It is true that BOOM token has advantages of self-burning crypto that other coins may not have. But if its coins burnt just a little,
I think it has little effect on the BOOM token price. Therefore, we can see the demand for BOOM tokens The low one. In fact, the
performance of BOOM tokens this year is very poor when compared to DeFi tokens which are more profitable.
Topic: BOOM - First Self-Burning Cryptocurrency Based on Smart Contract - page 16. (Read 3698 times)
August 13, 2020, 07:59:02 PM
August 13, 2020, 07:15:42 PM
If you want to get benefit from deflationary tokens buy and HODL them for long term.
There is no guarantee that these self burning coins will succeed in the long run. Usually most of the investors are looking at these market to invest and make money in the short run rather than holding for the long term unless it is a top coin in the market.I just looked at the ROI and it is also burning down at negative at -88.90% and it is not promising.
August 13, 2020, 02:42:56 PM
Very rear understand the real purpose of deflationary tokens. People think that they will be totally burned down the next morning. In reality they are very different. Deflationary tokens are rolled out to create scarcity with time which will in turn result in price hype. If you want to get benefit from deflationary tokens buy and HODL them for long term.
August 10, 2020, 02:17:43 PM
Boom as written in subject of this post is "First Self-Burning Cryptocurrency Based on Smart Contract", so we have reduction of coins with time. This model hasn't been tested yet and I love to see outcome of this model. If BOOM is able to make any significant impact then already existing deflationary coins will also be benefited. All eyes are on BOOM.
August 08, 2020, 02:01:44 PM
There are few deflationary coins prior to BOOM that have performed very well. BOOM is yet to take off and is waiting for his turn. Rule of crypto is that those who buy at DIP and HODL are the winners.
August 06, 2020, 03:57:31 PM
There are too many coins of different categories and choosing the one for investment is difficult. BOOM aka the deflationary is a coin for investment for long term. Buy now and HODL. There supply is gradually decreasing and time will come when we have there demand surpassing the one is existing.
August 04, 2020, 12:28:20 PM
The concept of deflationary token is new and that's why people are asking too many questions about it and that's natural. It will be matter of time, we will see in few days to come how BOOM and other deflationary tokens are behaving. So far BOOM is doing good on exchange.
August 02, 2020, 01:14:05 PM
They have only one unique feature which is decrease in number of tokens. They are ideal coins for short term trading or holding. I think buying these coins at current price wont have much risk and its good to grab BOOM at current price.
Current market is not good for alt coins and we have to wait for arrival of alt coin seasons. Those who can buy and HODL altcoins at current price will be able to gain maximum profit during alt coin season. So its your choice to either buy or curse altcoins right now.
With every transaction 1% coins are burning. It will be interesting to see when we have 50% of BOOM tokens burned and we are left with 50%, it will be just like bitcoin halving but in reverse direction. Will defiantly be exiting.
They do have an Airdrop recently and the coin is already on so many exchange. Is there anyone who has tried that worthy Airdrop or we all just ignored this like we do with rest of worthy coins.
If you check details of BOOM on site https://www.boomtoken.io/ then you can see that not many coins are getting burned. Only 1% are burned with each transaction, so I think it will take years before we see depletion in amount of BOOM.
Deflationary coins like BOOM are bringing the concept of decrease in supply which is very much opposite to BTC concept of controlled supply. The controlled supply was a big hit and hopes are that deflation concept will also be a success.
These coins have started a big debate among crypto enthusiastic. The beauty of crypto industry is that it never stops amusing us from new ideas and concepts. BOOM is just another just concept, that has started debate of whether the deflation concept is more powerful then controlled inflation.
In a volatile crypto environment everything is possible. See the example of Bitcoin SV from nowhere it emerged and now is in top ten cryptos. Likewise BOOM can explode at any time, do proper research before making any decision. It may take you to the moon.
There is nothing certain in the crypto market and I am very sure that BOOM has the potential to go up one day. All we need is patience, so KEEP CALM AND BUY BOOM.
BOOM statistics are volatile and I like that. On one day its has daily volume of 10K USD while on other day it has volume of 20K USD. It surely is trying to break the resistance.
In a volatile crypto environment everything is possible. See the example of Bitcoin SV from nowhere it emerged and now is in top ten cryptos. Likewise BOOM can explode at any time, do proper research before making any decision. It may take you to the moon.
I think the concerns of investors regarding this project are mostly because it's new and hasn't been tested yet. I like the idea as its very different from what other coins are offering right now. Even BTC will stop generating new coins.
Doesn't seem like that of a great idea to be honest. It has been tested before with a coin that had its own blockchain. Checkout slimcoin.
The concept is surely interesting but ultimately having a token that thrives on the destruction of currency isn't that great of an idea if you ever intend your coin to receive actual usage and become a medium of exchange.
A coin that burns itself is not retaining the basic features of money. As outlined below:
Smart contract or not, a self-burning cryptocurrency would be worse off than alternatives, and that's because of burning. IMO its more of an anti-feature other than a feature.
The concept is surely interesting but ultimately having a token that thrives on the destruction of currency isn't that great of an idea if you ever intend your coin to receive actual usage and become a medium of exchange.
A coin that burns itself is not retaining the basic features of money. As outlined below:
Smart contract or not, a self-burning cryptocurrency would be worse off than alternatives, and that's because of burning. IMO its more of an anti-feature other than a feature.
This is not new way back on year 2017, one project came up with this idea called equal you can find it here, https://etherscan.io/token/0x47dd62d4d075dead71d0e00299fc56a2d747bebb but I guess they have swapped over to binance chain and after they launch their own wallet I never heard updates from them. Boom is obviously have better volume but the question is apart from this self burning feature they have nothing to offer, no better purpose.
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