfrogio
3. Join our team - We are now recruiting poker lovers with professional PR background to join the team. He/ She will be assisting us in public communication in different media and channels. If you are interested, please shoot us a pm. Personal details is not required but it would be nice if you can enclose your resume and share your thought about bitfrog in the message.
4. Follow us in facebook, twitter - Do not miss our latest information
Your support means a lot to us! Act now!
You can also read the latest FAQ on our forum! http://bitfrog.io/forums/topic/faq/
