But I love how Stellar distributes the coins among users. They created 2 biggest airdrops in the history. One was managed by Blockchain.com and second one is managed by Keybase. Every participant of these 2 airdrops earned aeound 75USD in total. Good way how to distribute coins equally among users plus users are very thankful for this opportunity.
Well the downside is the immediate dump after the coin is distributed and to cover that they need to burn. The airdrop is indeed rewarding unlike any other out there however I always wonder how they could just outright did a massive aidrop like that. Maybe the answer is because they already build a community that generates a lot of demand or they have some kind of buy back method after aidrop which is not logical in term of business perspective. To be honest, the increase of XLM centralization is out of my concern at this point. 
Topic: XLM Burn Increased Coin’s Centralization, Argues Charlie Lee (Read 258 times)
To be perfectly honest about this subject unless XLM burned down their own currency (the team) that means they actually increased their control for sure.
There are 3 ways of of tokens, one is the team owning it, the other is everyone else, the third is usually not mined or not shared basically staying still waiting to come out and if you burn from that and remove it from the market that means there are less lumens available for people to mine and get and that of course increases the centralization of the team because they will have more of it.
Just because you guys made money from the burn doesn't mean you should support it, and even if you want to support it we all know that in the end you will realize it was a big mistake because teams do turn evil whenever they get richer.
There are 3 ways of of tokens, one is the team owning it, the other is everyone else, the third is usually not mined or not shared basically staying still waiting to come out and if you burn from that and remove it from the market that means there are less lumens available for people to mine and get and that of course increases the centralization of the team because they will have more of it.
Just because you guys made money from the burn doesn't mean you should support it, and even if you want to support it we all know that in the end you will realize it was a big mistake because teams do turn evil whenever they get richer.
I am holding XLM and I was pretty glad to hear about the token burn. Not any coin decides to do this step and it was necessary in my opinion, because the total supply was too big, and honestly I do not get how it should increase the centralisation level.
Yes, it's kind of obvious that the Centralization would increase if Lee is holding a part of the supply.
When there were more number of coins, it meant that the distribution of coins would be more and hence the centralization power would be comparatively less.
But now since the coins are burned, the supply is decreased meaning less number of coins would be distributed leading to more centralization power.
When there were more number of coins, it meant that the distribution of coins would be more and hence the centralization power would be comparatively less.
But now since the coins are burned, the supply is decreased meaning less number of coins would be distributed leading to more centralization power.
XLM is currently being discussed because they are burning half of the supply, which is around 55 billion. This is a crazy step taken by the CEO of XLM. However, the burning of XLM supply aims to raise the price of XLM, the less token supply, the more demand, so the price will automatically get higher. XLM has also done a massive airdrop first by Blockchain.com and the second through Keybase. This proves that XLM is really serious about developing XLM even better.
After a lot of airdrop now xlm make a move to burn 55billions supply this is huge amount of supply but take a look at the current price its going back to 0.06 because bitcoin suffer from the hard dump and most altcoin like xlm follow its direction.
as SDF burn 50 billion xlm but the price fluctuates in 0.06$ to 0.08$
(date Nov 08 to Nov 19) but no increase in sudden hike I think xlm needs more adoption. But after-burn still to much supply in circulation.
The price of XLM is going back again to the 0.06 and that means the burn of 55 billion XML didn't give any impact to the price of XLM itself. I do agree with what already said by charlie about that. (date Nov 08 to Nov 19) but no increase in sudden hike I think xlm needs more adoption. But after-burn still to much supply in circulation.
Those 55 billions will not be adopted by the users.
Some may think the burned token will correlated with the price of XLM itself but remember in circulating supply is only 21 billions XLM.
It's impossible to the crypto users to adopt another 55 billion XLM. XLM has become a centralized coin since it was started in the past. What created by jed is a centralized coin. But this one is a bit better compared with XRP. The worst centralized coin i have ever seen.
Charlie Lee, is someone i knew for been honest type even when sold all his LTC holding he said it to the public and aside that after reading the article I'm sure he's telling the truth cause the coin burned by XLM ought to be giving to the public. However, before Charlie make his statement i also believe the 55.5 billion coins burned by the XLM team won't improve the coin price in the market.
I'm not concerned about burning 55 billion tokens. It's been Charlie Lee's decision and I believe it's a good decision that will make XLM prices go up. I am also an XLM holder, quite happy with this burning, even though there are pros and cons. But the price of XLM will improve enough when bitcoin is stable so that XLM will recover.
