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Title: destroying bitcoins Post by: leen93 on March 23, 2015, 05:58:44 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins.
Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven? :D ) 1BitcoinEaterAddressDontSendf59kuE People who helped destroy bitcoins to raise the btc-price: leen93 : 10.000 satoshis FIRST GOAL TO REACH : 100.000 satoshi Title: Re: destroying bitcoins Post by: leen93 on March 23, 2015, 05:59:51 PM please post in this topic when you destroyed some bitcoins togetehr with the tx id when you sended them to the address. Even 1 satoshi can help!
Title: Re: destroying bitcoins Post by: randy8777 on March 23, 2015, 06:41:11 PM if you want to make a serious impact start with destroying 1btc. let's see how much impact it has.
and we will see how many people will follow. ;D Title: Re: destroying bitcoins Post by: leen93 on March 23, 2015, 06:45:17 PM if you want to make a serious impact start with destroying 1btc. let's see how much impact it has. I'll do it later if it works and price goes up :) but we need to do it togetherand we will see how many people will follow. ;D Title: Re: destroying bitcoins Post by: EcuaMobi on March 23, 2015, 06:46:13 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins. Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven? :D ) 1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr People who helped destroy bitcoins to raise the btc-price: leen93 : 10.000 satoshis FIRST GOAL TO REACH : 100.000 satoshi LOL nice try. If you really want to send bitcoins to the void (and not just donate to OP) send them here: 1CounterpartyXXXXXXXXXXXXXXXUWLpVr or even here 1EcuaMobiDoNotSendBTCHereXXYcbk8Da But seriously, just don't. Title: Re: destroying bitcoins Post by: NeuroticFish on March 23, 2015, 06:50:38 PM There are 3 flaws in this:
1. There's no way to prove the key is indeed lost - when your goal of BTC is reached, you can just easily run with the coins. I don't say that this will happen, but .. just put yourself in my place and think. 2. While BTC doesn't have a clearly established value (price), scarcity will not increase its price in the way to worth it. Just imagine that a mining farm may dump in one day more than you can gather with this project. 3. People don't really depart of their valuable assets if there's no clear benefit in that. Title: Re: destroying bitcoins Post by: leen93 on March 23, 2015, 06:51:01 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins. Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven? :D ) 1BitcoinEaterAddressDontSendf59kuE People who helped destroy bitcoins to raise the btc-price: leen93 : 10.000 satoshis FIRST GOAL TO REACH : 100.000 satoshi LOL nice try. If you really want to send bitcoins to the void (and not just donate to OP) send them here: 1CounterpartyXXXXXXXXXXXXXXXUWLpVr or even here 1EcuaMobiDoNotSendBTCHereXXYcbk8Da But seriously, just don't. what are those addresses? I'm also wondering if there is any way to make a wallet and proof you don't have the private key? Title: Re: destroying bitcoins Post by: leen93 on March 23, 2015, 06:53:43 PM There are 3 flaws in this: 1. is there a way to prove that?1. There's no way to prove the key is indeed lost - when your goal of BTC is reached, you can just easily run with the coins. I don't say that this will happen, but .. just put yourself in my place and think. 2. While BTC doesn't have a clearly established value (price), scarcity will not increase its price in the way to worth it. Just imagine that a mining farm may dump in one day more than you can gather with this project. 3. People don't really depart of their valuable assets if there's no clear benefit in that. 2. the net supply of bitcoins will still be less, less supply does increase bitcoins' price 3. supporting bitcoin might be valuable for some people Title: Re: destroying bitcoins Post by: NeuroticFish on March 23, 2015, 07:00:42 PM 1. is there a way to prove that? 2. the net supply of bitcoins will still be less, less supply does increase bitcoins' price 3. supporting bitcoin might be valuable for some people 1. From what I know, there's no way. 2. It's not like that. Not that simple and not directly. Just imagine how much fuel (and hydrogen) and metals are lost in space because of the satellites and space program. Did that make them more expensive? 3. Yes. But this not really supporting bitcoin, sorry. Title: Re: destroying bitcoins Post by: leen93 on March 23, 2015, 07:22:13 PM 1. is there a way to prove that? 2. the net supply of bitcoins will still be less, less supply does increase bitcoins' price 3. supporting bitcoin might be valuable for some people 1. From what I know, there's no way. 2. It's not like that. Not that simple and not directly. Just imagine how much fuel (and hydrogen) and metals are lost in space because of the satellites and space program. Did that make them more expensive? 3. Yes. But this not really supporting bitcoin, sorry. 2. slightly yes, but bitcoin is quite price inelastic so a small drop in supply or raise in demand can have some effect. 3. it has a positive price on the bitcoin price and by this supporting all the bitcoin community, possibly bringing good news ... Title: Re: destroying bitcoins Post by: oblivi on March 23, 2015, 07:39:33 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins. LOL, dumbest thing i've read all day. It's probably your address. What we need is more adoption, that's all thats needed to sky rocket he price. Unless you get a whale to "destroy" tons of them it will never have a real impact on the price.Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven? :D ) 1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr People who helped destroy bitcoins to raise the btc-price: leen93 : 10.000 satoshis FIRST GOAL TO REACH : 100.000 satoshi Title: Re: destroying bitcoins Post by: OROBTC on March 23, 2015, 07:48:27 PM ...
IMO, destroying Bitcoins in this fashion serves no useful purpose. So we lose a Bitcoin or two if OP is truthful and people "contribute", we really gain nothing as a community. A better use of Bitcoin would be to go spend some on something useful (gold) or to just BUY MORE of them! Buying more increases the demand, which would have about the same net effect as cutting supply (destroying Bitcoins). Why destroy BTC? Just buy more! Or use some BTC to buy gold... Title: Re: destroying bitcoins Post by: FullLife on March 23, 2015, 08:41:16 PM Do people actually fall for this?
