Even though this altcoin has only recently launched, a few close friends have asked me to look into BitMo and do an article about it. Even though it’s way too early to judge the potential of this cryptocurrency at this point in time, we can still take a look at the facts.
Bitmo (XBM) is a 100% green coin, as there will be no actual mining phase involved in order to distribute this coin. Users can opt to mine at the XBM Multipool however, and more information about the multipool/multipools will be released after the XBM ICO ends.
Speaking of the Bitmo ICO, you have seven days to make your investment, of which two days remain as of this writing. In the event of some coins not being purchased, these funds will be sent to a specific address which will effectively destroy the coins.
Worth noting is the fact the BitMo ICO will take place in two stages. The early bird stage will see 2,75 million coins being sold at the price of 1,000 Satoshi per XBM. Stage two is the late bird stage, during which another 2,75 million coins will be sold at the price of 1,300 Satoshi per XBM.
Potential investors will be pleased to know all of the ICO funds will be held in escrow, provided by DevTheDev. The minimum investment per user is 0,05 Bitcoin and the maximum is 5 Bitcoin. An ICO spreadsheet can be found here.
Now the question remains : why should you invest in Bitmo to begin with? For starters, BitMo will feature anonymous (encrypted) messaging, which is built into the client itself, called BitMessaging. Said client will be released on GitHub after the ICO ended.
The BitMo developer is currently also working on porting Litecoin’s Electrum fork, which is currently roughly 50% completed. No official ETA has been provided on when this port will be finished, as a lot of testing needs to be done as well.
In the next three to five days, we can expect an online-hot-wallet for BitMo. We have not received any further details on what this project entails exactly, but we will find out over the coming days, and keep our readers informed accordingly.
Once these two features have been completed, the developer will start working on stealth addresses for BitMo. All in all, some nice features are on the horizon, but it’s up to you to decide whether you think it’s worth investing in or not of course.
Bitmo technical specifications :
Algorithm: X13 hashing algorithms
Retarget Time: 20 seconds
Target Spacing: 60 seconds
Minimum Stake Age: 4 hours
Maximum Stake Age: 24 hours
Max Coins: 5.5M (5,500,000 ICO, 4,500,000 PoS will be distributed over 5 years.)
PoS: Generates 4,500,000 over about 5 years (10%)
If you want to find out more about BitMo, you can use the following sources :
Website : http://bitmo.net/
BitcoinTalk : https://bitcointalk.org/index.php?topic=752060.0
Twitter : https://twitter.com/BitMoCurrency
Facebook : https://www.facebook.com/BitMoCurrency