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Author Topic: destroying bitcoins  (Read 5633 times)
leen93
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March 23, 2015, 05:58:44 PM
Last edit: April 18, 2015, 10:02:04 PM by leen93
 #1

Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins.
Destroying some bitcoins can have a serious positive impact on the price
If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies.
But every satoshi could help a bit... This is the best way to support bitcoin

The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven?  Cheesy )
1BitcoinEaterAddressDontSendf59kuE


People who helped destroy bitcoins to raise the btc-price:
leen93 : 10.000 satoshis



FIRST GOAL TO REACH : 100.000 satoshi
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leen93
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March 23, 2015, 05:59:51 PM
Last edit: March 23, 2015, 06:10:50 PM by leen93
 #2

please post in this topic when you destroyed some bitcoins togetehr with the tx id when you sended them to the address. Even 1 satoshi can help!
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March 23, 2015, 06:41:11 PM
 #3

if you want to make a serious impact start with destroying 1btc. let's see how much impact it has.
and we will see how many people will follow. Grin
leen93
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March 23, 2015, 06:45:17 PM
 #4

if you want to make a serious impact start with destroying 1btc. let's see how much impact it has.
and we will see how many people will follow. Grin
I'll do it later if it works and price goes up  Smiley but we need to do it together
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March 23, 2015, 06:46:13 PM
 #5

Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins.
Destroying some bitcoins can have a serious positive impact on the price
If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies.
But every satoshi could help a bit... This is the best way to support bitcoin

The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven?  Cheesy )
1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr

People who helped destroy bitcoins to raise the btc-price:
leen93 : 10.000 satoshis



FIRST GOAL TO REACH : 100.000 satoshi

LOL nice try. If you really want to send bitcoins to the void (and not just donate to OP) send them here: 1CounterpartyXXXXXXXXXXXXXXXUWLpVr
or even here 1EcuaMobiDoNotSendBTCHereXXYcbk8Da

But seriously, just don't.

NeuroticFish
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March 23, 2015, 06:50:38 PM
 #6

There are 3 flaws in this:

1. There's no way to prove the key is indeed lost - when your goal of BTC is reached, you can just easily run with the coins.
I don't say that this will happen, but .. just put yourself in my place and think.

2. While BTC doesn't have a clearly established value (price), scarcity will not increase its price in the way to worth it. Just imagine that a mining farm may dump in one day more than you can gather with this project.

3. People don't really depart of their valuable assets if there's no clear benefit in that.

leen93
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March 23, 2015, 06:51:01 PM
Last edit: March 31, 2015, 01:28:58 PM by leen93
 #7

Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins.
Destroying some bitcoins can have a serious positive impact on the price
If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies.
But every satoshi could help a bit... This is the best way to support bitcoin

The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven?  Cheesy )
1BitcoinEaterAddressDontSendf59kuE

People who helped destroy bitcoins to raise the btc-price:
leen93 : 10.000 satoshis



FIRST GOAL TO REACH : 100.000 satoshi

LOL nice try. If you really want to send bitcoins to the void (and not just donate to OP) send them here: 1CounterpartyXXXXXXXXXXXXXXXUWLpVr
or even here 1EcuaMobiDoNotSendBTCHereXXYcbk8Da

But seriously, just don't.

I don't have the private key and nobody does like i told you
what are those addresses?
I'm also wondering if there is any way to make a wallet and proof you don't have the private key?
leen93
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March 23, 2015, 06:53:43 PM
 #8

There are 3 flaws in this:

1. There's no way to prove the key is indeed lost - when your goal of BTC is reached, you can just easily run with the coins.
I don't say that this will happen, but .. just put yourself in my place and think.

2. While BTC doesn't have a clearly established value (price), scarcity will not increase its price in the way to worth it. Just imagine that a mining farm may dump in one day more than you can gather with this project.

3. People don't really depart of their valuable assets if there's no clear benefit in that.
1. is there a way to prove that?
2. the net supply of bitcoins will still be less, less supply does increase bitcoins' price
3. supporting bitcoin might be valuable for some people
NeuroticFish
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March 23, 2015, 07:00:42 PM
 #9

1. is there a way to prove that?
2. the net supply of bitcoins will still be less, less supply does increase bitcoins' price
3. supporting bitcoin might be valuable for some people

1. From what I know, there's no way.

2. It's not like that. Not that simple and not directly.
Just imagine how much fuel (and hydrogen) and metals are lost in space because of the satellites and space program. Did that make them more expensive?

