[ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue

[OcTradism]

I also want a non KYC exchange but an exchange that can attract volume and more traders, this is the first time I read that exchange I do not have anything against the exchange but at this point in time we need a decent exchange that can move the volume and the price, Kucoin is my best bet, but I'm hoping that one day we'll soon get into Binance.

Trade Ogre is not a big exchange but it is good enough to use with acceptable volume. Kucoin is better I agree with you but in the meantime, if the listing verification on Trade Ogre is easy and free, the Bitgesell team can consider it.

How to List a Coin on KuCoin. I don't see Kucoin tutorial writes about the listing fee.

[1714113733]

1714113733

[RallyMe]

Hi,

It says on the bitgesell.ca page that BGL has 21 million coins max. But trades on Digifnex shows several millions week to week and one of the weeks it tops to almost 17million coins.

How many coins have been created already on each BGL coin, WBGL ERC20 and WBGL BEP20  ?

[AmoreJaz]

I also want a non KYC exchange but an exchange that can attract volume and more traders, this is the first time I read that exchange I do not have anything against the exchange but at this point in time we need a decent exchange that can move the volume and the price, Kucoin is my best bet, but I'm hoping that one day we'll soon get into Binance.

Trade Ogre is not a big exchange but it is good enough to use with acceptable volume. Kucoin is better I agree with you but in the meantime, if the listing verification on Trade Ogre is easy and free, the Bitgesell team can consider it.

How to List a Coin on KuCoin. I don't see Kucoin tutorial writes about the listing fee.

i believe listing in trade ogre is easier than kucoin. but of course, the trading volume in kucoin is much much better than trade ogre. but for the meantime, it still depends on the team where they are capable of listing this coin. right now, they have to find ways on how to increase their trading volume in their existing exchanges.

Hi,

It says on the bitgesell.ca page that BGL has 21 million coins max. But trades on Digifnex shows several millions week to week and one of the weeks it tops to almost 17million coins.

How many coins have been created already on each BGL coin, WBGL ERC20 and WBGL BEP20  ?

maybe you can refer to this post here = https://bitcointalk.org/index.php?topic=5238559.msg56786603#msg56786603

1 BGL = 1 WBGL ERC20 = 1 WBGL BEP20

[OcTradism]

i believe listing in trade ogre is easier than kucoin. but of course, the trading volume in kucoin is much much better than trade ogre. but for the meantime, it still depends on the team where they are capable of listing this coin. right now, they have to find ways on how to increase their trading volume in their existing exchanges.

I can not disagree. Kucoin is better than Trade Ogre but Trade Ogre is not a too bad exchange. In the meantime, lower tier exchanges can be helpful for Bitgesell community. If listing fee is free or low, lower tier exchanges should be considered. If they don't have bad accusations, they are not bad ones.
In another efforts to bring Bitgesell to Whattomine, @fredeq replied and if their research ends with good result, Bitgesell will appear on Whattomine. A little good news for us.

[boumalo]

Hello, can someone make a case of why the project could get traction and the price do x50 ?

[Bittoshi]

Hello, can someone make a case of why the project could get traction and the price do x50 ?

This is how I see the whole project (and yes, I already invested some serious money because I truly believe in that great community project Bitgesell and hope it has a bright future):
Bitgesell is some kind of "digital gold", meaning it is designed to securely store value in the blockchain like Bitcoin.
But unlike Bitcoin, Bitgesell has its halvings of mining rewards yearly, not only all 4 years. This means that the inflation (mining block rewards) will decrease much faster over time than it is the case for Bitcoin.
Additionally there is the burn rate of 90% of all transaction fees, which will decrease the supply available over time. You can see here how many coins are already burned:
https://bgl.bitaps.com/
...and with every block new coins will be burned.

Together with the fact that the maximum amount of all Bitgesell (BGL) coins is only 21.000.000 (minus the burned coins of course), it should decrease the supply tremendously over the years.

But there is a lot of work to do to increase the demand of Bitgesell and get traction, e.g.:
- list the coin on more (and larger) exchanges with more volume
- make it more popular => everyone can help here. Spread the word. The more people know about Bitgesell, the more potential new users can be found.
- A whitepaper and timeline should be created by the team together with the community to make it clear to everyone what the goals for the future are.

Bitgesell has not only the potential of x50 but much more. Of course it will probably never reach a market capitalization like Bitcoin or Bitcoin Cash but once it gets a little bit more popular it can easily make a x1000 from the current low market cap (only $248,835 at the time I write this). Even $248,835,000 market cap is not much for a great coin like Bitgesell. Today it would be something like rank 140 on Coinmarketcap after a x1000 (and with growing crypto markets in the future $248,835,000 means even a much lower rank). Nothing impossible. Let's do it: Coin price of $0,025 today => $25 in a few years :-)

 

[RallyMe]

you are ERC20  token has only 300K

But your volume on BGL on https://www.digifinex.com/en-ww/trade/USDT/BGL runs by millions week to week and top almost 17Millions  on one of the weeks. Have you mined already all your coins? Something is not right...hmmm....

