[ANN][BPCT] Backpocket Social/Dating/Tip ERC20 Token for Backpocket Dating app

[thecoinboy]

Correct, yes there will be other market places eventually as the token grows. I have to grind in the streets to get people on board give free tokens and cash so people can see I'm serious about this. I'm working on getting the messaging service on the app together but the dating works.

Ok, then we proceed to the classic simple dilemma of tipping app: what's your method to prevent cheating? Your app allows people to tip each other, which you gave them for free as a promotion method, and this tip money can be used to purchase something tangible and valuable, it won't be long before someone create multi account and tipped themselves.

well they could tip themselves but that doesnt hurt. they could create multiple profiles and to get more reward points. With that they could get more Backpocket Tokens but you can only get 2 a day per account. I see they could rack up lol. I better rack up too. I'm going to have to buy back too. I'm burning a lot of the tokens to raise the value. I'll probably just be at the faucet a lot lol

[Miiike]

Correct, yes there will be other market places eventually as the token grows. I have to grind in the streets to get people on board give free tokens and cash so people can see I'm serious about this. I'm working on getting the messaging service on the app together but the dating works.

Ok, then we proceed to the classic simple dilemma of tipping app: what's your method to prevent cheating? Your app allows people to tip each other, which you gave them for free as a promotion method, and this tip money can be used to purchase something tangible and valuable, it won't be long before someone create multi account and tipped themselves.

well they could tip themselves but that doesnt hurt. they could create multiple profiles and to get more reward points. With that they could get more Backpocket Tokens but you can only get 2 a day per account. I see they could rack up lol. I better rack up too. I'm going to have to buy back too. I'm burning a lot of the tokens to raise the value. I'll probably just be at the faucet a lot lol

I think I better hold the question of your token mechanism for now, given your way to explain things goes round and round with a lot of input from personal opinion instead of direct answers with facts and data. So let's talk about fact and data for now and perhaps revisit this issue later.

This is your token allocation:

There is  total of 200,000,000 Tokens

Going to have a Token Sale 10,000,000 Tokens to support project and developer. If they don't sell out the rest will be burned

10,000,000 Tokens will be held by developer to reward Backpocket app users.

8,000,000 Tokens will be put into faucets on the internet. Different levels of payout

172,000,000 168,000,000 Tokens will be burned to lower Max Supply by 86% 81% and increase value of Backpocket Token.

For extra funds I will sell 4,000,000(.002/ea) on Paypal.

New Max Supply will be 28,000,000 32,000,000 Million.

The extra funds you'll get from selling token on paypal is also for token growth, so in other words, it's dev funds too. Converting to percentage, it'll look like this:

Total supply: 32,000,000
Total dev funds: 14,000,000/32,000,000 (43.75%)
     Initial funds: 10,000,000
     Extra (dev) funds: 4,000,000
Faucet: 8,000,000/32,000,000 (25%)
Investor (max) fund: 10,000,000/32,000,000 (31.25%)

Up to this point (assuming all went well and all token is sold, because if they're not sold then they will be burnt, thus lowering the "total supply" and "investor max fund" percentage while proportionally increases "dev fund" percentage as this fund's amount is fixed) you'll hold 43.75% of the total token, which (as I understand it) you can use whenever or for whatever you deemed right. Further, a note about faucet, you state you'll also participate in claiming and accumulating, thus, another extra on dev fund.

[thecoinboy]

Correct, yes there will be other market places eventually as the token grows. I have to grind in the streets to get people on board give free tokens and cash so people can see I'm serious about this. I'm working on getting the messaging service on the app together but the dating works.

Ok, then we proceed to the classic simple dilemma of tipping app: what's your method to prevent cheating? Your app allows people to tip each other, which you gave them for free as a promotion method, and this tip money can be used to purchase something tangible and valuable, it won't be long before someone create multi account and tipped themselves.

well they could tip themselves but that doesnt hurt. they could create multiple profiles and to get more reward points. With that they could get more Backpocket Tokens but you can only get 2 a day per account. I see they could rack up lol. I better rack up too. I'm going to have to buy back too. I'm burning a lot of the tokens to raise the value. I'll probably just be at the faucet a lot lol

I think I better hold the question of your token mechanism for now, given your way to explain things goes round and round with a lot of input from personal opinion instead of direct answers with facts and data. So let's talk about fact and data for now and perhaps revisit this issue later.

This is your token allocation:

There is  total of 200,000,000 Tokens

Going to have a Token Sale 10,000,000 Tokens to support project and developer. If they don't sell out the rest will be burned

10,000,000 Tokens will be held by developer to reward Backpocket app users.

8,000,000 Tokens will be put into faucets on the internet. Different levels of payout

172,000,000 168,000,000 Tokens will be burned to lower Max Supply by 86% 81% and increase value of Backpocket Token.

For extra funds I will sell 4,000,000(.002/ea) on Paypal.

New Max Supply will be 28,000,000 32,000,000 Million.

