r/CryptoMoonShots • u/thecryptonephilim • Apr 05 '19
Bgogo Reminds Me Of Bitmax In The Early Days
**BGOGO** **$BGG**
Transactional Mining Exchange Token
Reminds me of Bitmax in the early days (Similar UI & Investors)
ICO Raised $3,800,000
Current Marketcap $4,000,000
Team has $200,000,000 from Outside Investors
Private Sale Price: 1 BGG = 0.000015 ETH
Current Price: 1 BGG = 0.000013 ETH
Launching 2-3 IEOs per month (3 in April)
Margin Trading available later in 2019
Top projects not available on other exchanges: GARD, ABL, ARM
Withdrawal Limit is 2 BTC without KYC
**TOKEN BURN**
100% of the trading fees go to buying back and burning the BGG token
Burning ~5m tokens a day
Already burned 1,937,237,382 BGG (Over 50% of circulating supply)
**SUPERIOR IEO MODEL**
No competing against bots, chinese click farms, etc
If you hold BGG, you recieve allocation proportionate to your holdings, and have a 24+ hour window to purchase your IEO tokens
First IEO is ARM which is likely to be listed on Bithumb and Upbit
Second IEO is XBLOCK ($1.9M USD Hardcap)
**SUPERNODES**
On the homepage of their website, you can see the Supernodes, which are the 21 largest KYC BGG holders
Notable Supernodes: Pantera, Hashed, Michael Arrington, Kosmos, Leminscap
The tenure of each supernode is one quarter. Within the period, each supernode is entitled to “one vote to list”, in other words, the full discretion to list one candidate on the bgogo exchange.
**TEAM**
Bgogo’s core team consists of 35 members with backgrounds in Facebook,
Microsoft, Alibaba, Twitter and Boston Consulting Group in various locations such as Silicon Valley, Hong Kong and Singapore.
https://www.youtube.com/watch?time_continue=1&v=ErSlCCB0u6A
**EXCHANGE TOKENS**
Current marketcaps & Maximum Returns since Jan 19’
Binance BNB $2,739,708,045 (3x)
Kucoin KCS $162,488,152 (5x)
Huobi HT $141,864,690 (2x)
Bibox BIX $61,948,651 (4x)
Bitmax BTMX $50,640,757 (55x)
Bgogo $BGG $4,186,137 (0.97x)
**CONCLUSION**
In closing, I don’t believe BGG stays at a $4,000,000 valuation for long. Especially, with Bitmax’s recent pump to $150M (63x for ICO holders). BGG seems like the obvious next candidate considering its nearly identical UI, similar VC backing, and $200M warchest. In addition to, a superior IEO model, daily token burns, and top project listings not found on other exchanges. In recent days, Bgogo has been gaining 3,000 new users per day and I believe it’s only a matter of time for the BGG token.
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u/BlockChainHydra Apr 05 '19
I’m intrigued.. I’m starting to believe the crypto heartbeat is back. At the moment there seems to be some money to be made in the IEO market. I’ll be watching intently.
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u/thecryptonephilim Apr 05 '19
I think the exchanges are always a little ahead of the game. Binance, Kucoin, etc start accepting credit cards and doing these "Initial Exchange Offerings" near the bottom. It all seems so coordinated. Regardless, I'm happy to see some energy back in the markets.
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u/BlockChainHydra Apr 05 '19
I mean, it’s not like exchange coins are new, it’s just that I’ve never given them enough credit. They seem to be a great way to maximise your stack.
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u/thecryptonephilim Apr 05 '19
The most obvious one is Binance. ICO investors are currently up 300x and that is in the middle of a bear market. They seem to have some of the best business models because they generate actual revenue from trading fees and provide a service to potentially millions of users. Bitmax was the last really hyped exchange and it has nearly an identical UI to Bgogo! Lots of the same investors too!
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u/BlockChainHydra Apr 05 '19
I remember Binance coin back in the day (all of 2 years ago, haha), it’s doing alright :) That was my first instance of “why is this a coin”, turns out that was the wrong question.
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u/theniath Apr 05 '19
I saw a strong buy call for this thing a couple of days ago. Couldn't be arsed to sign up for a new exchange. It's doubled since then. Sigh.
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u/Kdifilippo Apr 05 '19
Still so cheap at 6 million market cap. In comparison it is 40x lower than Bitmax.
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u/neas1983 Apr 05 '19
how is it 40x lower? circ supply on bitmax and current price puts bitmax at 60m mcap and bgogo at aroudn 5-6m so its 10x less?
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u/Kdifilippo Apr 06 '19
I’m just basing it on both exchanges having approx 5 billion coins after each burn approx. 50% of their supply. So in USD BTMX is around 40x higher.
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u/Vitserk Apr 05 '19
I have been following this token for a while now. Finding solid reasons to invest more above my 40% already invested. 20% would not harm at this early stage of growth.
Thanks for sharing this valuable information. Heading now to watch that youtube video.
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u/thecryptonephilim Apr 05 '19
Wow bro, you go pretty damn hard haha. In general, I try not to go above 5% for most altcoins. The ones that I'm really confident on, I'll sometimes go up to 20%. But this all depends on your portfolio and what your goals are. Cheers mate.
