Bitcoin Oil

The New Bitcoin Fork from Switzerland

Bitcoin Oil (BTCO) is the official name of Bitcoin’s 2019 PoS hard fork which will implement a whole range of long overdue Bitcoin improvements based on the “Optimally Improved Ledger” (OIL) technology. The centerpiece of BTCO and its OIL will be the highly innovative "SSPSS" strategy focusing on the development and implementation of essential Bitcoin improvements in the fields of Stability, Sustainability, Privacy, Smart Sidechains, and Scalability (or "SSPSS").

About Bitcoin Oil

BTCO hard fork is launching in 2019.
1
Stability
Minimizing Bitcoin’s volatility (i.e. by creating an incentives-based economy).
2
Sustainability
Drastically reducing Bitcoin’s insane energy consumption (i.e. by altering the consensus protocol to PoS).
3
Privacy
Implementing true privacy features (i.e. by enabling confidential transactions).
4
Smart Sidechains
Empowering Bitcoin based ICOs and STOs (i.e. by employing full smart contract functionalities).
5
Scalability
Developing cutting-edge scalability solutions (i.e. by complete integration of layer 2 protocols and offline transactions).
Bitcoin Oil (BTCO) is a new cryptocurrency based on the original Bitcoin blockchain technology which will be launched in 2019. The implementation of BTCO hard fork will create the most technologically advanced version of Bitcoin.

Core Principles

Stable Currency

BTCO will provide price stability through BTCO holders' loyalty.

Energy Saving

BTCO will implement PoS and solve Bitcoin's energy consumption problems.

Privacy Protection

BTCO will make the privacy protection of its users a top priority.

Sidechain Mothership

BTCO will be the mothership for numerous sidechain applications.

Unlimited Scalability

BTCO will create unprecedented PoS based scalability solutions.

Capped Supply

BTCO will be a deflationary cryptocurrency with limited supply.

Low Fees

BTCO will introduce extremely competitive transaction fees.

Instant Transactions

BTCO will feature instant transactions with immediate execution.

Open Source

BTCO will be open source and available for review and verification.

Community Made

BTCO will be launched by and for members of the Bitcoin community.

Concentrated Decentralization

BTCO will use the advantages of a concentrated ICO to create decentralization.

Concerted Effort

BTCO will use its proceeds to finance a concerted major development effort.

Why a hard fork?

Decentralized governance remains a huge issue and one of the main problems for Bitcoin in the future. When 95% supermajority of miners is required for the approval of change and only a few core developers could decide about Bitcoin Improvement Proposals (BIP) review and innovation, many years pass without innovation or improvements. Therefore, Bitcoin Oil has decided to end this innovation backlog by centralizing change. We believe "it takes a revolution to make a solution", and important improvements can only be accomplished in a timely manner as a result of a concerted action, which is why Bitcoin Oil has organized itself as company and has chosen the means of a hard fork to accomplish the wide range of innovations identified in our SSPSS strategy. It would probably take forever to get something as complex as our SSPSS innovations done in this long-winded BIP structure. Imagine what Bitcoin Oil's highly talented team of developers could accomplish in a few months or half a year, as after the ICO our team will have access to more developers than Bitcoin and our developers will be encouraged to fast-track all key developments without this lengthy BIP formalities. Hence, we will take several of Bitcoin's most promising pending BIPs and add several more of our own BIPs and create an unparalleled wave of innovations in such a short time, that the world will be able to choose between two versions of Bitcoin, one of which is still looking at a whole range of pending innovations and one of which will have already incorporated all of these (and many more) improvements.

Need for Change

Mass adoption is one of the main objectives of Bitcoin Oil's strategy, and in order to accomplish a meaningful market penetration rate, various key Bitcoin improvements can be considered mission critical in order to eliminate the following weaknesses and flaws of Bitcoin:
  • High price volatility and no reliable stability mechanisms
  • No intrinsic value and a lack of valuable coin holding incentives
  • Insane energy consumption and environmentally unfriendly
  • Very limited privacy protection and absence of anonymity
  • No smart contract functionalities and token creation features
  • Scalability problems and a limited amount of possible transactions
  • Slow confirmation times and inability to process quick transactions
  • Huge transaction fees leading to congestion in the network
  • Long-term security implications of its hashing SHA256 algorithm

Our Solution

Our solution will resolve Bitcoin’s innovation backlog and create a truly groundbreaking Bitcoin based blockchain technology. In this sense, it is very important to understand that Bitcoin Oil – unlike Bitcoin – will not have to follow the lengthy and protracted BIP procedures which make rapid change almost impossible. Contrary to that inhibitor of innovation, Bitcoin Oil has straight forward agreements in place with some of the largest blockchain and Bitcoin development companies in the world, which will be commissioned by us to build Bitcoin's 2019 BTCO fork and all subsequent improvements thereof.


