[ANN] Billionaire Token - Games on the Blockchain! 🔥 Deflationary Algorithm

[cryptogaga]

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

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[gluedog]

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

They choose to participate in burning coins, and getting rewards.

Read our WhitePaper, the whole process is explained there

https://billionairetoken.com/WhitePaper.pdf

Look for the Burner.

[eggsandspamm]

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

In order to reward deflation this coin was rewarding users with 125% of coins burns as a reward but I believe that bounty campaign has since ended.

[cryptogaga]

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

They choose to participate in burning coins, and getting rewards.

Read our WhitePaper, the whole process is explained there

https://billionairetoken.com/WhitePaper.pdf

Look for the Burner.

OK if they choose to participate, i read through the Whitepaper and i became more confused on the burning part i saw this "  Currently we are
offering rewards to people for burning their own coins these rewards will be issued in the future by a decentralized Burner smart contract. There will be a weekly decentralized raffle where 10% of the tokens
sent to it will be burned  "
 What reward will that be? is it in the same coin and what percent will be burnt what percent will be rewarded?

[cryptogaga]

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

In order to reward deflation this coin was rewarding users with 125% of coins burns as a reward but I believe that bounty campaign has since ended.

Are you saying rewards was implemented and now stopped? was the burning for bounty campaigners only or opened to general coin holders? and 125% looks more like inflation than deflation...

[gluedog]

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

In order to reward deflation this coin was rewarding users with 125% of coins burns as a reward but I believe that bounty campaign has since ended.

Are you saying rewards was implemented and now stopped? was the burning for bounty campaigners only or opened to general coin holders? and 125% looks more like inflation than deflation...

We were rewarding them with coins from the Bounty Account.
The Bounty Account is now drained of funds so the bounty campaign stopped.

We were essentially rewarding people for burning their own coins from the pre-mine funds.
But now there are only 50k coins left in the Bounty account (that are permanently reserved for the lambo bounty) and so the bounty campaign has stopped.

If you have any more questions I will answer them tomorrow. But I'm sure that if you read the whitepaper and the ANN you will understand how the burner will work - I've explained it in plain English the best I could.

[Yankeeruinx]

I think from the premine a certain % of XBL was put into an account for bounties that was paid out to people who took part in various campaigns as rewards. One of the campaigns was a burning campaign that when you burned your XBL you got that XBL back plus 25% so if you burned 1000XBL you were rewarded 1250XBL from the bounty account. The 1000XBL you burned are now permanently gone from the total supply of XBL. The bounty account is currently empty apart from the 50k XBL reserved for the Lambo bounty which nobody has claimed yet. So have to wait for the bounty account to be replenished from the raffle and other things I think. I'm sure someone will correct me if I'm wrong on any of that.

Hope it helps.

[fishfishfish313]

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

In order to reward deflation this coin was rewarding users with 125% of coins burns as a reward but I believe that bounty campaign has since ended.

Yea, people were quick to burn what they had, depleting the Bounty account.  The raffle will have a burner smart contract implemented. 

Another key ingredient to the deflationary mechanism that is embedded into Billionaire Token is the
Decentralized Burner Smart Contract. The Burner receives 20% of the tokens that are sent to the weekly
raffle.

The weekly Become a Billionaire decentralized raffle will be the basis of the deflationary mechanism
for Billionaire Token. Every week, users can send 20 XBL to an Ethereum Smart Contract address – this
is the equivalent of buying one ticket, more tickets mean a better chance to win. Users can buy an
unlimited number of tickets to increase their chances. At the end of the week, the Smart Contract will
choose three winners at random. First place will get 40% of the tokens that were raised during that week,
second place gets 20% and third place gets 10%. From the remaining 30% of the tokens: 10% are burned
– as an offering to the market gods. The other 20% are sent to another Smart Contract Address that works
like a twisted faucet – rewarding people for burning their own coins.
The Become a Billionaire raffle Smart Contract will run forever, and will have an internal timer that
will reset itself every seven days. The players are registered to the Raffle by creating an internal mapping,
inside the Smart Contract, a mapping of every address that registers tokens to it and their associated
number of tickets. This mapping is reset every time the internal timer resets (every seven days).

