Dear Funder,
Thank you for taking a moment of your time to read through our Letter of Assurance a few days ago. We are reflective about many of your reactions and feedback via WhatsApp, Telegram and the Blog.
We find a majority of them very insightful, encouraging and some keenly instructive. Even so, we can’t thank you enough for your understanding, prayers and loyalty.
As previously stated in that letter, we will be launching our Initial Coin Offering. Just before we do that, we want you, our esteemed and loyal customer to be the first to enjoy the Pre-ICO deal.
This deal will only occur through a migration process that will run for a week. During this process, you will be able to convert your current BBNcoin to a Blockchain-based BBNcoin.
Why Blockchain? We know you always wanted to ask. So here’s the simple answer. Blockchain is reputed as the standard for trust when it comes to Cryptocurrency because it promotes transaction transparency, reduces fraud and ensures efficacy.
And here are the main features of your BBNcoin being on Blockchain.
· Personal
· Simple
· Secure
During the forthcoming Pre-ICO, you will notice and experience a decrease in the number of your BBNcoins. This is by no means a loss or shortage of your current BBNcoin. Rather, this is merely a conversion exercise that will ensure you can readily convert your BBNcoin to Bitcoin or any other *hot coin (* cryptocurrency coins, that will also be made know )
In short, your BBNcoin will be more valuable being on Blockchain and by so, you stand to gain rather than lose. Hold on! You will see the full breakdown below.
So what is investment? Usain Bolt has won 9 gold medals in the last 3 Olympics and he has run less than 2 minutes on the track. This is called economy of effort.
Usain Bolt ran for less than 115 seconds in total in his 3 Olympic participations and made $119 million dollars! That’s more than $1 million for each second he ran. But for those 2 minutes, he trained for about 20 years! That’s investment.
Investments generally require us to think long term and possess some stamina for patience. It’s no(not) different in cryptocurrency. The least we can ask of you is to urge you to remain steadfast as you have done these past months, as we are 3 feet away from gold. With your support and success of the ICO, we are optimistic that it will be well worth the wait.
About The Pre-ICO
The Pre-ICO will be available to all existing Funders to take part. During the Pre-ICO, Funders will be given the opportunity to convert their existing coin in their wallet to the New BBNCOIN developed on Blockchain.
The Breakdown: Activities to Note for the ICO Process.
01 Benefit Of Conversion
02 Pre ICO Duration
03 ICO Proper
04 Public ICO Period
05 The Future Of BBNcoin
06 How To Convert Your BBNcoin To Bitcoin
07 BBNcoin On Exchange
08 The Value Of BBNcoin After ICO
09 Why BBNcoin Convert From ₦ To $
10 BBNcoin Technology
01 Benefit Of Conversion Of Old Coin To The New Coin
- Your coin becomes an asset which will appreciate in value over time
- You can exchange your BBNcoin on an exchange platform where BBN is registered
- You can keep your BBNcoin to appreciate in value
- You can exchange your BBNcoin with other cryptocurrencies
- The transactions on www.bbncoin.net are transparent.
02 Pre ICO Duration
Pre-ICO is a period in which Funders are allowed to convert their Old BBNcoin to the New BBNcoin via www.bbncoin.net.This will take place for 7 days, starting from 22 /11/17 to 29/11/17
03 ICO Proper
After the Pre-ICO, BBNcoin will be launched at the international market for all other proposed would-be BBNcoin holders. The ICO shall will place from the 30/11/17 - 29/1//18. Meanwhile, within this period, all trading will be suspended on www.app.boonbuy.net till the end of ICO.
04 Public ICO Period
2 months
Start Date: 30/11/18
End Date: 29/1/18
05 Future Of BBNcoin
BBNcoin will also be used for different transaction such as E-Commerce, Funds Transfer, and also to acquire Real Estate assets.(etc)
06 How To Convert Your BBNcoin To Bitcoin
After the ICO, BBNcoin will be available on exchangers worldwide such as Bitfinex, YObits, Cryptopia, HitBTC, BBN Marketplace etc. After the ICO,(and) Funders can approach any of the exchanger platforms to collect either Bitcoin or other alt coins.
07 BBNcoin On Exchangers
After the ICO BBNcoin will be registered on other exchanges worldwide, which will be available for traders
08 BBNcoin Value After ICO
Currently, BBNcoin is valued at $2.70 per 1 BBNcoin. After ICO the value will be determined by traders and it is mostly based on demand and supply.
09 Why BBNcoin Is Converting From ₦ To $
The Dollar is the standard currency for most international transactions. Since BBNcoin will be selling its coin at the international market and the dollar value has to be known for all other countries who wish to buy the coin. During the process of conversion, all Funders’ BBNcoin will be divided by 1000 and the BBN value will be $2.70
For example, 100,000 BBNcoins divided by 1000 = 100 BBNcoins X $2.70 = $270. You will then convert this to Naira equivalent, which will give you around N97,065 (based on current value of Dollar – Naira, which is $1 – N359) Remember, this value can either appreciate or depreciate
10 BBNcoin Technology
Technology always creates two contexts; how you can do things better and what you can do. Below is the technological specification on how BBNcoin was developed.
BBNcoin Specification
- Coin Algorithm (*PoW)
- Coin Abbreviation: BBN
- Maximum Coin Supply: 100 million
- Coinbase Maturity: 1Block
- Total PoW (Proof of Work) Block: 183
- PoW (Proof of Work) Block Reward : 20 BBNcoin
- Block Spacing : 15 Secs
- Maximum Block Size: 8388608
Do not forget to remind your friends and other co-Funders to participate in the migration exercise, as this is vital to moving forward with us to the next trajectory of our journey.
Again, the BBNcoin in your kitty is an asset. As with most assets, they usually appreciate in value over time.
Expect more updates.
We are moving forward. Yes we are! Thank you for choosing Boonbuy.
We will triumph.
BBN Team
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