Topic: [ANN] [BARR] The Only Cryptocurrency Where No One's Ever Lost Money - page 3. (Read 39371 times)

This is nice I never even knew about this coin. Were does it trade though? On your site it says something about it being worth 10k for a Barr. How many bunny coins must I sell to get a Barr ?

We have plenty of buys and sells, everyone is welcome to trade - not that anyone could stop them, since it all happens trustless and decentralized on the NXT blockchain!

more BURN,
then more BARR,
then the market gets some liquidity.

NXT assets need some trade action, BARR is a great project to fire up again.

 

i was wrong on several decimals, this happens
so it says that i'm right much more

NXT is currently 800 satoshis, and BARR is currently over 10 NXT, which makes it over 8000 satoshis. 

So 23,000 BARR would be about 2 BTC, or about $2,000

please don't say again that i'm a troll, maybe i don't understand your things at 100% still
but vote to "burn nothing" was a 23000 BARR at 24 january
at that time it was equal of 0.018 BTC
not so big amount but at the same time i have no certainty that someone will not vote by 25000 BARR to burn nothing after i vote by 24000 BARR to burn bla-bla-coin
so i'm losing 0.018 BTC if it will happens

The latest vote was to burn nothing, and the votes roll over until someone outvotes for a particular coin.  There probably won't be any burns next month.  If the price of NXT goes up significantly, it would increase our ability to burn more coins with larger marketcaps.  So right now we're mostly waiting for that to happen.

1. see the first page with eligible coin list
2. vote for preferred coin by your BARR
3. wait for burn period begins
4. burn

Does anyone know when the next burn period will be and what coins will be burned? I've been having a hard time trying to find the list of coins to be burned right now. I want to know if I should invest in this asset, but I don't know what I should burn first. I feel like a dedicated blog or social media account would be good for conveying this info, as it appears to change at varying intervals of time.

BARR needs more BURN!

We've always kept open the ability to switch our entire operation to another blockchain, but for now there wouldn't be many advantages.

The NXT blockchain has hundreds of active nodes at all times, and has top-notch active development.  We get all the benefits of that for the low price of 1 NXT per transaction.  Every BARR transaction is transparent on the NXT blockchain, and we get more security and stability than we would otherwise have at this point.

Most importantly, BARR can never be delisted from trading as long as NXT exists.  We burned Keycoin and Fractalcoin and Sapience AIFX, and many of those coins were lost at Cryptsy.  But no BARR was ever lost at Cryptsy, because we've never needed to trust a centralized exchange with our money.  The people who didn't lose their KEY and FRAC and XAI at Cryptsy still can't trade it anywhere, and most likely they can't even send it because those networks and blockchains are pretty much dead with no devs to fix them.

Ideally, our process would be fully decentralized at every step.  You send your altcoins to the burn address, and our blockchain would automatically issue you the corresponding amount of BARR.  But that is currently impossible, since it would require our blockchain to sync with every blockchain that we burn - our wallet would have to function as a wallet for every other coin, downloading the entire blockchain of each coin.  We would also have to hardfork every time we added a new coin, and it could require more storage space than Bitcoin and Ethereum combined.  Plus since our nodes would have to function as nodes for the altcoins we burn, we would actually be strengthening the networks of the coins we're trying to get rid of.  And even if we could do all of that, there would still have to be a centralized authority doing the hardfork every month, and a centralized authority setting the exchange rates on the blockchain.

As it is now, once you get your BARR you have the most decentralized coin possible.  It does everything other altcoins do, and you can also trade it on a decentralized blockchain with no middle-men. 

Thanks, looks interesting and we'll check it out.  We always need good recommendations for coins to burn.

Foobar cant be an appealing idea, its snip, nothing, null foo - barrrrrrr As u purchased it u should be aware that u did a favor to someone trying to get rid off that garbage at any cost, by putting ur investment in danger of disappearing. Im not ur buddy and wont give u a free advice, but be man and dont cry next time when u get burned and resort to begging money on the streets, resulting in u being killed by police or other beggars that dont like competition while asking for money.

This is definitely an interesting idea (and one that could very potentially work)! I like NXT/Ardor, but both BARR and OFFS are user issued NXT assets, which I do not like. If you ever decide to implement this idea with its own side-chain/ledger, I would definitely be interested. Any chances of something like that happening?

Have you considered speaking to the development team at BeginnerCoin? Their premise is to develop an altcoin that gets average people to understand cryptocurrency. From what I understand, they've been going through some rough times right now. They have maybe one or two exchanges trading their coin and I think the one third-party mining pool that supported them dropped out on their coin. Right now, most people are solo mining on their wallets (since it's a SHA-256d coin, that's practically unprofitable). Maybe you can speak with someone on their dev team and maybe you could reach some mutual agreement.

Here's their website:
http://www.beginnercoin.com

i'm not troll, you are wrong
yes, i did many burns in nov-dec 2015 then sold BARR immediately and had x2-x3 profit
what's bad about it ? eventually we all here for the sake of "Mr Profit"
now there is no such profit and i'm a little disappointed but i still like conception of BARR and i keep watching the thread

Don't listen to casper, he's a troll who got BARR just so he could immediately dump it for a loss, fill all the buy orders, and then come here and ask why there were no buy orders.  He literally chose to lose money just to fud us.  We probably should have banned him from this topic and from participating in BARR burn exchanges, but that was a long time ago and there have been plenty of buy orders for the past year.  

The truth is that we select coins by public voting on the blockchain, so that any BARR holder can participate and anyone can see the voting as it happens in a decentralized way.  But very few people have ever participated, so there's not much to keep up with.  

If we had 100 people who held their BARR after burning the altcoins they had been holding, then we would have a lot of volume, a lot of participation, and the ability to burn a lot more coins.  But as it is, almost everyone has chosen to sell instead of holding, so we don't have the ability to do much right now.  

When we burned $40,000 worth of altcoins, and issued an equivalent amount of BARR to the people who burned the coins, that $40,000 worth of BARR mostly got sold on the NXT Asset Exchange except for what belongs to BARR devs and runpaint (me).  And when it got sold, there weren't many people buying other than us.  

So between the BARR market and the altcoin markets during burn periods, I've put all the savings in crypto that I had into BARR.  Every time we burned an altcoin, I had to spend several bitcoins to support the price of BARR while everyone else was dumping and getting rid of their bags of altcoins.  

Now that I don't have any more bitcoins, it's not a good idea to burn another altcoin without anybody helping to support BARR.  We have a few thousands dollars worth of buy orders for BARR on the Asset Exchange, but those could all get filled if we burned a single small-marketcap altcoin.  Then the price of BARR could drop to almost nothing, and then we wouldn't have enough marketcap to offer burn redemption even for a small coin.  

That's why we've voted to burn nothing for the next burn period, and those votes roll over until someone else spends enough BARR to outvote the votes for "nothing".  In order to outvote us, someone would have to buy some BARR.  Buying BARR is what needs to happen before we can burn any more coins.  If they want us to help them and their coin, they first have to help us and our coin.

But also we're waiting to see what happens with the price of NXT, ARDR, and Bitcoin.  Since BARR is traded in NXT, and NXT is currently down, that also limits our buying power.  If NXT goes to the moon, then that alone could possibly allow BARR to burn lots of altcoins without anyone else putting money in.  

it's very secret information 
vote for your preferred coin by your BARR
maybe you (or we) will be winners

So what altcoins will be chosen for the next burn period?

That's correct, thanks!