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Title: Destroying bitcoin, by coin, by coin... Post by: Coins are Gone on July 06, 2011, 05:06:05 PM I am an IT specialist at a medium sized european insurance company. Not in the large datacenters or anything, just a smallish dependance. We're with only two people in my department and we work together so basically we can do with the computers at our disposal what we want.
Including installing and running bitcoin miners :) Good for you! You might think. Nice bitcoins for us, ready to spend or trade on an exchange or whatever and it doesn't cost us anything! Other than a few lost hours reading into bitcoin and then registering for a pool and setting up some miners. But. We're not in this for the money. The ideal is what matters to us, the idea behind bitcoin, the potential it has and what it could same day become. The problem is, we don't believe in that. We both feel bitcoin is an incredibly silly idea, a waste of resources (spare me the irony, we're aware of it) and a concept that is doomed to fail. So, we destroy every coin we mine. It's amazing how much effort it takes PC's to create a bitcoin yet how easily they can be destroyed. It litterally takes us no more than a minute every week. Delete the wallet.dat and create a fresh one and another 5 coins or so are gone forever :) Miner is running on 12 PC's at the moment, total hashing power close to 700 Mhash. Next week it's time roll it out on the other 40 machines. Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! :) Title: Re: Destroying bitcoin, by coin, by coin... Post by: xunker on July 06, 2011, 05:10:30 PM Public Service Notice: Please don't feed the trolls.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Man From The Future on July 06, 2011, 05:10:55 PM If you're serious... epic fail, you just make everyone else's coisn more valuable :D (And bitcoin can be modified for greater divisibility, so that's not an issue...)
Otherwise, go away, troll. Title: Re: Destroying bitcoin, by coin, by coin... Post by: ColdHardMetal on July 06, 2011, 05:14:31 PM Thanks! I support your initiative.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Coins are Gone on July 06, 2011, 05:14:43 PM If you're serious... epic fail, you just make everyone else's coisn more valuable :D We are aware of that. We have no problem with helping other people get rich. You can thank us for our "donation" by destroying a few bitcoins :) Quote (And bitcoin can be modified for greater divisibility, so that's not an issue...) That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. So every coin destroyed is a small step :) Title: Re: Destroying bitcoin, by coin, by coin... Post by: Vladimir on July 06, 2011, 05:15:32 PM Great Idea! Do it!
Title: Re: Destroying bitcoin, by coin, by coin... Post by: kokjo on July 06, 2011, 05:16:49 PM Thanks! I support your initiative. me too +1Title: Re: Destroying bitcoin, by coin, by coin... Post by: Agozyen on July 06, 2011, 05:19:17 PM Thank you for making my coins more valuable!
Secondly, why are you opposed to bitcoins? What else are you opposed to that you take such decisive action on? What I mean is, if you don't like cats, do you kill every cat you see? Title: Re: Destroying bitcoin, by coin, by coin... Post by: XonX on July 06, 2011, 05:20:15 PM You should try burning Euros. That's fun too.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: lulzplzkthx on July 06, 2011, 05:20:33 PM Destroy more!
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Man From The Future on July 06, 2011, 05:21:17 PM If you're serious... epic fail, you just make everyone else's coisn more valuable :D We are aware of that. We have no problem with helping other people get rich. You can thank us for our "donation" by destroying a few bitcoins :) Quote (And bitcoin can be modified for greater divisibility, so that's not an issue...) That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. So every coin destroyed is a small step :) Title: Re: Destroying bitcoin, by coin, by coin... Post by: LK- on July 06, 2011, 05:21:52 PM I agree with this. We need to make 1BTC worth 100USD. Now.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: NghtRppr on July 06, 2011, 05:22:57 PM That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. If you make all other BTC worth more and they are divided up into smaller pieces, the net result is no change long-term. You're not hurting anything. You're only helping us out in the short-term. Also, if Bitcoin is a "concept that is doomed to fail" then why are you even wasting your time? It'll fail anyways. I guess you don't really believe that then, do you? Title: Re: Destroying bitcoin, by coin, by coin... Post by: Coins are Gone on July 06, 2011, 05:26:08 PM Thank you for making my coins more valuable! You're welcome! :D Quote Secondly, why are you opposed to bitcoins? Oh my, there's a ton of reasons, all of which I am sure you've read here on the forums before so I think it'd be kinda boring to discuss here. Just a small list if you insist (if you like my rhymes, please sestroy a bitcoin for donation! ;): - The deflatory nature of bitcoin is an inherent flaw making the principle useless - Bitcoin is a speculative bubble, has no real value and will cause many people to lose the money they invested - The whole concept is too geeky (and yes, we're geeks too, but still) to become ever widely adopted - It is a pyramid scheme and the only ones benefiting are the early adoptors and they will laugh at you when they cash and pull out - It's a botnet-hack waiting to happen - Instances like MtGox deciding to perform rollbacks show that the principle ideal was already raped - and so on... Quote What else are you opposed to that you take such decisive action on? What I mean is, if you don't like cats, do you kill every cat you see? Jesus christ, killing cats? That is... disturbed. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Vladimir on July 06, 2011, 05:27:39 PM I am wondering is it someone's alter ego pulling our collective leg here or is he for real?
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Agozyen on July 06, 2011, 05:28:22 PM You know what's funny, assuming this guy is telling the truth (I don't believe he is) he is setting himself up for a massive failure. Since he is mining on his company's hardware, those bitcoins belong to the company. If his employer ever finds out he will most likely be fired. Also, wouldn't the company be within its rights to ask for the value of those bitcoins back? If bitcoins shoot up in value he could be liable for quite a sum.
lol Title: Re: Destroying bitcoin, by coin, by coin... Post by: Coins are Gone on July 06, 2011, 05:31:09 PM That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. If you make all other BTC worth more and they are divided up into smaller pieces, the net result is no change long-term. You're not hurting anything. You're only helping us out in the short-term. Ok. Have 10 people and 10 pies. We give everyone a pie. Now 8 pies get lost. Some get eaten, one pie was encrypted and the key got lost, another one's fridge was hacked and his pie deleted, a pie was dropped on the floor, etc etc. We divide every remaining pie into 10 pieces. One guy didn't lose his pie, he gets to keep all 10 pieces. The other 10 pieces are divided evenly over the other 9 people and piece gets destroyed by me, just cos I can. And pie makes me fat. We have 10 times as many "items of pie". We performed a digit shift on the pie basically... Yet now one guy has half of all items of pie available, while he only had 1/10 earlier. Still think shifting the digit will solve bitcoins getting lost? ;) Title: Re: Destroying bitcoin, by coin, by coin... Post by: Coins are Gone on July 06, 2011, 05:32:15 PM You know what's funny, assuming this guy is telling the truth (I don't believe he is) he is setting himself up for a massive failure. Since he is mining on his company's hardware, those bitcoins belong to the company. If his employer ever finds out he will most likely be fired. Also, wouldn't the company be within its rights to ask for the value of those bitcoins back? If bitcoins shoot up in value he could be liable for quite a sum. lol Me getting fired over this is about as likely as bitcoin becoming adopted by the masses. I'm not worried much ;) Title: Re: Destroying bitcoin, by coin, by coin... Post by: EskimoBob on July 06, 2011, 05:38:11 PM Forget it, I take back my invitation. You have no PC for mining. You are just having fun :)
Cheers and welcome to bitcoin bubble. Title: Re: Destroying bitcoin, by coin, by coin... Post by: XonX on July 06, 2011, 05:40:13 PM Still think shifting the digit will solve bitcoins getting lost? ;) Well, yes. Yes, I do. Title: Re: Destroying bitcoin, by coin, by coin... Post by: bitplane on July 06, 2011, 05:40:44 PM Prove it, troll. Send your coins to the bitcoin eater instead of burning wallets:
http://blockexplorer.com/address/1BitcoinEaterAddressDontSendf59kuE Title: Re: Destroying bitcoin, by coin, by coin... Post by: Coins are Gone on July 06, 2011, 05:41:03 PM Forget it, I take back my invitation. You have no PC for mining. You are just having fun :) Cheers and welcome to bitcoin bubble. Like we'd go hash for some small pool... We're at deepbit, helping them gain >50%. Title: Re: Destroying bitcoin, by coin, by coin... Post by: lolcat on July 06, 2011, 05:43:31 PM Feels good to delete nearly 100BTC :D
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Vladimir on July 06, 2011, 05:44:34 PM Come on guys, It is Satoshi feeling a bit whimsical today. Can't you tell? ::)
