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Topic: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue - page 65. (Read 28119 times)

tippytoes
sr. member
Activity: 1988
Merit: 275
Re: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue
April 07, 2020, 08:04:28 AM
#4
What are your goals that you want to achieve for this project? And since you mentioned that it is in honour of Silvio Gesell, I googled it as honestly, I don't know him.

https://en.wikipedia.org/wiki/Silvio_Gesell

His economic philosophy is great but in reality, it's not happening to us. Do you know by any chance any area or country that is practicing his concept or at least near to what he wanted? You have a lot of things to do here. I hope you are not relying from the community to accomplish those things that you listed. Domain and website is a basic task to accomplish by the dev himself.
zechs1994
newbie
Activity: 28
Merit: 0
Re: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue
April 07, 2020, 07:48:17 AM
#3
Add node please
EmmaWu
copper member
Activity: 161
Merit: 67
Re: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue
April 07, 2020, 05:31:37 AM
#2
Hi dear BGL community!

We have a few paid initiatives and possibilities, which could help to uplift the project greatly.
We did discuss with a community what is most relevant and important, so here's the list of options:


Paid activities:

Bounty/Improvement Program ($50 000 budget)


BGL node incentive program:
Every week (1008 blocks) 10 nodes would be randomly picked and awarded $5 each.

https://bglcontest.bitaps.com/nodes (some fixes to the UI are pending and would be corrected)
Hourly updated list of nodes: https://bglcontest.bitaps.com/nodes_list

Payouts are now done automatically from address https://bgl.bitaps.com/bgl1qe66smvq80dclu6srtparcesj3np7wmlvfj3wzs


I decided to also fund most of the big activities with BGL coins in the amounts to get them covered when the price reaches $1.

All supporters could provide their Name/Nickname and in such case would be mentioned on forum and a file in Git repository

PS: We have public wallet for donations in genesis block:
"Your support helps ecosystem keep growing. bgl1qkecxxg8ekyruwkkhea7ye5c0ganmhdl7d5nna3".
A large coin number is accumulated there for the future.
We plan to divide it to six parts and spend one part each year to support the project.
The wallet is transparent, if anyone would like to manage this activity and arrange a pipeline it would be very welcome.

We also have burn address: bgl1q00000000000000000000000000000000tm54qt
All coins that are sent to it, would be considered burned. You can use it for any activities that use burn feature

Roadmap:

Tactical tasks (approx. time):
- (done) Stress-test (let's make transaction contest, rules would be announced soon);
- (done) Technical issues (unit tests, code sync with BTC codebase, automated builds);
- (done) Software (wallets) - we are going to make hackatons;
- (done) Infrastructural growth (node growth incentivizing, as bitnodes did with goal of 1000 nodes);
- (done) Cross-chain and DeFi integration (WBGL);
- Implement and merge dynamic block size; https://bitgesell.ca/download/bglips/bglip1.pdf
- Switch to community governance for BGL public wallet and project (grants for project development);

Strategic priorities:
- Core team expansion and formation;
- Marketing activities, social media channels;

Advisory wanted:
  • DeFi-knowing people and decentralized bridge to BSC/Ethereum, similar to wrapped BTC
  • How to most effectively establish code maintaining process? (Maybe Bitcoin is not the perfect example, considering how hard is to make any change go through main maintainers) The main idea is to have community-driven flexible management.
  • How to organize website maintenance (including content)? Open-sourcing website looks like a proper first step.

Project traction:
EmmaWu
copper member
Activity: 161
Merit: 67
Re: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue
April 07, 2020, 05:22:25 AM
#1
Bitgesell (BGL)

This project is called in the honour of Silvio Gesell.
He created monetary units that were losing their nominal value over time (demurrage) and combined with currency emission this would result in people spending them quicker and incentivizing economic activity. He called this as a term "freigeld". Modern monetary policy that includes planned inflation as depreciation is influenced by the ideas of Silveio Gesell as well.

This project have combined the concept of "freigeld" and gold as traditional store of value and demurrage works in reverse (not the way it was used for currency but for gold) adding more properties of digital gold through gradually increasing scarcity over time. Could you imagine gold which volume in existence is gradually decreasing over time?

