I want to open discussion about funds that were used to burn bits for batllestar coin. My thoughts are that instead of burning those funds we put them on escrow for futher developments for bits. So the funds would be used to pay devs for their work for bits. Right now it feels to me that there isnt much happening so maybe this could give new boost for development. Currently those funds are valued in bitcoin 27-28btc. Let's have some discussions!
There isn't much happening because there isn't much which can happen at the moment. As was explained earlier in the year, until iDEX is ready the ATM side of the project can't proceed. This is one of the reasons why we chose to use this time to develop the collaboration with the devs for BATL.
As for using the burned funds, that would then change the BATL distribution into an ICO, which was not at all the intent of the process and brings with it numerous complications and potential legal ramifications. Besides, should the BATL project succeed then the notion of burning BITS to distribute a new coin in order to establish a vested interest in it without the downside of a giveaway or the legal minefield of an ICO, serves to benefit both sides of the equation.
The burned coins are scheduled to be omitted when the new BITS wallet based on the same codebase as BATL is released. This will provably destroy the coins and reduce the total coin count accordingly.