Destroying bitcoin, by coin, by coin...

[LittleDigger]

This sure is a lot of "thread" for commenting on the OP by an actor who was only on this forum for exactly one hour, not to be heard from again. Hell, Nikki the Bitch had a longer tenure tell theymos took her down and extended my vacation.

~Bruno~

I think they did the forum a favor. I'm no longer restricted to Newbies but it's the only place I have posted. Some of the topics are way over my head, but this one is a fine bit of nonsense that anybody can participate in.. Great ice-breaker...

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[elena.m]

I am an IT specialist at a medium sized european insurance company. … 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

Wait, so you're an IT specialist and you don't use cron for this?

[Phinnaeus Gage]

I am an IT specialist at a medium sized european insurance company. … 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

Wait, so you're an IT specialist and you don't use cron for this?

Surely, you're not expecting an answer from him, for like I said, he was only on this forum for an hour.

~Bruno~

[elena.m]

I am an IT specialist at a medium sized european insurance company. … 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

Wait, so you're an IT specialist and you don't use cron for this?

Surely, you're not expecting an answer from him, for like I said, he was only on this forum for an hour.

~Bruno~

Not really, but this thread is pretty funny.

[Kazimir]

This thread is hilarious

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.

Here's where your comparison fails: in reality, with one guy deliberately destroying his pie, 9 pieces remain, rather than 2. You see, 8 pieces out of 10 don't just get lost, like you seem to assume. You are destroying your pie, the other 9 people aren't.

So each remaining unit of pie is now worth 10/9 as much as before. At the expense of the one guy that thought it would be smart to destroy his pie (i.e. you). Wealth is still distributed equally amongst everybody else.

By destroying bitcoins, you basically give away money to others (in your situation: you're giving your employer's money to the power company) and you change exactly nothing for the rest of the world

Still think shifting the digit will solve bitcoins getting lost?

Absolutely. Except for the guy who destroys his pie.

[Nooner]

I like pie... Especially when other peoples stupid ideas result in me getting more pie.

An obvious troll, but soooo hard to resist responding Clearly I failed... But not as hard as the OP.

[Kazimir]

I know we probably won't see the TS anymore, but just for the sake of argument:

- The deflatory nature of bitcoin is an inherent flaw making the principle useless

Ah, as opposed to the (hyper)inflation currently condoned by the US and European governments and banks, which is obviously a great success and has brought us nothing but wealth and growth, right?

- Bitcoin is a speculative bubble, has no real value and will cause many people to lose the money they invested

I think you are confusing Bitcoin with Dollars. Or stock options. Or basically anything other than the actual products and services that we tend to buy with money.

- The whole concept is too geeky (and yes, we're geeks too, but still) to become ever widely adopted

Wait, is this a notion on Bitcoin in 2012, or on The Internet in 1992?

- 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

Early adopters benefit: sure. That's their reward for stepping in early even when Bitcoin was still insignificant.
Cash and pull out: ah, I see. How, exactly? If I have a million BTC, currently worth about 6.5 million US $, there's no practical way to actually get that $6.5M.

- It's a botnet-hack waiting to happen

You mean infiltrating people's computers to steal their wallets, or to abuse their processing power to mine coins?

- Instances like MtGox  deciding to perform rollbacks show that the principle ideal was already raped

What rollbacks are you referring to, exactly? And how does that show that the Bitcoin concept itself is 'already raped'?

Anyway. Thank you sir, for some good comedy

[Kazimir]

I can't help but fail to see the logical implication here:

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.

You think Bitcoin is a silly idea. Therefore you participate in it and actively destroy bitcoins.. Is that supposed to be any less silly, somehow?

Why not ignore Bitcoin altogether, and just have a laugh at the fools who fall for this obvious nonsense

[organofcorti]

The whole concept is too geeky (and yes, we're geeks too, but still) to become ever widely adopted

Wait, is this a notion on Bitcoin in 2012, or on The Internet in 1992?

Neither. Bitcoin 2011.

[Foxpup]

You think Bitcoin is a silly idea. Therefore you participate in it and actively destroy bitcoins help the Bitcoin community.. Is that supposed to be any less silly, somehow?

It's not silly at all. Far from it. As has been pointed out, his mining efforts efforts are providing additional security for the Bitcoin network, and by destroying the coins he is both declining to accept the reward normally offered to those who provide this important service and increasing the value of everyone else's coins. I normally wouldn't reply to a thread such as this, but I just feel obliged to thank Coins are Gone for his selfless generosity. Well, I guess it's not selfless since he's stealing from the company to do it, but that doesn't mean he's not a hero. Like Robin Hood in a way.

[Kazimir]

Well, I guess it's not selfless since he's stealing from the company to do it, but that doesn't mean he's not a hero. Like Robin Hood in a way.

Hahaha, right! Coins are Gone steals from the rich (his employer) and gives to the poor (us humble bitcoin users). Sweet ♥

[deus-ex-machina]

Well, there's always finding keys of lost addresses, posting the address and NOT the key and asking if it's still used. If not used, it goes to the one who found it. If used, inform the person to move them to a different address to prevent theft.

Then lost Bitcoins could actually come back. Of course, only addresses not used after a year would be able to be posted. Otherwise it would just post over and over. Could sort alphabetically or have a search feature.

[bitChick_mauRa]

You do understand, that 700 mhash is NOT that much? 

That is like saying I am trying to ruin the USD because I throw pennies away.

You, my friend, are an idiot.  You are wasting the resources of your "mid-level insurance company" with a TINY amount of hash power.  You will lose your job once your superior figures out you are frying the company hardware for literally, fractions of pennies.

You do realize, there are single GPUs that get more then 700 Mhash, right?

[DannyHamilton]

Well, there's always finding keys of lost addresses. . .Then lost Bitcoins could actually come back . . .

You're making a joke, right?

[Hecate]

Seems like successful troll was successful. Or they really threw money out of the window which is kinda unrealistic.

[LittleDigger]

 I'm not worried about destroyed bitcoins, but I'm deeply disturbed that some psycho is hacking into peoples fridges and screwing with their pies.. Thanks for the warning..

Some weirdo trys to play with my pies he better be indigestable by my bull mastiff and wearing kevlar or he's FUBAR..

I can understand messing with a man's bitcoins, but it's a sick world when his dessert isn't safe..    Just saying, that ain't right.... That ain't right at all...

[Kazimir]

Well, there's always finding keys of lost addresses,

No, there isn't.

[anu]

Well, there's always finding keys of lost addresses,

No, there isn't.

Easy. just count through all the possible keys and see which one matches. Are you in a hurry? 

[zus]

The more you delete the more you everyone here rich

[RodeoX]

Thank you for doing this. It helps all of us who love bitcoin and see what a visionary idea it is by raising prices.
By the way, I don't believe you for a moment. But if it is true, WTF is wrong with your brain? Your cheating your employer out of their money so that you can work late creating and destroying money???
 One day would look back and cry at what a fool you have been. I say would because I don't believe you. Perhaps you could show us the addresses for all these wallets your throwing away.