BitcoinSoV

Introducing BitcoinSoV

Introducing BitcoinSoV

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Introducing BitcoinSoV

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Hello Crowdholders,

 

Today we would love to introduce ourselves. We're BitcoinSoV.

 

Currently, we are at an early stage and we can't wait to work more with you to improve our product.

 

You are curious about who we are. So let us tell you about our project:

 

BitcoinSoV is a first mine-able, deflationary, open sourced, decentralized cryptocurrency Hedge to act as a Store of Value against the monetary inflation of fiat currency.

 

BitcoinSov is mined using a simple Keccak256 (Sha3) algorithm. There is No ICO, No Pre-mine, and No Governance. This allows for BSoV to be completely decentralized and fairly distributed. With each transfer of BSoV tokens, 1% of the total transaction is burned forever.

 

A more detailed description of BitcoinSoV can be found in our Medium article here

 

What is your first impression

Go to our website to learn more about us and then leave your comment below.

You can also take a look at our API which displays current contract data and statistics. 

Looking forward to hearing your feedback.

 

Your BitcoinSoV team
 





55 COMMENTS 211 VOTES

Most recent Most verbose

I am very excited to see ERC 918 as a decentralized token.  Putting control back to the individuals and keeping government out of our transactions is what Santoshi had envisioned.  I believe this is a part of that visions.  Thumbs up and let's get mining!!

5 hours ago

Ryan Olesen guru

Have acted as an advisor on multiple blockchain & crypto currency related ICO's!

How are you going to fund monthly development, advertising and marketing and all overhead? You need to take a close look at Energi Crypto  ($NRG) at Energi.world 

They have the largest self funding treasury and their coun is P.O.S. 

They are currently testing Energi 3.0 which is built off of the Ethereum platform but not an ERC-20 token.

I dont think there is any better project out there than Energi when it comes to building what you've described!

2-Stars ☆☆

2 days ago

Newbee Gamer senior

because I am a trusted person and can be a good listener

It seems like nothing is different from other coins (BTC & ETH), it can be mined too, just giving advice anyway, you should make miners for Android use Cloud Mining like ETN, I'm sure it will make this coin move forward.

3 days ago

The idea of this crypto seems very interesting. The advantage of disrupting now is that you can learn from the mistakes of the past, both Bitcoin and Ethereum and the other currencies. It seems that the competitive currency, BitcoinSoV, could arrive. The absence of pre-mines, the developer fees or the initial offer of tokens gives a great consistency to the cryptocurrency. However, everything looks very nice, but where will you get the benefit then?

1 week ago

I'm not sure if I understand. What do you mean where will you get the benefit?

1 week ago

I mean, my question is: where will your profits come from?

1 week ago

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NARUTO RAPHEAL guru

I am a Mechanical Engineer with expertise in power and Mecha-tronics. An Entrepreneur

This is a nice project, but since it is really in its early stage it is quite hard to predict. Because currently in the crypto market anything can happen either good or bad.

But I will say that this site is good and it contains enough information to allow a new user.

but the first page of the website has too little information about the company itself, the creators/developers, the working team, their head office and other such information that an investor will need to see and have.

And what is the function of the eth that user needs to have in their account to be able to mine, is it a kind of collateral or ???

and the API will really plainly say that I don't like the UI and the clour matching makes the sites look very flat.

Nice work that can be done better guys.

1 week ago

Hey Naruto!

Thank you for your comments. We understand that theres a lot of room for improvement, and there should be!

The project is being handled completely in the spare time of the community members. We also do not have a budget and many of the tasks that arise in the community are out-sourced to the community and other users. The website is just over a month and a half old, and we will be making improvements to both our main website, API, and social media pages. We have heard similar feedback before and take it seriously, and we appreciate you taking the time to provide the type of feedback that will help make us better!

