Bitcoin Burn, the Goldfinger strategy

[billyjoeallen]

it's night and it's slow so I'm going way off topic. I have an idea for a game show called BITCOIN BURN and we could put it on youtube or...something. The idea is that you have contestants competing at....something and the viewing audience votes for the winner, who then gets a prize.  but here's the catch:

You vote for your favorite contestant by sending bitcoins to an address with a lost key. Each contestant is assigned a different address and the one who gets the most money destroyed on their behalf wins the prize. Contestants can vote for themselves if they wish.
The idea of course is to prome bitcoin as a voting mechanism and to get as many bitcoins as possible lost forever, making OUR bitcoins more valuable.

So what I need is a good contest that's entertaining to watch, relatively inexpensive to produce, and wont get me sued or in prison. any ideas?

[billyjoeallen]

Bitcoin Fear Factor


Get LA Beast & Children of Poseidon to go head to head.

Never really got into FF.  Maybe someone else can do that version. I was thinking of something more like a talent show of some kind.

[NoIgnore4u]

and to get as many bitcoins as possible lost forever, making OUR bitcoins more valuable.

Lmao

[billyjoeallen]

Never really got into FF.  Maybe someone else can do that version. I was thinking of something more like a talent show of some kind.

Set up a contest for the best beartroll.


Grab voteburn.com put up a slick interface with the top contenders and select quotes scrolling under their avatar. Release the VoteBURN app so we can all destroy bitcoins on the go & the winning beartroll gets his prize in the currency he loves to hate.

You might have something there.

Part of the plan has to do with game theory. That's why contestants can vote for themselves. If someone spends 50 btc to win a 100 btc prize, they profit 50 btc, BUT if two or more contestants do the same thing, then (assuming voting by viewers is is equally split) one will have to spend more, then the first one will have to spend more to prevent his first 50 btc from being wasted, then the other(s) do too. This can go on far past the prize amount as people will compete to minimize losses as much as to maximize gains.

This is what happened with the X prize for the first commercial spaceship. The winner and several other teams each spent far more than the 10 million$ prize building the ships.

[HarmonLi]

Interesting idea!!! Back in economics classes I had a similar idea once... A destruction tax in order to combat inflation. A certain tax is being collected and all the income will be destroyed. That way the amount of money available gets lower.

But I like your idea a lot!!!

[billyjoeallen]

Interesting idea!!! Back in economics classes I had a similar idea once... A destruction tax in order to combat inflation. A certain tax is being collected and all the income will be destroyed. That way the amount of money available gets lower.

But I like your idea a lot!!!

Thanks. I'm still working on it. Obviously there would need to be some kind of revenue streem to cover the cost of production. Sponsors?

[BitNerd]

You vote for your favorite contestant by sending bitcoins to an address with a lost key.

How can you prove no one has the key?

[RyNinDaCleM]

You vote for your favorite contestant by sending bitcoins to an address with a lost key.

How can you prove no one has the key?

You can't! Just like you can't prove that that address will never be generated again and someone will receive a windfall and dump it on the market because, after all, it is free money.

IMO, This is a dumb idea. There are plenty of dumb less than savvy individuals to destroy Bitcoins without forcing it to happen faster.

[FUR11]

Interesting idea... How would you distribute that show? I don't know whether television would be the best way. Maybe you should just go ahead and try to do it on Twitch. You know, the operator of TwitchPlaysPokemon receives a crap ton of donations!

[billyjoeallen]

Interesting idea... How would you distribute that show? I don't know whether television would be the best way. Maybe you should just go ahead and try to do it on Twitch. You know, the operator of TwitchPlaysPokemon receives a crap ton of donations!

never heard of Twitch. I'll have to look into it.

[FUR11]

Interesting idea... How would you distribute that show? I don't know whether television would be the best way. Maybe you should just go ahead and try to do it on Twitch. You know, the operator of TwitchPlaysPokemon receives a crap ton of donations!

never heard of Twitch. I'll have to look into it.

