Bitcoin Forum

What is 0xBUTT or ButtCoin Version 2 ?
It is a work of a satire, based on misconceptions about the Bitcoin.  It has a name ButtCoin given according to the popular satirical meme. It is currently found on Reddit under https://old.reddit.com/r/Buttcoin/
Although technical, please feel free to find out more in the white-paper located here: https://github.com/butttcoin/ButtCoinV2/blob/master/source/readme.md.

ButtCoin was created as a meme, the main purpose of it is fun. The second-main purpose of it is to spread the awareness about the ButtCoin meme, and what it stands for.

Buttcoin is the mineable currency that self-destructs and that does not become the store of a value.  Inner mechanisms are a bit unusual and perhaps confusing to any Bitcoin follower.

Main features

- Mineable token (SHA-256 Proof of Work) with greater differences than a BTC as explained below.
- Per reward, we are mining 2% of the overall number of mined tokens subtracted from the overall number of the burned tokens.
- Currently, the mining difficulty does not decrease, unless another contract is made to decrease it.
- We can have multiple mining algorithms mining at the same time. Some can burn the tokens, other can mine for a difficulty decrease.
- Reward increase is regulated by the increasing difficulty which implies the increased number of the burned tokens.
- Every transaction is burning 1% of a token by sending it to address(0).
- Every transaction is sending 1% to a previous sender, and therefore rewards transactions (and may cover transaction fees, extra earnings are possible).
- Mining rewards correlate the mining difficulty, and miners simply get paid for the work they did.
- Mining can go to infinity, and is regulated by token burning and the rapid mining difficulty increase.
- Scammers can get blacklisted and their tokens are burned in an attempt to make a transaction.

0xBUTT model is meant to achieve the following:
- Fair distribution and fair awards according to the work performed and the wasted electricity.
- Given the increasing mining difficulty, it encourages the smart mining that is done only when necessary (rather than wasting the electricity by the constant mining).
- A deflationary currency which prevents the market manipulation.
- A currency that does not become a store of value, since it is always mineable.
- A currency model that can simply exist forever and cannot be destroyed or manipulated since it can be mined to infinity.
- Encourages the growth of technology as a solution, rather than manipulation of the market by people who have enough money to invest into mining farms.
- Encourages people to combine their mining powers together rather than letting the mining clusters compete for the resources.
- The combined mining encourages the greater distribution of a token, and therefore, less manipulation.
- Minting of a token with the rapid mining difficulty increase makes sure that there are more deflationary periods and that inflation happens by mining and in short periods.
- Encourages the innovation and evolution of a token by being able to override most of the core functions.

 



Specifications
Symbol: 0xBUTT
Name: ButtCoin Version 2.0
Webpage: www.buttcointoken.com or www.0xbutt.com
White-paper and a source code: https://github.com/butttcoin/ButtCoinV2/tree/master/source
FAQ: https://github.com/butttcoin/FAQ
Contract: 0x5556d6a283fD18d71FD0c8b50D1211C5F842dBBc
Etherscan address: https://etherscan.io/address/0x5556d6a283fD18d71FD0c8b50D1211C5F842dBBc
Total supply: does not exist, it is always the current supply.
Decimals: 8
Transfer reduction and Deflation: 2%, 1% is burned, 1% is given to a previous account that made a transfer.
Pre-minted: 33,554,431.99999981 tokens
Pre-mined: 0.00000000

Social Pages
Telegram: https://t.me/BUTT_Coin
Twitter: https://twitter.com/0xbutt
Reddit: https://old.reddit.com/r/Buttcoin/


IGNORE THESE CONTRACTS:

0x3324f4af7eE967bFA35A5AcCba7Df13e7C932397
0xbF633d148a67B551bD643783d2dC3cEAEae31a62
0x54CCf0c46D45b85A37f960cBe1ECAfAe5844252b
0x972bd5c035ebba067489863158ec8556852bad42




These were not created by ButtCoin (0xBUTT) and are not to be confused with our project:
0x146B84eD36f8E047964f9aF789Adb93F677D8D28
0x9FFc46A62515CB46f4f43E8aAA00177800f17e94
0x9FFc46A62515CB46f4f43E8aAA00177800f17e94
0x0158e815a104364CccC584f22A99BB21A4d19cE4
0x6D470a4B79761f054bF7C1367b02C5c0B92b6DE9
0x663756F94CE1b59FAa40a507019636319cACe9fd
......
 

