Bitgert $BRISE Safe or Safemoonish?
In 2021 they were called BitRise and maybe some of you remember and already caught a glimpse of this high riser back then?
But many things changed since those early days BitRise turned into Bitgert and Bitgert is rapidly becoming the new Solana killer.
Why?
Because the Bitgert blockchain has a zero-cost gas fee and is also the fastest chain right now.
Bitgert blockchain went live mid-Feb 2022 and is a revolution chain in that it is a zero-cost gas fee and is also the fastest chain right now after surpassing Solana to hit the 100k TPS.
In addition, the Bitgert exchange is live in the BETA stage. The Biggert Exchange is the first exchange to launch on the Bitgert Chain and supports Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dash (DASH), and Dogecoin (DOGE) trading.
The interesting thing about the Bitgert Exchange is that it will be the first crypto exchange to offer its users a zero-trading fee environment.
As always I was the Elon to the party and only started buying Bitgert by the end of February, but still, I made an okay ROI on my buys.
What's the impact on the BRISE price?
The data from Cointelegraph Markets Pro and CoinGecko shows that between the low of $0.000000157 on Feb. 8, BRISE surged 1,124% to a daily high at $0.00000184 on March 7 when the Bitgert Exchange Beta Stage went live. Its 24-hour trading volume spiked by 1,050%.
Right now Bitgert is listed on Gate.io, Coin98 Exchange, BitMart, Belon.io, Hoo.com, BitForex and HotBit. And even though the price is officially trading at $0.00000126 and its ATH was at $0.00000184. I noticed that the price on exchanges was much higher.
I was able to sell at $0.00000222 on Bitmart last weekend and have been buying my stack back this week at around $0.00000126 because even though I was late, I might still be early on this one.
As I know I am still a baby doing my baby bit of research there are probably many smarter peeps out there that know much more, so leave your thoughts on this project in the chat.
Especially on those tokenomics:
Because I don´t fully get it, BRISE is said to have almost no gas fees.
$BRISE Token will be used as peer-to-peer (P2P) service for payment systems using our dApp wallet in the local currency with zero transaction fees, faster & secure transactions, whereby two individuals interact directly with each other, without intermediation by a third party. Instead, the buyer and the seller transact directly with each other via the P2P service.
But then the tokenomics talk about this inbuild buyback feature and a total of 12% transaction fees:
Total 12% Transaction Fee ( 5% BuyBack, 3% Marketing, 4% BUSD Distribution to Stakers )
The buyback is very interesting as it will create scarcity_
$BRISE collects a 5% Buyback tax on each transaction, which is stored inside the contract. Whenever a sell occurs, a fraction of the buyback amount is used to automatically purchase tokens from the liquidity pool. Those tokens are immediately burned after purchase.
But how does this work, it´s not coming from the transaction fees in the p2p payment. Is this is only related to buying from the liquidity pools and not when the token is used in P2P payments?
That would make sense, right? But not with what they are saying next:
Investors can be relentlessly hesitant and often get spooked by a bearish market. Because of the automatic buyback, investors will never see more than 2 sells in a row (98% of the time).
Two sells in a row sound like that is on the whole chain, and it´s correct if after each sell a buyback is initiated. But how is that buyback from the liquidity pool set up? Is it part of the tokens contract and does it mean that Bitgert is taking that out of the total liquidity without transferring the fees to the people using the blockchain?
So if you can explain this part to me, that would be so nice because I did my DYOR but I am not finding a satisfying answer.
Bottom Line
I made my ROI so anything I currently have invested in this project is profit. But with all the hype going on there will probably be many aping into this project and I would like to avoid a second Safemoon situation. So let me know your thoughts on this project and also maybe clarify the buyback mystery in the process.
Thanks for the read, hit that like button and have a lovely rest of your day.
Post Scriptum:
Platforms where I Earn Crypto for my Content (Affiliate Links):
Torum - https://www.torum.com/signup?referral_code=bitcoinbaby
NoiseCash - https://noise.cash/u/BitcoinBaby
ReadCash - https://read.cash/r/BitcoinBaby
Hive - https://hiveonboard.com/?ref=whywhy
Peaked - https://peakd.com/register?ref=whywhy
Publish0x - https://www.publish0x.com?a=l9avg4xnbG
Exchanges where I trade Crypto (Affiliate Links):
BitVavo Exchange- European. Higher trading fees (0.25 %) & Great Customer Service - https://bitvavo.com/?a=C21A94C2FD
Kucoin Exchange - Hong Kong. Okay, trading fees (0.1 %) & Contains a lot of low cap gems. Customer Service takes time - https://www.kucoin.com/ucenter/signup?rcode=rJ821BX&lang=en_US&utm_source=friendInvite
Bitmart - Global (USA allowed) Low, trading fees if you use BMX (0.025 %) & Contains a wide variety of coins - https://www.bitmart.com/en?r=7XFCVy
Places where I do Liquidity Mining and Staking
Cake DeFi. Here you have to invest $50 dollar and you get 30 dollars for free. You can withdraw your 50 dollars at any time or use them for Liquidity Mining, Staking, or lending to earn more DFI rewards. The 30 dollars is locked for 6 months but earning you interest for the 6 months. https://app.cakedefi.com/?ref=197670
Celsius. Celsius Network provides a platform of curated services with fair interest, zero fees, and lightning-quick transactions. You can store your crypto and get rewards or lend crypto with low fees. Celsius has been around since 2017 and stated to always have the best interest of the community in mind. My experience so far has been good although I will not stake all my crypto with them...NYKNYC
https://celsiusnetwork.app.link/1046126043
Disclaimer
I do not have any connection with any company I am writing about. I am not being paid to write this article.
If you like my content, please hit like and subscribe. Because more Bitcoin baby Mistakes are coming......
Feel free to provide tips, comments, feedback, anything.....?
Remember that sharing will improve life in general!
Direct Donations are always welcome to keep me going:
BTC: bc1qdsrg7qaefxvel6hn6mjemjd4c8jjs40sasyvkp
ETH: 0x4216fEC23Ae7A7d9c46143Ce56C3e8f301F9868c
Bitcoincash:qqesav8kuwcrhl4y8qs9zfjg90cf8dnlkyz43u9w6u
