Tag Archive for: migration

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The Scotcoin Project CIC new ERC20 token is now ready for deployment

Scotcoin migration bonus period closing

I am pleased to say that as the Counterparty servers have now come back up in a stable manner, we have been able to migrate most of the people who were trapped in limbo. If you have not yet done so please send us your V2 coins as soon as possible.

PLEASE NOTE if you have already sent your V2 or even just sent us your migration form, you are safe for receiving the bonus. If you have already received your ERC20 SCOT, then you do not require to do anything more.

We will hold the bonus period open for a few more days BUT IT WILL CLOSE on 30th. NOVEMBER 2020

Thereafter, you will still be able to migrate from V2 to the new ERC20 SCOT, but without any bonus.

In addition, the offer that was made to SPFL season ticket holders will close on the same day.

Please note that all crypto coins are into an upswing with Bitcoin and Ethereum leading the charge.

Starting in the New Year we will be working towards listing on an exchange, and we will keep all stakeholders informed of progress.

The Scotcoin Project CIC new ERC20 token is now ready for deployment

Scotcoin migration to ERC20 SCOT

I am delighted to report that Counterparty and Freewallet are now running normally after a very large upgrade which has taken more than two weeks.

As a result, we have sent out the quantities of Bitcoin that were ordered to effect the migration to the receiving wallet.

Please now send your V2 Scotcoin to the receiving wallet.

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You will still qualify for the bonus as long as you have sent in your form. If you have any questions, please email me [email protected]

SPFL initiative

We will be closing this on November 30th, so if you have not applied yet, please do so as soon as possible. All SCOT will be sent after the closing date.

Microsoft Edge

For anyone who uses the Microsoft Edge web browser the Metamask plug in is now available on the Microsoft app store  https://microsoftedge.microsoft.com/addons/detail/metamask/ejbalbakoplchlghecdalmeeeajnimhm?hl=en-US&s=09

Scotcoin partners

If you have a service or product you would like to offer in exchange for Scotcoin, please get in touch. Bear in mind our focus is on the charity sector so anything that can help with that would be particularly welcome. If you have competition you are looking for prizes for, please get in touch.

Counterparty is back up

Counterparty is back up. You can now migrate your V2. We will be sending all BTC orders as soon as possible and as the exchanges will be very busy with new transactions, please just keep trying if you can’t succeed at first.

The Scotcoin Project CIC new ERC20 token is now ready for deployment

Identifying the senders of V2 SCOT

We have a number of transactions where we have been unable for a variety of reasons to identify the senders of V2 SCOT.

If you have sent us coin but have not heard back from us please send the following information to [email protected]

1) Your name
2) Number of V2 sent
3) Wallet address from which V2 was sent.

Please be assured we have a note of all V2 received and once verified you will be sent your ERC20 Scotcoin including the bonus.

In the meantime thank you for your continued support.

Migration update

Our migration is going well and we are now nearly two thirds of the way through. 

As from 1st October 2020 we will be increasing our exchange price to the equivalent of £50 per 1000 for our ERC20 Scotcoin. 

Our exchange is at https://exchange.scotcoinproject.com

The Scotcoin Project CIC new ERC20 token is now ready for deployment

Scotcoin migration

We have now completed the first full month of our migration to our new ERC20 Scotcoin..

Please remember that means you only have TWO MORE MONTHS to 31st October 2020 to register to receive the bonus. We very much want everyone to be eligible for the bonus so would urge anyone who has not yet registered to make a few minutes available to double your holding.

Please be aware if you don’t have any Bitcoin in your wallet from which you wish to migrate your coin, you can buy from our exchange. Be aware that as the costs of Bitcoin transactions have soared, we are currently charging a fee of £5 per transaction to cover this.

Please find below the email we have sent to all holders, together with the form that is required to be completed for migration.

As always please address any questions to [email protected].


