Please start new topics by following this template & introduce your project’s idea:
- Token Name: ButtCoin
- Symbol: 0xBUTT
- Contract: 0x7C1056ac0F7D223C4297e0c683453EE625011B1f
- Website: http://www.0xbutt.com/
What does ButtCoin (0xBUTT) do?
- Mineable token (POW) with greater differences than a BTC as explained below.
- Every 3 years of the mining inactivity, the mining difficulty decreases.
- Every 95% of the token burning, the mining difficulty decreases.
- Every mining epoch the difficulty increases.
- Every mining epoch the amount of awarded tokens increases.
- Every transaction is burning 1% of a token by sending it to address(0).
- Every transaction is sending 1% to a previous sender, and therefore rewards transactions (and may cover transaction fees, extra earnings are possible).
- Every mining award correlates the mining difficulty, and miners simply get paid for the work they did.
- Mining can go to infinity, and is regulated by token burning and the rapid mining difficulty increase.
0xBUTT model is meant to achieve the following:
- Fair distribution and fair awards according to the work performed and the wasted electricity.
- Given the increasing mining difficulty, it encourages the smart mining that is done only when necessary (rather than wasting the electricity by the constant mining).
- A deflationary currency which prevents the market manipulation.
- A currency that does not become a store of value, since it is always mine-able.
- A currency model that can simply exist forever and cannot be destroyed or manipulated since it can be mined to infinity.
- Encourages the growth of technology as a solution, rather than manipulation of the market by people who have enough money to invest into mining farms.
- Encourages people to combine their mining powers together rather than letting the mining clusters compete for the resources.
- The combined mining encourages the greater distribution of a token, and therefore, less manipulation.
- Burning of a token with the rapid mining difficulty increase makes sure that there are more deflationary periods and that inflation happens by mining and in short periods.
-4% pre-minted as a kick-start only (equally divided to community, exchanges, and developer fees/maintenance).
-4% becomes insignificant and lost over time, since the token can be mined and burned to infinity.
-Circulating supply is always a total and a current supply, since it can be mined to infinity.