BlogCoin was created to solve some problems that are peculiar to cryptocurrency in Africa. So far, we’ve been able to demonstrate the possibility of t these solutions during our ICO. These solutions are:
-To create a cryptocurrency that can be mined on the African continent by Africans
-To create a currency with a fairly stable value
-To create a currency that can be used on the on the African continent
On June 17, we achieved our aim of decentralisation. What this means is that, the price of BlogCoin will now be determined by the free market movement and you’ll be able to buy and sell BlogCoin in the open market.
But because of the unique mining protocol of BlogCoin, necessitated by the need to make it accessible on the African continent, BlogCoin is currently not listed on the traditional exchange platforms. This will be done when our genesis Blockchain is fully mined, just like STEEM.
It’s for this reason we created our own exchange platform to serve as both an outlet for exchange, demonstrate use case and serve as a vehicle to premine the Blockchain.
The total volume in our Blockchain is 5 million. Once this is all mined, through our TSG reward system, you’ll be able to move your coins to other traditional exchanges.
The TSG reward system is a unique way for mining BlogCoin.
It means Time Shared Growth. Every time you search for and read blog posts on BlogCoin, for a minimum of 120 seconds, you’ll earn 1 TSG. By 12 AM, your TSG is divided by the total TSG accrued on the platform for that day and it’s multiply by 100. This percentage is then applied to your Principal BlogCoin. This is how the amount of BlogCoin you mined the previous day is calculated. And it’s added to your Total BlogCoin wallet
As from 12 AM tonight, you’ll be able to list any amount of your BlogCoin for sale. The current price is determined both algorithmically and latest transaction. Using standard market algorithm, the price is determined by total volume of available BlogCoin, divided by the total volume for sell. The more people sell, the lower the price. You can sell any unit and you’ll be able to buy any unit of BlogCoin.
When buying BlogCoin, you decide how much worth of BlogCoin you want to buy, e.g. 100 Naira worth, the system will automatically calculate how many BlogCoins you’ll receive based on the stated price by the seller
You can not sell below or above the current market price by more than 0.5% of the last transaction.
When you make sale, your money is deposited into your Earnings Wallet, in your chosen currency, from where you can withdraw it into your bank account. TinqSpace International will deposit the money into bank account within 24 hours after withdrawal, excluding weekends and holidays
TinqSpace International has a buyback program for anybody whose coins has spent more than 60 days on sell without a buyer. We will buy back at the ICO price of 1k Naira or its equivalent in dollar. In this case, we’ll buy all the coins of the seller. This program will be activated on September 17.
We’ll be activating our merchant place soon. This is where you can spend your BlogCoin on goods and services. You can also accept BlogCoin for your goods and services.
If you’re a blogger or you have any content you want people to visit, just submit it as a blog post, it could be your Facebook post, or YouTube video, BlogCoin will give you free traffic and you can monitise this traffic by running ads on your content
There will be a special training on how to make money on BlogCoin as a blogger soon
You all have your unique wallet addresses. You can send and receive BlogCoin with your address, as a gift. This is added to your Total BlogCoin and not your Principal BlogCoin. Note that only the percentage of your Principal BlogCoin is mined everyday
Thank you for your time and welcome to the new possibilities. I’ll be attending to your questions. drop it in the comment box