Concept

 

A PoW Simulator utilizing NFT smart contracts & Built on Solana, one of the world's leading blockchains. Become the owner of Simulated Crypto Miners with (mNFT)s, based on Satoshi’s original vision! Let's take a journey in this Bitcoin Simulator, become part of the crypto community and help shape the future of NanoBitcoin together. Can you & your community overcome the hurdles Big Daddy BTC did and gain Real World Value? Join The Great NanoBitcoin Experiment & find out today! Experience the sudo infancy of crypto, with the Early Adoption Launch! Collect and Spend nBTC or help its adoption by introducing embedded payment systems in games. The choices are boundless & yours for the taking!

 

Simulator

​Its purpose is to simulate Bitcoin's proof of work mechanism.
Each NFT will represent a 100Th/s, 3000 watt NanoBitcoin ASIC, designated an (mNFT). 
Minted mNFTs represent an “inactive” NanoBitcoin ASIC miner.
An "active"  NanoBitcoin ASIC miner has paid a monthly "power bill".
One mNFT uses 0.01 SOL per month, once paid the mNFT is active for 30 days. 

The block difficulty is represented in the total number of (mNFT)s minted vs the total number of "active" (mNFT)s.
There will be an unlimited supply of mNFTs. 
The price of an mNFT is denominated in USDC and is 1000th the real time price of Bitcoin.

The Smart Contract will execute every 10 min & randomly pick a minted "active" mNFT.
Then mint & airdrop the "block reward", (x) nBTC tokens, to the current address of the mNFT picked.

 

NOTE: the "power bill" address will be the same address used to pay for the NanoBitcoin smart contracts to operate.
 

NOTE: Cost to send nBTC, there is only the Blockchain gas fees (Sol), with no plans to give NanoBitcoin its own gas fee.

However once 90% of the total supply is vMined a 1.5% Tax will be applied to all nBTC transactions, simulating a gas fee. All collected tax during a block will be included with the block reward.
 

NanoBitcoin Miner NFT (mNFT) 

• Unlimited supply

• 1000th of the price of BTC

• Power Bill - 0.01 Sol per month

An oracle will be used to peg the price of each mNFT to 1000th of the Average Global Price of BTC.

Example: at the time of writing BTC is @ $16,700 USDC therefore one mNFT would be priced @ $16.70 USDC.

 

NanoBitcoin Token

• 21 billion Max supply

• Block Time - 10 minutes

• Starting Block Reward - 50,000 nBTC

• Block Reward Halving - Every 4 years

• nBTC can be broken down into 8 decimal places, with the smallest being a nSAT or NanoSatoshi.

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Number of Smart Contracts Needed:

Smart Contract 1: mNFT Management Contract (Minting and Power Bill Payment)

This contract will handle minting, transferring, and managing the mNFTs, including activation based on power bill payments.
Smart Contract 2: nBTC Token Contract (Minting and Block Rewards)

This contract will manage the creation, minting, and distribution of the nBTC tokens. It will handle block rewards, ensure halving every 4 years, and keep track of total supply, for the implementing the gas tax mechanism.
Smart Contract 3: Price Oracle Contract

This contract will fetch the price of Bitcoin in USDC and make it accessible to other contracts (like the mNFT contract) that need it.

Smart Contract 4: Governance/Execution Fee Contract

This contract would be responsible for automating the execution of the entire system and paying the operational fees.

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NanoBitcoin Profits​

This is comprised of the USDC funds received in exchange for minting mNFTs.

• 10% to BCHC LLC

• 90% will go to secure Bitcoin (BTC) for our MiniDEX until we reach 210 BTC. This will insure that every (1 nBTC) is backed by (1 SAT).

This is comprised of the SOL received in exchange for "power".

• The "Power Bill Pool" will remain locked until it reaches an excess of 55 thousand SOL, at which point BCHC LLC will deploy a validator node on the Solana Mainnet.

• Once a year the staking rewards will be used to boost the NanoBit Arcade's funding, to secure RWI for the redemption site, and to be made available to help support community developers.

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