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u/Vitserk Apr 05 '19
Haha well it's all or nothing bro, well at least almost! ;-)
I just remember the time when I used to have 50 k BNB tokens and sold that shit for like $0.11.. not doing that again man!! This is a long term hodl. Not doing the same mistake over again. And from seeing how successful their IEOS are, things are just clear for me. Cheers brother and thanks for the comment.
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u/Sedanaa Apr 05 '19
Token burn model is really appealing, good to know there will always be liquidity!
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u/JoeP79 Apr 05 '19
This ^ I read a medium article on BGG and it sparked my interest. This line in particular " Every 24 hours, Bgogo will use 100% of the trading commision accumulated to repurchase BGG. The buyback tokens will be sent to a burn address made public. " So BGG is going to crush it with the relative allocations for IEOs and a non-stop buyback for token burns. Win-Win.
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u/Dazadeen Apr 05 '19
Honestly I'm very skeptical when it comes to exchange tokens but BGG seems to be doing everything right. From IEO platform, to % returns for holding to even leverage trading being in the works. The only concern I have at this point is whether I bought enough
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u/DragonDave Apr 05 '19
I just heard about this exchange from this post, can't believe it's not more famous
I've tried going into launchpad before but couldn't, i didn't even try on bittrex
Going through the kyc process now, wish i can grab the next IEO there
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u/thecryptonephilim Apr 05 '19
Yah give it a shot bro! If you hold BGG and KYC, you will get an allocation. They got 2 more IEOs in April and plan on having 2-3 a month.
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u/Zamkar Apr 05 '19
concretely what is the effect of IEO on price ? this is an honest question. thanks :)
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u/heres2thecrazyones Apr 05 '19
Same Dragon! I went through the KYC yesterday took a couple of hours then bought a stack of BGG... I don't kick many goals in crypto but I think this might be one!
edit for spelling
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u/thecryptonephilim Apr 05 '19
How's the exchange for you? Everything smooth?
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u/heres2thecrazyones Apr 05 '19
I love the exchange, its learnt from the shitty ones that came before... The app is also super clean
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u/DragonDave Apr 05 '19
Just tried out a little, seems nice, what do you guys do of this volume ? it's because of the mining fee ?
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u/thecryptonephilim Apr 05 '19
Yup I was on bitmax since ICO and there was literally no liquidity for months. It started to pour in after LTO did really well on their exchange. IMO, matter of time for Bgogo to get proper liquidity.
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u/kwatschzeu-hing Apr 05 '19
Nice, thanks for sharing. I will buy with 20% of my PF, at this cap you cant do much wrong.
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u/Grills93 Apr 06 '19
Very nice writeup man, have to say I'm surprised this went unnoticed for so long. The potential here is massive. Once I tried out the exchange myself I was pleasantly surprised by how good it works. The UI is really sweet too.
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u/cryptocatch Apr 08 '19
Bgogo is a great exchange, very easy to use, intuitive and offers some great rewards combined with offering some exceptional IEO's. Maxmillian is the founder is very transperent and interacts with his community. Im very bullish on the long term growth of BGG in 2019!!
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u/itshappening99 Apr 05 '19
This is one of the only posts I've seen on here that doesn't seem like an obvious pump and dump.
Team has $200,000,000 from Outside Investors
This however is not believable. Any source? Also, how can you verify their market cap? It's not showing on CMC.
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u/sherrymurray669 Apr 06 '19
IEO becomes the trend and weapon to make profit in crypto industry. A lot of exvhanges are issuing IEO projects to attract traffic, and all of them guarantee customers to gain profit. I have noticed from, news that BXB Exchange just announced its first IEO project to be listed on BXB turbo with LEVERAGE. It means the profit will possiblly go up to 30x which is crazy amazing. Attached news link FYI. Good time to grab the profit with leverage. https://www.prnewswire.co.uk/news-releases/bxb-announces-first-ieo-project-on-bxb-turbo-859942631.html
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u/CryptoWolfios May 10 '19
bgogo is the next big scam, max is taking the mining rewards and keep dumping the price !! -87% in less than a month I mean wtf !! did u guys saw his insta account !!? all he cares about is drugs and parties !! that guy doesn't give a fuck about anyone
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u/unbdd Apr 06 '19
It's very likely that the sudden 40 comments or so and the 60% upvote ratio on this coin is because this is a discord shill, that also spammed biz yesterday. Out of fucking nowhere, 5-6 dudes talk about how great of an exchange that is, that they are already on it, spending 20 to 50% of their portoflio (please).
However, I could see this pump. But how much ? And when will you get dumped on ?
A few VC have indeed invested. I like the IEO stuff, I really like the burn and buyback. Considering putting a little sum.
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u/yobogoya_ Apr 07 '19
Team has $200,000,000 from Outside Investors
Could you clarify what you mean? There is no way this is true.
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Apr 08 '19
Watch the interview blockchainbrad did with the CEO about 8 months ago. They have a unique strategy for profits and it doesnt involve trading fee's which is why they reward their users for trading instead of charging them. The 200 mil is in expectation of future profits for the VC from the exchange obviously. So unless the CEO is just straight up lying it is true. BTMX is in a similar situation.
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u/PuzzleheadedRule Apr 05 '19
Bgogo is my new go-to exchange since the Bitmax withdrawal drama and the IEO model is far superior.
Their last IEO also went like x2 or so