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

[my luck]

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?

This resource in the cryptocurrency world is akin to the CMC aggregator. If the coin or token is not listed on the CMC, then the path of its development will be very difficult, the crypto community trusts CMC or Coingecko. Also for mining coins, Whattomine is an indicator for calculating profit. If BGL is not available on mining aggregators, then expanding the community will be difficult. With all the resulting negative consequences. You can not confirm the work using POW and not tell other miners about it. So far, I see questions in this topic about how can mine BGL without Nicehash using, but I do not see the miners answers.

[OcTradism]

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?

It can not create any attraction after listing. It will make noise on Whattomine if this coin brings profit to miners. If the profit for miners is good enough to be stay at top profitable mineable coins, miners will be attracted to.

If the coin had listed on Whattomine when it rose to $0.24, it would have been a choice of miners.

Also for mining coins, Whattomine is an indicator for calculating profit. If BGL is not available on mining aggregators, then expanding the community will be difficult. With all the resulting negative consequences. You can not confirm the work using POW and not tell other miners about it. So far, I see questions in this topic about how can mine BGL without using Nicehash.

Whattomine has a list that sorts out the most profitable coins for miners and that is why I thought Whattomine can help, not instantly but for future, long time.

[my luck]

Since BGL is traded on the Hotbit exchange, I wanted to warn you about this.
Be careful when using the Hotbit exchange. I've had two problems in the last few days. For the first time, Matic was not credited to my balance, now I can't withdraw TRX. The exchange support responds, but I lose my time and money to support conversation. I do not have such problems when I use other exchanges. Has anyone had similar problems with this exchange recently?

edit... My issue with the TRX withdrawal was resolved, but it take 2 hours for me.

[Bittoshi]

Since BGL is traded on the Hotbit exchange, I wanted to warn you about this.
Be careful when using the Hotbit exchange. I've had two problems in the last few days. For the first time, Matic was not credited to my balance, now I can't withdraw TRX. The exchange support responds, but I lose my time and money to support conversation. I do not have such problems when I use other exchanges. Has anyone had similar problems with this exchange recently?

edit... My issue with the TRX withdrawal was resolved, but it take 2 hours for me.

First, thanks for the warning. Its good to read that your issue has been resolved. I never used Hotbit but had a similar issue on DigiFinex with LTC transfer. I usually buy Litecoins on Litebit.eu to transfer them instantly to Digifinex at a low transaction fee, just to sell them there for USDT, which I then use to buy BGL. The third time I transferred LTC from Litebit.eu to Digifinex they blocked my incoming transaction. The transaction had dozends of confirmations in the Litecoin block explorer, so no problem on Litebits side. It was even visible in my Digifinex account but I could not sell the coins and it took me two working days to solve the issue. Thank god they have a good chat support, not like Yobit where the support never answers.

[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 :-)

 

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 ?

You mean the Windows 10 smart screen that comes up when you try to start the install.exe of the official wallet program? I had the same "blue screen". There is a small button on the left side, where you can install the program at you own risk. The issue here is that Windows does not know the program. The same does not happen if you install the official Bitcoin wallet or Electrum wallet. I am not a programmer but it seems that Windows does not know the signature of the .exe and therefore warns the user. I installed it despite the smart screen warning and the wallet runs properly.
But for the future there should be a way of installing the app in Windows 10 without any warning screens. It will scare a lot of users away.

There is no fauced I know of, but when you run the official wallet around the clock and set it up as a node, you can participate in the node contest:
https://bglcontest.bitaps.com/nodes
https://bitgesell.medium.com/how-to-run-your-own-bitgesell-node-in-less-than-5-minutes-1b7f565f1ed0

[FutureBitcoin]

I will ask again here about this.

There is also no information about which devices can be used to mine BGL. Don't offer Nicehash, it's not a device.

[EmmaWu]

