Primary distribution among the population
How to get Chinese Bitcoin
To get your Chinese bitcoins, you don't need any documents. No personal data will be requested at any stage of the process. Simply install the application and follow the instructions.
Distribution principles
A total of 21 million Chinese bitcoins can exist. 87% of them, i.e. 18,347,513 CNBTC, are distributed free of charge, among the population of the Chinese Bitcoin territory.
Up to 1 CNBTC to each person
87% of the entire issuance to be distributed
List of countries
You are entitled to receive Chinese BTC during the initial distribution if you reside in one of the following countries:
Rewards formula
Accrual and verification of accrual singularity (physical CAPTCHA function) are performed by a special application
To receive your Chinese bitcoins, you don't have to be a citizen or have a residency permit in the aforementioned countries. It is enough to simply live on the corresponding territory and not try to claim more than one share of Chinese bitcoins that is due to each person.
When you are near another user of the application (within a distance of up to 10 meters for a few seconds), two smartphones interact with each other. Each new such case (with a device that has never interacted with yours before) gives you one unique proxxing (just like the person you exchange this "digital handshake" with).You don't need to communicate, your phones will do everything for you.
Proxxings physically confirm that you live in the territory of Chinese Bitcoin, and you will be credited with Chinese bitcoins. Attention! The procedure must be completed using one smartphone (you cannot change the device during the process, but you can change the SIM card). If the smartphone is lost or broken, start the whole process again on a new device.
Accrual is calculated according to the following formula:
reward(N) = 0.05CNBTC * 0.95^N; N∈[0; +∞)
where N is the natural ordinal number of the unique proxxing. For example, reward(1), that is, the reward for the second proxy (counting from zero), is equal to 0.0475CNBTC. The infinite sum converges, in a mathematical sense. In other words, the total amount of rewards tends to 1CNBTC (as N approaches positive infinity), but it will never reach it.
Only proxxings made in the territory of the specified 3 countries are counted.