How the currency being burned?

[betania1 283]

It is very interesting to know about this since it is how you mention many know what burning is but they do not know where the burned tokens are going so I think that the idea is always to pump the prices of the currency which has been burned what makes this a great option to increase prices.

Edited January 18, 2021 by betania1
posting error

[MK AHMAD 1134]

According to me I have been hearing about this currency burning but don't know what it's all about but with this explanation I could understand what it's means and how it is been taken care of and at same time the reasons why it is been made in order to put things into order 

[celeste10 251]

Your post is interesting, friend, we have always asked ourselves the question as a child why we do not print coins and that's it, everyone is millionaires and really with your concept it is something that would greatly increase inflation, thanks for the information friend.

[Pereira 2303]

The simple fact of telling the public that there is going to be a burning of some cryptocurrency, it gradually increases before "burning" which in itself is an isolation to reduce inflation and increase its value on a large scale, but it does not come to me. a question which is: can a cryptocurrency be destroyed from the blockchain?

[Quickbee 26]

Thanks for explaining to us the meaning of 'burning of coins'. The burning of coins does not guarantee price rise of the coin due to short supply. But many times that is the case.

[MonaAhmad 146]

Yes, my friend, thank you for this valuable information, and I think that the Turkish government did that in the past in its national currency, so every million old Turkish lira is equivalent to one Turkish lira

[Harbeeboullah 428]

There are a lot of things about cryptocurrency such as bitcoin, litcoin, ethereum, xrp and other that we don't know about them but we need to be more careful on which one we invest on but to me cryptocurrency like bitcoin can not be banned again 

[abdullah553 1981]

On 12/20/2019 at 3:37 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.

Indeed, the burning process is really good for people to work and reassure, currencies may rise because the large supply cannot rise well, so burning

[abohasnn9 2401]

My friend, the cryptocurrency is burned in two ways, which are currency whales, so when they sell what they have, the currency will be destroyed. The second method is for the purpose of reducing inflation on the mark. The currency is not any currency that was a sermon for purposes Thank you

[Jack764 1841]

The process of burning the currency is a bad act, and I do not know what benefit a person can gain from this matter is an act of harm to the owners of this coin project

[Choudhary umer 0]

Gentleman you said absolutely right the burned of the cryptocurrency e its means that the destroyed the currency but I want to tell you that the population of the world are are know about the cryptocurrency and looking interested in the cryptocurrency

[Pranto1 40]

Well, if it happens, it will only cause partial damage and it is not good.  I hope the existence of crypto will grow authentic without any interest behind it.In fact, Bitcoin and cryptocurrencies have a lot of information or unknown secrets that I don’t know.  I want to spark ideas about the connection between crypto and bitcoin.

[lilisbet18 231]

What a good point, this without a doubt that the way to reduce the devaluation is this and that is extremely good for all cryptotalk teaches you this type of thing that is the good thing about this forum that we learn too much more however some countries are with a giant inflation and they will still continue like this for their bad actions.

[RabitoBB 29]

Friend, excellent topic, I did not understand how the burning of coins works technically, I only knew that it consists of removing a considerable amount of coins from the market and making them inaccessible and unusable so that the value of said cryptocurrency increases due to the decline that this causes, mainly I have seen this case on Pancakeswap, as they burn a lot of coins every month.

[Roman Wickler 1021]

There are alot of currency that are be burned. My ideas about currency burning were low . I didn't know much about currency burning bit i heard alot of times. Burning coin is good for rising the price. But for your post i know more information about burning coins.

[Ahmad ah 1212]

this is good . The method of burning the currency is a very useful method with the aim of controlling the monetary mass of digital currencies, with the aim of reducing inflation or raising the price of the currency and preventing its deterioration, because the price of the currency decreases when the volume of the trader increases and rises when the volume of supply decreases.

[tobom 133]

I did not fully understand the reason for this. I hope they do this with good intentions. If it's something that puts people in a difficult situation, I think it's definitely not the right thing.

[maarcoferrer 1096]

Woww! The truth is that I did not know this, it may seem super convenient as you name the burning of coins when you want to increase the value or lower it to 0. These are new strategies that are being developed over time and that we are totally unaware of. Like this strategy, there must be many others when you want to do something convenient with cryptocurrencies.

[KARIM Sy 253]

If you implement the burn function to burn your digital currencies.  It will be destroyed forever.  It is impossible to recover coins after they have been burned. Binance burns coins periodically through the use of a smart contract function known as the burn function.  The burning process is scheduled to take place every three months and will continue until 100 million Binance coins are burned and destroyed, which represents 50% of the total Binance coin issued.

[Malikjnb 1235]

I think this process is a way to isolate the currency from the surculating supply. Iff your supply is low and demand is high then any coin is burned and it market price will rise up. I totally agree with you opinion. Your post is very important.

[AL SHAIMON 1293]

Coin burned is a very old concept of crypto market. Sometimes coin burn happen for increasing the price of the coin. It happened for making supply chain more strong and the demand of coin also increase.

[milyapsak0901 693]

As far as i know crypto can be burned if the creators send the coin unknown adress. This is the only method that i know. Crypto burning can really help the price increase and every big crypto can do that time by time. Like bnb, binance is burn some part of bnb couple times in a year. There are a lots of examples like bnb.

[guatazoo 7150]

As I know currencies cannot be burned but the currencies if they don't have the demand they will surely be died when there will no have the investors. 

[Ram96 17]

The process of burning the currency, I think, is the process of breaking the price of the currency more than it was or where the price of the currency has decreased, which is not popular, but it is necessary, and then the price may return until it rises more than its price at the time of decline

[koynayak 1923]

You explained very well, big cryptocurrencies always burn their crypto for price increase and increasing their share. I always find coin burning similar to buying back stock. It's really similar to that, some companies buy their stock back so they can increase their number of stock and the price of the stock can increase.