[ANN] Blackcoin's own BLACKHOLE please read carefully

Nullu

hero member

Activity: 532

Merit: 500

Quote from: artiface on March 17, 2014, 08:51:27 AM

If you really want to destroy the coins that is fine with me, but you need to prove coins are being destroyed. It is not impossible, it is fairly simple actually, you just need to make an address that can receive coins, but that has no possible valid private key. Novacoin has done this and removed a number of coins from circulation.

But the point is if you are claiming you are going to destroy the coins, you need to prove it, not just hoard them somewhere and promise not to spend them. This is crypto world and no one trusts anyone. You have to prove it.

Also, if people wanted to destroy the coins, they would be better off just doing it themselves, why should they mine bitcoin to your account, then trust you to buy BC with it and then trust you to destroy them.

Following this example https://bitcointalksearch.org/topic/110k-premined-nvc-is-successfully-destroyed-144158
Using the adress creator at http://gobittest.appspot.com/Address

Public ECDSA Key: 0400000000000000000000000000000000000000000000000000000000000000000000000000000 000000000000000000000000000000000000000000000000000

in our case we need to use 0x19 as the network address version, so in adding network bytes to 3 section we put:
193B4DF4363CAA9E3BD9DA58020D3080BE8230A4AE

Pressing send we get

B9resNMqAzU2pPTCbV4jAKAazgPmMNciZP

Is a blackoin blackhole. This address can receive coins but no one will ever be able to spend them because the public key is invalid. You can also verify on the block explorer that coins have been sent there and thus destroyed. I sent 1 BC there - TXID 936f30eadafd73c008bceb5abcd8086307775e2c38e26f133cb6b8361b7c3b88

This is how you do it right.

+1

publicjud

legendary

Activity: 1120

Merit: 1003

twet.ch/inv/62d7ae96

Quote from: r0b1nuk on March 17, 2014, 05:48:10 AM

lol so plenty of resistance and i knew it was coming when i came up with the idea

i understand thats its a far fetched idea and there are plenty of sceptics but i have spoken to the devs and they say its a good idea and if people are really worried that these coins wont be lost then i said i would send the coins to them and they can get rid of them.

im not saying mine all of the time. im not saying mine at all even, but if your rig went down and you had no idea it would be creating value to a coin that hopefully you are all invested in. its just a handy way to increase value blackcoin. please its just a service and a way to increase the value of these coins.
sounds retarded, crazy, wont work.... your probably right but i believe in this coin. this coin will get to the top without this im sure. the new tech being implemented on the blackcoin multi pool will create this eventually but at a slower rate. its just something that ive seen work on insanity coin.

im happy to put my neck on the line to be a laughing stock

just trying to help :->

The valuation of a coin really comes down to it's market cap. I don't see this as increasing any coins market cap.

artiface

full member

Activity: 238

Merit: 100

If you really want to destroy the coins that is fine with me, but you need to prove coins are being destroyed. It is not impossible, it is fairly simple actually, you just need to make an address that can receive coins, but that has no possible valid private key. Novacoin has done this and removed a number of coins from circulation.

But the point is if you are claiming you are going to destroy the coins, you need to prove it, not just hoard them somewhere and promise not to spend them. This is crypto world and no one trusts anyone. You have to prove it.

Also, if people wanted to destroy the coins, they would be better off just doing it themselves, why should they mine bitcoin to your account, then trust you to buy BC with it and then trust you to destroy them.

Following this example https://bitcointalksearch.org/topic/110k-premined-nvc-is-successfully-destroyed-144158
Using the adress creator at http://gobittest.appspot.com/Address

Public ECDSA Key: 0400000000000000000000000000000000000000000000000000000000000000000000000000000 000000000000000000000000000000000000000000000000000

in our case we need to use 0x19 as the network address version, so in adding network bytes to 3 section we put:
http://blocks.blackcoin.pw/t/6b41PujpDG

Pressing send we get

B9resNMqAzU2pPTCbV4jAKAazgPmMNciZP

Is a blackoin blackhole. This address can receive coins but no one will ever be able to spend them because the ~~public~~ private key is invalid. You can also verify on the block explorer that coins have been sent there and thus destroyed. I sent 1 BC there - TXID 936f30eadafd73c008bceb5abcd8086307775e2c38e26f133cb6b8361b7c3b88

r0b1nuk

full member

Activity: 153

Merit: 100

lol so plenty of resistance and i knew it was coming when i came up with the idea

i understand thats its a far fetched idea and there are plenty of sceptics but i have spoken to the devs and they say its a good idea and if people are really worried that these coins wont be lost then i said i would send the coins to them and they can get rid of them.

im not saying mine all of the time. im not saying mine at all even, but if your rig went down and you had no idea it would be creating value to a coin that hopefully you are all invested in. its just a handy way to increase value blackcoin. please its just a service and a way to increase the value of these coins.
sounds retarded, crazy, wont work.... your probably right but i believe in this coin. this coin will get to the top without this im sure. the new tech being implemented on the blackcoin multi pool will create this eventually but at a slower rate. its just something that ive seen work on insanity coin.

im happy to put my neck on the line to be a laughing stock

just trying to help :->

blajde

sr. member

Activity: 364

Merit: 250

Pre-sale - March 18

You own it? closed source? Gl

Len

full member

Activity: 177

Merit: 100

Use your hash elsewhere and send them to me instead and I promise I wont spend them lol

PyroClasTix

newbie

Activity: 56

Merit: 0

Wait...what...

coine_smithe

sr. member

Activity: 322

Merit: 250

Why spend mining power to get no reward, when everyone else can either use the multipool that pays in BC, or other multipools that pay in BTC and buy BC? You're just going to waste your hashing power on this. It's completely retarded. Sorry.

