# $BEL Overview 🍂 By [derek](https://paragraph.com/@derekfoster) · 2023-12-21 --- What is $BEL ------------ “Bells” or $BEL, a revived cryptocurrency, debuted on the [bitcointalk.org forum](https://bitcointalk.org/index.php?topic=349695.0) in November 28th, 2013 by user “billym2k” ([@BillyM2k](https://twitter.com/BillyM2k)). Drawing inspiration from the “Animal Crossing” in-game currency “Bells” and was created only a week prior to the “brother coin” $DOGE (December 6th, 2013). $BEL utilizes the Scrypt algorithm for mining and introduces a unique twist by offering random block rewards, “echoing” the in-game mechanic where players collect various items for Bells. In this crypto variant of the currency, mining replaces the in-game activities, but the randomness of rewards remains, adding an engaging aspect to the mining process. **_\*Remember, this is NOT the original $BEL chain from 2013\*_** > **M2k:** > > _“In the Animal Crossing universe, Bells are the primary form of currency. To gather them, you must collect fruits, catch bugs, fish, dig for fossils, etc. and trade those items for Bells. In the crypto world, we just mine for them!”_ > > _“The Bell amount you get from the various items is quite random, so Bells as a cryptocurrency has random rewards in various denominations as well.”_ ![Desc. @\_BellsCoin](https://storage.googleapis.com/papyrus_images/e278b994adda06b7b82768f26ab55352f5ce0274a6a051d30cbec20ce3ecbef4.jpg) Desc. @\\\_BellsCoin Block Reward Info ----------------- “Bells” has a maximum supply of 500,000,000 coins with a block time of 60 seconds and difficulty retargeting every 4 hours. $BEL offers a unique block reward structure. Initially for the first 90 days, rewards vary from 50-10,000 $BEL’s, with decreasing probabilities for higher rewards. In the second 90 days, the maximum reward drops to 5,000 $BEL’s. The following 180 days see a further reduction, with a maximum of 500 $BELs. After 365 days (Dec. - Jan. 2025), a constant reward of 2 $BEL’s per block continues until reaching the total cap of 500,000,000 $BELs, projected to take 420 years to complete circulation. ~1,051,200 $BEL will be mined per year after the halving(s) occur. This structure creates an engaging experience and gives incentive for miners to support the network and a fun idea for developers to work with. > ~1st 90 Days: Approximately 36,260,200 $BEL mined (~Late Feb. or ~Early March) > > > ~2nd 90 Days: Approximately 18,144,000 $BEL mined (~Late May or ~Early June 2024) > > > ~180 Days After: Approximately 4,121,280 $BEL mined (Late Dec. or Early Jan. 2025) > > > After ~365 Days passed (Dec. - Jan. 2025): 2 $BEL per block until 500,000,000 $BEL > > > (circa. 2443-2444, 420 years) > > > After a year of multiple block halvings, ~1,051,200 $BEL will be mined per year moving foward. (~2025) > > Current Supply: ~5,730,000 $BEL as of 12/20/23 10:16PM MST > Market Cap: ~$14,880,000 > 24hr Volume: ~$723,440 > ![Block Reward Info. @](https://storage.googleapis.com/papyrus_images/27b24e0dc992ec710ef7126da0fad5b369a236e51bb5f12c526b4b60da9bae6d.jpg) Block Reward Info. @ Where to Buy/Sell, Chart & Block Explorer ----------------------------------------- As of now, [nonkyc.io](https://nonkyc.io/markets) and [xeggex.com](https://xeggex.com/markets) are the only two listing and providing live charts for $BEL against trading pairs $USDT and $DOGE. Efforts from the community are underway to get $BEL listed on multiple new exchanges and charting platforms. Recently [CoinGecko](https://www.coingecko.com/en/coins/bellscoin) has included $BEL and applications for $BEL to join CoinMarketCap are underway. For blockchain “monitoring”, there are two block explorers available: [belscan.io](https://belscan.io/) and [bells.quark.blue](https://bells.quark.blue/), offering users options for tracking and analyzing transactions on the $BEL network. ![$BEL/$USDT @ 12/20/23 9:33PM MST](https://storage.googleapis.com/papyrus_images/250454d3d168f88919e4a09dc390c5cba503b72dfbfbca1d0e581c708abff929.png) $BEL/$USDT @ 12/20/23 9:33PM