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Showing 5 of 5 results by Shalecoin
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Board Bitcoin Discussion
Re: Bitcoin as "shalecoin"
by
Shalecoin
on 06/05/2019, 14:20:02 UTC
Through transactions within that timeframe holders indicate that their coins are not shalecoins. The owners of these special computers will only hash privatekeys of shalecoins (coins with no holder) and bring them back to the blockchain as usable coins. They will transfer them to their own addresses. Without that shalecoin declaration they could not know which coins have holders and which not.

Fairplay for both sides (holders of coins and owners of special computers)
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Topic
Board Bitcoin Discussion
Re: Bitcoin as "shalecoin"
by
Shalecoin
on 04/05/2019, 15:01:55 UTC
The idea behind declaring coins as "shalecoin" is to indicate whether an address has a holder or not and therefore to have an open and clean blockchain. (Concerning longterm UTXO)

- As mentioned before -
Definition of "shalecoin":
Coins with no access to the address. (Nobody has the privatekey)
If that address is a coinbase address: 1 year after mining
Other addresses: 10 years after last output transaction

Longterm holders of coins should transfer their coins to a new address within 10 years, so they wouldn't become shalecoins. All other coins with no access to the address can't be transacted to a new address and will become shalecoins after 10 years / or after 1 year if it's a coinbase address. Owners of possible computers with the ability to "hash" the privatekey would use these computers only for shalecoins. (Coins with no holder)
Post
Topic
Board Bitcoin Discussion
Re: Bitcoin as "shalecoin"
by
Shalecoin
on 04/05/2019, 14:53:18 UTC
Coins with no access to the address. Nobody has the privatekey.

Quote from: tacotime on April 14, 2013, 12:31:47 AM
I think the likeliest scenario is that hundreds of people downloaded and ran the client then, got a bunch of blocks that were at the time useless because they were valueless, then deleted their client.
https://bitcointalk.org/index.php?topic=175996.msg1834484#msg1834484
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Topic
Board Bitcoin Discussion
Re: Bitcoin as "shalecoin"
by
Shalecoin
on 21/04/2019, 16:23:13 UTC
"Don't send to 1BitcoinEaterAddressDontSendf59kuE. These coins are lost."

One day computers will be able to hash the privatekey for this address or for addresses with no access to it. Therefore coins should be removed after mining from the coinbase address to show that someone has access to it. Otherwise they are shalecoins waiting to be "remined" or "fracked" one day.
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Topic
Board Bitcoin Discussion
Topic OP
Bitcoin as "shalecoin"
by
Shalecoin
on 21/04/2019, 16:13:58 UTC
Definition of "shalecoin":

Mined coins with no access to the address. (Nobody has the privatekey)

If that address is a coinbase address: 1 year after mining
Other addresses: 10 years after last output transaction (If there is no output transaction then 10 years after first input transaction)