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Topic: Incorrect Bitcore(BTX) Circulating Supply on CMC - page 7. (Read 4194 times)

sr. member
Activity: 794
Merit: 272
Was there any response when, how and if they would consider the virtual forked coins as circulating supply. As there would be: never, when they are transferred from the fork address or when the fork address' amount is changed in any way?
They can't only say, "Sorry guys, it's done. The supply is going to be frozen forever.". Are they going to at least count the future airdrops into the circulating supply? That's all very strange.
Why do they don't count the virtual fork into the circulating supply? The money is accessible for the ones having the needed private key as every other address on the blockchain. I really don't get on what grounds they're arguing to not count the virtual forked coins. What's the criterium for a coin to be count into the circulating supply. There has to be a definition from their side.

I agree with you but I can't really answer your questions because there has not been a lot of open discussion between us. I cannot really speak for what their rationale is for freezing our circulating supply.
But this isn't in any way connected to the HitBTC listing? Like HitBTC saying they won't list BTX until the market cap problem is sorted out.

These two issues are completely unconnected.
full member
Activity: 266
Merit: 101
Bitcore (BTX) - The Future is Now
Was there any response when, how and if they would consider the virtual forked coins as circulating supply. As there would be: never, when they are transferred from the fork address or when the fork address' amount is changed in any way?
They can't only say, "Sorry guys, it's done. The supply is going to be frozen forever.". Are they going to at least count the future airdrops into the circulating supply? That's all very strange.
Why do they don't count the virtual fork into the circulating supply? The money is accessible for the ones having the needed private key as every other address on the blockchain. I really don't get on what grounds they're arguing to not count the virtual forked coins. What's the criterium for a coin to be count into the circulating supply. There has to be a definition from their side.

I agree with you but I can't really answer your questions because there has not been a lot of open discussion between us. I cannot really speak for what their rationale is for freezing our circulating supply.
But this isn't in any way connected to the HitBTC listing? Like HitBTC saying they won't list BTX until the market cap problem is sorted out.
full member
Activity: 157
Merit: 100
Done - agree with you, option1 of course!
sr. member
Activity: 794
Merit: 272
full member
Activity: 266
Merit: 101
Bitcore (BTX) - The Future is Now
sr. member
Activity: 794
Merit: 272
Greetings Community,

As many of you know, the Bitcore team have been trying to work through the issues with CMC about our circulating supply being incorrectly displayed. I believe CMC views our "virtually forked" coins to Bitcoin holders to not be in circulation so in response our circulating supply has been arbitrarily frozen at 1,195,602 as of November 6th. Since November 6th, we have tried to establish direct contact and consequently we have been waiting for our circulating supply to be corrected. We are now creating this poll to enlist the help of the community in determining a good solution to the problem. Below is a brief description regarding each option and also the spreadsheet that documents everything from the airdrops, first claiming period, virtual fork, development fund addresses, and even the supply from mining. We stopped the calculations at block 84700 so anything that has occurred after that is not accounted for in the spreadsheet. We hope that you find this poll satisfactory and if you have any questions then please be sure to ask.

Sincerely,

Your Bitcore Team

Option 1: Circulating Supply includes the "virtually forked" coins

This option would essentially mean that all coins not currently controlled by the development team are considered in circulation. The numbers are documented below in the spreadsheet and this would mean the circulating supply would be 9,945,943.897515 as of block 84700. We think that this treatment is very fair since the coins are not in our possession and it is exactly how Bitcoin, Bitcoin Cash, and even additional forks have been calculated by CMC.

Option 2: Circulating Supply does not include the "virtually forked" coins but still all of other coins

This option would not consider the "virtually forked" coins to be in circulation but all other coins would still be counted in the circulating supply. The circulating supply for this option would be 1,625,941.46974566. All additional airdrops and coins mined beyond block 84700 would of course have to be added to the running total.

Option 3: Circulating Supply should be permanently frozen at 1,195,602

This option would mean that our circulating supply, despite any proven numbers, would be permanently frozen at 1,195,602.

https://docs.google.com/spreadsheets/d/1gzHqrDDCHyfBtA4H4wl15VYHQzwwfULcJq1r4JcVnOA/edit?usp=sharing
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