Purchases will be with QTL. There will be a dollar amount for the purchase so the amount of QTL needed will be based on its btc value.
MarKus are you burning the coin or placing it back in circulation, either way I understand - it would just be good to know thats all.I posted not too far back...
Quote
Halving Update will occur soon after release of the new Real time app and the new quatloo trader that will be purchased by license.. 40% of raised qtl from purchases will be burned.. legacy trader will be supported under the 'holding qtl at the exchanges' regime.
The Burn address : QLbz7JHiBTspS962RLKV8GndWFwiJNvEPz
DO NOT SEND QTL TO THAT ADDRESS UNLESS YOU WANT THEM LOST AND UNUSEABLE FOREVER!
Thats really cool, awesome news.
Why don't you use a vanity address to burn the coins noone can have the private key for? Just sayin
By definition a burn address does not have a valid private key. The address I listed is a burn address and can be proven to be so.
Forgive the pedantry, but you can't prove a negative. There is no way for you to prove that you do not have the key to that address.
Coinbird has a point, Its easier for people to believe that you don't have the key if you find one like qtlburn123xxxxxxxxx, one that would take ages to find with vanitygen and has a 1 in a trillion chance of being generated randomly.
Ninja edit: That isn't a burn address like people are used to. There has been a tx out of that addy, that means someone had the key at some point.
Do you mean that you will be destroying the qtl via excessive fees? Or will you be locking them up in that address for all eternity?
Would you like to share that process that you used to generate it? Just saying that someone can doesn't tell us how it is done. AFAIK there are 2 ways to "burn" coins, 1) Sending them to a vanity address that is unlikely to have an existing private key or 2) destroy them by sending them in a small tx as the fee. That address has a "destroyed" coins transaction so your not simply storing the coins at an inaccessible address.