Title: Re: Destroying bitcoin, by coin, by coin... Post by: EskimoBob on July 06, 2011, 05:44:36 PM Forget it, I take back my invitation. You have no PC for mining. You are just having fun :) Cheers and welcome to bitcoin bubble. Like we'd go hash for some small pool... We're at deepbit, helping them gain >50%. LOL, you have no idea what you are talking about. Sorry mate. Enjoy your ride. Title: Re: Destroying bitcoin, by coin, by coin... Post by: BombaUcigasa on July 06, 2011, 05:45:16 PM It's amazing how much effort it takes PC's to create a bitcoin yet how easily they can be destroyed. Yes, it is cheaper to destroy something than to create it. Do whatever you want with someone else's resources, you're only biological lifeforms, you are created to destroy other things, but do be careful, you might fall for your own trick.Title: Re: Destroying bitcoin, by coin, by coin... Post by: SgtSpike on July 06, 2011, 05:46:44 PM Prove it, troll. Send your coins to the bitcoin eater instead of burning wallets: This.http://blockexplorer.com/address/1BitcoinEaterAddressDontSendf59kuE OP is full of smoke. He's not mining, and he's not destroying coins. It's someone on this forum who has registered a second profile for the simple purpose of trying to get a rise out of us. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Coins are Gone on July 06, 2011, 05:49:40 PM Prove it, troll. Send your coins to the bitcoin eater instead of burning wallets: http://blockexplorer.com/address/1BitcoinEaterAddressDontSendf59kuE :D I didn't know that existed. It'd be much cooler to make my own adress of course and send it to that. I will do so next monday. (I already have weekend. I don't just destroy bitcoins, I live the easy life too! :P ) Title: Re: Destroying bitcoin, by coin, by coin... Post by: Coins are Gone on July 06, 2011, 05:51:20 PM As pointed out by others, your method and your goals aren't aligned. Basic arithmetic doesn't seem to be your forte, apparently. I'm wondering how you managed to get hired into a large insurer's IT departement when the concept of division is too complex for you to grasp. Awww, personal flames. Very cute. :) You should thank me for making YOUR coins a bit more valuable every week, not flame me. But whatever makes you happy :D Title: Re: Destroying bitcoin, by coin, by coin... Post by: Gabi on July 06, 2011, 05:51:42 PM Wow, thank you guys
For every coin you destroy, mine are worth MORE so, thank you! Title: Re: Destroying bitcoin, by coin, by coin... Post by: bitfreak! on July 06, 2011, 06:01:25 PM So how many coins have you destroyed so far OP? You'd need to destroy more than 65000 to even destroy 1% of all the coins currently existing. Considering the value of each bitcoin, I highly doubt you'll convince many people to destroy bitcoins. Not to mention, you'll be long dead before all the bitcoins are ever created. :) <- sarcastically annoying docile smile
Title: Re: Destroying bitcoin, by coin, by coin... Post by: NghtRppr on July 06, 2011, 06:16:36 PM Ok. Have 10 people and 10 pies. We give everyone a pie. Now 8 pies get lost. Some get eaten, one pie was encrypted and the key got lost, another one's fridge was hacked and his pie deleted, a pie was dropped on the floor, etc etc. We divide every remaining pie into 10 pieces. One guy didn't lose his pie, he gets to keep all 10 pieces. The other 10 pieces are divided evenly over the other 9 people and piece gets destroyed by me, just cos I can. And pie makes me fat. We have 10 times as many "items of pie". We performed a digit shift on the pie basically... Yet now one guy has half of all items of pie available, while he only had 1/10 earlier. Still think shifting the digit will solve bitcoins getting lost? ;) You missed one thing. Since the remaining BTC are more valuable it's similar to making the remaining pies bigger. Those 8 pies that get lost are actually causing the remaining pies to get bigger. The pies have to get divided up into more pieces but the pieces themselves are bigger so everyone ends up with the same amount of pie as before. You've done nothing in the long-term. Title: Re: Destroying bitcoin, by coin, by coin... Post by: V4Vendettas on July 06, 2011, 06:44:12 PM Crack on goony keep up the good work.
Also thanks Title: Re: Destroying bitcoin, by coin, by coin... Post by: ryepdx on July 06, 2011, 06:57:37 PM Wow. Given that you are mining with 12 machines and only getting 700Mh/s, you're mining REALLY inefficiently. At 52 machines you'll only be pulling about 3Gh/s, assuming your Mh/s scales linearly. By contrast, I'm only using 5 machines and pulling about 10Gh/s.
This is you: http://i53.tinypic.com/2u4t06b.jpg And it makes me laugh. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Rob P. on July 06, 2011, 07:48:41 PM I tried to resist feeding the Troll. I can't.
1) You cannot destroy Bitcoins, you can only lose them (and they CAN be found, albeit with difficulty) 2) With 700Mhash/sec, you're no where close to causing any real harm, you're losing what? 52 coins a year? Who cares, there are 21,000,000. 3) Every coin you lose, increases the value of the coins left in the network. I applaud your efforts. 4) You are INCREASING the liklihood that coins will be found by deleting your wallet.dat; because you're increasing the number of addresses that have lost coins on them. You'd be better off having all of your miners send them to a single address who's wallet.dat you've already erased, just saying. Welcome to Bitcoin. Title: Re: Destroying bitcoin, by coin, by coin... Post by: XonX on July 06, 2011, 08:27:02 PM 1) You cannot destroy Bitcoins, you can only lose them (and they CAN be found, albeit with difficulty) Uhh... Could you please give some info about finding lost bitcoins? Title: Re: Destroying bitcoin, by coin, by coin... Post by: SgtSpike on July 06, 2011, 08:28:52 PM 1) You cannot destroy Bitcoins, you can only lose them (and they CAN be found, albeit with difficulty) Uhh... Could you please give some info about finding lost bitcoins? Title: Re: Destroying bitcoin, by coin, by coin... Post by: XonX on July 06, 2011, 08:36:43 PM 1) You cannot destroy Bitcoins, you can only lose them (and they CAN be found, albeit with difficulty) Uhh... Could you please give some info about finding lost bitcoins? Oh. I see. Well, it would be nice to know the theory though. Title: Re: Destroying bitcoin, by coin, by coin... Post by: 1MLyg5WVFSMifFjkrZiyGW2nw on July 06, 2011, 08:45:50 PM It would take billions of years of utilizing the entire GPU force we have mining bitcoins to do it. I wouldn't count on finding any lost coins anytime soon. Oh. I see. Well, it would be nice to know the theory though. Bitcoin addresses do not get "reserved" when they are generated, it is just astronomically unlikely to generate one that has been used before. In theory, you could keep generating new addresses until you hit one that has coins in it, but as SgtSpike said this would be much more difficult than finding valid blocks. Title: Re: Destroying bitcoin, by coin, by coin... Post by: XonX on July 06, 2011, 08:52:46 PM Bitcoin addresses do not get "reserved" when they are generated, it is just astronomically unlikely to generate one that has been used before. In theory, you could keep generating new addresses until you hit one that has coins in it, but as SgtSpike said this would be much more difficult than finding valid blocks. Huh... So, technically, it is possible to get into any ones wallet like that? That's fun) Title: Re: Destroying bitcoin, by coin, by coin... Post by: SgtSpike on July 06, 2011, 09:02:01 PM Bitcoin addresses do not get "reserved" when they are generated, it is just astronomically unlikely to generate one that has been used before. In theory, you could keep generating new addresses until you hit one that has coins in it, but as SgtSpike said this would be much more difficult than finding valid blocks. Huh... So, technically, it is possible to get into any ones wallet like that? That's fun) I think someone mentioned in another thread that the possibility of finding a previously used address with running the calculations on a 5870 was equal to the possibility of a person winning the lottery 100 days in a row. Basically, it will NEVER happen. Title: Re: Destroying bitcoin, by coin, by coin... Post by: enmaku on July 06, 2011, 09:04:39 PM Bitcoin addresses do not get "reserved" when they are generated, it is just astronomically unlikely to generate one that has been used before. In theory, you could keep generating new addresses until you hit one that has coins in it, but as SgtSpike said this would be much more difficult than finding valid blocks. Huh... So, technically, it is possible to get into any ones wallet like that? That's fun) It's also technically possible for me to call your bank, guess your account number, guess your social security or other credentials, guess the right answer(s) to the security question(s) they ask, etc. Guessing your keypair/address is no different. It can be done, it's just so astronomically unlikely that you'll guess correctly that even at GPU speeds you'll be guessing for longer than the coins are likely to stay in that wallet (read: longer than I, and several generations of my descendants am/are likely to live). Title: Re: Destroying bitcoin, by coin, by coin... Post by: noob_jul11 on July 06, 2011, 09:15:36 PM I would love the experience of destroying bitcoins. Do me a favor, send me all your bitcoins and I will help you destroy them. Address at the bottom ...
