BitcoinSOV is off and running in 2020 and its decentralized community is on fire. One indicator of how decentralized the BSOV team is when you check out their Telegram and see over 600 members there. They’re absent a central authority or CEO of the project and work as a community in the chat to work out ideas and their potential roadmap.
Rounding out Quarter 1 of 2020 the BSOV community and its most committed decentralized team members have achieved a number of accomplishments. While the BSOV community is currently in talks with a number of exchanges, they’ve already been added to Mercatox.
Other than exchange workings, BitcoinSOV has already merged to a new website in 2020 and updated numerous aspects of their project. All of the BitcoinSOV links are available at the end of the article, make sure to check out their progress and what they’re working on for the cryptocurrency and blockchain community that love sound money and innovation.
Mercatox.com Listing & Trading Pairs
BSOV was listed to Mercatox.com (CEX) with two trading pair for starters.
Trading now on Mercatox, BSOV is tradable against Bitcoin [BTC] and Ethereum [ETH].
The entire BSOV project is entirely community funded and the fees to pay for the listing of BitcoinSOV on Mercatox were donated to the project by community members that believe in its ethos. Everything about the project is detailed on their site and they pride themselves in transparency in all aspects and developments.
The BitcoinSOV ethos is to provide people around the world with a decentralized store of value that can’t be devalued by central banks and the whims of state power wielders. BSOV is an ERC-20 token that runs atop of the Ethereum blockchain. The BitcoinSOV project launched out of the desire for a proper store of value outside of pre-existing paradigms. The community met online as much of the blockchain world’s community has done.
BSOV is built upon the ERC918 smart contract that allows for mineable work through computers working to solve computational problems coded into the blockchain’s protocol. BSOV is mineable with a standard run of the mill graphics card to make mining available to everyone. BSOV proponents can also mine with field programmable gate array [FPGA]. Since launch last June 2019, just over 17% of the total supply has been mined.
Just like Satoshi Nakamoto’s original blockchain, Bitcoin [BTC], BitcoinSOV has its own genesis block and is not a fork of any other project. BSOV is divisible up to 8 decimal places and highly fungible. The team therefore believes its future is vast to be utilized as a medium of exchange.
BSOV’s total supply is and will continue to be less than BTC’s total supply since the BitcoinSOV protocol has built in token burns. 1% of each BSOV transaction is burnt and eliminated from the total supply forever.
Currently, there are 924 BitcoinSOV holders in the ecosystem and there’ve been 32,862 transfers or transactions on the blockchain.
The current price is just over $.01 and the ATH is $.186 on 14 October, 2019.
SoVCube is a twist on the deflationary model that encourages BitcoinSOV holders to lockup their tokens and take even more out of the circulating supply for an agreed upon period. With SoVCube, essentially holders and members of this program are showing their belief in the future of the project and prospect of its success long term. Currently, 28.21% of the total supply that’s been mined are time-locked in the SoVCube program.
A Non-Violent Deflationary Movement
To really grasp how passionate the BSOV community is about sound money and being a peaceful revolutionary movement, read their handbook, BSOV’s Burning Handbook for Deflationists. Their handbook entails their mindset and outlook on how to achieve proper money and do it in a non-violent way that brings people along peacefully like a magnet.
The aims of the project are listed on the site as freedom from inflation. Financial independence and freedom from government-made regulation. They also hope to achieve monetary alternatives which are deflationary and the complete opposite of the inflationary methods of the world’s central banks. They also list usage of sound money and decentralized cryptocurrencies that will maintain their value over time as goals.
On a broader scope, they hope to achieve a mainstream debate about cryptocurrencies and shift the debate to a better understanding of projects that have real value long term. BSOV also hopes to bring along more family members to this deflationary project. They want everyone to prosper and avoid debasement of their savings while embracing BSOV as a mainstream medium of exchange and store of value to realize this goal.
Over the coming months they’ve a lot planned, please hit subscribe and follow the progress of this innovative project with a truly passionate community working for a better tomorrow!
BSOV’s Burning Handbook for Deflationists