Frequently asked questions about the Orbitcoin :
Is Orbitcoin free of charges ?
Yes. Orbitcoin is free of charges and will always be. The Orbitcoin wallet is free of charge. It's a part of the Orbitcoin DNA, to be open-source and free for anyone to use.
Most of the ORB transactions are free, however, In rare cases, transaction fees (0.01 ORB) are collected by the network to process large transactions. These fees are then re-integrated into new minted blocks.
Is using Orbitcoins legal ?
The answer is depending on your country's national legislation. We know that some country are trying to restrict the use of cryptocurrencies, but most of the time governements can only shut down or block online exchanges. Trying to forbid the use of cryptocurrencies by the people would be by essence very difficult for a governement. We never heard of any countries that actually managed to do it.
However, in many countries, taxes may apply on your holdings. We suggest that you check your local tax laws for an exact answer.
Who is owning Orbitcoins ?
A lot of people own Orbitcoins, most of them are holding their coins and are currently generating interests from these holdings. Ghostlander, the coin's lead developper, is controlling what we call the advencement fund. It's a 150K ORBs fund used only for the coin promotion.
What makes the differences between Orbitcoins and Bitcoins ?
In its goals, in its technical design and team members, Orbitcoin differs from the Bitcoin. There are many reasons to explain why it is actually better, but two main points must be highlighted :
- Unlike the Bitcoin, the Orbitcoin generates interests from your holdings.
Just like a traditionnal bank, holding Orbitcoins actually generates interests over time, new coins on your accounts. This proof-of-stake system helps securing the network and pushes ORB owners to hold their coins.
- The Orbitcoin doesn't require a lot of energy.
Bitcoin mining and the Bitcoin network are by design consuming drastic amounts of electricty to operate. The Orbitcoin, by its technical specifications, has been designed with low energy consumption in mind.