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Stiletto on July 06, 2011, 09:24:29 PM Quote Alfred Pennyworth: A long time ago, I was in Burma, my friends and I were working for the local government. They were trying to buy the loyalty of tribal leaders by bribing them with precious stones. But their caravans were being raided in a forest north of Rangoon by a bandit. So we went looking for the stones. But in six months, we never found anyone who traded with him. One day I saw a child playing with a ruby the size of a tangerine. The bandit had been throwing them away. Bruce Wayne: Then why steal them? Alfred Pennyworth: Because he thought it was good sport. Because some men aren't looking for anything logical, like money. They can't be bought, bullied, reasoned or negotiated with. Some men just want to watch the world burn. So you're just an anarchist that likes destroying what other people labor to create. Pretty indicative of someone who has no skill or ability to create value on their own. Title: Re: Destroying bitcoin, by coin, by coin... Post by: c00w on July 06, 2011, 10:53:42 PM Sounds like a great idea!
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Coineer on July 06, 2011, 11:10:18 PM ...how easily they can be destroyed. It litterally takes us no more than a minute every week... I am shocked... at the fact that it takes a minute to delete a file, lol. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Kanti on July 06, 2011, 11:18:58 PM The 20 seconds or so it takes to bootup my PC drives me nuts. No way in hell I'd sit around for a minute to destroy something that has no meaning to me. This guy is obviously either trolling, or a poor worker with too much time on his hands (that his company is paying for). I must admit, it would be pretty funny to see this guy explain his way out of crap if/when he gets caught utilizing massive co. resources for personal use (profit or not, the company would still be pissed).
Then again, the guy could be like me and have the skill-set to smooth talk his way out of anything, but it's more fun to contemplate his demise over something so trivial. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Rob P. on July 06, 2011, 11:29:56 PM 1) You cannot destroy Bitcoins, you can only lose them (and they CAN be found, albeit with difficulty) Uhh... Could you please give some info about finding lost bitcoins? Sure. Whenever your bitcoin client creates a new address, it randomly creates a public/private keypair of one of the 2^160 possible addresses. If (and it's a HUGE if, with a VERY low probability, but it's not ZERO) you create a public/private keypair that someone else has already created, you'll have access to the coins in that address in the block chain. Elsewhere in the forum someone was working on a program that would generate approximately 80,000 bitcoin addresses per second. At that rate you can create 80,000 * 31536000 (seconds/year) = 2,522,880,000,000 (2.5 Trillion) addresses a year. However, you'd have to run that for 5.7929891129617856×10^35 years, to exhaust all of the address space. And of course, you'd have to have a client that could handle that many addresses, which I doubt the default client can do. So, you'd have to come up with a way to check them all in the block chain to see if they are valid, which would slow down your rate. It's a big number. So, the odds of two people colliding with the same address are astronomically tiny. You'd be better off using vanity ID creation code to try to create a specific address, at least then if/when you found it, you'd know it. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Einewton on July 06, 2011, 11:33:34 PM Send me the BitCoin and i'll destroy it for you.. LOL!
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Nicolai Larsen on July 07, 2011, 12:38:01 AM 12 rigs = 750 Mhash/s?
Ain't that pretty sucky? Title: Re: Destroying bitcoin, by coin, by coin... Post by: Jaime Frontero on July 07, 2011, 01:22:39 AM what a bunch of hogwash.
Quote It litterally takes us no more than a minute every week. Delete the wallet.dat and create a fresh one and another 5 coins or so are gone forever you don't get 5BTC/week with 700 Mh/sec. and: Miner is running on 12 PC's at the moment, total hashing power close to 700 Mhash. there isn't a "medium sized insurance company" on earth, european or otherwise, that has desktops capable of 58 Mh/sec (700/12). they all have integrated video on the motherboard, and it's doubtful any business-class desktop will generate 10 Mh/sec. i've got a quad-core Athlon that gets 10. an average business-class machine will probably get about five-seven. it might have been slightly believable if the business was claimed to be an animation studio or something. but an insurance office? bullshit. Title: Re: Destroying bitcoin, by coin, by coin... Post by: noob_jul11 on July 07, 2011, 08:50:59 PM When will someone send me some bitcoins so I can experience the joy of destroy them?
Title: Re: Destroying bitcoin, by coin, by coin... Post by: nighteyes on July 07, 2011, 10:02:11 PM The OP can apparently short-sell the bitcoin and put his money where his mouth is.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: SimplePanda on July 07, 2011, 10:49:12 PM Title: Re: Destroying bitcoin, by coin, by coin... Post by: Sp3rm on July 07, 2011, 11:51:53 PM I still don't understand the math.
If there are 10 pies and 8 are lost, why would you divide the 2 remaining pies? Why would only pie holder #1 get to keep his pie and pie holder #2 has to give his up. By the way. Which insurance company do you work for? Title: Re: Destroying bitcoin, by coin, by coin... Post by: SgtSpike on July 07, 2011, 11:53:26 PM I still don't understand the math. Neither has to give up his pies. What are you talking about?If there are 10 pies and 8 are lost, why would you divide the 2 remaining pies? Why would only pie holder #1 get to keep his pie and pie holder #2 has to give his up. By the way. Which insurance company do you work for? Title: Re: Destroying bitcoin, by coin, by coin... Post by: Raoul Duke on July 08, 2011, 12:04:42 AM By the way. Which insurance company do you work for? He doesn't work for an insurance company. And here's why: Insurance companies are very keen to keep their expenses very low, so, even those 12 computers mining 24/7 would raise their electricity bill so much that they would look very well to find out where it was being spent. Only 1 month of mining would be enough for the OP and his "partner" to be already working for "social security"(unemployed), not for an insurance company ::) Title: Re: Destroying bitcoin, by coin, by coin... Post by: Sp3rm on July 08, 2011, 12:11:41 AM I still don't understand the math. Neither has to give up his pies. What are you talking about?If there are 10 pies and 8 are lost, why would you divide the 2 remaining pies? Why would only pie holder #1 get to keep his pie and pie holder #2 has to give his up. By the way. Which insurance company do you work for? That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. If you make all other BTC worth more and they are divided up into smaller pieces, the net result is no change long-term. You're not hurting anything. You're only helping us out in the short-term. Ok. Have 10 people and 10 pies. We give everyone a pie. Now 8 pies get lost. Some get eaten, one pie was encrypted and the key got lost, another one's fridge was hacked and his pie deleted, a pie was dropped on the floor, etc etc. We divide every remaining pie into 10 pieces. One guy didn't lose his pie, he gets to keep all 10 pieces. The other 10 pieces are divided evenly over the other 9 people and piece gets destroyed by me, just cos I can. And pie makes me fat. We have 10 times as many "items of pie". We performed a digit shift on the pie basically... Yet now one guy has half of all items of pie available, while he only had 1/10 earlier. Still think shifting the digit will solve bitcoins getting lost? ;) So one guy gets to keep his pie. Why? Insurance? Why would the other guy only get 1/10th of his pie? No Insurance? Title: Re: Destroying bitcoin, by coin, by coin... Post by: Sp3rm on July 08, 2011, 12:17:17 AM By the way. Which insurance company do you work for? He doesn't work for an insurance company. And here's why: Insurance companies are very keen to keep their expenses very low, so, even those 12 computers mining 24/7 would raise their electricity bill so much that they would look very well to find out where it was being spent. Only 1 month of mining would be enough for the OP and his "partner" to be already working for "social security"(unemployed), not for an insurance company ::) You're not helping to liven up the discussion by being sensible. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Raoul Duke on July 08, 2011, 12:24:22 AM By the way. Which insurance company do you work for? He doesn't work for an insurance company. And here's why: Insurance companies are very keen to keep their expenses very low, so, even those 12 computers mining 24/7 would raise their electricity bill so much that they would look very well to find out where it was being spent. Only 1 month of mining would be enough for the OP and his "partner" to be already working for "social security"(unemployed), not for an insurance company ::) You're not helping to liven up the discussion by being sensible. Sorry for ruining the fun for the rest of you :D Title: Re: Destroying bitcoin, by coin, by coin... Post by: MoonShadow on July 08, 2011, 12:33:45 AM You'd actually be much better off trying to reverse-engineer (factor) the private elliptic key from the public one: there are methods that are slightly faster than brute-forcing it the way you describe. However: IMO still completely unfeasible with current technology, and being able to do that would, for obvious reasons, signify the end of bitcoin. No, it wouldn't. It would only signify the end of using that particular type of public/private cryptographic signature. Bitcoin is modular, the encryption methods in use can be replaced. Title: Re: Destroying bitcoin, by coin, by coin... Post by: SgtSpike on July 08, 2011, 12:39:00 AM I still don't understand the math. Neither has to give up his pies. What are you talking about?If there are 10 pies and 8 are lost, why would you divide the 2 remaining pies? Why would only pie holder #1 get to keep his pie and pie holder #2 has to give his up. By the way. Which insurance company do you work for? That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. If you make all other BTC worth more and they are divided up into smaller pieces, the net result is no change long-term. You're not hurting anything. You're only helping us out in the short-term. Ok. Have 10 people and 10 pies. We give everyone a pie. Now 8 pies get lost. Some get eaten, one pie was encrypted and the key got lost, another one's fridge was hacked and his pie deleted, a pie was dropped on the floor, etc etc. We divide every remaining pie into 10 pieces. One guy didn't lose his pie, he gets to keep all 10 pieces. The other 10 pieces are divided evenly over the other 9 people and piece gets destroyed by me, just cos I can. And pie makes me fat. We have 10 times as many "items of pie". We performed a digit shift on the pie basically... Yet now one guy has half of all items of pie available, while he only had 1/10 earlier. Still think shifting the digit will solve bitcoins getting lost? ;) So one guy gets to keep his pie. Why? Insurance? Why would the other guy only get 1/10th of his pie? No Insurance? "just cos I can. And pie makes me fat." It was a volunteer split of one of the two last pies. Neither one is forced to give up any of his pie. Both pies are worth 5x as they were previously. