Open Bazaar bitcoin killer app!

[edwardspitz]

I tried the Linux beta yesterday. It looks very promising, but there is not much going on yet.

[mmortal03]

They will really be destructed:
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/

I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.

Yeah, why not something like this?

[dillpicklechips]

They will really be destructed:
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/

I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.

Yeah, why not something like this?

Because it can be manipulated by those in a charity. I know it's unlikely but still possible. Proof-of-burn can't be manipulated.

[xDan]

How much POB are we talking about? First of all why would we entertain the idea of permanently removing BTC from the ecosystem? Today's change can be next decade's car (or for you bears that want to start a fight for no reason, it could also be next decade's trash).

That's the same argument Bitcoin detractors use against spending any Bitcoin ever. Why would you ever spend any BTC if it may be more valuable tomorrow?

They will really be destructed:
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/

I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.

Yeah, why not something like this?

It's more complicated, maybe? Proof of burn is charitably donating the value to all BTC holders.

[mmortal03]

They will really be destructed:
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/

I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.

Yeah, why not something like this?

It's more complicated, maybe? Proof of burn is charitably donating the value to all BTC holders.

Yeah, it seems to be a simple method that is apolitical, however, in the POB scenario, people who hold more bitcoins would gain more benefit from that, so it doesn't go to everyone "equally", and definitely doesn't go to those with the most need, like it might if it had a different design. I have no well thought out alternative to present at the moment, though -- just discussing ideas.

[Buo]

The bitcoins aren't really burned but it could be a positive thing for its value in the long term.

[knight22]

The bitcoins aren't really burned but it could be a positive thing for its value in the long term.

What do you mean they are not really burned?

[Timetwister]

That's a really clever idea, that makes bitcoins more valuable. So while the donator loses money, the rest of users profit from it, so nothing is lost in aggregate.

I wonder what keynesians think about decreasing the money supply 

[knight22]

That's a really clever idea, that makes bitcoins more valuable. So while the donator loses money, the rest of users profit from it, so nothing is lost in aggregate.

I wonder what keynesians think about decreasing the money supply 

That we are all doomed because of the deflation spiral! 

[giveBTCpls]

What if burning means behind closed doors "cashing out and buying the latest lambo"? 

[knight22]

What if burning means behind closed doors "cashing out and buying the latest lambo"? 

All that with open source code? Really?

[bitcointrader55]

I tried the Linux beta yesterday. It looks very promising, but there is not much going on yet.

Yeah it is still work in progress and most likely will be until beta release. Hopefully by then basic transactions will be able to be performed. I plan on starting out by offering free notary and arbitration services as well as selling products.

and of course I also plan to buy products too. I want to shift as much of my commerce on to OpenBazaar as possible.

[Timetwister]

How is it possible to know that the bitcoins are really being "burnt" and that receiving address isn't really owned by someone?