Bitcoin Forum
December 02, 2016, 08:15:08 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: DestroyCoin  (Read 1518 times)
Dr. Glamorian
Newbie
*
Offline Offline

Activity: 14



View Profile
July 18, 2012, 06:57:09 AM
 #1

Would you use a crypto-currency backed by destroyed Bitcoins? You would send some Bitcoins to a specific blackhole at a certain time and the blockchain would credit you with 1 DestroyCoin.

Once all Bitcoins are destroyed, there would be a total of 21 million DestroyCoins.

Miners would be paid through transaction fees alone.

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480709708
Hero Member
*
Offline Offline

Posts: 1480709708

View Profile Personal Message (Offline)

Ignore
1480709708
Reply with quote  #2

1480709708
Report to moderator
1480709708
Hero Member
*
Offline Offline

Posts: 1480709708

View Profile Personal Message (Offline)

Ignore
1480709708
Reply with quote  #2

1480709708
Report to moderator
1480709708
Hero Member
*
Offline Offline

Posts: 1480709708

View Profile Personal Message (Offline)

Ignore
1480709708
Reply with quote  #2

1480709708
Report to moderator
notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
July 18, 2012, 07:00:23 AM
 #2

Would you use a crypto-currency backed by destroyed Bitcoins? You would send some Bitcoins to a specific blackhole at a certain time and the blockchain would credit you with 1 DestroyCoin.

Once all Bitcoins are destroyed, there would be a total of 21 million DestroyCoins.

Miners would be paid through transaction fees alone.



How do I know you don't have a key for this blackhole?

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
smoothie
Legendary
*
Offline Offline

Activity: 1834


LEALANA Monero Physical Silver Coins


View Profile
July 18, 2012, 07:01:34 AM
 #3

I cant help but notice the sunglasses in your avatar....just like RS/Notyep.....HMMM

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████æ   
  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
Matthew N. Wright
Untrustworthy
Hero Member
*****
Offline Offline

Activity: 588


Hero VIP ultra official trusted super staff puppet


View Profile
July 18, 2012, 07:06:01 AM
 #4

Atlas, aren't you permabanned?

Dr. Glamorian
Newbie
*
Offline Offline

Activity: 14



View Profile
July 18, 2012, 07:11:17 AM
 #5

Would you use a crypto-currency backed by destroyed Bitcoins? You would send some Bitcoins to a specific blackhole at a certain time and the blockchain would credit you with 1 DestroyCoin.

Once all Bitcoins are destroyed, there would be a total of 21 million DestroyCoins.

Miners would be paid through transaction fees alone.



How do I know you don't have a key for this blackhole?
A public address can be made without generating a private key. In that case, it would be impossible to find the private key, ever.

It will be clearly a blackhole since it would contain a long word or phrase.
yogi
Legendary
*
Offline Offline

Activity: 947


Hamster ate my bitcoin


View Profile
July 18, 2012, 07:14:41 AM
 #6

A public address can be made without generating a private key. In that case, it would be impossible to find the private key, ever.

Not 'impossible' just impractical.

organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
July 18, 2012, 07:28:56 AM
 #7

Miners would be paid through transaction fees alone.

Paid what?

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
Dr. Glamorian
Newbie
*
Offline Offline

Activity: 14



View Profile
July 18, 2012, 07:34:44 AM
 #8

Miners would be paid through transaction fees alone.

Paid what?
Paid DestroyCoins from the sender.
organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
July 18, 2012, 07:40:50 AM
 #9

Miners would be paid through transaction fees alone.

Paid what?
Paid DestroyCoins from the sender.

How do you secure the DestroyCoin network?

I can see where this is headed, but I also like watching train crashes in movies so I'm enjoying playing this out.

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
Dr. Glamorian
Newbie
*
Offline Offline

Activity: 14



View Profile
July 18, 2012, 07:45:16 AM
 #10

Miners would be paid through transaction fees alone.

Paid what?
Paid DestroyCoins from the sender.

How do you secure the DestroyCoin network?