I am sure that a more thorough guide will be created for users who may not be familiar with Smart Contracts.  The way I understand it, is the Burner must be "called on" to burn, and must have the tokens (the 20 percent received from the raffle) or it cannot burn any tokens.  So, the more people who play the raffle, the more tokens will be in the Burner.  10 percent are burned immediately, as an offering to the market Gods lol . .

So, over time, the supply will diminish.  With the upcoming poker game, which should be going because the ICO looks like it has been successful already, even in it's third day . . this will create demand.  Demand on exchanges as well.  Demand for the raffle.  And demand for the Burner.  All in all, a good formula for economic gain.

[dakovic]

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

In order to reward deflation this coin was rewarding users with 125% of coins burns as a reward but I believe that bounty campaign has since ended.

Yea, people were quick to burn what they had, depleting the Bounty account.  The raffle will have a burner smart contract implemented. 

Another key ingredient to the deflationary mechanism that is embedded into Billionaire Token is the
Decentralized Burner Smart Contract. The Burner receives 20% of the tokens that are sent to the weekly
raffle.

The weekly Become a Billionaire decentralized raffle will be the basis of the deflationary mechanism
for Billionaire Token. Every week, users can send 20 XBL to an Ethereum Smart Contract address – this
is the equivalent of buying one ticket, more tickets mean a better chance to win. Users can buy an
unlimited number of tickets to increase their chances. At the end of the week, the Smart Contract will
choose three winners at random. First place will get 40% of the tokens that were raised during that week,
second place gets 20% and third place gets 10%. From the remaining 30% of the tokens: 10% are burned
– as an offering to the market gods. The other 20% are sent to another Smart Contract Address that works
like a twisted faucet – rewarding people for burning their own coins.
The Become a Billionaire raffle Smart Contract will run forever, and will have an internal timer that
will reset itself every seven days. The players are registered to the Raffle by creating an internal mapping,
inside the Smart Contract, a mapping of every address that registers tokens to it and their associated
number of tickets. This mapping is reset every time the internal timer resets (every seven days).

I am sure that a more thorough guide will be created for users who may not be familiar with Smart Contracts.  The way I understand it, is the Burner must be "called on" to burn, and must have the tokens (the 20 percent received from the raffle) or it cannot burn any tokens.  So, the more people who play the raffle, the more tokens will be in the Burner.  10 percent are burned immediately, as an offering to the market Gods lol . .

So, over time, the supply will diminish.  With the upcoming poker game, which should be going because the ICO looks like it has been successful already, even in it's third day . . this will create demand.  Demand on exchanges as well.  Demand for the raffle.  And demand for the Burner.  All in all, a good formula for economic gain.

Are the devs going to put a limit in how much can be burned?  Like lets say the supply has burned down to 1m left, will they still keep burning?

[MrHeron]

This seems like an interesting concept.  I got a little yesterday, we will see where it goes.  Good luck team. 

[kronos123]

Good morning Dev recently discovered Billionaire and wanted to ask you a few questions:
1) what was the discount of the first 2 days?
2) If I buy for example $ 1000 of tokens I will receive 10,000 XBL + other 4500 XBL which is today's discount of 45%?
3) Do tokens are immediately stored in my Myetherwallet wallet and then are traded when ico finished?
4) What is the maximum amount you can raise with ico if all of your XBL tokens are sold?
Thank you

[gluedog]

Good morning Dev recently discovered Billionaire and wanted to ask you a few questions:
1) what was the discount of the first 2 days?
2) If I buy for example $ 1000 of tokens I will receive 10,000 XBL + other 4500 XBL which is today's discount of 45%?
3) Do tokens are immediately stored in my Myetherwallet wallet and then are traded when ico finished?
4) What is the maximum amount you can raise with ico if all of your XBL tokens are sold?
Thank you

Good mornin'

1. First day had 75%. Second day had 60%.
2. Yes. 14500 XBL total.
3. The tokens are sent in a few hours usually, sometimes faster and after the ICO is finished we will personally pay the exchange prices to get it listed ASAP.
4. The maximum we can raise with this ICO if all the tokens are sold is around $200k-230k depending on the bonus.

