Quote from: ca333 on March 18, 2015, 08:18:35 PM

Quote from: HalFinneysBrain on March 18, 2015, 07:48:06 PM

Wow this is all incredibly good news. Thank you and welcome to our new developers!

I have an idea regarding the Qora services that I think could be a big deal for Qora's future.

In some other coins, there is the concept of having the blockchain be profitable. For example, in Ripple, Bitshares, and NXT (3 of the top 10 coins), there are ways in which the currency is burned forever when the services of the blockchain are used. (There are also ways to pay dividends or yield on assets within the system, as another way that profitable enterprises can run in the blockchains.

My idea for QORA is: what if some percentage of the QORA which was spent on these services that we develop was burned forever, thus reducing the QORA supply permanently?

Even if the burned amounts are very small, this could generate a lot of excitement for the coin. This is the entire value proposition behind XRP (the ripple coin), as small amounts of XRP are burned whenever ripple is used. The idea of a deflationary, profitable coin is something that gets a lot of people very excited, and should gather us more support for QORA.

How I imagine this would work is:
There is a community standard that 10% (or some amount) of all payments for the QORA services are permanently burned.

This percentage could be configurable such that the person running the service could set the burn rate (higher burn rates would be more attractive to the QORA community, but if they person needed to burn 0% thats fine, as long as people support them). Alternately, it could be a fixed amount like 10%.

Service providers could either slightly raise their price, or just accept getting slightly less QORA, knowing that the process was very good for QORA itself and was increasing the value of their coins.

What we would need:
* A way for QORA to be burned permanently. Does this exist in the code?
* Code for service providers to set the burn rate of their service.
* Community agreement that this is a good idea, and agreement on what the standard burn rate is, or whether it is up to the service provider. (We could all vote on this in the voting system).

Do you all like this idea? Especially devs working on services, are you opposed to this, or do you like it? We definitely do not want to implement something liek this if it would alienate our developers.

If this is implemented, it could be a powerful idea for us to market to the crypto community to gain more QORA supporters.

yes is simple. only add unspendable pubKey linked to new sendbutton [BURN] and send tx to unspendable key. so its burned forever.
i also think this is good idea! it will minimize cap and rise value.

Sorry, I don't agree! I don't see what can be good to burn coins! Maybe I don't understand well...
But many coins will be lost on other ways - for example in lost wallets...
I love that coins are NOT burned, but go as fee from one wallet to another!