Topic: Coin Burn? (Read 679 times)
Yes, it means that some of the total supply will be burnt forever and no other coins/tokens will be minted instead. The burn will happen through a smart contract deploying.
Everyone will answer about the price and it is not wrong, several cases show that every coin burned by the developer, will lead to an increase in price. A concrete example of a coin burning policy is BNB, where the price of BNB is rising slowly and many people are starting to speculate that BNB is the next ETH.
Coinburn is an activity of sending coins to a wallet whose private key is not owned by anyone. That way, the coins will become unusable and become trash. Aim to reduce the total supply and keep the number of coins circulating in the public under control.
When the demand for the coin is constant or tends to go up, the increase in price is inevitable.
Coinburn is an activity of sending coins to a wallet whose private key is not owned by anyone. That way, the coins will become unusable and become trash. Aim to reduce the total supply and keep the number of coins circulating in the public under control.
When the demand for the coin is constant or tends to go up, the increase in price is inevitable.
Well, of course everyone will answer that because when the supply of the coin has been reduced, then the price of the coin will naturally increase. BNB is the most popular coin with burn, although there are other coins which has burn mechanism to reward the holders.
To increase the price of the coin, there are 2 ways : Increase the demands, or reduce the supply which means burn.
Hi,
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
A Coin Burn is an event where a cryptocurrency permanently removes a specific number of its coins from the circulating supply (either manually or by design). This process results in a reduced total supply for a certain cryptocurrency, which inherently increases its value and scarcity. What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
Hi,
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
A coin burn is a really interesting method to decrease the supply of a coin. I think that projects that have a coin burn mechanism as part of their tokenomics and business model are particularly interesting for investors because the supply will decrease over time and therefore even with a consistent demand the price should move up at least in theory.
The Exchange KuCoin does this too for example. They take a part of the trading fees that they collected during a certain period and use that to buy KuCoin Shares from the Market. Those Tokens are then sent to a burn-address which is an address that no one has the private keys of, which means no one can access that wallet and those coins are basically gone then.
legendary
Activity: 2716
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
Everyone will answer about the price and it is not wrong, several cases show that every coin burned by the developer, will lead to an increase in price. A concrete example of a coin burning policy is BNB, where the price of BNB is rising slowly and many people are starting to speculate that BNB is the next ETH.
Coinburn is an activity of sending coins to a wallet whose private key is not owned by anyone. That way, the coins will become unusable and become trash. Aim to reduce the total supply and keep the number of coins circulating in the public under control.
When the demand for the coin is constant or tends to go up, the increase in price is inevitable.
Coinburn is an activity of sending coins to a wallet whose private key is not owned by anyone. That way, the coins will become unusable and become trash. Aim to reduce the total supply and keep the number of coins circulating in the public under control.
When the demand for the coin is constant or tends to go up, the increase in price is inevitable.
Token burn is action of removing tokens from cycle . its have good impact on price if token. When unnecessary token are removed then supply decreases and very high chances that it price will go high in several days.
That's the great thing about BNB. They have quarterly burning until it they reduced their supply into half. I think people will find token that have coin burning rather than none since the price will surely increase along with the major upgrades that they will develop in the future. This is the effective method to increase the price of the token.
I like project that have small supply and with token burning but most of all the project goals must always there.
logically it will be like that but we also have to see from the type of coin, not all coins that burn the price will increase because it is also seen from the quality of the coin whether it has a good vision and mission for the future.
Goods Burt is one of the factors that cause variation in business. It reduce the quantity which cause scarcity and increase in demand. Secondly it where there is scarcity of goods the increase. The same thing as crypto market.
I don't like coins that has no fixed supply that's why I only bought coins with fixed or that do coin burning. Certainly it is an advantage hold a coin that do coin burn like Binance coin, crypterium etc. The supply will decrease and the demand will increase.
Coins burning is a really cool deflation mechanism, which let issuer to decrease coins quantity and create deficit to make price higher. I really like this mechanism, it really helps many cryptocurrencies to control the supply
Hi,
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
You are right, coin burning means the total supply of coins will be decreased, but coin burning doesn't really mean it will push the price up, I have seen so many coins that get burned and still end up dumping, its not a matter of burning if the coin doesn't have a good potential it will still dump after the burning, coin burning will always favour only coins with good potential not just any random shitcoin. What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
Hi,
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
Some time ago there were some coins that began burning their supply in some kind of predictable fashion, as we know the law of supply and demand reigns supreme and if the supply goes down then in theory the price of a coin should go up.What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
However while the developers can somewhat control one side of this law by decreasing the supply they have no control at all about the demand, if the demand for a coin is weak even if they burned 90% of the supply the price will not change much as the demand is still not there, as such do not waste your time with coins like these if that is all what they have going on for them.