Title: Re: destroying bitcoins Post by: EcuaMobi on March 23, 2015, 08:42:34 PM Do people actually fall for this? It seems they don't, fortunately. Only TX is OP's. Title: Re: destroying bitcoins Post by: SirChiko on March 23, 2015, 08:50:11 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins. I don't see this anyhow "supporting btc" this is bullshit i'm sorry man.Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven? :D ) 1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr People who helped destroy bitcoins to raise the btc-price: leen93 : 10.000 satoshis FIRST GOAL TO REACH : 100.000 satoshi Also nobody has proof that you don't have the private key so you can run away with coins wuite easily. Just my 5 cents. Title: Re: destroying bitcoins Post by: flyingplows on March 23, 2015, 08:53:15 PM :o :o :o
What a brilliant idea ;D Maybe people could destroy all their fiat money also and there would be left only crypto currencies ;) But oh wait... Governments would just print more of them or remove cash money at all leaving only bank transfers and credit-cards :D Btw, I would really destroy up to a dollar btc value if there was some legit operation of this kind... not to increase price, but, you know, just to take part in publicly destroying something :P Title: Re: destroying bitcoins Post by: pedrog on March 23, 2015, 09:36:13 PM I don't have the private key and nobody does like i told you what are those addresses? I'm also wondering if there is any way to make a wallet and proof you don't have the private key? Yes, you can create valid addresses without generating the private key also. Check this website: http://earlz.net/view/2014/10/22/0340/provably-spendable-altcoin-burn-addresses Also, here's a list of popular burn addresses: https://bitcointalk.org/index.php?topic=917913.0 Title: Re: destroying bitcoins Post by: Razick on March 23, 2015, 09:50:51 PM Even if this wasn't clearly an attempt to receive Bitcoins, there is a major flaw: anyone who destroys their own Bitcoin is guaranteed to lose more than any resultant price increase.
Title: Re: destroying bitcoins Post by: bitboy11 on March 23, 2015, 10:24:34 PM OP, you are a funny guy.
Perhaps you should be a stand-up comedian. This is the bitcoin joke of the day. ;D Title: Re: destroying bitcoins Post by: randy8777 on March 24, 2015, 12:02:53 AM if you want to make a serious impact start with destroying 1btc. let's see how much impact it has. I'll do it later if it works and price goes up :) but we need to do it togetherand we will see how many people will follow. ;D people won't do it. and there is no need to. i will never "destroy" my coins no matter if the size is low or high. the eventual gain is not worth it. Title: Re: destroying bitcoins Post by: johnyj on March 24, 2015, 12:42:11 AM In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time
The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day, the value will increase for sure, and an easy way is to purchase from exchanges and spend them Title: Re: destroying bitcoins Post by: KenR on March 24, 2015, 04:08:04 PM In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day, the value will increase for sure, and an easy way is to purchase from exchanges and spend them Yes, I think also like it, buy as many bitcoin in the exchanger, it would be a good policy to raise back the bitcoin price Title: Re: destroying bitcoins Post by: Amph on March 24, 2015, 04:27:36 PM In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day, the value will increase for sure, and an easy way is to purchase from exchanges and spend them this is true only if there is interest in purchasing bitcoin, by normal people( the classic "average joe/josephine"/newbies), otherwise you can freeze as many bitcoin as you want, and the price won't rise too interest is the real key Title: Re: destroying bitcoins Post by: Mikestang on March 24, 2015, 04:33:29 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins. Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin Derrrr, whaaaaaaaaaat? What a screwy idea, I don't think things work quite how you think they do. Rather than destroy btc, you can send it to me and I'll spend them. Using btc in day to day life is a much, much better way to support bitcoin than purposefully losing coins. Title: Re: destroying bitcoins Post by: manselr on March 24, 2015, 07:21:31 PM In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day, the value will increase for sure, and an easy way is to purchase from exchanges and spend them this is true only if there is interest in purchasing bitcoin, by normal people( the classic "average joe/josephine"/newbies), otherwise you can freeze as many bitcoin as you want, and the price won't rise too interest is the real key Title: Re: destroying bitcoins Post by: johnyj on March 24, 2015, 11:03:53 PM In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day, the value will increase for sure, and an easy way is to purchase from exchanges and spend them this is true only if there is interest in purchasing bitcoin, by normal people( the classic "average joe/josephine"/newbies), otherwise you can freeze as many bitcoin as you want, and the price won't rise too interest is the real key Consumption is real money flow. You don't need other people, with 2 million bitcoin user, each buying and spending 10 bitcoin every month, there will be 10 million coins permanently occupied in circulation thus not available for others to purchase on exchanges, and currently the coins on all of the exchanges is maximum 1 million, so the coin price must rise at least 10 times to achieve that You might say that the interest of doing so is low. But wait a second, these 2 million bitcoin users all have certain amount of bitcoin holding, doing so will raise the value of their bitcoin holding by 10 fold, why aren't they interested? Title: Re: destroying bitcoins Post by: elianite on March 25, 2015, 06:54:12 AM you should just throw it into the genesis block address. sacrifice to Satoshi!
