This is such an interesting concept and correct me if I am wrong, but doesnt this mean that the value increases every time the supple gets decreased? Thats a pretty good investment right there haha. Or is the burning thing mandatory?
It's interesting but I need to look into it a bit more. Value is a function of supply and demand, so there's a plan to impact at least one side of the equation. What's the plan to raise the other; if there's a plan to increase demand and decrease supply then definitely it's worth looking into!
Besides the already made plans for the functionality of the "Become a Billionaire" raffle and our upcoming "Billionaire Hold'em" poker game, to increase demand we have decided to:
- Improve the weekly raffle - we will have THREE lucky winners instead of just one.
- Create a smart contract that works together with the raffle and that will reward people for burning their own coins.
^ These extra steps should help to increase demand.
Either way, if there's no demand for this coin at the ICO, there will be few coins in circulations.
Investors are pretty much covered because of this.
If there are only a handful of people that buy the tokens, there will probably never be more than 500k-1 mil coins in circulation.
Our goal, after our poker game is release, is to reach 1$ per XBL token. If the maximum supply is not larger than 1 mil, we would only need 1 mil market cap to achieve this.
The feedback has been so far mostly positive and constructive criticism. Because of this community feedback we have so far decided to change the following aspects of the coin:
- The token distribution model will be made more fair to all participants, while still rewarding early investors as they are the ones taking the biggest risk.
- The raffle will be changed to include three winners instead of just one.
- There will be another Smart Contract created that will work together with the raffle, and will reward people for burning their own coins - just another incentive for the deflationary model to work its magic.
Poll
