Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Counterparty Protocol and Client (built on Bitcoin) - Official Thread
by
Peter Todd
on 06/01/2014, 20:01:09 UTC
We may need to switch to destroying coins by sending them to an unspendable address.

Ugh.  No.  That will simply bloat one of the network's key resources for all time.

See announce/commit sacrifices and other tools.

Frankly the Counterparty system is better off sticking with the unspendable address method. Unlike OP_RETURN it's standard now, it doesn't encourage centralization like announce-commit sacrifice-to-fees does, it keeps an even playing field and doesn't give discounts to big pools, it's way more convenient than sacrifice-to-fees, and finally it is good marketing.

You can complain all they want, but you have to accept that in a decentralized system full of anonymous participants asking people to act against their own interests for some vague greater good isn't going to be very successful.