Title: Re: destroying bitcoins Post by: vlad12 on March 25, 2015, 08:24:43 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins. Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven? :D ) 1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr People who helped destroy bitcoins to raise the btc-price: leen93 : 10.000 satoshis FIRST GOAL TO REACH : 100.000 satoshi Scammy as fuck. I guarantee you with 100% certainty that YOU own that BTC address which you posted. Stop trying to scam noobs. If you want to actually burn BTC (provably) send here: 1CounterpartyXXXXXXXXXXXXXXXUWLpVr https://en.bitcoin.it/wiki/Proof_of_burn (https://en.bitcoin.it/wiki/Proof_of_burn) Title: Re: destroying bitcoins Post by: randy8777 on March 26, 2015, 12:39:02 AM In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day, the value will increase for sure, and an easy way is to purchase from exchanges and spend them i have seen plenty of 2012 and 2013 wallets where there is no output while it has a fair amount of coins inside. it's not possible to see if these are cold wallets or "no access" wallets. Title: Re: destroying bitcoins Post by: vrm86 on March 26, 2015, 10:40:23 AM OP has just invented new way to scam people, at least quite funny :D
Title: Re: destroying bitcoins Post by: zetaray on March 26, 2015, 10:51:55 AM You can destroy 1000btc and price will not change a bit. There are thousands of bitcoin lost because of forgotten passwords and corrupted wallets. Your effort is minuscule in comparison.
Title: Re: destroying bitcoins Post by: Q7 on March 26, 2015, 11:04:07 AM If anyone wants to do it, the person could just send to any random address. I mean I would fancy an address with some catchy and funny names. Anyway, nice try catching some btc. If I want to do it, I would rather get the counterparty address and send whatever amount I want to.
Title: Re: destroying bitcoins Post by: Josef27 on March 26, 2015, 11:06:13 AM If anyone wants to do it, the person could just send to any random address. I mean I would fancy an address with some catchy and funny names. Anyway, nice try catching some btc. If I want to do it, I would rather get the counterparty address and send whatever amount I want to. The question is, who would want to do it? :DI didn't want to destroy my own hardwork Title: Re: destroying bitcoins Post by: Amph on March 26, 2015, 12:47:52 PM In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day, the value will increase for sure, and an easy way is to purchase from exchanges and spend them this is true only if there is interest in purchasing bitcoin, by normal people( the classic "average joe/josephine"/newbies), otherwise you can freeze as many bitcoin as you want, and the price won't rise too interest is the real key Consumption is real money flow. You don't need other people, with 2 million bitcoin user, each buying and spending 10 bitcoin every month, there will be 10 million coins permanently occupied in circulation thus not available for others to purchase on exchanges, and currently the coins on all of the exchanges is maximum 1 million, so the coin price must rise at least 10 times to achieve that You might say that the interest of doing so is low. But wait a second, these 2 million bitcoin users all have certain amount of bitcoin holding, doing so will raise the value of their bitcoin holding by 10 fold, why aren't they interested? well i'm not talking about the interest of who own bitcoin, but from new people who will buy it, if those "new people" will not share the same interest, the price will not rise significantly, remember we need new influx of money, not just those who hold bitcoin Title: Re: destroying bitcoins Post by: chmod755 on March 26, 2015, 12:53:59 PM Reducing supply does not necessarily mean it will maintain or increase demand.
If you want to have a positive impact on the Bitcoin economy spend some coins. Title: Re: destroying bitcoins Post by: sgk on March 26, 2015, 01:26:43 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins. Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven? :D ) 1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr People who helped destroy bitcoins to raise the btc-price: leen93 : 10.000 satoshis FIRST GOAL TO REACH : 100.000 satoshi 1. What's the guarantee this will drive the price up? 2. If you destroy Bitcoins and price increases, don't you have same amount of money? (More BTC with less price VS Less BTC with high price) 3. What's the guarantee the private key to that address is lost? (Apart from trusting your word) 4. Why not use a proven 'Proof of Burn' address instead of using yours? (https://en.bitcoin.it/wiki/Proof_of_burn , https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr) Title: Re: destroying bitcoins Post by: Eastwind on March 26, 2015, 02:59:42 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins. Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven? :D ) 1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr People who helped destroy bitcoins to raise the btc-price: leen93 : 10.000 satoshis FIRST GOAL TO REACH : 100.000 satoshi You want to increase the value of BTC by reducing the circulated coins. We can also reduce the emission speed of BTC. For example, we can change the emission to 6.25 BTC per 10 mins intead of 12.5 BTC per 10 mins and make the half time every 8 years. This will slow down the emission but keep the total number of coins. For the time being, when BTC is not popular, we need about 25*144*250 dollar to absorb the coins. That could be too high for the market at this stage. Title: Re: destroying bitcoins Post by: planetroving on March 27, 2015, 07:00:52 AM I don't think reducing the number of Bitcoins in cicrulation will actually see the price higher. Also, as many others here have said, this is likely to be a scam, for the user to earn some easy Bitcoins. Just my opinion.