I can see where this is headed, but I also like watching train crashes in movies so I'm enjoying playing this out.
The DestroyCoin network will be secured in the same way the Bitcoin network will be after all Bitcoins are mined. Computing power will compete for the fees gained when a block is found.
Tittiez
Hero Member
*****
Offline Offline

Activity: 686



View Profile
July 18, 2012, 07:47:24 AM
 #11

What happens when all DestroyCoins are destroyed?
organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
July 18, 2012, 07:50:00 AM
 #12

Miners would be paid through transaction fees alone.

Paid what?
Paid DestroyCoins from the sender.

How do you secure the DestroyCoin network?

I can see where this is headed, but I also like watching train crashes in movies so I'm enjoying playing this out.
The DestroyCoin network will be secured in the same way the Bitcoin network will be after all Bitcoins are mined. Computing power will compete for the fees gained when a block is found.

When a block of what is found?

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
Dr. Glamorian
Newbie
*
Offline Offline

Activity: 14



View Profile
July 18, 2012, 07:50:16 AM
 #13

What happens when all DestroyCoins are destroyed?

We retire it and continue to use DestroyCoin 2.
Dr. Glamorian
Newbie
*
Offline Offline

Activity: 14



View Profile
July 18, 2012, 07:50:57 AM
 #14

Miners would be paid through transaction fees alone.

Paid what?
Paid DestroyCoins from the sender.

How do you secure the DestroyCoin network?

I can see where this is headed, but I also like watching train crashes in movies so I'm enjoying playing this out.
The DestroyCoin network will be secured in the same way the Bitcoin network will be after all Bitcoins are mined. Computing power will compete for the fees gained when a block is found.

When a block of what is found?

It runs off the same blockchain system.
organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
July 18, 2012, 08:05:22 AM
 #15

Miners would be paid through transaction fees alone.

Paid what?
Paid DestroyCoins from the sender.

How do you secure the DestroyCoin network?

I can see where this is headed, but I also like watching train crashes in movies so I'm enjoying playing this out.
The DestroyCoin network will be secured in the same way the Bitcoin network will be after all Bitcoins are mined. Computing power will compete for the fees gained when a block is found.

When a block of what is found?

It runs off the same blockchain system.

So you're proposing a bitcoin clone that as part of its start up will reward Bitcoin miners for increasing the value of remaining bitcoins . This is what you're proposing, yes? Destroying bitcoins is not the same as destroying Bitcoin.

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
Bitcoin Oz
Hero Member
*****
Offline Offline

Activity: 700


Wat


View Profile WWW
July 18, 2012, 08:11:16 AM
 #16

So whats the point of this ?

Matthew N. Wright
Untrustworthy
Hero Member
*****
Offline Offline

Activity: 588


Hero VIP ultra official trusted super staff puppet


View Profile
July 18, 2012, 08:31:28 AM
 #17

So whats the point of this ?

Just more utterly pointless time-wasting Atlas mental masturbation. Anyway, he's already banned again.

organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
July 18, 2012, 08:37:24 AM
 #18

Why stop now, just when I'm enjoying it? Damn Matthew, and damn Atlas' Matthew N. Wright - ophobia. Matthew, you just ruined all the fun and scared him off. Oh well. Have to wait until the next reincarnation of Atlas, like some kind of teenaged and semi ignorant Dr. Who without the cool toys.

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
Matthew N. Wright
Untrustworthy
Hero Member
*****
Offline Offline

Activity: 588


Hero VIP ultra official trusted super staff puppet


View Profile
July 18, 2012, 08:59:10 AM
 #19

Why stop now, just when I'm enjoying it? Damn Matthew, and damn Atlas' Matthew N. Wright - ophobia. Matthew, you just ruined all the fun and scared him off. Oh well. Have to wait until the next reincarnation of Atlas, like some kind of teenaged and semi ignorant Dr. Who without the cool toys.

If you want more Atlas drama, talk to Garr255 (http://cognitivemining.com/) who claims he's Dr. Glamorian and Atlas.

Code:
[5:38:40 PM] Garrett Ian MacDonald: So I see you've banned yet another one of my socks
[5:39:31 PM] Garrett Ian MacDonald: I already started coding DC. :/

organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
July 18, 2012, 09:10:05 AM
 #20

No, I am SpartacAtlas!

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!