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1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [BARR] Burning Altcoins for Redemption and Reduction - Multi-Proof-of-Burn on: October 25, 2015, 11:09:26 AM
I literally made an account on this forum (finally) just to point out the obvious scam in all of this:

So you're proposing burning a coin and receiving credit for burning in BARR, however this means eventually BARR is going to have some value on the asset exchange. That is 1 BARR = x units of NXT.

Since you control the supply of BARR, what is honestly preventing you from when x hits some desirable rate that you just don't dump a huge chunk of your BARR onto the market, make a nice profit and walk?

Also, lol the fact that you're doing this manually, this honestly wouldn't take more than a day or two to automate, since people can attach messages to transactions they could put their NXT address / pub key in the message field, submit the coins to the burn addresses listed and you have a worker bot that pays them out automatically -- literally a day of coding tops.

tl;dr
obvious (eventual) scam, dev probably doesn't know jack about coding

-- edit: this post will probably get deleted too, but op deleted the post where I called out his bullshit in technical details, oh well.
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