Title: Re: destroying bitcoins Post by: redsn0w on March 27, 2015, 07:22:01 AM Reducing supply does not necessarily mean it will maintain or increase demand. If you want to have a positive impact on the Bitcoin economy spend some coins. I suggest the OP and all we to buy more bitcoin, this is the only valid way for increase the price (or better) the value of bitcoin itself. Destroy it will not raise the value (or at least not now, maybe in the next 20-25 years). Title: Re: destroying bitcoins Post by: chmod755 on March 27, 2015, 07:33:57 AM I suggest the OP and all we to buy more bitcoin, this is the only valid way for increase the price (or better) the value of bitcoin itself. Destroy it will not raise the value (or at least not now, maybe in the next 20-25 years). Buy more bitcoins if you have money you can afford to lose. I suggested 'spend bitcoins', even thought many merchants will sell those coins (Overstock keeps 10% in Bitcoin IIRC) - if they are seeing increased sales they will probably recommend Bitcoin --> increases the chance of more people using it. Title: Re: destroying bitcoins Post by: AtheistAKASaneBrain on March 27, 2015, 06:15:27 PM I suggest the OP and all we to buy more bitcoin, this is the only valid way for increase the price (or better) the value of bitcoin itself. Destroy it will not raise the value (or at least not now, maybe in the next 20-25 years). Buy more bitcoins if you have money you can afford to lose. I suggested 'spend bitcoins', even thought many merchants will sell those coins (Overstock keeps 10% in Bitcoin IIRC) - if they are seeing increased sales they will probably recommend Bitcoin --> increases the chance of more people using it. Title: Re: destroying bitcoins Post by: chmod755 on March 27, 2015, 06:24:40 PM The thing is most people don't see buying stuff with bitcoin as worth it when they can buy the exact same things with fiat, because fiat will not go up and bitcoin will go up, so whats the point. If you look at the chart since Jan 2014 it's mostly going down.... Bitcoin will go up maybe one day, but it takes people to actually use it to be valuable. Title: Re: destroying bitcoins Post by: redsn0w on March 27, 2015, 06:28:43 PM I suggest the OP and all we to buy more bitcoin, this is the only valid way for increase the price (or better) the value of bitcoin itself. Destroy it will not raise the value (or at least not now, maybe in the next 20-25 years). Buy more bitcoins if you have money you can afford to lose. I suggested 'spend bitcoins', even thought many merchants will sell those coins (Overstock keeps 10% in Bitcoin IIRC) - if they are seeing increased sales they will probably recommend Bitcoin --> increases the chance of more people using it. This is a temporary condition, in the future the price will be more stationary and I think bitcoin will be used for alternative things (also now it is used for these things) like send payment from one city to another city (almost with zero/0 fee) and with the rapidity and security that the FIAT money can't give. The point to use bitcoin (at the end) is to be revolutionary and create a new economy better (I hope) than the actual one, based on corruption and thieves. Title: Re: destroying bitcoins Post by: doggieTattoo on March 27, 2015, 06:45:04 PM Wow, this is extremely sketchy. Even though you don't have negative trust, I still don't know if I can believe that. I know it seems that you are trying to do a favor but it kind of seems like you are just funneling money. I might be completely wrong but everyone proceed with caution.
Title: Re: destroying bitcoins Post by: BillyBobZorton on March 27, 2015, 07:44:29 PM I suggest the OP and all we to buy more bitcoin, this is the only valid way for increase the price (or better) the value of bitcoin itself. Destroy it will not raise the value (or at least not now, maybe in the next 20-25 years). Buy more bitcoins if you have money you can afford to lose. I suggested 'spend bitcoins', even thought many merchants will sell those coins (Overstock keeps 10% in Bitcoin IIRC) - if they are seeing increased sales they will probably recommend Bitcoin --> increases the chance of more people using it. This is a temporary condition, in the future the price will be more stationary and I think bitcoin will be used for alternative things (also now it is used for these things) like send payment from one city to another city (almost with zero/0 fee) and with the rapidity and security that the FIAT money can't give. The point to use bitcoin (at the end) is to be revolutionary and create a new economy better (I hope) than the actual one, based on corruption and thieves. Title: Re: destroying bitcoins Post by: Q7 on March 28, 2015, 12:14:29 AM The point is every time we spend buying with bitcoin the logical approach is to buy back to cover the amount. Else it will be a net drain going to the market as the merchant will just convert it to fiat. This will keep the coins flowing
Title: Re: destroying bitcoins Post by: A10010 on March 28, 2015, 12:18:02 AM Don't know if scam or just a really stupid idea...
Title: Re: destroying bitcoins Post by: Amph on March 28, 2015, 08:08:29 AM I suggest the OP and all we to buy more bitcoin, this is the only valid way for increase the price (or better) the value of bitcoin itself. Destroy it will not raise the value (or at least not now, maybe in the next 20-25 years). Buy more bitcoins if you have money you can afford to lose. I suggested 'spend bitcoins', even thought many merchants will sell those coins (Overstock keeps 10% in Bitcoin IIRC) - if they are seeing increased sales they will probably recommend Bitcoin --> increases the chance of more people using it. and even the speed isn't really better in bitcoin, average person think "why i need bitcoin if i can pay with paypal/debit card?" they really have some reason here also going up is a good thing for bitcoin, the problem is related to security/speed of transactions, which aren't exactly better than fiat spending bitcoin right now is too slow i think Title: Re: destroying bitcoins Post by: EternalWingsofGod on March 28, 2015, 08:19:14 AM In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day, the value will increase for sure, and an easy way is to purchase from exchanges and spend them Was skimming through the thread to see if someone made that note or not In essence that is the correct approach to take removing coins from circulation is the same as decreasing the monetary supply Scarce coins means increased value, so while coin destruction does work the best way to do it is cold storage with coins going offline for long periods of time, although when they wake up Coin age will move like one heck of a crazy stat. Title: Re: destroying bitcoins Post by: Dotakels on March 28, 2015, 10:51:12 AM It means. When the demand of BTC is decreased,the price of the BTC increased. Demand and price relationship.
