Burning plans | Bitcointalksearch.org

kanayaTabitha

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Quote from: inanilujimi on August 16, 2021, 04:39:36 AM

I choose to buy before the coin is burned. because the hype usually occurs when the altcoin has been burned.
If you buy during the hype, of course you have a big risk of losing.

It could be tricky sometimes, it depends on what coin is going to be burned. Sometimes a coin is just hype that going to be burned, after the burned price crashed and never recover. So it's not about the burn, it's about the purpose of the burning. If they had a logical and great reason of doing that, people will hooked and see that project is valueable and the price must be increase

Aubameyang

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Quote from: AnoniX1 on August 08, 2021, 03:07:32 PM

When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).

Burning coin is very good for the project and i always like to buy coin who has the burning plan in every quarter, most of the project burn their coin in the end of quarter so if you want to get some profit from that, you just need to buy one month before they burn they coin. You can try this method on BNB or ARPA.

matchi2011

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Quote from: Ziskinberg on August 15, 2021, 06:11:04 PM

Quote from: AnoniX1 on August 08, 2021, 03:07:32 PM

When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).

Buring some of their tokens helps to increase the value of their project and having a chance to make a buy before it happens was a good opportunity to take but of course, we can't be sure if they were true into their roadmap, that is the problem. In fact, many cases happen that they will never follow their roadmap but rather have to make another because of some reason( which is literally not acceptable).
That is why it was best not to consider this as the basis for buying unless they have announced on their social media the date of the burning process just like BNB.

It's good if you support the project after doing your research, if the team is really performing and providing all the details about the plan this burning of volumes is good as it can push the value high,

BNB is the good example, the value of this coin is indeed performing well, with the news about burning coins expect that investors and traders ride with it anticipating that value will increase after.

inanilujimi

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I choose to buy before the coin is burned. because the hype usually occurs when the altcoin has been burned.
If you buy during the hype, of course you have a big risk of losing.

Ziskinberg

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Quote from: AnoniX1 on August 08, 2021, 03:07:32 PM

When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).

Buring some of their tokens helps to increase the value of their project and having a chance to make a buy before it happens was a good opportunity to take but of course, we can't be sure if they were true into their roadmap, that is the problem. In fact, many cases happen that they will never follow their roadmap but rather have to make another because of some reason( which is literally not acceptable).
That is why it was best not to consider this as the basis for buying unless they have announced on their social media the date of the burning process just like BNB.

dezoel

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I do agree that there is a good chance we may end up with a good price because of the burns, but at the end of the day those that were burned were at already under the ownership of binance so that means it wasn't on the market anyway and it will not increase the price right now. What people do not understand is that, what these burns do is that it drops the supply level, so when there is a huge supply then the price goes down, you are not going to suddenly see a 2x just because they are burned, you are going to see the impact later on when people are buying more than they are selling on average.

This is why I honestly think that burns are good. However I honestly do not know what happens in the future, are they going to burn everything? I mean they have to stop at some point right? Otherwise they would burn everything which I am sure they won't do that.

irixo10

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Quote from: AnoniX1 on August 08, 2021, 03:07:32 PM

When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).

The essence of burning a coin or token is to reduce the supply which in turn will make it more profitable but it highly depends on the coin or token in question. Before now, most projects always burn their token and it kind of became a thing which is used to drive hype, and although it worked for the meantime but later on it doesn't move investors again because even shitcoins are also burning theirs just to pump price. So nowadays, burning plan doesn't drive price again, it's now seen as a normal project plan, unless it is a coin whose team already have good products and services in place, thus with burning which reduces the supply, it will in turn lead to more value of the project's coin or token.
A good example is the ETH London hard fork, ETH is already a valuable coin, and with the upgrade leading to burning of ETH coin, the price will continue being attractive. Another example is BNB coin, the platform always have a burning plan which was started a long time ago, and it has in a way contributed to the good price of BNB we see today. But you see for most shitcoins, the team only announce burning plan to drive hype, pump the price and possibly dump it on investors.

wxa7115

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Quote from: AnoniX1 on August 08, 2021, 03:07:32 PM

When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).

I was under the impression that only shitcoins did something like burning their supply, after all it is a measure that it is done to artificially raise the price by trying to manipulate one side of the equation of the supply and the demand.

They do not seem to realize that they do not need to do anything remotely like this if they just created some kind of service that people actually wanted to use and they needed their coin for it, so to me this is nothing more but an attempt at manipulating the perception of people and as such you should stay away from such coins.

Lexurdania

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Quote from: perfect999 on August 10, 2021, 11:28:14 PM

Burning is for deceiving and definitely not a progressive related action for a development of a coin/token.

Reducing the supply alone will not guarantee growth of a coin. Swapping/burning are few latest traps, devs have these days to lure naive investors. Never fall for these.

burning that caused nothing actually only fake strategy to drive price up. alot investors didn't understand about it, the real burning in token or coins used in onchain transaction. usually in every transaction made , token will be burned. Dev team usually make it automaticly or calculate in certain periode and take it from total supply. bsc , eth , birb and many other do this mechanism. the most important for new project that offer burning token should focus on product developtment, without it burning only a mirage

bahagia93

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Quote from: killerman2 on August 11, 2021, 02:29:26 AM

It will be nice to buy before the burning and you can see many of the coins that didn't pump after the burning and after the people know that it is going to increase and having much ability to move forward, then only they buy it. So , it would be better to buy before burning.

