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Author Topic: [ANN] [BARR] The Only Cryptocurrency Earned by Burning Multiple Altcoins  (Read 35634 times)
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January 23, 2017, 12:06:45 AM
 #501

This is definitely an interesting idea (and one that could very potentially work)! I like NXT/Ardor, but both BARR and OFFS are user issued NXT assets, which I do not like. If you ever decide to implement this idea with its own side-chain/ledger, I would definitely be interested. Any chances of something like that happening?

Foobar cant be an appealing idea, its snip, nothing, null foo - barrrrrrr As u purchased it u should be aware that u did a favor to someone trying to get rid off that garbage at any cost, by putting ur investment in danger of disappearing. Im not ur buddy and wont give u a free advice, but be man and dont cry next time when u get burned and resort to begging money on the streets, resulting in u being killed by police or other beggars that dont like competition while asking for money.

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January 23, 2017, 12:09:13 AM
 #502

That's why we've voted to burn nothing for the next burn period, and those votes roll over until someone else spends enough BARR to outvote the votes for "nothing".  In order to outvote us, someone would have to buy some BARR.  Buying BARR is what needs to happen before we can burn any more coins.  If they want us to help them and their coin, they first have to help us and our coin.

Have you considered speaking to the development team at BeginnerCoin? Their premise is to develop an altcoin that gets average people to understand cryptocurrency. From what I understand, they've been going through some rough times right now. They have maybe one or two exchanges trading their coin and I think the one third-party mining pool that supported them dropped out on their coin. Right now, most people are solo mining on their wallets (since it's a SHA-256d coin, that's practically unprofitable). Maybe you can speak with someone on their dev team and maybe you could reach some mutual agreement.

Here's their website:
http://www.beginnercoin.com



Thanks, looks interesting and we'll check it out.  We always need good recommendations for coins to burn.

Burning Altcoins for Redemption and Reduction - http://barr.me
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January 23, 2017, 12:22:53 AM
 #503

This is definitely an interesting idea (and one that could very potentially work)! I like NXT/Ardor, but both BARR and OFFS are user issued NXT assets, which I do not like. If you ever decide to implement this idea with its own side-chain/ledger, I would definitely be interested. Any chances of something like that happening?



We've always kept open the ability to switch our entire operation to another blockchain, but for now there wouldn't be many advantages.

The NXT blockchain has hundreds of active nodes at all times, and has top-notch active development.  We get all the benefits of that for the low price of 1 NXT per transaction.  Every BARR transaction is transparent on the NXT blockchain, and we get more security and stability than we would otherwise have at this point.

Most importantly, BARR can never be delisted from trading as long as NXT exists.  We burned Keycoin and Fractalcoin and Sapience AIFX, and many of those coins were lost at Cryptsy.  But no BARR was ever lost at Cryptsy, because we've never needed to trust a centralized exchange with our money.  The people who didn't lose their KEY and FRAC and XAI at Cryptsy still can't trade it anywhere, and most likely they can't even send it because those networks and blockchains are pretty much dead with no devs to fix them.

Ideally, our process would be fully decentralized at every step.  You send your altcoins to the burn address, and our blockchain would automatically issue you the corresponding amount of BARR.  But that is currently impossible, since it would require our blockchain to sync with every blockchain that we burn - our wallet would have to function as a wallet for every other coin, downloading the entire blockchain of each coin.  We would also have to hardfork every time we added a new coin, and it could require more storage space than Bitcoin and Ethereum combined.  Plus since our nodes would have to function as nodes for the altcoins we burn, we would actually be strengthening the networks of the coins we're trying to get rid of.  And even if we could do all of that, there would still have to be a centralized authority doing the hardfork every month, and a centralized authority setting the exchange rates on the blockchain.

As it is now, once you get your BARR you have the most decentralized coin possible.  It does everything other altcoins do, and you can also trade it on a decentralized blockchain with no middle-men. 

Burning Altcoins for Redemption and Reduction - http://barr.me
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February 10, 2017, 09:07:50 AM
 #504

BARR needs more BURN!


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February 13, 2017, 10:23:02 PM
 #505

Does anyone know when the next burn period will be and what coins will be burned? I've been having a hard time trying to find the list of coins to be burned right now. I want to know if I should invest in this asset, but I don't know what I should burn first. I feel like a dedicated blog or social media account would be good for conveying this info, as it appears to change at varying intervals of time.

