The uncontrollable capitalization of the crypto currency market, the growth of the popularity of coins in society, the division of the economy into before and after became acute issues in the formation of moods among people. About this and many other things we will talk with the creator of Barter And Trade Alternative (BTA)
Thanks for the opportunity to introduce Bata to your readers.
— Tell me, Peter, how did you come up with the idea of making coins?
— Bata was created as a result of early cryptocurrency mining and community involvement. Bata was created to replace trade dollars in a Barter Platform. The name Bata is pronounced as «Barter».
— Today, the leading positions behind such coins as Bitcoin, Ethereum and others. The coinage of coins goes by seemingly to one scheme and on similar platforms, what is the difference between your coin and others?
— Our development plans will differentiate Bata amongst the others. A Foundation is currently planned to be formed, which will enable Bata to achieve our vision of a Barter System, where Bata will feature as the currency of the platform. To achieve our goals and importantly comply with regulations regarding funding, Masternodes will be added to the network, securing and also collecting fees for future development. Once Masternodes are in place Bata will upgrade the blockchain to enable POW/POS, which will give more people the opportunity to obtain Bata.
— Tell us about your development algorithm, how many coins will be extracted?
— Bata’s algorithm is Scrypt. The total amount of Bata to be extracted will be 10 Million BTA ( Over the next 10 years)
— For many reasons, coins that appeared on the market disappeared without a trace. What can your opinion hold on the growth and popularity of coins and what is the importance of social activity in this process?
— The growth of coins needs two important ingredients, 1/ Developers 2/ Supporters. Social Activity is very important.
— In late August, negotiations were held with regulators in Beijing and in early September, the National Bank of China declared illegal operations for ICO — the collection of money by companies in the crypto currency. We watched the fall in the value of coins. Many left the Chinese market to Japan, to America. How did the ban on the rise in the cost of BATA (BTA)
Bata has not been directly affected as we have not had an ICO or premine. Bata was affected in value when Bittrex Exchange suddenly halted Bata as we were looking to introduce a Profit Share Platform which they wanted regulatory approval for. Public perception of Bata hit a low, Bittrex made no statement and we were limited in what we could say as we were seeking legal advice.
— You are more than three years in this business. With many developers, programmers, creators of coins are familiar personally. Predict the longevity of the crypto currency market and your participation in it.
I predict we will see a wave of ICO’s that just don’t exist anymore, much like how certain altcoins disappeared. The Cryptocurrency market is currently driven by speculation and manipulation, much like fiat currencies. 3rd parties will also not be required, as cryptocurrencies will take on a broader role which will be Peer to Peer based.
Bata has set out a 10 year plan, so we expect to be participating in the cryptocurrency community for a very long time.
Thank you, Peter for the conversation