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Offline Riverhead

DNS Proof-of-Burn to Help Those that Lost
« on: October 22, 2014, 10:56:37 PM »


I moved my DNS stake to another account pretty much immediately and left it there. This means that I qualify for I3's extra BTS offer for those that sold on the news of his post but I am not really the target audience. I feel I am certainly not the only one in that position.

The Plan:

Work with BM to setup a Proof of Burn for anyone that sends their extra BTS distribution to an account he owns and will destroy. Since we can't know who deserves the extra DNS and who will just luck into it what we can do is lower the supply by folks willing to donate.

If this thread generates enough interest we can probably make it happen. If not nothing lost.

I3 is throwing in to help those that got burned. Let's see what the community can do.

Offline Ander

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Re: DNS Proof-of-Burn to Help Those that Lost
« Reply #1 on: October 22, 2014, 11:21:38 PM »

I moved my DNS stake to another account pretty much immediately and left it there. This means that I qualify for I3's extra BTS offer for those that sold on the news of his post but I am not really the target audience. I feel I am certainly not the only one in that position.


I think that actually, almost no one who is getting the extra BTS is the target audience.


The people who got screwed over (bought DNS at higher prices), almost all had their DNS on exchanges.


This 'fix' is actually just giving out DNS to random people who werent harmed, and pretending that it is going to the people who got burned.


The people who actually need to be given the extra stake are those with DNS on the exchanges. 
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Offline tonyk

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Re: DNS Proof-of-Burn to Help Those that Lost
« Reply #2 on: October 22, 2014, 11:22:34 PM »
I am in that position (i.e expecting funds that I do not really deserve due to this program).

I am fine with either of the first 2 posters' suggestions above.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Riverhead

Re: DNS Proof-of-Burn to Help Those that Lost
« Reply #3 on: October 22, 2014, 11:25:38 PM »
I'm good with giving it back to I3 for Dev. More productive than a burn.

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Offline Ander

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Re: DNS Proof-of-Burn to Help Those that Lost
« Reply #4 on: October 22, 2014, 11:28:21 PM »
Perhaps we can create a donation system, where people who got burned post screenshots of their exchange account transactions (on btc38, bter, etc), showing that they had DNS prior to the announcement.

And then those who are getting extra DNS that they feel they ddidnt deserve can donate some of it to those who got hurt?


(I'm neither of these, I didnt lose anything and have no DNS, just making a suggestion).
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Offline infovortice2013

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Re: DNS Proof-of-Burn to Help Those that Lost
« Reply #5 on: October 22, 2014, 11:31:30 PM »
i make an effort and buy in bter 29k dns starting time at 400, ,,, in few time will be no valuables for new bts going to loose all inversion?

i have some from snapshot i not claimed already i read this ones automatly will be changed
« Last Edit: October 22, 2014, 11:33:09 PM by infovortice2013 »
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Offline toast

Re: DNS Proof-of-Burn to Help Those that Lost
« Reply #6 on: October 22, 2014, 11:38:09 PM »
I agree we should be collecting donations to make those with DNS on exchanges for bonus snapshot whole - not all DNS holders randomly.

So someone needs to be able to show a trx history on an exchange with deposits/balance held right when BM made his post.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline onceuponatime

Re: DNS Proof-of-Burn to Help Those that Lost
« Reply #7 on: October 22, 2014, 11:42:15 PM »
I am in that position (i.e expecting funds that I do not really deserve due to this program).

I am fine with either of the first 2 posters' suggestions above.

Same here.

Offline mint chocolate chip

Re: DNS Proof-of-Burn to Help Those that Lost
« Reply #8 on: October 22, 2014, 11:46:27 PM »
This is not easy to post, it shows how much of a donkey trader I am...

DNS bought 1.007 btc worth and sold DNS for .5542 worth = .4528 Loss




Offline xeroc

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Re: DNS Proof-of-Burn to Help Those that Lost
« Reply #9 on: October 23, 2014, 07:14:52 AM »
I already committed myself to something like this:
https://bitsharestalk.org/index.php?topic=10381.msg136382#msg136382

I'm in!
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