I got the airdrop 3 times and now i have 3 different 0xbutt tokens in my wallet. Any reason why?

 

Potential security issues VS token burning had to be fixed, since the code was copied from various resources and combined together (code reuse). This is due to Ethereum not allowing changes in a code after put on the main-net. It may look unprofessional, however, that is an usual thing in the IT development; things are noticed only after the launch.  Who is to blame?  The team-size , funds, versus the Ethereum technology limits. To avoid the SPAM, there won't be any airdrops of any possible future release. Anyone who holds the old tokes will be able to get the new ones, free of charge.  However, there won't be any airdrops, in order to prevent spamming.

You may do whatever you want with the tokens, I would keep them just for the laughs... you never know when they might be useful.

Piece of advice, NEVER provide your original 0x account for airdrops !

There will be test-cases posted on a github, to test every function of a token before the fourth contract gets put on the main-net.

EDIT:  Only about 70 accounts got an airdrop, and they will be able to redeem the 0xBUTT in the future, as soon as it hits exchanges.  Again, there is simply no solution to Ethereum contract immutability. To the best of my knowledge, EOS is the only platform which allows that, however, it has other issues such as RAM, ... Please accept all the apologies.

Hello! I got 98 0xBUTT tonight but I don't understand why  ??? I don't remember I took part in BUTT airdrop in any form. Kindly what's the reason behind I'm among those 70 selected holders now? Well thanks anyway!  :)

THIS IS NOT A COIN.
IT IS JUST A TOKEN.
Don't cal it COIN!

 :D :D :D Got my BUTT Coin ... 98 Tokens thank you . Its quite fun to read such DarkWeb humor. Keep it up. Very thoughtful writing.

How about a ButtCoinToken (BCT) ?

A necessary step for listing on decentralized exchanges. Reason is simply because you held similar tokens on your account (and therefore were most-likely interested in similar projects). It all happened at random. Soon a token will have a value, and you are encouraged to exchange it to create some liquidity on exchanges.

Enjoy, stay informed, and have fun !

Sometimes getting the information by posting the wrong answer doesn't work... A simpler way to do it is to ask.   :)

I want some of these coins cheaply by going into mining. Is this coin mineable by cpu and will I get enough of thes coins per it? Is there a way to get some tokens for free?
Please do reply as soon as possible before I go offline. Thanks

Sorry for not replying earlier, I don't get any notifications for bitcointalk.

All of these questions (how to mine or get free tokens) are answered in a FAQ section : https://github.com/butttcoin/FAQ

The mining depends on the software that you use. If the software allows the CPU mining, then yes, you can do it as a solo miner since there are 0 premined tokens and difficulty is very low at the moment. Please read the white-paper and how the mining rewards are determined: https://github.com/butttcoin/ButtCoinV2/blob/master/source/readme.md

The free-tokens as well as the passive income can be obtained by the self-drop : https://github.com/butttcoin/ButtCoinV2/blob/master/source/selfdrop/readme.md

The last airdrop that will ever happen with this token is still active: reddit.com/r/0xBUTT/comments/cs31qe/buttcoin_fancy_airdrop_read_here/


To quote:
The second main function is the mining algorithm. Briefly, the mining reward is always the 2% of the overall mined tokens subtracted from the overall burned tokens. In a sense, mining is equivalent to recycling the burned tokens. Furthermore, the mining difficulty is always increasing. This means that there will always be more tokens that were burned than mined. Also, it means that tokens will never completely burn-out and become the store of a value. It also means that miners must know when to mine this token, since it burns ETH gas and the rewards can decrease. Although rewards decrease with the recycled tokens, since difficulty is always increasing, it means that rewards will always increase with the increasing difficulty. A reward decrease is therefore temporary.