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Sp3rm on July 08, 2011, 01:27:44 AM I still don't understand the math. Neither has to give up his pies. What are you talking about?If there are 10 pies and 8 are lost, why would you divide the 2 remaining pies? Why would only pie holder #1 get to keep his pie and pie holder #2 has to give his up. By the way. Which insurance company do you work for? That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. If you make all other BTC worth more and they are divided up into smaller pieces, the net result is no change long-term. You're not hurting anything. You're only helping us out in the short-term. Ok. Have 10 people and 10 pies. We give everyone a pie. Now 8 pies get lost. Some get eaten, one pie was encrypted and the key got lost, another one's fridge was hacked and his pie deleted, a pie was dropped on the floor, etc etc. We divide every remaining pie into 10 pieces. One guy didn't lose his pie, he gets to keep all 10 pieces. The other 10 pieces are divided evenly over the other 9 people and piece gets destroyed by me, just cos I can. And pie makes me fat. We have 10 times as many "items of pie". We performed a digit shift on the pie basically... Yet now one guy has half of all items of pie available, while he only had 1/10 earlier. Still think shifting the digit will solve bitcoins getting lost? ;) So one guy gets to keep his pie. Why? Insurance? Why would the other guy only get 1/10th of his pie? No Insurance? "just cos I can. And pie makes me fat." It was a volunteer split of one of the two last pies. Neither one is forced to give up any of his pie. Both pies are worth 5x as they were previously. But it really never happened. Title: Re: Destroying bitcoin, by coin, by coin... Post by: drrussellshane on July 08, 2011, 01:31:20 AM So the pie story was all a big lie? ???
;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: Sp3rm on July 08, 2011, 01:47:05 AM So the pie story was all a big lie? ??? ;D I'm sorry to report that pie stocks have been depressed. We're expecting a rebound in pie stock prices some time soon. Your local bakery will post notices in the store window. Title: Re: Destroying bitcoin, by coin, by coin... Post by: ottoxgam on July 08, 2011, 02:24:54 AM Why wouldn't you cash out on what you're doing and possibly buy more pcs/equiptment? I'm an IT guy for a local church/school and they have around 97 stations on campus. I brought up the idea of using the pcs to mine after everyone goes home. I have a script set up to log on to an account. A startup script runs the miner and gets around .7Btc a night. Once we get enough, we're cashing out to get couple gigabit switches.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Sp3rm on July 08, 2011, 02:38:08 AM Why wouldn't you cash out on what you're doing and possibly buy more pcs/equiptment? I'm an IT guy for a local church/school and they have around 97 stations on campus. I brought up the idea of using the pcs to mine after everyone goes home. I have a script set up to log on to an account. A startup script runs the miner and gets around .7Btc a night. Once we get enough, we're cashing out to get couple gigabit switches. Church/School I think you took a wrong turn on the internets. Are you on the Board of Directors? Title: Re: Destroying bitcoin, by coin, by coin... Post by: NYConsultant on July 09, 2011, 05:28:17 AM Why wouldn't you cash out on what you're doing and possibly buy more pcs/equiptment? I'm an IT guy for a local church/school and they have around 97 stations on campus. I brought up the idea of using the pcs to mine after everyone goes home. I have a script set up to log on to an account. A startup script runs the miner and gets around .7Btc a night. Once we get enough, we're cashing out to get couple gigabit switches. Church/School I think you took a wrong turn on the internets. Are you on the Board of Directors? Lol ;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: Pengboo on July 09, 2011, 06:16:57 AM Oh my, there's a ton of reasons, all of which I am sure you've read here on the forums before so I think it'd be kinda boring to discuss here. Just a small list if you insist [...] - The Bitcoin currency requires more energy (electricity/buying new hardware/spending real money) for what we get in return.Title: Re: Destroying bitcoin, by coin, by coin... Post by: ottoxgam on July 09, 2011, 06:22:22 AM Why wouldn't you cash out on what you're doing and possibly buy more pcs/equiptment? I'm an IT guy for a local church/school and they have around 97 stations on campus. I brought up the idea of using the pcs to mine after everyone goes home. I have a script set up to log on to an account. A startup script runs the miner and gets around .7Btc a night. Once we get enough, we're cashing out to get couple gigabit switches. Church/School I think you took a wrong turn on the internets. Are you on the Board of Directors? Lol ;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: wolf902 on July 09, 2011, 06:25:27 AM This thread personaly scares me.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: MtRev on July 09, 2011, 06:46:50 AM Why in the world would you mine bitcoins only to delete your wallet? I would be loading up and selling for the loot lol
Title: Re: Destroying bitcoin, by coin, by coin... Post by: wolf902 on July 09, 2011, 07:34:24 AM Why in the world would you mine bitcoins only to delete your wallet? I would be loading up and selling for the loot lol You are loosing out. You could have thousands if you did not destroy them Title: Re: Destroying bitcoin, by coin, by coin... Post by: saykor on July 09, 2011, 08:08:40 AM Hi,
I want to join in your cause but I not have enough hardware. Can you send me a some video cards to make more fast a more coins that will be destroyed. If you want to help me please send me a pm. Title: Re: Destroying bitcoin, by coin, by coin... Post by: MtRev on July 09, 2011, 08:23:04 AM Hi, I want to join in your cause but I not have enough hardware. Can you send me a some video cards to make more fast a more coins that will be destroyed. If you want to help me please send me a pm. ROFL! Title: Re: Destroying bitcoin, by coin, by coin... Post by: ciore on July 09, 2011, 08:58:18 AM Hi, I want to join in your cause but I not have enough hardware. Can you send me a some video cards to make more fast a more coins that will be destroyed. If you want to help me please send me a pm. I want to join too!! please send me some video cards too!!! 8) Title: Re: Destroying bitcoin, by coin, by coin... Post by: anu on July 09, 2011, 01:50:52 PM Miner is running on 12 PC's at the moment, total hashing power close to 700 Mhash. Next week it's time roll it out on the other 40 machines. Oh my - I got almost twice on *one* box. No wonder you're so pissed about wasting ressources. Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! :) I got an even better idea: You send me your wallets and I keep them. Promise, I won't sell the BTC until Bitcoin is a wild success. Which, according to you, is not going to happen. Cheers Anu Title: Re: Destroying bitcoin, by coin, by coin... Post by: RandyFolds on July 10, 2011, 05:25:55 AM By the way. Which insurance company do you work for? He doesn't work for an insurance company. And here's why: Insurance companies are very keen to keep their expenses very low, so, even those 12 computers mining 24/7 would raise their electricity bill so much that they would look very well to find out where it was being spent. Only 1 month of mining would be enough for the OP and his "partner" to be already working for "social security"(unemployed), not for an insurance company ::) You're not helping to liven up the discussion by being sensible. Sorry for ruining the fun for the rest of you :D I'm sorry I had a fight in the middle of your Black Panther party. Title: Re: Destroying bitcoin, by coin, by coin... Post by: solovay on July 10, 2011, 07:21:04 AM Oh my, there's a ton of reasons, all of which I am sure you've read here on the forums before so I think it'd be kinda boring to discuss here. Just a small list if you insist (if you like my rhymes, please sestroy a bitcoin for donation! ;): - The deflatory nature of bitcoin is an inherent flaw making the principle useless - Bitcoin is a speculative bubble, has no real value and will cause many people to lose the money they invested - The whole concept is too geeky (and yes, we're geeks too, but still) to become ever widely adopted - It is a pyramid scheme and the only ones benefiting are the early adoptors and they will laugh at you when they cash and pull out - It's a botnet-hack waiting to happen - Instances like MtGox deciding to perform rollbacks show that the principle ideal was already raped - and so on... Thanks for this list of anti-bitcoin reasons. Food for thought. Title: Re: Destroying bitcoin, by coin, by coin... Post by: solovay on July 10, 2011, 07:25:23 AM In my immediately previous post I mangled the quoting mechanism. The first two paragraphs are quotes from the message by "Coins Are Gone".
