[PRE-ANN] Burn All Coins (BAC)

[borzalom]

Pre Announcement: Burn All Coins (BAC)

Fair Mining, Fair Launch, No ICO
This coin will be a good coin to learn how to make one from scratch.

The official source code repository is https://github.com/borzalom/bac at Github.

Developement in progress...
Public test launch coming soon.

Lead Developer: borzalom

Technical specifications:
- open source code (MIT)
- only secure basic functions ( send and receive coins )
- very easy usage
- blockchain is completely decentralized
- issued all available coins in the genesis block
- coins are stored on the network
- fees earned by miners
- mixed mining system
- no local wallet the coin uses a "brain wallet"

Temporary functions ( After distribution out these functions will be removed )
- long and fair distribution
- centralized asset issuing
- decentralized asset exchange
- automated asset buying system
- automated node bounty

How do I get my first coins ?

- Contribute to the community and earn some coins for your work.
- Running nodes and you will get node bounty
- Buy issued assets ( any coin accepted )

Exchange available only after all coins distributed.

If you have any ideas then let me know !

NOTE: This forum is self-moderated in order to keep discussion productive.

[1714722433]

1714722433

[Sir_Astral]

Algo?

[borzalom]

Algo?

see the source code ;-)   
https://github.com/borzalom/bac/commits/master ( Adding base crypto functions )
SHA-256 and Curve25519

[jimlite]

No info, no mining, no English?

[tbearhere]

No info, no mining, no English?

It's a pre-ann jimlite... he's working on it still.



RESERVED

[borzalom]

No info, no mining, no English?

English isn’t my first language, so please excuse any mistakes.

[billotronic]

can you expand on this:

"- Buy issued assets ( any coin accepted )"

does that mean ANY coin? or will it just be a lot of accepted coins?

[borzalom]

can you expand on this:

"- Buy issued assets ( any coin accepted )"

does that mean ANY coin? or will it just be a lot of accepted coins?

Any. Including dead coins too. ( If possible send.)

[kondiomir]

[billotronic]

can you expand on this:

"- Buy issued assets ( any coin accepted )"

does that mean ANY coin? or will it just be a lot of accepted coins?

Any. Including dead coins too. ( If possible send.)

Interesting.

Ok, I will bite. How do you propose maintaining any sort of value when you will accept anything? There has to be some sort of requirements involved or you'd just be trading crap for crap.

[logocreator]

Nice, when is launch, i have some coins to burn

[cisahasa]

"NOTE: This forum is self-moderated in order to keep discussion productive."

[bit1]

Really bad idea burn a coin for another.    He took idea of BARR I guess. Cryptoclub another example.
 

To me is not approved.

[BitcoinNational]

Really bad idea burn a coin for another.    He took idea of BARR I guess. Cryptoclub another example.
To me is not approved.

bump
yes this seems to be a riff/rip off the BARR and Cryptoclub concept
only with vague details and no clarity on process :/

[zodiac3011]

This concept is somewhat alike the new released coin - BARR, but without the running the node part. Looks like proof of burn is the new trend now. 2 coin in a same week. Anyway, will wait for this as this has some potentials

[wildduck]

It has potential but we will see.

[tbearhere]

Really bad idea burn a coin for another.    He took idea of BARR I guess. Cryptoclub another example.
 

To me is not approved.

We will burn old and new coins for an asset ....not a coin. And it should be mineable also.....not sure he is still working out the details.

[BARR_Official]

If you haven't even thought about the details, how do you know it will work?  

You don't even know what you're going to do, but you're doing it anyway?

How will you prove burn for cryptonote coins?  They don't have burn addresses.  Even if they did, you wouldn't be able to prove how many coins were sent.  There are a lot of cryptonote coins.

How will you prove burn for coins that don't have a block explorer?  Can you host block explorers for 200 different coins, just so you can exchange them?  Or are you not really going to accept every coin?

If a coin's price changes every day, will you change your exchange rate every day for all 1200 altcoins you accept?

If a coin is delisted from all exchanges, how will you determine the exchange rate?

How many millions of dollars would your coin have to be worth to exchange it for every altcoin?  If you're using your coin to buy all other coins, then you're saying it can do what Bitcoin does on every exchange.  Do you honestly think your coin can replace Bitcoin? 

Can I launch a new coin, premine 100 Billion of them, and then exchange them all for your coin?  Can I do it with a new coin every day?  What about 10 times a day?

What about forked coins?  Some altcoins have multiple forks, so you'll need to have an explorer for each fork.  You'll also need to honor the same person's coins on each fork.  

What if people burned coins last year for another reason, will you honor those burns?

What if they just burned their old NAUT in exchange for the new NAUT - they still burned coins, and you say you accept all coins.  Will you honor burns for all coin swapovers to new blockchains?  

What if they just do a snapshot, and they get their new coins without burning the coins from the old blockchain.  Those are coins, and you accept all coins.  Will you trade your coin for old worthless coins everytime a coin does a snapshot process?

Will you merge-mine with BARR, when people burn their altcoins with BARR's process that already works and is launching in 3 days, already listed for trade on the NXT exchange?

If you want to see how a serious project works, this is our ANN:  https://bitcointalk.org/index.php?topic=1219460.0

[zodiac3011]

If you haven't even thought about the details, how do you know it will work?  

You don't even know what you're going to do, but you're doing it anyway?

How will you prove burn for cryptonote coins?  They don't have burn addresses.  Even if they did, you wouldn't be able to prove how many coins were sent.  There are a lot of cryptonote coins.

How will you prove burn for coins that don't have a block explorer?  Can you host block explorers for 200 different coins, just so you can exchange them?  Or are you not really going to accept every coin?

If a coin's price changes every day, will you change your exchange rate every day for all 1200 altcoins you accept?

If a coin is delisted from all exchanges, how will you determine the exchange rate?

How many millions of dollars would your coin have to be worth to exchange it for every altcoin?  If you're using your coin to buy all other coins, then you're saying it can do what Bitcoin does on every exchange.  Do you honestly think your coin can replace Bitcoin? 

Can I launch a new coin, premine 100 Billion of them, and then exchange them all for your coin?  Can I do it with a new coin every day?  What about 10 times a day?

What about forked coins?  Some altcoins have multiple forks, so you'll need to have an explorer for each fork.  You'll also need to honor the same person's coins on each fork.  

What if people burned coins last year for another reason, will you honor those burns?

What if they just burned their old NAUT in exchange for the new NAUT - they still burned coins, and you say you accept all coins.  Will you honor burns for all coin swapovers to new blockchains?  

What if they just do a snapshot, and they get their new coins without burning the coins from the old blockchain.  Those are coins, and you accept all coins.  Will you trade your coin for old worthless coins everytime a coin does a snapshot process?

Will you merge-mine with BARR, when people burn their altcoins with BARR's process that already works and is launching in 3 days, already listed for trade on the NXT exchange?

If you want to see how a serious project works, this is our ANN:  https://bitcointalk.org/index.php?topic=1219460.0

I agree with BARR_Official. You create a coin that is under development but it is really really alike the BARR coin but you have no plans not even a single white paper showing that this coin is unique not a copy of BARR

[tbearhere]

Have a wheel or hammer crushing old coins for display and spitting out new BAC with your image.
What do you think and maybe change the wording order from all coins  burn to  burn all coins. With burn all at the top and all coins at the bottom.