[my luck]

you are ERC20  token has only 300K

But your volume on BGL on https://www.digifinex.com/en-ww/trade/USDT/BGL runs by millions week to week and top almost 17Millions  on one of the weeks. Have you mined already all your coins? Something is not right...hmmm....

In order to make a trading volume of 17 million coins, it is enough to make 100,000 transactions of 170 coins each. At the same time, 50,000 times you will buy from me, and the other 50,000 times I will buy from you. We will do this alternately. There are a lot of trading bots on the exchanges, Bro. To do this, you do not need to mine 17 million BGL coins.

[OcTradism]

But your volume on BGL on https://www.digifinex.com/en-ww/trade/USDT/BGL runs by millions week to week and top almost 17Millions  on one of the weeks. Have you mined already all your coins? Something is not right...hmmm....

18,730,687 BTC in circulating supply and there are $49,902,050,442 in trading volume on 8 June 2021. Assumes the average trading price yesterday is $33,500 it roughly means 1,489,613 BTC changed hands. In reality, there are less than 1.4 millions BTC changed hands. Many of them are only credited number of BTC for leverage tradings but has contributions to trading volume

In order to make a trading volume of 17 million coins, it is enough to make 100,000 transactions of 170 coins each. At the same time, 50,000 times you will buy from me, and the other 50,000 times I will buy from you. We will do this alternately. There are a lot of trading bots on the exchanges, Bro. To do this, you do not need to mine 17 million BGL coins.

You are right but I don't like wash trading volume because they are not real and on exchanges with serious effects from trading bots and wash volume, spreads are big. They are not good exchanges to trade.

[EmmaWu]

Congratulations to the winners of the node incentive program!
https://bglcontest.bitaps.com/nodes
2021-06-07
Total network nodes: 240
bgl1q9e5jt7666r8fa54g2vdstp8wwnq2tkmd2a37tq
bgl1q6gktk6ws95jmxe3dwq0el3whhmdcvggx9kgp5u
bgl1qnpz57jakh3jfsgc88rzuxn5zurfdwh8nxznx4d
bgl1qga8eyjpqkxf9pefs6mz6kdru260m89hxf38sgt
bgl1qmhhysju8kpj7s7l3cztcc9tttqk9lyry7l5edc
bgl1qx9ysxwduvryyzvesgnzxt5yp5lvh2ymywjl3uv
bgl1qska8hdvw4dlq90rljcuf44pqq9pp5g2cus8ggs
bgl1qcagqen3709gmvw0e6lvdfswu36hrh86acn5vme
bgl1qwh8fke4dktete94f847ly93hy5cps2ymr97aa7
bgl1qhmmljln8dfgh2esndh4evmddtwq6jcf26tmx4y
bgl1qlf4vsqa2wdkshxazmluhem3gcea9zjtg3lzhve
bgl1qphhz0vaqc8qyufn6hc2wfmd8hf0a2lgxj6964y
bgl1q23r9asc3umc0t6egjzstrjgz6f5w2w8p4l4adr
bgl1qen9l6paegpk0ky9rq3kzhlucv73xzsspst0jxh
bgl1qy7pwlcs293tk8j9cljq6j2xmpjcwphykc3cryd
bgl1q5s4kwty0f3mt88tfqpk4kcg8ev5sjj4lswe9vy
bgl1qnvanx58vzcjk65eu2m5yj46wld0dk6s9hx7q4t
bgl1q8fs72jg2tny7jsvhe2axd88jmvtu8j3ngxuunk
bgl1qh2hcnja9jyg47dy9lnwfwlcax9h9vvf7a3uvr7
bgl1qg5tds0lu5te9607ywgstehrrevu48u0ey052hf
The reward is 950 BGL for everyone.

Congratulations to winner of the transaction contest!
https://bglcontest.bitaps.com
block # 62645
2021-06-10 18:12
The address bgl1qv5ss3h7matzvgmx323xzjyc4dhkgrz3ja8fxdd (93100 transactions).
The reward is 4750 BGL

Reward txid is 562df2ec67bc0c5280bde97168c0290d267f022ae7164807bb3fe995ba48d778

[iTrade2021]

Tell me, why the developers of this coin are hiding. Please add it to the website so we will know them.

[Bttzed03]

Has anyone tried joining BGL mining pools? If so, any feedback?

[vv181]

Tell me, why the developers of this coin are hiding. Please add it to the website so we will know them.

If you do a little bit of research, on the 2nd post the media coverage team and the core developers are listed. You also can look upon the Github contributors about who initiated the project. After all, it's either we didn't even know who is Satoshi, or we are all Satoshi.

