Secondly, Charlie Lee is a guy I like, and he's kind of right, but he didn't exactly do much different by letting go of all his Litecoin last year. I don't think he dumped on us, but he kinda also had a big effect by what he did.
Topic: XLM Burn Increased Coin’s Centralization, Argues Charlie Lee - page 2. (Read 258 times)
First of all, is Beincrypto anything to do with beinsports? Saudi Arabia is now trying to conquer the crypto news space maybe?
Secondly, Charlie Lee is a guy I like, and he's kind of right, but he didn't exactly do much different by letting go of all his Litecoin last year. I don't think he dumped on us, but he kinda also had a big effect by what he did.
Secondly, Charlie Lee is a guy I like, and he's kind of right, but he didn't exactly do much different by letting go of all his Litecoin last year. I don't think he dumped on us, but he kinda also had a big effect by what he did.
Lee’s opinion might be right but if the SDF holdings is included to that 55 billion Lumens burned then that would be fair. However lowering supply will make stellar more valuable but it will be a mixed reactions to the community some might be skeptical about their move.
This does make sense to me because the coin is supposed to be used for airdrop or global distribution but the team decided to burn almost half of coin total supply and canceled the airdrop, most of burned coins came from the community. But it will not affect the price because from the start it has been like this, both XRP and XLM are brothers.
I would not be surprised to see both of them walk closer to full centralized cryptocurrency.
I would not be surprised to see both of them walk closer to full centralized cryptocurrency.
I personally hold several XLM. Seeing this news that Lee said it did not hurt, because it could have been a possibility that will happen in the future.
But I believe that XLM will continue to be developed.
That problem will become centralized, I think as long as they keep trying to be the best, there is no problem. And about the adoption of the period, I think SDF is enough to give free XLM to the wider community because in fact only a handful of people who enjoy the results with greed.
At least that's what I can say, I don't care about people who disagree with me.
But I believe that XLM will continue to be developed.
That problem will become centralized, I think as long as they keep trying to be the best, there is no problem. And about the adoption of the period, I think SDF is enough to give free XLM to the wider community because in fact only a handful of people who enjoy the results with greed.
At least that's what I can say, I don't care about people who disagree with me.
There are probably a few people in the XLM community who are already aware of the figures and Charlie Lee just made the figures more public. It's a fact that the team's holdings (by percentage) increased from burning less of its operating fund but to quickly interpret it as an increase in centralization might be unfair though. They still need funds to sustain the project for long term and burning more could have an adverse effect.
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And do you also agree about the statement regarding the 55.5 billion XLM not going to contribute to Stellar Lumens' adoption?
From what I've seen so far, supply is somewhat irrelevant to adoption of a certain project. It's more relevant to the price. And do you also agree about the statement regarding the 55.5 billion XLM not going to contribute to Stellar Lumens' adoption?
After the recent announcement that the Stellar Development Foundation (SDF) had burned roughly 55 Billion XLM, Charlie Lee took to Twitter to point out that based on the math, the SDF had actually increased their control of the coin’s supply by about 8%. This observation was met with some push-back from the XLM community, including attacks on Lee himself.
As BeInCrypto has recently reported, the destruction of roughly half the supply of XLM led to an almost immediate bump in the current market price. The stated reason for this decision “was to be as efficient as possible in our work,” going on to say that “those 55.5 billion lumens weren’t going to increase the adoption of Stellar.”
To read the full news, you can go here
I do have a question for all of you, especially XLM holders. I myself is an XLM holder too. However, as Stellar burned down 55 billion of its tokens, do you honestly agree about Charlie Lee's statement that it's going to increase XLM's centralization?
And do you also agree about the statement regarding the 55.5 billion XLM not going to contribute to Stellar Lumens' adoption? I would love hearing some different opinions from the amazing community here. No matter if it's positive or negative, I would greatly appreciate it.
Thanks in advance!
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