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It is fully decentralized, with no central bank and requires no trusted third parties to operate. It will also pay you interest for simply parking your coins for set time period. Mining Pools will be announced soon.
Bitcoin Interest is the continuation of the Bitcoin project as peer-to-peer digital cash. It is a fork of the Bitcoin blockchain ledger with upgraded consensus rules that allow the user to earn income from their parked coins.
If you held Bitcoin at the time Bitcoin Interest was created you received a 1 to 1 swap from Bitcoin to Bitcoin Interest. This means that Bitcoin holders at block now have the same amount of Bitcoin Interest as they had in Bitcoin. If your Bitcoins are stored by a third party then you must inquire with them about your Bitcoin Interest coins. Any transactions after block ledger split are completely separate between Bitcoin and Bitcoin Interest. This means any Bitcoin acquired after the split does not include any Bitcoin Interest , and any Bitcoin Interest does not include any Bitcoin.
You must first register for an account on the Bitcoin Interest website. You can park your coins by choosing an interest pool cycle of either Weekly or Monthly. If you happen to join the interest pool round after it has started you will only be eligible to receive interest for the remaining days. If you move your parked BCI coins out of your wallet before the interest pool round has ended, you will not receive your interest payment. Yes, your parked BCI coins are safe.
You can park your BCI coins from your desktop wallet and our system will check your assigned BCI address to make sure your parked balance has not changed. Bitcoin Interest will never hold or control your BCI coins, you are always in full control of your holdings! Bitcoin Interest addresses will start with either the letters i or A to clearly distinguish from Bitcoin addresses which start with 1 and 3.
This will prevent people from mistakenly sending to incorrect addresses. The legacy Bitcoin code gives you no rewards for holding your coins while most financial options offer you the opportunity to generate interest on your savings. Bitcoin Interest was created to provide you with a safe, decentrilized and profitable alternative for storing your wealth.
Bitcoin interest will retain 1. Funding the monthly interest pool for the first year with the following amounts: An extensive marketing campaign to promote early adoption of Bitcoin Interest. Continuous Bitcoin Interest improvements and development costs. Paying ongoing server maintenance costs. Another option would be to transfer your BTC to an exchange that will be supporting the Bitcoin Interest fork at launch and simply hold your BTC there. They should credit your account automatically after the fork.
Please contact the exchange to ensure they will be supporting the BCI fork. What is Bitcoin Interest? Enter Your Email For Updates: Thanks for filling out the form! Technology Bitcoin Interest is built using the latest technology, focusing on speedy frictionless transactions.
Community Our community recognizes that to have a viable and robust ecosystem that the miners must be treated with fairness and respect. Savings Our advanced savings technology allows our coin holders to safely park their coin holdings in their own wallets. Storing your wealth in Bitcoins translates into missing out on one of the most significant benefits of traditional banking: Users can now earn interest payments in a decentralized manner by parking their Bitcoin Interest "BCI" coins for a set period time.
Here's how it works:. This is achieved through what we call, "Enhanced Proof of Work" using the Equihash algorithm. The interest pool reward will start at 1. This setup will ensure that interest payments are always available for those that choose to participate in parking their BCI coins.
The interest rate depends on two things: After parking your coins, our system will continuously check to ensure that they are parked for the entirety of the interest round. Select Create New Offline Transaction. A window will open with the unsigned version of the transaction. Load the file from the USB key, then press the Sign button.
A confirmation window will appear. Verify the confirmation details before you sign it! Click Save to file….
Eject the USB key and plug it into the online computer. If the original window is still open, you can click on Next Step to get to the broadcast window. If you closed Armory since then, you can use the same Offline Transactions button on the main window, and select Sign or Broadcast Transaction. Once the file is loaded, some green text should appear telling you that the signature is valid and the Ready to Broadcast!
Guidance is given at each step within the Armory software, so you may be fine without referring back to this page. And once you do this a few times, it will become a breeze! At no point in this process is any private data exposed through the transaction data. It is perfectly safe to transfer the signed or unsigned transaction via email. The biggest threat to an offline wallet is a USB-key virus that executes when plugged in.
However, such viruses would have to be highly targeted, and can be mostly mitigated by disabling USB-auto-run on the offline computer. So, how do you calm your nerves about using such advanced features? Try it out with small amounts of Bitcoins. Whether it takes you a day or a year, you will eventually come to realize that offline transactions really do work. Make a new wallet as described above, but you must make a backup. A digital backup is fine if you make a couple copies, just in case one becomes corrupted.
Generate some addresses by clicking on Receive Bitcoins a few times. Write down the first few letters of each address generated. Why did we just delete it? If you can restore the backup once, you can always restore the backup at any time in future. On the main Armory window, click on Import Wallet in the upper-right corner, and select the type of backup you are restoring.
Generate some addresses with the new wallet. Check that they are the same as the addresses you wrote down earlier. Import the watching-only wallet on your online computer. Generate a few addresses and compare to the ones you wrote down earlier. I bet you are starting to feel better… Transfer 0.