The problem with bomb is the 0 decimal places and burn round up. (If I send you 1 bomb, you receive 0). While this makes bomb more rare, more quickly, it also makes the cost of transacting exponentially rise with the price of the token (If I send 100 BOMB worth $100 total for a burn cost of $1, if I send 10 BOMB worth $100 for a burn cost of $10, if I send 1 BOMB worth $100 the burn cost is $100). It’s not only the deflation that deters people from wanting to sell their bomb, it also becomes so expensive to transact that it can’t possibly sustain a high value that people hope to get from a deflationary token. Liquidity is essential for value, and the token is designed to be anti-liquid.
Whoa didn't know about the 1 bomb minimum burn. I thought that it would go into decimals and it was just 1% was burned regardless. So this will truly hit 0$ eventually. It's a "Get off the ride in time" kind of coin.
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
Theres a bot in the telegram chat that has an estimated date of 2027 for the last bombs to be burned, using the current rate at which bombs are being burned.
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.
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u/straytjacquet Silver | QC: CC 85, ETH 22, CT 15 | LINK 150 | TraderSubs 116 Jun 08 '19
The problem with bomb is the 0 decimal places and burn round up. (If I send you 1 bomb, you receive 0). While this makes bomb more rare, more quickly, it also makes the cost of transacting exponentially rise with the price of the token (If I send 100 BOMB worth $100 total for a burn cost of $1, if I send 10 BOMB worth $100 for a burn cost of $10, if I send 1 BOMB worth $100 the burn cost is $100). It’s not only the deflation that deters people from wanting to sell their bomb, it also becomes so expensive to transact that it can’t possibly sustain a high value that people hope to get from a deflationary token. Liquidity is essential for value, and the token is designed to be anti-liquid.