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edwardspitz
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September 05, 2014, 07:12:25 AM |
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I tried the Linux beta yesterday. It looks very promising, but there is not much going on yet.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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mmortal03
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Activity: 1762
Merit: 1010
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September 05, 2014, 08:46:17 AM |
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Yeah, why not something like this? |
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dillpicklechips
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September 05, 2014, 10:30:26 AM |
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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. |
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xDan
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September 05, 2014, 10:37:37 AM |
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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? Yeah, why not something like this? It's more complicated, maybe? Proof of burn is charitably donating the value to all BTC holders. |
HODLing for the longest time. Skippin fast right around the moon. On a rocketship straight to mars.
Up, up and away with my beautiful, my beautiful Bitcoin~
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mmortal03
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Activity: 1762
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September 05, 2014, 11:55:20 AM |
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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. |
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Buo
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September 05, 2014, 12:17:16 PM |
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The bitcoins aren't really burned but it could be a positive thing for its value in the long term.
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knight22 (OP)
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Activity: 1372
Merit: 1000
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September 05, 2014, 03:59:22 PM |
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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? |
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Timetwister
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Activity: 1199
Merit: 1047
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September 05, 2014, 04:02:02 PM |
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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  |
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knight22 (OP)
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Activity: 1372
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September 06, 2014, 05:22:46 PM |
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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!  |
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giveBTCpls
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September 06, 2014, 07:22:21 PM |
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What if burning means behind closed doors "cashing out and buying the latest lambo"?  |
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knight22 (OP)
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September 06, 2014, 07:24:12 PM |
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What if burning means behind closed doors "cashing out and buying the latest lambo"? All that with open source code? Really? |
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bitcointrader55
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Activity: 63
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September 06, 2014, 10:59:31 PM |
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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. |
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Timetwister
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Activity: 1199
Merit: 1047
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September 17, 2014, 07:39:02 PM |
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How is it possible to know that the bitcoins are really being "burnt" and that receiving address isn't really owned by someone?
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