[PRE-ANN] PoW - PoS - PoB : Unlimited Supply : No Halving : Slow Distribution

[bit1]

A brand new digital cryptocurrency is about to launch and will have a fair distribution. Credits can be earned three different ways! Proof of Work (PoW), Proof of Stake (PoS), and Proof of Burn (PoB). Below is more information on how these three methods will work:


Proof of Burn (PoB) : 100 million credits will be premined for this purpose. There are many Altcoins out there right now and many of them have failed. The developer disappeared, trading has ground to a halt, and everyone has stopped mining it. You end up sitting on a large supply of these worthless coins with nobody willing to buy them. Each month we will find new dead coins and attempt to buy up the entire supply of said coins. You will be paid in credits the fair value of the burn coin. And yes, you can mine the coin during the burn cycle as long as you trade them in before the deadline. You will have 30 days to do this. All the coins we buy up will then be burned, never to be spent again. Transaction records will be available to the public to insure we are not scamming anyone. We will continue this process until we run out of funds.

Coin Selection : Each month one or more dead Altcoins will be selected. The coins will have to meet all of the following specifications in order to be eligible:

1. Missing Developer/No Development/Abandoned
2. Little to no trade volume (under 0.2 BTC weekly Average)
3. Little to no Hashrate (PoW)/Little to no staking (PoS)

Not approved, Name has been used in the past at least twice. A  PoB clon will not change the result.                   Next.

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[tbearhere]

Oh, c'mon. How many sha-256 coins had shittest price ever?
X11 shitcoins had often bigger price than sha.

And x11 too Sir_Astral. The new upcoming asic's will do x11. I wish he would do qubit or lyra2re2. 

[intristin]

A brand new digital cryptocurrency is about to launch and will have a fair distribution. Credits can be earned three different ways! Proof of Work (PoW), Proof of Stake (PoS), and Proof of Burn (PoB). Below is more information on how these three methods will work:


Proof of Burn (PoB) : 200 million credits will be premined for this purpose. There are many Altcoins out there right now and many of them have failed. The developer disappeared, trading has ground to a halt, and everyone has stopped mining it. You end up sitting on a large supply of these worthless coins with nobody willing to buy them. Each month we will find new dead coins and attempt to buy up the entire supply of said coins. You will be paid in credits the fair value of the burn coin. And yes, you can mine the coin during the burn cycle as long as you trade them in before the deadline. You will have 30 days to do this. All the coins we buy up will then be burned, never to be spent again. Transaction records will be available to the public to insure we are not scamming anyone. We will continue this process until we run out of funds.

Coin Selection : Each month one or more dead Altcoins will be selected. The coins will have to meet all of the following specifications in order to be eligible:

1. Missing Developer/No Development/Abandoned
2. Little to no trade volume (under 0.2 BTC weekly Average)
3. Little to no Hashrate (PoW)/Little to no staking (PoS)

Not approved, Name has been used in the past at least twice. A  PoB clon will not change the result.                   Next.

I have not even released the name of the coin yet, so how do you know it has been used twice before? perhaps your referring to Proof of Burn? Look, none of the Proof of Burn coins currently in existence invented PoB. PoB has been in discussion on this forum for years, the 3 coins launching this month are taking different approaches to implementing PoB. Is ours the best? I'm not related to Ms. Cleo so I can't predict the future. I will say this, using PoB as the only method is flawed in my opinion. What happens to the coin once the PoB funds runs out? My guess is that it becomes a burn coin itself. This coin was designed to have a life beyond PoB. PoB will never be the end all be all.  

yawn


https://bitcointalk.org/index.php?topic=1219460.0

Congratulations on your new NXT asset, I wish you well.  

