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Author Topic: Destroying bitcoin, by coin, by coin...  (Read 14158 times)
Coins are Gone
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July 06, 2011, 05:06:05 PM
 #1

I am an IT specialist at a medium sized european insurance company. Not in the large datacenters or anything, just a smallish dependance. We're with only two people in my department and we work together so basically we can do with the computers at our disposal what we want.
Including installing and running bitcoin miners Smiley

Good for you! You might think. Nice bitcoins for us, ready to spend or trade on an exchange or whatever and it doesn't cost us anything! Other than a few lost hours reading into bitcoin and then registering for a pool and setting up some miners.
But. We're not in this for the money. The ideal is what matters to us, the idea behind bitcoin, the potential it has and what it could same day become. The problem is, we don't believe in that. We both feel bitcoin is an incredibly silly idea, a waste of resources (spare me the irony, we're aware of it) and a concept that is doomed to fail.

So, we destroy every coin we mine. It's amazing how much effort it takes PC's to create a bitcoin yet how easily they can be destroyed. It litterally takes us no more than a minute every week. Delete the wallet.dat and create a fresh one and another 5 coins or so are gone forever Smiley

Miner is running on 12 PC's at the moment, total hashing power close to 700 Mhash. Next week it's time roll it out on the other 40 machines.

Of course you can join our quest and start deleting your wallets from today and help us get rid of bitcoin. Coin by coin by coin by coin! Smiley

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xunker
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July 06, 2011, 05:10:30 PM
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Public Service Notice: Please don't feed the trolls.
Man From The Future
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July 06, 2011, 05:10:55 PM
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If you're serious... epic fail, you just make everyone else's coisn more valuable Cheesy (And bitcoin can be modified for greater divisibility, so that's not an issue...)

Otherwise, go away, troll.
ColdHardMetal
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July 06, 2011, 05:14:31 PM
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Thanks! I support your initiative.

Coins are Gone
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July 06, 2011, 05:14:43 PM
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If you're serious... epic fail, you just make everyone else's coisn more valuable Cheesy

We are aware of that. We have no problem with helping other people get rich. You can thank us for our "donation" by destroying a few bitcoins Smiley


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(And bitcoin can be modified for greater divisibility, so that's not an issue...)


That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. So every coin destroyed is a small step Smiley
Vladimir
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July 06, 2011, 05:15:32 PM
 #6

Great Idea! Do it!

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kokjo
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July 06, 2011, 05:16:49 PM
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Thanks! I support your initiative.
me too +1

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
Agozyen
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July 06, 2011, 05:19:17 PM
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Thank you for making my coins more valuable! 

 Secondly, why are you opposed to bitcoins?  What else are you opposed to that you take such decisive action on?  What I mean is, if you don't like cats, do you kill every cat you see?

BTC - CujnA41SLT32Lt36nJnQ5r6FA2dmm3LK1

FTC - 71GQVK8rod9NyxHjTNvowNEJk47EN8NinL
XonX
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July 06, 2011, 05:20:15 PM
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You should try burning Euros. That's fun too.
lulzplzkthx
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July 06, 2011, 05:20:33 PM
 #10

Destroy more!

Man From The Future
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July 06, 2011, 05:21:17 PM
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If you're serious... epic fail, you just make everyone else's coisn more valuable Cheesy

We are aware of that. We have no problem with helping other people get rich. You can thank us for our "donation" by destroying a few bitcoins Smiley


Quote
(And bitcoin can be modified for greater divisibility, so that's not an issue...)


That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be. So every coin destroyed is a small step Smiley
Unless you can convince EVERYONE to destroy their bitcoins, you only give away money to other people.
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July 06, 2011, 05:21:52 PM
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I agree with this. We need to make 1BTC worth 100USD. Now.
NghtRppr
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July 06, 2011, 05:22:57 PM
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That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be.

If you make all other BTC worth more and they are divided up into smaller pieces, the net result is no change long-term. You're not hurting anything. You're only helping us out in the short-term.

