[ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue - page 53.

EmmaWu

copper member

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Quote from: my luck on March 01, 2021, 04:42:08 PM

Today I run a node to support the project through greater decentralization. Can you tell me what resource I can use to control whether my node is working or not? Maybe a list of nodes...

Hey guys, a minute of updates!

1. Hourly-updated list of BGL nodes can be found here: https://bglcontest.bitaps.com/nodes_list

2. BGL node contest is extended and expanded

so there would be 20 nodes awarded each week! And contest would last till next halving (March 2022)! If someone wants to escrow that, it's possible too.
Note: nodes are picked throughout the week, not at the interval close, so better create 10 more nodes with proper uptime than create 40 for few hours.

Interesting news, check this out:
https://dailyhodl.com/2021/03/07/ethereum-poised-to-become-a-deflationary-asset-as-eip-1559-gets-approved-for-july/

Top coins become deflationary. Wonder what about BTC in that regard

robelneo

legendary

Activity: 3416

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Enjoy 500% bonus + 70 FS

Quote from: ?? on ??

Is there the latest news? I just checked social media and also Telegram Channels. no new news. but if I check on Hotbit it turns out that only Digifinex has increased Cheesy

Congrats to all holders if you trade on Digifinex. I still hold on Hotbit

Long time holders should keep on holding and those who stumble this project the first time should buy while so cheap, the community is growing so there is a potential, I have read some media coverage or write-ups and all of them are positive, it will take some time before Bitgesell get the attention of the whole community, but this is a new coin under 10 cents with a low supply that's worth holding.

Angel.ALT

newbie

Activity: 178

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Delete

SPQRCoin

legendary

Activity: 2380

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You need to fix the link for your project that is listed in your github repository https://github.com/BitgesellOfficial/bitgesell

Quote

Official thread: https://BGLtalk.org/index.php?topic=5238559.0

and it's the right thing to do https://bitcointalksearch.org/topic/ann-bitgesell-store-of-value-burn-rate-is-90-of-tx-fees-realstoreofvalue-5238559

my luck

legendary

Activity: 2744

Merit: 1706

bitgesell.fun & bitgesell.space

Wow, wow, wow, what's happening? Shocked

I see a big squeeze up on the Digi. The support is still weak, but this is already very interesting, I will watch it.

SPQRCoin

legendary

Activity: 2380

Merit: 1132

Quote from: eschro on March 03, 2021, 07:52:51 PM

But then I find out it is POW. Not against it in principle, but why waste all that money on gpus, electricity, computers?

No matter how it sounds, but POW confirmation of consensus if you take such coins as bitcoin, now the most secure and strong model. No hacking, not even an attempt to attack 51%. I see good potential in BGL, but developers need to think about protecting the coin chain.

eschro

newbie

Activity: 3

Merit: 0

New guy here. Not a dev, just someone looking to find the best crypto out there.

BGL caught my eye. Store of value is great. Burn rate creates deflation, price goes up, very nice.

But then I find out it is POW. Not against it in principle, but why waste all that money on gpus, electricity, computers? Instead use it here, invest in what is needed. Why not use that money to buy BGL, and spend it to pay development, audits and dividends? Pay the investors, pay the workers and put money aside for rainy days. Plus, burn for deflation. Staking should pay for internet/computer time and initial investment. Transaction fee should pay to keep the project going.

Bitcoin was created to replace money. It has its flaws, and it works better as digital gold at this moment. It's still not ideal, but it's what we have right now.

If BGL wants to succeed as digital gold, it should aim a lot higher. Gold is good, gold that pays you is even better. Reward the hodlers and keep the project funded and developing, and everybody will want in. This, in my opinion, is the way to beat BTC.

Still an interesting project, but staying with POW is an uphill battle IMO.

coin-investor

hero member

Activity: 3108

Merit: 616

Leading Crypto Sports Betting & Casino Platform

I love to see Bitgesell on Kucoin, this is an exchange that only lists the best and coins with good potential, we really need at least three Tier 2 exchange, but Binance will make a great impact on the future of Bitgesell, I'm glad they've extended the campaign to 4 more weeks we need this to get people to know Bitgesell and of course the coming halving.

matchi2011

sr. member

Activity: 1456

Merit: 267

Buy $BGL before it's too late!

Quote from: Altcoin Reviewer on March 02, 2021, 05:04:28 AM

I see BGL is making a lot of noise in the forum lately which is great. I would like to trade BGL on FTX or some Tier 2 Exchanges. I think spending money on low-tier exchanges is a waste of money.

Tier 2 Choices -

FTX
Bithumb Global
Gate.io
Okex
Bittrex
Kucoin

or some other reputable exchanges. Try to get in FTX, please.....

Nice to see this and hope the team will push this out, it will gain more people / traders to learn about this project,
big exchange will help to reach more investors.

Time to work it out, spending money to reach tier 2 exchange is far better than listing to small exchange that only
give small attention. Best of Luck Team!