As you are aware TSPCIC has been committed to creating a new and more user-friendly Scotcoin for some time. After prolonged consideration and feedback from numerous stakeholders, funders and advisors we have settled on using the Ethereum blockchain as it satisfies the five original criteria laid down by the funders. These criteria are:-

1. an efficient and cost effective migration process,
2. a robust blockchain solution,
3. an un-issued coin surplus (for distribution and reward),
4. better access to regulated secondary markets and 
5. a reliable delivery partner assuring durability and longevity.

Adoption of the Ethereum blockchain assures that Scotcoin remains a bona fide distributed ledger cryptocurrency whose future sustainability is not in the hands of a few.

We are now ready to start the migration process we have outlined in previous communications.

We should make it clear at this point that there is no compulsion on any holder of ScotcoinV2 to migrate to the new coin and if you do not want to, you should not do so.

If you decide to migrate you will be required to do so with your entire holding of ScotcoinV2. Partial migrations will not be acceptable.


Those wishing to migrate will first have to record their details with us. You can do this by completing and submitting an application form which can be found at https://scotcoinproject.com/migration/

If you have previously completed a KYC (Know your customer) and AML (Anti Money Laundering) check with TSPCIC you will not be required to do so again.

In addition to receiving the new ERC20 tokens (ScotcoinV3) in exchange for your existing ScotcoinV2 tokens, the director and advisors of TSPCIC have determined that a 1 for 1 bonus will be payable to holders of ScotcoinV2 subject to certain conditions.

The date from which migration will start is 1st August 2020. This is called Mday (migration day). On Mday, all ScotcoinV2 token holders will have three months from that date to submit their migration forms. The bonus will only be available for those three months after which it will be withdrawn. Accordingly, the last date for registering to receive the migration bonus is 31st October 2020. Migration can still be done but without the bonus after that date.

By way of example only, a ScotcoinV2 holder with 1,000 tokens will receive 2,000 new ScotcoinV3 tokens in exchange for his V2 tokens.

ScotcoinV2 tokens acquired on or after Mday will be not eligible for the migration bonus but will be able to migrate.

IMPORTANT NOTICE:

You will need an Ethereum wallet to receive your new ScotcoinV3 tokens. If you already have a hardware Ethereum wallet please provide details of your wallet address for credit on the form provided. Your tokens will be credited to this address.

If you do not have an Ethereum wallet you will have to open one and provide us with your wallet address. The following information may be helpful but if you are unsure on how to open a wallet you should seek professional advice.

HOW TO OPEN AN ETHEREUM WALLET:

There are various ways to create an Ethereum wallet and the most straightforward is Metamask. It integrates directly with your browser and they have a very good two minute video showing the entire process https://www.youtube.com/watch?v=GNPz-Dv5BjM
Metamask is currently not available on Apple devices as it is on a limited trial. Once that trial is over it is possible Metamask will work very well on Apple devices. It works well with Firefox, Chrome and Brave.

WE ALSO HAVE VARIOUS VIDEOS ON OUR YOUTUBE CHANNEL AT: https://www.youtube.com/c/scotcoinproject

MyEtherWallet is one of the first Ethereum wallet projects and is another trusted solution. Refer to their knowledge base at https://kb.myetherwallet.com/en/getting-started/how-to-create-a-wallet/ and decide if you want to use their website, phone app or extension.

Whatever solution you choose, your wallet must be ERC20 compatible (as the two recommended wallets above are).

FOR THE AVOIDANCE OF DOUBT, PLEASE BE AWARE IT IS YOUR RESPONSIBILITY TO ENSURE YOU PROVIDE US WITH YOUR CORRECT WALLET ADDRESS, AS TOKENS SENT TO A WRONG ADDRESS PROVIDED BY YOU CANNOT BE RE-SENT.
NEVER GIVE ANYONE YOUR PASS PHRASES FOR ANY OF YOUR WALLETS. WE WILL NEVER ASK YOU FOR THEM.

Best wishes,

The Scotcoin Project Team
[email protected]