The origin of BOOM is simple, once users transfer BOOM to others, 1% of the total transfer amount is automatically destroyed at the same time. The initial total supply of BOOM is 1 billion. The supply will decrease due to transactions, and no new BOOM will be issued then.
Does this mean that the receiver gets the amount he received with a cut already of 1% of the total amount?
That's definitely what he means and I'm surprised what the project is thinking before implementing such protocol which will reduce the quantity of token send to receiver instead of burning token from the total supply.
I don't see the sense of having that kind of protocol and passing the burden and consensus of that token to the users. Do the developers think that people like this kind of system, I don't think that they would love to pay that much for burning those tokens.
They should have thought of it that burden shouldn't be passed on the receivers, it's better if they have been burning the fees if ever there is a fee for each transaction.
Sir if you remember nobody likes the idea of bitcoin in 2009. It took quite a while before people start accepting this bitcoin.
Give some time to deflationary tokens like BOOM, I am sure people will like this idea.
The fact that there are so many scam projects used the deflationary idea and i rarely seen a project that based on deflationary became a successful project. It has been a year sincet the appearance of deflationary tokens
@crypto_geek55, your deflationary token can be compare with what happened to bitcoin then (year 2009) cause people dont like the idea of bitcoin then because they are not properly aware of it theory and i was once among those kind of people but, that change after i study and read the concept BTC.
The reason why people don't take the token concept serious is because we already have more than enough tokens/coins with different protocol why would an investor choose a token which 1 of his token will be burn whenever he received transactions. Mind you, 95% of every investors are after profit not lost.