Burn all the coins!

I strongly suggest that Bitcoin Gold burn the rest of the coins in production.

When people hear the word ‘Bitcoin Gold’, they should automatically think that BTG is more rare than Bitcoin (hence the Gold value)… The only way to do this is to have less of a supply than the original. I would like to propose we burn all the coins that have not yet been mined.

Not only will this make BTG more rare and thus more valuable… This will give the crypto community a chance to see what Bitcoin will be like once the supply runs out. i.e. giving miners compensation thru transaction fees, instead of giving them new coins.

This will also create hype within the crypto space, because Bitcoin Gold, should be rare and we are attempting something has not been done yet with Bitcoin.


I appreciate the creative thinking. Pushing an idea to its limits to explore boundary conditions is often a useful thought exercise!

That being said, I think BTG is too new for that sort of radical experiment. The design of Bitcoin is for miners to be rewarded by large rewards in the beginning which diminish over time, with fees gradually taking over once the blocks are substantially full. So the system starts with nothing but block rewards and virtually no fees, gradually changes, and ends up with no block rewards and virtually all fees. Bitcoin Gold shares Bitcoin’s design in this regard, but being a new coin, has set the clock back in terms of the stage of progression along that timeline.

BTG, though it contains all of BTC’s pre-fork history, is a new currency and currently has plenty of space in the blocks, and so has tiny fees - no party would pay for priority in a queue when there is no queue! The tiny fees should, however, encourage adoption as a transactional currency. Low fees can’t motivate miners, so we need block rewards, but low fees can motivate those who need to transfer money!

I think that BTG is not the right coin at the right stage for the experiment you propose.

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I think this is a dangerous experiment… eventually the value of a coin will be based on the utility and not rarity … this has the complement the system to achieve a collective growth and not create hype for price inflation… we know what goes up fast comes crashing… if btg is able to add value to the system the price is bound to grow…

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