BanksCoin Update 4/10/21:

BanksCoin was launched on 6/11/2020 and since then only 46 BKC have been mined. In June 2020, ETH gas fees were not even close to the levels they are now and many mineable tokens have run into the issue of the block reward value being smaller than the transaction cost on the ETH Mainnet. Not equating in any costs of electricity for the computers, just the transaction cost brings the mining to a halt. I have been following the space of mineable tokens for almost two years now and the value in the open market has many factors but when supply is constrained is creates an asset that has little downward pressure. BSOV had a hyper-inflationary period from June 2019- July 2020 creating millions of units in just a little over a year. When a stock or crypto has this much supply being generated, with a lot of arbitrage gain potential, the value is extracted from the system via mining and the future block reward. For example, if ETH gas goes down to 10 for a month, people will start mining BSOV and 0xBTC for a huge profit with each block reward. Then the rewards will be instantly sold into the open market putting more downward pressure on the asset. I have watched this happen with BSOV many times, the moment the block reward is profitable people will start mining for arbitrage gains. When millions of units are created of any currency or stock, the price has a harder and harder time to rise with the dilution. BanksCoin has 46 total mined in around 10 months. Mining is not easy with BanksCoin because the settings for the max target are unlike any crypto made in the past. In the month of April, BanksCoin has been pinned to BSOV and ETH in Uniswap. 420 BSOV/ 1 BKC ($82.32) and .04 ETH/ 1 BKC ($86.16). In the next couple of months, the goals are to mine more BanksCoin, pin more value to it thus increasing the decentralized value of the commodity. Pools are being set up as we speak and tested for public use. The block reward is substantially higher than the transaction cost for the mint function so hopefully more miners can be onboarded and able to cover their electrical costs with the profits by selling in the open market.