Title: Re: destroying bitcoins Post by: Lauda on March 28, 2015, 01:11:21 PM It means. When the demand of BTC is decreased,the price of the BTC increased. Demand and price relationship. When the demand is decreased? Are you high or something?You definitely had to mean when the supply get decreased the price should increase. This doesn't necessarily have to be true. It's a free market after all. OP the idea is both good and bad. We should rather focus and work on adoption, not send money to some address that you might even control. Title: Re: destroying bitcoins Post by: redsn0w on March 28, 2015, 01:23:19 PM It means. When the demand of BTC is decreased,the price of the BTC increased. Demand and price relationship. When the demand is decreased? Are you high or something?You definitely had to mean when the supply get decreased the price should increase. This doesn't necessarily have to be true. It's a free market after all. OP the idea is both good and bad. We should rather focus and work on adoption, not send money to some address that you might even control. I agree with your sentence, but I think you know that if bitcoin will be "largely" used the price will low and not the contrary. The value and the price of a thing are not always the same thing and destroy it (in my honest opinion) will not rise the value. PS: I think the halving will generate a sort of pump, but we will never see again 1'000 dollar/bitcoin (it is not possible, but maybe when the reward will be less than 1 btc we can start think about one thousand of dollars per bitcoin). Title: Re: destroying bitcoins Post by: Dotakels on March 28, 2015, 01:32:35 PM I mean that the lower the demand the higher the price.
Title: Re: destroying bitcoins Post by: Lauda on March 28, 2015, 01:34:50 PM I agree with your sentence, but I think you know that if bitcoin will be "largely" used the price will low and not the contrary. The value and the price of a thing are not always the same thing and destroy it (in my honest opinion) will not rise the value. But that thinking is wrong. The price won't be low, we will be using something like bits, or satoshis. Imagine if you have 500mil users. At least some of them have to hold a certain amount of Bitcoins. I mean they will hold them back, not use them. The market won't be able to support the demand at the current price. That's why Bitcoin can skyrocket more than anything, as we've seen this in the past.PS: I think the halving will generate a sort of pump, but we will never see again 1'000 dollar/bitcoin (it is not possible, but maybe when the reward will be less than 1 btc we can start think about one thousand of dollars per bitcoin). $1000 is actually quite easy to reach. If the ETF is successful after launch, who knows where the price will be. I mean that the lower the demand the higher the price. This is incorrect. If the demand goes down, the price will decrease. If there is no demand at all, the price will be zero. Title: Re: destroying bitcoins Post by: unamis76 on March 28, 2015, 01:41:54 PM I'm going to disregard the fact that OP probably has the private keys...
Why the hell would anyone would like to burn coins? I seriously don't get it. So many Bitcoins burned... I would be very happy to have them. If you simply don't want the coins, just distribute them around to people who do want them. Burning them won't affect the price one bit. The supply/demand theory is just that: theory. We've seen it doesn't really affect prices on crypto. Title: Re: destroying bitcoins Post by: sgk on March 28, 2015, 01:54:32 PM Dear OP,
Let's assume that burning coins will increase the price. (I am not saying I believe in it, but let's assume.) But what is the guarantee that you don't have the private key? Title: Re: destroying bitcoins Post by: Dotakels on March 28, 2015, 02:54:12 PM I agree with your sentence, but I think you know that if bitcoin will be "largely" used the price will low and not the contrary. The value and the price of a thing are not always the same thing and destroy it (in my honest opinion) will not rise the value. But that thinking is wrong. The price won't be low, we will be using something like bits, or satoshis. Imagine if you have 500mil users. At least some of them have to hold a certain amount of Bitcoins. I mean they will hold them back, not use them. The market won't be able to support the demand at the current price. That's why Bitcoin can skyrocket more than anything, as we've seen this in the past.PS: I think the halving will generate a sort of pump, but we will never see again 1'000 dollar/bitcoin (it is not possible, but maybe when the reward will be less than 1 btc we can start think about one thousand of dollars per bitcoin). $1000 is actually quite easy to reach. If the ETF is successful after launch, who knows where the price will be. I mean that the lower the demand the higher the price. This is incorrect. If the demand goes down, the price will decrease. If there is no demand at all, the price will be zero. Title: Re: destroying bitcoins Post by: redsn0w on March 28, 2015, 03:16:08 PM I agree with your sentence, but I think you know that if bitcoin will be "largely" used the price will low and not the contrary. The value and the price of a thing are not always the same thing and destroy it (in my honest opinion) will not rise the value. But that thinking is wrong. The price won't be low, we will be using something like bits, or satoshis. Imagine if you have 500mil users. At least some of them have to hold a certain amount of Bitcoins. I mean they will hold them back, not use them. The market won't be able to support the demand at the current price. That's why Bitcoin can skyrocket more than anything, as we've seen this in the past.PS: I think the halving will generate a sort of pump, but we will never see again 1'000 dollar/bitcoin (it is not possible, but maybe when the reward will be less than 1 btc we can start think about one thousand of dollars per bitcoin). $1000 is actually quite easy to reach. If the ETF is successful after launch, who knows where the price will be. I don't know if you are wrong or not, but are you agree with me when I am saying the halving will generate a sort of pump. I don't "think" the ETF will rise the price to ~1'000 dollars, most probable around 500-600 dollars. just my personal opinion (and I want to share it with the community). You are incorrect. You said that