Hard Fork

  • Forking an identical copy of today’s Bitcoin (BTC)
  • Adding various BTC’s long-pending BIPs
  • Including several more proprietary improvements
  • Launching the most advanced Bitcoin version
  • Distributing BTCO coins to all BTC coin holders

Stability

  • Massive reduction of market price volatility
  • Creating market price stability mechanisms
  • Implementing an economy of incentives
  • Rewarding coin holders, stakers, participants - Generating constant passive income streams
  • Generating constant passive income streams

Sustainability

  • Replacing BTC's PoW by BTCO's PoS algorithm
  • Eliminating Bitcoin's insane energy consumption
  • Ensuring a clean and environmentally friendly conscience
  • Establishing independence from electricity supply
  • Developing very competitive transaction fees

Privacy

  • Realizing anonymization strategies to protect privacy
  • Preventing tracing and ascertaining of sender's IP addresses
  • Enhancing on-chain privacy for senders and recipients
  • Increasing competitiveness by adding confidential transactions
  • Advancing tools such as Schnorr signatures, MAST, etc.

Smart Sidechains

  • Building innovative duplex micropayment channels
  • Enabling ICOs and STOs on our Bitcoin-based blockchain
  • Facilitating incentivized and enforced execution of smart contracts
  • Representing decentralized autonomous applications worldwide
  • Integrating numerous other platforms with a 2-way peg

Scalability

  • Featuring layer 2 protocols and off-chain computations
  • Boosting the amount of possible network transactions
  • Altering transaction size and frequency limitations
  • Amplifying throughput without placing extra demand
  • Researching further scalability solutions like sharding

The Vision

One day, all people on this planet (and beyond) will have the opportunity to use cryptocurrencies, realizing the full potential of decentralization in general and Bitcoin in particular, to drive a new era of economic change, growth, productivity, and prosperity. Therefore, Bitcoin Oil's mission is to create a better future for all by utilizing the unparalleled benefits of cryptocurrency and the amazing opportunities of an improved version of Bitcoin. In order to accomplish such a complex process of change, a certain amount of temporary centralization will be required, which is why Bitcoin Oil develops its highly innovative BTCO hard fork. As key element of this strategy Bitcoin Oil focusses on its intention to "go green" by utilizing the Proof of Stake (PoS) protocol to solve Bitcoin's serious energy consumption problems and related issues. We have an opportunity as Bitcoin Oil to mitigate, for the first time, a significant concern that cryptocurrency users have regarding a large amount of electric energy consumed by Bitcoin miners.

Downloads

For more information regarding all additional technical details and specifications please review our forthcoming white paper and yellow paper both of which will be released shortly, once our team has completed its white paper and yellow paperwork and approval process. In the meantime, please read our Light Paper and our Pitch Deck.

Our Advantages

The implementation of the BTCO hard fork will create the technologically most advanced version of Bitcoin. The centerpiece of BTCO and its "Optimally Improved Ledger" (OIL) will be the highly innovative "SSPSS" strategy (Stability – Sustainability – Privacy – Smart Sidechains – Scalability) focusing on the development of superior Bitcoin improvements. All innovations will be implemented by world-leading developers, creating huge opportunities and enormous potential for all BTCO participants and the entire Bitcoin community.

Our forthcoming 2019 hard fork has many advantages and will implement a whole range of long overdue Bitcoin improvements based on our “Optimally Improved Ledger” (OIL) technology.


Superior Technology

Bitcoin Oil‘s technology and features will be superior to Bitcoin‘s current blockchain.

Proven BIPs

Bitcoin Oil‘s developers will implement various important and long overdue BIPs.