Thanks:)

[kronos123]

Thanks for the fast response Dev .... I'm trying to take part now and get 45% bonus because I believe they will end very soon!
Where do I find the procedure to import tokens on my mytherwallet, decimal, date, etc?

I have seen the first ad on the exchanges where you want to quote: I really hope you push as much as possible for Cryptopia and Livecoin; would be great!
Thank you!

[gluedog]

Thanks for the fast response Dev .... I'm trying to take part now and get 45% bonus because I believe they will end very soon!
Where do I find the procedure to import tokens on my mytherwallet, decimal, date, etc?

I have seen the first ad on the exchanges where you want to quote: I really hope you push as much as possible for Cryptopia and Livecoin; would be great!
Thank you!

Use this guide to learn how to create a wallet on MyEtherWallet (if you haven't already): https://billionairetoken.com/MyEtherWalletCreation.pdf

And to add a custom token to MyEtherWallet, follow the first step, only the first step, in this guide: https://billionairetoken.com/MyEtherWalletBurn.pdf

IMPORTANT: Do not burn your coins as the bounty campaign is now over, you'll have to wait for the Burner and the Raffle Smart Contracts to be deployed on the Ethereum Network.

Thanks

[Yankeeruinx]

So which exchanges are you thinking of hitting first? Also if all the tokens are sold before the ICO finishes will this push forward the date when they will be listed or will you be sticking to the original schedule?

[MrHeron]

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

In order to reward deflation this coin was rewarding users with 125% of coins burns as a reward but I believe that bounty campaign has since ended.

Yea, people were quick to burn what they had, depleting the Bounty account.  The raffle will have a burner smart contract implemented. 

Another key ingredient to the deflationary mechanism that is embedded into Billionaire Token is the
Decentralized Burner Smart Contract. The Burner receives 20% of the tokens that are sent to the weekly
raffle.

The weekly Become a Billionaire decentralized raffle will be the basis of the deflationary mechanism
for Billionaire Token. Every week, users can send 20 XBL to an Ethereum Smart Contract address – this
is the equivalent of buying one ticket, more tickets mean a better chance to win. Users can buy an
unlimited number of tickets to increase their chances. At the end of the week, the Smart Contract will
choose three winners at random. First place will get 40% of the tokens that were raised during that week,
second place gets 20% and third place gets 10%. From the remaining 30% of the tokens: 10% are burned
– as an offering to the market gods. The other 20% are sent to another Smart Contract Address that works
like a twisted faucet – rewarding people for burning their own coins.
The Become a Billionaire raffle Smart Contract will run forever, and will have an internal timer that
will reset itself every seven days. The players are registered to the Raffle by creating an internal mapping,
inside the Smart Contract, a mapping of every address that registers tokens to it and their associated
number of tickets. This mapping is reset every time the internal timer resets (every seven days).

I am sure that a more thorough guide will be created for users who may not be familiar with Smart Contracts.  The way I understand it, is the Burner must be "called on" to burn, and must have the tokens (the 20 percent received from the raffle) or it cannot burn any tokens.  So, the more people who play the raffle, the more tokens will be in the Burner.  10 percent are burned immediately, as an offering to the market Gods lol . .

So, over time, the supply will diminish.  With the upcoming poker game, which should be going because the ICO looks like it has been successful already, even in it's third day . . this will create demand.  Demand on exchanges as well.  Demand for the raffle.  And demand for the Burner.  All in all, a good formula for economic gain.

Are the devs going to put a limit in how much can be burned?  Like lets say the supply has burned down to 1m left, will they still keep burning?

I'd like to know the answer to this, maybe your cut off is 100k?

[gluedog]

So which exchanges are you thinking of hitting first? Also if all the tokens are sold before the ICO finishes will this push forward the date when they will be listed or will you be sticking to the original schedule?

We're going to try for Cryptopia first, and then the rest of the exchanges listed in the first page.

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

In order to reward deflation this coin was rewarding users with 125% of coins burns as a reward but I believe that bounty campaign has since ended.

Yea, people were quick to burn what they had, depleting the Bounty account.  The raffle will have a burner smart contract implemented. 

Another key ingredient to the deflationary mechanism that is embedded into Billionaire Token is the
Decentralized Burner Smart Contract. The Burner receives 20% of the tokens that are sent to the weekly
raffle.

