Topic: BOOM - First Self-Burning Cryptocurrency Based on Smart Contract - page 13. (Read 3698 times)
December 18, 2020, 03:52:18 PM
Crypto never stops coming up with innovations and new ideas. Security token, stable coins or deflationary tokens are all part of crypto innovations. We dont know what else is coming in crypto but so far its a journey full of success for all these tokens.
December 15, 2020, 03:30:09 PM
The idea is great, perhaps its one of the important factor of economy i.e. decrease in supply results in increase in price. BOOM need to work a little hard to establish its price first before it supply goes down to significant level.
December 13, 2020, 12:49:51 PM
The reduction in supply always lead to more increase in price, that's the main idea of Burning a token. Also, most projects have different forms of token burning, wherein a purchase in their product leads to token burn, at the long run reducing the supply, in the case of others, the team will set out a time to buy back and burn their token. Nevertheless, what I have come to understand is, without no good use case, without appropriate working product token burning is just waste of time, at least there are many project in that category, that no matter how much of their token the team burn, the price is still struggling.
However, my humble opinion is, the team should put in more effort towards adding value to their products such that, the token burn will lead to more increase in price.
However, my humble opinion is, the team should put in more effort towards adding value to their products such that, the token burn will lead to more increase in price.
Until now there team must have got this message that if they want to get success in the long run then they must introduce some kind of utility to there token. Utility along with deflation will be a great combination.
December 12, 2020, 04:50:00 AM
The reduction in supply always lead to more increase in price, that's the main idea of Burning a token. Also, most projects have different forms of token burning, wherein a purchase in their product leads to token burn, at the long run reducing the supply, in the case of others, the team will set out a time to buy back and burn their token. Nevertheless, what I have come to understand is, without no good use case, without appropriate working product token burning is just waste of time, at least there are many project in that category, that no matter how much of their token the team burn, the price is still struggling.
However, my humble opinion is, the team should put in more effort towards adding value to their products such that, the token burn will lead to more increase in price.
However, my humble opinion is, the team should put in more effort towards adding value to their products such that, the token burn will lead to more increase in price.
December 12, 2020, 03:07:00 AM
The token obviously says it will consume the token, the person who is as yet intrigued ought to partake others should cruise by. Be that as it may, calling it by and large a trick is outlandish thing. The individuals who can purchase and HODL altcoins at momentum cost will have the option to pick up most extreme benefit during alt coin season.
December 10, 2020, 04:26:14 PM
So, one day all the boom will be burned and we will have no Boom? Or am i wrong lol?
December 10, 2020, 03:14:33 PM
One need to be careful while he invest in any new coin. BOOM is doing good on exchanges and listed on many exchanges. So it passes one filter of being a coin for HODLing. After this bullish season is over we may see people coming and investing in this coin.
Having listed on several exchange or does have pairs doesnt signify that theyre already considered good.
Take a look on where this BOOM listed out and the volume of exchanges where its been listed.
MXC.COM 24 hours volume - $6,290
BitMart 24 hours volume- $2,392
CITEX $0.234757
Do these figures are quite appealing? This coin in no doubt will die soon.I have checked out on what this coin is all about.
I do observe that it do really decreases out when people do make out transactions.Basing of on entire supply
then it might take a while for it to be scarce but with this kind of concept then you would really be expecting for
people to hold.
If you look at statistics of BOOM at CMC https://coinmarketcap.com/currencies/boom/ , in last 24 hours BOOM volume was $10,936.95 USD while on previous day it was around 6k USD. These stats are not bad for a coin thats in its early stages of launch. Give boom some time before we make some final conclusion about this coin.
December 09, 2020, 09:06:07 PM
My question is, why using burn concept ? Why not incentivize the network or redistributed it to holder. Burn concept is not always the best way to lift the price up. If tou want to scale up you need a lot of coin. Instead burning it better to incentivize the holder.
December 09, 2020, 06:27:39 PM
One need to be careful while he invest in any new coin. BOOM is doing good on exchanges and listed on many exchanges. So it passes one filter of being a coin for HODLing. After this bullish season is over we may see people coming and investing in this coin.
Having listed on several exchange or does have pairs doesnt signify that theyre already considered good.
Take a look on where this BOOM listed out and the volume of exchanges where its been listed.
