OTC Sale 

June 2020

Thank you all for the strong support, the NTBC OTC sale has concluded, please do not send Ethereum to any address!

 

Summary: Thanks to the overwhelming support from the community, all three rounds were sold out in minutes. The OTC sold a total of 2.45 billion NTBC and raised a total of 146.5 Ethereum at the current price as of this writing ($239), is approximately $35,013.  

The minimum goal was $20,000 so all of the promised features will be added.  We have been discussing the details with the development team so they are ready to start work on it right away.  Currently, the plan is to break up the development into two smaller cycles so we can deliver something useful and compelling to the community within the next 3-4 weeks, with the rest of the features being finished in approximately 8-10 weeks.  For the time being, we have not yet decided what to do with the funds above $20k, but options are: additional features, additional exchange listing, marketing, and improving hosting capacity.  Whatever we decide on, all the funds raised from this round will go into one or more of those things in order to advance the project.  We will announce further details as they become available.

Everything below is kept as a matter of record, and will be erased after the development cycle is delivered.  

 

 

Please read everything below before you sign up for the OTC sale, failure to follow instructions will result in delays or lost funds!

This page is the only source of official info on the OTC sale, always refer to this and only this page for info and the funding address.  

Current status: 50M blocks of NTBC will go on sale on July 3 at 0800 Pacific Time for 3.1 Ethereum per block.  

Ethereum deposit address: 

0x7b920373F1F4Be92c769599913f64149b26B9b6B

All transactions, including registration will be done through this address.  Always check this page for the valid address.  DO NOT SEND ETHEREUM TO ANY OTHER ADDRESS.  

Updates:

July 7:

Thank you all for the strong support, the NTBC OTC sale has concluded, please do not send Ethereum to any address!

July 3: 

Thank you once again for the amazing support, the second round was sold out in minutes. 

 

The final round for 20 blocks of 25M NTBC for 1.7 Ethereum each will start on July 7, 2020 at 0800 Pacific Time.  Same rules as before, first come, first serve, anything deposited before 0800 will not result in a purchase and will need to be refunded.  Please double check the times, as refunds take time and may not get back to your address before the blocks are sold out.

I'll round out the account to 112.5 Ethereum, and the sale will end when qualifying purchases reach 146.5 Ethereum. 

July 1:

Thank you all for the strong support!  All 12 blocks of the 100M Notes were sold out in minutes.  The sale for 15 blocks of 50M NTBC each will open up at 0800 Pacific Time on July 3, 2020. 

 

This gives everyone at least one full day of notice regardless of time zone they are in.  Same rules apply, first come, first serve, and any deposits recorded as before the opening time will not result in a purchase.  66 Ethereum was raised from sale of 1.2B NTBC so far, and 55 Ethereum had to be returned due to early deposits.  Ethereum received from unregistered addresses will experience delays or may not get returned at all.  

 

I will remove any excess above 66 Ethereum, so the sale for 15 blocks at 3.1 Ethereum per block will end when there is 112.5 Ethereum in the account.  You can deposit in multiples of 3.1 Ethereum from your registered address, no need to make multiple deposits.  When this round is finished, we will then repeat for the last set of NTBC blocks for sale.  

June 29: 

All registered buyers have received an email with the subject: "You are successfully registered for the NTBC OTC Sale".  First 12 deposits of 5.5 Ethereum (or multiples of 5.5) will result in a sale.  Make sure to only deposit from your registered Ethereum address, otherwise someone else can claim to have made the deposit.

If you did not receive that email, it means your registration has not been completed. 

 

Any funds sent from an unregistered Ethereum address could be lost or take days to be refunded.  

June 25:

-Registration will close at 5PM Pacific Time on June 30

-Purchases for the first 12 blocks of 100m Notes will start on July 1, at 0800 Pacific time.  Orders will be filled in the order received on the Ethereum address.

-Transfers into the Ethereum address at anytime before 0800 will not result in a sale, the funds will be returned to registered address in 24 hours.  Funds sent from unregistered addresses will not be returned until after the sale is finished!

-The smaller blocks will go on sale after the process for 100m blocks are finished and will be announced on this page.

-Removed the requirement to verify Note address

-Do not send 0.00223 Ethereum as given out in the EXAMPLE.  I will reply to your initial email with a different and unique number to send. 

