arielbit
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Activity: 3416
Merit: 1059
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October 15, 2014, 12:02:53 AM |
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I dont know how often I need to explain this again and again but i'll try it one more time:
1. Why Burning by sending to a Mammoth/Other Wallet Address is a bad idea:
When you create a Mammothcoin address you create a valid address and a wallet.dat containing a private key
of that valid address. You send the funds from Coin A to a valid address which is ACCEPTED by Coin A's Wallet but generated by Coin B'. That means literally nothing - just that Coin A and B share the same Address encoding AND that Coin B would accept a Coin A address and vice versa. Every address - as long as you have the private key - generated by coin B is also valid for coin A and vice versa as there is no "address delegation" or so in the network. There is no postoffice where address must be registered - you simple create a network address by calculating a privkey and a pubkey - think of the coin address like a abbreviation for you pubkey. So if you send the coins to this abbreviation in either networks - as long as you got the privkey to decrypt the abbreviation - you got the funds. On BOTH networks.
2. Why you should send to a special BURN address when burning coins:
Coin Addresses are for the coin wallet valid looking addresses WITHOUT a known privkey. You are just fooling the wallet to accept a address which you type in your wallet. So you do NOT create an address, you simply invent one like "MaryMaryBuRnBTsGFTCyw7E5brMVHLcyiR" and send the funds there. The coins are now "stuck" in a for the wallet valid looking address - but no one knows the pub or privkey of that address and even the NSA would take about a thousand years to calculate the privkey of that address .. remember a privkey's length.
Of course the invented Address must match the coin's hash (this can be calculated with a vanitygen for example)
So why did they do the show with the video if it is that easy ?
They probably did not know what they were doing...
Are the coins burned yet ?!
Currently not really - someone, in this case C-Cex, could lie to us and simply re-import the privkey and have the funds - I doubt they'll do that as they would hurt their reputation even more, but for peace in mind you could simply invalidate all transactions from this address by doing a wallet update/fork.
nice...here you go dev..please fix it so we can leave this all behind and go to the moon  |
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leewilson
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October 15, 2014, 12:05:32 AM |
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Coinmonster,
I am sending you maryj to replace the ones you put up for the experiment.
I appreciate it, Thanks bud!! This is a problem they can come back from, but I just wonder how many other ICO were done this same way? Maybe before MaryJ spreads to too many exchanges the Dev's should do a 1-1 exchange to a new blockchain. Premine 1 block with the total coins valid right now, and ask the exchanges to help do a v1-to-v2 similar to how bluetrade help html to html5... Just a though. Like I said earlier this is my first IPO and I am really trying to understand the whole process... uh i did not want to steal them, i'd be glad to return them to you mate, send me your address. I took care of him. The 99 coins is well worth the community being able to see that this is not fud and an issue that needs to be resolved (and should have never happened, but once it did could have still been resolved fairly quickly) Thanks for the write up oc. |
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State BlockNet can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State BlockNet to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State BlockNet.” - Joseph Goebbels |
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mxhwr
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October 15, 2014, 12:08:18 AM |
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i am not worried about it. i trust c-cex plus we can view te address at any time so not a issue. looking forward to 10k plus
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akai
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October 15, 2014, 12:10:07 AM |
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dev,you want to create the super mary?  |
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CryptoClub
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Activity: 1470
Merit: 1000
cryptocollectorsclub.com
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October 15, 2014, 12:16:30 AM |
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Just a note. Bittrex has removed the warning, and Richie will be posting here shortly. The accurate current supply is listed on https://chainz.cryptoid.info/maryj/However, in order to increase confidence, we will be forking the code to ignore the address the 36 million burned coins reside on as soon as possible. Thank you for being patient. +1 Nice! |
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Winner
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Look ARROUND!
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October 15, 2014, 12:56:49 AM |
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motorhead89
Sr. Member
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Activity: 464
Merit: 250
Wasssssup!
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October 15, 2014, 02:47:52 AM |
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 This coin amazes me...it has been very fair in its low priced ICO..... all other developers ask way too much for ICO coins... this one however is the bud on the plant! (blossom on the tree)... only wish I was holding more than I hold now.
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I had my account hacked due to a weak password I was told. It has be re-secured and a stronger password implemented. Hacker was posting malware links using my account. Always use a very strong password.
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Winner
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October 15, 2014, 03:26:24 AM |
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Once the fork is done and the new wallet is released, then the coins will be stuck there forever and we can put this whole thing behind us.
Yep |
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coinking
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Activity: 927
Merit: 1000
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October 15, 2014, 03:34:13 AM |
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having a 125k market get us in top 100 on coinmarketcap!
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topcat363
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October 15, 2014, 04:44:13 AM |
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Mary is going to be an incredible pump....but this one wont dump
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Frogman
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Activity: 1232
Merit: 1003
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October 15, 2014, 04:49:45 AM |
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Mary is going to be an incredible pump....but this one wont dump
Do you see it going to a dollar?  |
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topcat363
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October 15, 2014, 05:05:05 AM |
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possibly down the road...but i can see a 20-50k range over the next few days/ weeks
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michaelb87
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October 15, 2014, 08:11:21 AM |
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Good for the ones invested in this ICO. It was a fair one, with not a huge cap. Other devs are way to greedy
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placebo
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October 15, 2014, 08:36:18 AM |
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Good for the ones invested in this ICO. It was a fair one, with not a huge cap. Other devs are way to greedy
What was the ICO price? I miss this one. |
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zoata87
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Activity: 1176
Merit: 1001
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October 15, 2014, 08:40:50 AM |
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Good for the ones invested in this ICO. It was a fair one, with not a huge cap. Other devs are way to greedy
What was the ICO price? I miss this one. 170 sat |
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placebo
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October 15, 2014, 08:53:20 AM |
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Good for the ones invested in this ICO. It was a fair one, with not a huge cap. Other devs are way to greedy
What was the ICO price? I miss this one. 170 sat that was a nice deal A lot of ICO are lately very friendly. With ROSCOIN (my coin, i had 20 sats), now profit coin is also a coin that is pretty ICO friendly. |
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ocminer
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October 15, 2014, 08:54:07 AM |
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Good for the ones invested in this ICO. It was a fair one, with not a huge cap. Other devs are way to greedy
What was the ICO price? I miss this one. 170 sat that was a nice deal x10 ... wow |
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Winner
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October 15, 2014, 09:09:46 AM |
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on its way to 20k satoshi
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barryzand
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October 15, 2014, 09:42:23 AM |
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As a dutch guy growing weed, I have to be honest here... Dev.. Fix your goddamn lighting above your plants! Where is the foil? Where are your automated air moisture measure tools, The place you are growing weed looks way to moisty if you ask me.. you suffer a lot from budrot? I do like the coin though  |
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bathrobehero
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ICO? Not even once.
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October 15, 2014, 09:50:06 AM |
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Wish more people would understand this. So many idiots on this forum who think a coin is rare and valuable because of a low amount... really?  But it's nice to make money because of those idiots who don't understand simple math and always burn themselves Of course scarcity in and of itself is not affecting the price, but please tell me more about how important the marketcap is when you have such a small trade volume as DOPE has. |
Not your keys, not your coins!
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