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Review on Bitexen by onur bln


There is a bug in their bitexencoin distribution system.

First, let me write what it is for those who are lazy to go to the site and read:

turkish criptocoin exchange. established in ITU Technopolis. so reliable. It has been a few years since it went into operation. They also set up a membership system to increase volume and distribute 50 percent of their profits to those who become members in the first years (now and possibly for the next few years) through this membership system.

Bitexen coin is this; 5 bitexen coins are given to those who are members of the site and bring members. A total of 15 million of these coins will be issued (most of them have already been distributed, lately), and half of the money earned from exchanging all coin types on the site each month, the bitexen coins will be taken back and destroyed. (The amount of coins distributed and collected and destroyed is shared on the site) bitexen coin is now around half a dollar. in other words, 7.5 million dollars in total with its current value.

The bitexen coin was also produced in the ethereum system and it can be seen from there that it is limited to 15 million. So they don't have a chance to say, "Let's add 15 million more" later. reliable in that respect.

bug is that as the bitexen coins that are freely bought and sold on the site are collected and destroyed, the price will rise and towards the end they may have to give half of their earned money to the coin owners (if they keep their promises until the end), such as not being able to reach zero by dividing 1 in half.

Let me explain with an example: Let's say that most of the bitexen coins distributed were taken back and collected. There are 4 people left. (Let's assume they have 10 bitexenes each) the price rose towards the end unless it sold. it will rise unless the last 4 people sell it. One of these 4 people entered 0.000001 bitexen coin sales order for $ 1 million. Coins or someone else bought this 0.0000001 bitexen for $ 1. What is the value of bitexen? 1 million dollars. Will they use the $ 100,000, half of the $ 200,000 they earned that month, to buy back the 0.1 bitexen to destroy? - Which is 0.0000001 bitexen by entering their own orders and can also buy their own last coin holders. Of course, one out of 4 people can sell it cheaper, but it is not difficult to happen recently when there are few people. Buying all of these coins can be much more expensive than they think.

It would also be foolish for them to produce 15 million coins and not buy some of them for themselves. so I assume some of them are in them.

Apart from that, this coin can be very valuable after a year. That's why I became a member. I even think of ripple a little and buy it with money.

They distributed good money in competitions at the time, but I think that train ran away. worth being a member.

Pros & cons

  • indeed, as they say, they deposit money into the account. now it is worth a value of 17.5 TL. each person you bring will give you roughly this number. They do not want you to deposit money in any way.
  • very easy to deposit money but cruelty to withdraw
  • I can't find most of the subcoins in it