Re: [ANN] [Phantomx] coin -> online currency [PNX] | Pow/PoS X11 Masternode
I quote myself, cause I still haven't got any answer. I am mining PNX, I like the project, so it is not about FUD, or anything. But I would like to have an explanation.
There is no mechanism in this blockchain to burn/delete/destroy coins. So the simple solution is to send coins to some account with no private key, so coins will stay there forever. Of course, there is no 100% guarantee that no one holds this private key. However community will observe this account and trust will be help until those coins stay untouched.What about those 6millions lock premine ? Which is more than the actual supply !!!
If they really are burned / unspendable, why have a premine in the first place ? It make no sense. If you just want a locked account to burn coin, you don't need to have 6 million coins inside.
Unless they aren't that unspendable after all. So my question again, what are those premine coins for ?
If they really are burned / unspendable, why have a premine in the first place ? It make no sense. If you just want a locked account to burn coin, you don't need to have 6 million coins inside.
Unless they aren't that unspendable after all. So my question again, what are those premine coins for ?
Thanks for your answer. The idea is interesting, to be able to delete coin. I am sure many would like others to burn their coin in order to see the price increase !
But WHY the need for 6 millions locked coins, if they really can't be used ?
There is a premine, with some justification for it, ok.
There is no premine, ok great.
There is a premine that can't be used
So why the premine ? Trust is much harder, and you loose all the "ethic" side that comes with non-premine coins. Unless there is a private key after all. If the teams comes here, that would be nice to hear a bit more about that, because I am sure that will block people from investing in PNX.