Re-post: Be careful about XCP/Counterparty

[Bit510]

Before I say something, please have a look at my reveal about VSC/Visacoin scam thread: https://bitcointalk.org/index.php?topic=384097.200.

I have told everybody that VSC is a scam on Jan 1, 2014(https://bitcointalk.org/index.php?topic=394328.0). Now you can see what happened.

Now I would say you guys be careful about XCP/Counterparty. I believe this is a high intelligent scam. Take a whole of XCP thread, you will find something. Follow me and an eye on XCP to reveal this XCP scam again: https://bitcointalk.org/index.php?topic=395761.0

[superresistant]

Dude, the BTC are burned. That mean it is destroyed. No one is receiving BTC.

[markm]

Burning bitcoins is good for the rest of us that hold bitcoins but is nonetheless kind of stupid.

There must be better ways to distribute initial coins, and ways that are more evenly spread across recipients too.

-MarkM-

[superresistant]

Burning bitcoins is good for the rest of us that hold bitcoins but is nonetheless kind of stupid.

There must be better ways to distribute initial coins, and ways that are more evenly spread across recipients too.

It is the best way to distribute a non-PoW coin.
Mastercoin and Next did the same. eMunie plan to do the almost the same except the dev will keep all BTC.

[jimhsu]

Before more comments and ad hominem attacks, see https://en.bitcoin.it/wiki/Proof_of_burn

Comments should focus on whether PoB makes sense as an alternative to distribution to PoW and PoS(honestly, I don't know), not if "the developer will run with the coins" (they mathematically can't, and the record of them sending multiple BTC to the address is already in the blockchain).

There is always the possibility that said developers are major holders (as in 100K+ bitcoins) and would like to see BTC destroyed to enrich their wallet; however that speculation should be discussed separately.