How the currency being burned?

[satella17 65]

On 12/20/2019 at 8:49 AM, SuperCrypto said:

This process is a way to isolate the currency from the circulating supply chain, either with the goal of reducing the rate of inflation, or reducing the circulating supply of crypto currencies.

and so raise its price and then merter it back to the market and sell it at a higher price

[Gluttony 1775]

If ever they are limiting the quantity of a coin there would be a possibility that they would still be going to reproduce it again since there is also a possibility of hoarding among the users who are engaging themselves in the trade exchange. Their means of burning is to increase the price range of a coin which is an advantage to the hoarder if that hoarder manages to a lot of quantity of those coins. The drawback here is that the cycle of the currency will slow down since both players are trying to manipulate the cycle by means of reducing the production of coins and limiting the coins being used in the trade exchange.

[Mosab73 333]

Actually, this topic is good because I had no idea about burning the currency, and I think that burning a coin can be positive because it reduces inflation or reduces supply in order to raise the value of the currency, but the burning of the currency can be exploited in the form of speculation in prices in the market and this in turn negatively affects the rest  Exchange Rates

[Adel97 35]

I also heard of burning tokens or digital currencies, but I did not know how to do it, thank you for your information.

[yato987 2811]

well explained , i heard recently about some currencies are getting burned and didn't get the idea how they are doing that and even why but now it makes sense since it is to reduce the supply for it and as i know this will help to increase the value of the currency in the market

[Affect579 66]

In fact, I did not think about it before. Thanks for your useful post, I think you helped me and many topics have read your post, they may think about this topic.

[Bills 583]

In my personal criteria, the most burned currency will be that of governments, especially communist governments, which are very bad and want to take control of everything.

[cryptouser1 71]

Burn a coin. I don't think there would be a need to do that. Maybe to a cryptocurrency. That would be impossible to do.

[Matias1209 84]

El 20/12/2019 a las 8:37, SuperCrypto dijo:

Escuchamos mucho sobre el término quema de monedas, y creo que todos saben que es una forma de destruir las monedas para reducir la inflación o para aumentar su valor de mercado. Es un axioma en el mundo del comercio en general que el precio aumenta cuando la oferta disminuye y ocurre lo contrario.

Pero, técnicamente, ¿cómo se realiza este proceso de grabación?
En resumen: hay dos formas de hacer eso, ya sea que la moneda metálica se queme una parte de ella y aquellos que tengan computadoras de alta resistencia que funcionen bajo el principio de Prueba de Trabajo (pow) la envíen a una dirección cero (0x0000000000000000000000 ) o una dirección desconocida de las claves.
La segunda forma es que los desarrolladores llamen a una función específica que habían preparado en el momento de la creación de la moneda y eliminen el número requerido para ser quemado del registro principal. La conclusión es que la quema de moneda significa (aislar) esta cantidad de la cadena de suministro circulante, ya sea con el fin de limitar la tasa de inflación de la moneda o reducir el suministro actual de esta moneda digital.

The burning of one of the cryptocurrencies is a unique mechanism, as the usual fiat currencies do not usually "burn", although the flow of available currency is regulated in another way. Token burning is similar to the notion of share buybacks by public corporations, which reduce the number of shares available. (Yobit)

[botukk1234 38]

On 20.12.2019 at 15:37, 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.

Thank you very much for the information! I will use it for good purposes in my earnings.
 

[Albany1209 210]

           Basically, a token burn event occurs in the following order:

         

       A coin holder will activate the burn function, indicating that you want to burn a nominated amount of coins.

 

       The contract will then verify that the person has the coins in their wallet and that the number of coins indicated is valid. Alone positive numbers work.

 

        If the person does not have enough coins, or if the indicated number does not is valid (for example, 0 or -5), the burn function is not will run.

 

        If they have enough, then the coins will be subtracted from that wallet. The total supply of the coin will be updated and the coins will be they will burn.

[Omar Ommeish 4872]

Burning the currency always causes the price of this currency to rise because the demand for it increases and the supply decreases in the cryptocurrency market, and this technology in cryptocurrencies is not found in fiat currencies only, and this is what caused inflation in the economy.

