destroying bitcoins

[johnyj]

In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time

The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day,  the value will increase for sure, and an easy way is to purchase from exchanges and spend them

[KenR]

In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time

The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day,  the value will increase for sure, and an easy way is to purchase from exchanges and spend them

Yes, I think also like it, buy as many bitcoin in the exchanger, it would be a good policy to raise back the bitcoin price

[Amph]

In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time

The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day,  the value will increase for sure, and an easy way is to purchase from exchanges and spend them

this is true only if there is interest in purchasing bitcoin, by normal people( the classic "average joe/josephine"/newbies), otherwise you can freeze as many bitcoin as you want, and the price won't rise too

interest is the real key

[Mikestang]

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

Derrrr, whaaaaaaaaaat?  What a screwy idea, I don't think things work quite how you think they do.  Rather than destroy btc, you can send it to me and I'll spend them.  Using btc in day to day life is a much, much better way to support bitcoin than purposefully losing coins.

[manselr]

In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time

The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day,  the value will increase for sure, and an easy way is to purchase from exchanges and spend them

this is true only if there is interest in purchasing bitcoin, by normal people( the classic "average joe/josephine"/newbies), otherwise you can freeze as many bitcoin as you want, and the price won't rise too

interest is the real key

Yeah only real money flow can make a market rise, all other techniques are only smoke mirrors and short term pumps. Mass adoption or burst.

[johnyj]

In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time

The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day,  the value will increase for sure, and an easy way is to purchase from exchanges and spend them

this is true only if there is interest in purchasing bitcoin, by normal people( the classic "average joe/josephine"/newbies), otherwise you can freeze as many bitcoin as you want, and the price won't rise too

interest is the real key

Yeah only real money flow can make a market rise, all other techniques are only smoke mirrors and short term pumps. Mass adoption or burst.

Consumption is real money flow. You don't need other people, with 2 million bitcoin user, each buying and spending 10 bitcoin every month, there will be 10 million coins permanently occupied in circulation thus not available for others to purchase on exchanges, and currently the coins on all of the exchanges is maximum 1 million, so the coin price must rise at least 10 times to achieve that

You might say that the interest of doing so is low. But wait a second, these 2 million bitcoin users all have certain amount of bitcoin holding, doing so will raise the value of their bitcoin holding by 10 fold, why aren't they interested?

[elianite]

you should just throw it into the genesis block address. sacrifice to Satoshi!

[vlad12]

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?   )
1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr

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



FIRST GOAL TO REACH : 100.000 satoshi

Scammy as fuck. I guarantee you with 100% certainty that YOU own that BTC address which you posted. Stop trying to scam noobs.

If you want to actually burn BTC (provably) send here: 1CounterpartyXXXXXXXXXXXXXXXUWLpVr

https://en.bitcoin.it/wiki/Proof_of_burn

[randy8777]

In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time

The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day,  the value will increase for sure, and an easy way is to purchase from exchanges and spend them

i have seen plenty of 2012 and 2013 wallets where there is no output while it has a fair amount of coins inside.
it's not possible to see if these are cold wallets or "no access" wallets.

[vrm86]

OP has just invented new way to scam people, at least quite funny 

[zetaray]

You can destroy 1000btc and price will not change a bit. There are thousands of bitcoin lost because of forgotten passwords and corrupted wallets. Your effort is minuscule in comparison.

[Q7]

If anyone wants to do it, the person could just send to any random address. I mean I would fancy an address with some catchy and funny names. Anyway, nice try catching some btc. If I want to do it, I would rather get the counterparty address and send whatever amount I want to.

[Josef27]

If anyone wants to do it, the person could just send to any random address. I mean I would fancy an address with some catchy and funny names. Anyway, nice try catching some btc. If I want to do it, I would rather get the counterparty address and send whatever amount I want to.

The question is, who would want to do it?
I didn't want to destroy my own hardwork

[Amph]

In fact most of the coins in cold wallets are almost like destroyed, they are not in circulation for a long time

The key is to remove bitcoins from exchanges, when coins on exchanges are getting less and less every day,  the value will increase for sure, and an easy way is to purchase from exchanges and spend them

this is true only if there is interest in purchasing bitcoin, by normal people( the classic "average joe/josephine"/newbies), otherwise you can freeze as many bitcoin as you want, and the price won't rise too

interest is the real key

Yeah only real money flow can make a market rise, all other techniques are only smoke mirrors and short term pumps. Mass adoption or burst.

Consumption is real money flow. You don't need other people, with 2 million bitcoin user, each buying and spending 10 bitcoin every month, there will be 10 million coins permanently occupied in circulation thus not available for others to purchase on exchanges, and currently the coins on all of the exchanges is maximum 1 million, so the coin price must rise at least 10 times to achieve that

You might say that the interest of doing so is low. But wait a second, these 2 million bitcoin users all have certain amount of bitcoin holding, doing so will raise the value of their bitcoin holding by 10 fold, why aren't they interested?

well i'm not talking about the interest of who own bitcoin, but from new people who will buy it, if those "new people" will not share the same interest, the price will not rise significantly, remember we need new influx of money, not just those who hold bitcoin

[chmod755]

Reducing supply does not  necessarily mean it will maintain or increase demand.

If you want to have a positive impact on the Bitcoin economy spend some coins.

[sgk]

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?  )
1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr

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

FIRST GOAL TO REACH : 100.000 satoshi

1. What's the guarantee this will drive the price up?
2. If you destroy Bitcoins and price increases, don't you have same amount of money? (More BTC with less price VS Less BTC with high price)
3. What's the guarantee the private key to that address is lost? (Apart from trusting your word)
4. Why not use a proven 'Proof of Burn' address instead of using yours? (https://en.bitcoin.it/wiki/Proof_of_burn , https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr)

[Eastwind]

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?   )
1NCXw6rkcdfDuKRbhVhrshzHD9QQkQiVAr

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

FIRST GOAL TO REACH : 100.000 satoshi

You want to increase the value of BTC by reducing the circulated coins. We can also reduce the emission speed of BTC. For example, we can change the emission to 6.25 BTC per 10 mins intead of 12.5 BTC per 10 mins and make the half time every 8 years. This will slow down the emission but keep the total number of coins.

For the time being, when BTC is not popular, we need about 25*144*250 dollar to absorb the coins. That could be too high for the market at this stage.

[planetroving]

I don't think reducing the number of Bitcoins in cicrulation will actually see the price higher. Also, as many others here have said, this is likely to be a scam, for the user to earn some easy Bitcoins. Just my opinion.

[redsn0w]

Reducing supply does not  necessarily mean it will maintain or increase demand.

If you want to have a positive impact on the Bitcoin economy spend some coins.

I suggest the OP and all we to buy more bitcoin, this is the only valid way for increase the price (or better) the value of bitcoin itself. Destroy it will not raise the value (or at least not now, maybe in the next 20-25 years).

[chmod755]

I suggest the OP and all we to buy more bitcoin, this is the only valid way for increase the price (or better) the value of bitcoin itself. Destroy it will not raise the value (or at least not now, maybe in the next 20-25 years).

Buy more bitcoins if you have money you can afford to lose. I suggested 'spend bitcoins', even thought many merchants will sell those coins (Overstock keeps 10% in Bitcoin IIRC) - if they are seeing increased sales they will probably recommend Bitcoin --> increases the chance of more people using it.