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Author Topic: [ANN] [BARR] The Only Cryptocurrency Earned by Burning Multiple Altcoins  (Read 35709 times)
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BARR_Official
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February 14, 2016, 09:55:13 AM
 #321

We have burned 2,000,000 BSC, which is over 37% of the supply, with a current value of approximately $3200.

Less than 5% of all BowsCoins remain in circulation outside the top 10 addresses.

http://richlist.cryptobe.com/BowsCoin






because everyone needs a felt patch,
just started an auction for the necessary 10K BSC to get your own favourite coin icon made up.

we will give you the voucher, then you can give it to Bowscoin dev with your specific request Smiley

...

NOTE.
the 10K BSC will come as a yobit code.
currently their wallet is offline and taking advantage of the BARR swap may not be possible.




Remember not to buy or accept any so-called BSC BowsCoins at YoBit unless they get their wallet online.
If you can't withdraw it, you don't actually have any real BSC. 
And their wallet has been offline since last year.

C-Cex is currently the only market where you can deposit and withdraw BSC, so that's where the trading is.
The market at YoBit says someone just bought exactly 10,000 BSC today, between 65 and 84 satoshis,
while BSC has been 400 satoshis at C-Cex for the past 7 days in a row.

So if someone offers you BSC at YoBit, remember that they probably just bought it for 80% less than the current market rate because it can't be withdrawn.

Burning Altcoins for Redemption and Reduction - http://barr.me
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February 15, 2016, 03:45:17 PM
 #322

Voting for March will end at 00:00 UTC on March 1.

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February 20, 2016, 05:03:59 AM
 #323

Bunnycoin should be cross out from eligible list, isnt it ?

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BARR_Official
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February 20, 2016, 07:16:46 PM
 #324

Bunnycoin should be cross out from eligible list, isnt it ?


Yes, that is correct.

Burning Altcoins for Redemption and Reduction - http://barr.me
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February 23, 2016, 04:52:19 AM
 #325

Bunnycoin should be cross out from eligible list, isnt it ?
Yes, that is correct.
why it is still not crossed out ?

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February 23, 2016, 12:12:17 PM
 #326

Bunnycoin should be cross out from eligible list, isnt it ?
Yes, that is correct.
why it is still not crossed out ?


The data review for this cycle's update processing is still in secondary phase.

Burning Altcoins for Redemption and Reduction - http://barr.me
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February 25, 2016, 10:01:09 PM
 #327

I've voted for ChainCoin CHC as the coin for March.

ChainCoin trades at C-Cex and Cryptopia.

Remember the new schedule is: 
Voting ends at 00:00 UTC on the 1st of each month,
and burn exchange now goes from the 14th through the 28th of each month. 

BARR - Burning Altcoins for Redemption and Reduction - First Coin Using Multi-Proof-of-Burn - http://barr.me - Raising the BARR by Reducing Supply - Absorbing and Destroying Entire Altcoin Networks
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February 26, 2016, 12:36:23 AM
 #328

what will be CHC/BARR exchange rate ?

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February 26, 2016, 12:51:13 AM
 #329

what will be CHC/BARR exchange rate ?



Hopefully it will be pretty good.  We'll try to set the rate on or before the 7th. 

BARR - Burning Altcoins for Redemption and Reduction - First Coin Using Multi-Proof-of-Burn - http://barr.me - Raising the BARR by Reducing Supply - Absorbing and Destroying Entire Altcoin Networks
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February 28, 2016, 05:03:12 AM
 #330

Alright, only a few hours to go before February burn redemption ends for BowsCoin and BARR/OFFS.

Burning Altcoins for Redemption and Reduction - http://barr.me
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February 28, 2016, 05:21:31 PM
 #331

what will be CHC/BARR exchange rate ?



Hopefully it will be pretty good.  We'll try to set the rate on or before the 7th. 

Hard to see how you can maintain that stance, given the developments in Nxt assets. The Nxt dependency was always my biggest objection in principle to your approach.

What vote?

Cheers

Graham
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February 28, 2016, 05:34:13 PM
 #332

what will be CHC/BARR exchange rate ?



Hopefully it will be pretty good.  We'll try to set the rate on or before the 7th.  

Hard to see how you can maintain that stance, given the developments in Nxt assets. The Nxt dependency was always my biggest objection in principle to your approach.

What vote?

Cheers

Graham

I take your point re NXT assets, but dependency may not be a big issue. Maybe Jl777 will be giving an example soon!
How do you see the better approach, for BARR?

