Topic: destroying bitcoins - page 2. (Read 5653 times)
I realize this is not a logical solution but if we really wanted to do this could we not essentially accomplish the same thing by changing Bitcoin itself, increasing the transaction fee by .001 and discarding it? Obviously screws with the whole concept of Bitcoin, but the point is... don't send this guy any coins!
Let's try it with gold next. Start destroying all your gold (I don't even know how). If we each destroy one ounce of gold I will be richer in no time.
P.S. You have a lot of work ahead if you hope to change the price of bitcoin. You have done 10 Satoshi so far that = USD $0.0000217660. Not even close to one single penny.
Compare that to like 3600 BTC produced per day. You are going to have to convince people to destroy about $7,000 dollars worth of BTC per day to have any impact. Good luck.
P.S. You have a lot of work ahead if you hope to change the price of bitcoin. You have done 10 Satoshi so far that = USD $0.0000217660. Not even close to one single penny.
Compare that to like 3600 BTC produced per day. You are going to have to convince people to destroy about $7,000 dollars worth of BTC per day to have any impact. Good luck.
better to destroy fiat and decrease inflation, thus making fiat stronger and as a consequence bitcoin also
bitcoin are too precious too be destroyed
Exactly bitcoin has a limited supply of 21 million coins which is really low. By burning coins juts cause a deflation to the bitcoin economy which isn't good at all. Burning coins would be helpful if the supply was inflated which is not the case here. bitcoin are too precious too be destroyed
better to destroy fiat and decrease inflation, thus making fiat stronger and as a consequence bitcoin also
bitcoin are too precious too be destroyed
bitcoin are too precious too be destroyed
Fiat is like paycoin, 350% more printed per day, destroying does nothing
better to destroy fiat and decrease inflation, thus making fiat stronger and as a consequence bitcoin also
bitcoin are too precious too be destroyed
bitcoin are too precious too be destroyed
I notice the OP has replaced his own address with the known Bitcoin Eater address now:
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE
Probably he wasn't aware earlier that there was already a Bitcoin Eater address.
So it is no more a scam
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE
Probably he wasn't aware earlier that there was already a Bitcoin Eater address.
So it is no more a scam
This happened:
https://bitcointalksearch.org/topic/m.10941590
Wow.. glad to see you went that extra mile to stop him from scamming everyone.
Although it is also sad that people like him acn abuse the trust system to the full extent and blackmail people on this regard.
I guess I can no longer give him a benefit of doubt. He purposefully tried to scam people. I hope nobody sent any satoshi to the old address.
I notice the OP has replaced his own address with the known Bitcoin Eater address now:
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE
Probably he wasn't aware earlier that there was already a Bitcoin Eater address.
So it is no more a scam
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE
Probably he wasn't aware earlier that there was already a Bitcoin Eater address.
So it is no more a scam
This happened:
https://bitcointalksearch.org/topic/m.10941590
I notice the OP has replaced his own address with the known Bitcoin Eater address now:
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE
Probably he wasn't aware earlier that there was already a Bitcoin Eater address.
So it is no more a scam, but still I see no reason for the price to go up just by limiting the available quantity.
There are millions on coins in existence, a few coins distroyed here and there can't make much difference.
https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE
Probably he wasn't aware earlier that there was already a Bitcoin Eater address.
So it is no more a scam, but still I see no reason for the price to go up just by limiting the available quantity.
There are millions on coins in existence, a few coins distroyed here and there can't make much difference.
I've destroyed some earlier
Another day, another scammer trying desperately to run a scam. The major problem with bitcoin is that it's a scammer's delight. A honey pot for fraud. If the OP actually wants to increase the value of bitcoins then how about starting a business that provides real value?
The current problem is not lacking of business that provides real value, in fact there are too many of them and they are going bankrupt because people don't have enough money to spend. Increase the bitcoin price will give people more money to spend, thus save those businesses
Just like creating more USD will stimulate economy, higher bitcoin value will stimulate economy too
Another day, another scammer trying desperately to run a scam. The major problem with bitcoin is that it's a scammer's delight. A honey pot for fraud. If the OP actually wants to increase the value of bitcoins then how about starting a business that provides real value?
Similar to diamond dealers lock up most of the diamonds and sell only a few at high price
Maybe you are correct, but remember that diamond or gold are not similar to bitcoin so your thought is not 100% valid.
Ps: destroy it or "hide" hold a part doesn't necessary rise the price (at least here with btc).
