Quote from: statdude on April 04, 2017, 08:06:13 PM

Quote from: metacoin on April 04, 2017, 03:46:14 PM

Ah, by "burning" I was referring to specifically the act of spending coins to an unreachable address, therefore removing them from circulation. There are a number of coins that use this type of coin burning for various purposes.

Paying fees for blockchain messages has always been part of Florincoin. There is a fee-per-byte calculation (derived from Bitcoin's fee calculation). Transactions with filled tx-comment fields are mostly >700 bytes which results in a miner's fee.

Yes, but this only benefits miners, who don't care about Flo or it's value. They will just dump any Flo they get back on the market. So, use of Alexandria would ironically just result in more sell pressure for Flo. I have seen this mechanism work out poorly for the value / price of other coins long term.

Are there any mechanisms by which Flo would increase in value? Could those fees go to burning those instead? Not sure why you would pay those to miners instead of Flo holders (by burning or some other mechanism). If you did this it would increase the value of Flo tremendously from at least a theoretical perspective.

Just remove them from supply by having them all go to a burn address is the easy answer here.

Appreciate the discussion.

I mine Florincoin and I hold them. I do it because for the blockchain to move, someone have to mine. I've seen some pumps, including the one today - poloniex price went up to 1555 satoshis - and so far I've never dumped anything.

I'm not preparing to dump it even if the price goes above 1 BTC. And even if I did, I would still be mining, just because I have scrypt ASICs and the network needs mining to continue serving say alexandria videos.

One thing that would make sense for Florincoin would be the farming "proof of resource" concept from SIA, STORJ, MAID, etc. At least it would make sense for alexandria to use yet another blockchain for storage, if it doesn't get implemented with florin itself. This would give non miners, the hard drive collectors (me included) another way to help the network.

desci

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