An ERC-20 token with a highly deflationary mechanism? A coin with no inflation caused by POW or POS algorithms? A coin that rewards you for burning your own coins? A coin with a use case in the gambling industry and active, transparent development? Very interesting idea for a project. Billionaire Token is (XBL) aiming to be one of the top coins in the niche.
I tend to spend a lot of time going through the ANN section of bitcointalk.org. All crypto projects have an Announcement (ANN) on the forum. It gives investors a way to get information about upcoming and ongoing projects, and allows members to ask questions and receive answers from the development team.
Many of these coins have ungodly amounts of coins. Many tend to have gigantic premines. Others are so easily categorized as scams. I haven't written a blog post about a coin in it's ICO stage yet, so why did I choose XBL? I'll show you . .
What are the use cases for Billionaire Token?
Interesting concept. 90 percent of the coins go to the raffle winner, and the remaining 10 percent are burned, reducing the supply. Billionaire Hold-em would provide a use for the coins after hitting exchanges. Traders are going to trade, sure . . but there are many gamblers in the crypto-space.
What are the coin specifications?
I appreciate the humor in the image. Quite simply, low supply coins with demand = high price. I looked at 300 coin the other day. There are only 300 coins in existence. It is traded at over 6,000,000 satoshi's. The ICO was successful.
300 has no use case. Not so with XBL. From what I've read so far, and after joining the Slack and asking questions to the developer, this is not a "fly by night" project. It is their aim to be highly deflationary, yet keep demand rising as well, through the Texas Hold-em Poker Game, decentralized raffles, and the ability to self-burn coins.
"Self burn, why in the world would I do that?" You will be rewarded to burn your own coins!
Burn your coins!
(This bounty can be claimed 10 times per day, once per person. Make sure the bounty address has enough available tokens.):
- reward: Receive them back and an extra 25% XBL tokens
Just a really cool and fun idea, with the ultimate end of reducing supply even further. And the slogan: because money really is everything, might just be the most honest and simultaneously hilarious thing ever written by a cryptocurrency coin creator.
The tokens will be available to purchase with Bitcoin, Etheruem, and Litecoin. No date set for the ICO. According to their website, they are working out their distribution model. Whitepaper to be released this week.
What do you guys think? All questions are welcomed . .
Let it burn baby, let it burn . .
You can learn more at the ANN thread here: https://bitcointalk.org/index.php?topic=2065888.0
The Billionaire Token website: https://billionairetoken.com/