Economic FAQ
How do I buy XBR?
Neither XBR, LLC or Digital Goals, Inc. will sell XBR virtual currency units direct to persons or entities. All XBR virtual currency units must be purchased through a Virtual Currency Exchange.
Is the supply of XBR limited?
Yes. The total supply of the native currency of the bitcoinR network (XBR) will never exceed 21,000,000 units.
How many XBR are generated per day?
The number of XBR generated per day is a function of the number of blocks the bitcoinR network produces per day (288) multiplied by the Era Block Reward (EBR). You can see the current status of the bitcoinR network, including blocks mined using our block explorer.
For additional detail, please review the XBR Mining Projection Chart:
How will the price of XBR be stabilized?
XBR, LLC reserves the right to "burn" or "release for sale" (with proceeds donated to charity) a pre-determined amount of XBR currency units for the purpose of stabilizing value in a manner consistent with expected or the projected value of the XBR currency unit. This action is similar to the Quantitative Easing (QE) and Quantitative Tightening (QT) conducted by central banks. Additional detail follows:
- This operation shall be referred to as "XBR Open Market Operations" or "XBR OMO."
- The total number of XBR escrowed for XBR OMO is 8,400,000 XBR, or 40% of the codified supply hard cap of 21,000,000 XBR currency units.
- XBR OMO shall not initialize until after the XBR PoW mining period has initialized.
- The initial XBR OMO decision shall be announced 1-JUL-2020.
- XBR OMO decisions will be taken on the first calendar day of each quarter, for a minimum of 16 successive quarters.
- The number of XBR currency units per quarterly OMO decision that can be released from escrow shall be limited to a range of 0 to 500,000.
What is the bitcoinR block reward amount?
In Reward Era One, the reward for maintaining consensus on the bitcoinR network via mining a block is 100 XBR currency units. This "block reward" will be halved every 52,500 blocks. For additional detail, please review the XBR Mining Projection Chart:
How many bitcoinR blocks were mined by XBR, LLC?
A total of 211 blocks were mined on the production bitcoinR mainnet by XBR, LLC and its contract developer DigitalGoals, Inc.
Are you giving away XBR on Twitter?
No, we do not "air drop" or "give away" XBR via Twitter or any other social media.
Is XBR guaranteed to hit $1,000 USD per unit?
Absolutely not. It cannot be guaranteed that market demand will form for the XBR virtual currency unit; as such, XBR may never achieve monetary value.
Is bitcoinR legal?
There are 195 countries on Earth; thus, it is difficult to comprehensively answer this important question. Suffice it to say, bitcoinR is legal anywhere Bitcoin Core is legal. If it is legal in your country to buy, own and transact in BTC, it is safe to assume XBR falls under the same legal construct.
This chart provided by Perkins Coie LLP’s Blockchain Technology & Digital Currency industry group is a great overview on a per-country basis.
Why is bitcoinR considered to be a "regulated" currency?
bitcoinR via XBR, LLC has self-selected into government regulation in the largest capital market on the planet as a means to encourage participation with and faith in the bitcoinR network and associated XBR currency by individual citizens and regulated entities such as banks, financial services firms and insurance companies. You can learn more about our comprehensive compliance program here.
THE UNITED STATES GOVERNMENT HAS NOT "ENDORSED" "APPROVED" "SANCTIONED" OR MAY OTHERWISE EVEN BE "AWARE" OF XBR LLC, BITCOINR, XBR DIGITAL CURRENCY OR DIGITAL GOALS INC. OUR RELATIONSHIP WITH THE US GOVERNMENT IS ENTIRELY THROUGH FILINGS WITH THE US SECURITIES AND EXCHANGE COMMISSION AND THE US TREASURY (FINCEN & IRS) AND TO OUR KNOWLEDGE THE US GOVERNMENT HAS NOT AFFIRMATIVELY REVIEWED OR APPROVED ANY ASPECT OF OUR FILINGS NOR IS THERE ANY FUTURE EXPECTATION THAT SUCH REVIEW OR APPROVAL IS CONTEMPLATED OR FORTHCOMING.
How do I get a copy of bitcoinR's U.S. Treasury (FinCEN) filings?
Please use the MSB Registrant Search function provided by FinCEN or click here for a static copy of the PDF.
Is bitcoinR different than Bitcoin?
Yes, they are different. bitcoinR is a fork of Satoshi Nakamoto's original Bitcoin design; so, there are many similarities, but also some very important differences:
- bitcoinR has a decentralized consensus model and a centralized governance model, whereas Bitcoin Core has both a decentralized consensus and governance model.
- bitcoinR via XBR, LLC is regulated by the U.S. Treasury as a Money Services Business (MSB), Bitcoin Core is not regulated.
- bitcoinR has escrowed XBR currency units to use for the purpose of Open Market Operations (XBR OMO) to assist in stabilizing the price of the XBR currency, Bitcoin Core has not reserved units for BTC quantitative easing or tightening.
- bitcoinR uses a more frequent difficulty-retargeting algorithm to ensure mining difficulty is adjusted based on analysis on a granular, per-three-block basis (every 15 minutes); Bitcoin Core readjusts difficulty every 2,016 blocks (or every 14 days).
Is bitcoinR secure?
Bitcoin forks, in general, are inherantly secure; bitcoinR is no different. Security issues are primarily borne of human interaction and errors in judgement. Most cryptocurrency is stolen due to social engineering attacks, phishing and weak system security.
XBR, LLC strives to adhere to cybersecurity recommendations put forth by the National Institute of Standards and Technology (NIST), a unit of the U.S. Commerce Department. The 2018 revised edition of the NIST cybersecurity framework can be found here.
The XBR, LLC owned nodes for the bitcoinR network operate in eight geographically disparate locations: New York City, San Francisco, Toronto, London, Frankfurt, Amsterdam, Bangalore and Singapore. With this level of fault-tolerant redundancy, we expect that the bitcoinR network is unlikely to falter.
How do I mine bitcoinR XBR currency units?
Please read our mining operations information for an overview. For detailed information, please review our whitepaper.
What is the time between bitcoinR blocks?
The bitcoinR network is designed to produce a block every 300 seconds. This block creation time is 50% shorter than the time necessary to generate a block on the Bitcoin Core network.
How many bitcoinR blocks are generated per day?
The bitcoinR network will generate 288 blocks per day.
What is the bitcoinR block halving rate?
The bitcoinR "block reward" will be halved every 52,500 blocks.
When was bitcoinR incorporated?
The bitcoinR network was incorporated as XBR, LLC on 13-March-2018.
Where is bitcoinR headquartered?
Both the XBR, LLC headquarters and "seed nodes" for the bitcoinR network are located in the United States of America. We are incorporated in the beautiful, enlightened & pro-blockchain state of Wyoming.
How many employees does bitcoinR have?
A single individual governs XBR, LLC; it was incorporated specifically for the administration and regulatory compliance of the bitcoinR network. Initial and ongoing technology development was and is conducted and coordinated by Digital Goals, Inc. and select sub-contractors.
What is bitcoinR's fiscal year?
XBR, LLC runs on a calendar fiscal year.
How can I purchase bitcoinR stock?
XBR, LLC is privately held 100% by Digital Goals, Inc. and is not accepting outside investment at this time.
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