One of the essential functions of money is that it constitutes a means for saving and securing the fortune of people, since it guarantees immediate cash flow. In the pre-banking era, the house or the ground served as a safe where they kept and hid their small or large savings and hoards, both during wars, enemy raids and natural disasters as well as during peaceful times. The private banks and those operating inside sanctuaries in the ancient Greek Roman world are the forerunners of the banking system that was organized and developed in the late Medieval period and in Modern times into the banks of the mercantile societies of Venice, Genoa and the Netherlands. Cryptocurrency is new generation type of organization for solving this issue. Bitgesell - Future of Bitcoin and True store of value.

Code is widely based on bitcoin code, so it is stable and reliable.
Blockchain started 04/04/2020.

Website: https://Bitgesell.ca (https://BGLcore.org)

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

DEXes:
Bridge for transferring BGL <-> WBGL on Eth/BSC
https://bglswap.com

Wrapped BGL (WBGL) on Ethereum blockchain:
https://etherscan.io/token/0x2bA64EFB7A4Ec8983E22A49c81fa216AC33f383A
BGL custodian address (Eth): bgl1q70vhymm0espyccv6qfxrnc8nqtxuruxlcap06u

Wrapped BGL (WBGL) on BSC blockchain:
https://bscscan.com/token/0x2bA64EFB7A4Ec8983E22A49c81fa216AC33f383A
BGL custodian address (BNB): bgl1qal6q9fv57t57tgmppkeqwh7xyex7ake2uuzyj3
rules are described in this post https://bitcointalksearch.org/topic/m.56786603

Optimism (L2 rollup) chain https://optimistic.etherscan.io/token/0x2ba64efb7a4ec8983e22a49c81fa216ac33f383a
BGL mainnet custodian address: bgl1q327ljj0tzja2j7mvfnyfeqenhazwfcpha0xz88

Arbitrum (L2 rollup) chain https://arbiscan.io/token/0x2ba64efb7a4ec8983e22a49c81fa216ac33f383a
BGL mainnet custodian address: bgl1qhhsh234z4fzrwcncta657etyd36ayt67qvvn3a
rules are described in this post https://bitcointalksearch.org/topic/m.63707153


The contracts were audited by CertiK, you can find report here: https://bitgesell.ca/docs/Certik-WBGL-Report-22_04_2021.pdf


Specifications

Essentially this is a full bitcoin fork, but:
Block Reward = nFees*0.1 + GetBlockSubsidy()    // Burn rate is 90% of tx fees (https://www.blockchain.com/charts/transaction-fees)
Block Weight <= 400,000;                                     // 10 times smaller than bitcoin
100% Segwit                                                          // Eliminates problems with legacy types of transactions
Halving Interval = 210000 blocks / 4;                    // Halving is every year (bitcoin halving is every 4 years)
Block Subsidy = 50 * 4;                                         // 21 000 000 coins max
Hashing algorithm for blocks is Keccak (sha-3).

https://github.com/BitgesellOfficial/bitgesell

Documentation resource: https://bitgesell-docs.netlify.app

Take part and join #realstoreofvalue #thehardestmoney community:
https://discord.gg/ceEqhxchzN
https://t.me/bitgesellofficial
https://twitter.com/bit_gesell

Official Wallet software:
    • https://bglwallet.io
      Lightweight cross-platform serverless wallet (no installation required and securely stores information) for:
          - Web version;
          - WebExtensions (Chrome Extension);
          - Android app in Google Play and APK;
          - Linux app in Snap Store, AppImage, deb;
          - Windows app and portable version.
          (developer bonus wallet: bgl1qx4yjdtqvz5wczemcvz6nwlaewyyv629eglyem3)
    • https://bitgesell.ca/downloads/
      Official wallet and node software for most popular operating systems
    • https://bglrpc.com
      Web wallet and BGL RPC endpoint

    Block explorer:

    Projects using BGL/WBGL:

    Mining Pools:

    Software:

    About project in media:

    Videos:
    Explainer video from Professor Crypto - https://www.youtube.com/watch?v=RTIR89HMH_U
    Professor Crypto - https://www.youtube.com/watch?v=8ZI0CvhgOyc
    Bitcoin for Beginners - https://youtu.be/QkUGIxjdjaA
    The right traders - https://www.youtube.com/watch?v=ZzjhstNSi50
    https://www.youtube.com/watch?v=FzsRCH8JDEM
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