1 week ago

Ahmad Fz guru

Crypto Addicted

It is erc20 token. How to mine? is it premine token with erc20 creator? as I know erc20 is premine the mineable is the eth

1 week ago

ERC20 tokens are minable when the ERC918 token specification is applied to the smart contract on ethereums blockchain. This allows an ERC20 token to be mined. The first token to implement the ERC918 spec. was 0xBTC!

1 week ago

I love the fact that there are no Icos done, and that distribution is fair. Its a pretty interesting take to burn 1% of the coins transferred. Im wondering how that will play out

 

A mineable erc20 token is also a fairly new idea.

1 week ago

We are wondering too! We thought that keeping it fair start was the way to go, and the 1% burn will contribute to an interesting factor not seen before in combination with token mining.

1 week ago

This looks Amazing, BSoV will definitely be the talk of Crypto Currencies. The Team needs to however check critically if this is needed Now, at this point

1 week ago

We are trying to figure out a way to increase our marketing power, since the budget is basically funded by the community, but its an obstacle worth climbing!

1 week ago

It all looks good, nice and pretty, but I cannot help but wonder what the catch is. Someone has to pay for the site, the people maintaining the social media, etc. Where is that money coming from?

 

And my next question would be... I think that the era of mining just for coins and creating blockchains just for coins might be over, now or soon... What is the practical aspect behind the project? What is your mission? What do you want to accomplish? And, if at all possible... Can you translate all that in an understandable English, without all the tech terms? 

1 week ago

Karen M guru

When you say 'just for coins' what else do you think should be included?

1 week ago

For example, BAT has a proposal of paying the user for advertising. Ethereum was created for faster transactions, etc. Maybe it is hidden somewhere within the technical stuff, but I honestly couldn't find a unique selling point for this project. What makes it different? Why is it useful? What is the use? Why will people want to use it, instead of what is already available?

1 week ago

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Hi Sandra.

This token has the same use case as BTC, BSV, BCH, along with any other type of Pow, mine-able, store of value token/coin. Our mission/goal is to provide a store of value through the exchange of resources (mining cost, mining power, ability to mine) for the token in which you receive for mining them. The value is completely up to the market and the holders. But as more tokens become available and cryptocurrency as a whole is more widely adopted, our token will be pushed to be used in the same cases as other tokens/coins which are comparable, like Bomb, 0xBTC, and more.

1 week ago

mike dmann guru

I am excited about the future of all crypto currency.

Heck yeah , a mineable erc! Some might think you are late to the game, but this market is just starting, i think you showed up at a great time. I am looking forward for reviews from miners and their interest in mining this coin. Fresh looking site. We Hope you live up to your promises. 

1 week ago

We appreciate the support Mike! We will be improving on all of our sites and other forms of media, so stay tuned!

1 week ago

First impression on the website (https://www.btcsov.com) and the Medium article is very interesting. BitcoinSoV want to try to take advantage of Ethereum and Bitcoin which may look very potential to many crytocurrency holders.
And  the most key points such as  no pre-mine, no developer fees, or initial token offering is also so owesome to give a strong feeling about BitcoinSoV's future success. 
Eventhough very kind mining tutorial, I want to confess it is  too difficult to mine BitcoinSoV due to no technical knowledge.

1 week ago

Hi Changsung,

Thank you for the kind words. We understand the learning curve that comes with learning to mine. If I am being 100% honest and transparent, I am not a programmer or the Dev of this token, but a person who hopped on board about a week after the contract was launched. In addition, this token is the first cryptocurrency I ever mined! If you are feeling uncomfortable with mining, or believe it may be too difficult for you to figure out, I would recommend you join our Telegram community. Theres members literally waiting for the opportunity to help newcomers learn! Also, if you don't have a graphics card to mine, there are other options available for you to mine, along with a mining pool for you to join!

Again, thank you for commenting and hope to see you become a part of the community :)

1 week ago

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1 week ago

thank you for your comment!