The problem is not everyone knows that the coin will be burned except two days before the burning is carried out, the coin party has given the news beforehand and it is true that they will do it, because there are also those who only circulate news about it, but whether it is done or not, everyone does too I don't know because there are also those who say they have been burned but the price is still the same as before it was burned.

yhiaali3

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Of course, buying any coin must be before burning and then selling it after burning. Burning the coin periodically leads to an improvement in the price of the coin because it leads to a decrease in the number of the coin and this will lead to a shortage of supply in the market and thus raise the price of the coin, but you must Note that some coins or tokens have a large total supply, so burning sometimes does not have a significant effect until after burning large quantities, so you should first look at the total supply of the coin before buying it.

sapnu

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If we would relate it to the recent burning in Ethereum after the hard fork, I don't think it is something that is legitimate and will make huge progress for the coin in the future. It can be seen easily, although we cannot be certain about it since it just happened days ago. As the supply goes down and the demand rises, the value will surely rise that's why there has been a significant change with Ethereum as the hard fork comes to an end. For other coins, maybe burning is just a false hope but for ETH, I don't think so.

tvplus006

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Quote from: perfect999 on August 10, 2021, 11:28:14 PM

Quote from: Wexnident on August 10, 2021, 08:08:15 PM

It's usually better to buy the coin before the burning since burning is done in the first place to reduce the supply so that the price of the token/coin itself would rise up

This is not the case of shitcoins.

I just wonder why they need to have big supply and then burning it when they one first hand itself, can create a coin/token with less supply?

Burning is for deceiving and definitely not a progressive related action for a development of a coin/token.

Reducing the supply alone will not guarantee growth of a coin. Swapping/burning are few latest traps, devs have these days to lure naive investors. Never fall for these.

You obviously also think that the fork London, which occurred in Ethereum on August 4, is also a deception? One of the innovations of this fork is the burning of part of the commissions in the Ethereum network. Despite the fact that initially the burning of coins was not provided for in the Ethereum technical document, the team decided to burn some of the coins, which should definitely affect the price increase.

killerman2

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It will be nice to buy before the burning and you can see many of the coins that didn't pump after the burning and after the people know that it is going to increase and having much ability to move forward, then only they buy it. So , it would be better to buy before burning.

perfect999

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Quote from: Wexnident on August 10, 2021, 08:08:15 PM

It's usually better to buy the coin before the burning since burning is done in the first place to reduce the supply so that the price of the token/coin itself would rise up

This is not the case of shitcoins.

I just wonder why they need to have big supply and then burning it when they one first hand itself, can create a coin/token with less supply?

Burning is for deceiving and definitely not a progressive related action for a development of a coin/token.

Reducing the supply alone will not guarantee growth of a coin. Swapping/burning are few latest traps, devs have these days to lure naive investors. Never fall for these.

Wexnident

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It's usually better to buy the coin before the burning since burning is done in the first place to reduce the supply so that the price of the token/coin itself would rise up, that or the supply has blown over too much that they needed to reduce it so that they can regain control of the economy of the token. I say usually since it doesn't always apply, it's still an optional kind of thing and you would still need to judge yourself whether it would actually rise up or not. Checking out their white paper and judging whether the project would actually work is still the best decision.

Yatsan

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Burning plans usually came after the live sell or the event where mostly investors and potential buyers are into putting their money into a specific project coin. Mostly this happens when the totality of circulating supply is too high that makes the price low so to be able to somehow make the price high, the supply is being cut through the means of burning to be able to raise the demand with a limited supply that makes the value big. It is mostly stated on the road map of the project as the plan of the team developers.

CryptopreneurBrainboss

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Quote from: Issa56 on August 10, 2021, 04:49:47 PM

If you hear about a burning system of a coin I think is better you buy the coin before the burning talks place because if a coin is been burn it reduce the total supply of the coin which everyone will definitely want to buy which will definitely pump the price of the coin so is definitely always advisable to buy coin before the burn which after burning you will definitely be in good profits.

That's exactly what the project what the community to think which is why they implement this burning mechanism to bring in more speculators which has the sole purpose of wanting to profit from the burning event. Burning of a project tokens doesn't automatically guarantee an increase in price and some projects don't have the momentum to sustain that hypes that comes with burning of tokens.

Which is why the hypes only stays for just days before it dies out. If the project isn't attractive to speculators, no matter the amount of burning the project decide to initiate, it won't attract much investors like the like of other top tokens that has the mechanism already implemented that's because this tokens doesn't have the utility to convince investors to bet on their project instead of the thousands out there.

Johnyz

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Quote from: AnoniX1 on August 08, 2021, 03:07:32 PM

When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).

You can buy before that happen and wait for the price to go up before you sell though there’s no guarantee that the price will start to pump easily but once you gain profit, you can sell it any time. Burning token is one of the strategy to increase the value of that project, so if you see it on their roadmap, that could be a good one.

AliMan

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Quote from: Rrita on August 10, 2021, 12:43:41 PM

Quote from: AnoniX1 on August 08, 2021, 03:07:32 PM

When u hear/read a coin have a burning plan in their roadmap - is it a always buy in before and sell when it happen? ( Excluded shitcoins).

Depends on which coin. If the coin is a top-rated coin according to Coinmarketcap, then it's good to buy before the burn. For the short-term trade, it's a good strategy to make some easy buck. When the CEO of Binance exchange CZ announces any burning date, BNB coin pump hard. It's the same for FTX also. A few months ago NWC team also burned a lot of NWC coins and when the announcement came NWC pumped hard. I also earned a few bucks for the burning news. But dont forget to use stop-loss because some bag holders also dump their bags in this kind of news/announcement.

We should be careful on this kind of situation which tried to feed with our minds, because news regarding burning was not really beneficial. Because if that token or coin reduced supply through burning plans has no good and strong support from holders and traders, we can't expect any positive outcome even though that burns will be successful.
All we need is the reality, in order to make our choosen asset increase at profitable value. One example of that is the reduced supply of ethereum, and I'm also hoping for other platforms to have this kind of strategy.

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