if demands go down, the price will decreased? Hahaha your talking to demand and supply relationship. The demand and price relationship is when the demand goes down the price will increased. And vice versa If no one buy, can you tell me how the price should increase? It is almost impossible that the price raise if no one (or only a few quantity of person) buy bitcoins. Title: Re: destroying bitcoins Post by: Dotakels on March 28, 2015, 03:42:40 PM I agree with your sentence, but I think you know that if bitcoin will be "largely" used the price will low and not the contrary. The value and the price of a thing are not always the same thing and destroy it (in my honest opinion) will not rise the value. But that thinking is wrong. The price won't be low, we will be using something like bits, or satoshis. Imagine if you have 500mil users. At least some of them have to hold a certain amount of Bitcoins. I mean they will hold them back, not use them. The market won't be able to support the demand at the current price. That's why Bitcoin can skyrocket more than anything, as we've seen this in the past.PS: I think the halving will generate a sort of pump, but we will never see again 1'000 dollar/bitcoin (it is not possible, but maybe when the reward will be less than 1 btc we can start think about one thousand of dollars per bitcoin). $1000 is actually quite easy to reach. If the ETF is successful after launch, who knows where the price will be. I don't know if you are wrong or not, but are you agree with me when I am saying the halving will generate a sort of pump. I don't "think" the ETF will rise the price to ~1'000 dollars, most probable around 500-600 dollars. just my personal opinion (and I want to share it with the community). You are incorrect. You said that if demands go down, the price will decreased? Hahaha your talking to demand and supply relationship. The demand and price relationship is when the demand goes down the price will increased. And vice versa If no one buy, can you tell me how the price should increase? It is almost impossible that the price raise if no one (or only a few quantity of person) buy bitcoins. Title: Re: destroying bitcoins Post by: chmod755 on March 28, 2015, 05:18:07 PM You said that if demands go down, the price will decreased? Hahaha your talking to demand and supply relationship. The demand and price relationship is when the demand goes down the price will increased. And vice versa Demand going down means that people are willing to pay less per Bitcoin. Quote Demand is a buyer's willingness and ability to pay a price for a specific quantity of a good or service. Demand refers to how much (quantity) of a product or service is desired by buyers at various prices. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand.[1] (see also supply and demand). The term demand signifies the ability or the willingness to buy a particular commodity at a given point of time, ceteris paribus. http://en.wikipedia.org/wiki/Demand Title: Re: destroying bitcoins Post by: flyingplows on March 28, 2015, 07:52:10 PM There is no need to destroy anything ;) Keep your calm ;) If! If btc is to take global dominance the price will rise no matter what ;) It doesn't matter if the price today is 50$ higher or lower ;) There is a big road ahead of us, don't panic ;) There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed ;) Keep it cool guys ;)
Title: Re: destroying bitcoins Post by: abyrnes81 on March 28, 2015, 07:56:11 PM There is no need to destroy anything ;) Keep your calm ;) If! If btc is to take global dominance the price will rise no matter what ;) It doesn't matter if the price today is 50$ higher or lower ;) There is a big road ahead of us, don't panic ;) There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed ;) Keep it cool guys ;) Woouw such emoticon, only one question: will you use bitcoin if tomorrow the price will be 100 dollars? Yes or No. I hope you will reply to my question with a full explanation (and please don't use a lot of smilies,thanks). Title: Re: destroying bitcoins Post by: flyingplows on March 28, 2015, 08:10:44 PM There is no need to destroy anything ;) Keep your calm ;) If! If btc is to take global dominance the price will rise no matter what ;) It doesn't matter if the price today is 50$ higher or lower ;) There is a big road ahead of us, don't panic ;) There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed ;) Keep it cool guys ;) Woouw such emoticon, only one question: will you use bitcoin if tomorrow the price will be 100 dollars? Yes or No. I hope you will reply to my question with a full explanation (and please don't use a lot of smilies,thanks). It is a simple answer really ;) I bought some bitcoins so I would be sad a bit about 100$ price, but not that much since I would think the price would go up ;) As to using them I can't even see how that is an issue; that is if you want to USE bitcoin - you can use it no matter the price. Just buy it for a current price and use it for a current price, whats the problem there ;) Ups... those emoticons... Title: Re: destroying bitcoins Post by: el kaka22 on March 28, 2015, 11:55:21 PM haha ;D if I had I would send some bitcoin to that wallet, even though it's your
don't need to do anything like that, just relax OP .. we know at this time we had a low price. but still believe someday the price will go back.. just be patience Title: Re: destroying bitcoins Post by: Dotakels on March 29, 2015, 03:40:41 AM Be patient. Everything hasl change. :D
Title: Re: destroying bitcoins Post by: johnyj on March 29, 2015, 05:07:17 AM Similar to diamond dealers lock up most of the diamonds and sell only a few at high price
Title: Re: destroying bitcoins Post by: redsn0w on March 29, 2015, 05:12:38 AM Similar to diamond dealers lock up most of the diamonds and sell only a few at high price Maybe you are correct, but remember that diamond or gold are not similar to bitcoin so your thought is not 100% valid. Ps: destroy it or "hide" hold a part doesn't necessary rise the price (at least here with btc). Title: Re: destroying bitcoins Post by: Cluster2k on March 29, 2015, 02:00:19 PM Another day, another scammer trying desperately to run a scam. The major problem with bitcoin is that it's a scammer's delight. A honey pot for fraud. If the OP actually wants to increase the value of bitcoins then how about starting a business that provides real value?
