Topic: [ANN]BitMiles (BTMi) Launched - First Cryptogenic Frequent-Flyer Miles - page 5. (Read 49469 times)

Please Note: the bid per BitMile (BTMi) will be based on demand. At this stage, the price per BTMi is super low and chances of the 'indirect' system to work, is incredibly slim - unless we see the price increase ! We would hate to see this die. We don't want 1,000,000 BTMi exchange for 5 SkyMiles (you get the idea). Simply put - we need your help!

Now that the block rewards are increasing to 2400, what do you anticipate the price will do?

Edit: I have another question too, how do you propose to have any "real world" use, when as I have right now 1 transfer unconfirmed after 12 hr's and counting.

Any thoughts on joining the JBS multipool to help keep us on the exchange

https://bitcointalksearch.org/topic/m.9585345

This coin will be dead very soon. BTMI team has failed to keep communicating and there are no big news coming up.
I did very much like the concept but without any concrete agreements this coin is like any other. This was primarily reason why i jumped off.

Sorry and good luck

Hey all

The initial 'starting block mining period' has come to an end and BitMiles rewards increased from 500 BTMi per block to 2400 BTMi per block! This block reward will remain for 2 years (next switch on block 1051200) to 1200 BTMi per block. Happy mining!

Thanks so much!

Congrats on the transition Dev, the hashrate is already above 1 g/s Network H/s: 1110463912

Hey  all

iSpace mining pool added http://goo.gl/DnLfR2 . See OP for updates

Only 1135 blocks to go before BitMiles rewards increases from 400 - 2400 (that is triple (x2))

Enjoy !

Hey guys

My apologies for the short delay in posting update here. We have had a few very busy days behind us (BitMiles and non-BitMiles related) and things are easing to normal again. So, just to give a few word on whats happened/happening :

1. Block rewards will increase on block 44640 (that is 1925 blocks from time of writing this post). Rewards will increase from 400 BTMi to 2400 BTMi (good time to start mining). Speaking of blocks - our block explorer is live (in-house) : http://blocks.bitmiles.org/

2. We have been in touch with several travel related merchants over the past two weeks (resorts, car rental agencies, cab services, and even airlines to name but a few), and have already had some good feedback from Ettalong Beach Resort (could possibly be the very first resort to start accepting BTMi in addition to the BTC they already accept), as well as a lodge. We are still awaiting feedback from most of the merchants we have contacted and we still have a boat load of merchants we need to get in touch with (which we will be ongoing). All partnerships will be posted here (as merchants accept/integrate BitMiles).  Hoping to have the first relevant partner before the end of January 2015.

3. We have participated in the POD (Proof of Developer) program and are currently in review for our rating. Once our rating becomes available, we will add it where necessary.

4. We have rethought the airline (specific) adoption side of things and decided to alter the system a bit to be more accommodating to our users (also to give them ease of mind when it comes to using their BitMiles for what it was originally intended). So, the main reason for this change was :

4.1 we understand that not all airlines will adopt BitMiles as an alternative to their already existing frequent flyer program (perhaps not even one airline). Should NO airline adopt BitMiles, there is no way for you (the miner) to use your BitMiles with any airline as an alternative. So, what's the point of having a stash of BitMiles?

This is why we are altering the system for direct and indirect usage with airlines (this will not apply to accommodation, car rentals, cabs, etc).

direct usage will be for any airline that choose to use BitMiles as an alternative to their own ffm program
indirect usage (exchange type system that we are working on right now), will allow you to exchange your BitMiles for Skymiles (Delta). This is just an example.

Example :

you have 4,000 BitMiles and you have a Delta SkyMiles account
each BTMi is worth $0.03 (example) and each Delta SkyMile is also worth $0.03 (actual current price is $0.035 per mile: https://www.delta.com/buygftxfer/displayBuyMiles.action = the aim is to get BitMiles as close as we could to real world price)
you exchange your BTMi for SkyMiles (via the exchange system)
4,000 SkyMiles is credited to your Delta membership account (all we need is your name and member ID/).

Please Note: the bid per BitMile (BTMi) will be based on demand. At this stage, the price per BTMi is super low and chances of the 'indirect' system to work, is incredibly slim - unless we see the price increase ! We would hate to see this die. We don't want 1,000,000 BTMi exchange for 5 SkyMiles (you get the idea). Simply put - we need your help!

BitMiles will be able to be credited to and used with fourteen different airline loyalty programs (as a start) :

United - MileagePlus
AeroMexico - Club Premier
Air Canada - Aeroplan
Air France - Flying Blue
British Airways - Executive Club
Cathay Pacific - Asia Miles
Delta - SkyMiles
El Al - Matmid
Emirates - Skywards
Iberia - Iberia Plus
JetBlue - TrueBlue
Singapore Air - KrisFlyer
Virgin America - eleVAte
Virgin Atlantic - Flying Club

We hope that this new addition to BitMiles will bring more people on-board (both miners and merchants). Pun intended! Once this system kicks into effect (which should be by mid-Feb latest), notification will be posted here as well as our website and social streams.

5. BitMiles paperwallet will be made available this coming week (we are on the verge of finishing up). Then, we are also busy with the Mac OS X wallet which should be done by the end of this coming week.

6. BitMiles Whitepaper and website (http://bitmiles.org) will be updated/revamped over the next few days.

Happy mining

DEV! can you update everyone? no communication from your side is not very good strategy...

Hi Dev,

Would you have already something for us? Looking forward to your update.

I have been keeping an eye since that day

Seriously someone report this guy for all this spamming that he is doing for this rip off ponzi scheme!! This is threads for discussing the coins that are announced buddy so FACK OFF!!

So Dev I first must congratulate you on getting added to Bittrex Also I look forward to what the future of BitMiles brings

impressive hash rate Network H/s: 530731445 and the difficulty is going up, could this be a good sign to start buying bitmiles? I love the name btw

Thank you for your reply, looking forward to reading them

Hey 

Progress report/update will be posted here within the next few hours. Keep an eye on this thread 

Regards

Hello Dev, any news?

Gotta mine enough coins before a pump. Makes perfect sense. 

What I don't understand is the coin is in the crapper on C-Cex, but yet there is a shitload of hash on it.  Why?  With the block increase, is this going to be one of those 1 SAT coins?

We are now on block 29490 and we are nearing the 44640 block mark (low starting reward blocks of only 500 BTMi p/block). We should reach block 44640 within the next 7 - 8 days. Hereafter, block rewards will increase to 2400 BTMi p/block for the next 2 years. Happy mining!