FAQ

Bitsten tokens use erc20 in the ethereum network.

What is Bitsten Token (BST)?
BST is a token utility used to change transaction fees and listing fees on bitsten exchange.
Why was BST created?
In recent years various kinds of token utilities have emerged that are used on certain platforms, products or companies, but the price of these tokens is stagnant and does not move up, bitsten created a BST with a different concept from common token utilities. The main problem is that the total supply is too much, and its use only rotates between user to user, with a fixed total user, the price of the token will not rise.
Why choose BST?
BST comes with a simple concept but has tremendous potential.

  • BST only has a very small supply, initially only 20,000,000 BST were created.
  • BITSTEN company profits are used to burn BST every day.
  • Every day the amount of BST supply is always decreasing.
  • When this article was made, the total outstanding BST was 12,300,000 BST, the amount was always decreasing every day.
  • All BST have been circulating in the market, BITSTEN company does not keep BST stock.
Will the price of BST always go up?
In a simple concept, the price of BST will always go up, but it also depends on the number of BST holders throughout the world, the more people who have a BST the potential for the increase will be even greater. As the BITSTEN company grows and gains a large profit, the potential for an increase in BST will be even greater.
What is the concept of BST burn in more detail?
  • BST Initially there were 20,000,000 BST and all of them were circulating in the market, meaning that BITSTEN did not have available supplies.
  • Every day BITSTEN buys BST at the LOWEST SELL price on the market to burn and reduce total supply.
  • BITSTEN will use 100% net profit to buy BST in the market and burn it.
  • So that the lowest SELL ORDER will gradually run out and prices will gradually rise.
Illustration of BST purchase and burn
As an example, we illustrate BITSTEN has a net income of 1 Day, $ 1,000

EXAMPLE 1
Example of the lowest SELL price in the market is

100,000 BST at the price of $ 0.009 = $ 900
100,000 BST at the price of $ 0.008 = $ 800
100,000 BST at the price of $ 0.007 = $ 700
100,000 BST at the price of $ 0.006 = $ 600
100,000 BST at the price of $ 0.005 = $ 500

BITSTEN will spend $ 1,000 to buy 183,000 BST in the market and then burn it, so the market conditions will be

100,000 BST at the price of $ 0.009 = $ 900
100,000 BST at the price of $ 0.008 = $ 800
100,000 BST at the price of $ 0.007 = $ 700
 16,666 BST at the price of $ 0.006 = $ 100
0 BST at the price of $ 0.005

As a result, prices will move up because the lowest SELL is up.


EXAMPLE 2
Example of the lowest SELL price in the market is

10,000 BST at the price of $ 0.09 = $ 900
10,000 BST at the price of $ 0.08 = $ 800
10,000 BST at the price of $ 0.07 = $ 700
10,000 BST at the price of $ 0.06 = $ 600
10,000 BST at the price of $ 0.05 = $ 500

BITSTEN will spend $ 1,000 to buy 18,300 BST in the market and then burn it, so that market conditions will become

10,000 BST at the price of $ 0.09 = $ 900
10,000 BST at the price of $ 0.08 = $ 800
10,000 BST at the price of $ 0.07 = $ 700
 1,666 BST at the price of $ 0.06 = $ 100
0 BST at the price of $ 0.05

As a result, prices will move up because the lowest SELL is up.


At any price, BITSTEN will always buy BST at the lowest price, then remove it from the total supply.
Will the total supply of BST ZERO ?
The answer YES will 0 if everyone puts up a sale at a cheap price.
but
It seems like that won't happen, because people will sell at any price BITSTEN will always buy at the lowest SELL price.

This means that the higher the BST price, the total burn will also decrease, for example if the daily burn is worth $ 1,000

Price BST $ 0.001 daily Burn = 1,000,000 BST
Price BST $ 0.01 daily Burn = 100,000 BST
Price BST $ 0.1 daily Burn = 10,000 BST
Price BST $ 1 daily Burn = 1,000 BST
Price BST $ 10 daily Burn = 100 BST
Price BST $ 100 daily Burn = 10 BST
Price BST $ 1,000 daily Burn = 1 BST
etc.

What if all the BST HOLDERS were compact to sell the BST at a price of $ 1,000 / BST?
BITSTEN will continue to buy BST to burn every day, with the illustration above (burn allocation of $ 1,000 / day)
BITSTEN will buy 1 BST worth $ 1,000 to burn.

When BITSTEN didn't get a net profit, where did the daily BST burn come from?
As long as Bitsten doesn't make a profit, BITSTEN will still burn, but with an amount that is limited to our internal capabilities.