Similar to diamond dealers lock up most of the diamonds and sell only a few at high price
Be patient. Everything hasl change. 
haha if I had I would send some bitcoin to that wallet, even though it's your
don't need to do anything like that, just relax OP .. we know at this time we had a low price. but still believe someday the price will go back.. just be patience
if I had I would send some bitcoin to that wallet, even though it's yourdon't need to do anything like that, just relax OP .. we know at this time we had a low price. but still believe someday the price will go back.. just be patience
There is no need to destroy anything Keep your calm If! If btc is to take global dominance the price will rise no matter what It doesn't matter if the price today is 50$ higher or lower There is a big road ahead of us, don't panic There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed Keep it cool guys
Keep your calm If! If btc is to take global dominance the price will rise no matter what It doesn't matter if the price today is 50$ higher or lower There is a big road ahead of us, don't panic There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed Keep it cool guys Woouw such emoticon, only one question: will you use bitcoin if tomorrow the price will be 100 dollars? Yes or No. I hope you will reply to my question with a full explanation (and please don't use a lot of smilies,thanks).
It is a simple answer really
I bought some bitcoins so I would be sad a bit about 100$ price, but not that much since I would think the price would go up As to using them I can't even see how that is an issue; that is if you want to USE bitcoin - you can use it no matter the price. Just buy it for a current price and use it for a current price, whats the problem there
Ups... those emoticons... 
There is no need to destroy anything Keep your calm If! If btc is to take global dominance the price will rise no matter what It doesn't matter if the price today is 50$ higher or lower There is a big road ahead of us, don't panic There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed Keep it cool guys
Keep your calm If! If btc is to take global dominance the price will rise no matter what It doesn't matter if the price today is 50$ higher or lower There is a big road ahead of us, don't panic There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed Keep it cool guys Woouw such emoticon, only one question: will you use bitcoin if tomorrow the price will be 100 dollars? Yes or No. I hope you will reply to my question with a full explanation (and please don't use a lot of smilies,thanks).
There is no need to destroy anything Keep your calm If! If btc is to take global dominance the price will rise no matter what It doesn't matter if the price today is 50$ higher or lower There is a big road ahead of us, don't panic There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed Keep it cool guys
Keep your calm If! If btc is to take global dominance the price will rise no matter what It doesn't matter if the price today is 50$ higher or lower There is a big road ahead of us, don't panic There is not too much bitcoins for sure and there will not be too much - be sure about that. There is a problem that there might be too few btc, but I am sure it will be addressed Keep it cool guys 
You said that if demands go down, the price will decreased? Hahaha your talking to demand and supply relationship. The demand and price relationship is when the demand goes down the price will increased. And vice versa
Demand going down means that people are willing to pay less per Bitcoin.
Quote
Demand is a buyer's willingness and ability to pay a price for a specific quantity of a good or service. Demand refers to how much (quantity) of a product or service is desired by buyers at various prices. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand.[1] (see also supply and demand). The term demand signifies the ability or the willingness to buy a particular commodity at a given point of time, ceteris paribus.
http://en.wikipedia.org/wiki/Demand
I agree with your sentence, but I think you know that if bitcoin will be "largely" used the price will low and not the contrary. The value and the price of a thing are not always the same thing and destroy it (in my honest opinion) will not rise the value.
PS: I think the halving will generate a sort of pump, but we will never see again 1'000 dollar/bitcoin (it is not possible, but maybe when the reward will be less than 1 btc we can start think about one thousand of dollars per bitcoin).
But that thinking is wrong. The price won't be low, we will be using something like bits, or satoshis. Imagine if you have 500mil users. At least some of them have to hold a certain amount of Bitcoins. I mean they will hold them back, not use them. The market won't be able to support the demand at the current price. That's why Bitcoin can skyrocket more than anything, as we've seen this in the past.PS: I think the halving will generate a sort of pump, but we will never see again 1'000 dollar/bitcoin (it is not possible, but maybe when the reward will be less than 1 btc we can start think about one thousand of dollars per bitcoin).
$1000 is actually quite easy to reach. If the ETF is successful after launch, who knows where the price will be.
I don't know if you are wrong or not, but are you agree with me when I am saying the halving will generate a sort of pump. I don't "think" the ETF will rise the price to ~1'000 dollars, most probable around 500-600 dollars.
just my personal opinion (and I want to share it with the community).
You are incorrect. You said that if demands go down, the price will decreased? Hahaha your talking to demand and supply relationship. The demand and price relationship is when the demand goes down the price will increased. And vice versa
If no one buy, can you tell me how the price should increase? It is almost impossible that the price raise if no one (or only a few quantity of person) buy bitcoins.
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