The extra funds you'll get from selling token on paypal is also for token growth, so in other words, it's dev funds too. Converting to percentage, it'll look like this:

Total supply: 32,000,000
Total dev funds: 14,000,000/32,000,000 (43.75%)
     Initial funds: 10,000,000
     Extra (dev) funds: 4,000,000
Faucet: 8,000,000/32,000,000 (25%)
Investor (max) fund: 10,000,000/32,000,000 (31.25%)

Up to this point (assuming all went well and all token is sold, because if they're not sold then they will be burnt, thus lowering the "total supply" and "investor max fund" percentage while proportionally increases "dev fund" percentage as this fund's amount is fixed) you'll hold 43.75% of the total token, which (as I understand it) you can use whenever or for whatever you deemed right. Further, a note about faucet, you state you'll also participate in claiming and accumulating, thus, another extra on dev fund.

Thats correct I'm going to have to start token sale ASAP the messaging feature on app is taking too long to get approved. There's messaging within the dating feature so its all good.

[Miiike]

Thats correct I'm going to have to start token sale ASAP the messaging feature on app is taking too long to get approved. There's messaging within the dating feature so its all good.

You're missing the point. Here, let me make it easier to understand. At worst (assuming not all of the intended token for sale are sold, thus burned) you'll control and entitled to more than 50% of total supply. At best scenario where all token is sold, you'll still own majority of the token at 43.75%, and could be more, given your commitment to participate on your own faucet. Assuming an angel investor came and singlehandedly bought all 10,000,000, they'll still possess and control less token than you. I'd like to mention that the "you" here is not referring to a plural pronouns, not a group of team. The "you" here refers to a single developer, one man. Meaning, suppose you got bored and decided to dump all of the token you own and bury the project with it, no one can prevent you from it.

Now, the question is: why should any investor be interested to buy into a project with such token allocation? To put it roughly in other words, why should they trust you? So far, we didn't even know who you are. No details, no name, nothing to show any credibility.

[thecoinboy]

Thats correct I'm going to have to start token sale ASAP the messaging feature on app is taking too long to get approved. There's messaging within the dating feature so its all good.

You're missing the point. Here, let me make it easier to understand. At worst (assuming not all of the intended token for sale are sold, thus burned) you'll control and entitled to more than 50% of total supply. At best scenario where all token is sold, you'll still own majority of the token at 43.75%, and could be more, given your commitment to participate on your own faucet. Assuming an angel investor came and singlehandedly bought all 10,000,000, they'll still possess and control less token than you. I'd like to mention that the "you" here is not referring to a plural pronouns, not a group of team. The "you" here refers to a single developer, one man. Meaning, suppose you got bored and decided to dump all of the token you own and bury the project with it, no one can prevent you from it.

Now, the question is: why should any investor be interested to buy into a project with such token allocation? To put it roughly in other words, why should they trust you? So far, we didn't even know who you are. No details, no name, nothing to show any credibility.

first of all you shouldn't trust nobody even if they reveal themselves. So many people get scammed by "professionals" in crypto its funny af. The presentation is stellar than SCAM!!! Bitcoins presentation was not stellar it was raw and indie. The most important thing is the project legit and long term. Right now its an infant trying to learn how to talk and walk. its almost ready to go but the messaging feature isnt active because i'm trying to  get it. Its not necessary because you can chat in the dating feature and other ways. So I might take it off I have to keep a lot of Tokens people will try to dump too much and leave forever. They just wanna get money but I'm not just about fast money. This is about social capitol and dating combined. I'm bout to just start the token sale because I'm ready to start promoting on the internet.

[Miiike]

first of all you shouldn't trust nobody even if they reveal themselves. So many people get scammed by "professionals" in crypto its funny af. The presentation is stellar than SCAM!!! Bitcoins presentation was not stellar it was raw and indie. The most important thing is the project legit and long term. Right now its an infant trying to learn how to talk and walk. its almost ready to go but the messaging feature isnt active because i'm trying to  get it. Its not necessary because you can chat in the dating feature and other ways. So I might take it off I have to keep a lot of Tokens people will try to dump too much and leave forever. They just wanna get money but I'm not just about fast money. This is about social capitol and dating combined. I'm bout to just start the token sale because I'm ready to start promoting on the internet.

I don't think I read this correctly, but your response is: "no I don't have anything to boost my credibility, nor you should trust me because (apparently) even if I show my identity, there's still a huge chance I'll scam you. And I keep so many tokens for myself in order to be sure no one (including the investors themselves) can dump it." ? Is this correct to bluntly summarize the entire paragraph?

[thecoinboy]

this project is pending for now looking to create the main Backpocket blockchain by forking a coin with private send. So there will be 2 protocols... 1 on Ethereum (Backpocket Reward Token) and one on its own block chain (Backpocket).

[Miiike]

this project is pending for now looking to create the main Backpocket blockchain by forking a coin with private send. So there will be 2 protocols... 1 on Ethereum (Backpocket Reward Token) and one on its own block chain (Backpocket).

Really? After just on two previous post you said you're going to conduct token sale ASAP? And now suddenly you pull your brake and pause the project (which looks like will be for indefinite time)? Wow.