[bit1]

A brand new digital cryptocurrency is about to launch and will have a fair distribution. Credits can be earned three different ways! Proof of Work (PoW), Proof of Stake (PoS), and Proof of Burn (PoB). Below is more information on how these three methods will work:


Proof of Burn (PoB) : 100 million credits will be premined for this purpose. There are many Altcoins out there right now and many of them have failed. The developer disappeared, trading has ground to a halt, and everyone has stopped mining it. You end up sitting on a large supply of these worthless coins with nobody willing to buy them. Each month we will find new dead coins and attempt to buy up the entire supply of said coins. You will be paid in credits the fair value of the burn coin. And yes, you can mine the coin during the burn cycle as long as you trade them in before the deadline. You will have 30 days to do this. All the coins we buy up will then be burned, never to be spent again. Transaction records will be available to the public to insure we are not scamming anyone. We will continue this process until we run out of funds.

Coin Selection : Each month one or more dead Altcoins will be selected. The coins will have to meet all of the following specifications in order to be eligible:

1. Missing Developer/No Development/Abandoned
2. Little to no trade volume (under 0.2 BTC weekly Average)
3. Little to no Hashrate (PoW)/Little to no staking (PoS)

Not approved, Name has been used in the past at least twice. A  PoB clon will not change the result.                   Next.

I have not even released the name of the coin yet, so how do you know it has been used twice before? perhaps your referring to Proof of Burn? Look, none of the Proof of Burn coins currently in existence invented PoB. PoB has been in discussion on this forum for years, the 3 coins launching this month are taking different approaches to implementing PoB. Is ours the best? I'm not related to Ms. Cleo so I can't predict the future. I will say this, using PoB as the only method is flawed in my opinion. What happens to the coin once the PoB funds runs out? My guess is that it becomes a burn coin itself. This coin was designed to have a life beyond PoB. PoB will never be the end all be all.  

Congratulations on your new NXT asset, I wish you well.  

https://bitcointalk.org/index.php?topic=614917.0
https://bitcointalk.org/index.php?topic=1037244.0
 
So you could consider change the name, Use a old name is not a good idea.

[intristin]

A brand new digital cryptocurrency is about to launch and will have a fair distribution. Credits can be earned three different ways! Proof of Work (PoW), Proof of Stake (PoS), and Proof of Burn (PoB). Below is more information on how these three methods will work:


Proof of Burn (PoB) : 200 million credits will be premined for this purpose. There are many Altcoins out there right now and many of them have failed. The developer disappeared, trading has ground to a halt, and everyone has stopped mining it. You end up sitting on a large supply of these worthless coins with nobody willing to buy them. Each month we will find new dead coins and attempt to buy up the entire supply of said coins. You will be paid in credits the fair value of the burn coin. And yes, you can mine the coin during the burn cycle as long as you trade them in before the deadline. You will have 30 days to do this. All the coins we buy up will then be burned, never to be spent again. Transaction records will be available to the public to insure we are not scamming anyone. We will continue this process until we run out of funds.

Coin Selection : Each month one or more dead Altcoins will be selected. The coins will have to meet all of the following specifications in order to be eligible:

1. Missing Developer/No Development/Abandoned
2. Little to no trade volume (under 0.2 BTC weekly Average)
3. Little to no Hashrate (PoW)/Little to no staking (PoS)

Not approved, Name has been used in the past at least twice. A  PoB clon will not change the result.                   Next.

I have not even released the name of the coin yet, so how do you know it has been used twice before? perhaps your referring to Proof of Burn? Look, none of the Proof of Burn coins currently in existence invented PoB. PoB has been in discussion on this forum for years, the 3 coins launching this month are taking different approaches to implementing PoB. Is ours the best? I'm not related to Ms. Cleo so I can't predict the future. I will say this, using PoB as the only method is flawed in my opinion. What happens to the coin once the PoB funds runs out? My guess is that it becomes a burn coin itself. This coin was designed to have a life beyond PoB. PoB will never be the end all be all.  

Congratulations on your new NXT asset, I wish you well.  

https://bitcointalk.org/index.php?topic=614917.0
https://bitcointalk.org/index.php?topic=1037244.0
 
So you could consider change the name, Use a old name is not a good idea.

