We need more proof-of-burn altcoins

[Drekavac]

What can be direct competition for bitcoin? Anonymity, Fancy html5 wallets and in wallets trading bots or contracts, what else? Or to be honest we love to trade alts no matter what, to get more bitcoins..

[fortunecrypto]

Counterparty did what you propose, nothing spectacular came out of it.

It's still holding, but it was probably a bad management or they were just unlucky.

However the methodology is still good in my opinion, at least it benefits bitcoin.

If only one altcoin implemented that proof of burn altcoins and it did not succeed then it's useless to set up one anymore developers tend to follow algorithm that can give them adopters and profit but I would like to consider this idea will do a research on this and watch this thread..

[RealBitcoin]

It's not about an economic attack on Bitcoin. Miners can be ordered by the government to shut down and will be unable to do anything about it.

A pool is made of many miners, not a farm. A pool IS a farm in the industrial scale mining environment.

They they will just ship the equipment to another country and resume. Not all farms can be shut down at the same time, and if they are located in different countries the harder it becomes.

Also the bitcoin network doesnt need the 3 mining farms, it can even operate with 1 miner. But just the more miners there are the safer it is.

But they wont do that, then the 51% attack is not viable unless you have the support of the bitcoin oligarchs, which they obviously wont get.

So bitcoin is really resilient from this point of view.

But this is getting a bit offtopic here.

[freshman777]

It's not about an economic attack on Bitcoin. Miners can be ordered by the government to shut down and will be unable to do anything about it.

A pool is made of many miners, not a farm. A pool IS a farm in the industrial scale mining environment.

They they will just ship the equipment to another country and resume. Not all farms can be shut down at the same time, and if they are located in different countries the harder it becomes.

Also the bitcoin network doesnt need the 3 mining farms, it can even operate with 1 miner. But just the more miners there are the safer it is.

You're so funny, whatever.

[RealBitcoin]

Counterparty did what you propose, nothing spectacular came out of it.

It's still holding, but it was probably a bad management or they were just unlucky.

However the methodology is still good in my opinion, at least it benefits bitcoin.

If only one altcoin implemented that proof of burn altcoins and it did not succeed then it's useless to set up one anymore developers tend to follow algorithm that can give them adopters and profit but I would like to consider this idea will do a research on this and watch this thread..

It's not the Proof of burn that it failed. It was just 1 indivudual currency.

Developers dont like POB because they like to steal bitcoin, but actually the POB would be the best and most transparent approach, and the community should demand this.

If I was ever going to create an altcoin, i`d use POB.

[BARR_Official]

BARR has burned $30,000 worth of altcoins and accomplished huge changes across 10 different blockchains.

[fortunecrypto]

BARR has burned $30,000 worth of altcoins and accomplished huge changes across 10 different blockchains.

This is the only one of it's kind now and I believe if their are at least 5 burn of proof coins many altcoins will be burned and it will reduced these altcoins but unfortunately only this coin is the one existing..

[BARR_Official]

BARR has burned $30,000 worth of altcoins and accomplished huge changes across 10 different blockchains.

This is the only one of it's kind now and I believe if their are at least 5 burn of proof coins many altcoins will be burned and it will reduced these altcoins but unfortunately only this coin is the one existing..

It's a good start.

[iGotSpots]

I gave CUBE away for free by forum rank and it burns coins via negative staking for not following rules

Seems perfect for you