The weekly Become a Billionaire decentralized raffle will be the basis of the deflationary mechanism
for Billionaire Token. Every week, users can send 20 XBL to an Ethereum Smart Contract address – this
is the equivalent of buying one ticket, more tickets mean a better chance to win. Users can buy an
unlimited number of tickets to increase their chances. At the end of the week, the Smart Contract will
choose three winners at random. First place will get 40% of the tokens that were raised during that week,
second place gets 20% and third place gets 10%. From the remaining 30% of the tokens: 10% are burned
– as an offering to the market gods. The other 20% are sent to another Smart Contract Address that works
like a twisted faucet – rewarding people for burning their own coins.
The Become a Billionaire raffle Smart Contract will run forever, and will have an internal timer that
will reset itself every seven days. The players are registered to the Raffle by creating an internal mapping,
inside the Smart Contract, a mapping of every address that registers tokens to it and their associated
number of tickets. This mapping is reset every time the internal timer resets (every seven days).

I am sure that a more thorough guide will be created for users who may not be familiar with Smart Contracts.  The way I understand it, is the Burner must be "called on" to burn, and must have the tokens (the 20 percent received from the raffle) or it cannot burn any tokens.  So, the more people who play the raffle, the more tokens will be in the Burner.  10 percent are burned immediately, as an offering to the market Gods lol . .

So, over time, the supply will diminish.  With the upcoming poker game, which should be going because the ICO looks like it has been successful already, even in it's third day . . this will create demand.  Demand on exchanges as well.  Demand for the raffle.  And demand for the Burner.  All in all, a good formula for economic gain.

Are the devs going to put a limit in how much can be burned?  Like lets say the supply has burned down to 1m left, will they still keep burning?

I'd like to know the answer to this, maybe your cut off is 100k?

There is no limit to how many coins can be burned. The amount burned will be a percentage of all the coins sent to the raffle.

So obviously as the supply will get lower and lower, this percentage will mean less and less coins getting burned.

We'll let the users decide how many coins will be burned, we won't impose any limits on that.

[MrHeron]

So which exchanges are you thinking of hitting first? Also if all the tokens are sold before the ICO finishes will this push forward the date when they will be listed or will you be sticking to the original schedule?

We're going to try for Cryptopia first, and then the rest of the exchanges listed in the first page.

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

In order to reward deflation this coin was rewarding users with 125% of coins burns as a reward but I believe that bounty campaign has since ended.

Yea, people were quick to burn what they had, depleting the Bounty account.  The raffle will have a burner smart contract implemented. 

Another key ingredient to the deflationary mechanism that is embedded into Billionaire Token is the
Decentralized Burner Smart Contract. The Burner receives 20% of the tokens that are sent to the weekly
raffle.

The weekly Become a Billionaire decentralized raffle will be the basis of the deflationary mechanism
for Billionaire Token. Every week, users can send 20 XBL to an Ethereum Smart Contract address – this
is the equivalent of buying one ticket, more tickets mean a better chance to win. Users can buy an
unlimited number of tickets to increase their chances. At the end of the week, the Smart Contract will
choose three winners at random. First place will get 40% of the tokens that were raised during that week,
second place gets 20% and third place gets 10%. From the remaining 30% of the tokens: 10% are burned
– as an offering to the market gods. The other 20% are sent to another Smart Contract Address that works
like a twisted faucet – rewarding people for burning their own coins.
The Become a Billionaire raffle Smart Contract will run forever, and will have an internal timer that
will reset itself every seven days. The players are registered to the Raffle by creating an internal mapping,
inside the Smart Contract, a mapping of every address that registers tokens to it and their associated
number of tickets. This mapping is reset every time the internal timer resets (every seven days).

I am sure that a more thorough guide will be created for users who may not be familiar with Smart Contracts.  The way I understand it, is the Burner must be "called on" to burn, and must have the tokens (the 20 percent received from the raffle) or it cannot burn any tokens.  So, the more people who play the raffle, the more tokens will be in the Burner.  10 percent are burned immediately, as an offering to the market Gods lol . .

