My name is David and I am a community member/moderator for BitcoinSoV. I am taking the initiative to make this post as we are 100% community based and rely on the people to drive this project forward. I have just recently learned about Saturn when we were invited to make this post, from what I can tell this is a pretty awesome community, so I hope we can meet your standards.
- Token Name: BitcoinSoV (Bitcoin Store of Value)
- Symbol: BSoV
- Contract: 0x26946ada5ecb57f3a1f91605050ce45c482c9eb1
- Website: https://www.btcsov.com
- Circulating Supply: 1,700,000
- Total Supply: 21,000,000
- Precision: 8
- Algo: Keccak256 (SHA3)
- Mining Rewards: 50 BSOV per Block
- Target Block Time: 10-13 Minutes (60 Ethereum Blocks)
- Current Block Time: 6-8 Minutes.
- Max Supply: 21,000,000 (theoretical max, it’s already lower due to token burn)
- Reward Halvening: 10,500,000 Tokens Mined
- Expected Time To Halvening: ~5 years.
- Expected Time to Max Supply: ~15 Years.
- Burn Rate: 1% Per Transaction* (See notes below).
BitcoinSoV is a mineable token on the Ethereum blockchain, with a 1% deflationary burn on every transaction. I will give you a minute to let that sink in, and hopefully get past any immediate bias or defense mechanisms you may have.
Firstly, this is the part that almost turned me away from the project. I didn’t like the name at first but it has since grown on me, though I still prefer to call it BSoV. The idea is that it’s based on Bitcoin’s original ethos, being 100% mineable, decentralized, and grass roots with a max supply of 21,000,000.
The contract is based on ERC918, specifically the 0xBitcoin contract code, which has been battle tested. This is the only current implementation of PoW on the Ethereum blockchain, with CPU/GPU/FGPA keccak256 miners already out.
Mining is purely for minting operations as we piggyback off of Ethereum for security. There is no possibility of a 51% attack.
We believe that mineable tokens are the fairest distribution model when compared to ICO/Airdrops.
This contract burns 1% of each transaction to create an active deflationary mechanism as you may have seen in other tokens with less fair distributions. The burn is a true 1% burn, units that cannot be divided are rounded down with no burn. (0.00000001 BSoV)
This token is a smart contract that has been launched, and barring any significant exploit found in 0xBitcoin, there is no plan to ever migrate away from it. As such, the token is completely operated by the community and has no plans to evolve into its own blockchain or anything else.
The community has come together to create videos, promotions, airdrops, bots, and more. If you are already participating, or get involved from reading this post and obtain a significant amount of BSOV, please consider donating to the marketing fund @ https://etherscan.io/address/donate.bitcoinsov.eth
Since the token is decentralized and community driven, there is no marketing fund, or any real push to drive up price this early. Everyone is focused on the ecosystem and getting people involved at low cost right now. I encourage everyone to take a look into the project, the community, and the technicals and come to your own understanding of who we are and what we represent. We believe that we represent free, fair, and decentralized crypto as was originally intended.
I am sure I missed something, please feel free to ask if you have any questions! I’m glad to be here!