There are so many rumors about
No BS I think it should be cleared here, Just trying to let community know the exact same words from TEAM.
On page 19 of our
white paper you'll see a sentence that reads, "Uncirculated tokens may be burned in the future if deemed necessary." On October 23rd we will be burning the vast majority of our tokens for reasons outlined below. We will be releasing a revised white paper next week to accurately reflect this burn, but the original will be left up as well.
We ultimately created a total supply of 10,000,000,000 because we could not accurately predict how many we would need to distribute throughout all airdrop rounds. This is often the case when no token sale or ICO is held. The amount of tokens distributed wholly depending on the following six unpredictable factors:
How many total airdrop participants there would be.
Of the above number, how many airdrop participants would pass KYC and prove to ultimately be legitimate.
How many legitimate referrals, on average, each fully-KYCed airdrop participant would invite to the airdrop.
How many tasks each airdrop participant and referral would perform for tokens. The total amounts earned were to range from between 3,000 to over 300,000.
How many airdrop rounds the demand for this token would ultimately necessitate.
How many tokens would be needed going into the future to fulfill the rate and review utility outlined in our white paper.
Considering the six variables above, it was impossible for us to predict beforehand, with any level of accuracy, how many tokens would be distributed. Without a fork, it is impossible to create new NOBS tokens after creation. However it is fairly easy to burn them, should too many exist. This is why we chose to create the large, round number of 10 billion total tokens.
As of October 16th, 2018, the circulating supply is much less than total supply of 10,000,000,000. We feel that there are far too many unused tokens in existence. The purpose of the token is for people to use it as a utility for bidding on the right to rate and review crypto projects. Having billions of unused tokens is not helpful in the accomplishment of that objective. As of today, we have decided to burn approximately 75% of the total supply. The team (10%) and company (25%) token percentages will proportionally be burned as well, so there will be no change to the percentages originally outlined in the tokenomics section of our white paper. The remaining amount of tokens will be what are in circulation, the team and company's percentages and a small buffer amount for community airdrops and incentivizing events. This burn will take place on October 23rd, 2018 and there will be no other token burns after that point.
why hasn't the token been burned until now? or maybe the rest of the token will be sold in the market in an overdue, I see the price is so cheap, it's not 100% airdrop as promised if there are remaining tokens that haven't been burned until now.
So nothing new... What he meant then?
Be on the lookout for a big announcement at 10:00 AM EST on August 1st from No BS Crypto. You won't want to miss this!
NOBS is more a shitcoin ... Team has more than 82% of the total supply LOL big dump will happen! Wait...
lol they already announced about it, most of it will be burned which wasn't given away during airdrop
More than 4 months later and no Nobshit was burned yet LOL
The team is fooling the community. Wait for the dump!
Might be last announcement cleared all these false claims, There are so many things in background to complete before actually burning the coin, And since this coin is 100% Airdropped coin there might be a lot work to be done to complete the airdrop proceed, Now its time to burn and Team is doing that, It is better to help team if they need anything from community than just making false claims and to try ruining a community project.