3. Yes. But this not really supporting bitcoin, sorry.

leen93
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March 23, 2015, 07:22:13 PM
 #10

1. is there a way to prove that?
2. the net supply of bitcoins will still be less, less supply does increase bitcoins' price
3. supporting bitcoin might be valuable for some people

1. From what I know, there's no way.

2. It's not like that. Not that simple and not directly.
Just imagine how much fuel (and hydrogen) and metals are lost in space because of the satellites and space program. Did that make them more expensive?

3. Yes. But this not really supporting bitcoin, sorry.
1. ok, if someone knows he can let me know Smiley
2. slightly yes, but bitcoin is quite price inelastic so a small drop in supply or raise in demand can have some effect.
3. it has a positive price on the bitcoin price and by this supporting all the bitcoin community, possibly bringing good news ...
oblivi
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March 23, 2015, 07:39:33 PM
 #11

Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins.
Destroying some bitcoins can have a serious positive impact on the price
If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies.
But every satoshi could help a bit... This is the best way to support bitcoin

The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven?  Cheesy )
1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr

People who helped destroy bitcoins to raise the btc-price:
leen93 : 10.000 satoshis



FIRST GOAL TO REACH : 100.000 satoshi
LOL, dumbest thing i've read all day. It's probably your address. What we need is more adoption, that's all thats needed to sky rocket he price. Unless you get a whale to "destroy" tons of them it will never have a real impact on the price.
OROBTC
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March 23, 2015, 07:48:27 PM
 #12

...

IMO, destroying Bitcoins in this fashion serves no useful purpose.  So we lose a Bitcoin or two if OP is truthful and people "contribute", we really gain nothing as a community.

A better use of Bitcoin would be to go spend some on something useful (gold) or to just BUY MORE of them!  Buying more increases the demand, which would have about the same net effect as cutting supply (destroying Bitcoins).

Why destroy BTC?  Just buy more!  Or use some BTC to buy gold...
FullLife
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March 23, 2015, 08:41:16 PM
 #13

Do people actually fall for this?
EcuaMobi
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March 23, 2015, 08:42:34 PM
 #14

Do people actually fall for this?

It seems they don't, fortunately. Only TX is OP's.

SirChiko
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March 23, 2015, 08:50:11 PM
 #15

Since the bitcoinprice decreased a lot last year I would like to destroy some bitcoins.
Destroying some bitcoins can have a serious positive impact on the price
If every human being could destroy 0.001 BTC we would half the amount of bitcoins in circulation, increasing the price of bitcoin in compare to other currencies.
But every satoshi could help a bit... This is the best way to support bitcoin

The private key of this wallet is lost (on purpose) and those bitcoins will never be able to get out of this wallet (or heaven?  Cheesy )
1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr

People who helped destroy bitcoins to raise the btc-price:
leen93 : 10.000 satoshis



FIRST GOAL TO REACH : 100.000 satoshi
I don't see this anyhow "supporting btc" this is bullshit i'm sorry man.
Also nobody has proof that you don't have the private key so you can run away with coins wuite easily.
Just my 5 cents.

The only online casino on which i won something. I made 17mBTC from 1mBTC in like 15 minutes.  This is not paid AD!

▀Check it out yourself▀
flyingplows
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March 23, 2015, 08:53:15 PM
 #16

Shocked Shocked Shocked
What a brilliant idea Grin Maybe people could destroy all their fiat money also and there would be left only crypto currencies Wink
But oh wait... Governments would just print more of them or remove cash money at all leaving only bank transfers and credit-cards Cheesy
Btw, I would really destroy up to a dollar btc value if there was some legit operation of this kind... not to increase price, but, you know, just to take part in publicly destroying something  Tongue

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March 23, 2015, 09:36:13 PM
 #17

I don't have the private key and nobody does like i told you
what are those addresses?
I'm also wondering if there is any way to make a wallet and proof you don't have the private key?

Yes, you can create valid addresses without generating the private key also.

Check this website: http://earlz.net/view/2014/10/22/0340/provably-spendable-altcoin-burn-addresses

Also, here's a list of popular burn addresses: https://bitcointalk.org/index.php?topic=917913.0

Razick
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March 23, 2015, 09:50:51 PM
 #18

Even if this wasn't clearly an attempt to receive Bitcoins, there is a major flaw: anyone who destroys their own Bitcoin is guaranteed to lose more than any resultant price increase.
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March 23, 2015, 10:24:34 PM
 #19

OP, you are a funny guy.
Perhaps you should be a stand-up comedian.
This is the bitcoin joke of the day. Grin

randy8777
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March 24, 2015, 12:02:53 AM
 #20

if you want to make a serious impact start with destroying 1btc. let's see how much impact it has.
and we will see how many people will follow. Grin
I'll do it later if it works and price goes up  Smiley but we need to do it together

people won't do it. and there is no need to. i will never "destroy" my coins no matter if the size is low or high.
the eventual gain is not worth it.
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