1 week ago

Fred Blauer guru

Open for business

My first impression, is that you have an uphill battle to compete with btc, which already has huge network effects, and brand recognition. Just because a coin is scarce doesnt make it valuable. It needs all the other things that bitcoin has. Also, the market is favouring bitcoin over alt coins at 70%, which is an all time high for dominance. Also no governance is not the same as decentralized governance. The project has to be managed in some way. It's going to be very tough to get traction. Good luck

1 week ago

Hi Fred, to address your comments:

We understand that we have an uphill battle in competition with BTC, but this comes with virtually every single token/coin/idea/protocol that arises in the crypto space. We have already worked on differentiating our brand as well. While BTC also holds 70% dominance, as the market cap increases even if BTC maintains an 80% market cap dominance with a Market cap of over 5 trillion dollars (some experts suspect this will be reached within 10 years) that leaves over 1 trillion dollars of market cap in the lucrative and still fresh alt market. The alt market is generally seen as a weak space, but with new innovative people joining and bringing about tokens and other improvements to the space, this market is only beginning its climb to relevance. This is evidenced by the alt run of late 2017/early 2018. But you are definitely right that it will be difficult to separate ourselves from the rest, and we are already working to make our brand stand out and alone from the others.
Also wanted to mention you are right. We have a very loose form of governance that is run by the community and its members. We are still considered decentralized because we do not act as a lone entity and rely on the community and those involved as a collective to move things forward. Some brand new members who had not even owned any BSoV were able to assist in us getting listed on databases like CryptoCompare and CoinGecko! The project is "governed" or "managed" in a way that follows the path of BTC. They did it right the first time, so we will not deviate from their template.

We thank you for your comments!

1 week ago

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1 week ago

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1 week ago

dr dent18 expert

website looks good and so does the project. Lot of similar projects and most of them are scam. Wish u guys the best.

1 week ago

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1 week ago

Ethan Clime guru

CEO of Crowdholding.com

Hey boomer net! Great feedback, but you made the mistake and commented on the wrong task. Fill free to copy and paste it on Dadshed's task here: https://www.crowdholding.com/project/100/task/1227/manchester-pro...

1 week ago

Ethan Clime guru

CEO of Crowdholding.com

Ahhh, I see you posted it recently there. No worries!

1 week ago

Maybe we need to get into the appliance biz :P

1 week ago

stephen black expert

HI. First thoughts, wasn't BurnToken the first token of this kind? It is an interesting concept that looks feasible on paper but in the long run, is this a coin people can become excited about?

Most people will see a coin that kills a part of itself with every use. Most will not be on board with that concept. They want a coin that retains value rather and not give up a portion of it every time they use it.

Education and actual "in use" action of the coin will be what brings people to your concept. 

 

1 week ago

BurnToken was not the first. We were the first to implement the ERC918 token specification in combination with the 1% burn. We see your point with people not willing to take a burn of their token, but after 2 months of trading, we can see this concern does not apply (so far). The burn is an inflationary defense mechanism. When the tokens price develops and the project grows, the burn count will be less and less with each transaction. When mass adoption occurs, we will see burns of 0.1 token, and even less and less as time goes on. Keep in mind BTC has been and will continue to be successful even though an estimated 2+ million tokens are truly unaccounted for (market manipulation continues to be a concern for investors. While this BTC problem is different to our burn, it should not contribute to the driving away of users, and in fact the burn has proved to be the exact opposite. You can see for yourself by reading up on our project and joining our community to see what our 500+ holders think about the burn. Thank you for your time in commenting! I always listen to people presenting a problem or negative aspect of the token. You could be correct, and the only way for us to prepare for these types of issues is by listening to the kind words from users like yourself and exploring solutions/future issues, so I thank you and appreciate you!

1 week ago

De Gem guru

Cryptocurrency enthusiast, avid reader, rapper and SDG advocate.

This is truly something to keep.