[Bittoshi]

Has anyone tried joining BGL mining pools? If so, any feedback?

Joining a pool is easy but I haven't found a good, working and up to date keccak algorithm mining tool for Nvidia GPUs yet to start mining Bitgesell (BGL). If anyone knows a good tool, please share :-)

[my luck]

What's happening? Why is there no forecast of an increase Next Difficulty Estimated (%) in the next round when the network hashrate increases dramatically?

[boumalo]

Hello, can someone make a case of why the project could get traction and the price do x50 ?

This is how I see the whole project (and yes, I already invested some serious money because I truly believe in that great community project Bitgesell and hope it has a bright future):
Bitgesell is some kind of "digital gold", meaning it is designed to securely store value in the blockchain like Bitcoin.
But unlike Bitcoin, Bitgesell has its halvings of mining rewards yearly, not only all 4 years. This means that the inflation (mining block rewards) will decrease much faster over time than it is the case for Bitcoin.
Additionally there is the burn rate of 90% of all transaction fees, which will decrease the supply available over time. You can see here how many coins are already burned:
https://bgl.bitaps.com/
...and with every block new coins will be burned.

Together with the fact that the maximum amount of all Bitgesell (BGL) coins is only 21.000.000 (minus the burned coins of course), it should decrease the supply tremendously over the years.

But there is a lot of work to do to increase the demand of Bitgesell and get traction, e.g.:
- list the coin on more (and larger) exchanges with more volume
- make it more popular => everyone can help here. Spread the word. The more people know about Bitgesell, the more potential new users can be found.
- A whitepaper and timeline should be created by the team together with the community to make it clear to everyone what the goals for the future are.

Bitgesell has not only the potential of x50 but much more. Of course it will probably never reach a market capitalization like Bitcoin or Bitcoin Cash but once it gets a little bit more popular it can easily make a x1000 from the current low market cap (only $248,835 at the time I write this). Even $248,835,000 market cap is not much for a great coin like Bitgesell. Today it would be something like rank 140 on Coinmarketcap after a x1000 (and with growing crypto markets in the future $248,835,000 means even a much lower rank). Nothing impossible. Let's do it: Coin price of $0,025 today => $25 in a few years :-)

 

Thanks for answering, the price is indeed low, it does not mean it will go up ;-)

My computer did not accept to execute the Official wallet and node software.

Is there a faucet or give away I can participate in ?

[EmmaWu]

What's happening? Why is there no forecast of an increase Next Difficulty Estimated (%) in the next round when the network hashrate increases dramatically?

I think there's an issue in explorer, calculating difficulty adjustment using 2-week time window (like in bitcoin), while BGL has 24-hour difficulty adjustment window. Both have target block spacing of 600 seconds, though. Supposedly bgl.bitaps.com explorer is using bitcoin explorer as it's base, so some calculations still using btc parameters.

[my luck]

What's happening? Why is there no forecast of an increase Next Difficulty Estimated (%) in the next round when the network hashrate increases dramatically?

I think there's an issue in explorer, calculating difficulty adjustment using 2-week time window (like in bitcoin), while BGL has 24-hour difficulty adjustment window. Both have target block spacing of 600 seconds, though. Supposedly bgl.bitaps.com explorer is using bitcoin explorer as it's base, so some calculations still using btc parameters.

Yes, I thought so. Many explorers made to bitcoin observe, not only this one, also make mistakes when calculating the network hashrate  and in other calculations. Nevertheless, I am pleased that the power is increases.

[OcTradism]

I think there's an issue in explorer, calculating difficulty adjustment using 2-week time window (like in bitcoin), while BGL has 24-hour difficulty adjustment window. Both have target block spacing of 600 seconds, though. Supposedly bgl.bitaps.com explorer is using bitcoin explorer as it's base, so some calculations still using btc parameters.

Any update from fredeq with the research from Whattomine team? In the last reply, he has interest to list Bitgesell on Whattomine and only wait for research results from his team.

If this coin gets acceptance from Whattomine, and being listed on it, more miners will participate in the Bitgesell mining. Hashrate will increase and it will help the network more healthy in the future as well as catch more attention from investors. Miners usually have big mining communities and don't restrict to a single mining algorithm. They are flexible and will config their rigs to mine the most profitable coins.

[vv181]

If this coin gets acceptance from Whattomine, and being listed on it, more miners will participate in the Bitgesell mining. Hashrate will increase and it will help the network more healthy in the future as well as catch more attention from investors. Miners usually have big mining communities and don't restrict to a single mining algorithm. They are flexible and will config their rigs to mine the most profitable coins.

Is there really any direct correlation if some coin gets a list on Whattomine and it will get miners attraction?

I didn't know about it and want to learn more, could you give me some examples of any cryptocurrencies that get a significant miner attraction after they get listed?