BanksCoin Goals for 2021:

Since BKC was launched in June 2020 only 46 have been mined with each block representing one BKC reward. Using FPGAs with over 20 Gh/s it takes over two days to mine a block now; before it was a little less than two days. The point I am making here is after mining for a day with two machines I think the only way for miners to want to mine BKC is if there are existing buy orders that are above the cost to mine. This can be done easily with Uniswap! Currently, there are three pools for BKC with ETH, BSOV, and 0xBTC. Assigning a value to the commodity incentivizes people from all over the world to mine and profit via arbitrage. Also having three pools set up would allow traders and bots to arbitrage the pairs increasing exposure. The first pool that will be loaded up will be the ETH/ BKC pool with .1 ETH and 10 BKC. The next pool will be BKC/ BSOV with 10 BKC and 2000 BSOV. Currently, 1 BKC is around $19 in BSOV and at .01 ETH would be $18.5. Setting the max target at 2²⁰⁴ algorithmically leveraged the math from day one. A doubling of the difficulty makes the digest much harder to solve because of the starting value. At 1 BKC per block, there needs to be a reward for miners at the end of the process to make the chain continue. I always think of the movie Field of Dreams, “If you build it they will come.” BKC is fundamentally different than any other mineable token on ETH because of these settings. This will create a commodity that is much scarcer, harder to mine, and theoretically a higher price. I appreciate all the people who are involved in the project and I have met through the process. I am not a web developer and have no experience making websites. To be on Etherscan with a logo and all the updated info of socials, there needs to be a secured website with an email from the domain. This would be down the road in 2021 as another goal. BanksCoin is set up to store value like no other mineable commodity. The low float, low block reward, and high difficulty make it extremely easy to act as a store of value. With the amount of fiat created out of thin air in 2021, I believe people will begin to realize the beauty in the blockchain and proof-of-work cryptocurrencies.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store