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February 14, 2017, 01:25:53 AM
 #506

Does anyone know when the next burn period will be and what coins will be burned? I've been having a hard time trying to find the list of coins to be burned right now. I want to know if I should invest in this asset, but I don't know what I should burn first. I feel like a dedicated blog or social media account would be good for conveying this info, as it appears to change at varying intervals of time.
1. see the first page with eligible coin list
2. vote for preferred coin by your BARR
3. wait for burn period begins
4. burn

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February 14, 2017, 03:01:27 AM
 #507

Does anyone know when the next burn period will be and what coins will be burned? I've been having a hard time trying to find the list of coins to be burned right now. I want to know if I should invest in this asset, but I don't know what I should burn first. I feel like a dedicated blog or social media account would be good for conveying this info, as it appears to change at varying intervals of time.


The latest vote was to burn nothing, and the votes roll over until someone outvotes for a particular coin.  There probably won't be any burns next month.  If the price of NXT goes up significantly, it would increase our ability to burn more coins with larger marketcaps.  So right now we're mostly waiting for that to happen.

Burning Altcoins for Redemption and Reduction - http://barr.me
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February 14, 2017, 10:46:29 AM
 #508

Does anyone know when the next burn period will be and what coins will be burned? I've been having a hard time trying to find the list of coins to be burned right now. I want to know if I should invest in this asset, but I don't know what I should burn first. I feel like a dedicated blog or social media account would be good for conveying this info, as it appears to change at varying intervals of time.
The latest vote was to burn nothing, and the votes roll over until someone outvotes for a particular coin.  There probably won't be any burns next month.  If the price of NXT goes up significantly, it would increase our ability to burn more coins with larger marketcaps.  So right now we're mostly waiting for that to happen.
please don't say again that i'm a troll, maybe i don't understand your things at 100% still
but vote to "burn nothing" was a 23000 BARR at 24 january
at that time it was equal of 0.018 BTC
not so big amount but at the same time i have no certainty that someone will not vote by 25000 BARR to burn nothing after i vote by 24000 BARR to burn bla-bla-coin
so i'm losing 0.018 BTC if it will happens

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February 14, 2017, 11:50:44 AM
 #509

NXT is currently 800 satoshis, and BARR is currently over 10 NXT, which makes it over 8000 satoshis. 

So 23,000 BARR would be about 2 BTC, or about $2,000

Burning Altcoins for Redemption and Reduction - http://barr.me
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February 14, 2017, 02:32:51 PM
 #510

i was wrong on several decimals, this happens
so it says that i'm right much more

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February 14, 2017, 03:39:19 PM
 #511

more BURN,
then more BARR,
then the market gets some liquidity.

NXT assets need some trade action, BARR is a great project to fire up again.

 

PRoTIGERopenUNOSMCunic.zeit.TALK.GLCBCCBCT.emdASIC.SMART Observer op420UNO/XMR2.0sleepersdLEx◣table◣charity:UNOtek:UN<>EX<<>>
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February 18, 2017, 04:48:16 PM
 #512

more BURN,
then more BARR,
then the market gets some liquidity.

NXT assets need some trade action, BARR is a great project to fire up again.

 




We have plenty of buys and sells, everyone is welcome to trade - not that anyone could stop them, since it all happens trustless and decentralized on the NXT blockchain!

Burning Altcoins for Redemption and Reduction - http://barr.me
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February 19, 2017, 01:01:00 AM
 #513

This is nice I never even knew about this coin. Were does it trade though? On your site it says something about it being worth 10k for a Barr. How many bunny coins must I sell to get a Barr ?

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February 19, 2017, 03:39:21 PM
 #514

This is nice I never even knew about this coin. Were does it trade though? On your site it says something about it being worth 10k for a Barr. How many bunny coins must I sell to get a Barr ?



BARR is built on the NXT blockchain, so it trades within the NXT wallet on the decentralized asset exchange.  That's why it can never be delisted. 

Download at https://nxt.org/
Once you get NXT up and running, trading is very simple and easy. 

If you don't have a NXT wallet synced, you can use a web wallet like MyNxt.info

https://www.mynxt.info/asset/7823929696462256005



Unfortunately the burn period for Bunnycoin has ended.  So far we have burned each coin for 1 month and then stopped.

In January 2016 we burned Bunnycoin and Unitus.  We burned 11 Billion Bunnycoins which were worth about 3BTC at the time, about 12.5% of the entire Bunnycoin supply, and we burned 17 Million Unitus, which was 46% of the total coin supply and worth about 7BTC at the time.

Burning Altcoins for Redemption and Reduction - http://barr.me
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February 23, 2017, 05:15:05 AM
 #515

This whole BARR burning thing, to reduce the number of ridiculously-named alt-coins, seems like a worthwhile project.  Never could understand what the "value" of some funky-named alt-coin was anyways.  Got a trillion of them and what are they actually worth, anyways?  I mean, for example, you can still mine Teacoin (TEA), but it's absolutely worthless in every possible sense of the word.  The coin page is gone.  The Facebook page is dead.  But there are still people who mine/trade it for some insane reason that defies human logic.

