Bitgesell Burning Day


BITGESELL BURNING DAY

Bitgesell Burning Day (BBD) is an initiative created in 2024 by the Bitgesell Community on Telegram. The goal is to promote the sale, use and adoption of Bitgesell cryptocurrency as a store of value and actively increase the scarcity of BGL coins, thereby enhancing their value over time.

BBD is scheduled to take place on the second weekend of October each year, lasting two days from 00:00 on Saturday to 23:59:59 on Sunday. This provides ample time for all holders to participate by burning BGL coins or satoshis.

Each Bitgesell can be divided into 100 million satoshis and the current minimum transaction fee is 0.00001 BGL, equivalent to 1000 satoshis!

The BBD event involves burning Bitgesell coins through two methods:

a) Increasing the fee in a simple transaction using the Bitgesell wallet, where 90% of this fee is automatically burned;

b) Sending coins or satoshis directly to the Bitgesell Null Address wallet;

Probably, in future, wBGL (Wrapped Bitgesell) Null Address wallet might be created in collaboration with developers, allowing for the corresponding burn of Bitgesell coins within the Blockchain through the wBGL token.

Just before the initiative, two snapshots will be taken of the value of the Coins Burned on the blockchain (red numbers) and the value of coins burned in the official Null Address. This will allow for the total number of coins burned during the event to be calculated at the end.

The burning of Bitgesell coins is integrated into its code through the burning of 90% of transaction fees. BBD aims to send a clear message to future investors that the supply of BGL coins will continue to shrink year after year, not only through the annual halving but also through integrated burns or voluntary burns by the community, making Bitgesell one of the most deflationary assets on the market.

Bitgesell is a standout and disruptive cryptocurrency, without a doubt, due to its more effective deflationary mechanisms compared to Bitcoin. Additionally, it has a small but dedicated community committed to contributing significantly to its primary goal: being recognized as the premier store of value.


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