SPQRCoin

legendary

Activity: 2380

Merit: 1132

Quote from: my luck on March 01, 2021, 04:42:08 PM

Today I run a node to support the project through greater decentralization. Can you tell me what resource I can use to control whether my node is working or not? Maybe a list of nodes...

You can launch the wallet and see list of peers that are currently connected to the network. In the additional window, you can see different parameters, including the block height for each node.

my luck

legendary

Activity: 2744

Merit: 1706

bitgesell.fun & bitgesell.space

Quote from: Altcoin Reviewer on March 02, 2021, 05:04:28 AM

I see BGL is making a lot of noise in the forum lately which is great. I would like to trade BGL on FTX or some Tier 2 Exchanges. I think spending money on low-tier exchanges is a waste of money.

Tier 2 Choices -

FTX
Bithumb Global
Gate.io
Okex
Bittrex
Kucoin

or some other reputable exchanges. Try to get in FTX, please.....

Yes, this is a good list. Maybe excluding Kucoin, which has not very good reviews from traders related to the delay in the withdrawal of funds.

Quote from: EmmaWu on March 02, 2021, 01:35:05 AM

Quote from: my luck on March 01, 2021, 04:42:08 PM

Today I run a node to support the project through greater decentralization. Can you tell me what resource I can use to control whether my node is working or not? Maybe a list of nodes...

This is a good idea, thanks! I'll ask guys to make a full node list page so we could see the current status of the network

That would be nice. You can also add flags for the countries where the nodes are located so that the user can rent a VPS in places where the coin network is low.

Altcoin Reviewer

jr. member

Activity: 202

Merit: 1

I see BGL is making a lot of noise in the forum lately which is great. I would like to trade BGL on FTX or some Tier 2 Exchanges. I think spending money on low-tier exchanges is a waste of money.

Tier 2 Choices -

FTX
Bithumb Global
Gate.io
Okex
Bittrex
Kucoin

or some other reputable exchanges. Try to get in FTX, please.....

EmmaWu

copper member

Activity: 162

Merit: 68

Quote from: my luck on March 01, 2021, 04:42:08 PM

Today I run a node to support the project through greater decentralization. Can you tell me what resource I can use to control whether my node is working or not? Maybe a list of nodes...

This is a good idea, thanks! I'll ask guys to make a full node list page so we could see the current status of the network

SquirrelJulietGarden

hero member

Activity: 1442

Merit: 775

Quote from: terciduk123 on February 27, 2021, 07:53:07 AM

So, for one transaction we need 20 BGL as a transaction fee. If calculated, the transaction fee is 20 x $ 0.02 USDT = $ 0.4 USDT. for now it is cheap, but if the price of BGL increases to $ 1 USD, the transaction fees will be very high, I hope you prepare a solution before this happens.

You need to clearly classify the withdrawal fees on exchanges and transaction fees if you make your BitGeSell transactions from your own wallet.

If you are moving your BitGeSell from one exchange, you will be charged withdrawal fee and believe me, withdrawal fee on exchange is never be cheap as same as the fee you pay from your own wallet.

Quote from: TimeTeller on March 01, 2021, 05:47:20 PM

Why is the transaction fee very expensive?
Because if that's the case, I don't think this coin is practical to use in the payment sector.
Maybe, it depends on the exchange, like for example, it was mentioned above, hotbit, they are charging 20BGL, whereas in crex, only 1.5 BGL.
But why it is expensive in hotbit? The gap of service fees is very wide.

1.5 BGL and 20 BGL are very different withdrawal fee. The withdrawal fee on HotBit is 13.3 times more expensive than on Crex24.

TimeTeller

hero member

Activity: 2744

Merit: 588

Quote from: terciduk123 on February 27, 2021, 07:53:07 AM

Quote from: sloiz on February 24, 2021, 06:05:53 AM

Quote from: terciduk123 on February 22, 2021, 08:53:23 PM

Quote from: Murat on February 22, 2021, 11:43:52 AM

The more exchanges, the more traders and the greater the trading volume. Does Bitgesel have any partnerships or supporters? Currently coins that use their own blockchain have great potential for growth. How much is the transaction fee for each BGL transfer from one wallet to another?

The standard tx fee is at 20BGL!

So, for one transaction we need 20 BGL as a transaction fee. If calculated, the transaction fee is 20 x $ 0.02 USDT = $ 0.4 USDT. for now it is cheap, but if the price of BGL increases to $ 1 USD, the transaction fees will be very high, I hope you prepare a solution before this happens.

Why is the transaction fee very expensive?
Because if that's the case, I don't think this coin is practical to use in the payment sector.
Maybe, it depends on the exchange, like for example, it was mentioned above, hotbit, they are charging 20BGL, whereas in crex, only 1.5 BGL.
But why it is expensive in hotbit? The gap of service fees is very wide.
And can they enumerate why this coin has real store of value? Thanks.

my luck

legendary

Activity: 2744

Merit: 1706

bitgesell.fun & bitgesell.space

Today I run a node to support the project through greater decentralization. Can you tell me what resource I can use to control whether my node is working or not? Maybe a list of nodes...

