Why Billionaire Token Should Have Your Attention...
Active Development
The team can be seen on the website They have been running a test version of the raffle game on the Kovan Testnet, getting ready in a few days for it to go live on the Ethereum mainnet. The plan is to migrate to the EOS when it's ready, as EOS will be better able to handle what XBL is trying to do.
You can go through the ANN on bitcointalk and see that each step in the roadmap is getting hit. Development updates are frequently given to the community and investors. They hope to beat many of the other gambling type coins such as Edgeless, Ether Roll, EthBet to market with a dice game. The kicker is, you can play against other people . . not just automated rolling like we see in places such as Bitsler or Burst Casino. The lead developer is quite active on the Telegram, Slack, and ANN page. Often times, ICO's will conclude and investors literally have to scream bloody murder to get the team to interact with the community. This is not the case with XBL.
Total Number of Tokens
Currently, there are 3,315,367 XBL tokens
Current price is 1,700 satoshis and had all time high over 10,000 satoshis
Games will slowly burn the total supply down even further. Compare the number of coins of XBL, to other coins that offer similar games, or goals for investors.
Edgeless has a circulating supply of 82,046,288 EDG and is trading around 8,000 satoshis
EtherRoll has a circulating supply of 7,001,623 DICE and is trading around 26,000 satoshis
Decent.BET has a circulating supply of 59,640,785 DBET and is trading at 1,400 satoshis
Granted, those coins aren't doing exactly what XBL is, but they would be close competitors.
The Raffle and Burner
This is the game that is set to release in a few days. This is the first game laid out in the whitepaper
Every week, users can send 10 XBL to an Ethereum Smart Contract address – this is the equivalent of buying one ticket, more tickets mean a better chance to win. Users can buy an unlimited number of tickets to increase their chances. At the end of the week, the Smart Contract will choose three winners at random. First place will get 40% of the tokens that were raised during that week,second place gets 20% and third place gets 10%. From the remaining 30% of the tokens: 10% are burned– as an offering to the market gods. The other 20% are sent to another Smart Contract Address that works like a twisted faucet – rewarding people for burning their own coins.
Players can use MetaMask to submit tickets. A GUI is also set to go when the game goes live.
What is the Burner and how does it work?
Another key ingredient to the deflationary mechanism that is embedded into Billionaire Token is the Decentralized Burner Smart Contract. The Burner receives 20% of the tokens that are sent to the weekly raffle. Anyone will be able to register coins to be destroyed by the Burner, and they will receive their coins back plus a little bonus – provided that the Burner has enough coins for this.
The dev team is working out a way to have a GUI for this as well. A lot of people just do not know how to call functions on the ETH network. This will slowly lessen the supply as well. But what happens when the supply keeps getting lower and lower? The dev team has said that they can alter the percentage of coins burned, or change the number of XBL is costs to play specific games. In other words, if price should happen to go to roughly 1 dollar a token, the game entry fee of 20 XBL for the raffle could be decreased to 10. That is just an example, but hopefully you get the idea.
What's Next?
A dice game is already being developed. It is the next game to be released. It differs because it is a head to head game with another player. And of course, there will be a little bit of burning coins involved.
XBL offers a unique idea on how a deflationary mechanism would work. Quite the opposite of PoS coins that rewards you for staking to the network, XBL rewards you with when you decrease the total number of coins. The economics of it are something to think about.
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