Title: Re: Destroying bitcoin, by coin, by coin... Post by: rnicoll on July 10, 2011, 10:20:21 AM Me getting fired over this is about as likely as bitcoin becoming adopted by the masses. I'm not worried much ;) *gets popcorn* Title: Re: Destroying bitcoin, by coin, by coin... Post by: indio007 on July 10, 2011, 10:55:14 AM FAIL
Eventually your private key will be cracked and the orphaned BTC will be reclaimed. Title: Re: Destroying bitcoin, by coin, by coin... Post by: rnicoll on July 10, 2011, 10:58:26 AM Eventually your private key will be cracked and the orphaned BTC will be reclaimed. For values of eventually that are slightly past the heat death of the universe. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Rob P. on July 10, 2011, 12:13:57 PM Oh my, there's a ton of reasons, all of which I am sure you've read here on the forums before so I think it'd be kinda boring to discuss here. Just a small list if you insist (if you like my rhymes, please sestroy a bitcoin for donation! ;): - The deflatory nature of bitcoin is an inherent flaw making the principle useless And your evidence of this is... - Bitcoin is a speculative bubble, has no real value and will cause many people to lose the money they invested It's a closed system. For every dollar lost, someone gained a dollar. The only people losing money on Bitcoins are the people who treat it as a speculative instrument. - The whole concept is too geeky (and yes, we're geeks too, but still) to become ever widely adopted Guess what else was "too geeky" only 2 years into its existence: Personal Computers. To think something as radical as Bitcoins could be brought into the mainstream within 6 months (which is really the only time period we're talking about, because the mainstream media didn't even know what Bitcoins were in January of this year) is just nuts. - It is a pyramid scheme and the only ones benefiting are the early adoptors and they will laugh at you when they cash and pull out Just making this statement shows you have no idea what a "pyramid scheme" is, so it's not even worth responding to. - It's a botnet-hack waiting to happen Such an original thought. So I guess you're going to stop using Personal Computers as well, because those have already been hacked by botnets. Why do you keep using them? - Instances like MtGox deciding to perform rollbacks show that the principle ideal was already raped Umad? Rollbacks happen in every market, go look it up. The market decided where the price should be, Mt. Gox didn't. They rolled back trades, and then the market decided where to stabilize. Sorry you didn't get to keep your $0.01 Bitcoins. Oh, and what Mt. Gox did only really affected speculators, no one who actually cares about the "principle ideal" was affected. And what Mt. Gox does has ZERO bearing on the ideals behind Bitcoin. Title: Re: Destroying bitcoin, by coin, by coin... Post by: rnicoll on July 10, 2011, 12:26:45 PM - Instances like MtGox deciding to perform rollbacks show that the principle ideal was already raped I have to admit I can't remember the last large scale rollback in a "proper" exchange, but I thought I'd link to the CBOE about their procedure for busting (undoing) trades: https://www.cboe.org/publish/InfoCir/IC10-134.pdf Title: Re: Destroying bitcoin, by coin, by coin... Post by: Rob P. on July 10, 2011, 12:35:45 PM - Instances like MtGox deciding to perform rollbacks show that the principle ideal was already raped I have to admit I can't remember the last large scale rollback in a "proper" exchange, but I thought I'd link to the CBOE about their procedure for busting (undoing) trades: https://www.cboe.org/publish/InfoCir/IC10-134.pdf From: http://www.nyse.com/technologies/tradingsolutions/1225787393155.html Under "Features" Quote Entitlements safety features including rollback mechanism Every exchange has rollback mechanisms in place to handle technical problems. Mt. Gox just didn't have them automatically executed. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Detritusx on July 10, 2011, 12:46:28 PM 2 posts to go :)
Funny that people say Bitcoin's cant be good cause it wouldnt have any real value. Reminds me of the US Dolloar wich gets printet out of Air as well. And i personaly think even the paper on wich its printed on is worth more. And to rollbacks well i rather have a clean rollback than all the crooks in Wallstreet :) cheers Title: Re: Destroying bitcoin, by coin, by coin... Post by: LeFBI on July 10, 2011, 01:22:21 PM Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! :) I sure will support you OP but instead of destroying bitcoins for good i suggest we waist our coins for fun! Join me in my quest to raise a fund for bitcoin tattoos! I'm not kidding, OP! Join me and let's waist some coins for fun here (http://forum.bitcoin.org/index.php?topic=24176.0)and here (http://forum.bitcoin.org/index.php?topic=27178.0)! Title: Re: Destroying bitcoin, by coin, by coin... Post by: XIU on July 10, 2011, 01:34:25 PM We want stats, how many BTC did you destroy already? I want to know how much more my coins are worth :p
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Nicolai Larsen on July 10, 2011, 01:35:13 PM Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! :) I sure will support you OP but instead of destroying bitcoins for good i suggest we waist our coins for fun! Join me in my quest to raise a fund for bitcoin tattoos! I'm not kidding, OP! Join me and let's waist some coins for fun here (http://forum.bitcoin.org/index.php?topic=24176.0)and here (http://forum.bitcoin.org/index.php?topic=27178.0)! I support this man! Title: Re: Destroying bitcoin, by coin, by coin... Post by: Rob P. on July 10, 2011, 02:25:54 PM We want stats, how many BTC did you destroy already? I want to know how much more my coins are worth :p +1. Just post the addresses you're destroying with links to blockexplorer. At least make it interesting for the readers. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Raoul Duke on July 10, 2011, 02:37:52 PM We want stats, how many BTC did you destroy already? I want to know how much more my coins are worth :p +1. Just post the addresses you're destroying with links to blockexplorer. At least make it interesting for the readers. LOL Trolls never present evidence ::) Title: Re: Destroying bitcoin, by coin, by coin... Post by: drrussellshane on July 10, 2011, 03:15:59 PM By the way. Which insurance company do you work for? He doesn't work for an insurance company. And here's why: Insurance companies are very keen to keep their expenses very low, so, even those 12 computers mining 24/7 would raise their electricity bill so much that they would look very well to find out where it was being spent. Only 1 month of mining would be enough for the OP and his "partner" to be already working for "social security"(unemployed), not for an insurance company ::) You're not helping to liven up the discussion by being sensible. Sorry for ruining the fun for the rest of you :D I'm sorry I had a fight in the middle of your Black Panther party. Hahaha! ;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: RandyFolds on July 10, 2011, 08:26:31 PM - Instances like MtGox deciding to perform rollbacks show that the principle ideal was already raped I have to admit I can't remember the last large scale rollback in a "proper" exchange, but I thought I'd link to the CBOE about their procedure for busting (undoing) trades: https://www.cboe.org/publish/InfoCir/IC10-134.pdf Flash Crash, homie...NYSE is pretty friggin' big. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Vladimir on July 10, 2011, 10:11:49 PM We want stats, how many BTC did you destroy already? I want to know how much more my coins are worth :p +1. Just post the addresses you're destroying with links to blockexplorer. At least make it interesting for the readers. LOL Trolls never present evidence ::) If one would like to do real damage to bitcoin, one should rent like 100 Ghps worth of hashing power and instruct the provider to send results to a 'sink' wallet. I am standing by... ;D just let me know if you wanna do this. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Reacon on July 11, 2011, 12:01:59 AM https://en.bitcoin.it/wiki/Weaknesses#Coin_destruction
Quote Coin destruction BitCoin has 8 decimals of precision, so the entire network could operate on just a handful of BitCoins. An attacker could never destroy them all. If deflation gets to the point where transactions of more than 10BC are unheard of, the client can just shift the decimal point over so that, for example, people with 0.01 BitCoins have 1.000 BitCents. This movement is a useless waste of resources and thought process. If y'all are really intent on doing something with that massive amount of computing power, do something for Folding@Home, or some other BOINC process. This thread should die here and now. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Sp3rm on July 11, 2011, 12:31:32 AM By the way. Which insurance company do you work for? He doesn't work for an insurance company. And here's why: Insurance companies are very keen to keep their expenses very low, so, even those 12 computers mining 24/7 would raise their electricity bill so much that they would look very well to find out where it was being spent. Only 1 month of mining would be enough for the OP and his "partner" to be already working for "social security"(unemployed), not for an insurance company ::) You're not helping to liven up the discussion by being sensible. Sorry for ruining the fun for the rest of you :D I'm sorry I had a fight in the middle of your Black Panther party. Hahaha! ;D Run, Forrest, Run! Title: Re: Destroying bitcoin, by coin, by coin... Post by: mrb on July 11, 2011, 08:27:56 AM Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! :) It is too late to get rid of Bitcoin. 6.8M BTC have already been mined. That's 6.8e14, or 680000 billion of the smallest divisible unit (10 nano BTC, or 0.00000001 BTC). There are about 830 billion USD (http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html) in circulation, so: 830e9/6.8e14 = 0.00122 USD Meaning that the whole USD economy could be run on Bitcoin if its smallest unit was worth only one tenth of a US cent. Same thing for the Euro, as there are only 840 billion EUR (http://www.ecb.int/stats/euro/circulation/html/index.en.html) in circulation. In fact, the whole worldwide economy could already comfortably be run on 6.8M BTC without its divisibility being an issue. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Opsamk on July 11, 2011, 09:13:46 AM If you get caught, it would be considered theft of resources such as electricity and you could get fired.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: noob_jul11 on July 11, 2011, 03:30:38 PM I would love the experience of destroying bitcoins. Do me a favor, send me all your bitcoins and I will help you destroy them. Address at the bottom ... I'm still waiting for some btc for the experience. ;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: stillmatic07 on July 11, 2011, 03:43:45 PM This isn't a half bad idea. VIVA LA BITCOIN!
Title: Re: Destroying bitcoin, by coin, by coin... Post by: SgtSpike on July 11, 2011, 05:08:59 PM On that note... I'll destroy 1 BTC for every 1 BTC donated to me! GO!
Title: Re: Destroying bitcoin, by coin, by coin... Post by: RandyFolds on July 12, 2011, 12:30:09 AM You could just devalue the currency by donating to this guy bitcoinscam.webs.com (http://bitcoinscam.webs.com) I like that guy...he just seemed...honest. Title: Re: Destroying bitcoin, by coin, by coin... Post by: deepceleron on July 12, 2011, 04:45:28 AM So, we destroy every coin we mine. Bitcoins can never be destroyed, the blockchain knows they are yours and will not forget. Like an omniscient overlord, the bitcoin network will be passing around blocks containing records of your bitcoin earnings long after you are dead. You can only choose to spend them or not. Your wallet only allows you to send them to someone else. They will be looming over you like a spectre of guilt, robbing you of your life essence, until you are destitute from your new obsession - sleeping in a cardboard box outside the loading bay of your former employer, hoping that you can get a tossed out hard drive to recover a wallet from, but alas, you will find no relief from your self-inflicted burden. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Rob P. on July 12, 2011, 07:33:59 PM You could just devalue the currency by donating to this guy bitcoinscam.webs.com (http://bitcoinscam.webs.com) I like that guy...he just seemed...honest. Not a very effective scam: http://blockexplorer.com/address/1Acg2GCjC76ni2S3QcDaYo7NTYNm5JdwKb Title: Re: Destroying bitcoin, by coin, by coin... Post by: lomax on July 12, 2011, 09:53:09 PM IT not the sharpest tools in the shed, who would have thought?
Title: Re: Destroying bitcoin, by coin, by coin... Post by: TiagoTiago on July 12, 2011, 10:02:59 PM If you got enough processing power for the coins you destroy to make any difference, there are plenty other things you could be doing instead of destroying them that would be way more effective (though i still wouldn't expect you to be able to make much more than a tiny ripple in the ocean)
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Dansker on July 01, 2012, 05:29:06 PM This turned out to be a great Idea!
No regrets, right guys? Title: Re: Destroying bitcoin, by coin, by coin... Post by: Phinnaeus Gage on July 01, 2012, 05:37:52 PM I am an IT specialist at a medium sized european insurance company. Not in the large datacenters or anything, just a smallish dependance. We're with only two people in my department and we work together so basically we can do with the computers at our disposal what we want. Including installing and running bitcoin miners :) Good for you! You might think. Nice bitcoins for us, ready to spend or trade on an exchange or whatever and it doesn't cost us anything! Other than a few lost hours reading into bitcoin and then registering for a pool and setting up some miners. But. We're not in this for the money. The ideal is what matters to us, the idea behind bitcoin, the potential it has and what it could same day become. The problem is, we don't believe in that. We both feel bitcoin is an incredibly silly idea, a waste of resources (spare me the irony, we're aware of it) and a concept that is doomed to fail. So, we destroy every coin we mine. It's amazing how much effort it takes PC's to create a bitcoin yet how easily they can be destroyed. It litterally takes us no more than a minute every week. Delete the wallet.dat and create a fresh one and another 5 coins or so are gone forever :) Miner is running on 12 PC's at the moment, total hashing power close to 700 Mhash. Next week it's time roll it out on the other 40 machines. Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! :) I reclaim barn wood for a living, and recently have found myself making way more money than I'll ever need, so I've decided to burn the rest. I convert all the large bills into singles, thus allowing myself the enjoyment of watching the fire burn longer. You can join in my quest of ridding the world of fiat dollars starting today. Simply burn your cash bill by bill by bill! ::) Title: Re: Destroying bitcoin, by coin, by coin... Post by: Raoul Duke on July 01, 2012, 05:39:42 PM This turned out to be a great Idea! No regrets, right guys? Holly thread necro! Title: Re: Destroying bitcoin, by coin, by coin... Post by: LittleDigger on July 02, 2012, 03:01:22 PM I am an IT specialist at a medium sized european insurance company. Not in the large datacenters or anything, just a smallish dependance. We're with only two people in my department and we work together so basically we can do with the computers at our disposal what we want. Including installing and running bitcoin miners :) Good for you! You might think. Nice bitcoins for us, ready to spend or trade on an exchange or whatever and it doesn't cost us anything! Other than a few lost hours reading into bitcoin and then registering for a pool and setting up some miners. But. We're not in this for the money. The ideal is what matters to us, the idea behind bitcoin, the potential it has and what it could same day become. The problem is, we don't believe in that. We both feel bitcoin is an incredibly silly idea, a waste of resources (spare me the irony, we're aware of it) and a concept that is doomed to fail. So, we destroy every coin we mine. It's amazing how much effort it takes PC's to create a bitcoin yet how easily they can be destroyed. It litterally takes us no more than a minute every week. Delete the wallet.dat and create a fresh one and another 5 coins or so are gone forever :) Miner is running on 12 PC's at the moment, total hashing power close to 700 Mhash. Next week it's time roll it out on the other 40 machines. Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! :) Whoa a whole 700Mhash.. over twelve boxes.. OMG! the hashing power of a 5970.. which would produce 2.8, not 5 BTC a week... looks like we have an "IT specialist" who doesn't know what a VLIW instruction set is.. or basic math.. Kid, it's going to take you about 144000 years to destroy bitcoin .. If everything stays exactly as it is now..In that time you might finish puberty, move from mommy's basement and get laid.. maybe the same sex and a different species but laid nonetheless.. .. buy a cardboard box under a bridge.. squeeze of a few little trolls. Bring 'em up to hate all that is bitcoin .. and die knowing that the dreaded bitcoin is still rolling round in cyberspace... Seriously dude, Thanks for the laugh.. Its been a long day and I needed it.... ;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: Anillos on July 02, 2012, 03:13:10 PM Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! :) If You give me 3000€, I will join the idea.Title: Re: Destroying bitcoin, by coin, by coin... Post by: Dansker on July 02, 2012, 03:21:17 PM I am an IT specialist at a medium sized european insurance company. Not in the large datacenters or anything, just a smallish dependance. We're with only two people in my department and we work together so basically we can do with the computers at our disposal what we want. Including installing and running bitcoin miners :) Good for you! You might think. Nice bitcoins for us, ready to spend or trade on an exchange or whatever and it doesn't cost us anything! Other than a few lost hours reading into bitcoin and then registering for a pool and setting up some miners. But. We're not in this for the money. The ideal is what matters to us, the idea behind bitcoin, the potential it has and what it could same day become. The problem is, we don't believe in that. We both feel bitcoin is an incredibly silly idea, a waste of resources (spare me the irony, we're aware of it) and a concept that is doomed to fail. So, we destroy every coin we mine. It's amazing how much effort it takes PC's to create a bitcoin yet how easily they can be destroyed. It litterally takes us no more than a minute every week. Delete the wallet.dat and create a fresh one and another 5 coins or so are gone forever :) Miner is running on 12 PC's at the moment, total hashing power close to 700 Mhash. Next week it's time roll it out on the other 40 machines. Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! :) Whoa a whole 700Mhash.. over twelve boxes.. OMG! the hashing power of a 5970.. which would produce 2.8, not 5 BTC a week... looks like we have an "IT specialist" who doesn't know what a VLIW instruction set is.. or basic math.. It also looks like we have someone who's not keen on reading dates.. :) Title: Re: Destroying bitcoin, by coin, by coin... Post by: zhitgeist on July 02, 2012, 03:22:44 PM Successful troll is successful. Sparked 6 pages of conversation. As it was previously mentioned, the OP can't run 12 computers nonstop without people noticing the increased cost of electricity. Imagine if he tried to do that with euros or dollars. "Every month I burn my paycheck because I hate dollars. Soon dollars will be gone." It's not even that. "Every month I WASTE my employers money for a frivolous crusade against some online currency." Not only would the OP be stupid, he'd be mentally deranged and be fired instantly if his employer found out.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Randy on July 02, 2012, 03:23:36 PM Now this sounds like a succesful troll attempt. I doubt there's anyone on the world who would willingful dedicate some of his time to create money and then destroy it.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: schnell on July 02, 2012, 03:29:16 PM Awh, Thanks! :)
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Ragnar17 on July 02, 2012, 05:50:27 PM Keep up the good work raising bitcoin value.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: GernMiester on July 03, 2012, 01:33:13 AM Cool, so iin something like the year 13000, yeah 13000, you will have destroyed all the bitcoins. GO MAN GO.
trolling jackasses Title: Re: Destroying bitcoin, by coin, by coin... Post by: Vorksholk on July 03, 2012, 01:50:38 AM That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. If you make all other BTC worth more and they are divided up into smaller pieces, the net result is no change long-term. You're not hurting anything. You're only helping us out in the short-term. Ok. Have 10 people and 10 pies. We give everyone a pie. Now 8 pies get lost. Some get eaten, one pie was encrypted and the key got lost, another one's fridge was hacked and his pie deleted, a pie was dropped on the floor, etc etc. We divide every remaining pie into 10 pieces. One guy didn't lose his pie, he gets to keep all 10 pieces. The other 10 pieces are divided evenly over the other 9 people and piece gets destroyed by me, just cos I can. And pie makes me fat. We have 10 times as many "items of pie". We performed a digit shift on the pie basically... Yet now one guy has half of all items of pie available, while he only had 1/10 earlier. Still think shifting the digit will solve bitcoins getting lost? ;) That reminds me, someone should sell pie for bitcoins if they don't already... Title: Re: Destroying bitcoin, by coin, by coin... Post by: Phinnaeus Gage on July 03, 2012, 02:30:24 AM This sure is a lot of "thread" for commenting on the OP by an actor who was only on this forum for exactly one hour, not to be heard from again. Hell, Nikki the Bitch had a longer tenure till theymos took her down and extended my vacation.
~Bruno~ Title: Re: Destroying bitcoin, by coin, by coin... Post by: LittleDigger on July 03, 2012, 03:06:27 AM This sure is a lot of "thread" for commenting on the OP by an actor who was only on this forum for exactly one hour, not to be heard from again. Hell, Nikki the Bitch had a longer tenure tell theymos took her down and extended my vacation. ~Bruno~ I think they did the forum a favor. I'm no longer restricted to Newbies but it's the only place I have posted. Some of the topics are way over my head, but this one is a fine bit of nonsense that anybody can participate in.. Great ice-breaker... Title: Re: Destroying bitcoin, by coin, by coin... Post by: elena.m on July 03, 2012, 03:25:54 AM I am an IT specialist at a medium sized european insurance company. … So, we destroy every coin we mine. It's amazing how much effort it takes PC's to create a bitcoin yet how easily they can be destroyed. It litterally takes us no more than a minute every week. Delete the wallet.dat and create a fresh one and another 5 coins or so are gone forever :) Wait, so you're an IT specialist and you don't use cron for this? Title: Re: Destroying bitcoin, by coin, by coin... Post by: Phinnaeus Gage on July 03, 2012, 03:32:27 AM I am an IT specialist at a medium sized european insurance company. … So, we destroy every coin we mine. It's amazing how much effort it takes PC's to create a bitcoin yet how easily they can be destroyed. It litterally takes us no more than a minute every week. Delete the wallet.dat and create a fresh one and another 5 coins or so are gone forever :) Wait, so you're an IT specialist and you don't use cron for this? Surely, you're not expecting an answer from him, for like I said, he was only on this forum for an hour. ~Bruno~ Title: Re: Destroying bitcoin, by coin, by coin... Post by: elena.m on July 03, 2012, 07:02:02 AM I am an IT specialist at a medium sized european insurance company. … So, we destroy every coin we mine. It's amazing how much effort it takes PC's to create a bitcoin yet how easily they can be destroyed. It litterally takes us no more than a minute every week. Delete the wallet.dat and create a fresh one and another 5 coins or so are gone forever :) Wait, so you're an IT specialist and you don't use cron for this? Surely, you're not expecting an answer from him, for like I said, he was only on this forum for an hour. ~Bruno~ Not really, but this thread is pretty funny. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Kazimir on July 03, 2012, 08:26:41 AM This thread is hilarious :D
Ok. Have 10 people and 10 pies. We give everyone a pie. Here's where your comparison fails: in reality, with one guy deliberately destroying his pie, 9 pieces remain, rather than 2. You see, 8 pieces out of 10 don't just get lost, like you seem to assume. You are destroying your pie, the other 9 people aren't. Now 8 pies get lost. Some get eaten, one pie was encrypted and the key got lost, another one's fridge was hacked and his pie deleted, a pie was dropped on the floor, etc etc. We divide every remaining pie into 10 pieces. One guy didn't lose his pie, he gets to keep all 10 pieces. The other 10 pieces are divided evenly over the other 9 people and piece gets destroyed by me, just cos I can. And pie makes me fat. We have 10 times as many "items of pie". We performed a digit shift on the pie basically... Yet now one guy has half of all items of pie available, while he only had 1/10 earlier. So each remaining unit of pie is now worth 10/9 as much as before. At the expense of the one guy that thought it would be smart to destroy his pie (i.e. you). Wealth is still distributed equally amongst everybody else. By destroying bitcoins, you basically give away money to others (in your situation: you're giving your employer's money to the power company) and you change exactly nothing for the rest of the world :) Quote Still think shifting the digit will solve bitcoins getting lost? ;) Absolutely. Except for the guy who destroys his pie.Title: Re: Destroying bitcoin, by coin, by coin... Post by: Nooner on July 03, 2012, 08:33:28 AM I like pie... Especially when other peoples stupid ideas result in me getting more pie.
An obvious troll, but soooo hard to resist responding :) Clearly I failed... But not as hard as the OP. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Kazimir on July 03, 2012, 09:07:52 AM I know we probably won't see the TS anymore, but just for the sake of argument:
- The deflatory nature of bitcoin is an inherent flaw making the principle useless Ah, as opposed to the (hyper)inflation currently condoned by the US and European governments and banks, which is obviously a great success and has brought us nothing but wealth and growth, right?Quote - Bitcoin is a speculative bubble, has no real value and will cause many people to lose the money they invested I think you are confusing Bitcoin with Dollars. Or stock options. Or basically anything other than the actual products and services that we tend to buy with money.Quote - The whole concept is too geeky (and yes, we're geeks too, but still) to become ever widely adopted Wait, is this a notion on Bitcoin in 2012, or on The Internet in 1992?Quote - It is a pyramid scheme and the only ones benefiting are the early adoptors and they will laugh at you when they cash and pull out Early adopters benefit: sure. That's their reward for stepping in early even when Bitcoin was still insignificant.Cash and pull out: ah, I see. How, exactly? If I have a million BTC, currently worth about 6.5 million US $, there's no practical way to actually get that $6.5M. Quote - It's a botnet-hack waiting to happen You mean infiltrating people's computers to steal their wallets, or to abuse their processing power to mine coins?Quote - Instances like MtGox deciding to perform rollbacks show that the principle ideal was already raped What rollbacks are you referring to, exactly? And how does that show that the Bitcoin concept itself is 'already raped'? :)Anyway. Thank you sir, for some good comedy ;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: Kazimir on July 03, 2012, 11:12:28 AM I can't help but fail to see the logical implication here:
The problem is, we don't believe in that. We both feel bitcoin is an incredibly silly idea, a waste of resources (spare me the irony, we're aware of it) and a concept that is doomed to fail. You think Bitcoin is a silly idea. Therefore you participate in it and actively destroy bitcoins.. ??? Is that supposed to be any less silly, somehow?So, we destroy every coin we mine. Why not ignore Bitcoin altogether, and just have a laugh at the fools who fall for this obvious nonsense ;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: organofcorti on July 03, 2012, 11:41:49 AM The whole concept is too geeky (and yes, we're geeks too, but still) to become ever widely adopted Wait, is this a notion on Bitcoin in 2012, or on The Internet in 1992?Title: Re: Destroying bitcoin, by coin, by coin... Post by: Foxpup on July 03, 2012, 11:51:51 AM You think Bitcoin is a silly idea. Therefore you participate in it and actively It's not silly at all. Far from it. As has been pointed out, his mining efforts efforts are providing additional security for the Bitcoin network, and by destroying the coins he is both declining to accept the reward normally offered to those who provide this important service and increasing the value of everyone else's coins. I normally wouldn't reply to a thread such as this, but I just feel obliged to thank Coins are Gone for his selfless generosity. Well, I guess it's not selfless since he's stealing from the company to do it, but that doesn't mean he's not a hero. Like Robin Hood in a way. ;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: Kazimir on July 03, 2012, 01:02:56 PM Well, I guess it's not selfless since he's stealing from the company to do it, but that doesn't mean he's not a hero. Like Robin Hood in a way. ;D Hahaha, right! Coins are Gone steals from the rich (his employer) and gives to the poor (us humble bitcoin users). Sweet :) ♥Title: Re: Destroying bitcoin, by coin, by coin... Post by: deus-ex-machina on July 03, 2012, 08:22:02 PM Well, there's always finding keys of lost addresses, posting the address and NOT the key and asking if it's still used. If not used, it goes to the one who found it. If used, inform the person to move them to a different address to prevent theft.