Nullu

hero member

Activity: 532

Merit: 500

Hilarious.

How are you going to destroy the coins, and better yet verify they're un-spendable?

There are ways of actually doing this, but I assume that because you have mentioned none of them, that people are just supposed to send you Blackcoins and hope you don't spend them?

This just isn't going to work. Sorry.

peterlustig

sr. member

Activity: 812

Merit: 250

The Fourth Generation of Blockchain in DeFi

That is actually a cool idea if implemented well.

artiface

full member

Activity: 238

Merit: 100

How is sending them to this address "destroying" them??

There are ways to destroy them, come up with an address that passes the basic sanity checks but is internally invalid. You can know for sure that no key could possibly match this address.

If your intent is really to permanently remove them from circulation then you need to prove there can be no possible private key matching the address you are using for destruction, otherwise this is just moving coins to your personal wallet.

publicjud

legendary

Activity: 1120

Merit: 1003

twet.ch/inv/62d7ae96

Quote from: r0b1nuk on March 16, 2014, 03:22:41 PM

its very true you can just use the multipool

this is purely just a service thats available for the coin

its no dumber than insanitycoin or (wolf) and it works very well for them

Anyone who would take part in this is not thinking clearly.

r0b1nuk

full member

Activity: 153

Merit: 100

its very true you can just use the multipool

this is purely just a service thats available for the coin

its no dumber than insanitycoin or (wolf) and it works very well for them

publicjud

legendary

Activity: 1120

Merit: 1003

twet.ch/inv/62d7ae96

The dumbest thing I have seen in awhile.

stormia

hero member

Activity: 868

Merit: 1000

Interesting idea but seems like a bit of an unfair advantage for the people who already have masses of BC.. Essentially providing "buy" support without there actually being any new investors/bagholders, thereby artificially raising the price and making it harder for new investors to get in.. Screams to me: Use your hashpower to make those lucky few who managed to mine during the one week it was available richer! Roll Eyes

Why wouldn't I just use the multipool and actually get paid the BC I mine while still providing buy support? That way I increase demand while increasing my stake in the coin, rather than simply destroying the supply thereby making it harder to distribute the coin and mostly benefiting those who already have a large stake in the coin. Through the multipool, BC can be distributed to new investors who are now able to get involved with this coin using their rigs and who add real buy support. Through this.. idk...

chango

full member

Activity: 154

Merit: 100

This is a stupid idea :p. but I hope some people follow so my coins go up in value :p.

r0b1nuk

full member

Activity: 153

Merit: 100

a better way of monitoring the mining account for the middlecoin - http://middlestats.circlestorm.org/

r0b1nuk

full member

Activity: 153

Merit: 100

im as genuine as they come mike

mellomike

member

Activity: 84

Merit: 10

NO THANKS .... Shady Business...

r0b1nuk

full member

Activity: 153

Merit: 100

THE BLACKCOIN BLACKHOLE

DUE TO THE SUCCESS OF THE BLACKCOIN MULTIPOOL I HAVE NOTICED THAT A FEW PEOPLE HAVE ASKED FOR AN ACTUAL BLACKCOIN BLACKHOLE SO HERE IT IS

PLEASE BE AWARE THAT THIS WILL LEAD TO THE DESTRUCTION OF BLACKCOINS FROM THE EXCHANGES THEREFORE CREATING VALUE TO THE COIN

Its quite simple, i have created a multipool account that can accomodate as many miners as needed with www.middlecoin.com this service automatically mines the most profitable coin on a multipool and it automatically converts the profits to bitcoin. i might just add i have nothing to do with middle i just want to use it as i dont have to worry about selling other altcoins. the bitcoin created will be used to buy up blackcoin at the cheapest exchange, generally mintpal and then once brought will be sent to a wallet that has been created just for this. the reason for this is so that people can track the account volume on the blackcoin account checker and will be able to see nohting is being taken out which is updated every hour

STEP BY STEP GUIDE

1. Point your miner to cgminer --scrypt -o stratum+tcp://middlecoin.com:3333 -u <1HGT2ujmvzFBjE7q63PRpjsq7NU25ax8E5> -p x
it must be this exact text so it can all be tracked

2. You can check the progress of everyone combined at http://www.middlecoin.com/allusers.html just look for 1HGT2ujmvzFBjE7q63PRpjsq7NU25ax8E5

3. you will be able to check the balance of the bitcoin wallet here https://blockchain.info/

4. You will then be able to check the balance of the removed blackcoin wallet at http://agran.net/bc_getbalance.php?top=100 or even on http://maarx.nl/maarx.nl/blackcoin/distribution/ just search the destroyed wallet address BFZ5WeiDLJkndkoiX2mqSJs4db3BvAPjKs‏

BLACKCOIN GONE FOR GOOD!

Now i know there will sceptics and people calling me a fraud but theres plenty of people on here that will vouch that im not a fraud

You dont even have to mine here you can just have this as a failover

The blackcoin will brought and traded manually. im not going to set times it will be a case of when bitcoin is ready to spend

WHY DESTROY BLACKCOIN?
simple, increase the value! you must realise you are mining to increase the value of blackcoin. you will not receive any coins for your contribution.

WHY TRUST ME?
Well im a firm believer of this coin, i think it has the potential to go to the top. i have no need to steal of fruad this method of any of its profits. al i can say is testing this method is going to be the only proof

Topic: [ANN] Blackcoin's own BLACKHOLE please read carefully (Read 2999 times)