DUNEDIN, Fla.--(BUSINESS WIRE)--EPIC Corporation (OTC PINK: EPOR) (“EPIC" or “Company”) and Ronald S. Tucker announced “if you are a Crypto Buyer and you want a usable digital currency, buy EPIC Silver Coins starting February 11, 2019.”
Previous Statement
Previously, on January 14, 2019, EPIC announced that it would commence selling EPIC Silver Coins on January 31, 2019. However, because we are developing the link between the selling software and base software for the deposited silver and the digital currency it is necessary to extend the commencement date of February 11, 2019.
EPIC Accomplishes Principal Objective
On October 15, 2018, EPIC Corporation announced that it is entering the cryptocurrency world with the development of a digital currency (“EPICcoin”) that could be used in commercial and financial transactions and could be bought and sold in EPIC’s EPICcoin Exchange.
EPIC with Tensleep Financial Corporation, its subsidiary, developed a methodology to establish a usable digital currency based on the following criteria:
- The digital currency must represent a precious metal that has a variable but stable value.
- The purchaser of the precious metal must choose to convert the precious metal into the digital currency.
- The title of the precious metal must pass from the seller to the purchaser, and the purchaser then transfers the title and deposits the precious metal to an independent non-profit organization for the account of the purchaser.
- The independent non-profit organization has title to the precious metal but possession of the precious metal with an independent, licensed, and insured custodian. This means the precious metal cannot be redeemed by the purchaser nor sold or otherwise transferred by the non-profit organization.
- The purchaser of the precious metal will become a member of the non-profit organization and the non-profit organization converts the precious metal to digital coins.
- The number of units of the precious metal held in the custodian’s inventory must be equal to the corresponding number of equal units of the outstanding number of digital coins.
- There must be an established market place for buying and selling the digital coins.
- The digital currency is not be a speculative investment.
- The precious metal must be affordable and at a cost below one thousand dollars.
- The digital currency must be a coin that can be used to purchase minimum priced products or services.
- The software accounting for the digital currency and the precious metal must be easy to administer and for the purchaser to use. Blockchain software will not provide the ease of use that is necessary for the accounting of the digital currency and precious metal.
About EPIC
EPIC is a different kind of crypto company. It and its subsidiaries have developed a methodology that creates a usable digital currency enabling consumers to purchase basic products and services from standard retail and wholesale companies, including its subsidiaries EPIC Online Brokers, LLC and EPICcoinEx™ LLC.
Digital currencies must have and maintain a relatively stable price to be used in financial and commercial transactions. Cryptocurrencies generally are not a usable digital currency, because of their extreme price fluctuations. The price fluctuations create a lack of confidence, acceptance, and utilization in mainstream commercial and retail markets. EPIC’s digital currency will have a variable but stable price and possess an inherent potential for value appreciation.
Cryptocurrencies, for the most part, are a reckless speculative investment under the pretext of being a digital currency.
The EPICcoin™, to avoid being a reckless speculative investment can be bought and sold through EPICcoinEx, LLC, which will maintain a bid and offering price at a calculated value with respect to the quoted spot price of silver. EPICcoin™ does have an element of speculation because it is not given a fixed value or price. An increase in value or price increases its purchasing power, but a decrease in value or price reduces its purchasing power.
