Topic: Coin Burn? - page 3. (Read 671 times)

Yes it is. The total supply are reduced by the project team. It reflect the supply and demand chain and probably be having a considerable effect on price.

TRX is still rising! What's everyone's prediction for the price in coming days/weeks?

Hi guys, in my opinion, I think that every token did not sell out should be burned in order to a good price! So burn token is reasonable!

Projects usually burn their unsold tokens . Some projects are buying back their tokens from profit
and burning them. Doing this to reduce the supply and with less coins the price should rise.

Many exchanges, such as Binance, Kucoin and others practice coin burning. It led to increase value of ramaining coins and exchange rate

I like coins that remove coins from transactions. The price goes up.

You bumped this 6 months old thread, congratulations  .
Burning is the way how to increase the price of the token/coin. It is because you reduce supply but the market cap is same and also a lot of hype comming everytime when some coin announce the burning .

Burning a coin is the transfer of all non-distributive and non-purchased coins to a certain zero purse. This reduces the share of available coins.
This has a positive effect on the coin,

The exchange conducts coin burn every fiscal quarter. Currently, they are ready for the fourth quarter coin burn which involves around $32.7 million BNB.

https://coinpedia.org/information/what-future-of-blockchain/

Well, of course. The fewer coins, the higher their price. Therefore, many coins are burned to make remained  more expensive. So sometimes do with many things in life)

Yes it would push the value up as the available supply decreases.

Here's an excerpt that I have found regarding the fundamentals of coin burn :

Coin burn, otherwise known as proof of burn works in a simple and easily understandable manner. Coin miners send coins to a nonspendable address aka an eater address, effectively "burning" them. Coins cannot be accessed or spent again once they have been burned. Burned coins are recorded on the blockchain, and because of this, there is enough evidence that the coins cannot be utilized again.

The idea behind this whole concept is that coin burn signifies a user's willingness to make losses in the short term while he is expecting more investments in the future.

Users are rewarded over a long time through a mechanism that is put in place for proof of burn. The more coins that a user burns, the bigger the chance that he will have to mine the next block.

Coin burn (proof of burn) can be implemented in different unique ways; For example, the coin burned may be that of the user's native currency or that of an alternative currency. Your stake takes a downward dive over time when you burn coins. The urge to maintain a good odd of being selected for mining the next block is enough motivation to make you burn more coins over time.

Advantages of coin burn

1. It is quite a valid argument that a proof of burn protocol encourages a long-term involvement in a project because prices will gain a greater level of stability since there is a greater percentage of investors willing to invest in the long term.

2. Proof of burn encourages the fair distribution of cryptocurrency in a decentralized manner. This is contrasting to the proof of works methodology that is used in the likes of bitcoin, where we have seen the centralization of mining.

3. Proof of burn is an excellent way of seeding new currencies.

4. Coin Burn ensures fair play if the tokens or coins initially allocated for an ICO is not completely sold. By sending those coin to an unspendable public address, it makes sure that the company does not just have an unfair amount of surplus token which they can sell at an appreciated price when the coins hit the exchange. Basically free money for them.

Source: https://cryptoverze.com/coin-burn/

Coin burn means burning out the excessive amount of tokens which left unsold during the crowdsale.So if some coins were burned it reduces the total amount which means the demand also increases.But many ICO not even to reach its soft cap and will drop their project.So if it is a good project then all of its token will be soldout.

Coinburning is when coins are sent to the wallet from which nobody owns private keys. Thus the supply decreases. When the supply decreases you get increase in price. But this is the case if demand is higher than supply and holders wish to get premium.

Yes it is going to pump its price if we are talking to supply and demand law,coin burn occurs normally in ICOs if the ICOs didnt sold all of its tokens,

Coin Burn its actually good in every ICO there's a lot of opportunity that the coin will go even higher because of the decrease of supply

Do all the burned coins are owned by the devs? or some coins owned by someone will also be burned?

In general coin burn is very nice thing because it decreases total coin supply. Basically your coins become more rare, it pushes price to upper levels. That's it. Easiest way to tell.

it decreases the total supply of coins/token so the supply will become limited because no new coin/token will be created. that the purpose of coin burning.
sometimes it makes the coin value pump. just sometimes.

To my understanding, that's not how a coin burn works. If the market cap is 1 mil, and there are 1 mil coins, that means each coin is worth $1. If you burn 33% of the coins, you then have 666,666~ coins worth $1 mil. Each coin is now worth $1.50~. I don't think it's your coins that get burned, but that's the part I'm not sure about. Anyone feel free to correct me.

That's exactly what you are thinking. Burning or destroying the rest of the coins that are left unsold during the crowdfunding is a best way of pushing the market price of a digital currency. The moment you burn or destroy it will make its supply less and and if the demand continues over the short supply, its market price will also rise drastically.