BTW....https://bitcointalk.org/index.php?topic=1372879.msg14039197#msg14039197
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February 28, 2016, 06:13:21 PM
 #333


What vote?




There's a voting process every month, it ends on the 1st at 00:00 UTC.

1 BARR = 1 vote, sent to the BARR Market Fund with a message attached naming the altcoin being voted for.
(NXT-59NQ-AA5B-V4NT-HAZLY)

The Market Fund exists only to trade BARR, and no BARR or NXT ever leaves that account unless it goes back to the Burn Fund.  So voting also acts as a donation that helps support the price of BARR.

After we get enough users in OFFS, we may transition to burning all BARR that comes into the Market Fund, swapping it for OFFS, selling the OFFS for NXT, and then using 100% of that NXT to buy BARR.  Then burning that BARR, etc.

So far nobody has voted except me, but it's still good because it's an open process that is available for everyone to see.


BARR - Burning Altcoins for Redemption and Reduction - First Coin Using Multi-Proof-of-Burn - http://barr.me - Raising the BARR by Reducing Supply - Absorbing and Destroying Entire Altcoin Networks
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February 28, 2016, 06:25:11 PM
 #334

what will be CHC/BARR exchange rate ?



Hopefully it will be pretty good.  We'll try to set the rate on or before the 7th.  

Hard to see how you can maintain that stance, given the developments in Nxt assets. The Nxt dependency was always my biggest objection in principle to your approach.

What vote?

Cheers

Graham

I take your point re NXT assets, but dependency may not be a big issue. Maybe Jl777 will be giving an example soon!
How do you see the better approach, for BARR?

BTW....https://bitcointalk.org/index.php?topic=1372879.msg14039197#msg14039197



Before BARR launched, we already created backup currencies for BARR and OFFS on the NXT Monetary System.
The NXT MS was supposed to eventually allow stand-alone wallets for currencies, and even independent PoW or PoS mining.

So we launched on the Asset Exchange, but ready to switch to another system if it ever proved beneficial.

If we need to switch to another platform, for any reason, we can easily do that.
The standard process would be even easier than the way we already burn altcoins and redeem them for BARR.

But jl777 has announced a new way to move assets between multiple blockchains,
meaning that we won't even necessarily need to rely on a single platform or blockchain.
Even if we launch our own blockchain and our own QT wallet,
people could be able to transfer BARR to a number of other blockchains.



BARR was designed from the start with the ability to migrate to another platform whenever necessary.
But NXT was supposed to be the only platform we needed.

We have burned roughly $40,000 worth of coins from 8 different altcoin blockchains,
and we have redeemed those coins on the NXT blockchain with BARR.

The idea was that, after the exchange process/cross-blockchain migration,
the BARR tokens would be just as decentralized as any other cryptocurrency.
More decentralized in fact, since they can be traded without trusting any exchange.

NXT claimed to offer a solution for permanent decentralized record-keeping,
and anyone can easily view our issuing account and find altcoin txids proving the burns to match every unit of BARR that has ever been issued.

But now NXT will not keep those records permanently on the blockchain.
If NXT makes any other catastrophic changes that negatively affect the value of the coins which have been transferred to the NXT platform,
we are fully willing and capable of moving the entire project to another platform.
We can do it in 1 day.

Of course, doing it the normal way would leave the possibility that such a migration might again become necessary in the future.

But if users are able to transfer their own assets to their blockchain of choice,
then the future of true decentralization has just exploded in ways we can only imagine.




Burning Altcoins for Redemption and Reduction - http://barr.me
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February 28, 2016, 06:36:50 PM
 #335

dependency may not be a big issue. Maybe Jl777 will be giving an example soon!

Er, how can dependency not be an issue when it's all dependent on what jl777 wants to do? As BARR notes, there's nothing to stop it happening all over again. It's a shame that realisation came so late.

Quote
How do you see the better approach, for BARR?

I don't agree with BARR's impoverished and unidimensional view of altcoins. BARR is exploiting disgruntled people who consider themselves to be “bagholders”, a sadly self-serving label that absolves them of all the responsibility that accrues to an investor in an endeavour. All they can see is short-term petty gain, not long-term deep influence and are condemned to be ever on the short end of the deal. I would think “good riddance” except for the deleterious effects on the coin supply wrought by artificially restricting availability, thus deepening the stagnation that the approach is supposed to relieve and deepening the divisions between the different interests that comprise an altcoin “community”.

The altcoin scene is corrosive and poisonous enough without further divisiveness being introduced and given a fake moralistic spin.


