New BitMinutes Solve BitCoin Security, Price Volatility Problems

ATLANTA, March 13, 2014 /PRNewswire-iReach/ --  P2P Cash announces development plans for BitMinutes, a stored value exchange service that uses the universal international acceptance of mobile phone minutes as a virtual currency to build a "Better BitCoin".

The key innovation converting BitMinutes into a worldwide "Virtual Currency" or "eCurrency" is the addition of a cash-out feature for purchased mobile phone minutes:

• Current purchasers of mobile phone minutes ("Top-Up minutes") cannot convert their purchase back into cash.
• BitMinutes may be used to "Top-Up" any cellphone globally and/or converted back into cash through a mobile Wallet or "mWallet".

"Convertibility back to cash completes the value circle for mobile phone minutes," says P2P Cash CEO Tom Meredith. "The phone minute is rapidly becoming a secondary form of value exchange, especially in developing countries with more rudimentary financial systems. By creating an ability to cash out phone minutes, you remove a final barrier to allowing phone minutes to serve as an alternative, digital "eCurrency.""

BitMinutes are an improvement over BitCoin in the following ways:

• World Class Security: Designed by world-class value exchange security experts. BitCoin security is now a big question post-Mt. Gox.
• Guaranteed Transactions: BitMinutes create an audit trail to permit 3^rd party transfer guarantees
• Legal to use in every country in which phone minutes are sold: BitCoin is outlawed in over half the globe.
• Stable Value of $1 per BitMinute: BitCoin is known for its price volatility; great for speculators, but bad for businesses.

Purchasers buy BitMinutes for $1, then send or spend the value as cash or prepaid minutes globally. The value is transferred instantaneously in real-time between mWallets. Merchants can price their goods and services using traditional $USD pricing. They are assured that they will get their asking price as BitMinutes do not fluctuate in value.

"International prepaid phone time sellers are free to set the terms of sale for their phone minutes in BitMinutes, for instance," notes Meredith. "A call between the U.S. and Manila, say, could cost 0.03 BTM per minute. For that call, the BitMinute would be worth about 33 actual phone minutes."

"Poor security, questionable legality and extreme price volatility make BitCoin a risky venture for most people who want an inexpensive means to send cash or prepaid minutes to their friends and family," states Meredith. "BitMinutes are a secure, stable, reliable and more widely acceptable international stored value than BitCoin. BitMinutes leverage and consolidate the exploding acceptance of phone minutes as a "Virtual Currency" creating a better stored-value-transfer solution than BitCoin."

About P2P Cash: BitMinutes are issued by a wholly owned division of P2P Cash Inc. P2P Cash has won several awards in the financial services industry, most notably twice named a Top Ten Global Financial Service Company in SWIFT's Innotribe Innovation Competition. P2P Cash has patents pending regarding the design and usage of BitMinutes. These patents may apply to BitCoin as well.

For more information regarding how an individual can participate in BitMinutes, please visit the BitMinutes page at RocketHub, (http://bit.ly/1i6Ta4y) or for more information regarding P2P Cash, please contact Kern Lewis, VP of Marketing at [email protected] , +1 510.329.8155

Media Contact: Kern Lewis, P2P Cash, 510 329 8155, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE P2P Cash