How is the BARR thing going anyways?  Is it successful or just a nice idea that isn't getting the traction it aimed for? Can we ever out-burn all the existing lame alt-coins out of existence or are there some that will always keep making more, to offset the lost ones?  In other words, can we win this war, or is it a lost cause?

I still believe the only way to create a coin that has any real value, is to create a coin that is designed to transact a very specific type of item or form of business and was intentionally self-limited (you can't have a 100 million of them).  For example, if you created a coin that was specifically designed to buy/sell lemonade... let's call it lemonadecoin (LAC).  And you had a preset value of 100 LAC for 1 glass of lemonade.  You can ONLY buy lemonade with the coin, so you don't have any reason to have 50,000 of them.  How much lemonade are you planning on buying?

But, because the coin is specifically designed to transact a specific item, even if it goes on an exchange and becomes worth only 1 satoshi (essentially worthless) and gets delisted, it STILL has value, because you can still buy lemonade with it, from other vendors, who are part of the network.  If you create an economy of like-minded individuals seeking the same goal, it can never die, even if outsiders deem it worthless, because as long as any two are willing to transact business in that economy... it lives on.  And who doesn't like good, old fashioned homemade lemonade, eh?  :-D 

I have two "coins" in mind, fashioned for two specific purposes.  But haven't been able to get much traction from people.  It's tough being the Little Red Hen, full of barn animals that don't want to help do anything, except EAT the bread, after all the work leading up to that point, is done.

If anyone has coin-working skills and would like to know more about my ideas, just let me know or Email me.  Perhaps the death of "silly alt-coins" is simply in revealing them for how actually useless they really ARE!  We can always hope! :-D
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February 23, 2017, 06:10:07 AM
 #516

OP, Can you post the list of Coins you presently accept for BARR Burning?

                                 
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February 27, 2017, 07:12:49 AM
 #517


How is the BARR thing going anyways?  Is it successful or just a nice idea that isn't getting the traction it aimed for?


It's been successful as far as maintaining its value and burning a lot of coins, but it hasn't gotten enough traction to see lots of users and lots of volume.  So that has also limited how many coins we can continue to burn.




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Can we ever out-burn all the existing lame alt-coins out of existence or are there some that will always keep making more, to offset the lost ones?  In other words, can we win this war, or is it a lost cause?


I think if crypto and Bitcoin continue to gain new users, there will be new targets for scam coins.  But the more mainstream Bitcoin becomes, the more awareness there will be about scam coins and there won't be as many people interested in every new altcoin.  So if there are no new people putting money into new coins, the new coins will start to dry up.  That still leaves the older coins that lots of people have already sunk their money into, and that's what BARR helps with.



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I still believe the only way to create a coin that has any real value, is to create a coin that is designed to transact a very specific type of item or form of business and was intentionally self-limited (you can't have a 100 million of them).  For example, if you created a coin that was specifically designed to buy/sell lemonade... let's call it lemonadecoin (LAC).  And you had a preset value of 100 LAC for 1 glass of lemonade.  You can ONLY buy lemonade with the coin, so you don't have any reason to have 50,000 of them.  How much lemonade are you planning on buying?


Lots of altcoins have been launched for buying marijuana, or urea, or other commodities or goods and services.  But Bitcoin can already buy all those things, so there has been limited interest.  A more successful type of currency is "company store money" - instead of having money that can only buy one thing, you have one thing that can only be bought with that money.  Microsoft points, Linden dollars, online services that only accept Bitcoin;  people buy these currencies because they need them to get what they want.  So if you have a website selling something that people want, and you only accept your own altcoin, then you will have as many altcoin adopters as you have customers. 


Burning Altcoins for Redemption and Reduction - http://barr.me
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February 27, 2017, 07:30:37 AM
 #518

OP, Can you post the list of Coins you presently accept for BARR Burning?



There is a list on Page 1 of this topic, but it is outdated.  It takes a long time to go through each coin and make sure there's a working explorer and no blockchain problems and that it's still listed on current exchanges.  Our original list required several weeks of man-hours to research every coin listed on Coinmarketcap.com, and some that weren't listed there, and determine which ones fit the criteria for BARR burn redemption.

Until we overhaul and update the list, we're just taking any suggestions and looking at any coin that people express interest in burning.

Burning Altcoins for Redemption and Reduction - http://barr.me
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March 05, 2017, 05:29:25 PM
 #519

Someone told !e the Barr burning is over so all my useless coins remain useless. This threads died now and noone seems to want to help me. I see no point of keeping this thread lice please close it. Thank you.

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March 09, 2017, 05:22:29 AM
 #520

Someone told !e the Barr burning is over so all my useless coins remain useless. This threads died now and noone seems to want to help me. I see no point of keeping this thread lice please close it. Thank you.




You do see a point in keeping this thread going, because you did.  Thanks!

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