Re: [ANN] Spells of Genesis - Innovating the Game Economy with BitCrystals (BCY)

Been seeing some fud that the BCY token has no purpose as people will just use BTC.

Can some one clear this up and give a reason that the BCY token will have Value?

EDS burns BCY not Bitcoin, so there will be a constantly smaller supply of BCY. Also, as long as you buy cards primarily with BCY then there will always need to be BCY held buy players. I am sure there will be ways to use BTC to buy cards, but BCY will likely be the primary currency for EDS cards in the near future.

You could make the same argument about every crypto out there, if I can ultimately just hold bitcoin and have third party service switch to another currency for me when I need it, then what is the purpose of anything but Bitcoin... there are several billion dollars that say other coins will have value even in the face of a dominant crypto currency.

Thanks for the input DJ, My bad for listening to fud.

I wasn't sure about EDS promise to burn tokens on cards purchased. Am I right in assuming it's 50% of each cards value that gets burnt?

They burn BCY with card purchases. I think it is 50% but their might be some subtleties, for example, it might be 50% after paying Apple their fee. So not sure exactly on what will get burned with a $10 purchase. I also don't know when the burn happens, will it happen monthly, daily, real time... It is much better for the market if the burn happens real time. EDS says "secondary market" when it says it will buy them, if this happens daily or hourly, that is HUGE. So a number of unanswered questions on the burn once SOG goes live.