PEER TO PEER
PAYMENT
PROTOCOL
for the micro-economy
MICROBITCOIN
MICROBITCOIN

FAQ


General

  • Where can I get information about MicroBitcoin?
  • Can I get MicroBitcoin airdrop when I have Bitcoin in my exchange wallet?
    MicroBitcoin airdrop via exchange wallet is subject to the exchange policy and is not responsible for the MicroBitcoin open source community contributors. Our community has announced that it has been hard forked in the 525,000th block to exchanges all over the world. Please contact the exchange for airdrop through exchange wallet.
  • Where can I check MicroBitcoin’s source code and update?
    You can check it from official GitHub repository of MicroBitcoin
    https://github.com/MicroBitcoinOrg
  • How can I contribute to MicroBitcoin Hardfork Open Source Project?
    You can contribute to the project by :
    Participating as a developer or reporting or editing software bug
    Participating in Blockchain network and compose nodes
    Various community activities through official Discord Channel
    Advertising MicroBitcoin on social media such as Twitter and Facebook
    Translating the white papers or the announcements
    Producing contents about MicroBitcoin

    Participation is available in a various way.
  • What is Open Source?
    It refers to a project that source code is transparently opened, so anyone can join the community and contribute to it. MicroBitcoin proceeds the project with voluntary developers from all over the world. Anyone can freely join the community to contribute, and the community is developed from the participation and contribution of the members. MicroBitcoin community takes count of philosophy and value of Open Source.
  • Is MicroBitcoin an ICO project?
    No, it isn’t. MicroBitcoin is a Bitcoin open source hard-fork project. MicroBitcoin has been hard forked at block number 525,000.
  • What about the transaction speed of MicroBitcoin?
    The transaction speed of the MicroBitcoin is between 1 and 3 seconds, and it is the same or faster than paying by credit card.
  • What happens after the supply is exhausted?
    The total amount of MicroBitcoins is set at 210,000,000,000 and is not issued after the supply is exhausted.
  • When was MicroBitcoin created?
    MicroBitcoin was created by hard-forking on May 30, 2018, and has not existed before. It is a cryptocurrency which is different from the cryptocurrency of the same name.
  • What is a hard-fork?
    Hard-fork means updating by changing the main function of the blockchain. If you go through hard-fork, it has not been compatible with the previous version. MicroBitcoin is a hard-forked cryptocurrency in Bitcoin and a new cryptocurrency that is separated from Bitcoin.
  • What is the difference between Bitcoin and MicroBitcoin?
    MicroBitcoin is a hard-forked cryptocurrency from Bitcoin, which was created to inherit the philosophy of Satoshi Nakamoto, the founder of Bitcoin, and to complement some of the problems of Bitcoin. Bitcoin has a slower transaction speed and a higher transaction fee, so it is difficult to use for small payments in real life. MicroBitcoin reduces the transaction fee by increasing the total supply by a ratio of 1: 10,000 to the Bitcoin, reducing the block time to one-tenth of Bitcoin, enlarging the block size by adopting the segwit protocol, so it allows you to send MicroBitcoin at the same rate as you pay by credit card.

How to get MBC

  • How can I get MicroBitcoin?
    MicroBitcoin is air-dropped at a rate of 1: 10,000 to those who hold Bitcoin at block number 525,000 and you can also get MicroBitcoin through mining or bounty. It is also possible to trade through the exchange.
  • Can I get MicroBitcoin airdrop when I have Bitcoin in my exchange wallet?
    MicroBitcoin airdrop via exchange wallet is subject to the exchange policy and is not responsible for the MicroBitcoin open source community contributors. Our community has announced that it has been hard forked in the 525,000th block to exchanges all over the world. Please contact the exchange for airdrop through exchange wallet.
  • How can I mine MicroBitcoin?
    The MicroBitcoin is a Proof of Work (PoW) algorithm that anyone can mine through node participation. For information on how to install the node, refer to the node installation guide:
    https://medium.com/microbitcoinorg/microbitcoin-nodes-setup-guide-b166d8c619f7

Wallet

  • How and Where can I install MicroBitcoin wallet?
    MicroBitcoin is available with web wallet and Android wallet. iOS wallet will be launched soon.
    Web wallet
    https://microbitcoinorg.github.io/wallet/
    Android wallet on Google Play
    https://play.google.com/store/apps/details?id=com.microbitcoin&hl=en
  • Is it possible to restore the wallet?
    The restoration of a wallet is possible if you remember “RECOVERY PHRASE” which was used when you create MicroBitcoin wallet account. RECOVERY PHRASE is usually composed of around 18 words. Taking note of RECOVERY PHRASE and keeping it safe are recommended. It’s a responsibility of users to lose RECOVERY PHRASE of MicroBitcoin individual wallet.
  • I transferred with RECOVERY PHRASE my wallet form the old mobile wallet to the new mobile wallet, but I failed to import my wallet. What is the problem?
    You should check out the RECOVERY PHASE is right. RECOVERY PHRASE usually consists of 18 words; there is each space between words, and there must be no space behind the last word.
  • Can I use the old mobile wallet and the new mobile wallet together with a same seed phrase?
    It is not recommended to use several wallets with the same seed phrase. Especially, do not use the old wallet and new wallet together with the same seed phrase.
  • I have sent MBC very well with the old mobile wallet but cannot send MBC with the new mobile wallet. What is the problem?
    Firstly, you should check if your transaction fees are too little. Secondly, you should remove the old wallet if you successfully transferred your wallet into the new wallet.

Where to use MBC

  • Where and how can I use MicroBitcoin?
    MicroBitcoin is designed to be used for real-life micropayments, and we plan to increase the number of places where MicroBitcoins can be used. The MicroBitcoin open source community is aimed to make MicroBitcoin be used practically and diversely and plans to expand its use through contributions and collaborations from contributors.
  • Where is accepting MicroBitcoin at the moment?
    KACW(Korea Association of Care Workers): http://www.kacw.or.kr/shop/
    The Jell: https://blog.naver.com/jellwine