1 week ago

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De Gem guru

Cryptocurrency enthusiast, avid reader, rapper and SDG advocate.

Of all the deflationary/self-destructing coins/tokens I've read about, this is the first one that can actually be mined. I know of BOMB, Burn, Ethplode and Nuke but all of them are tokens, had either ICOs/pre-ICOs and had some bounty activities attached to them after they launched. I think this makes BSoV unique but I won't say it gives it an advantage over the others. I have some questions though

  • My first question is why do you have to own ether in order to mine BSoV?
  • Secondly, what happens when the last Bitcoin SoV have been transferred?
  • Do you have any projections for when the coin is going to run out considering there are only approximately 21 million BSoV?
  • Currently, the amount of BSoV that can be mined per block is 50. Is halving set to occur after 4 years just like BTC?
  • Apart from the exchanges listed, where can non-miners access the BSoV wallet? Is metamask the best option in terms of getting a wallet?
  • What does the SoV stand for in BitcoinSoV?

Questions aside, I think your mining tutorial is quite good and you also explain it well on the mining webpage. The only problem is some of the terms are too technical for people like me who haven't mined intensively before. I like the web UI and I think the colours chosen for the website are lovely. All social media handles are working nicely too. Please answer my questions though.

1 week ago

Thanks for the kind words. To answer your above questions:
1. You do not need to own ETH to mine BSoV. It just costs ETH to mine solo (pool mining is free, just the cost of your CPU/GPU and your electric bill). It costs ETH to mine solo for gas fees for the ethereum network,
2. This is a great question. Since it will take 100+ years to mine the entirety of the contract, we don't know! Like BTC, there will be a time where mining will cease, and differently from BTC our token will continue to be burned until it cant any longer. In theory, the token can be broken down into 8 decimals, and it will take millions upon millions of transactions to burn through every since token. Also, in theory, it would be safe to say that all BSoV should be burned, but there is even a more interesting question that I myself have asked in addition to your own. How does BSoV burn to 0 if it only burns 1% of every transaction, especially since you need to send token to burn it? We plan on doing data analysis at some point and getting some projections in place if possible, so it will be an interesting point of study.
3. As mentioned above, there are no projections, but since the token has over 39 Eras (halving of reward events) which will take over 100+ years, it will be physically impossible for the final BSoV to be burned, if it is even possible, until a much later time, and by that point the research and understanding of blockchain and the potential of its technology should help provide a clearer answer.
4. Halving is set to occur once the first era of tokens is mined )10.5 million tokens mined). We are currently just over 2.25 million mined, and with the algorithm difficulty approaching 10 million, it wont be any time soon. I will look into an answer to this question and get back to you. It will be sort of difficult to calculate, as the contracts algo difficulty readjusts itself according to the hashrate/solution times.
5. The best option right now is Metamask. I have looked into getting BSoV available for deposit on other wallets, but our focus as been in other areas, but this will be looked into. Its important to note you can now store ERC20 tokens in your Ledger hard wallet, and we are working to get BSoV added to the tokens listed as available for deposit.
6. The SoV in BitcoinSoV stands for "Store of Value". We believe that the tokens ability to fight inflation, along with its ability to be divided into 8 decimals, the best use case would be considered for a Store of Value against Fiat/trade-able currency, like other PoW tokens.

I hope this answered all of your questions. If you'd like to inquire more please feel free to reach out to me, even if just for a discussion of our project. Thank you so much for asking such well thought out questions! I appreciate you!

1 week ago

De Gem guru

Cryptocurrency enthusiast, avid reader, rapper and SDG advocate.

Thanks for taking the time to answer all my questions. Not many admins do that. I'd very much like to mine BSoV, however, I can't solo mine. My machine isn't good for pool mining either. Can I get somebody from the community to mine for me? Is it advisable?

