Digital Credits : Proof of Burn Discussion Thread | burns canceled do to attacks

[intristin]

That is not good sign and if im not mistaken part of spacoin supply hich will be burned for DGCS will reduce total coin supply for space resulting in shooting up price for space. Thing which is still kind a riddle to me is that what will be the purpose of DGCS.

From what I understand the Yobit guy said that they plan to delist space, since it is the only exchange they trade on I imgaine that would make any remaining space pretty worthless. Below is taken from their chat logs from this morning. Again, we have the funds to burn ALL space!

BlackSmith LX: dominikherzog, we don't support such swaps, especially on another exchanges. probably these coins will be delisted

[intristin]

The burn is now live, have updated the second post with more details!

You can access the burn page directly here : https://btcpool.exchange/Market?pair=SPACE/DGCS

Please note you have until the 30th to Stake Spacecoin before you burn it if you so choose. There is no cap on how many coins we burn so there is no need to rush! Remember, you can also mine Space for a limited time at a low fee here: http://tekyboy.tk/

Many thanks go out to TEKYBOY as our official burn mining partner and BTCPOOL as our official coin burn partner. Thanks for supporting our burns. And thank you to everyone else who supports Digital Credits. Enjoy and good luck.

[Arrakeen]

But wouldn't burning 90% of SPACE make the remaining 10% super valuable, even if it wasn't listed on any exchanges?  I don't know, just trying to wrap my head around this whole burn process.

Good luck with DGCS, I'm holding onto mine!

[intristin]

But wouldn't burning 90% of SPACE make the remaining 10% super valuable, even if it wasn't listed on any exchanges?  I don't know, just trying to wrap my head around this whole burn process.

Good luck with DGCS, I'm holding onto mine!

It's hard to say what the effect would be on remaining Space without an exchange to trade it on, aside from the fact it will become really hard to buy or sell it. Not to mention the pool will be shut down as well after the burn ends. But who knows, someone could come along and fork the coin and bring it back to life. At the end of the day it's up to you what you want to do with your coins. Your not by any means required to burn them.

[intristin]

So it looks like over 20k Spacecoin has been burned allready. I'm kind of surprised that number is so high. Please keep in mind that you have till the 30th of December to burn this coin. Mine it, stake it, and dump it on the last day. That will maximize your profit. We are burning SPACE at many times it's value and that exchange rate will not change. Meanwhile the value of Digital Credits could go up, be smart, maximize your profit. 

[MbccompanyX]

So it looks like over 20k Spacecoin has been burned allready. I'm kind of surprised that number is so high. Please keep in mind that you have till the 30th of December to burn this coin. Mine it, stake it, and dump it on the last day. That will maximize your profit. We are burning SPACE at many times it's value and that exchange rate will not change. Meanwhile the value of Digital Credits could go up, be smart, maximize your profit. 

Well i suppose somebody could post the info about the actual network height so we can have an idea about how many people are staking the coin, anyway it surprises me that the coin got such a sudden pump from nowhere.... i will follow the thread and the coin for curiosity

[Arrakeen]

Sweet, just got a few thousand DGCS from the burn 

I'm trying to withdraw - it says 'waiting for admin approval'   


Does the admin really get to decide who is allowed to withdraw and who isn't?

[intristin]

Sweet, just got a few thousand DGCS from the burn 

I'm trying to withdraw - it says 'waiting for admin approval'   


Does the admin really get to decide who is allowed to withdraw and who isn't?

No, you should not need approval to withdraw, I'll pass this along to the exchange guys so they can look into it.

[pjcltd]

Sweet, just got a few thousand DGCS from the burn 

I'm trying to withdraw - it says 'waiting for admin approval'   


Does the admin really get to decide who is allowed to withdraw and who isn't?

HI
did you get your coins?
i have had a look on the exchange and there are no withdraws pending at all

If you did them please post on here say that you got your coins ok

thanks
Paul

[dukester99]

Spacecoin is working fine the way it is. Just needs the dev to return or someone to take it over. A fork will not be necessary.

But wouldn't burning 90% of SPACE make the remaining 10% super valuable, even if it wasn't listed on any exchanges?  I don't know, just trying to wrap my head around this whole burn process.

