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Author Topic: [ANN] [BARR] The Only Cryptocurrency Earned by Burning Multiple Altcoins  (Read 34554 times)
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casper77
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December 21, 2015, 02:30:19 AM
 #221

Quote from: BunnyShibe
for something worthless like BARR
BARR is NXT asset, NXT has POS, NXT price will rise up surely
does BUN have these advantages ?

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BunnyShibe
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December 21, 2015, 03:01:46 AM
 #222

Quote from: BunnyShibe
for something worthless like BARR
BARR is NXT asset, NXT has POS, NXT price will rise up surely
does BUN have these advantages ?

Bitcoin Core Developer Jeff Garzik says BEWARE of PoS alone...here's why...
https://bitcointalk.org/index.php?topic=68655.msg8851183#msg8851183

I'm not here to bash coins. Just to say BunnyCoin owners would be ill-advised to use BARR when they have the option to get more immediate value by selling for Dogecoin at any time they want.



.

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December 21, 2015, 01:13:14 PM
 #223

This coin is making a public service in altcoin comunity, i want to thanks to dev and coin supporters for clean the dirty on criptocoin universe, keeps the good work


Thanks!

Burning Altcoins for Redemption and Reduction - http://barr.me
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December 21, 2015, 01:31:34 PM
 #224



Bunnycoin owners are ill-advised to use BARR



They don't have to take anyone's advice.  They can see for themselves what BARR has done for other coins.

BARR has raised the price and increased the rarity of the supply for 5 coins already.

Bunnycoin is dependent upon Bleutrade.  BARR is traded on the NXT blockchain, fully decentralized, and can never be delisted.

The BARR network is the NXT network, which has hundreds of active peers.  The Bunnycoin network is in danger, because there will be no more block rewards.  

When the Fractalcoin block rewards dropped, the blockchain stopped moving and it got delisted from Poloniex and Bittrex.  BARR swapped a lot of FRAC, letting people get their money back.  Now FRAC is only listed on Cryptsy, where there have been a lot of problems with withdrawals.  People who swapped their FRAC for BARR now have more options, more control over their money, and arguably a more promising future.  Bunnycoin is in a similar situation.




Quote
since they can merely BUY/SELL Bunnycoins immediately for Dogecoin right now in a liquid market...


BARR is the main group buying Bunnycoins right now.  When we started, there weren't even any orders at 1 Litoshi, and that's the lowest price possible on the Litecoin market.

So it's not very liquid, especially without BARR.





Quote
Value of 1 Billion Bunny Coins is approx $65 USD
https://bleutrade.com/exchange/BUN/DOGE

Why trade something of value like BUN for something worthless like BARR.


Actually 1 Billion BunnyCoins is currently worth less than $40.

The value of 1 Million BARR is approx $54,000 USD.  So 1 Bunnycoin is worth about a million times less than 1 BARR.

But we're going to offer a better exchange rate than that, paying you more for your BUN than what the current market price is.

To answer your question, the reason to trade for BARR is so you can transfer your value to something that has a better chance of existing 2 years from now.

But they don't have to trade for BARR.  They can trade us for DOGE or LTC.  




Quote
Sounds like the BARR voters were hating on a coin, much like Dogecoin was hated on.


If "hating" means "giving you money", then you have a non-standard definition of "hating".

Swapping for BARR is completely optional.  We're not forcing anyone to do anything, we're just offering them money.  


Burning Altcoins for Redemption and Reduction - http://barr.me
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December 21, 2015, 01:44:33 PM
 #225



I'm not here to bash coins. Just to say BunnyCoin owners would be ill-advised to use BARR when they have the option to get more immediate value by selling for Dogecoin at any time they want.



BunnyCoin holders are welcome to sell us all their BUN for DOGE, but that's only good while our money lasts.  We don't have enough BTC, LTC, or DOGE to buy the entire supply of BUN.  But we do have enough BARR to exchange for the entire supply of BUN, at an increased value for you.


Burning Altcoins for Redemption and Reduction - http://barr.me
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December 22, 2015, 05:37:01 AM
 #226

Have you ever entertained the idea of 2 day "FlashBurn" for coins that are no longer listed on Exchanges ?
Admittedly the exchange rate would have to be pitifully low, but it may work to draw attention to the project.

BLK  : BDixtCZLWG2M3uTCN1tqXSCu4chXnN5TgH            UNO : uZDvh8ZWMN859sksKqkoeUX3trazXro8MH
CDN : CduyH8dMb282mv8XTE2ZDqZ9H4yvnNDKXJ          BTC : 17QTs29kJtrowWL7mQ8NKZHSnMiT7QTW7m
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December 22, 2015, 11:41:04 AM
 #227

Have you ever entertained the idea of 2 day "FlashBurn" for coins that are no longer listed on Exchanges ?
Admittedly the exchange rate would have to be pitifully low, but it may work to draw attention to the project.


