BreakoutCoin Raises 851 BTC in Public Crowdsale, Begins Trading on Bittrex

BreakoutCoin Raises 851 BTC in Public Crowdsale, Begins Trading on Bittrex

July 8 BreakoutCoin announced the completion of its public crowdsale, which raised about $557,000. A total of 4,357,800 BRK were distributed, with a further 2,269,694 burned and permanently removed from the market. With the crowdsale complete, Breakout Coin (BRK) is now trading on Bittrex. Randy Kim, co-founder of Breakout, stated: “We are very pleased with the results of this sale, and with the support that we received from both the cryptocurrency and gaming communities.” Another crowdfund launched. Also contained in the announcement is that a second crowdfund was launched at 5:00 pm PDT....


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Quotes

Bitcoin is an interesting idea, but I think their mechanism for regulating the currency supply is fundamentally flawed. Because the Bitcoin supply doesn't increase in proportion to the growth or use of Bitcoins, there is a deflationary effect, creating an incentive for people to hoard Bitcoins rather than spend them. Gresham's Law in economics suggests that for a complementary currency to be successful, it needs to have an inflationary effect that exceeds inflation in the national currency.

Alex Zorach, Community Currency Developer, Founder of Merit Exchange LLC