 

June 23:

-Do not send Ethereum from an exchange address, there is no guarantee they will use the same address next time and your purchase will not go through.  

-We are not able to take orders, the blocks will be sold based on the order in which transactions are received in the Ethereum address, after the start date of each block.

For those that are not familiar with the Note Blockchain project, here is quick background on the project and the premine. 

 

Background:

I first heard about Bitcoin when it was trading sub 1 dollar, but like most, I dismissed it completely. I finally entered the market in terms most would describe as "late" in Q3 of 2017. Once I learned the basics of Bitcoin, I couldn’t stop learning about it from anyplace I could: YouTube, Whitepapers, Mining, etc.  I saw and believed in the potential of blockchain technology. I started off mining and getting involved in several projects as a community member. This taught me a lot about the crypto industry. The frustration came from lack of movement in a few fair launch projects, while many ICO's under delivered on their promises or never delivered any product at all.

The fair launch projects still had huge potential, so I remained hopeful. One thing that I immediately came to realize is that everyone from miner to investor was essentially betting on the developer. This adds a lot of pressure, and in some cases, a point of failure for some projects as the stress becomes too heavy a burden on the developers. The driving force behind any project is the development team, and once I decided to create Note, I knew that there had to be another way. This is how the premine came to be.

Many in the community have brought up the premine as a concern, that is fair. I would like to take a moment to address this publicly so that everyone can see and hopefully understand our reasoning for it. This project up to this point has been 100% funded out of pocket. I knew that when we got through the debut stages of development that we would need to have funds accessible to further add to the features list for this application in order to continue to grow. This is why the decision was made for such a large premine. There is no intention to dump into the markets. We will sell off portions of the premine in stages to continue to fund the development of this project. Welcome to stage 1.

The concern about the premine is seen as a legitimate concern for investors, but the premine is necessary in order to keep moving forward. We did not raise ICO funds for this, as I have said, it has been funded out of my own pocket and there are many 10's of thousands of dollars invested into this already. The goal of both myself and the team is to create a social media platform that will capture 20% or more of the market share over the very long term.

 

A new business model:

We will do this by leveraging the features of blockchain to use a completely new business model in social media, one that will never take fees from users or profit by selling user data.  Our users will get all the revenue generated from their content, time, data, and attention.  This is made possible because the transaction fees on the blockchain are minuscule compared to traditional methods of payment.  Our long-term revenue stream will come from providing value added services to businesses.  

To say we aren't in this to make money would be a lie, but we will always be transparent with our users.  We have budgeted to make sure the basics are covered for years to come, all of the funds raised from this stage will go towards development.  The features we want to add with this funding cycle are as follows:

  • Direct Messaging with tips enabled

  • Group Chat with tips enabled

  • The ability to play YouTube videos via in app posts

  • Repost 

  • Scheduling posts within the application

  • Setting personal reminders on each profile

  • Native referral system​

With all of this planned to be added, you can see that this is quite the upgrade to our existing system. We are also very excited about a new proof of concept feature, but we will announce that when it is completed. These features and updates are not cheap, so with that being said I will now discuss the details of the fundraising sale.

 

Transparency:

The sale will be conducted with Ethereum, and all funds will go to one address, so the whole community can easily verify how much has been raised.

There will be 47 blocks of coins allocated in amounts ranging from 25m to 100m and the breakdown is as follows:

  • 12 blocks of 100m NTBC will be sold at 5.5 Ethereum per block.

  • 15 blocks of 50m NTBC will be sold at 3.1 Ethereum per block

  • 20 blocks of 25m NTBC will be sold at 1.7 Ethereum per block

 

As the price is pegged to Ethereum, both the price movement risk and benefit will be taken on by the Note project.  As long as the raise meets the minimum target, the development cycle will proceed, and the features listed above will be delivered.  No refunds or discounts will be given due to price movement of Ethereum. 

 

I always suggest everyone DYOR as this is a relatively new space still and hopefully you will see the opportunity that sits in front of you today.

For those who wish to participate in the sale, this website will be the only source of official information.  Be aware of scammers that try to direct you to send funds to their addresses!  Sending Ethereum to an address other than what is listed here will result in lost funds!