[Rosarvx 965]

portion of the cryptocurrency supply is removed, the currency burning process relies on converting and sending

[nykas 2812]

It`s very interesting to learn more about cryptocurrency burning and how it works. Burning is a very smart way of increasing demand and price of the coin, which has very big supply. The best example of tokens burning is Binance Coin. Team has already burned BNB 11 times since its launch 

[matias estigarribia 1605]

Thanks for the informcaion friend! I am new to the world of cryptocurrencies and I have been making several mistakes. I'm taking more time in the forum to read and learn concepts that I still don't understand!

[Kafon 0]

Burning a quantity of any digital currency contributes to increasing its price and the investors' desire to own it. But I think that it is not logical, and digital currencies should not be burned. An excellent project that has a great development in blockchain technology usually does not need to burn its currency to attract investors.

[godislovefll 1880]

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

Escuchamos mucho sobre el término quema de monedas, y creo que todos saben que es una forma de destruir monedas para reducir la inflación o aumentar su valor de mercado. Es un axioma en el mundo del comercio en general que el precio aumenta cuando la oferta disminuye y ocurre lo contrario.

Pero, técnicamente, ¿cómo se realiza este proceso de grabación?
En resumen: hay dos formas de hacerlo, ya sea que la moneda metálica se queme una parte de ella y aquellos que tengan computadoras de alta resistencia que funcionen según el principio de Prueba de Trabajo (pow) la envíen a una dirección cero (0x0000000000000000000000 ) o una dirección desconocida de las claves.
La segunda forma es que los desarrolladores llamen a una función específica que habían preparado en el momento de la creación de la moneda y eliminen el número requerido para ser quemado del registro principal. La conclusión es que la quema de moneda significa (aislar) esta cantidad de la cadena de suministro circulante, ya sea con el fin de limitar la tasa de inflación de la moneda o reducir la oferta actual de esta moneda digital.

This is also good that it exists and happens because it is as you say, it helps the price of the currency rise considerably and it will always be a fundamental step to help in the growth of a currency and give it more truth.

 

[KHALED ADWANI 1216]

Currencies that use this technology in a sophisticated way will reach very high prices in the future.

You stop currency inflation at a time when the demand increases.

The greater the demand, the greater the amount that is burned.

In the end, you will get to the point where we need a lot of this currency and there are only a few

[yonkii 3205]

Thanks so much for this explanation. I have heard about coin burning and read some more difficult to understand articles but this makes it very clear. I don't think there is need for Proof of Work mining process though, you can just send the coins to this adress and you are done with them forever!

[Razan alikac 1899]

Coin burning is available to anyone at any time.  By calling this function one can always remove a certain amount of coins from the periodic view.  All currency burns are recorded as a transaction on the blockchain.  This means that it is 100% transparent and anyone is able to verify that coins have been burned and destroyed.
 If someone implements the burn function to burn your digital currencies.  It will be destroyed forever.  It is impossible to recover coins after they have been burned.

[percare 3192]

On 12/20/2019 at 3:37 PM, SuperCrypto said:

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.

Burning is executed this way as explained in the post correctly. And it is always reducing the total supply of the coin burned. Last year we had Stellar burning billions of tokens and the index websites later corrected the total supply of these coins after they verified the burning of coins.

[setifien 1016]

Well explained topic, I think burning coins is a good strategy to manage the inflation and make a coin/token more valuable (by reducing its total supply) but in the other hand, burning is hard decision to make because it can cost a lot for the team

[annayks 2314]

The burning means that there was a big supply of tokens and economically it would be better to remove from circulation for ever. It has been done by some projects and will happen again. When it is done it reduces supply and sometimes increases price. 

[kryptonick 2659]

The burning of supply is being taught in economics lessons as it is a method for producers to increase profits depending on the goods they offer. In the case of cryptocurrencies, if we have a useless altcoin it won't help even if they burn everything. XLM burned 50 billion coins that were premined anyway and it didn't matter. XRP considers doing the same and it won't matter either.

[mahdititus16 216]

how the currecy being burned that is good question and i can tell you about it good information 

yea burning a coin is always a good thing and whenever a coin is being burned that means the price will go up because there now less coins in the market.

so ihope i answer to your question and good luck for you .