Leading Developers

Bitcoin Oil‘s team of developers and external partner firms provide world-class resources.

Enormous Potential

Bitcoin Oil offers an enormous potential for early adopters and future use cases.

ICO

In order to implement all predetermined Bitcoin improvements in a relatively short timeframe, Bitcoin Oil has straight forward agreements in place with some of the largest blockchain and Bitcoin development companies in the world, which will be commissioned by us to build Bitcoin's 2019 BTCO fork and all subsequent improvements thereof. A significant amount of all ICO proceeds will be used for these technological developments (both front-end & back-end and hardware & software).
ICO Structure: Bitcoin Oil's ICO is structured in three rounds which followed the initial seed rounds: the private presale, the public presale, and the ICO sale.
Pricing and Bonuses: The bonus for the private presale is 85%, the bonus for the public presale are expected to ranges from 55% to 75%, and the bonus for the ICO sale are expected to ranges from 15% to 45%.
Amount of Proceeds: Based on the assumption that all three rounds of Bitcoin Oil's ICO would be entirely sold, the total amount of gross proceeds are expected to be approximately $102,000,000.
Split Adjustment: To optimize fungibility and tradability (and avoid the Berkshire Hathaway share price problem) BTCO implements a computed 1:1,000 "forward split" resulting in a BTCO coin price divided by 1,000 and a maximum supply multiplied by 1,000 (compared to BTC), based on a predetermined BTC price of US$1,000.
Maximum Supply: The maximum amount of BTCO that will ever exist in the lifetime of the cryptocurrency will be 21,000,000,000 (21 billion) BTCO (capped supply).
Total Supply: The total amount of BTCO in existence at its launch after the ICO sale will be 5,000,000,000 (5 billion) BTCO.
Circulating Supply: The number of BTCO that will be circulating in the market and in the general public's hands will be 3,000,000,000 (3 billion) BTCO.
Reserve Amount: A total of 2,000,000,000 (2 billion) BTCO will be temporarily held by Bitcoin Oil (e.g. to increase network safety by making, for example, any 51% attack much harder) and released to the community (e.g. in form of reward payments) as decentralization increases over time.
Distribution of BTCO: Bitcoin Oil will allocate a fair share of its total supply to all current Bitcoin (BTC) holders. Please note: Bitcoin Oil will never ask you for your private keys; for further details regarding details and procedures, please review our forthcoming white paper.
Use of Proceeds: A significant amount of all ICO proceeds will be used for these technological developments (both front-end & back-end and hardware & software); for further details regarding the detailed use of proceeds, please review our forthcoming white paper.
In addition, figures, mechanism, manners and any transactions described above relating to public presale or ICO sale may be different in or absent from and additional figures, mechanism manners and any transactions relating to public presale and ICO sale may be added in the final version of the White Paper.

How to Participate

Currently, Bitcoin Oil is in the process of conducting its private presale of certain promissory notes in the aggregate principal amount of US$1.5 million, payable in BTCO upon the completion of the ICO. Bitcoin Oil has invited its network of "friends & family" purchasers and early-stage development partners and others to participate in the private presale which is expected to close in the second half of March 2019. The private presale will be completed in one or more transactions outside the United States in accordance with Regulation S of the Securities Act of 1933, as amended, and in the United States only to purchasers who are "accredited investors" within the meaning of subparagraph (a) of Rule 501 in reliance on Regulation D of the Securities Act of 1933, as amended. In addition, the offering and sale of the notes and the delivery and distribution of the notes or BTCO may be restricted by laws in certain other jurisdictions. Bitcoin Oil may, from time to time, revise the foregoing mechanics to comply with regulatory requirements or other governmental or business obligations as Bitcoin Oil deems appropriate or desirable under the circumstances.

Request Private Presale Info

Pricing and Bonuses


The bonus for the private presale is 85%

The bonus for the public presale are expected to ranges from 55% to 75%

The bonus for the ICO sale are expected to range from 15% to 45%

Roadmap

The following roadmap represents an overview of the past one and a half years since Bitcoin Oil's inception and an outlook to the future (including key milestones as we expect them to happen):

November 2017

Platform Idea
The origin of Bitcoin Oil's blockchain platform idea. Development of the concept of our overall business plan.

