BitGesell, the only true digital gold, is proudly listed on major crypto exchange Hotbit Exchange. Ever since the creation of cryptocurrencies, there has been a tough fight on whether any of these assets are digital gold or not. For many die-hard fans, Bitcoin is the one and only. BitGesell proves that this is not the case.
Bitcoin is Broken
Many proponents of the original cryptocurrency will point out that Bitcoin was the first, having a limited supply of 21 million coins and reduction of emissions over multi-year timeframes, giving it the classical characteristics of gold. However, there are some issues that will lead to dethroning of the King:
- Never Meant to be Gold: The vision of Satoshi Nakamoto was very clear. Bitcoin was designed to be a peer to peer cashless electronic money. It may have some parallels to gold, but it is primarily a means of value exchange, not holding.
- Old Age: The advanced age seems to be catching on. The Bitcoin network is starting to get clogged. Whenever there is a surge in its use, unprocessed transactions pile up, sometimes taking several hours to execute. This defeats the purpose of Bitcoin being faster than legacy systems.
- Fee Surges: Time and again, Bitcoin has shown that whenever there is a rise in its use, the network not only gets clogged, but users have to pay an exorbitant fee as miners will look to maximize profits by validating transactions that pay them more.
- Miner Profitability: Halvings and scalability workaround solutions like the Lightning Network cut deep into the fee of miners. With higher costs of running huge mining farms, the profitability is ever decreasing. This means that smaller miners will be forced to either migrate to a more profitable cryptocurrency or shut down altogether. Lower quantity of miners means lower security of the network.
Why BitGesell is Truly Digital Gold
BitGesell is a crypto asset that takes the best of what Bitcoin has to offer, such as the limited supply of 21 million coins that will ever be produced, and then makes changes to the whole ecosystem to give it the exact characteristics of gold:
- Halving Every Year: Bitcoin will take another 120 years before all of it is mined and it can truly claim to be digital gold. BitGesell, with its annual halving of its BGL coin, will take roughly a quarter of that time.
- Hard-Coded Burning: Every transaction fee is programmed to burn 90% of itself, further decreasing the number of coins in circulation and leading to a higher value.
- Miner Profitability: Designed as a means of storing value, not day to day use, BitGesell has a higher-than-normal fee structure. This is to ensure that miners will always have profitable operations and keep the network strong and secure.
- Faster, Efficient: With block sizes that are only 10% of that of Bitcoin, the BitGesell ecosystem is far more efficient and faster.
Claiming a Slice of Digital Gold on Hotbit
BitGesell has successfully listed its BGL token on Hotbit crypto exchange. Now traders who are interested in getting their hands on digital gold can trade for it on the exchange. BGL, the digital gold of the future is already here.
For more information visit the BitGesell website.