★★★ PandaCoin [PND] ★★★ New devs, old community ★ 100,000 PND burned every day - page 12.

Bitdonator

legendary

Activity: 1223

Merit: 1002

Quote from: BanzaiBTC on January 21, 2016, 02:20:41 AM

Nice.. Still holding 35 million of these myself

Just a sidenote... Lets do some math here..

There is a total of 32 billion coins
We stake at a 2.5% rate a year.

That is a shocking 800 Million new PND each year through staking IF the whole supply is staking.
Now that is never the case, so lets make that 1/4

200 million new PND a year.

200million / 365 = 547945.2054794521 PND a day..

So to make a difference with burning coins.. There needs to be a lot of coins burned each day.. Just saying.. Lips sealed

Dev says a few monts ago that many billions (5 billions or more) will be burned once he start
swap and launch new coin. This 100,000 PND burning per day is just a little test, if I understand well.

PND will be swapped for new coin in 1000:1 ratio (or 10000:1)

BanzaiBTC

legendary

Activity: 1526

Merit: 1002

Chipcoin Developer

Nice.. Still holding 35 million of these myself

Just a sidenote... Lets do some math here..

There is a total of 32 billion coins
We stake at a 2.5% rate a year.

That is a shocking 800 Million new PND each year through staking IF the whole supply is staking.
Now that is never the case, so lets make that 1/4

200 million new PND a year.

200million / 365 = 547945.2054794521 PND a day..

So to make a difference with burning coins.. There needs to be a lot of coins burned each day.. Just saying.. Lips sealed

Topknotbam

legendary

Activity: 1938

Merit: 1014

Quote from: PandaCoinTeam on January 20, 2016, 11:33:35 AM

Burning day Nr. 5 Grin

100,000 PND burned
Total burned ammount: 500,000

https://bchain.info/PND/tx/eb19c1c6e74d4a47ad0d81cf7fb031b2c77fd55c7b3860a3dfacee0bbf05265f

The burning of the coin continues. Thank you Dev. It's a good news.

PandaCoinTeam

member

Activity: 84

Merit: 10

Burning day Nr. 5 Grin

100,000 PND burned
Total burned ammount: 500,000

https://bchain.info/PND/tx/eb19c1c6e74d4a47ad0d81cf7fb031b2c77fd55c7b3860a3dfacee0bbf05265f

PandaCoinTeam

member

Activity: 84

Merit: 10

Quote from: L-Andrey on January 20, 2016, 04:52:44 AM

Quote from: PandaCoinTeam on January 18, 2016, 12:19:36 PM

... we
launch ICO for new coin. Just be patient for next few months Wink

what does it mean? double scam? is it an attempt to redeem the PND for a new shitcoins? what is the guarantee that all of PND will be destroyed?

As you see, we are curently in process of burning PandaCoin.
Burning address we use is:
https://bchain.info/PND/addr/P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8
If you look at address hash, you will notice that hash is:
0000000000000000000000000000000000000000
That prove that balance from this address is unspendable.

Once we start swap for new coin, users need to send
PND directly to similar address (generated specialy for swap)
and register their new coin address via form.
Coin will be sent to users after coin launch.

L-Andrey

newbie

Activity: 45

Merit: 0

Quote from: PandaCoinTeam on January 18, 2016, 12:19:36 PM

... we
launch ICO for new coin. Just be patient for next few months Wink

what does it mean? double scam? is it an attempt to redeem the PND for a new shitcoins? what is the guarantee that all of PND will be destroyed?

Bitdonator

legendary

Activity: 1223

Merit: 1002

I see that cryptocurrencies is something new for you.
I sugest you to read this glossary:

http://www.coindesk.com/information/bitcoin-glossary/

VDechand

sr. member

Activity: 358

Merit: 250

Quote from: PandaCoinTeam on January 19, 2016, 01:18:40 AM

Quote from: VDechand on January 18, 2016, 04:54:25 PM

hello, i have a question with the burn system,

i have 3 million pnd coins. can i lost my coins with the burning?

sry for my bad english

You cant loose your Pandacoins.
We burn our coins generated by staking, from our wallet.
Burning mean that its impossible to spend burned coins,
so other Pandacoins of other users becoming more valueable

If only you know private key of your wallet, your coins are safe.

For latest updates, follow us on twitter:
https://twitter.com/PandacoinTeam

All my PND coins are on my wallet. What is a private key?

PandaCoinTeam

member

Activity: 84

Merit: 10

Quote from: VDechand on January 18, 2016, 04:54:25 PM

hello, i have a question with the burn system,

i have 3 million pnd coins. can i lost my coins with the burning?

sry for my bad english

You cant loose your Pandacoins.
We burn our coins generated by staking, from our wallet.
Burning mean that its impossible to spend burned coins,
so other Pandacoins of other users becoming more valueable

If only you know private key of your wallet, your coins are safe.

