Topic: What's your take on refunding 800 BNB that are effectively burned? - page 3. (Read 509 times)
September 12, 2020, 03:31:50 PM
The coins that are stuck somewhere or gone should be counted as burnt already and returning those 800 coins to the guy from the upcoming burn does not make any difference but equates his mistake with a compensation as a 'donation' for his stupidity. This will be a lesson for him either way if CZ decides to return his BNB to him or not.
September 12, 2020, 03:21:24 PM
... It's like bringing something back from the dead lol.
I don't see this as a problem. I understand that these coins will be returned to the guy from the Fund, which are intended for quarterly burning. This means that 800 BNB less than planned will be burned next time, since these 800 BNB were actually burned now.
September 12, 2020, 02:25:54 PM
They don't have a clear plan for burning coins, I don't think there's anything wrong with that in my opinion, the Binance team just did a good thing, that's all.
September 12, 2020, 01:43:54 PM
More people going to appreciate their action than criticizing it, because the amount lost is not too small for anyone and due to the lockdown more people knew the importance of money so this is decision has been taken with all these things in their mind in my opinion.I am not going to oppose it but still it goes against the real invention of decentralization.
yes maybe that persons really need that balance and that's not small amount after all. its not change anything they are doing burn advance by the person that send the balance in wrong address. I like that idea of giving it back to the owners and I don't think some one will complain about it as long as it never change the motive of burning supply.
September 12, 2020, 12:54:50 PM
The next burn will be in three days time but, as stated in the tweet, they'll remove 800 BNB there and use it to refund the guy who begged CZ.
What's your take on that?
Lets get it straight, i am not a fan of BNB coin and i am not a big fan of CZ either, but if he could sort of issues regarding the exchange and even though it is not a conventional process of returning the coin i think it is a good cause as the coins sent by the user was burned and is not in circulation as per the tweet and if they are burning the coins and if he is willing to hold off 800 BNB to refund the user, in theory they burned the same amount of coins.What's your take on that?
The problem arises if more people start taking this approach, the power of centralization exists
. September 12, 2020, 12:08:07 PM
Changpeng Zhao is a good boy, he becomes a millionaire thanks to a crypto community, so he feels the need to return it back to the community. But sometimes, it is against the idea of cryptocurrencies. Transactions should be immutable and you are responsible for your losses, not the bank, not the third side, right?
September 12, 2020, 11:33:22 AM
More people going to appreciate their action than criticizing it, because the amount lost is not too small for anyone and due to the lockdown more people knew the importance of money so this is decision has been taken with all these things in their mind in my opinion.I am not going to oppose it but still it goes against the real invention of decentralization.
September 12, 2020, 11:24:20 AM
It is also hard decision for them at the same time they want to help the persons who send BNB accidentally.
I see it the same since they will burn the coins but they doing it advance because of mistake of that persons so I will agree with this decision if they do.
I see it the same since they will burn the coins but they doing it advance because of mistake of that persons so I will agree with this decision if they do.
September 12, 2020, 10:43:20 AM
CZ twitted earlier today about some guy mistakenly sending 800 BNB, that's worth $20K, to Binance smart chain and asked him for help.
- https://twitter.com/cz_binance/status/1304700593441632257
The next burn will be in three days time but, as stated in the tweet, they'll remove 800 BNB there and use it to refund the guy who begged CZ.
What's your take on that?
I understand it's not a mineable coin but I still find it hard to believe that it's that easy to change BNB's supply. I mean, they should just stick to burning BNB's they originally planned. The 800 coins were supposed to be gone forever but with just one tweet, it's back! It's like bringing something back from the dead lol.
UPDATE:
More details have been announced and they call it the BNB Pioneer Burn Program https://www.binance.com/en/support/articles/7bcf4da5671d44a0a5118c2277773bb4
- credit to tvplus006
- https://twitter.com/cz_binance/status/1304700593441632257
The next burn will be in three days time but, as stated in the tweet, they'll remove 800 BNB there and use it to refund the guy who begged CZ.
What's your take on that?
I understand it's not a mineable coin but I still find it hard to believe that it's that easy to change BNB's supply. I mean, they should just stick to burning BNB's they originally planned. The 800 coins were supposed to be gone forever but with just one tweet, it's back! It's like bringing something back from the dead lol.
UPDATE:
More details have been announced and they call it the BNB Pioneer Burn Program https://www.binance.com/en/support/articles/7bcf4da5671d44a0a5118c2277773bb4
- credit to tvplus006
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