Title: Re: destroying bitcoins Post by: johnyj on March 30, 2015, 12:36:39 PM Another day, another scammer trying desperately to run a scam. The major problem with bitcoin is that it's a scammer's delight. A honey pot for fraud. If the OP actually wants to increase the value of bitcoins then how about starting a business that provides real value? The current problem is not lacking of business that provides real value, in fact there are too many of them and they are going bankrupt because people don't have enough money to spend. Increase the bitcoin price will give people more money to spend, thus save those businesses ;) Just like creating more USD will stimulate economy, higher bitcoin value will stimulate economy too ;D Title: Re: destroying bitcoins Post by: bitpop on April 13, 2015, 08:47:35 PM I've destroyed some earlier
Title: Re: destroying bitcoins Post by: sgk on April 14, 2015, 04:31:11 AM I notice the OP has replaced his own address with the known Bitcoin Eater address now:
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE Probably he wasn't aware earlier that there was already a Bitcoin Eater address. So it is no more a scam, but still I see no reason for the price to go up just by limiting the available quantity. There are millions on coins in existence, a few coins distroyed here and there can't make much difference. Title: Re: destroying bitcoins Post by: EcuaMobi on April 14, 2015, 04:33:03 AM I notice the OP has replaced his own address with the known Bitcoin Eater address now: https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE Probably he wasn't aware earlier that there was already a Bitcoin Eater address. So it is no more a scam This happened: https://bitcointalk.org/index.php?topic=1008093.msg10941590#msg10941590 Title: Re: destroying bitcoins Post by: sgk on April 14, 2015, 04:42:30 AM I notice the OP has replaced his own address with the known Bitcoin Eater address now: https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE Probably he wasn't aware earlier that there was already a Bitcoin Eater address. So it is no more a scam This happened: https://bitcointalk.org/index.php?topic=1008093.msg10941590#msg10941590 Wow.. glad to see you went that extra mile to stop him from scamming everyone. Although it is also sad that people like him acn abuse the trust system to the full extent and blackmail people on this regard. I guess I can no longer give him a benefit of doubt. He purposefully tried to scam people. I hope nobody sent any satoshi to the old address. Title: Re: destroying bitcoins Post by: Amph on April 14, 2015, 07:20:58 AM better to destroy fiat and decrease inflation, thus making fiat stronger and as a consequence bitcoin also
bitcoin are too precious too be destroyed Title: Re: destroying bitcoins Post by: bitpop on April 14, 2015, 05:17:15 PM better to destroy fiat and decrease inflation, thus making fiat stronger and as a consequence bitcoin also bitcoin are too precious too be destroyed Fiat is like paycoin, 350% more printed per day, destroying does nothing Title: Re: destroying bitcoins Post by: ashour on April 14, 2015, 07:06:31 PM better to destroy fiat and decrease inflation, thus making fiat stronger and as a consequence bitcoin also Exactly bitcoin has a limited supply of 21 million coins which is really low. By burning coins juts cause a deflation to the bitcoin economy which isn't good at all. Burning coins would be helpful if the supply was inflated which is not the case here.bitcoin are too precious too be destroyed Title: Re: destroying bitcoins Post by: RodeoX on April 14, 2015, 07:09:46 PM Let's try it with gold next. Start destroying all your gold (I don't even know how). If we each destroy one ounce of gold I will be richer in no time.
P.S. You have a lot of work ahead if you hope to change the price of bitcoin. You have done 10 Satoshi so far that = USD $0.0000217660. Not even close to one single penny. Compare that to like 3600 BTC produced per day. You are going to have to convince people to destroy about $7,000 dollars worth of BTC per day to have any impact. Good luck. Title: Re: destroying bitcoins Post by: ibminer on April 14, 2015, 07:12:12 PM I realize this is not a logical solution but if we really wanted to do this could we not essentially accomplish the same thing by changing Bitcoin itself, increasing the transaction fee by .001 and discarding it? Obviously screws with the whole concept of Bitcoin, but the point is... don't send this guy any coins! ;D
Title: Re: destroying bitcoins Post by: bitpop on April 14, 2015, 07:16:32 PM I realize this is not a logical solution but if we really wanted to do this could we not essentially accomplish the same thing by changing Bitcoin itself, increasing the transaction fee by .001 and discarding it? Obviously screws with the whole concept of Bitcoin, but the point is... don't send this guy any coins! ;D Nah we only have one more dea auction and halving next year, we're almost there. Title: Re: destroying bitcoins Post by: Lauda on April 14, 2015, 08:48:11 PM Let's try it with gold next. Start destroying all your gold (I don't even know how). If we each destroy one ounce of gold I will be richer in no time. Well that just bring us back to the core of economics. Is deflation really bad or good?P.S. You have a lot of work ahead if you hope to change the price of bitcoin. You have done 10 Satoshi so far that = USD $0.0000217660. Not even close to one single penny. Compare that to like 3600 BTC produced per day. You are going to have to convince people to destroy about $7,000 dollars worth of BTC per day to have any impact. Good luck. I'd definitely not advise the destruction of a limited currency such as Bitcoin. Luckily it can be divided, because 21 million wouldn't be enough otherwise. Title: Re: destroying bitcoins Post by: merve10495 on April 14, 2015, 11:01:45 PM People who helped destroy bitcoins to raise the btc-price: But the price just went down again! Oh Noes! This is having the opposite effect! leen93 : 10.000 satoshis EVERYBODY PANIC! Title: Re: destroying bitcoins Post by: Amph on April 15, 2015, 07:16:39 AM better to destroy fiat and decrease inflation, thus making fiat stronger and as a consequence bitcoin also bitcoin are too precious too be destroyed Fiat is like paycoin, 350% more printed per day, destroying does nothing if all citizens, start destroying it, i'm sure the printing can't match the destruction, resulting in less scam fiat in circulation and btw there are 15-30% of bitcoin destroyed already, is more than enough Title: Re: destroying bitcoins Post by: Sithara007 on April 15, 2015, 02:14:53 PM if you want to make a serious impact start with destroying 1btc. let's see how much impact it has. and we will see how many people will follow. ;D Hahahahaa...that was a good one. I think that is rally silly idear. Destroying your own money and thinking other would follow is foolishness. Title: Re: destroying bitcoins Post by: Dotakels on April 15, 2015, 03:51:34 PM if you want to make a serious impact start with destroying 1btc. let's see how much impact it has. and we will see how many people