1 week ago

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I like the concept of deflationary tokens. But no control won't help in my opinion if 1% is burnt and 10% is mined, we will have more coins and that won't help the price. Apart from that, I am impressed.

1 week ago

This is true. As with any token/coin that is minable, there will be a time of price discovery and organic distribution from the miners paying there fees to the users who want to hold it. I call this phase the "honeymoon phase", as people are just learning and getting involved. It's important to note that it took BTC quite a few years before being taken seriously as a digital ledger. We understand your concern and appreciate your comment! Take a look at the contracts code on Etherscan (contract address here 0x26946ada5ecb57f3a1f91605050ce45c482c9eb1) to see in more technical detail how the contract will adjust itself to prevent this from happening past the "honeymoon phase"

Thanks again and feel free to reach out to myself or the BSoV community on telegram for more info.

1 week ago

I am very excited to see ERC 918 as a decentralized token.  Putting control back to the individuals and keeping government out of our transactions is what Santoshi had envisioned.  I believe this is a part of that visions.  Thumbs up and let's get mining!!

1 week ago

Thanks so much for the comment Cindy! We truly believe that keeping tokens like BSoV/BTC/BCH decentralized is imperative to cryptocurrencies ambitions of being used as an international ledger. With no need for the government or middle-men to manipulate these currencies, and the people who own them, the power is back in the peoples hands!

1 week ago

Nuno Caeiro expert

I’m software developer/team leader for 15+ years

I liked your values very much. I try to follow the same ones. Making available to everyone it’s a must and I believe you have a good to achieve it.

1 week ago

Thanks so much for the kind words!

1 week ago

yehia tarek expert

Full stack Blockchain developer Looking for new Challenges

For your website I started by selecting 'start Mining BsoV' and I was nicely created I understanded how I could mine but I think you should add more written tutorials on this section not everyone prefer videos. Exchanges s button was fine and also the etherscan contract button is a really good idea in general your website is awesome as user experience and user interface and of course your project well done!

For the medium article, In the beginning it was so cool then it was hard to understand hope you could make another article for people like me:D and again nice work!

 

1 week ago

Hey Yehia,

We are working on getting better tutorials to mine on the site, in both video and written form. We will work on this! In the meantime, if you are interested in mining feel free to join our telegram community myself or another member can always walk you through on how to make a google cloud instance to mine for free and utilize their $300 complimentary credits they offer to first time users.

1 week ago

yehia tarek expert

Full stack Blockchain developer Looking for new Challenges

Hello Chris, this so interesting I will contact you from telegram

1 week ago

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Zian Fahry

#Cryptocurency #Airdrop #bounty

it seems that this is an idea and a good job, brilliant and very interesting and I am also sure that the BSOV token will have many supporters so it will quickly develop with high marks

1 week ago

We appreciate it. It will certainly take some time, but we truly believe in the long term prospects of this token.

1 week ago

Karen M guru

I first became aware of token burning from a previous task on crowdholding, The Burn Token. I like the concept of burning. now you've combined that with mining capabilities etc.it seems you took the best characteristics and put it all in one. Brilliant! Like you said "first". I'm sure more will follow because this is a great idea.

1 week ago

Yes, we were truly the first. Our contract was launched on 6/17/19 with no Pre-mine, no ICO, and no Developers fees. You will be hard pressed to find a mine-able, deflationary, open sourced, decentralized token which can be used a store of value that share these qualities. We thank you for the kind words!

1 week ago

Karen M guru

You're welcome. I wish you the best! With so many tokens out there, only the strong will survive & thrive.

1 week ago

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Suresh Nagaraj new user

This seems like a really interesting project. The combination of mining and deflation is something that has never been done before. BSOV is one of these tokens that will rapidly increase its value.

1 week ago

Thank you! We aren't concerned with the price for the time being. We are more focused on building a strong foundation for the miners, and integrity on the market by trying to avoid wash trading and other funny business, but this will be out of our control ultimately

1 week ago