Topic: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue - page 39. (Read 28215 times)
June 18, 2021, 02:34:48 AM
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
June 16, 2021, 06:33:41 AM
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.
June 14, 2021, 12:53:50 PM
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
June 14, 2021, 12:47:47 PM
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.
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.
June 14, 2021, 07:49:14 AM
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.
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.
June 14, 2021, 05:07:34 AM
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.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?
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. June 14, 2021, 05:00:58 AM
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?
June 14, 2021, 04:45:39 AM
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?
June 14, 2021, 03:30:05 AM
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.
June 14, 2021, 03:08:05 AM
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.
June 14, 2021, 01:16:31 AM
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.
June 13, 2021, 06:38:36 PM
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 ?
June 13, 2021, 09:41:44 AM
What's happening? Why is there no forecast of an increase Next Difficulty Estimated (%) in the next round when the network hashrate increases dramatically?
June 13, 2021, 02:52:03 AM
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 :-)
June 13, 2021, 02:12:07 AM
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. 
June 13, 2021, 01:49:36 AM
Has anyone tried joining BGL mining pools? If so, any feedback?
June 11, 2021, 06:59:51 AM
Tell me, why the developers of this coin are hiding. Please add it to the website so we will know them.
June 11, 2021, 05:10:57 AM
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
June 09, 2021, 12:48:12 AM
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 volumeIn 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. June 08, 2021, 06:01:50 PM
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. 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....
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