what if a new cryptocurrency had this new feature?!?!

[amiodarona]

hello fellas!

just a quick newbie suggestion and/or question:

what would you think if a new currency had this features:

- a limited amount of currency can be made, just like bitcoin.
- but each time a new transaction is made, a small percent from that currency (5-10%) is somehow destroyed so it can be mined once again by any miner.

?!?!
later edit: that percent is related to the transaction.
so: i sent 100 "miracle"currency to someone. he receives 90 of them and 10 are destroyed.
 

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[SubversiveTech]

If there's a premine of 10% and an IPO I would put my pension fund in.

[monsterer]

hello fellas!

just a quick newbie suggestion and/or question:

what would you think if a new currency had this features:

- a limited amount of currency can be made, just like bitcoin.
- but each time a new transaction is made, a small percent from that currency (5-10%) is somehow destroyed so it can be mined once again by any miner.

Code:

for (;;)
{
   sendTransactionToSelf();
}

result: 0 currency supply.

[amiodarona]

hello fellas!

just a quick newbie suggestion and/or question:

what would you think if a new currency had this features:

- a limited amount of currency can be made, just like bitcoin.
- but each time a new transaction is made, a small percent from that currency (5-10%) is somehow destroyed so it can be mined once again by any miner.

Code:

for (;;)
{
   sendTransactionToSelf();
}

result: 0 currency supply.

i'm just clueless about what you are saying

[bathrobehero]

So essentially the transaction fees would be stupidly high which prevents mainstream use.

If there's a premine of 10% and an IPO I would put my pension fund in.

Such as the way of gamblers.

[amiodarona]

the transaction fees can be adjusted to 1% or 0.0000001%, but that's not the point that im trying to make.

the point is that by auto-destroying a small part of currency, there is always an opportunity and reason to mine.

[TPTB_need_war]

- but each time a new transaction is made, a small percent from that currency (5-10%) is somehow destroyed so it can be mined once again by any miner.

For the record, I proposed this feature before.

[tacotime]

freicoin

[I am the guy]

cool idea. I know that Vericoin POS "burns" staked coins and after N confirmations the stake balance returns as new coins (into the wallet).