[ANN] [BARR] The Only Cryptocurrency earned 100% by Multi-Proof-of-Burn

[BARR_Official]

The dev for BITZ is looking for someone to takeover the coin.  I offered a BARR takeover.  Opinions?

https://bitcointalk.org/index.php?topic=954125.1220

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[EBK1000]

The dev for BITZ is looking for someone to takeover the coin.  I offered a BARR takeover.  Opinions?

https://bitcointalk.org/index.php?topic=954125.1220

BARR is just like any other crypto, just a different distribution by apparently swallowing up some minor alts, but consider the fact that the top 5 altcoins (Litecoin, Ethereum, Bitshares, Dash & Dogecoin) makes up about 97% of the total volume of traded altcoins so if Fractalcoin and Keycoin are wiped out it makes no difference to anything. It's just yet another fad in altcoin distribution.

If BITZ holders wants to swap for BARR that's up to them. I don't hold that many and I'll keep them.

[BARR_Official]

...

if Fractalcoin and Keycoin are wiped out it makes no difference to anything. It's just yet another fad in altcoin distribution.

#1, It makes a difference to holders of Fractalcoin and Keycoin.  Both of these networks are on the verge of collapse; when they eventually stop running, all holders will be stuck with their bags forever.  BARR can never stop running unless NXT stops running.  BARR can never be delisted, because its exchange is coded into the NXT wallet.


#2, There will always be fads.  Old coins will become briefly popular again, hyped and re-used for pumps and dumps...but not Fractalcoin or Keycoin.  Nobody will be able to dump them after we destroy their supplies.  

#3, BARR is the only way to earn Altcoin Offset Credits.

[BARR_Official]

Now the BITZ dev says instead of turning over the project to someone else, he'll exchange BITZ for other burned altcoins.  Maybe he'll accept BARR, it's too early to say:  https://bitcointalk.org/index.php?topic=954125.1220



And also there's a new Pre-ANN for something called BAC Burn All Coins, but they say they haven't decided how it will work yet.  I'm interested in their solutions to the problems we're working on:  https://bitcointalk.org/index.php?topic=1223028.msg12809972#msg12809972

[BARR_Official]

Alright, the list of ineligible coins is complete for now.  Check page 1, there are 400 coins listed, each with reasons for ineligibility.  

We need community feedback on any updated information, because some of it could already be changed by tomorrow.  A coin may become eligible if a new block explorer is brought online, or if other disqualifying factors are rectified such as Allcoin markets re-opening or coins getting re-listed on an exchange.  If a coin's marketcap is currently higher than we can afford, it could easily become available if its price falls. 

We will appreciate any corrections about information in our list which may be incorrect.

[BARR_Official]

We've also updated the list of eligible coins, which includes every coin at CoinMarketCap that appears to be ready for burn redemption.  There are 90 coins, including our 3 launch coins, and we've also added a list of 10 coins that could be eligible as Wild Cards. 

There is a real possibility that we can absorb large percentages of all 100 of these coins over the next 4 years.  We do hope to add more coins from the ineligible list if they become eligible, but we will not be adding any coins launched after 2015 until we've made significant progress on these existing coins. 

[BARR_Official]

Less than 72 hours til launch, get your KEY, FRAC, and XAI wallets synced!

[runpaint]

Does anybody else have some suggestions for our December coins?  Ideally we're looking for up to 6 coins plus a Wild Card.  We're leaning towards Lyrabar for the Wild Card, because we're anticipating enough surplus from the first burn period to afford that.  But we were waiting for some more feedback before we started deciding the regular coins for burn.  

If we don't get a few people making requests and/or voting in the next 2 weeks, we'll have to just have to decide some coins and go with them.  Maybe EMC2, Prospercoin, it looked like BITZ would be good, but if none of the community wants it then we'll probably look for something with a better chance of participation.  (Hopefully they'll realize that when your dev offers to give away the entire coin, and nobody even wants it for free, it might not be the time to turn down a good offer.)

It's still very early, so hopefully we'll get more people coming here with ideas after the launch gets going.  

[BARR_Official]

We've updated the OP with information about OFFS:  BARR Certified Altcoin Offset Credits.

OFFS are only earned by burning BARR, and act as a quantifiable measure of contribution to the crypto community.  The number of OFFS held by a person or group can be used as their Altcoin Offset Rating.  

We hope to establish OFFS as a credibility rating for all new crypto projects and developers, and that will create additional demand and a practical use for buying BARR.

For now the plan is to make them exchangeable, which allows us to issue OFFS as an actual asset which can be held apart from our database.  Anyone's claim of an Altcoin Offset Rating can be publicly verified in a decentralized process, simply by checking the OFFS balance in a NXT account.