MST How to Mine $BEL (Goldshell ASICs) ---------------------------------- ### Download a Wallet [BELLs Wallet](https://github.com/lukewrightmain/bells-qt-win-v1.0/releases/tag/bells-qt-win-1.0) , Tutorial [here](https://twitter.com/adamamcbride/status/1734970494364139842?t=ndv_gdaEs4CsFe1qRpNJ-w&s=19). [Nintondo](https://github.com/Nintondo/extension/releases/tag/0.0.4) , Open Source [here](https://github.com/Nintondo/extension). It is recommended to set up a wallet prior to mining $BEL. If either of these options seem overwhelming to set up, you have the option to wait for the [@FxWallet](https://twitter.com/FxWallet) team to include $BEL in their wallet, anticipated to release around December 25th. **_REMINDER:_**\* Using exchanges such as [nonkyc.io](https://nonkyc.io/markets) & [xeggex.com](https://xeggex.com/markets) as “main” wallets for mining is not recommended due to minimum deposit requirements.\* ### Open your ASIC To open your ASIC, look up the IP associated with the ASIC on your network. This can usually be found in your router under the setting ‘Attached Devices’ or ‘Devices’. ![Mini-Doge (July, 2021)](https://storage.googleapis.com/papyrus_images/98fb81ae49eb98f6c726fcaeb4dfa5a90648e6c8a4598c7457977d22fe91c3cf.png) Mini-Doge (July, 2021) Initially, select 'unlock' on your miner, located at the top right corner. Following this, a login prompt will appear. After logging in, click on ‘Miner’ found on the left side of the interface. ### Configure Your ASIC You will then see a screen displaying your Pool Settings, Miner, and Algorithm Settings. In the ‘Pool Settings’ section, locate and click the ‘add’ button on the right side. This action will trigger a pop-up to appear. ![Example rewritten below](https://storage.googleapis.com/papyrus_images/a20d458bccdeeb2f3a6bf9b177a50a56ad0e0716d5bb312903a8378022248b6b.png) Example rewritten below Select from the provided list of pools below (or any other pool of your preference) and locate the ‘URL’ related to your chosen mining pool. Copy and paste this URL into the designated field. Next, under ‘Miner Name’, input your $BEL wallet address. Should you wish to assign a name or tag to your miner, simply add a period (".") after your wallet address and assign any desired name. Following the ‘Miner Name’ step, set a password for your new pool configuration. Once all these steps are completed, click ‘apply’ to finalize your settings. _It might be necessary to move the newly added pool to the top of the list in order to prioritize it._ **_Example:_** Pool/URL: stratum+tcp://bel.stratum.bellscoin.io:25565 User/Worker: $BEL wallet address Password: Your choice **_Reminder:_**\* Some pools such as [Mining-Dutch](https://www.mining-dutch.nl/) offer solo mining on their site.\* ### View Dashboard ![Bellscoin Pool Dashboard](https://storage.googleapis.com/papyrus_images/faf9498084bcb1c7e4059953f783eeb86c1873522357043b05ccea38ababb498.png) Bellscoin Pool Dashboard To monitor your hash rate and check your rewards, each pool typically provides a dashboard. For instance, you can refer to the pictured example provided [here](https://pool.bellscoin.io/?#). If you’re unable to locate your specific dashboard in this post or on [Discord](https://t.co/4DCHZEdSSE), don’t hesitate to ask a community member for assistance. Pool List: ---------- * _MinePixel_ **official pool** Pool connection URL: stratum+tcp://pool.minepixel.io:3389 Username: Your BEL wallet address Password: Can be anything (special instructions for rentals) Pending balance URL: https://minepixel.io/#bells1/dashboard Balance updates after block confirmation Payouts: Every 5 minutes, minimum 0.5 $BEL Fee: 5% * _BellsCoin_ Pool info: https://pool.bellscoin.io/#bells1 Pool Link: stratum+tcp://bel.stratum.bellscoin.io:25565 Produced Blocks: https://pool.bellscoin.io/#bells1/blocks Payment: Every 10 minutes for pending balance over 0.01 BEL Pool Wallet: BJZBBqhJLq88tH1fZkayaiQ2Lan1HHDGCC Fee: 1% PPLNS OS: Miningcore * _BEL.cool_ Website: https://bel.cool/ Pool Info: https://bel.cool/#bells1 