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Topic: Funfair (FUN) is burning 6 billion coins tomorrow (Read 1765 times)

newbie
Activity: 1
Merit: 0
FunFair (FUN): Supporting the Fun in Online Gambling

https://www.onebitcoinbuy.com/funfair-cryptocurrency-buy-or-sell-fun-invest-money.php

 Tongue

FunFair (FUN): Online Gambling Backed by Ethereum Smart Contracts


newbie
Activity: 71
Merit: 0
For those not following FunFair this burn does not appear to be an attempt to jump on the recent fad. They have been attempting to find a fair distribution solution for a while, one that would not devalue current tokens, with the possibility of giving current holders additional tokens. These discussions went on for a couple months before FunFair finally decided they would do an Asia tour with a second ICO directed towards Asian countries. Unfortunately, the Chinese crackdown on ICO's put an end to this plan, and as a result there hasn't been an obvious solution for the last month. It seems that this burn is an attempt to remove the extra tokens from play simply because there has not been a mutually agreeable solution to their distribution. That said, I wouldn't be surprised if the burn is already priced in and FunFair doesn't see a huge pump.

Has the price risen after the burning?
newbie
Activity: 16
Merit: 0
For those not following FunFair this burn does not appear to be an attempt to jump on the recent fad. They have been attempting to find a fair distribution solution for a while, one that would not devalue current tokens, with the possibility of giving current holders additional tokens. These discussions went on for a couple months before FunFair finally decided they would do an Asia tour with a second ICO directed towards Asian countries. Unfortunately, the Chinese crackdown on ICO's put an end to this plan, and as a result there hasn't been an obvious solution for the last month. It seems that this burn is an attempt to remove the extra tokens from play simply because there has not been a mutually agreeable solution to their distribution. That said, I wouldn't be surprised if the burn is already priced in and FunFair doesn't see a huge pump.
sr. member
Activity: 673
Merit: 253
It will be probably easy and good option for big profit with low with a small cash deposit. Very good options for new users and people who want try earn some money from coins
full member
Activity: 177
Merit: 100
Im getting tired of burning. Im starting to think they are using it as marketing. Trig, enc2, dacrus, ect...

Yeah all the same developers huh? Nothing new here, its been like that since the inception of alts.

full member
Activity: 294
Merit: 100
Burning is ok if it helps to keep the value stable and so the project alive. If it does nothing but fall beause of whales and markets dumping (like bittrex dumped 15% of all alt coins before the current crash), then small investors and supports will leave the project...

Substratum for instance is a great project that will help society and freedom of speech in many ways decentralizing web content.. and they are burning tokens eventually, that will help the price being stable and so the holders and the nodes (wich are common people like you and me) carrying on with the bad trends, the whales, the fud, etc..
hero member
Activity: 1540
Merit: 500
They will burn from total supply which is around 17 billion while circulating supply is 4 billion. I don't think it would affect the price as much. risky
hero member
Activity: 644
Merit: 500
After a burn - does the value of the coin go up immediately or what's the usual process in anticipation of a burn? Never experienced one before.
depends on how the market will react and if the project got a real supports sometimes instead of hyping the price the whales that got a lots of baghold
will just dumped what they have and start shaking the market so its much better to observed before jumping to this, burning coins is good for a project
that will show updates.
member
Activity: 160
Merit: 12
🤖UBEX.COM 🤖
They're burning/have burnt about 30% of all coins, coins which were not already sold so I don't see the connection between that and a 3-4x rise, logically you would think at best a 33% increase in price would occur, which is about what happened unless I am mistaken.
full member
Activity: 630
Merit: 110
Burning coins seems the latest fad :-)  Flik coin is burning 90% of its coins this month too.
full member
Activity: 226
Merit: 100
After a burn - does the value of the coin go up immediately or what's the usual process in anticipation of a burn? Never experienced one before.
newbie
Activity: 7
Merit: 0
Buy the rumors sell the news Wink
full member
Activity: 266
Merit: 100
FUN is burning tokens tomorrow, October 18th. They will be burning 6 Billion coins from the total supply. At current price that's an easy 3x minimum but I see 5 or 6x possible. Get in while you can. Bittrex has the highest volume. Don't say I didn't warn you.

Interesting. I don't normally buy into coins before they burn, but this coin has actually been on my radar for a bit -- Now might be the logical time to pick some up.

Thank you for the information.
newbie
Activity: 71
Merit: 0
Thanks for the heads up. Exciting news for sure Smiley This will definitely give the price a nice boost,

It should burn more to give the price more boost.
newbie
Activity: 60
Merit: 0
FUN is burning tokens tomorrow, October 18th. They will be burning 6 Billion coins from the total supply. At current price that's an easy 3x minimum but I see 5 or 6x possible. Get in while you can. Bittrex has the highest volume. Don't say I didn't warn you.
And so? what's next from the funfair? The price just get another flash increase and this time another dip to the fun fair has come? But i don't think so if that could be possible in the future.
A short hype.

Well they just hired a guy who used to work for William Hill and grew that business which is a nice plus as they have quality people on board.

Their prototype also works and you can try it on the site.

They also state the reason why they are burning the coins in the update.
sr. member
Activity: 532
Merit: 250
Thanks it seems that is true and would be beneficial if you buy funfair now. It will definetely rise as they burn lots of token.
full member
Activity: 961
Merit: 110
SweetBet.com
Thanks for the heads up. Exciting news for sure Smiley This will definitely give the price a nice boost,
full member
Activity: 210
Merit: 100
Funfair will rise next year...
sr. member
Activity: 2170
Merit: 254
FUN is burning tokens tomorrow, October 18th. They will be burning 6 Billion coins from the total supply. At current price that's an easy 3x minimum but I see 5 or 6x possible. Get in while you can. Bittrex has the highest volume. Don't say I didn't warn you.
And so? what's next from the funfair? The price just get another flash increase and this time another dip to the fun fair has come? But i don't think so if that could be possible in the future.
A short hype.

I agree with you. It is a way, for the developers, to rise the value of their coin and make heavy profit of it and then the coin will fall back. It is a special manner to pump and dump
member
Activity: 60
Merit: 10
Why the price don't increase because of the burn?
I don't understand it will be tomorow..
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