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 likely a blackhole since it would contain a long word or phrase.
FTFY. I still don't trust you.