Pool Link: stratum+tcp://pool.bel.cool:3333 Reward: Auto Payment 0.01 BEL Reward Address Pool: BCpTBzJ7ArAQUJ2akjCHgu9NXYN2nfYeDD Fee: 1% OS: Miningcore * _Decenx_ Pool information: https://decenx.io/help/gettingstarted/pool/BEL Pool Link: stratum+tcp://pool.decenx.io The distribution of profits obtained from the pool will be as follows: Total fees: 2%, broken down as follows: Building the Discord community, x.com: 0.5% Fund for builders and developers building dApps on the network: 0.5% Fund for Key Opinion Leaders (KOLs) to develop the BEL community: 0.5% Profit for pool maintenance: 0.5% Mining through the Decenx Pool contributes to decentralization and stimulates community growth * [Mining Dutch](https://www.mining-dutch.nl/) Mining-Dutch Pools 🖥️ website: https://www.mining-dutch.nl/ 💰 Payout: Every 20 minutes, Payout and Convertion to any currency we have. ⛏️ Mining modes: We offer the following modes. PPS Solo PROP PPLNS `- Profitswitching (can be mined PPS / SOLO / PROP / PPLNS ) Smart profitswitching without stale shares or rejects Switch between pools and mining modes from the UI, You only have to configure your miner once. * [DXPool](https://www.dxpool.com/) Website: https://www.dxpool.com/ Bells Pool Info: https://www.dxpool.com/mining/bel/stats Pool Link: stratum+tcp://bel.ss.dxpool.com:6688/bel.ss.dxpool.com:6699 (High Difficulty 500 million above) Service: Auto-Withdrawal at least 0.1 $BEL Reward Address Pool: BFMLnwTh8jXx2YE4sL2MsfPSvnv6bXQh7p Fee: 1% Dashboard: https://dxpool.com/mining/bel/dashboard Support: support@dxpool.com * [f2Pool](https://www.f2pool.com/) Website: https://www.f2pool.com/ Pool Info: f2pool is a geographically distributed mining pool, helping miners all over the globe secure Bitcoin and 40+ Proof–of–Work networks since 2013. Pool Link: stratum+tcp://bells-euro.f2pool.com:7400, stratum+tcp://bells-asia.f2pool.com:7400, stratum+tcp://bells-na.f2pool.com:7400 Reward: PPLNS Reward Address Pool: NA Fee: 1% On the topic of “pre-mine” & "unfair” launch: --------------------------------------------- There has been a little bit of controversy on X surrounding $BEL’s launch that sparked some discussions. I hope to provide some clarity on the topic after a conversation I had with [Luke Wright](https://twitter.com/lukewrightmain): **(DYOR!)** [https://twitter.com/ZachZwei/status/1736419768696197520](https://twitter.com/ZachZwei/status/1736419768696197520) > **Foster:** > > _“…I was wondering about the “pre-mine”… I heard and saw floating around that it was either 0.25% or 1% mined prior to info being “released” about $BEL… If 1% was actually mined, wouldn’t that be the equivalent of almost +$20,000,000?”_ > > **Luke Wright:** > > _“…Right if it was 1% pre-mined that would be ~5,000,000. It wasn’t even that. There was about ~2,000,000 pre-mined by about 5 people… And even with that, most of us stopped mining until the launch post with chat logs that go back to December 9th saying we are done mining… (Before the post was made on the 13th) So I believe we did it extremely fair…”_ [https://twitter.com/adamamcbride/status/1736427168362598502](https://twitter.com/adamamcbride/status/1736427168362598502) **_\*When asked about taking profit\*_** > **Luke Wright:** > > _“…Correct we haven’t taken any money for development, but we also don’t know if we will at this time. We have a core wallet consensus we just posted about for updates and are seriously hard at work on that alone with the new exchange listings and mining pool partnerships.”_ **_\*When asked about Nintendo_\*** [https://twitter.com/BillyM2k/status/1736622434818875804](https://twitter.com/BillyM2k/status/1736622434818875804) > **Foster:** > > _“…My only worry is Nintendo if it takes off haha.”_ > > **Luke Wright:** > > _“If Nintendo were to do anything it would be alright, it would be because of the "icon” picture.”