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Author Topic: [ANN] The World's First Self-Destructing Currency - BOMB  (Read 1080 times)
BombToken
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January 21, 2019, 10:39:23 PM
Last edit: February 19, 2019, 07:21:25 PM by BombToken
 #1


The World's First Self-Destructing Currency

Myself and three friends got a little bored during the bear market and decided to create the
world's first self-destructing currency called BOMB.




The rules are simple


1) There were originally 1,000,000 Bomb created.
2) Each time a Bomb is transferred, 1% of the transaction is destroyed.
3) There will never be newly minted Bomb.

First and foremost, we acknowledge and anticipate an incoming amount of skepticism/negativity
towards this project. I'll be the first to admit, the concept still seems a little whimsical when we
explain it to people. At the same time, the more research we did into economic incentives and
history of the financial system, the more curious we became:


Outside of transactional currency, can a hyperdeflationary asset survive?
When given away for free, would people actually want to keep or store it?
With an evolving crypto landscape, is there a place for this alternative asset class?
At the current rate of hyperdeflation, how long will it take for all Bomb to be destroyed?



While there is no way of knowing the answers to those questions, we wanted to create a
case study to find out. For that reason, Bomb is nothing more than a
social experiment of human psychology and economic exploration.

There are quite a few projects that inspired the tokenomics behind the project (MKR especially),
and many projects already using the burn method in their system. That said, the intent
of BOMB is not to be used as a transactional currency or utility token, but rather
a hyperdeflationary and decentralized store of value.


On the first day of putting the website up, we had over 200+ people claim the tokens.
As of today (one week since launch), there has been over 136,750 claimed tokens,
and over 1300 tokens burned during the distribution process. On average, every
five minutes a new person claims their Bomb. While this doesn't add true
validity to the project by any means, it did show us
other people are as intrigued as us.


The tokens have already been minted and 25,000 have already been released
into the wild for people to play with. We aren't doing an ICO, and everything
will be completely self-funded out of our own curiosity and development.
Trash them. Sell them. Save them. We don't care.
We just want to see where this case study goes.

If you would like to participate in this experiment with us, we encourage you to
grill us with questions below. We understand the the amount of distrust in the
industry and want to be 100% transparent with everything we do.


Official Site: https://bombtoken.com/
Official Telegram: https://t.me/bombtoken
Official Twitter: https://twitter.com/BombToken
Official Reddit: http://reddit.com/r/bombtoken
Etherscan: https://etherscan.io/address/0x1C95b093d6C236d3EF7c796fE33f9CC6b8606714



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January 21, 2019, 11:28:26 PM
 #2

I'm loving the concept!  Made sure to sign up and get in on the second wave.
BombToken
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January 21, 2019, 11:41:58 PM
 #3

I'm loving the concept!  Made sure to sign up and get in on the second wave.

Glad to have you and just in the nick of time. About 22 spots left until Wave Three starts. Appreciate the support and please let us know if you have any questions!
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January 22, 2019, 04:30:51 AM
 #4

I signed up the other day after someone sent me a link on telegram.  I didn't make it into the first wave, but I'm happy to be part of the second!
My roommate also signed up.  We're going to do our part by transferring BOMB back and forth to burn a bit more.
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January 22, 2019, 05:49:17 AM
 #5

I signed up the other day after someone sent me a link on telegram.  I didn't make it into the first wave, but I'm happy to be part of the second!
My roommate also signed up.  We're going to do our part by transferring BOMB back and forth to burn a bit more.

That's awesome to hear the project is spreading organically and through word of mouth! Glad to have you for Wave Two. If you want me to send you some test Bomb's on Rinkeby to play with, let me know on Telegram =)

t.me/bombtoken
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January 22, 2019, 06:15:41 AM
 #6

great project and this concept is very interesting. Is this BOMB token will be higher cost from the BTC? It is better to have a better roadmap on how this token will survive in the next 3 to 5 months...
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January 22, 2019, 06:40:26 AM
 #7

Cool! Want some... how is coin distributed?

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January 22, 2019, 07:32:00 AM
 #8

great project and this concept is very interesting. Is this BOMB token will be higher cost from the BTC? It is better to have a better roadmap on how this token will survive in the next 3 to 5 months...

Glad you find it interesting!  We don't want to provide any speculation on price to skew the experiment. As this is an open-source project, the community around us will be pushing the roadmap forward in whatever direction they choose =)
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January 22, 2019, 07:45:09 AM
 #9

My God I have found a project that isnt minting a zillion coins.....at fitst glance there might be concern that one million coins isnt enough, Particularly given the token burn of transmission fees....but please remember there are 18 decimels to this token. In an age where we are accustomed to payign in integers it might be refreshing to now send fractions of a coin. Value will accumulate as the tokens are dispersed and the eco-system takes off....I am wathcing you closely Bomb
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January 22, 2019, 07:53:15 AM
 #10

Cool! Want some... how is coin distributed?

