FLOZ canceled!, Please see second post for details!
Overview :Digital Credits is distributed with the PoW and PoS methods, but that is not the only way to get credits. Digital Credits is also a Proof of Burn Coin. So what is Proof of Burn? Each month we select a dead altcoin with no active development and offer a trade of that coin for Digital Credits at fair market rate. All the coins we buy up we then destroy by burning them. This makes sure the coins will never be traded again, they are gone forever. But you Get Digital Credits as a reward. We will be hosting Block Explorers and multiple Nodes to insure the selected coins stay alive during the entire process. Some are Proof of Work coins while others are PoS coin, so you will be able to both mine and stake the coins during the 30 day process and then burn them off at the end. You also have the option of just buying them up on the exchanges and burning them right away. The choice is yours. The sell price set will be slightly above market rate in order to encourage burning.
Burn Fund : 200 million credits have been created for the purpose of burning other coins, as we have said before we will divert credits from this fund to use for other purposes if supported by the community. Recently we held a public vote on our site and it was agreed to divert 1 million credits to Yobit for giveaway in their Faucet. These credits are being given away 5 at a time every hour to Yobit Users. This was done to increase trade volume and get more people involved in Digital Credits. If you want a piece of this giveaway, go to Yobit and take it. The rest of the credits are currently sitting in cold storage.
Your Suggestions Welcome : This thread was also created to brainstorm with you the community on our future burn targets. Burn will last 30 days which will allow you time to mine the targets and gather up all your coins to burn. We have a few ideas of our own but I wanted to invite all of you to submit suggestions on which coins you think we should target. Please remember to include a reason why you think your suggested coin is ripe for burning. You can post your suggestion in this thread or send it to me via a private message if you prefer. Thank you!
Some things to keep in mind when suggesting a coin:
1. Active nodes are important, there is no reason to bring completely dead coins back to life just to burn them.
2. We will not burn coins under active development no matter how dead they may seem.
3. Little to no trade volume, this rule is flexible if a coins trade volume is clearly pumping and dumping scams. (under 0.2 BTC weekly Average of normal volume)
4. Little to no Hash rate. (Meaning dead pools, no pools, slow transaction time do to little or slow block generation, hard to sync wallets, no block explorers)
Please make your suggestions below or ask any questions that you may have.
Be sure to visit our website here :
http://dcredits.com/
Do to the fact we dropped one of the targets we will only be burning two coins, One is a PoW coin, The other is a PoS coin. Both are listed only on YoBit and are dirt cheap.
