Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official
by
ddink7
on 20/02/2014, 17:01:43 UTC
... I wonder if it is technically realistic?  How would this solution actually be implemented?  

Hard code into the next version, recognizing an address that PhantomPhreak controls as having a balance of 35,000 XCP on the first block. Then, PhantomPhreak sends this to busoni.  I would think it could be a 1 liner, not too hard?

I would hope that, if this is done, we can also set a date for when this type of fix is permanently "off limits". Maybe 6-12 months from now. In other words, a date where we all agree it is no longer Alpha software, but Beta.

And secondly, raise a pool of funds (controlled by PhantomPhreak?) to have a security audit done by an outside party, before we declare the transition from Alpha to Beta.  I would donate to this and I think many others would too.

That's completely defeating the purpose of PoB.


No it doesn't. Burning again doesn't defeat the purpose of burning, it just reestablishes value.

 

Burning again undermines the entire protocol, because it creates the possibility of unlimited inflation. We could just reinitiate a burn whenever people feel like it.