_ **_\*When asked about “BillyM2k’s Vision”_ \*** [https://twitter.com/BillyM2k/status/1736114041402360176](https://twitter.com/BillyM2k/status/1736114041402360176) > **Luke Wright:** > > _“Ordinals will eventually come to $BEL as well… To help us get closer to the vision of a “Marketplace”…”_ ![Mining $BEL](https://storage.googleapis.com/papyrus_images/fb49d7859b7be6135049c8e80a2afdf4f87a192537a69b6a98913ef03854c84a.webp) Mining $BEL Personal Catalysts (ALWAYS DYOR) -------------------------------- ### Marketplace Integration The core team aims to establish a unique marketplace to the $BEL network in hopes to complete BillyM2k’s original vision of the project. ### Wrapped $BEL in DEXs Theres potential for Decentralized Exchanges (DEX) and Decentralized Finance (DeFi) protocols to include wrapped $BEL (ex. $wBEL). This vaguely follows a current trend with Over The Counter (OTC) trading and vaulting on chains like Optimism paving the way for $BEL’s integration with various communities. ### Network Security and Mining Viability (Dual Mining) Post the varied rewards phase, $BEL might face challenges in retaining miners, similar to what the $DOGE community experienced in 2014. A possible “solution” (or a feature in my books) is enabling AuxPoW (Auxiliary Proof of Work), allowing $BEL to coexist with other Scypt based coins for mining, enhancing network security and longevity. > **Jackson Palmer:** > > _“One of the harsh realities of proof-of-work based cryptocurrencies is that their security is reliant on mining being profitable for those dedicating their hashing power to the network. By enabling AuxPoW, we're no longer competing for people's hashrates with other scrypt-based coins.”_ [_\*Coindesk Quote\*_](https://www.coindesk.com/markets/2014/09/11/dogecoin-community-celebrates-as-merge-mining-with-litecoin-begins/) Personal Outlook ---------------- ![$BEL Network Hash](https://storage.googleapis.com/papyrus_images/4904b833c5949a5c63cb4298e1c8cd0234390d5caf906498dcbdaef34dcbab5a.png) $BEL Network Hash ![$DOGE Network Hash](https://storage.googleapis.com/papyrus_images/7e18e87bf5f3d553a00253e10323f2b88d6d358b877c5d1959a372799a453b39.png) $DOGE Network Hash While it might be too soon to compare $BEL with other Scrypt coins in terms of price performance, I've been watching the network hashrate growth and decline of $BEL, $DOGE, and $LTC. The sustainability of $BEL, especially regarding miner profitability, seems crucial. If the $BEL community falls behind in this I believe it could be concerning. However, the current fluctuations in the hashrate across these coins and $BEL specifically are impressive. For me, the deciding factors to stay afloat are the price movements, trading volume, and overall hashrate. If these indicators start to falter in the coming weeks, it might be time to reassess on $BEL. On the flip side, if the developers and community maintain their momentum in expanding the network, I see a promising future and a fun upcoming year. As always, time will be the judge. **_Remember,_** **_this is not financial advice_**, we are talking about a coin that is a play on Animal Crossing lmao. I’ve been a quiet observer in this industry for three years so far and have sometimes found it’s rapid pace to be very exciting but the repetitiveness to sometimes feel overwhelming and mentally draining. It’s hard for me to imagine what it must be like for those on the “sole” retail side trying to stay involved and updated - it’s real information overload. It’s nice to shift my focus away for a brief moment from being overly critical about my choices within this industry and ecosystem to having some enjoyment within the redundancy. As someone with a genuine passion for this industry, $BEL has been a breath of fresh air over the holidays. Just my opinion of course haha. **ONE LAST TIME**: _all of this this isn’t financial advice_. **ALWAYS DYOR**. It’s been fun so far, best of luck to all and happy mining! ![Broke college Nook needs some $BEL](https://storage.googleapis.com/papyrus_images/006986d171d26f9b0ed83e01421527a8ae0dd96bdfedc3a5de3fab169ef45567.jpg) Broke college Nook needs some $BEL --- *Originally published on [derek](https://paragraph.com/@derekfoster/bel-overview)*