When BARR accepts an altcoin for burn redemption, we’re essentially offering to “buy out” the coin at a fixed rate. It works the same as moving an altcoin to a new blockchain – but we’re moving several altcoins to a new blockchain, combining them all into one coin.
As BARR absorbs more coins and more users, it will grow stronger as the crowd of altcoins grows weaker. Multi-Proof-of-Burn means the higher the price of BARR, the more altcoins we can afford to buy out.
Who benefits from BARR? Holders of good coins, holders of bad coins, holders of struggling coins, and holders of BARR.
– Holders of good coins benefit when bad coins are destroyed, leaving more money on the market available for the good coins.
– Holders of bad coins benefit when they burn their coins in exchange for BARR, turning their liabilities into liquidity.
– Holders of BARR benefit when the market bands together against the never-ending plague of altcoins; buying BARR is a Vote of No Confidence in Altcoin Business As Usual.
– If BARR offers a buyout of a struggling altcoin and the altcoin’s supply is only partially destroyed, then that coin and BARR can both benefit. BARR can gain users and adopt the value of the absorbed coins which were burned, while the altcoin can continue with a higher value – no longer struggling, due to its reduced supply. In this case BARR has still served its purpose, transforming a bad coin into a good coin.
BARR puts an end to pumping and dumping, because coins that no longer exist can never be dumped again.
If you think there are too many altcoins on the market, buy BARR and help destroy those coins.
The current altcoin market is a place where coins are released, sold, and then continue to lose value for the remainder of their lifespan. There are many altcoins which have never been profitable for anyone who has ever bought them. Even when investors are willing to sell for a heavy loss, there often aren’t enough buy orders at any price. Those left holding the bag have no option but to find someone else to hold the bag – someone else who will also lose money.
But now there is another option: BARR. Altcoin markets will never be the same.
Coins sent to these addresses are unspendable,
which can be verified using the ‘getrawtransaction’ command with any txid sent to them.
The balance of each address shows how many coins were burned.
Fractalcoin: Burn Address FVAiSujNZVgYSc27t6zUTWoKfAGxc8CEW5
Keycoin: Burn Address K7D9JtQxx7rRoWGu6szLpeFQKhbSzyUbC8
Sapience AIFX: Burn Address AFmseVrdL9f9oyCzZefL9tG6UbvhPbdYzM
Lyrabar: Burn Address LKDxGDJq5fF4FohAB8zJH24mDDNHDNtqsE
ACP: Burn Address 1111111111111111111114oLvT2
Unitus: Burn Address UMz1xPGbHGWacUUtfXefyXWVoJX9Q2kNtF
Bunnycoin: Burn Address BTngbpkVTh3nGGdFdufHcG5TN7hXYuX31z
Bowscoin: Burn Address B4T5ciTCkWauSqVAcVKy88ofjcSasUkSYU
Chaincoin: Burn Address CGTta3M4t3yXu8uRgkKvaWd2d8DQvDPnpL
BARR: Burn Address NXT-HD9P-ZTPP-EHFJ-59VUC