destroying bitcoins

[flyingplows]

There is no need to destroy anything Keep your calm If! If btc is to take global dominance the price will rise no matter what It doesn't matter if the price today is 50$ higher or lower There is a big road ahead of us, don't panic There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed Keep it cool guys

[abyrnes81]

There is no need to destroy anything Keep your calm If! If btc is to take global dominance the price will rise no matter what It doesn't matter if the price today is 50$ higher or lower There is a big road ahead of us, don't panic There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed Keep it cool guys

Woouw such emoticon, only one question: will you use bitcoin if tomorrow the price will be 100 dollars? Yes or No. I hope you will reply to my question with a full explanation (and please don't use a lot of smilies,thanks).

[flyingplows]

There is no need to destroy anything Keep your calm If! If btc is to take global dominance the price will rise no matter what It doesn't matter if the price today is 50$ higher or lower There is a big road ahead of us, don't panic There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed Keep it cool guys

Woouw such emoticon, only one question: will you use bitcoin if tomorrow the price will be 100 dollars? Yes or No. I hope you will reply to my question with a full explanation (and please don't use a lot of smilies,thanks).

It is a simple answer really I bought some bitcoins so I would be sad a bit about 100$ price, but not that much since I would think the price would go up
As to using them I can't even see how that is an issue; that is if you want to USE bitcoin - you can use it no matter the price. Just buy it for a current price and use it for a current price, whats the problem there Ups... those emoticons...

[el kaka22]

haha if I had I would send some bitcoin to that wallet, even though it's your
 don't need to do anything like that, just relax OP .. we know at this time we had a low price. but still believe someday the price will go back.. just be patience

[Dotakels]

Be patient. Everything hasl change.

[johnyj]

Similar to diamond dealers lock up most of the diamonds and sell only a few at high price

[redsn0w]

Similar to diamond dealers lock up most of the diamonds and sell only a few at high price

Maybe you are correct, but remember that diamond or gold are not similar to bitcoin so your thought is not 100% valid.


Ps: destroy it or "hide" hold a part doesn't necessary rise the price (at least here with btc).

[Cluster2k]

Another day, another scammer trying desperately to run a scam.  The major problem with bitcoin is that it's a scammer's delight.  A honey pot for fraud.  If the OP actually wants to increase the value of bitcoins then how about starting a business that provides real value?

[johnyj]

Another day, another scammer trying desperately to run a scam.  The major problem with bitcoin is that it's a scammer's delight.  A honey pot for fraud.  If the OP actually wants to increase the value of bitcoins then how about starting a business that provides real value?

The current problem is not lacking of business that provides real value, in fact there are too many of them and they are going bankrupt because people don't have enough money to spend. Increase the bitcoin price will give people more money to spend, thus save those businesses 

Just like creating more USD will stimulate economy, higher bitcoin value will stimulate economy too 

[bitpop]

I've destroyed some earlier

[sgk]

I notice the OP has replaced his own address with the known Bitcoin Eater address now:
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE

Probably he wasn't aware earlier that there was already a Bitcoin Eater address.

So it is no more a scam, but still I see no reason for the price to go up just by limiting the available quantity.
There are millions on coins in existence, a few coins distroyed here and there can't make much difference.

[EcuaMobi]

I notice the OP has replaced his own address with the known Bitcoin Eater address now:
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE

Probably he wasn't aware earlier that there was already a Bitcoin Eater address.

So it is no more a scam

This happened:
https://bitcointalk.org/index.php?topic=1008093.msg10941590#msg10941590

[sgk]

I notice the OP has replaced his own address with the known Bitcoin Eater address now:
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE

Probably he wasn't aware earlier that there was already a Bitcoin Eater address.

So it is no more a scam

This happened:
https://bitcointalk.org/index.php?topic=1008093.msg10941590#msg10941590

Wow..  glad to see you went that extra mile to stop him from scamming everyone.
Although it is also sad that people like him acn abuse the trust system to the full extent and blackmail people on this regard.

I guess I can no longer give him a benefit of doubt. He purposefully tried to scam people. I hope nobody sent any satoshi to the old address.

[Amph]

better to destroy fiat and decrease inflation, thus making fiat stronger and as a  consequence bitcoin also

bitcoin are too precious too be destroyed

[bitpop]

better to destroy fiat and decrease inflation, thus making fiat stronger and as a  consequence bitcoin also

bitcoin are too precious too be destroyed

Fiat is like paycoin, 350% more printed per day, destroying does nothing

[ashour]

better to destroy fiat and decrease inflation, thus making fiat stronger and as a  consequence bitcoin also

bitcoin are too precious too be destroyed

Exactly bitcoin has a limited supply of 21 million coins which is really low. By burning coins juts cause a deflation to the bitcoin economy which isn't good at all. Burning coins would be helpful if the supply was inflated which is not the case here.

[RodeoX]

Let's try it with gold next. Start destroying all your gold (I don't even know how). If we each destroy one ounce of gold I will be richer in no time.  

P.S. You have a lot of work ahead if you hope to change the price of bitcoin. You have done 10 Satoshi so far that = USD $0.0000217660. Not even close to one single penny.

Compare that to like 3600 BTC produced per day. You are going to have to convince people to destroy about $7,000 dollars worth of BTC per day to have any impact. Good luck.

[ibminer]

I realize this is not a logical solution but if we really wanted to do this could we not essentially accomplish the same thing by changing Bitcoin itself, increasing the transaction fee by .001 and discarding it?  Obviously screws with the whole concept of Bitcoin, but the point is... don't send this guy any coins! 

[bitpop]

I realize this is not a logical solution but if we really wanted to do this could we not essentially accomplish the same thing by changing Bitcoin itself, increasing the transaction fee by .001 and discarding it?  Obviously screws with the whole concept of Bitcoin, but the point is... don't send this guy any coins! 

Nah we only have one more dea auction and halving next year, we're almost there.

[Lauda]

Let's try it with gold next. Start destroying all your gold (I don't even know how). If we each destroy one ounce of gold I will be richer in no time.  

P.S. You have a lot of work ahead if you hope to change the price of bitcoin. You have done 10 Satoshi so far that = USD $0.0000217660. Not even close to one single penny.

Compare that to like 3600 BTC produced per day. You are going to have to convince people to destroy about $7,000 dollars worth of BTC per day to have any impact. Good luck.

Well that just bring us back to the core of economics. Is deflation really bad or good?
I'd definitely not advise the destruction of a limited currency such as Bitcoin. Luckily it can be divided, because 21 million wouldn't be enough otherwise.