That might be possible, but the problem is making sure everyone knows about it.  It would only work if the community was still very active and had lots of holders still checking the ANN.

Burning Altcoins for Redemption and Reduction - http://barr.me
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December 22, 2015, 04:40:14 PM
 #228

BARR/Bunny can't we just get along?

Burns complement coins that are still viable and save bagholders of coins headed for the drain. 

PRoTIGERopenUNOSMCunic.zeit.TALK.GLCBCCBCT.emdASIC.SMART Observer op420UNO/XMR2.0sleepersdLEx◣table◣charity:UNOtek:UN<>EX<<>>
::::::  diction ::  :: top20cons ::  :: UNO tech :: UN<>EX :::CCtalk::::TOP50 :: BCC dir :: the media :: <<>>
✪ Pledges on the Record ✪ ✪ The Social Code of Noble Men of New & Old ✪ May2020BTC#18M◣◥◣◥◣◣◥◣◥ TALK CRjt8BZu5a7YYNc4yCXD9SqztQcSjwn5eZ ◣
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December 22, 2015, 04:50:59 PM
 #229

BARR/Bunny can't we just get along?

Burns complement coins that are still viable and save bagholders of coins headed for the drain. 


There is no feud with Bunnycoin.  We've been posting in their topic for over a month without any problems, but this guy who hasn't posted in 5 months just shows up today and starts complaining.  Other Bunnycoin holders have expressed positive opinions about working with BARR.

Burning Altcoins for Redemption and Reduction - http://barr.me
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December 22, 2015, 05:52:30 PM
 #230

good kick to lazy devs
very useful, nothing to say something else

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December 23, 2015, 06:09:28 AM
 #231

The voting is over for January, and the winners are Bunnycoin and Unitus as a Wild Card.
is exchange rate already known for BUN ?

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December 23, 2015, 03:43:51 PM
 #232

The voting is over for January, and the winners are Bunnycoin and Unitus as a Wild Card.
is exchange rate already known for BUN ?


No, we're still trying to see how much we can buy at what price, and how much money we'll be able to put on buy orders.

We'd like to shoot for 5 litoshis as the target price for BUN, but we can't guarantee that yet.

In the future, when we have more buywalls for BARR on the NXT Asset Exchange, we'll be able to set an exchange rate and let everyone else buy the altcoins.  Then they'll be able to trade for BARR, and they can dump as much BARR as they want, and burning the altcoins will be profitable for them as well as liquid. 

For now we can't do that, because we'd just be making up imaginary prices that we can't support.  It would be all talk;  we would just say "BUN is worth 5 litoshis" when nobody is even paying 1 litoshi.  That would be like an empty promise and a false way to determine BARR's value.  So we don't want to set a target price unless we have a chance of moving the market to that price and making it reality.

When BARR gets more users, we won't have to buy all the coins ourselves.  People who want BARR will show up and move the market, because they want to buy those coins and burn them for BARR.  And they will be profitable doing that up to the target price, or higher if the price of BARR goes up.

We have seen some good results this month with ACP.  We raised the price to 600, which was the target price and the equivalent value that we're exchanging ACP for BARR.  But now the price of ACP is much lower, and people have the opportunity to buy ACP cheaper and still trade it for the same amount of BARR. 

It looks like something similar might happen with BunnyCoin - there's no way to know what will happen, but it might happen similarly to what happened with ACP.  So, for example, if we set a target of 5 litoshis per BUN, and then people end up selling more than we can buy at that price, then anyone will be able to get a good deal on BARR by trading BUN that they bought at 3 litoshis.  Because BARR will still be redeeming it at the higher rate.  And then there is no telling what will happen to the price of Litecoin or Dogecoin, making BUN even cheaper on those markets.

To give an example of the numbers, if the target price was 5 litoshis, with BARR @ .00016btc, then the exchange rate would be set at 400,000 BUN for 1 BARR. 

Burning Altcoins for Redemption and Reduction - http://barr.me
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December 27, 2015, 04:52:48 AM
 #233


To give an example of the numbers, if the target price was 5 litoshis, with BARR @ .00016btc, then the exchange rate would be set at 400,000 BUN for 1 BARR. 



Looking at how the market has been going, we are probably going to set the target price of BARR much lower than that. 

