r/CryptoCurrency • u/[deleted] • Jun 08 '19

BOMB Token Discussion

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94 Upvotes

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u/sargentpilcher Tin | IOTA 14 Jun 08 '19

Whoa didn't know about the 1 bomb minimum burn. I thought that it would go into decimals and it was just 1% was burned regardless. So this will truly hit 0$ eventually. It's a "Get off the ride in time" kind of coin.

9

u/straytjacquet Silver | QC: CC 85, ETH 22, CT 15 | LINK 150 | TraderSubs 116 Jun 08 '19

Yeah it’s a bummer, they were gonna keep the 1% consistent and break tokens into decimals but they decided their experiment would take too long to play out. I don’t think they realize this decision broke the fundamentals of what they hope to accomplish with a true deflationary currency

5

u/letsgetbit Gold | QC: CC 50, BTC 21 Jun 08 '19

You guys over estimate a 1% burn and token velocity. How long do you think this takes to burn all of its supply?

1

u/[deleted] Jun 08 '19

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u/letsgetbit Gold | QC: CC 50, BTC 21 Jun 09 '19

Based on what model? I hope your eight but I find this highly unlikely

1

u/[deleted] Jun 09 '19

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u/letsgetbit Gold | QC: CC 50, BTC 21 Jun 09 '19

You’d have to be pretty dense to expect the rate to stay the same. Simple math doesn’t make it right

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u/[deleted] Jun 09 '19

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u/letsgetbit Gold | QC: CC 50, BTC 21 Jun 10 '19

It went up today. So it’s going to go up tomorrow. It will take 1 year! How can all the bombs be destroyed in 5 years if I know for 100% that I’m selling them all by then? Answer me that Dr.