Cheers

Graham
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February 28, 2016, 07:30:25 PM
 #336

dependency may not be a big issue. Maybe Jl777 will be giving an example soon!

Er, how can dependency not be an issue when it's all dependent on what jl777 wants to do?


If jl777 launches a way to move assets between blockchains,
how is anyone dependent on him once it's been launched?

We swap coins that were dependent on deadbeat devs, dependent on Cryptsy or other exchanges.
Right now we're only dependent on the decentralized consensus of every NXT node.
We're no more dependent than any other cryptocurrency.




Quote
As BARR notes, there's nothing to stop it happening all over again. It's a shame that realisation came so late.


I noted that there's nothing to stop us from continuing BARR no matter how many devs change their plans.
It's a shame that you're trying to twist that into a negative.





Quote
I don't agree with BARR's impoverished and unidimensional view of altcoins.


Our view is that the money and work people have put into altcoins doesn't have to die when those altcoins die.

We have proven our view with real results, so where is your disagreement?




Quote
BARR is exploiting disgruntled people


Let's go over a list of what we do, and you tell me in what way we're exploiting anyone:

By filling their sell orders with Bitcoin, at higher prices than anyone else would pay?

By running the only working Keycoin node that can make more than 2 connections, 24 hours a day for over a year?

By using thousands of dollars worth of computer equipment to solo-mine coins with stuck blockchains?

By hosting Keycoin.us, Fractalcoin.us, Unitus.ninja, and Lyrabar.us?

By paying for block explorers for coins that don't have one?

By running community takeovers for coins with no devs, swapping coins for everyone who wants while allowing others to keep their coins if they want?

By launching the only cryptocurrency that doesn't create money from nothing where no money existed before?

By pouring our own money into BARR as fast as we can get it, for the past 5 months, without ever yet profiting 1 satoshi?

Which of those involves "exploiting" people?




 
Quote
who consider themselves to be “bagholders”, a sadly self-serving label


You're the one applying that label to them




Quote
that absolves them of all the responsibility that accrues to an investor in an endeavour.


But when we take responsibility and put a lot of work into a new project to make something of those investments,
you don't like that either. 

Is there any option in which you will label us neither bagholders nor exploiters?



Quote
All they can see is short-term petty gain, not long-term deep influence


So you're agreeing with BARR's long-term plans to make a positive influence, or not?



Quote
and are condemned to be ever on the short end of the deal.


Yes, some altcoin users are condemned to lose -
condemned by Cryptsy, condemned by devs, condemned by jaded bitcointalk users who say they'll never succeed.

You say they have no options, but BARR gives them an option.
Is that your complaint?  That we're proving you wrong?



Quote
I would think “good riddance” except for the deleterious effects on the coin supply


What coin supply?  The supply of altcoins? 

Are you saying there aren't enough altcoins anymore, because of BARR?



Quote
wrought by artificially restricting availability,


All the altcoins we've burned remained plentifully available after we were done.
To say that there was still more supply than demand is a vast understatement.



Quote
thus deepening the stagnation that the approach is supposed to relieve


Actually the price of Bitcoin has gone up. 

Do you have some data showing that we have deepened stagnation, or are you just making it up?




Quote
and deepening the divisions between the different interests that comprise an altcoin “community”.


In what world do different interests have no divisions between them?

The common interest of many altcoin holders is "not to lose all of our money", and BARR is bringing people together in that common interest.

I haven't noticed any arguments between the people running the 4 active Fractalcoin nodes and the people running the 4 active Keycoin nodes,
but perhaps you can lend your diplomatic skills to their "communities" and heal the dispute among these 8 people which was caused by BARR's exploitation.

Then maybe you can fix Cryptsy so they can have somewhere to trade their coins,
which IMHO might be a larger concern in their minds than your imaginary division between them.

Of course, BARR has already solved the problem for anyone who wanted it.
You can still fix Cryptsy if you want to provide a way to trade for users of Keycoin and Fractalcoin,
but remember that BARR has already done it better.









Quote
The altcoin scene is corrosive and poisonous enough without further divisiveness being introduced and given a fake moralistic spin.



Referring to your own post, then?

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February 28, 2016, 08:40:26 PM
 #337

dependency may not be a big issue. Maybe Jl777 will be giving an example soon!

Er, how can dependency not be an issue when it's all dependent on what jl777 wants to do? As BARR notes, there's nothing to stop it happening all over again. It's a shame that realisation came so late.

Quote
How do you see the better approach, for BARR?

