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Author Topic: [ANN][BTCCF] "Bitcoin Counterfeit" an Auction based token Counterparty & Omni  (Read 433 times)
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April 24, 2017, 10:44:18 AM


In the past we played around with bitcoin Counterfeit, but the coin was eventually NOT released. Now we want to try again, but have it as an auction based token. Let me explain. To discover what the price is of a bitcoin Counterfeit people with Counterparty and Omni tokens can send tokens listed on Coinmarketcap to a specified address.

Whoever bids the highest in the tokens listed above gets all the coins send to the specified address on the Counterparty or Omni platform.

There will be 21.000.000 bitcoin Counterfeit max, 10.500.000 on Counterparty and 10.500.000 on Omni.
Daily people can send tokens and the highest bidder gets all the tokens send to the specified address + 3600 bitcoin Counterfeit tokens on both platforms.

It's a good question why would you want an auction based token?
It has a few reasons, first price discovery
Second it also enable some of the coins on these platforms to be used for something as you can see here:
And above some coins got a "low vol"

It would also be a way to watch the two platforms face off.

This auction based token also needs a few rules so everybody knows what's up.
First: Every 24 hours 3600 bitcoin Counterfeit tokens are send to an address that we hold the privatekey to, if you win the auction, you'll get this and can of course send the tokens to another address.
Second: We'll charge an 1% in the highest bidding coin on both platform when we release the privatekeys, this is to pay for costs (tx fees, lazy admin costs etc)
Third: One bidder per one coin (and we don't mean Onecoin LOL), so if somebody already send a coin to the specified address don't repeat send another coin.
Fourth: Highest bidder wins all the coins send to the specified addresses.

How are we not scammers, who won't just take the money and just run?
Yeah we got a lot of clowns in this space who think they are smarter than other people (And eventually end up in jail, because they are not that smart). We're just a simple bunch who want to experiment to see how things goes, but to answer the questions with numbers:
I think that the daily 7200 bitcoin Counterfeit tokens pay out is a milestone that makes us behave predictable. We got a long way to go before all 21M will be out the door. BTW the project/idea is just to have fun and see some sleeping coins move again  Grin

If people like this idea we'll launch the token on both platforms and get busy. Let me know what you think?

This doesn't really say much, but bitcoin Counterfeit, got over 800 likes:

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