We wanted to keep raising the price of BARR, but we don't want to set an unrealistic goal. 

We want to offer an increased price for the altcoins, but we don't have unlimited money. 

So lowering the price of BARR will allow us to offer a higher rate for the altcoins without overextending our funds as much.


Burning Altcoins for Redemption and Reduction - http://barr.me
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December 28, 2015, 09:17:19 PM
 #234

Burn redemption for ACP and LYB ends on the 30th.  Just over 48 hours to go.

Burning Altcoins for Redemption and Reduction - http://barr.me
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December 29, 2015, 11:17:38 PM
 #235

Alright, 24 hours to go for this burn period. 

Burn redemption for Bunnycoin and Unitus begins January 1st.

Burning Altcoins for Redemption and Reduction - http://barr.me
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December 29, 2015, 11:22:21 PM
 #236

Alright, 24 hours to go for this burn period.  

Burn redemption for Bunnycoin and Unitus begins January 1st.


it is going to be really interesting, i am gonna try to get some coins for join the burn, lol, it remember me to scouts night times.

Do we have some guide about how to burn the coins?

thank

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December 30, 2015, 12:09:34 AM
 #237

Alright, 24 hours to go for this burn period.  

Burn redemption for Bunnycoin and Unitus begins January 1st.


it is going to be really interesting, i am gonna try to get some coins for join the burn, lol, it remember me to scouts night times.

Do we have some guide about how to burn the coins?

thank


Message us here with the amount of coins you're going to burn. 
Then send your coins to the burn address, and message us again with the transaction ID and your NXT wallet address.

Full instructions are on Page 1 of this topic.

Burning Altcoins for Redemption and Reduction - http://barr.me
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December 31, 2015, 07:36:31 PM
 #238


To give an example of the numbers, if the target price was 5 litoshis, with BARR @ .00016btc, then the exchange rate would be set at 400,000 BUN for 1 BARR. 



Looking at how the market has been going, we are probably going to set the target price of BARR much lower than that. 

We wanted to keep raising the price of BARR, but we don't want to set an unrealistic goal. 

We want to offer an increased price for the altcoins, but we don't have unlimited money. 

So lowering the price of BARR will allow us to offer a higher rate for the altcoins without overextending our funds as much.





After further review, we're going to keep the rates high and see what happens.

So far we've been supporting the market with a lot of our own money, but we can't do that forever.  So we're going to try a different approach this time and see what happens.  There will be more room for fluctuations, and the price of NXT may be the biggest unknown factor in the near future.  If this month doesn't work so well, we'll learn from it and revise our plans next time.

So we'll set a target price for BUN at 5 litoshis, but we won't raise the market that high.  That will allow people to buy for 2 litoshis and exchange for BARR at that rate.  But we'll also set a target for BARR at 16,000 satoshis, and we won't raise the market that high unless NXT goes up.  And the target for Unitus will be 320 satoshis.



So the rates for January 1st to January 30th will be:

Bunnycoin at .0000025 BARR, or 400,000 BUN per BARR

Unitus at .02 BARR, or 50 UIS per BARR

and OFFS at 1.25 BARR, or .8 OFFS per BARR



The burn address for Bunnycoin is BTngbpkVTh3nGGdFdufHcG5TN7hXYuX31z

The burn address for Unitus is UMz1xPGbHGWacUUtfXefyXWVoJX9Q2kNtF

The burn address for BARR is NXT-HD9P-ZTPP-EHFJ-59VUC


Burning Altcoins for Redemption and Reduction - http://barr.me
casper77
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January 01, 2016, 03:19:16 AM
 #239

well well
not so profitable as ACP but...
catch first (maybe) amount ! (block explorer does not respond)
good work

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January 01, 2016, 11:04:33 AM
 #240

Ok, I'm ready to burn my BUN for BARR:

I have 2.5 million BUN sitting in the Bleutrade Exchange.

I've sent to the burn address you gave as:
BTngbpkVTh3nGGdFdufHcG5TN7hXYuX31z
---------------------------------------------------------------------------------
Here are the transaction details as given by bluetrade:
70616160    2016-01-01 11:00:15    -2500000.00000000    Withdraw: 2499999.90000000 to address BTngbpkVTh3nGGdFdufHcG5TN7hXYuX31z; fee 0.10000000
61747023    2015-07-04 17:17:04    2500000.00000000    Trade +, order id 5758356

------------------------------------------------------------------------------------

My NXT address is:
NXT-JWNL-6XRL-HR5Z-FVN6N

Many thanks

Hope it works!
Happy New Year!

ps. Looks like I might be the first? Smiley
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