[runpaint]

O ffs, there are too many altcoins already.  If you're going to release a new one, you could at least show that you've helped make room for it.  Prove you're serious, with OFFS.

[EBK1000]

... it looked like BITZ would be good, but if none of the community wants it then we'll probably look for something with a better chance of participation.  (Hopefully they'll realize that when your dev offers to give away the entire coin, and nobody even wants it for free, it might not be the time to turn down a good offer.)

It's still very early, so hopefully we'll get more people coming here with ideas after the launch gets going.  

I didn't offer to give away any BITZ, just the development responsibility. This would not come with BITZ. But, as you say, no takers, so we'll keep going ourselves.

[runpaint]

I didn't offer to give away any BITZ

Well I don't really want to argue about it, but you did say this:

Let's see, would you be interested in burning old coins for BITZ, we will offer a fair rate of exchange and will counter offers from BARR. What do you say?

You offered to give away enough BITZ to redeem a million FRAC @ 5000sats, a million KEY @ 5000, and 680,000 XAI @ 7500.

That's about 150 BTC worth of BITZ.

The current marketcap of BITZ is about 6 BTC, which means your offer was empty. 

BARR could offer a value of about 30 BTC for BITZ, which means it's a good deal for BITZ holders. 

[EBK1000]

One BARR appears to be worth 0.00002834BTC at this point in time and there are 10,000,000 BARRs out there



30BTC = 1,058,223 BARR

So how many BARRs per BITZ are you going to offer to BITZ holders?

Sorry if this is mentioned elsewhere, but how many BARR per FRAC will you offer?

[BARR_Official]

One BARR appears to be worth 0.00002834BTC at this point in time and there are 10,000,000 BARRs out there

Incorrect.  Where did you get that figure?  BARR is at 3.3 NXT, so it's more like .00009000 BTC.

And there are 0 BARRs currently out there in circulation, with a maximum of 1,500,000 issued by the end of the first exchange period, if we burn 100% of the supplies of KEY, FRAC, and XAI.

30BTC = 1,058,223 BARR

So how many BARRs per BITZ are you going to offer to BITZ holders?

Sorry if this is mentioned elsewhere, but how many BARR per FRAC will you offer?

You were the first person to respond on this topic, you've responded multiple times, and you're sure you don't want to participate.  You've even mockingly offered your own burn redemption to compete with BARR.

But you don't know the first detail about what we're doing?  You've declined our offer, but you don't know what the offer is?  You've offered to match our exchange for Fractalcoin, but you don't know what you're offering to match?  If you read the thread, maybe you'll change your mind about BARR.

We're offering to put up buywalls for FRAC at up to 5000 satoshis, and to exchange 1 FRAC for .5 BARR.  Our estimated price for BARR is 10,000 satoshis.  But since prices can change, and we're subject to the price of NXT, the price of BTC, the price of BARR, and the price of FRAC, the exchange rate is fixed for the 30-day burn period.  3 NXT was worth 10,000 satoshis when we set the exchange rate 2 weeks ago, but it's less now.  It could be a lot more than that by the end of the burn period, but there's no way of knowing.

So no matter what happens with any of the prices, we will honor all exchanges of FRAC at the set rate of .5 BARR per FRAC, or 2 FRAC for 1 BARR, and we will attempt to buy all FRAC at Cryptsy at up to 5000 satoshis, until the exchange period ends on November 30.

It's too early to set an exchange rate for BITZ for December, but one possibility is a value of BARR at 15,000 satoshis and BITZ at 1500, with an exchange rate of .1 BARR per BITZ, or 10 BITZ for 1 BARR.  That means all BITZ holders would have the opportunity to sell their BITZ for .00001500btc, or exchange it for BARR at the same value.  And then at the end of December, we would stop exchanging for BITZ and stop buying BITZ.

[BARR_Official]

36 hours until launch!

[BARR_Official]

Somebody else has announced that they want to have a coin to burn multiple altcoins.  That makes 3 copycats in less than 1 week since we started this ANN.

Why haven't any of them actually put any thought into it?  They're not even copying the important parts of what we're doing.


https://bitcointalk.org/index.php?topic=1231951

[EBK1000]

  I don't want to have an argument with anyone, I guess I was taken a bit by surprise by your proposals. I'll keep an eye on your project and see how it progresses and I wish you well...

[BARR_Official]

I don't want to have an argument with anyone, I guess I was taken a bit by surprise by your proposals. I'll keep an eye on your project and see how it progresses and I wish you well...

Thanks!  BITZ seems like a good coin, so you must be doing a good job.

[BARR_Official]

24 hours til launch!

[thefix]

24 hours til launch!

Good luck!

Hope things go big!