You can view the current distribution cycle at https://bombtoken.com/waves

As we want to ensure to get this token into the hands of people who actually want it, this is subject to change. Wave One has been complete. Wave Two is about to finish up. When thresholds are hit, tokens and distributed to those who claimed them. Hope this helps.
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January 22, 2019, 08:13:24 AM
 #11

looks interesting with a total allocation of only 1m, I will see how each progress is on this project.

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January 22, 2019, 08:30:50 AM
 #12

The rules are simple

2) Each time a Bomb is transferred, 1% of the transaction is destroyed.
3) There will never be newly minted Bomb.


if all BOMB tokens have been destroyed, then what do we hold later? surely our money will be destroyed along with the token, ridiculous
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January 22, 2019, 08:34:46 AM
 #13

The rules are simple

2) Each time a Bomb is transferred, 1% of the transaction is destroyed.
3) There will never be newly minted Bomb.


if all BOMB tokens have been destroyed, then what do we hold later? surely our money will be destroyed along with the token, ridiculous


I believe you are confused. Transactions are only destroyed if you send them. Don't send them and your tokens won't be destroyed. You hold what you want. If everyone decides to burn/destroy theirs, your stake in the network will only increase.
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January 22, 2019, 09:30:07 AM
 #14

Cool! Want some... how is coin distributed?

You can view the current distribution cycle at https://bombtoken.com/waves

As we want to ensure to get this token into the hands of people who actually want it, this is subject to change. Wave One has been complete. Wave Two is about to finish up. When thresholds are hit, tokens and distributed to those who claimed them. Hope this helps.
btw, I have seen it on the website, after the token has been distributed, there will be an exchange market available, which I want to ask on what date?

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January 22, 2019, 12:37:56 PM
Last edit: January 22, 2019, 12:59:35 PM by v2urs
 #15

Hi, I find the project as an interesting thing. By its characteristics it will be the token with less movements of all and one would think twice before sending it to an exchange.

Just one question that affects the distribution:

I'm sure there will be people who create multiple email addresses. How do you think to fight against this?

And one observation: start distributing the tokens before announcing yourself in bitcointalk it sounds like you do not want many people to know it from the beginning.
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January 22, 2019, 05:00:04 PM
 #16

Hi, I find the project as an interesting thing. By its characteristics it will be the token with less movements of all and one would think twice before sending it to an exchange.

Just one question that affects the distribution:

I'm sure there will be people who create multiple email addresses. How do you think to fight against this?

And one observation: start distributing the tokens before announcing yourself in bitcointalk it sounds like you do not want many people to know it from the beginning.

I agree with your first premise! Another person in our group also pointed out, the 1% transaction burn could also deincentivize people to remove their tokens from the exchanges, further adding liquidity. Intrested to see how it plays out.

We have some pretty cool technology working behind the scenes to find and ban bad actors. To this day, we have already indefinitely blacklisted 50+ people. Good question!
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January 22, 2019, 09:11:50 PM
 #17

Cool! Want some... how is coin distributed?

You can view the current distribution cycle at https://bombtoken.com/waves

As we want to ensure to get this token into the hands of people who actually want it, this is subject to change. Wave One has been complete. Wave Two is about to finish up. When thresholds are hit, tokens and distributed to those who claimed them. Hope this helps.
btw, I have seen it on the website, after the token has been distributed, there will be an exchange market available, which I want to ask on what date?


The date depends on how quickly people claim all 1M Bomb. There is not set date.
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January 24, 2019, 06:54:24 AM
 #18

WAVE TWO IS OFFICIALLY COMPLETE

Wave Two has officially been completed and 1,500 spots remain until Wave Three ends.

Wave One: 100 Tokens Distributed to first 250 Participants

Wave Two: 100 Tokens Distributed to first 1000 Participants

Wave Three: 100 Tokens Distributed to first 2,500 Participants

Wave Four: 100 Tokens Distributed to everyone after 5,000 Participants


Once you are in a Wave, you receive all future Wave Distributions that follow.
After a designated Distribution Milestone amount is reached, participants will receive
tokens and be updated by email. All tokens that go unclaimed will either
be burned or redistributed back to the community.

Claim Your Bomb: https://bombtoken.com/

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January 24, 2019, 07:08:57 AM
 #19

WAVE TWO IS OFFICIALLY COMPLETE

Wave Two has officially been completed and 1,500 spots remain until Wave Three ends.

Wave One: 100 Tokens Distributed to first 250 Participants

Wave Two: 100 Tokens Distributed to first 1000 Participants

Wave Three: 100 Tokens Distributed to first 2,500 Participants

Wave Four: 100 Tokens Distributed to everyone after 5,000 Participants


Once you are in a Wave, you receive all future Wave Distributions that follow.
After a designated Distribution Milestone amount is reached, participants will receive
tokens and be updated by email. All tokens that go unclaimed will either
be burned or redistributed back to the community.

Claim Your Bomb: https://bombtoken.com/



When the distribution starts for this wave? Smiley (just to know, I check my address and I saw I correctly received 99 BOMBs for the first wave ;-))
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January 24, 2019, 11:38:42 AM
 #20

I will sell my tokens
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