How the currency being burned?

[Zues 1069]

On 12/20/2019 at 9:37 PM, SuperCrypto said:

We hear a lot about the term coin burning, and I think everyone knows that it is a way to destroy currencies in order to either reduce inflation for it or to raise its market value. It is an axiom in the world of trade in general that the price increases whenever the supply decreases and the opposite is true.

But technically how is this burning process done?
In summary: There are two ways to do that, either for the coin metallic to be burned a part of it and those who have high-strength computers working on the principle of Proof Of Work (pow) send it to a zero address (0x0000000000000000000000) or an unknown address of the keys.
The second way is for developers to call a specific function that they had prepared at the time of coin creation and to delete the number required to be burned from the main record. The bottom line is that currency burning means (isolating) this amount from the circulating supply chain, either with a view to limiting the rate of currency inflation , Or reduce the current supply of this digital currency.

I think that inflation is the cause of the burning of the currencies. They are sending money to blank addresses and the money will go to nowhere. I hope that the burning of coin stop because coins are going to waste

[abualez 4106]

Wonderful publication, my friend, I did not know much about burning currencies and that their purpose is to prevent inflation of the cryptocurrency and raise the price of the currency.

[SuperCrypto 7193]

5 hours ago, Zues said:

I think that inflation is the cause of the burning of the currencies. They are sending money to blank addresses and the money will go to nowhere. I hope that the burning of coin stop because coins are going to waste

Yes, according to what I understood that inflation is the reason for burning currencies and the main goal of burning a currency and sending it to an unknown address is to decrease its total number and remain rare to increase its value, and this is good for cryptocurrencies.

[malik6314193 5449]

Now i got it by your post. Thanks for sharing this useful information with us. I think that sending in the wrong address will lead to burning of the coins. 

[AkaCrafterCZ 1140]

Proof of Burn cryptocurrencies are all about sending the coins to an unspendable address itself, other coins can be burned manually to reduce the inflation and increase the price as you already said.

[SuperCrypto 7193]

On 4/23/2020 at 10:38 AM, Jamesnachoog said:

I don't know about coin burning but it sounds like isolation of coins from being circulated around like other coins in the Cryptocurrency marketplace and it has to be with the help of smart contract or something else.

There are several reasons that cause companies that own currencies to resort to the process of burning currency. The reason may be the restructuring of the financial structure and the confirmation of its ownership of these assets, but the most general and general goal is to reduce the volume of currency in circulation.

[George10 9932]

Thanks for this valuable information on the meaning of coin burning in cryptocurrency as a way of isolating some of the supplied coins by sending them to unknown address thus reducing inflation,it's well explained.

[Ayush Singh 1175]

According to my knowledge the coin burning refers to the rapid increase in the rates of the coins because of a high demand to make a good amount of profit in a short time it generally happens when there is a bull run in the prices of coins.

[Treat1234 0]

The currency is being burn by sending it to one and only address on ethereum network,I am tokens about tokens burn, but the other forms of burn through their blockchain

[Philippe2001 356]

Thank you for the good explanation, I understood that the burning of cryptocurrencies
There are two ways to do this and the goal of burning 
cryptocurrencies is to reduce the rate of currency inflation and supply

[Shaza Ahmad 1682]

Useful information, thank you, I think that burning is the most widespread method among cryptocurrency projects to increase the value of the token, but I think that if they focus on the value of the project and what it provides to society, it will be better.

[Rezort 846]

Burning process of cryptocurrency is might be very important for many crypto because most of the time it gives a very good push for the price and capitalization of cryptocurrency.

[SuperCrypto 7193]

2 hours ago, Rezort said:

Burning process of cryptocurrency is might be very important for many crypto because most of the time it gives a very good push for the price and capitalization of cryptocurrency.

Yes, this is correct because the process of removing a number of tokens or digital currencies from circulation is useful in reducing inflation rates and reducing the supply of that currency, and then raising its market value.

[P A Ashif 2409]

This is unfortunate to know that cheap tricks are going on. I think that those who are destroying or burning this coins if They use their brain In a right way Then it will be good for others also.

[magd 5231]

I did not know this detailed explanation about the burning of currencies, but now I understand the main principle of this method, which aims to raise the percentage of demand and reduce the supply of encryption and thus this contributes to raising the price of cryptocurrencies without the occurrence of cash inflation in the market

[nykas 2812]

Cryptocurrency burning is significant event for every token ecosystem, developers can reduce supply of tokens and make it rarer what promote price growth 

[Zalaks007 543]

I think why most currencies are being burned is because of it's inflation. When this occurs the price of coin always goes down before it rises again.

[TimopheyKa 3900]

If I understood the essence of the issue correctly, it seems to me that the point is that very often, users lose their data from crypto wallets, and therefore, the funds are in fact burned out, because you cannot get them back!  And in fact, it turns out that you lose your money in a black hole

If I understood the essence of the issue correctly, it seems to me that the point is that very often, users lose their data from crypto wallets, and therefore, the funds are in fact burned out, because you cannot get them back!  And in fact, it turns out that you lose your money in a black hole

[Tine0313 3053]

Well  i can say i am not yet totally informed about this matter. Thanks for sharing this, now i know why the market sometimes fall and rise. Burning of supply is really cool to make the price get higher.

[koussai999 1986]

It is completely dependent on doing a reduction in the number of the currency and thus doing a decrease in the supply of the currency and thus raising the value of the currency The matter completely depends on the supply and demand operations that raise and lower the value of the currency

[Mwangi 5611]

Okay am not sure about what you have stated but its true am not sure of what you stated but it seems to be something that happens, am so sure that in other times I have experience money being destroyed , when sometimes money  notes for that are withdrawn from the market and circulation then people are able to make sure that the serials dont even come back and the best thing is to burn them so thats why we have all this kind of things happening

[Irungu 4299]

You mean the fiat currency , well the banks and the central banks for that know how to control such kind they know how to value such kind and it works well for all those who know how the economy and flow of cash work, there is the renewal and there is when there is influx plus the damaged  currency  has to be replaced with new once

[Moaz 7239]

There are many developers of cryptocurrencies resorting to burning the currency in order to prevent inflation and raise the price of this currency, and I think that this method is done by sending large quantities of this currency to the wrong addresses

[Ndayebo8 0]

On 12/22/2019 at 11:25 AM, bliznec said:

If crypto is burned, then the price will soon prevail, cash in total. The price of a coin does not always rise. 

the world of digital currency trading, the amount that is burned is never recovered and there is no way to return it again, since the amounts that are deleted do not have any numbers or address to return it.

[Teresa112 37]

Yes brother this is true information.  Currency burning is the process of removing certain currencies from a permanently active market to increase the value of a fixed currency.  I think this can be done either by sending the value to 0 or by deleting the data of that currency from the record. I don't know much about it, brother.