Oh you should. It's a place where people usually stream themselves playing games (they stream the game). With TwitchPlaysPokemon the people watching the stream were able to enter the inputs for the first Pokemon game (Red) on the gameboy. They're actually in the middle of their 1-year-TPP run, and re-play Pokemon red right now: http://www.twitch.tv/twitchplayspokemon

[ajareselde]

it's night and it's slow so I'm going way off topic. I have an idea for a game show called BITCOIN BURN and we could put it on youtube or...something. The idea is that you have contestants competing at....something and the viewing audience votes for the winner, who then gets a prize.  but here's the catch:

You vote for your favorite contestant by sending bitcoins to an address with a lost key. Each contestant is assigned a different address and the one who gets the most money destroyed on their behalf wins the prize. Contestants can vote for themselves if they wish.
The idea of course is to prome bitcoin as a voting mechanism and to get as many bitcoins as possible lost forever, making OUR bitcoins more valuable.

So what I need is a good contest that's entertaining to watch, relatively inexpensive to produce, and wont get me sued or in prison. any ideas?

Ok the idea is ok to some point, but this "sending bitcoins to an address with a lost key" is bad. Why not just give each contentant assigned address and use the funds to promote next event?
would make more sence financialy, and "making OUR bitcoins more valuable. " .. well, it would make your bitcoins more valuable, but how much more 0,0000000001 % ?
The idea stands, if people find it interesting, they would watch and you would profit, and the contentants would get their share aswell.

cheers

[billyjoeallen]

it's night and it's slow so I'm going way off topic. I have an idea for a game show called BITCOIN BURN and we could put it on youtube or...something. The idea is that you have contestants competing at....something and the viewing audience votes for the winner, who then gets a prize.  but here's the catch:

You vote for your favorite contestant by sending bitcoins to an address with a lost key. Each contestant is assigned a different address and the one who gets the most money destroyed on their behalf wins the prize. Contestants can vote for themselves if they wish.
The idea of course is to prome bitcoin as a voting mechanism and to get as many bitcoins as possible lost forever, making OUR bitcoins more valuable.

So what I need is a good contest that's entertaining to watch, relatively inexpensive to produce, and wont get me sued or in prison. any ideas?

Ok the idea is ok to some point, but this "sending bitcoins to an address with a lost key" is bad. Why not just give each contentant assigned address and use the funds to promote next event?
would make more sence financialy, and "making OUR bitcoins more valuable. " .. well, it would make your bitcoins more valuable, but how much more 0,0000000001 % ?
The idea stands, if people find it interesting, they would watch and you would profit, and the contentants would get their share aswell.

cheers

I think the general idea of game shows is convincing people to do something stupid so we can laugh at them.

[ElectricMucus]

I think the general idea of game shows is convincing people to do something stupid so we can laugh at them.

You make a pretty good example.

[PenguinFire]

I would watch this show.

[podyx]

Instead of throwing them away, wouldn't it possibly be better to have them sent to an address which goes to starving kids in africa or something?

[NotLambchop]

...
I think the general idea of game shows is convincing people to do something stupid so we can laugh at them.

B...bu...but Billyjoe, we already have Bitcointalk.

[ajareselde]

Instead of throwing them away, wouldn't it possibly be better to have them sent to an address which goes to starving kids in africa or something?

You might want to explore a bit on the subject on funding african poverty problems, long story short, many of the funds go into private pockets and not to those in need.
Like i allready said, its better to just use the money to promote further development of the idea.

cheers

[billyjoeallen]

Instead of throwing them away, wouldn't it possibly be better to have them sent to an address which goes to starving kids in africa or something?

Distributing the value to current BTC holders is not throwing it away.

[podyx]

Instead of throwing them away, wouldn't it possibly be better to have them sent to an address which goes to starving kids in africa or something?

Distributing the value to current BTC holders is not throwing it away.

Well, I guess you can look at it that way but it won't make a big difference

I might get 0.005% richer out of your project so I guess I can't complain still I think it's silly to just carelessly throw it away just because the game rules says so..