Good luck with DGCS, I'm holding onto mine!

It's hard to say what the effect would be on remaining Space without an exchange to trade it on, aside from the fact it will become really hard to buy or sell it. Not to mention the pool will be shut down as well after the burn ends. But who knows, someone could come along and fork the coin and bring it back to life. At the end of the day it's up to you what you want to do with your coins. Your not by any means required to burn them.

[MbccompanyX]

Spacecoin is working fine the way it is. Just needs the dev to return or someone to take it over. A fork will not be necessary.

But wouldn't burning 90% of SPACE make the remaining 10% super valuable, even if it wasn't listed on any exchanges?  I don't know, just trying to wrap my head around this whole burn process.

Good luck with DGCS, I'm holding onto mine!

It's hard to say what the effect would be on remaining Space without an exchange to trade it on, aside from the fact it will become really hard to buy or sell it. Not to mention the pool will be shut down as well after the burn ends. But who knows, someone could come along and fork the coin and bring it back to life. At the end of the day it's up to you what you want to do with your coins. Your not by any means required to burn them.

And anyway i think that the Digital Credits dev could select coins that are still alive but are almost at 1 satoshi hell, but is just what i think so maybe at the end he will no do so. But still, Spacecoin for now got a nice +2.8% value so maybe the burning is doing something i think

[intristin]

Spacecoin is working fine the way it is. Just needs the dev to return or someone to take it over. A fork will not be necessary.

But wouldn't burning 90% of SPACE make the remaining 10% super valuable, even if it wasn't listed on any exchanges?  I don't know, just trying to wrap my head around this whole burn process.

Good luck with DGCS, I'm holding onto mine!

It's hard to say what the effect would be on remaining Space without an exchange to trade it on, aside from the fact it will become really hard to buy or sell it. Not to mention the pool will be shut down as well after the burn ends. But who knows, someone could come along and fork the coin and bring it back to life. At the end of the day it's up to you what you want to do with your coins. Your not by any means required to burn them.

And anyway i think that the Digital Credits dev could select coins that are still alive but are almost at 1 satoshi hell, but is just what i think so maybe at the end he will no do so. But still, Spacecoin for now got a nice +2.8% value so maybe the burning is doing something i think

Yes, The price is going up, It was expected as people are buying it to stake and burn. Any coin we target in the future will have the same effect. Once the burn ends the buy pressure will most likely go away and the value will drop back down to what it was before. This is our first burn so we will see what happens.

[MbccompanyX]

Spacecoin is working fine the way it is. Just needs the dev to return or someone to take it over. A fork will not be necessary.

But wouldn't burning 90% of SPACE make the remaining 10% super valuable, even if it wasn't listed on any exchanges?  I don't know, just trying to wrap my head around this whole burn process.

Good luck with DGCS, I'm holding onto mine!

It's hard to say what the effect would be on remaining Space without an exchange to trade it on, aside from the fact it will become really hard to buy or sell it. Not to mention the pool will be shut down as well after the burn ends. But who knows, someone could come along and fork the coin and bring it back to life. At the end of the day it's up to you what you want to do with your coins. Your not by any means required to burn them.

And anyway i think that the Digital Credits dev could select coins that are still alive but are almost at 1 satoshi hell, but is just what i think so maybe at the end he will no do so. But still, Spacecoin for now got a nice +2.8% value so maybe the burning is doing something i think

Yes, The price is going up, It was expected as people are buying it to stake and burn. Any coin we target in the future will have the same effect. Once the burn ends the buy pressure will most likely go away and the value will drop back down to what it was before. This is our first burn so we will see what happens.

I think that maybe the price will always go up because the sell walls are weak but there isn't any kind of response seems at the end and i think that even when the burn will end nothing will change

[intristin]

Spacecoin is working fine the way it is. Just needs the dev to return or someone to take it over. A fork will not be necessary.

But wouldn't burning 90% of SPACE make the remaining 10% super valuable, even if it wasn't listed on any exchanges?  I don't know, just trying to wrap my head around this whole burn process.

Good luck with DGCS, I'm holding onto mine!

