Business
First Bitcoin Capital Corp to Buyback Shares Utilizing the ICO -Internet of Money (XOM) It Acquired From Active CrowdSale; $BITCF’S ALTCOIN ICO Success Results In Revenues For Second Quarter 2017; Completes Move Of Common Shares From Its Own Blockchain
First Bitcoin Capital Corp to Buyback Shares Utilizing the ICO -Internet of Money (XOM) It Acquired From Active CrowdSale; $BITCF’S ALTCOIN ICO Success Results In Revenues For Second Quarter 2017; Completes Move Of Common Shares From Its Own Blockchain.
About this update from First Bitcoin Capital Corp.
[{"type":"text","content":"VANCOUVER, BC / ACCESSWIRE / July 3, 2017 / CoinQX Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF or \"Company\", \"We\", \"Us\" or \"Our\") acquired the \"Internet of Money\" tokens which should eventually trade under the cryptocurrency symbol \"XOM\" from an Initial Coin Offering (ICO) which continues to run on the Omni Layer Protocol. Not unlike many of the cryptocurrencies that First Bitcoin Capital Corphas generated, including its first ICO -Altcoin (ALT), the Internet of Money(XOM) coins ride on the rails of the Bitcoin Blockchain utilizing the OmniLayer Protocol. As a result of this crowd-sale acquisition we will allow BITCFshareholders to exchange their shares for XOM. While XOM is not yet tradedagainst any other digital or fiat currency, the buyback will be executed at arate of 2 BITCF shares for 1 XOM token. This offer is open to shareholders so long as our supply of XOM tokens is sufficient to accommodate those shareholders wishing to make the exchange. The shareholders that elect to make this exchange will be granted a 5 years option to exchange back to shares at the rate of 1 XOT token to 1.9 BITCF shares during the first year, 1.8 BITCF shares the second year, 1.7 shares BITCF the third year, 1.6 BITCF shares the fourth year and 1.5 BITCF shares the final and fifth year. In order to participate, shareholders will receive further details by notifying us of the amount of shares they would like to exchange via email: [email protected] The company reserves the right to close out this buyback offer on or before July 18 2017. REVENUES anticipated in the second quarter. The Company is pleased to announce that its first ICO, Altcoin (ALT) has generated substantial revenues. First Bitcoin earned 13,406.27953322 ALT tokens which is currently valued at approximately $300,000 today according to Coinmarketcap.com and should this value hold up at day's end it will substantially increase the company's digital cash reserves as well as contribute to net earnings.NEW BLOCKCHAIN FOR COMMON SHARESThe Company also completed moving trading of its cryptoshares onto a new blockchain using a managed protocol. This is a significant move because it not only ends mining which resulted in unnecessary dilution but adds BIT as an independent cryptocurrency to the company's coffers and potenti...