EmmaWu

copper member

Activity: 162

Merit: 68

Quote from: terciduk123 on February 27, 2021, 07:53:07 AM

Quote from: sloiz on February 24, 2021, 06:05:53 AM

Quote from: terciduk123 on February 22, 2021, 08:53:23 PM

Quote from: Murat on February 22, 2021, 11:43:52 AM

The more exchanges, the more traders and the greater the trading volume. Does Bitgesel have any partnerships or supporters? Currently coins that use their own blockchain have great potential for growth. How much is the transaction fee for each BGL transfer from one wallet to another?

The standard tx fee is at 20BGL!

So, for one transaction we need 20 BGL as a transaction fee. If calculated, the transaction fee is 20 x $ 0.02 USDT = $ 0.4 USDT. for now it is cheap, but if the price of BGL increases to $ 1 USD, the transaction fees will be very high, I hope you prepare a solution before this happens.

The tx fee is measured in 10^-6 BGL per tx vbyte
For example, simple transfer like this https://bgl.bitaps.com/bcc441fc45be740e2280df899c6b0eca4f0febef47902249a197af87e6acda14
is 0.00005000BGL because there is not much competition for the block.

If you withdraw BGL from HotBit exchange, 20 BGL is their service fee, it's not a transaction fee.

We have the ability to create lightning network like BTC does if the price goes high and transactions become expensive.

And congratulations to the winners of the node incentive program!
https://bglcontest.bitaps.com/nodes
2021-03-01
Total network nodes: 87
Here's winners list:
bgl1qfptc3dz5l4fucla5edt2szr7dx9tfhdgr7me5s
bgl1q0fx999llf8c6wknjcfqs6f7wyyxhc7dsqwmfux
bgl1qzcyg2v7wd0cggwgw2re0ea38j0fxpucv5q02sn
bgl1qhfptx6vymtx4xtup5jqcrmfcrg7703v492yvjn
bgl1qws5y74ure8gs7en3vc7j449vxd6ftpy3xtqr5j
bgl1q883rkg0vck8jp0vmupcvjv82rhphf6tm3qvatt
bgl1qre2fq833efqcq8k6py75cqyjaeh47v6uqcsxyq
bgl1qczfq6audnx8ts7eyk4859hcn0xsv06f3rzvwch
bgl1qty5tdqsrvj9feslj7gzvj7tqwwypwrz6fjttau
bgl1qzsl0s38t5wfs8xgsneavjau03pprzemm9g3rxt
The reward is 1050 BGL for everyone.

Congratulations to winner of the transaction contest!
https://bglcontest.bitaps.com
block #48533
2021-02-28 07:21
The address bgl1qyek697qhpjygwk52uzz8pmwy5k0cpqlg9ysw9c (50724 transactions) It's new absolute record!
The reward is 5250 BGL

Reward txid is 58601e4f14c9371f81d999a139e9cfb6c0c83f56d9e2552a15e2b670dd591e9d

Murat

hero member

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Quote from: Mpamaegbu on February 27, 2021, 09:46:50 AM

I have checked the supply and it's still 21 million tokens, nothing has been burnt there. So, what could that burn rate be?

https://bitgesellexplorer.com/

Coin Supply (BGL)
9,419,818

https://coinmarketcap.com/currencies/bitgesell/

Max Supply
21,000,000
Total Supply
9,729,419

Less than 10M supply ATM. We spotted a low cap gem here. Also, the halving is coming this month!

coin-investor

hero member

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Quote from: terciduk123 on February 27, 2021, 07:53:07 AM

So, for one transaction we need 20 BGL as a transaction fee. If calculated, the transaction fee is 20 x $ 0.02 USDT = $ 0.4 USDT. for now it is cheap, but if the price of BGL increases to $ 1 USD, the transaction fees will be very high, I hope you prepare a solution before this happens.

You have a point, I'm looking at a higher price like what if BGL reaches $100, that would become an expensive fee in the industry, there should be a solution for this and I also want to know how they are going to address this, I believe in the project and the price of the BGL is very much depended in the community and the development, we all want to work on issues that will soon confront us and fee is a big concern.

Mpamaegbu

legendary

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Once a man, twice a child!

Quote from: terciduk123 on February 27, 2021, 07:53:07 AM

for now it is cheap, but if the price of BGL increases to $ 1 USD, the transaction fees will be very high, I hope you prepare a solution before this happens.

Well, I would say "why not enjoy the moment with the cheap transaction fee and allow the devs to take care of the future?" On the other hand, I am not sure I truly understand what is meant by "burn rate is 90% of tx fees" Does anyone truly know? I have checked the supply and it's still 21 million tokens, nothing has been burnt there. So, what could that burn rate be?

Topic: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue - page 53. (Read 28349 times)