The name of this cryptocurrency is not credits. However, credits is part of the name. I get the feeling you don't trust me. Please bookmark this thread and watch what happens.

[intristin]

I just wanted to point out that when we launch you will have several methods to mine these credits. For those with ASIC you will be able to mine these credits directly through the SHA256 algorithm. If you prefer CPU or GPU mining you can just mine our burn coins and exchange them for credits. This option is indirect mining but will still give the same result with our 30 day burn cycle which is a guaranteed price. We will be launching within the next two weeks. Burns will start the first of december and last 30 days.     

[BARR_Official]

It's not too late for you to just cancel this, and it wouldn't be a big deal.  

BARR has just started, and it might be a little soon for a blatant copycat project.

We launched 4 hours ago, and we've already burned about $7,000 worth of Sapience.  

We have destroyed 43% of all Sapience coins - this is a coin right at the Top 200 on CoinMarketCap, as are Fractalcoin and Keycoin.

Why would anyone burn thousands of dollars worth of their coins to get your credits, when they could get the same thing with an ASIC, and also keep all their coins?

[intristin]

It's not too late for you to just cancel this, and it wouldn't be a big deal.  

BARR has just started, and it might be a little soon for a blatant copycat project.

We launched 4 hours ago, and we've already burned about $7,000 worth of Sapience.  

We have destroyed 43% of all Sapience coins.

I really hope that your coin is successful, I think that PoB is a valid concept. However, you did not invent PoB, and I did not copy your coin. PoB has been discussed in this forum for years, and I have been working on this coin for 6 months, long before you announced. There is no reason for us to be enemies. If you wish to make me your enemy that is your choice. But at the end of the day, my coin is a stand alone cryptocurrency that can be mined and staked, yours is a NXT asset that uses only PoB. When your burn funds run out, your coin is dead. With that said, I wish you luck. And by the way, promoting your coin in another coins thread reeks of desperation.

[BARR_Official]

However, you did not invent PoB

We invented Multi-Proof-of-Burn.

and I did not copy your coin.

But you announced it the same week as we did, and you're announcing a 30-day burn cycle beginning December 1st, exactly the same as what we've already announced.

PoB has been discussed in this forum for years

But in all those years, no one has ever released a coin like ours.  We were the first, and then it only took you 3 days to announce something similar.

and I have been working on this coin for 6 months

Then where is the work?  Why don't you have any details?  From all appearances, you just threw this together after you saw our ANN, and now you're scrambling to make it up as you go.  If that's not the case, then I am mistaken.  But that is the appearance you have given. 

There is no reason for us to be enemies. If you wish to make me your enemy that is your choice.

I haven't done anything to you, and I don't want to do anything to you.  I only told the truth, because I don't think you have thought about what you're doing enough to realize that it probably won't work.

But at the end of the day, my coin is a stand alone cryptocurrency that can be mined and staked, yours is a NXT asset that uses only PoB.

Your coin is also an asset, issued by you, and it has constant inflation. 

BARR is only earned with Multi-Proof-of-Burn as the mining method, with the goal of completely absorbing and replacing entire altcoins. 
Your plan involves giving away premined coins for no apparent reason. 

When your funds run out, your coin is dead.

Our funds will never run out.  We actually planned it, before we made any announcements.

[intristin]

However, you did not invent PoB

We invented Multi-Proof-of-Burn.

and I did not copy your coin.

But you announced it the same week as we did, and you're announcing a 30-day burn cycle beginning December 1st, exactly the same as what we've already announced.

PoB has been discussed in this forum for years

But in all those years, no one has ever released a coin like ours.  We were the first, and then it only took you 3 days to announce something similar.

and I have been working on this coin for 6 months

Then where is the work?  Why don't you have any details?  From all appearances, you just threw this together after you saw our ANN, and now you're scrambling to make it up as you go.  If that's not the case, then I am mistaken.  But that is the appearance you have given. 

