How the currency being burned?

[SuperCrypto 7193]

In fact, the currency burning process relies on converting and sending the currency to a specific address with special keys that are not accessible. In other words, this process is a way to isolate a currency.

[Abuarnabkhan 71]

Money burning is in this way proportional to gifting the cash back to the national bank. On the off chance that the economy is at full business balance, contracting the cash supply causes emptying (or diminishes the pace of swelling), expanding the genuine estimation of the cash left available for use.

[AshikSakib 5]

My dear,Explanation. When a bill is absorbed into the solution, water molecules are absorbed into the bill, and alcohol remains on the surface. When billed, it actually burns alcohol. The temperature at which alcohol burns is not high enough to evaporate water or burn the bill.Good luck...

[Brushless4500KV 4214]

20 minutes ago, Shahansha said:

The currency that produced this currency eliminates many of them, and the rest of the coins become good value, and it burns the coin, my friend, this coin burn means that the currency in the market is much bigger

Burning the coins to reduce supply is only one way to stabilize or increase the value of the coins. Miner fee also act like coin burning because it moves slight amount of coins from each wallet that makes transactions and helps to decrease supply. But I think only coins with huge supply needs coin burning. Other coins with limited supply (like BTC) can stabilize themselves without being burned.

[SuperCrypto 7193]

I know that Binance will periodically burn currencies by using a smart contract function known as the burn function. And the process of burning currencies will take place every three months and will continue until one hundred million Penance coins are burned and destroyed, which represents half of the total Penance issued.

[duncun007 3577]

i have in the market for a long time and from what i understand is that when you burn your coins like when binance did it they sent the coins to an unknown wallet without even having the key for it so that way they wont be able to get it back again.

[Irungu 4299]

yes I have heard of so many coins that are being banned am not sure what else to do there is a lot of good people out there that are losing a lot of money, most of the coins we here of are a bit made to steal from other people and thats why maybe there is a case of people having their coins removed and especially if they are not relevant

[Beromnia 733]

Welcome with me
Thanks for the great topic, today we learned a new term with you that I used to hear and never understand
Really, we are here to benefit and learn from high-end topics

[Hanan951 841]

Thanks for these informations and it still hardwork inside of that because making a coin with time make it difficult in a way or another.

[Calvinpriva 17296]

When you will do many researches about crypto you can stress yourself, to say the truth i just enjoy to have it but i don't so researches about it anymore. 

[lifelline1262 15]

If any projects want to burn their  coins there is an address that they have to send the tokens to be hold in that address

[Rasheeda1 9]

On 12/21/2019 at 11:59 AM, sdsonjoy50 said:

My ideas about currency burning were low I didn't know much about currency burning, but I got a lot of information from this post. Can I learn a lot more information about a little currency from this forum and your post has helped me a lot. Thank you very much.  Post for you to share

 Yes you are right I am agree with you and your opinion I have same oprnion like you. If the economy is at full employment equilibrium shrinking the money supply causes deflation or decrease the rat of inflayion increase the value of the money left in circulayion

[babaji 1228]

Well burning of coins is very important ,because it reduces the total supply of the cryptocurrency. For eg ripple has 100 billion supply, hence it can burn its coins on regular basis, so as to provide stability and increase the value of the coin. It is simple basic concept, burning of coins will lead to less supply which will mean increase in price. 

[Imaankhan 208]

On 12/22/2019 at 3:01 PM, Thekingcallme said:

I think the main goal of burning a currency is to increase its rate quickly and substantially in order to inject greater profits in a short time

I think you are right the main reason of burning coin can be to increase its rate but many people do not have much idea about it.

[Vivek1997 437]

Yes brother that's true information. Currency burning is the process of removal that specific currency from active market permanently for increasing value of situated currency. This either can be done by sending it to 0 value address or deleting those currency data from record. Thank you.

[m7md 0]

I do not know this process, but if it is done on a currency, is this good and the currency will increase in price or what?

[SuperCrypto 7193]

The practice of burning is common in the manufacture of crypto. Burning cryptocurrencies indicates the permanent removal of existing currencies from circulation to remove from circulation a specified number of the total available and existing symbols.

[moiz p 5]

On 12/21/2019 at 11:59 AM, sdsonjoy50 said:

My ideas about currency burning were low I didn't know much about currency burning, but I got a lot of information from this post. Can I learn a lot more information about a little currency from this forum and your post has helped me a lot. Thank you very much.  Post for you to share

My thoughts regarding money consuming were low I didnt think a lot about cash consuming yet I got a ton of data from this post Can I become familiar with significantly more data about a little cash from this discussion and your post has helped me a great deal Thank you especially Post for you to share

[Ridam 7455]

That's the thing i was seeking about. Really i would like to thank you for providing such valuable information to us before that i I haven't known about Crypto burning but now i do know. And I won't be doing this coin burning never.

[lifelline1262 15]

12 hours ago, bilalgulsher said:

just happen to one of my close friends right now he sent some Litecoin but accidentally gave the address of Bitcoin so all of his Litecoin just burned up and he has nothing now

He did it intentionally to send it to the burning address, that address has a lot of coins that has not been temper for many years

[Amdadul11 17]

How are these coins burning?  I'd like to know if anyone knows, please let me know. And the currencies in this cryto currency are online currency.  So it is not possible to control it.  Thank you so much for commenting on this topic !!

[SuperCrypto 7193]

In theory, a large part of the cryptocurrency supply is removed. In practice, any increase in prices that occurs immediately after the currency is burned, the noise that accompanies it, and the long-term price fluctuations of the crypto market, are usually lost.

[Mwaleed 4]

Well, if that happens, it will only cause partial loss and that's not good. I hope that the existence of crypto grows pure without any interests behind it. the norm of bitcoin is to save people and without transaction costs.

[Abiaan 1209]

i never knew about the  currency burning or any such things , its always good to know new things , thanks for the information , its so nice

[bakid 5]

Little is known about this crypto currency and bitcoin connection.  In fact, there is a lot of information or unknown mysteries of Bitcoin and crypto currency that I do not know.  I want to spark ideas on the connection between crypto and bitcoin