So, over time, the supply will diminish.  With the upcoming poker game, which should be going because the ICO looks like it has been successful already, even in it's third day . . this will create demand.  Demand on exchanges as well.  Demand for the raffle.  And demand for the Burner.  All in all, a good formula for economic gain.

Are the devs going to put a limit in how much can be burned?  Like lets say the supply has burned down to 1m left, will they still keep burning?

I'd like to know the answer to this, maybe your cut off is 100k?

There is no limit to how many coins can be burned. The amount burned will be a percentage of all the coins sent to the raffle.

So obviously as the supply will get lower and lower, this percentage will mean less and less coins getting burned.

We'll let the users decide how many coins will be burned, we won't impose any limits on that.

So what happens if there's only one person to put in for the raffle?  Do they get their money back automatically?  Is their a limit to the number of people who can participate in the raffle?  Like 2 ppl - to a maximum?

[kronos123]

Hi Gluedog I read that before sending Eth, Btc or Ltc you have to register at the Billionaire site.
I did this but now I have to wait for a confirmation email or can I already send my money back to the contract?
Thank you

[gluedog]

So which exchanges are you thinking of hitting first? Also if all the tokens are sold before the ICO finishes will this push forward the date when they will be listed or will you be sticking to the original schedule?

We're going to try for Cryptopia first, and then the rest of the exchanges listed in the first page.

I read this up and down and still do not understand what the burning of coins you guys mean, is it that holders of you coin will choose to participate in a burn process or it is automatic for all holders?

In order to reward deflation this coin was rewarding users with 125% of coins burns as a reward but I believe that bounty campaign has since ended.

Yea, people were quick to burn what they had, depleting the Bounty account.  The raffle will have a burner smart contract implemented. 

Another key ingredient to the deflationary mechanism that is embedded into Billionaire Token is the
Decentralized Burner Smart Contract. The Burner receives 20% of the tokens that are sent to the weekly
raffle.

The weekly Become a Billionaire decentralized raffle will be the basis of the deflationary mechanism
for Billionaire Token. Every week, users can send 20 XBL to an Ethereum Smart Contract address – this
is the equivalent of buying one ticket, more tickets mean a better chance to win. Users can buy an
unlimited number of tickets to increase their chances. At the end of the week, the Smart Contract will
choose three winners at random. First place will get 40% of the tokens that were raised during that week,
second place gets 20% and third place gets 10%. From the remaining 30% of the tokens: 10% are burned
– as an offering to the market gods. The other 20% are sent to another Smart Contract Address that works
like a twisted faucet – rewarding people for burning their own coins.
The Become a Billionaire raffle Smart Contract will run forever, and will have an internal timer that
will reset itself every seven days. The players are registered to the Raffle by creating an internal mapping,
inside the Smart Contract, a mapping of every address that registers tokens to it and their associated
number of tickets. This mapping is reset every time the internal timer resets (every seven days).

I am sure that a more thorough guide will be created for users who may not be familiar with Smart Contracts.  The way I understand it, is the Burner must be "called on" to burn, and must have the tokens (the 20 percent received from the raffle) or it cannot burn any tokens.  So, the more people who play the raffle, the more tokens will be in the Burner.  10 percent are burned immediately, as an offering to the market Gods lol . .

So, over time, the supply will diminish.  With the upcoming poker game, which should be going because the ICO looks like it has been successful already, even in it's third day . . this will create demand.  Demand on exchanges as well.  Demand for the raffle.  And demand for the Burner.  All in all, a good formula for economic gain.

Are the devs going to put a limit in how much can be burned?  Like lets say the supply has burned down to 1m left, will they still keep burning?

I'd like to know the answer to this, maybe your cut off is 100k?

There is no limit to how many coins can be burned. The amount burned will be a percentage of all the coins sent to the raffle.

So obviously as the supply will get lower and lower, this percentage will mean less and less coins getting burned.

We'll let the users decide how many coins will be burned, we won't impose any limits on that.

So what happens if there's only one person to put in for the raffle?  Do they get their money back automatically?  Is their a limit to the number of people who can participate in the raffle?  Like 2 ppl - to a maximum?

Yes, if there are 2 people or less participating in the raffle they will get their money back.

There have to be three or more people (accounts) that participate in the raffle for it to work as described.