Fraud Prevention:

Because the address and transactions are visible to anyone, we will need to prevent scammers from claiming a transaction was theirs and direct the Notes to an unauthorized address.  To accomplish this while still providing the transparency to the community, each perspective buyer will have to do the following:

  1. Email eshen@notebc.com to state intent to purchase and one Ethereum address and one Note address to register.

  2. I will ask the buyer to send a random small transaction for less than $1, for example: 0.00223 Ethereum and 3.58 NTBC.  Send the exact amount to verify you are the owner of the addresses to have them registered.  The registration amount is not refundable.

  3. Once registered, the email address, Ethereum and Note addresses are linked, and any purchases from the registered Ethereum Address will go to the linked Note address. 

  4. To protect the buyers, the addresses cannot be changed later!  A confirmation reply will be sent, and that will lock the buyer’s Ethereum address to the Note payment address.  Make sure it is the correct address and you have the keys to access it.

Registration start and end dates will be announced via Note, Twitter, and Discord.  All announcements will point you to this website for official information.  Any source that points you elsewhere are scams and should be ignored.

 

Buying:

Once again, these are the blocks for sale:

  • 12 blocks of 100m NTBC will be sold at 5.5 Ethereum per block.

  • 15 blocks of 50m NTBC will be sold at 3.1 Ethereum per block

  • 20 blocks of 25m NTBC will be sold at 1.7 Ethereum per block

Once the registration period ends, the start of the sale will be announced.  All announcements will ask you to refer to this website for official information. 

To keep it simple, the largest blocks will be sold first.  From your registered Ethereum address, you can send Ether in multiples of the sale price.  For example, if you want to buy 3 blocks of 100m NTBC, and you already registered and received a confirmation, then simply send 16.5 Ethereum to the public address given out at www.notebc.com/otc Within 24 hours of receiving the funds and 35 confirmations on the Ethereum block explorer, the corresponding amount of Notes will be sent to the address linked with the Ethereum address.  NTBC will be sent out in order of Ethereum received. 

 

In case you deposited Ethereum after all 12 blocks have already been sold, your Ethereum will be returned to the registered address within 48 hours.  The auction for the first 12 blocks will last until all blocks are sold, or 48 hours after the last block was sold.  Then another announcement will start the buying period for the 15 blocks of 50m NTBC, and the same process is repeated.  Then once more for 20 blocks of 25m NTBC. 

Ethereum sent from unregistered addresses will not result in a sale, and a refund may or may not be issued at my discretion.  Refunds for Ethereum sent from unregistered addresses, will not start until the entire sale process is finished, minus any transaction fee and a 0.1 Ethereum handling fee.  Do not send funds from an unregistered Ethereum address. 

 

In summary, the steps are:

  1. Register your email, Ethereum address, and Note address with eshen@notebc.com with the subject "OTC registration"

  2. Announcement will point to this page regarding dates of sale for each block size

  3. Double check the Ethereum address from www.notebc.com/otc

  4. Deposit Ethereum from your registered Ethereum address into the Ethereum sale address

  5. Wait for 35 confirmations, NTBC will be sent within 24 hours of the completion of the 35 confirmations, and in the order of Ethereum received

  6. Oversold blocks of each block size from registered Ethereum addresses will be returned within 48 hours.

 

Success/fail criteria and contingency plan:

Based on the blocks available and the uncertainty of how long they will take to sell, the auction schedule will be updated daily.  In case the blocks sell quickly, we will move onto the next set of blocks.  In case they sell slowly, then the sale will take longer until there are no orders for 48 hours.  

The minimum goal is to raise 110 Ethereum.  Anything at and over this amount is considered a success and the development cycle will proceed.  No refunds will be issued if the goal is reached.

If for some reason we fall short of our goal, we will then proceed to seek other forms of funding in order to keep moving forward.  We would once again like to thank you all for your support in our project as we keep marching towards our goals.

Disclaimer:

There is no guarantee the Notes will hold their value; the price is market driven and Notes could lose value. 

The purchaser is responsible for the security of the coins purchased; we highly recommend using a desktop wallet to keep the Notes secure. 

Buying the premine Notes does not entitle the buyer to any portion of the parent company.