Hi,
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
Quite right. The number of all coins decreases and most often the price rises. 6 days ago there was a tweet that Binance will burn 40% of all coins they collected on ICO for their team in 2017
the main purpose of burning coins is to experience an increase in price, but even though the coin has been burned it will not immediately increase in a short and fast time, the coin will still run and experience periodic increases based on the trading volume on the market
Coin burning does not mean an increase in price. For a coin to have an increase in price, there should be demand for it. Coin burning is just a scheme of making people think that it will go up in price due to the idea of scarcity but little that we know, there had been a lot of project that burn coins and yet they are all worthless. The reason why Binance increase in price is not because they burn coin but because they deliver.
Hi,
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
the main purpose of burning coins is to experience an increase in price, but even though the coin has been burned it will not immediately increase in a short and fast time, the coin will still run and experience periodic increases based on the trading volume on the market What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
yes that's the concept. burning coins is intended to reduce the supply of coins so that coins in the leg will become very rare and automatically when the coins are scarce it will make the price even more expensive so that it will be profitable for all parties who are denied the burned coins.
In recent instances such as BNB, about $ 595 of coins were burned this month. take a look at the prospect of rising prices. the more it grows over time so that all those involved in BNB will benefit equally.
That's the great thing about BNB. They have quarterly burning until it they reduced their supply into half. I think people will find token that have coin burning rather than none since the price will surely increase along with the major upgrades that they will develop in the future. This is the effective method to increase the price of the token.In recent instances such as BNB, about $ 595 of coins were burned this month. take a look at the prospect of rising prices. the more it grows over time so that all those involved in BNB will benefit equally.
I like project that have small supply and with token burning but most of all the project goals must always there.
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
I have not heard anything in the name of tronix but the abbreviation TRX is well known for TRON (I agree these days same short forms are being used on different platforms so getting confused in most common because of such repeating names). Let me check on coinmarketcap about tronix so that I may learn something new today.I read this could be happening with TRX (Tronix)
Let me explain about burning process: it is kind of losing key for your coins so that you will not able to make use of that coins. This is being done to have impact on circulating supply which will usually lead to value appreciations. I guess BNB platform is having in-built functionality for burning process whereas I am not seeing such things for ERC20 tokens.
yes that's the concept. burning coins is intended to reduce the supply of coins so that coins in the leg will become very rare and automatically when the coins are scarce it will make the price even more expensive so that it will be profitable for all parties who are denied the burned coins.
In recent instances such as BNB, about $ 595 of coins were burned this month. take a look at the prospect of rising prices. the more it grows over time so that all those involved in BNB will benefit equally.
In recent instances such as BNB, about $ 595 of coins were burned this month. take a look at the prospect of rising prices. the more it grows over time so that all those involved in BNB will benefit equally.
I am not the fan of coin burn, because coin burn is not the way coin will goes up in price. The only strong pusher for the coin is it' project. If the project being use by many people and can be adopted by our community. The price will goes up without burning scheme. Burn only can male coin up for a while without good development and adoption.
Same here, I think that burning coins doesn't bring any innovation to the table. It is just a plain scheme that has a psychological effect on people making them think that the coin is getting scarce.
In my opinion, burning coins can help stabilize the coin value and curb potential price inflation. Stability gives investors a greater incentive to hold coins and keeps prices at more profitable levels. That way the network uptime and bandwidth remain healthy.
Project delivery, constant effort, and wise decision of developers can help stabilize the coin value. Even with coin burning if they don't deliver the roadmap that they promise, the coins will surely won't get any interest from the investors.
Hi,
What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
the function of burning coins besides breaking down the total supply of coins can also be a signal for investors to immediately join in there and see the price will increase. but these increases cannot be instantaneous through various stages in the market for prices to actually increase significantly.What happens with coin burning? Im guessing it will decrease the total available but not sure
I read this could be happening with TRX (Tronix)
Could this push its value up?
Jump to: