Bitcoin Forum

OFFS Altcoin Offset Credits is a new asset on the NXT Asset Exchange.

OFFS are only earned via Proof-of-Burn in exchange for burning BARR (Burning Altcoins for Redemption and Reduction).  

Burning BARR by sending it back to the Burn Fund allows that BARR to be recycled and reused to take even more altcoins out of circulation;  this contribution to the ongoing efforts of BARR is rewarded with OFFS.

The goal of OFFS is to establish a voluntary standard of Altcoin Emissions Reduction which can be adopted universally by altcoin companies, projects, and developers.  






The world of cryptocurrency now exists in an overpopulated and polluted ecosystem - there are too many coins, too much garbage, and too much waste.  

Anyone who is contributing to the problem by releasing their own coins, or by profiting from the sale of these polluting coins, can offset their own pollution with Altcoin Offset Credits.  

Any project can work to remain Altcoin Emission Neutral by earning Altcoin Offset Credits, which allows them to help reduce the number of altcoins in existence.  

Groups, companies, and individual developers can proudly display their OFFS Altcoin Offset Rating to show a good faith effort to offset the pollution of altcoins, and to balance their own coin emissions by reducing and recycling other coins.

OFFS can be used as a Cap-and-Trade standard for the industry, allowing limits to be set and negotiated for any activity that stresses the market and the cryptocurrency ecosystem.  If you are over your agreed-upon limit but need to extend it, such as a limit for coin emission or pollution, you will be able to trade or buy OFFS from someone else who has earned them and hasn't used all of theirs.  

Or, for long-term purposes and any possible standing agreements that need to be irrevocable, you can burn your OFFS to set a Permanent Offset Rating that can never be reduced.

Any Altcoin Offset Rating can be independently verified through a decentralized process, simply by checking the balance of OFFS held in a given NXT account.  A rating can be made permanent by sending OFFS to the NXT Genesis Account;  these OFFS will effectively be destroyed, and the rating will be held by the owner of the account that sent the transaction.  The address of the NXT Genesis Account is NXT-MRCC-2YLS-8M54-3CMAJ











OFFS are sent and received from your NXT wallet – if you’ve never used NXT before, just try it.  We think you’ll be impressed.


To download the NXT client, visit http://NXT.org.  (The installation is relatively simple, but it takes a while for the blockchain to sync.)

With the NXT client, you can send, receive, and trade, all inside the wallet interface.  
That includes NXT, OFFS, BARR, and any other NXT asset as well as any currency on the NXT Monetary System, such as Nautilus.  


To use an online wallet, visit https://wallet.MyNXT.info  (It’s easy, and you can also buy and sell on the NXT exchange from your online wallet.)


Or to begin trading OFFS instantly, visit https://trade.SecureAE.com and create a username and passphrase.  (This is the fastest way to send NXT from an altcoin exchange and buy OFFS)









The total maximum supply is set at 10,000,000 OFFS, with 0 OFFS in circulation at launch.

There will be no IPO, no ICO, no Pre-Sale, and no funds set aside for the devs.  

The BARR project will earn its own Altcoin Offset Rating by burning personal funds donated by the developers.

OFFS is only distributed to people who burn their own BARR - We distribute it for free, but no one can get it for free.

OFFS will be exchanged for BARR at a set rate during each burn period, and will work in tandem with BARR's burn periods.  The first burn period is November 1st through November 30th, during which OFFS will be exchanged 1 for 1 with BARR.  The exchange rate will vary for future burn periods.

For more details about burn exchanges, visit the BARR topic at https://bitcointalk.org/index.php?topic=1219460.0






OFFS are made from 100% Recycled Altcoins.  

Before you generate one more coin, show the world that you have recycled some first.

Reading

Interesting project. Nice to see more people using the NXT platforms :)
Wish you good luck

bookmarks  :)

very interesting concept²

burn ALTS get BARR
burn BARR get OFFS

i like this symmetry

Selamat pagi!  Is it true you can buy Bitcoin at Indomaret?

It does round out the project by giving an additional purpose for BARR.  For now BARR will be the main focus, but OFFS has equal potential on its own. 

The launch has begun, happy recycling!

Day 1 is coming to a close, and we have burned 30,000 BARR in exchange for 30,000 OFFS. 

15,000 of the OFFS has been permanently burned.

We're just getting started, so stay tuned!

We've had our first burn for OFFS (other than our own), and OFFS has also seen its first trading activity.

There probably won't be a lot of updates in the short term, since BARR is still getting started and people need BARR to get OFFS.  When BARR becomes more established, OFFS will have a stronger foundation and can begin a steady growth.

no, because it simply is not true issue
http://www.indomaret.co.id/main-content/berita/2014/09/17/indomaret-tidak-pernah-menjalin-kerjasama-dengan-bitcoin/

Well that's disappointing. 

Maybe it will come true anyway.

We are preparing proposals to present to various altcoin exchanges and websites, asking them to adopt OFFS.  We want to start with some well-respected sites, but we would appreciate any suggestions or ideas as to which organizations might be particularly useful or receptive to OFFS.

Bubarrrrr... bubarrrr....  ;D ;D ;D ;D

for have OFF  i I have to send to this address  NXT-MRCC-2YLS-8M54-3CMAJ BARR

then I get the OFF  on address ( NXT )  from I sent BARR!
I have to do?

No. 

The burn address for BARR is NXT-HD9P-ZTPP-EHFJ-59VUC

For more details about burn exchanges, visit the BARR topic at https://bitcointalk.org/index.php?topic=1219460.0

So you are saying that we burn BARR to get OFF? that will increase the OFF's price considerably I have to say

Burning BARR is the only way to earn OFFS.  The exchange rate can vary with each burn period, and next month it will probably take more BARR to earn each OFFS.

Great to see dev with many good ideas ;D I hope to see a roadmap of this coin

Oops, too late I sent to the genesi , I do not know what it is !!

paolo, I see a transaction of 30 BARR sent to the NXT Genesis account.  I'll send you 30 BARR from my personal account, but remember to check on the BARR topic for current exchange rates, and always message BARR_Official before you burn anything to prove that it's your transaction.  Full details and instructions are in the BARR topic, and OFFS follows the same rules and burn periods as BARR.

Sending BARR back to the burnfund means that it's taken out of circulation, and we can re-use that BARR to exchange for future altcoins.  That helps BARR, so we give OFFS in exchange when you send your BARR back to the burn fund.  But sending BARR to the NXT genesis account permanently destroys it, and that doesn't help us as much.  So we don't give OFFS for BARR that is sent to the genesis account and permanently burned.

With OFFS, typically you can hold your OFFS balance and use that as your number of Altcoin Offsets.  They can be transferred, sold, or traded.  The only time you would send OFFS to the genesis account for permanent burning would be to set a Permanent Offset Rating that can never be changed.

I just burned another 100,000 BARR for OFFS.  The exchange rate is 1 OFFS for 1 BARR until the end of November, but it looks like the next burn period will exchange .9 OFFS per BARR.

Alright, things are still moving ahead great with BARR, and we've set the exchange rate for OFFS during December at .9 OFFS per BARR.  We are still exchanging 1 OFFS per BARR through November 30th, so you can get them cheaper now. 

Which is why I decided to burn more of my BARR for OFFS, before the price goes up.  That brings us to a total of about $6,500 worth of BARR that has been burned in exchange for OFFS. 

Still going, looking good!

The next burn period will be from January 1 to January 30.

The exchange rate will be 1.25 BARR for 1 OFFS, or .8 OFFS per BARR

Keep recycling!

Alright, 2 more days to exchange BARR for OFFS at the current rate.

The next exchange period will be from February 14 to February 28.

The February exchange period has begun, and will end on February 28.

The current exchange rate is 0.7 OFFS per BARR.

Only a few more hours before February burn exchange ends.

The next exchange period for OFFS will be from March 14 to March 28, and we are planning to set the rate at 0.6 OFFS per BARR.

February burn is over, and we burned 50,000 BARR!

That brings our total to over 280,000 BARR burned in all,
with a rough estimated value of up to $15,000.

March burn begins on the 14th and ends on the 28th.

March burn period is over.  We burned 25,000 BARR and issued 15,000 OFFS.

Next burn is from April 14 to April 28.

The rate for April will be 0.5 OFFS per BARR (2 BARR per OFFS)

The burn for April has begun.  Remember, burn redemption ends at 23:59 UTC on April 28. 

To burn BARR, send your BARR to the burn address (to be recycled back into the Burn Fund):
NXT-HD9P-ZTPP-EHFJ-59VUC

When your transaction is confirmed, we'll send your OFFS to your NXT address.

The rate is .5 OFFS per BARR.

April burn has now ended.

It's been almost a year since the last comment.  This page dead or just idle?  Hellllloooooooo?!?

Mostly idle, but the main discussion is on the BARR topic.  Since OFFS is tied to BARR, and not much is happening with BARR, not much is happening with OFFS.