For latest updates, follow us on twitter:
https://twitter.com/PandacoinTeam

VDechand

sr. member

Activity: 358

Merit: 250

hello, i have a question with the burn system,

i have 3 million pnd coins. can i lost my coins with the burning?

sry for my bad english

PandaCoinTeam

member

Activity: 84

Merit: 10

Oh, forget to mention...
we burn 100,000 PND again:
https://bchain.info/PND/addr/P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8

Total PND burned: 300,000

PandaCoinTeam

member

Activity: 84

Merit: 10

Quote from: Bitdonator on January 18, 2016, 08:13:01 AM

Quote from: BurstIncomeAsset on January 18, 2016, 02:51:33 AM

Quote from: PandaCoinTeam on January 17, 2016, 11:13:57 AM

Another 100,000 PND burned a few minutes ago:
https://bchain.info/PND/addr/P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8

Total burned Pandacoins: 200,000
New burn tommorow

Ok now it is getting interesting, we can see 5-10 satoshi PND in notime with this pace, keep buying PND:

https://yobit.net/en/trade/PND/BTC

LoL you make me laugh everytime I read your post in this thread Wink

Dev burn coins every day, and thats good thing, but Pandacoin need a lot of work
to raise to 10 sat.

Actualy, we think it will be easy to reach 7-10 satoshi once we
launch ICO for new coin. Just be patient for next few months Wink

Bitdonator

legendary

Activity: 1223

Merit: 1002

Quote from: BurstIncomeAsset on January 18, 2016, 02:51:33 AM

Quote from: PandaCoinTeam on January 17, 2016, 11:13:57 AM

Another 100,000 PND burned a few minutes ago:
https://bchain.info/PND/addr/P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8

Total burned Pandacoins: 200,000
New burn tommorow

Ok now it is getting interesting, we can see 5-10 satoshi PND in notime with this pace, keep buying PND:

https://yobit.net/en/trade/PND/BTC

LoL you make me laugh everytime I read your post in this thread Wink

Dev burn coins every day, and thats good thing, but Pandacoin need a lot of work
to raise to 10 sat.

BurstIncomeAsset

hero member

Activity: 504

Merit: 512

Quote from: PandaCoinTeam on January 17, 2016, 11:13:57 AM

Another 100,000 PND burned a few minutes ago:
https://bchain.info/PND/addr/P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8

Total burned Pandacoins: 200,000
New burn tommorow

Ok now it is getting interesting, we can see 5-10 satoshi PND in notime with this pace, keep buying PND:

https://yobit.net/en/trade/PND/BTC

Topknotbam

legendary

Activity: 1938

Merit: 1014

Quote from: Bitdonator on January 17, 2016, 10:16:11 AM

Vote for PND to be added on C-Cex:
https://c-cex.com/?id=vote&coin=pnd

Just submit my vote

It has 24 votes Pandacoin

if any one is interested in the development of coins vote, it would be a good progression.

PandaCoinTeam

member

Activity: 84

Merit: 10

Another 100,000 PND burned a few minutes ago:
https://bchain.info/PND/addr/P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8

Total burned Pandacoins: 200,000
New burn tommorow

KJMZNine

sr. member

Activity: 504

Merit: 250

Vote for Pandacoin https://safecex.com/coin/add?q=PND

Bitdonator

legendary

Activity: 1223

Merit: 1002

Vote for PND to be added on C-Cex:
https://c-cex.com/?id=vote&coin=pnd

Just submit my vote

Topknotbam

legendary

Activity: 1938

Merit: 1014

Quote from: PandaCoinTeam on January 16, 2016, 12:24:49 PM

And finnaly, after two days delay, we burn first 100,000 Pandacoins

https://bchain.info/PND/addr/P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8

Burning address: P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8
Address hash: 0000000000000000000000000000000000000000
Amount burned: 100,000 PND
Transaction ID: 86be244904be68c9e5638894928559b1b066a87001e4d79f2e10579203fcfe03

Address generated by:
http://earlz.net/view/2014/10/22/0340/provably-spendable-altcoin-burn-addresses

We will continue to burn 100,000 PND every day, for 10 days period, or longer

Thank you grant the destruction of PandaCoin.
I hope it will give impetus to increased demand for the coin.

edmundduke

legendary

Activity: 1624

Merit: 1007

Quote from: PandaCoinTeam on January 16, 2016, 12:24:49 PM

And finnaly, after two days delay, we burn first 100,000 Pandacoins

https://bchain.info/PND/addr/P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8

Burning address: P8bB9yPr3vVByqfmM5KXftyGckAtAdu6f8
Address hash: 0000000000000000000000000000000000000000
Amount burned: 100,000 PND
Transaction ID: 86be244904be68c9e5638894928559b1b066a87001e4d79f2e10579203fcfe03

Address generated by:
http://earlz.net/view/2014/10/22/0340/provably-spendable-altcoin-burn-addresses

We will continue to burn 100,000 PND every day, for 10 days period, or longer

Thank you for posting this. It will help to reduce the supply a bit and shows that the burn addresses really exist. It is still just a small step but a necessary one. Market has also been silent now but it is expected as BTC is taking most of the volume with its volatility. Good time for trading.

Topic: ★★★ PandaCoin [PND] ★★★ New devs, old community ★ 100,000 PND burned every day - page 12. (Read 42781 times)