Boats and Bitches (BNB*)

Mkt. Cap.
$ 0
Vol. 24h
$ 0
Open 24h
$ 0,00
Low/High 24h
$ 0,00 - $ 0,00
Since
03/06/2015
Circulating Supply
0
Total Supply
696 969
Hash Algorithm
X11
Generation
PoS

Boats and Bitches (BNB) Coin: What Is It?

A couple of years ago, a crowdfunding project Boats and Bitches saw the world. The users of the largest cryptocurrency forum BitcoinTalk were the witnesses of a message left by BNB developers, where they have encouraged investors to take part in an intriguing and unusual affair.

The idea of the project was ironic and striking: developers have created a coin with a funny name Boats and Bitches to gather some money and have a party on the boat. The creators themselves claimed that they are not going to fool anyone by creating “another one scum cryptocurrency”.  Instead, they will pay for a boat, escort girls, and alcohol with the money investors will send and share some photos from the party with the former-members. A few posts later, the largest investors were invited to the party as members.

How does it work?

There is nothing that is really worth of users’ attention when it comes to Boats and Bitches coin. This is not an investment option, but a funny episode in the world of cryptocurrency that took place once and evoked a resonance within the community. However, it should be mentioned that the project authors gathered a significant sum of money after locating their announcement on the web.

The currency uses PoS algorithm based on the X11 system. PoS algorithm is different from PoW, since it doesn’t require mining and therefore – highly-priced equipment. Instead, PoS focuses on the amount of coins users already have and rewards those who possess a bigger amount. The main advantage of PoS comparing to PoW is an opportunity for users to receive coins without spending too much for hardware and electricity. The main disadvantage is that the coins are distributed to those users, who already have a significant sum, therefore the rich ones become richer, while those who have less doesn’t get anything.

What are the main features of Boats and Bitches (BNB)?

While the Boats and Bitches project was launched as humorous one, BNB coin is related to Binance exchange, one of the largest cryptocurrency platforms of today’s crypto-world. This platform uses BNB is an inner currency to allow users decrease the sum they have to spend to make transactions within Binance. The discount is provided to those who use BNB and lasts for 5 years, gradually decreasing over time. The stability of the coin is reassured by platform’s attempts to destroy the inactive assets regularly. This way, the price for the coins-in-use grows a couple of times. BNB coin is backed-up by Binance’s reputation, however, this makes investors dependent on a certain exchange platform. Those who are used to work with this resource only, will surely appreciate the coin and an opportunity to decrease transaction fees.