I don't agree with BARR's impoverished and unidimensional view of altcoins. BARR is exploiting disgruntled people who consider themselves to be “bagholders”, a sadly self-serving label that absolves them of all the responsibility that accrues to an investor in an endeavour. All they can see is short-term petty gain, not long-term deep influence and are condemned to be ever on the short end of the deal. I would think “good riddance” except for the deleterious effects on the coin supply wrought by artificially restricting availability, thus deepening the stagnation that the approach is supposed to relieve and deepening the divisions between the different interests that comprise an altcoin “community”.

The altcoin scene is corrosive and poisonous enough without further divisiveness being introduced and given a fake moralistic spin.


Cheers

Graham

No. You misinterpreted. Its irrelevant what jl777 wants to do. I was using his intentions as an example of whats possible regarding dependency. But as BARR_Official has posted, dependency has been accounted for.

Er, negative much. I agree with some of it, but cant for the life of me see where BARR fits into the above narrative. Kinda wrong thread.
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February 29, 2016, 02:59:33 AM
 #338

We swap coins that were dependent on deadbeat devs

That's the impoverished, unidimensional perspective I meant. Idiosyncratic and simplistic definitions such as “deadbeat devs” and “dead coins” means that your targeting process is weak and that undermines both your principles and the effectiveness of your solution.

Why, for instance are you now targeting Chaincoin, there are 40 extant nodes - is that not enough for your demanding standards or is it that your selection process is so ill-conceived that it is basically random?

Cheers

Graham


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February 29, 2016, 05:04:03 AM
 #339

We swap coins that were dependent on deadbeat devs

That's the impoverished, unidimensional perspective I meant.


No, that's not what you meant.
You said your biggest objection to BARR was its dependency on NXT.
I explained why your point was a non-starter,
and now you're saying that your own arguments about dependency are
"impoverished, unidimensional, idiosyncratic, simplistic" and other big words that don't apply.

Does it offend you that I coined the term "deadbeat devs" to refer to people who launch a coin and then abandon it after a few weeks?
Would you like to offer some defense on their behalf?
Do you honestly fail to see the comparison to "deadbeat dads"?





Quote
Why, for instance are you now targeting Chaincoin


Now?  Chaincoin has been on our list since October, in Page 1 of this topic.
We had 50 votes for Chaincoin in December.

Why are you now questioning it?  (That's rhetorical;  obviously you're questioning it out of ignorance and pointless spite)

The fact is that we will burn any altcoin if it meets the requirements, up to and including Dogecoin and Litecoin.

So the answer to why we're burning Chaincoin is that it meets the requirements which hundreds of other coins do not.




Quote
is it that your selection process is so ill-conceived that it is basically random?


I could amuse everyone by asking you to suggest 10 better coins that aren't on our list,
and then I could explain to you why 8 or 9 of your choices wouldn't work.

But instead of proving how little you know about what is involved in a project like this,
I'll help you out and list some of our basic requirements for a coin:

#1, Its marketcap must be lower than the allocated amount of BARR, so that we can afford to swap the entire supply of the coin
#2, It must be listed on an exchange or otherwise available to be traded
#3, It must be functioning and have a working block explorer
#4, It must be at least 6 months old
#5, It cannot be able to regain the coin supply easily after we burn it, such as through high block rewards, high PoS, centralized issuance or checkpointing
#6, It cannot have a significant percentage of supply in premine held by devs, or otherwise likely benefit scammers through our swap
#7, There must be a reasonable likelihood that our efforts can result in a significant percentage of the coin supply being burned
#8, It must have a publicly verifiable method of burning coins
#9, Someone must spend BARR to vote for it, which means BARR's burns are determined by BARR users and no one else.

Now, even with the rules spelled out clearly to help you avoid the embarrassing suggestions you would have made,
you still can't come up with a better list of 100 coins than the list we made.

So no matter how many clever ways you come up with to call us stupid, we must be just a little smarter than yourself.
Unless you can suggest some better coins to burn?



Burning Altcoins for Redemption and Reduction - http://barr.me
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February 29, 2016, 05:19:00 PM
 #340

The February burn period has ended.

We burned over 2 million BowsCoins, 37.5% of the total BSC coin supply.
Less than 5% of all BowsCoins remain in circulation outside the top 10 addresses.

We also re-burned 50,000 BARR and redeemed them with OFFS,
bringing the total amount of BARR burned to over 22% of all the BARR that's been issued.

Burning Altcoins for Redemption and Reduction - http://barr.me
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