There is no reason for us to be enemies. If you wish to make me your enemy that is your choice.

I haven't done anything to you, and I don't want to do anything to you.  I only told the truth, because I don't think you have thought about what you're doing enough to realize that it probably won't work.

But at the end of the day, my coin is a stand alone cryptocurrency that can be mined and staked, yours is a NXT asset that uses only PoB.

Your coin is also an asset, issued by you, and it has constant inflation. 

BARR is only earned with Multi-Proof-of-Burn as the mining method, with the goal of completely absorbing and replacing entire altcoins. 
Your plan involves giving away premined coins for no apparent reason. 

When your funds run out, your coin is dead.

Our funds will never run out.  We actually planned it, before we made any announcements.

I really don't know how to reply to that. I feel sorry for everyone that burns coins via BARR. And you my friend are delusional. I mean let's say for a second that I did steal the idea from you! Your point is what? At the end of the day Bitcoin invented cryptocurrency, so by your standards your a blatant copycat project. Also, my identity is public, your hiding behind a screen name. Who do you think this community will trust more?

[BARR_Official]

I didn't mean to upset you.  Please calm down, it's not worth stressing yourself out over.

I apologize for offering unwanted advice.  You don't need me to tell you about your coin, you'll see for yourself how it does.  

And I don't need to worry about everyone saying "proof of burn is the new fad, everybody's doing it all of a sudden."  They'll see for themselves too.

Also, my identity is public, your hiding behind a screen name. Who do you think this community will trust more?

Maybe they'll trust you, who knows.  Maybe they won't mind that you just signed up 30 days ago but claim to have been working on your coin for 6 months.

[intristin]

I didn't mean to upset you.  Please calm down, it's not worth stressing yourself out over.

I apologize for offering unwanted advice.  You don't need me to tell you about your coin, you'll see for yourself how it does. 

And I don't need to worry about everyone saying "proof of burn is the new fad, everybody's doing it all of a sudden."  They'll see for themselves too.

I'm not upset man, but your slinging allegations at me and I have to defend myself. I do wish your coin luck, I hope it succeeds. But stop attacking me, because I will fight back. If you want a war, I'll be more then happy to target the coins your targeting, and we will see who comes out on top. I don't want that, so please back off.   

[intristin]

Also, my identity is public, your hiding behind a screen name. Who do you think this community will trust more?

Maybe they'll trust you, who knows.  Maybe they won't mind that you just signed up 30 days ago but claim to have been working on your coin for 6 months.

Again, your point? How does my registration date have any relationship to how long I have been working on this coin? And even if I have been working on it for only a month, how does that matter? Dude, just focus on your own coin, it's success or failure has nothing to do with me. But attacking my coin makes you look desperate, your only shooting yourself in the foot.

[BARR_Official]

And even if I have been working on it for only a month, how does that matter?

Because it would prove you're a liar.

But attacking my coin makes you look desperate, your only shooting yourself in the foot.

So then when you attack BARR, what does that look like? 

If you care what things look like, your entire project looks like an attack on BARR.

Oh look, Barr has had 18 transactions, nevermind the fact that the Devs knew which coins would be burned before the announcement.

Don't be stupid.

Are you actually bragging about the fact that you've announced a coin without knowing how it will work?

And nevermind the fact that over 50% of the total coin supply has been sucked up in just 18 transactions.

Maybe you should get some sleep, it's less than 10%. 

Nevermind the fact the the blockchain shows a spike in buy orders before said announcement.

The blockchain shows a spike in buy orders?  For Fractalcoin, Keycoin, and Sapience?

This is in no way a scam.

Are you talking about Banxshares again?

Yep, we are all stupid

Well, you do think there are buy orders on 1.0 PoW blockchains

[Woody20285]

I see a fundamental problem with the burn idea. The dev. have build in
insider trading in that, they can buy cheap coins. Advertise the burn and
profit from the supply reduction. Will it be viewed as self serving or community
service? Could be good or a Pump and dump>>>?