will follow. ;D Hahahahaa...that was a good one. I think that is rally silly idear. Destroying your own money and thinking other would follow is foolishness. Title: Re: destroying bitcoins Post by: aso118 on April 15, 2015, 11:58:14 PM if all citizens, start destroying it, i'm sure the printing can't match the destruction, resulting in less scam fiat in circulation Most fiat is generated through a decision of the central bank / commercial banks through fractional reserve lending. Destroying fiat isn't going to help you. It is just going to transfer value from you to the system you hate. Title: Re: destroying bitcoins Post by: Hazir on April 16, 2015, 12:21:40 AM if all citizens, start destroying it, i'm sure the printing can't match the destruction, resulting in less scam fiat in circulation Most fiat is generated through a decision of the central bank / commercial banks through fractional reserve lending. Destroying fiat isn't going to help you. It is just going to transfer value from you to the system you hate. But destroying bitcoin from the other hand has very good effect bitcoin's economy. It is just like Satoshi said: Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone. Title: Re: destroying bitcoins Post by: Dotakels on April 16, 2015, 04:22:21 AM if all citizens, start destroying it, i'm sure the printing can't match the destruction, resulting in less scam fiat in circulation Most fiat is generated through a decision of the central bank / commercial banks through fractional reserve lending. Destroying fiat isn't going to help you. It is just going to transfer value from you to the system you hate. But destroying bitcoin from the other hand has very good effect bitcoin's economy. It is just like Satoshi said: Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone. Title: Re: destroying bitcoins Post by: Lauda on April 16, 2015, 04:35:56 AM if all citizens, start destroying it, i'm sure the printing can't match the destruction, resulting in less scam fiat in circulation Most fiat is generated through a decision of the central bank / commercial banks through fractional reserve lending.Destroying fiat isn't going to help you. It is just going to transfer value from you to the system you hate. But destroying bitcoin from the other hand has very good effect bitcoin's economy. It is just like Satoshi said: Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone. I do wonder however how does one plan on making all citizens destroy their money? Why would anyone burn the paper that they use to buy food i.e. survive? Destroying fiat doesn't do anything. Even though destroying Bitcoins might help the price, that doesn't mean that we should be destroying them. Title: Re: destroying bitcoins Post by: Dotakels on April 16, 2015, 04:41:07 AM if all citizens, start destroying it, i'm sure the printing can't match the destruction, resulting in less scam fiat in circulation Most fiat is generated through a decision of the central bank / commercial banks through fractional reserve lending.Destroying fiat isn't going to help you. It is just going to transfer value from you to the system you hate. But destroying bitcoin from the other hand has very good effect bitcoin's economy. It is just like Satoshi said: Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone. I do wonder however how does one plan on making all citizens destroy their money? Why would anyone burn the paper that they use to buy food i.e. survive? Destroying fiat doesn't do anything. Even though destroying Bitcoins might help the price, that doesn't mean that we should be destroying them. Title: Re: destroying bitcoins Post by: Amph on April 16, 2015, 07:35:42 AM if all citizens, start destroying it, i'm sure the printing can't match the destruction, resulting in less scam fiat in circulation Most fiat is generated through a decision of the central bank / commercial banks through fractional reserve lending. Destroying fiat isn't going to help you. It is just going to transfer value from you to the system you hate. But destroying bitcoin from the other hand has very good effect bitcoin's economy. It is just like Satoshi said: Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone. it is the same actually, if you destroy your own money, does not matter if it is bitcoin or fiat, if you destroy your fiat you will get poorer, and if you destroy your bitcoin you will get poorer as well, the ony difference is that with the latter, you will enrich others Title: Re: destroying bitcoins Post by: btc_enigma on April 16, 2015, 11:19:04 AM What a waste of bitcoin. Send me instead , I will keep it for you while the price goes up
Title: Re: destroying bitcoins Post by: BTCevo on April 17, 2015, 08:52:31 AM What's the point of destroying it? I think its just make the bitcoin become rare and then people will start to find it again and again plus the price when will be higher than before. It is just a natural law so better keep it rather than destroying it
Title: Re: destroying bitcoins Post by: Bubbsandbubbs3 on April 18, 2015, 06:44:09 PM Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins. I admire the initiative and have considered this myself, but you are not going to raise the price significantly unless you have a couple thousand people.Destroying some bitcoins can have a serious positive impact on the price If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies. But every satoshi could help a bit... This is the best way to support bitcoin The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven? :D ) 1BitcoinEaterAddressDontSendf59kuE please don't send any more bitcoins to the address posted here before) People who helped destroy bitcoins to raise the btc-price: leen93 : 10.000 satoshis FIRST GOAL TO REACH : 100.000 satoshi Title: Re: destroying bitcoins Post by: 1Referee on April 18, 2015, 07:55:05 PM Only dumb people destroy capital. It just doesn't make sense to burn your money while you paid or did a lot effort just to get it.
Title: Re: destroying bitcoins Post by: Natalia_AnatolioPAMM on April 18, 2015, 09:30:05 PM Only dumb people destroy capital. It just doesn't make sense to burn your money while you paid or did a lot effort just to get it. sure. 100% agreed! burning money ,thats stupid Title: Re: destroying bitcoins Post by: unholycactus on April 18, 2015, 09:31:01 PM I suppose it's a good thing that this can't possibly be illegal to do as opposed to destroying fiat.
Title: Re: destroying bitcoins Post by: Gyfts on April 18, 2015, 09:51:33 PM This is so counter productive. What you're doing here is wasting money. There is absolutely no way you could get enough Bitcoin to destroy that would have a notable affect on the price.
Title: Re: destroying bitcoins Post by: leen93 on April 18, 2015, 10:01:37 PM This is so counter productive. What you're doing here is wasting money. There is absolutely no way you could get enough Bitcoin to destroy that would have a notable affect on the price. if enough people would be doing it it would but seems not. Due to the large amount of useless spam posts I'll close this topic but feel free to keep destroying your bitcoins. |