Congratulations to the winners of the node incentive program!
https://bglcontest.bitaps.com/nodes
2021-06-14
Total network nodes: 228
bgl1qnvanx58vzcjk65eu2m5yj46wld0dk6s9hx7q4t
bgl1q2lfgua0s6e9vwnu5dw4pm8vneyhuecp4esnh47
bgl1q3yy8fvhq5ry04p32yyxj3j3hkzelmuunv35xcs
bgl1q8ankh4y4tl7vqtstngcqrj5mweh6h2rk4auagk
bgl1qq03mpxt5epavcpzsvcruktxh9gvwc6j4lg77rs
bgl1qkq46retx588pdyvu2panym9ghrzflpfdlnf2vj
bgl1qchtvtjwjcnzp9hd0q32ae7q2gjmg06af9pcvwr
bgl1qnpz57jakh3jfsgc88rzuxn5zurfdwh8nxznx4d
bgl1q9e5jt7666r8fa54g2vdstp8wwnq2tkmd2a37tq
bgl1qd748n8ux9aquu3736x93t9xzan74cdwm9aftuc
bgl1qetx5aclx3ge22gqns9mv2juj8rmm9fcjky60mu
bgl1q4d9lxtt046q00anklatqq5vf7kdwweatca9ftn
bgl1q8fs72jg2tny7jsvhe2axd88jmvtu8j3ngxuunk
bgl1q5a0z6qnfeg0fcp25fgset2rg9hfxw4lpkjrc4p
bgl1q40w7fvvhl0ekn9qn7zw90u8aejpzqp98zdpu80
bgl1qdlwkyqezxa8gk06hvrklzsvlpnwhg75zmtm3p0
bgl1qd7asmealxsrl6mjxzce6fxu0xk3zwcdwld54vr
bgl1qkugvl8f8u3syvvxhulsvqcpfy3v789n88frqlq
bgl1q38zgtskcksvkzwervmwk65rqsg6sg4ew4avm6n
bgl1qlczlwxdh523yg4dr6hwlhhzn7l58sk0859v56r
The reward is 1400 BGL for everyone.

Congratulations to winner of the transaction contest!
63653
2021-06-16 16:20
The address bgl1qv5ss3h7matzvgmx323xzjyc4dhkgrz3ja8fxdd (74343 transactions).
The reward is 7000 BGL

Reward txid is 087e399a62c46608050f9362f8d1eaef8495716528e10e45e3f9c2cb2ed8d483

[aioc]

Since BGL is traded on the Hotbit exchange, I wanted to warn you about this.
Be careful when using the Hotbit exchange. I've had two problems in the last few days. For the first time, Matic was not credited to my balance, now I can't withdraw TRX. The exchange support responds, but I lose my time and money to support conversation. I do not have such problems when I use other exchanges. Has anyone had similar problems with this exchange recently?

edit... My issue with the TRX withdrawal was resolved, but it take 2 hours for me.

I have a similar problem with Hotbit before the transactions took too long I have to ask for help to their telegram and create a ticket it took me 10 hours to complete my transaction, on Coingecko which I'm always using I just notice that the link to Hotbit is not redirected to BGL - BTC pair, instead of to BTC_USDT, I don't know if I am the only one who's aware of this.

[my luck]

Since BGL is traded on the Hotbit exchange, I wanted to warn you about this.
Be careful when using the Hotbit exchange. I've had two problems in the last few days. For the first time, Matic was not credited to my balance, now I can't withdraw TRX. The exchange support responds, but I lose my time and money to support conversation. I do not have such problems when I use other exchanges. Has anyone had similar problems with this exchange recently?

edit... My issue with the TRX withdrawal was resolved, but it take 2 hours for me.

I have a similar problem with Hotbit before the transactions took too long I have to ask for help to their telegram and create a ticket it took me 10 hours to complete my transaction, on Coingecko which I'm always using I just notice that the link to Hotbit is not redirected to BGL - BTC pair, instead of to BTC_USDT, I don't know if I am the only one who's aware of this.

I also have this problem. The trading pair itself is saved as a bookmark in the browser. I noticed that sometimes I switch to BGL/BTC pair and sometimes BTC/USDT. Most likely, this is the code specifics of the Hotbit exchange itself.

[Boakse]

I will ask again here about this.

There is also no information about which devices can be used to mine BGL. Don't offer Nicehash, it's not a device.

Well, BGL uses Keccak for mining algorithm.
And there is just a very few miners to do this job...

https://minerstat.com/algorithm/keccak

It doesn't mention BGL to mine (what a shame!) but this is the right algo and these are the right miners to use.
I have some X2's mining BGL on the Keccak algo.


Keccak mining hardware:

Fusionsilicon X2  
75 GH/s

Blackminer F1+
34.9 GH/s

Blackminer F1
21.12 GH/s

[my luck]

Well, BGL uses Keccak for mining algorithm...

Thus, at the moment, the network is supported by more than 1000 ASIC devices. This is a good result, so a 51% attack at the price of a BGL coin of 1-2 cents is simply unprofitable economically, the network is well protected.

[my luck]

Now you can join the discussion of the project in Russian local. The more people know about the project, the faster the coin will take its deserving place.

[Mihawk]

I finally joined the signature campaign to be able to support BGL. Regarding price and adoption, it's a matter of time for things to improve because there are few reliable store of value projects in the market. As long as BGL continues to develop and strengthen and grow its community, the result will be immediate. It's also necessary other ways of use.

[my luck]

I finally joined the signature campaign to be able to support BGL. Regarding price and adoption, it's a matter of time for things to improve because there are few reliable store of value projects in the market. As long as BGL continues to develop and strengthen and grow its community, the result will be immediate. It's also necessary other ways of use.

