Economic FAQ
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.
Yes. The total supply of the native currency of the bitcoinR network (XBR) will never exceed 21,000,000 units.
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:
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:
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:
A total of 211 blocks were mined on the production bitcoinR mainnet by XBR, LLC and its contract developer DigitalGoals, Inc.
No, we do not "air drop" or "give away" XBR via Twitter or any other social media.
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.
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.
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.
Please use the MSB Registrant Search function provided by FinCEN or click here for a static copy of the PDF.
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:
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.
Please read our mining operations information for an overview. For detailed information, please review our whitepaper.
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.
The bitcoinR network will generate 288 blocks per day.
The bitcoinR "block reward" will be halved every 52,500 blocks.
The bitcoinR network was incorporated as XBR, LLC on 13-March-2018.
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.
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.
XBR, LLC runs on a calendar fiscal year.
XBR, LLC is privately held 100% by Digital Goals, Inc. and is not accepting outside investment at this time.
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