MXC.COM 24 hours volume - $6,290
BitMart 24 hours volume- $2,392
CITEX $0.234757
Do these figures are quite appealing? This coin in no doubt will die soon.I have checked out on what this coin is all about.
I do observe that it do really decreases out when people do make out transactions.Basing of on entire supply
then it might take a while for it to be scarce but with this kind of concept then you would really be expecting for
people to hold.
December 09, 2020, 02:59:33 PM
BOOM is a social experiment which aims to explore the market influence of an extremely deflationary cryptocurrency. There are many questions being asked by crypto community about these coins and BOOM team has a very short time to answer these questions.
November 29, 2020, 02:46:23 AM
One need to be careful while he invest in any new coin. BOOM is doing good on exchanges and listed on many exchanges. So it passes one filter of being a coin for HODLing. After this bullish season is over we may see people coming and investing in this coin.
November 28, 2020, 01:09:21 PM
Burning the coins will defiantly reduce the coin in circulation but this will only increase price of BOOM if they were in top 100 coins or in other word the coin has some value otherwise reduce in supply wont be of much use. In a year or two things will be more clear.
November 26, 2020, 01:51:02 PM
BOOM really has a pretty good mechanism but it has a huge weakness that traders / holders have to suffer a disadvantage.
As far as I understand the BOOM mechanism, A transfers 100 BOOM to B and B just receives 99 BOOM, 1 BOOM will be automatically destroyed.
In terms of physical value, B has lost 1 BOOM and if the price of BOOM does not increase, then B is considered to have lost. According to the current BOOM price chart, it is falling down and trading always leads to losses!
That is the reason why BOOM has a good mechanism but certainly cannot attract many investors to them. I think the team should have a marketing campaign and create a strategy to keep prices for BOOM so that the project can be successful.
As far as I understand the BOOM mechanism, A transfers 100 BOOM to B and B just receives 99 BOOM, 1 BOOM will be automatically destroyed.
In terms of physical value, B has lost 1 BOOM and if the price of BOOM does not increase, then B is considered to have lost. According to the current BOOM price chart, it is falling down and trading always leads to losses!
That is the reason why BOOM has a good mechanism but certainly cannot attract many investors to them. I think the team should have a marketing campaign and create a strategy to keep prices for BOOM so that the project can be successful.
Very well explained. B will be in total loss if price does'nt go up. This is what crypto is all about, you have to take risk to get some big hits.
what about A ? A send BOOM to B because A is also a holder of BOOM and if BOOM doesnt increase A will also suffer from loss and its loss can be higher than B because A is a hodler of BOOM but why will the BOOM will decrease when it always burns its supply everytime a transaction was done , i thought token burning can lead ro the increase in the price . what about the fee when we send BOOM , is there a seperate fee from the sender if yes then both the sender and the reciever are going to loose some coin .
the whole concept is to reduce the supply of coins in circulation and someone has to lose in this process either its A or B. But if its a hit project then loses bear by A and B are far less then price gain.
November 25, 2020, 02:13:32 PM
Only burning the token wont make you a successful coin. BOOM need to come up with a strong utility also. Unless I cant buy a cup of coffee with BOOM I wont think of buying this coin. Many like me are waiting to see when BOOM come up with some such use case.
November 24, 2020, 12:05:35 PM
The idea to reduce the supply will only be fruitful in the long run if BOOM has a huge community of investors thats backing the coin. I am interested in seeing the community developed by this project so far.
November 21, 2020, 12:16:34 AM
The concept is very interesting. Its in early stages and we need to see what its team is doing for the enhancement of token. Boom is doing good on exchanges and I am interested in learning what there team is doing. Can admin post something about that.
November 15, 2020, 12:04:19 AM
Coin succeess largely depends on how large its community is. If BOOM wants to make it to mainstream adoption then they should focus on building a community, there daily volume is good and should go up from here on.
November 12, 2020, 02:39:39 PM
BOOM really has a pretty good mechanism but it has a huge weakness that traders / holders have to suffer a disadvantage.
As far as I understand the BOOM mechanism, A transfers 100 BOOM to B and B just receives 99 BOOM, 1 BOOM will be automatically destroyed.
In terms of physical value, B has lost 1 BOOM and if the price of BOOM does not increase, then B is considered to have lost. According to the current BOOM price chart, it is falling down and trading always leads to losses!