Murat, the manager of the signature campaign, has not yet confirmed your participation, but I think in the near future.

It's also necessary other ways of use.

What exactly do you mean by saying this? Do you have any suggestions?

[OcTradism]

Murat, the manager of the signature campaign, has not yet confirmed your participation, but I think in the near future.

The manager usually update the list of participants on Monday, after the process of each weekly payment. Sometimes, Murat update both at the same time, sometimes Murat announces the payment and updates the list of participants a few hours later.

It is Friday, so @Mihawk need to wait for Monday at least.

Regarding price and adoption, it's a matter of time for things to improve because there are few reliable store of value projects in the market. As long as BGL continues to develop and strengthen and grow its community, the result will be immediate. It's also necessary other ways of use.

The total supply is good enough for a break out if the Bitgesell team can make good products, build up good partnerships and have good marketing.

As an ex-participant, I will keep watching Bitgesell project and wish best for them.

[Murat]

It is Friday, so @Mihawk need to wait for Monday at least.

Yes, will add him from next week as this week is coming to end in 2 days.

@everyone if you have ideas that can benefit the project, feel free to share your ideas via PM. I personally believe in this project & looking for ideas that will help ''mass adoption''.

[my luck]

If I run the dumpwallet <file name> command to upload private keys, then I see data in the target file

Code:

# Wallet dump created by Bitcoin v0.1.6-unk
# * Created on 2021-06-26T18:50:15Z
# * Best block at time of backup was 65076 (00000000000001c34c1de0bbb4b77244534fc06b07b93e4bccb7bcbe87f504f9),
#   mined on 2021-06-26T18:44:46Z
...

But I think it would be more correct to specify. Isn't it?

Code:

# Wallet dump created by BGL Core version v0.1.6-unk
...

[vv181]

But I think it would be more correct to specify. Isn't it?

Yep, it's better if the text suits the coin name, it will also prevent confusions. I took a quick look at the source code, and changing it should be pretty straightforward. https://github.com/BitgesellOfficial/bitgesell/blob/9cfd1eb2144fafbcd0099e96d991ad1884ad7a3d/src/wallet/rpcdump.cpp#L776

 

[EmmaWu]

Congratulations to the winners of the node incentive program!
https://bglcontest.bitaps.com/nodes
2021-06-21
Total network nodes: 243
bgl1qkq46retx588pdyvu2panym9ghrzflpfdlnf2vj
bgl1qyhvl7h3xvjrhyqlnwtrtznfukvj8tpn3j6mquk
bgl1qfrm60940ernfuu44kel9hwtu3lvygzxjkr5kmj
bgl1qtv5s2rfdupxpynpp58d77myyh8hwv2932c95al
bgl1quqfffe9gulaq4nqqnf50dxtwmw6cru6pze5g4k
bgl1qmrhjkrklcyzggum58e8d7kwj2494ehunqjycjy
bgl1qk7v986srwh6u7qy4zkj282cq6sc8vd6clhknmu
bgl1qvapcrdnq3jss2hgpk4wcrh5c4prnmqx7lyga2l
bgl1quymqleskuhmel9xvxf5e9pw8sumdyrwmspdvar
bgl1qh3se3uw05e9avy70y6v5ckv9cecnumlgh7nvgj
bgl1q23pt8ulx5fayz8kzsfjmjx9u5n3jfua87qxc7s
bgl1qtncte2jdapmnvnhftn5j2c0pc7yd5g5ckc7lyn
bgl1qs309l0w3cplgxcgqp7nye5qarfk83axu2s3s6j
bgl1qchtvtjwjcnzp9hd0q32ae7q2gjmg06af9pcvwr
bgl1qc6u073ll4uxap89sy9l7nl9kg935zza0f2wcgm
bgl1qq63upwl6h86ju8ha8fph0njx0djrle99t03xzn
bgl1qtqszp99dxnx807znfqkanjkq4s0fc7fz7ykzwh
bgl1qcagqen3709gmvw0e6lvdfswu36hrh86acn5vme
bgl1q7prt03j3xmfhk86jqcp5z3em38h08nnyu660ah
bgl1q8ankh4y4tl7vqtstngcqrj5mweh6h2rk4auagk
The reward is 1050 BGL for everyone.

Congratulations to winner of the transaction contest!
64661
2021-06-23 17:41
The address bgl1qv5ss3h7matzvgmx323xzjyc4dhkgrz3ja8fxdd (73077 transactions).
The reward is 5250 BGL

Reward txid is a208d8df5820158ae8e5290fae1d02bcd755823bc5100ce1cb3463c0063c96f8

[Texac]

I already bought a few thousand, i will buy more as soon as i see some good progress with the development and marketing of the project. I will buy more and more as much as possible.  I believe in your success.