Then lost Bitcoins could actually come back. Of course, only addresses not used after a year would be able to be posted. Otherwise it would just post over and over. Could sort alphabetically or have a search feature. Title: Re: Destroying bitcoin, by coin, by coin... Post by: bitChick_mauRa on July 03, 2012, 08:55:43 PM You do understand, that 700 mhash is NOT that much?
That is like saying I am trying to ruin the USD because I throw pennies away. You, my friend, are an idiot. You are wasting the resources of your "mid-level insurance company" with a TINY amount of hash power. You will lose your job once your superior figures out you are frying the company hardware for literally, fractions of pennies. You do realize, there are single GPUs that get more then 700 Mhash, right? Title: Re: Destroying bitcoin, by coin, by coin... Post by: DannyHamilton on July 03, 2012, 09:26:38 PM Well, there's always finding keys of lost addresses. . .Then lost Bitcoins could actually come back . . . You're making a joke, right?Title: Re: Destroying bitcoin, by coin, by coin... Post by: Hecate on July 03, 2012, 09:29:21 PM Seems like successful troll was successful. Or they really threw money out of the window which is kinda unrealistic.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: LittleDigger on July 05, 2012, 11:57:18 AM I'm not worried about destroyed bitcoins, but I'm deeply disturbed that some psycho is hacking into peoples fridges and screwing with their pies.. Thanks for the warning.. :o
Some weirdo trys to play with my pies he better be indigestable by my bull mastiff and wearing kevlar or he's FUBAR.. >:( I can understand messing with a man's bitcoins, but it's a sick world when his dessert isn't safe.. ??? Just saying, that ain't right.... That ain't right at all... Title: Re: Destroying bitcoin, by coin, by coin... Post by: Kazimir on July 05, 2012, 12:46:57 PM Well, there's always finding keys of lost addresses, No, there isn't.Title: Re: Destroying bitcoin, by coin, by coin... Post by: anu on July 05, 2012, 01:44:00 PM Well, there's always finding keys of lost addresses, No, there isn't.Easy. just count through all the possible keys and see which one matches. Are you in a hurry? ;D Title: Re: Destroying bitcoin, by coin, by coin... Post by: zus on July 05, 2012, 07:46:52 PM The more you delete the more you everyone here rich
Title: Re: Destroying bitcoin, by coin, by coin... Post by: RodeoX on July 05, 2012, 07:56:18 PM Thank you for doing this. It helps all of us who love bitcoin and see what a visionary idea it is by raising prices.
By the way, I don't believe you for a moment. But if it is true, WTF is wrong with your brain? Your cheating your employer out of their money so that you can work late creating and destroying money??? One day would look back and cry at what a fool you have been. I say would because I don't believe you. Perhaps you could show us the addresses for all these wallets your throwing away. Title: Re: Destroying bitcoin, by coin, by coin... Post by: cst on July 05, 2012, 08:04:28 PM This thread still alive? Seriously, people, stop feeding the trolls.
Title: Re: Destroying bitcoin, by coin, by coin... Post by: Kazimir on July 05, 2012, 08:21:52 PM Easy. just count through all the possible keys and see which one matches. Are you in a hurry? ;D There is not enough energy and time in the universe (http://www.schneier.com/blog/archives/2009/09/the_doghouse_cr.html) do actually pull it off :)Title: Re: Destroying bitcoin, by coin, by coin... Post by: deus-ex-machina on July 05, 2012, 10:34:26 PM Easy. just count through all the possible keys and see which one matches. Are you in a hurry? ;D There is not enough energy and time in the universe (http://www.schneier.com/blog/archives/2009/09/the_doghouse_cr.html) do actually pull it off :)Random generator anyone? Title: Re: Destroying bitcoin, by coin, by coin... Post by: organofcorti on July 05, 2012, 10:40:56 PM Easy. just count through all the possible keys and see which one matches. Are you in a hurry? ;D There is not enough energy and time in the universe (http://www.schneier.com/blog/archives/2009/09/the_doghouse_cr.html) do actually pull it off :)Yes, there is. It's possible. It's just very unlikely. It would be good as one of those old age hobbies you're never meant to complete. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Catbus on July 06, 2012, 02:03:03 AM I agree with this. We need to make 1BTC worth 100USD. Now. Do that and then there will be no buying interest on BTC due to price :-\ Title: Re: Destroying bitcoin, by coin, by coin... Post by: bobobear on July 06, 2012, 05:03:44 AM I agree with this. We need to make 1BTC worth 100USD. Now. Do that and then there will be no buying interest on BTC due to price :-\ People would simply buy smaller chunks of bitcoins at a time. Title: Re: Destroying bitcoin, by coin, by coin... Post by: Kazimir on July 06, 2012, 09:44:17 AM I agree with this. We need to make 1BTC worth 100USD. Now. Do that and then there will be no buying interest on BTC due to price :-\ Title: Re: Destroying bitcoin, by coin, by coin... Post by: DannyHamilton on July 06, 2012, 04:33:37 PM Well, there's always finding keys of lost addresses. . .Then lost Bitcoins could actually come back . . . You're making a joke, right?Easy. just count through all the possible keys and see which one matches. Are you in a hurry? ;D There is not enough energy and time in the universe (http://www.schneier.com/blog/archives/2009/09/the_doghouse_cr.html) do actually pull it off :)Title: Re: Destroying bitcoin, by coin, by coin... Post by: anu on July 06, 2012, 06:06:21 PM Seriously though, you're joking, right? Addresses are 160 bit. If you have a 1-Trillion-Trillion core computer and each core can check 1 Billion addresses per second, you have to keep counting for a 50 Million years to have a reasonable chance to get a valid private key. Good luck! Title: Re: Destroying bitcoin, by coin, by coin... Post by: LoupGaroux on July 06, 2012, 06:30:36 PM Oh look, how cute! A brand new little troll who can't even get his inflammatory story straight.
Really it would be more like Lucy working at the candy factory instead of your pie analogy. Every ten minutes or so, another 50 pieces of candy come right down that conveyor belt, and you can stuff about... what? Five each week into you mouth? Your efforts are less than trivial, all you have managed to do is burn up roughly $50 worth of electricity to waste $30 worth of abstract tokens of floating value. Good on you, Mister CoinsAreGone Avenger Boy. Living the good life and striking a blow for humanity by wasting your time, your company's resources, and the very air you breathe by respiration. Proof that the gene pool has a shallow end, and you are sitting there messing yourself, gloating about your inflated sense of self-worth. Keep on destroying tootweasel, you mean less than nothing to the world. And you might want to get your unemployment benefits statement ready... the last fuck-wit who bragged about using company resources to mine, FTW, ended up getting gently doxxed into oblivion and joblessness. I expect someone will be along to sweep you out with the rest of the rubbish on the floor shortly. Title: Re: Destroying bitcoin, by coin, by coin... Post by: smyl on July 06, 2012, 08:53:15 PM good going OP, over a year, and still getting comments... Title: Re: Destroying bitcoin, by coin, by coin... Post by: ildubbioso on July 06, 2012, 09:00:01 PM That's what Coins are Gone used to do before Bitcoin ;D
http://adscam.typepad.com/.a/6a00d8341bfa1853ef010535d2dc55970b-800wi Title: Re: Destroying bitcoin, by coin, by coin... Post by: SgtSpike on July 06, 2012, 11:23:06 PM Are we ever going to know how many are lost? How? https://bitcointalk.org/index.php?topic=7253.0 |