Also, if Bitcoin is a "concept that is doomed to fail" then why are you even wasting your time? It'll fail anyways. I guess you don't really believe that then, do you?
Coins are Gone
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July 06, 2011, 05:26:08 PM
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Thank you for making my coins more valuable! 

You're welcome! Cheesy

Quote
Secondly, why are you opposed to bitcoins? 

Oh my, there's a ton of reasons, all of which I am sure you've read here on the forums before so I think it'd be kinda boring to discuss here. Just a small list if you insist (if you like my rhymes, please sestroy a bitcoin for donation! Wink:

- The deflatory nature of bitcoin is an inherent flaw making the principle useless
- Bitcoin is a speculative bubble, has no real value and will cause many people to lose the money they invested
- The whole concept is too geeky (and yes, we're geeks too, but still) to become ever widely adopted
- It is a pyramid scheme and the only ones benefiting are the early adoptors and they will laugh at you when they cash and pull out
- It's a botnet-hack waiting to happen
- Instances like MtGox  deciding to perform rollbacks show that the principle ideal was already raped
- and so on...

Quote
What else are you opposed to that you take such decisive action on?  What I mean is, if you don't like cats, do you kill every cat you see?

Jesus christ, killing cats? That is... disturbed.
Vladimir
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July 06, 2011, 05:27:39 PM
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I am wondering is it someone's alter ego pulling our collective leg here or is he for real?

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Agozyen
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July 06, 2011, 05:28:22 PM
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You know what's funny, assuming this guy is telling the truth (I don't believe he is) he is setting himself up for a massive failure.  Since he is mining on his company's hardware, those bitcoins belong to the company.  If his employer ever finds out he will most likely be fired.  Also, wouldn't the company be within its rights to ask for the value of those bitcoins back?  If bitcoins shoot up in value he could be liable for quite a sum.

lol

BTC - CujnA41SLT32Lt36nJnQ5r6FA2dmm3LK1

FTC - 71GQVK8rod9NyxHjTNvowNEJk47EN8NinL
Coins are Gone
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July 06, 2011, 05:31:09 PM
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That simply divides the bitcoins up into smaller portions. Every bitcoin that is lost, is gone for good and simply reduces the amount of bitcoins there will ever be.

If you make all other BTC worth more and they are divided up into smaller pieces, the net result is no change long-term. You're not hurting anything. You're only helping us out in the short-term.

Ok. Have 10 people and 10 pies. We give everyone a pie.
Now 8 pies get lost. Some get eaten, one pie was encrypted and the key got lost, another one's fridge was hacked and his pie deleted, a pie was dropped on the floor, etc etc.

We divide  every remaining pie into 10 pieces. One guy didn't lose his pie, he gets to keep all 10 pieces. The other 10 pieces are divided evenly over the other 9 people and piece gets destroyed by me, just cos I can. And pie makes me fat.
We have 10 times as many "items of pie". We performed a digit shift on the pie basically... Yet now one guy has half of all items of pie available, while he only had 1/10 earlier.
Still think shifting the digit will solve bitcoins getting lost? Wink
Coins are Gone
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July 06, 2011, 05:32:15 PM
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You know what's funny, assuming this guy is telling the truth (I don't believe he is) he is setting himself up for a massive failure.  Since he is mining on his company's hardware, those bitcoins belong to the company.  If his employer ever finds out he will most likely be fired.  Also, wouldn't the company be within its rights to ask for the value of those bitcoins back?  If bitcoins shoot up in value he could be liable for quite a sum.

lol

Me getting fired over this is about as likely as bitcoin becoming adopted by the masses. I'm not worried much Wink
EskimoBob
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July 06, 2011, 05:38:11 PM
 #19

Forget it, I take back my invitation. You have no PC for mining. You are just having fun Smiley
Cheers and welcome to bitcoin bubble.

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
XonX
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July 06, 2011, 05:40:13 PM
 #20

Still think shifting the digit will solve bitcoins getting lost? Wink

Well, yes. Yes, I do.
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