January 2018

Elaboration of Platform
Elaboration of Bitcoin Oil's blockchain platform. Integration into a suitable legal model for various jurisdictions. Attracting internal investments from existing partners to pre-finance the initiative. Development of a pilot paper for circulation.

June 2018

Internal Fundraising
Attracting of further investments from existing partners. Preparation for Bitcoin Oil's company formations. Additional team building.

August 2018

Attraction of Advisors
Attraction of key international advisors. Further development of the Bitcoin Oil platform concept. Preparations for technical details.

September 2018

Technical Details
Development of partnerships for technical details. Agreements with key partners and partner companies. Development of more detailed briefing documents.

October 2018

Preparing for ICO
Formation of Bitcoin Oil's Advisory Board. Internal start of platform concept development. Begin of ecosystem specifications (involving partners). Attending key crypto events for strategic meetings.

November 2018

Preparing for ICO
Additional preparations for ICO. Engagement of additional legal advisors. Continue the concept development for the platform. Ecosystem specifications continuation (more partners involved).

February 2019

Hiring Campaign
Begin of Bitcoin Oil's hiring campaign to increase team. Signing LOIs with key blockchain partner firms. Adding more people to the Advisory Board.

March 2019

Starting Private Presale
Receiving additional funding as part of the private presale. The release of the first Light Paper. Building a developer alliance to support our developments. Working closely with highly specialized Bitcoin development companies.

April 2019

Conducting Public Presale
Launching the Public Presale of BTCOs. The release of the first white paper. Attending more crypto events and presenting to investors. Preparation for BTCO listings on cryptocurrency exchanges.

May 2019

Launching ICO
Conducting the ICO sale for BTCO. The release of the first technical yellow paper. Development of further Bitcoin Oil specifications. Definition of Bitcoin Oil integration with partner applications. More detailed briefings of functionality development.

Q2 2019

Internal Beta Release
Internal Platform Beta release. Internal Web Wallet and Mobile Wallet Beta versions. Working on the integration of feature releases. Continuation of an active development process. Continuing preparation for BTCO listings on cryptocurrency exchanges.

Q3 2019

Hard Fork
The launch of Bitcoin's BTCO hard fork. Distribution of total BTCO supply to all coin subscribers. Conducting distribution of BTCOs to all BTC holders in connection with the hard fork. BTCO listings on various non-U.S. cryptocurrency exchanges. The release of the final version of the technical yellow paper. Further development of additional improvements.

Q4 2019

Further Developments
Additional development of more complex improvements. Involvement of specialized partners to develop certain features. BTCO listings on additional non-U.S. cryptocurrency exchanges.

Q1-Q4 2020

Implementation Additional Features
Introduction of our peer-to-peer micropayment platform. Presentation of our integrated e-commerce solutions Implementation of additional and more complex new features. Further development of additional improvements.

Q1-Q4, 2021

Further Developments
Implementation of additional and more complex new features. Further development of additional improvements.

Development Team

Fortunately, Bitcoin Oil will not have to follow the lengthy and protracted BIP procedures which make rapid change almost impossible. As outlined before, Bitcoin Oil has straight forward agreements in place with some of the largest blockchain and Bitcoin development companies in the world, which will be commissioned by us to build Bitcoin's 2019 BTCO fork and all subsequent improvements thereof. So, Bitcoin Oil is in the process of implementing a threefold development approach by integrating in-house development teams, outsourced individual developers, and large blockchain development companies, thereby enabling Bitcoin Oil to ensure the availability at all times the resources required for its continued technical implementation process. Therefore, Bitcoin Oil recently announced details of its plan to partner with top-rated blockchain development companies to roll out its strategic plan and roadmap, including the forthcoming Proof-of-Stake ("PoS") based Bitcoin hard fork. Ahead of this hotly anticipated milestone, Bitcoin Oil has already launched a hiring campaign with several new job postings being published on the internet for its internal team of developers. At the same time, Bitcoin Oil built partnerships with more than a handful of well-known blockchain development companies in different countries to become development partners for Bitcoin Oil's technical blockchain developments providing a workforce of several hundred developers.