It's hard to say what the effect would be on remaining Space without an exchange to trade it on, aside from the fact it will become really hard to buy or sell it. Not to mention the pool will be shut down as well after the burn ends. But who knows, someone could come along and fork the coin and bring it back to life. At the end of the day it's up to you what you want to do with your coins. Your not by any means required to burn them.

And anyway i think that the Digital Credits dev could select coins that are still alive but are almost at 1 satoshi hell, but is just what i think so maybe at the end he will no do so. But still, Spacecoin for now got a nice +2.8% value so maybe the burning is doing something i think

Yes, The price is going up, It was expected as people are buying it to stake and burn. Any coin we target in the future will have the same effect. Once the burn ends the buy pressure will most likely go away and the value will drop back down to what it was before. This is our first burn so we will see what happens.

I think that maybe the price will always go up because the sell walls are weak but there isn't any kind of response seems at the end and i think that even when the burn will end nothing will change

As i said in the other thread in regard to Spacecoin,  Investors usually look for coins under active development to invest in. Space was dumped by it's Developer and abandoned. Unless someone comes a long to rescue space it doesn't look very good as a long term investment. We will see what happens after the burn. Right now the only thing pushing up the price is this burn.

[intristin]

We have burned over 50k Space so far. Make sure you stake your Space before you dump it. You have until the 30th.

[intristin]

UPDATE: Over 136,000 SPACE has been burned to date, You have until DEC 30 to burn the rest. Mine it, Stake it, and burn it! 

[MbccompanyX]

UPDATE: Over 136,000 SPACE has been burned to date, You have until DEC 30 to burn the rest. Mine it, Stake it, and burn it! 

So until now we burned only 3,4% of all the spacecoins? Last time i checked the block explorer reported 4 million coins still around... I think that maybe 25% would be the max we will do

[intristin]

UPDATE: Over 136,000 SPACE has been burned to date, You have until DEC 30 to burn the rest. Mine it, Stake it, and burn it! 

So until now we burned only 3,4% of all the spacecoins? Last time i checked the block explorer reported 4 million coins still around... I think that maybe 25% would be the max we will do

I am fine with that to be honest. I'm currently sitting on about 150k space myself which I plan to dump on the last day. Just staking right now and will continue to buy when the price is right. There is still elevated trade volume beyond what I am doing in the Space market, that could also be do to the threat of delisting, who knows. We will just have to wait and see what happens.

[MbccompanyX]

UPDATE: Over 136,000 SPACE has been burned to date, You have until DEC 30 to burn the rest. Mine it, Stake it, and burn it! 

So until now we burned only 3,4% of all the spacecoins? Last time i checked the block explorer reported 4 million coins still around... I think that maybe 25% would be the max we will do

I am fine with that to be honest. I'm currently sitting on about 150k space myself which I plan to dump on the last day. Just staking right now and will continue to buy when the price is right. There is still elevated trade volume beyond what I am doing in the Space market, that could also be do to the threat of delisting, who knows. We will just have to wait and see what happens.

For what i know yobit only delists coins if have serious problems on the code, as you can check even by yourself there are coins which last block are old of months, i don't know of which exchange you were talking about spacecoin delisting

[intristin]

UPDATE: Over 136,000 SPACE has been burned to date, You have until DEC 30 to burn the rest. Mine it, Stake it, and burn it! 

So until now we burned only 3,4% of all the spacecoins? Last time i checked the block explorer reported 4 million coins still around... I think that maybe 25% would be the max we will do

I am fine with that to be honest. I'm currently sitting on about 150k space myself which I plan to dump on the last day. Just staking right now and will continue to buy when the price is right. There is still elevated trade volume beyond what I am doing in the Space market, that could also be do to the threat of delisting, who knows. We will just have to wait and see what happens.

For what i know yobit only delists coins if have serious problems on the code, as you can check even by yourself there are coins which last block are old of months, i don't know of which exchange you were talking about spacecoin delisting

Balcksmith made the comment that he will most likely delist both selfi and space do to the burn. He said this around the first day of the burn. I have no idea if he plans to follow through with that. You are right that Yobit rarely delists coins, I was just going on what he said. Below is the direct quote from him.

BlackSmith LX: dominikherzog, we don't support such swaps, especially on another exchanges. probably these coins will be delisted