Definitely burning XLM coins contributed to the increase in the price of the coin, but I think the airdrop they spent negatively affected the price of the XLM coin, since most of those who received the coin sold them for free on the exchange cheaply. But in general, such steps by the team led to the fact that more people learned about the project.
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!
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!
Lee has a different worldview. With this decline in the number of XLMs, I do not know what rate of centralization can be achieved. But I think this will have a positive effect on the diet. I know, so far there hasn't been a significant rise. Maybe not in the short term. But if we look at the big picture, this decrease in the number of coins will surely have a positive effect on the price.
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!
Stellar foundation claims that the burning was necessary in order to implement a newer and more efficient business model. It also seems like there may have been too many Lumen available within the circulating supply so they decided to burn some.
as SDF burn 50 billion xlm but the price fluctuates in 0.06$ to 0.08$
(date Nov 08 to Nov 19) but no increase in sudden hike I think xlm needs more adoption. But after-burn still to much supply in circulation.
(date Nov 08 to Nov 19) but no increase in sudden hike I think xlm needs more adoption. But after-burn still to much supply in circulation.
It's because the price of any coin won't simply grow overnight. And as you have said, we need more adoption and when it will happen? only time can tell. Right now we are still in the bear market that's why the price is very slow to grow. As per Charlie Lee's argument, I think he has a point here, however we all know that XLM is already a centralize coin, so it doesn't make sense to say that it will increased the coin's centralization to 8%? In the first place, you have given them control only a 8% won't make any difference at all, IMHO.
as SDF burn 50 billion xlm but the price fluctuates in 0.06$ to 0.08$
(date Nov 08 to Nov 19) but no increase in sudden hike I think xlm needs more adoption. But after-burn still to much supply in circulation.
(date Nov 08 to Nov 19) but no increase in sudden hike I think xlm needs more adoption. But after-burn still to much supply in circulation.
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.
Burning of token usually is meant to reduce the supply strength and then increase the value of the token a little bit because I have seen some projects use this in the past, but I don’t know why it did not have much effect on stellar after the action, and maybe it will still have an effect, I am watching.I would not be surprised to see both of them walk closer to full centralized cryptocurrency.
I am not much an investor or a user of xlm, but I think that they are still a little bit better than xrp, xrp has the highest level of centralization, which is why you are seeing it not growing at all, because people would rather go for projects that they know they still have some level of privacy and then control over their investment, unlike all this coins that controls whether the value increases more or not. From these xlm actions, you will see that they have no similarity to xrp.
But I love how Stellar distributes the coins among users. They created 2 biggest airdrops in the history. One was managed by Blockchain.com and second one is managed by Keybase. Every participant of these 2 airdrops earned aeound 75USD in total. Good way how to distribute coins equally among users plus users are very thankful for this opportunity.
I also don't really like and save xlm, but I like their free airdrop especially since it was held on the blockchain site, I only get $ 25 just by verification there, but unfortunately the airdrop is stopped while many of my friends don't get aidrop payments from blockchain, no which looks interesting by burning XLM supplies all eyes just want a free airdrop than buy it 
But I love how Stellar distributes the coins among users. They created 2 biggest airdrops in the history. One was managed by Blockchain.com and second one is managed by Keybase. Every participant of these 2 airdrops earned aeound 75USD in total. Good way how to distribute coins equally among users plus users are very thankful for this opportunity.
I doubt that all of the coins that goes into the airdrop will end up in the 'rightful' people's hands. I.e., the people who are supposed to adopt the tokens as a means of payment or continue to use their network.
Almost everyone will be seeking to cashing out their Keybase and other airdrop earnings instantly as they receive it, which means that adoption will likely not increase linearly with the amount of airdropped coins.
But I doubt that centralisation will be deteriorated as a result - it will be stagnant at worst.
Almost everyone will be seeking to cashing out their Keybase and other airdrop earnings instantly as they receive it, which means that adoption will likely not increase linearly with the amount of airdropped coins.
But I doubt that centralisation will be deteriorated as a result - it will be stagnant at worst.
XLM is another shit from Ripple corporation. Do not believe into these burning dramas.
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.
It makes total sense. When you burn total supply you should also burn same part of tokens you got fro free. Same problems were at some ICOs few years ago. Planed was that developers got like 20% of all tokens and then they burned what was not sold in crowdfunding and then developers share grow for over 50% of tokens. With tokens that dont matter if developers then dont dump them, but with stellar maybe matters. But I dont know much how stellar consensus works. Reducing number of coins always empower holders.
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.
~
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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