News

Bitcoin Oil Creates Coin Price Stability Through Hodlers Rewards

BTCO believes that the Hodlers Rewards program will likely reduce the price volatility of BTCO, which in turn will result in BTCO being a uniquely-positioned cryptocurrency that will become more useful as a medium of exchange and a reasonable stable store of value. Hence, BTCO is creating stability through an economy of incentives with an improved structure of Bitcoin’s blockchain enhanced with entirely new algorithms and technologies.

Read More...
Bitcoin Oil Partners with Crypto Development Companies and Launches Hiring Campaign

Bitcoin Oil has launched a hiring campaign while at the same time partnering up with a handful of well-known blockchain development companies in order to carry out Bitcoin Oil’s technical blockchain developments. Bitcoin Oil plans to implement a threefold development approach by integrating in-house development teams, outsourced individual developers, and blockchain development companies, thereby enabling Bitcoin Oil to ensure the availability at all times the resources required for the company's continued technical implementation process.

Read More...
Bitcoin Oil Launches Limited Private Pre-Sale and Exclusive “Founders 300 Club”

Bitcoin Oil today announces its plan to offer to a limited number of qualified purchasers, or “Private Purchasers,” certain promissory notes in the aggregate principal amount of $1.5 million through Bitcoin Oil’s holding company. The foregoing note sale is referred to as the “Private Pre-Sale”. A public pre-sale of Bitcoin Oil is expected to follow the Private Pre-Sale, to be followed by the ICO thereafter.

Read More...
Bitcoin Oil Considers Price Stability The Pathway to Bitcoin Mass Adoption

Bitcoin Oil announces further details of its “Optimally Improved Ledger” (OIL) business plan to create an all-new Bitcoin blockchain technology, and to create an asset-enhanced, stability-enhanced Bitcoin cryptocurrency under the name Bitcoin Oil, or “OIL” as an abbreviation. Besides its intentions to “go green”, by utilizing PoS consensus and discontinuing the energy consuming PoW protocol, Bitcoin Oil’s team considers price stability and drastically reduced volatility as the pathway to Bitcoin mass adoption.

Read More...
Bitcoin Oil Announces Its Intentions To Go Green Solving Bitcoin's Energy Consumption Problems

Bitcoin Oil, or the Company, announces its plan to create a highly innovative Bitcoin fork and generate crypto-assets which the Company refers to as Bitcoin Oil, or OIL. In addition, Bitcoin Oil also announces its intentions to “go green” by utilizing the Power of Stake, or PoS, protocol to solve Bitcoin's serious energy consumption problems. Says Hannah Paddock, Bitcoin Oil's CMO.

Read More...
Bitcoin Oil Announces Planned Bitcoin Fork Featuring PoS and Other Key Bitcoin Improvements

Bitcoin Oil (“the Company“) announced today its plan to launch the Bitcoin Oil fork, a new major fork upgrade to the Bitcoin blockchain network. The company intends to use "OIL" as an abbreviation for Bitcoin Oil, which stands for “Optimally Improved Ledger”, implementing several crucial improvements to Bitcoin’s existing distributed ledger platform.

Read More...

Exchanges

Bitcoin Oil’s team is in touch with several cryptocurrency exchanges (also very well-known ones) and we expect support from various platforms for our forthcoming BTCO hard fork (more details will be announced in due course). Besides these customary exchanges, Bitcoin Oil prepares multiple applications and day-to-day trading opportunities for BTCO, including but not limited to P2P-Micropayments, P2P-Markets, E-Commerce, ICOs/STOs, ATMs, BTCO Credit Cards, Gift Cards, and larger Exchange Platforms. If you have any questions or inquiries regarding the future listings of BTCO at leading exchanges or any other platforms, please feel free to contact us at [email protected].


Different Ways to Trade Bitcoin Oil

P2P-Micropayments

P2P-Markets

E-Commerce

ICOs/STOs

ATMs

BTCO Credit Cards

Gift Cards

Exchange Platforms

Crypto Exchanges

Wallets

Our wallets will be available soon, and more wallets will follow (also from well-known third-party wallet providers who we are currently talking to). If you have any questions or inquiries regarding our wallets, please feel free to contact us at [email protected]. Please note: Bitcoin Oil will never ask you for your private keys; for further details regarding the BTCO airdrop procedures, please review our forthcoming white paper.


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