That is the reason why BOOM has a good mechanism but certainly cannot attract many investors to them. I think the team should have a marketing campaign and create a strategy to keep prices for BOOM so that the project can be successful.
As far as I understand the BOOM mechanism, A transfers 100 BOOM to B and B just receives 99 BOOM, 1 BOOM will be automatically destroyed.
In terms of physical value, B has lost 1 BOOM and if the price of BOOM does not increase, then B is considered to have lost. According to the current BOOM price chart, it is falling down and trading always leads to losses!
That is the reason why BOOM has a good mechanism but certainly cannot attract many investors to them. I think the team should have a marketing campaign and create a strategy to keep prices for BOOM so that the project can be successful.
Very well explained. B will be in total loss if price does'nt go up. This is what crypto is all about, you have to take risk to get some big hits.
what about A ? A send BOOM to B because A is also a holder of BOOM and if BOOM doesnt increase A will also suffer from loss and its loss can be higher than B because A is a hodler of BOOM but why will the BOOM will decrease when it always burns its supply everytime a transaction was done , i thought token burning can lead ro the increase in the price . what about the fee when we send BOOM , is there a seperate fee from the sender if yes then both the sender and the reciever are going to loose some coin .
If BOOM goes up then both A and B will be at loss and vice versa. There are fair chances that BOOM price will go up with time as supply will decrease and as per supply/demand relation price will go up. But for that BOOM team has to work hard to make it to top 100.
November 10, 2020, 11:38:28 PM
BOOM really has a pretty good mechanism but it has a huge weakness that traders / holders have to suffer a disadvantage.
As far as I understand the BOOM mechanism, A transfers 100 BOOM to B and B just receives 99 BOOM, 1 BOOM will be automatically destroyed.
In terms of physical value, B has lost 1 BOOM and if the price of BOOM does not increase, then B is considered to have lost. According to the current BOOM price chart, it is falling down and trading always leads to losses!
That is the reason why BOOM has a good mechanism but certainly cannot attract many investors to them. I think the team should have a marketing campaign and create a strategy to keep prices for BOOM so that the project can be successful.
As far as I understand the BOOM mechanism, A transfers 100 BOOM to B and B just receives 99 BOOM, 1 BOOM will be automatically destroyed.
In terms of physical value, B has lost 1 BOOM and if the price of BOOM does not increase, then B is considered to have lost. According to the current BOOM price chart, it is falling down and trading always leads to losses!
That is the reason why BOOM has a good mechanism but certainly cannot attract many investors to them. I think the team should have a marketing campaign and create a strategy to keep prices for BOOM so that the project can be successful.
Very well explained. B will be in total loss if price does'nt go up. This is what crypto is all about, you have to take risk to get some big hits.
what about A ? A send BOOM to B because A is also a holder of BOOM and if BOOM doesnt increase A will also suffer from loss and its loss can be higher than B because A is a hodler of BOOM but why will the BOOM will decrease when it always burns its supply everytime a transaction was done , i thought token burning can lead ro the increase in the price . what about the fee when we send BOOM , is there a seperate fee from the sender if yes then both the sender and the reciever are going to loose some coin .
November 10, 2020, 01:12:19 PM
BOOM really has a pretty good mechanism but it has a huge weakness that traders / holders have to suffer a disadvantage.
As far as I understand the BOOM mechanism, A transfers 100 BOOM to B and B just receives 99 BOOM, 1 BOOM will be automatically destroyed.
In terms of physical value, B has lost 1 BOOM and if the price of BOOM does not increase, then B is considered to have lost. According to the current BOOM price chart, it is falling down and trading always leads to losses!
That is the reason why BOOM has a good mechanism but certainly cannot attract many investors to them. I think the team should have a marketing campaign and create a strategy to keep prices for BOOM so that the project can be successful.
As far as I understand the BOOM mechanism, A transfers 100 BOOM to B and B just receives 99 BOOM, 1 BOOM will be automatically destroyed.
In terms of physical value, B has lost 1 BOOM and if the price of BOOM does not increase, then B is considered to have lost. According to the current BOOM price chart, it is falling down and trading always leads to losses!
That is the reason why BOOM has a good mechanism but certainly cannot attract many investors to them. I think the team should have a marketing campaign and create a strategy to keep prices for BOOM so that the project can be successful.
Very well explained. B will be in total loss if price does'nt go up. This is what crypto is all about, you have to take risk to get some big hits.
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