Is it possible to remove or destroy the supply of any coin?

[AlexBerkut 51]

On 11.03.2020 at 13:24, teminalibug said:

I believe the supply if coins is the season when coins are generated either by mining or staking, then can not be be destroyed that is why crypto is not a scam and people don't have to worry about any coin just disappear completely, the only stake is decrease in demand.

But it come to my mind what if in some way it is possible to end the supply or cut it off, eliminating it??!!

In order to disable any decentralized system, it is necessary to break most of its nodes. Or block the entire Internet so that the nodes cannot exchange information with each other.
Fault tolerance of such systems is their big plus

[Bulver 100]

Well, in general, if we are talking about bitcoin, then production decreases and the last bitcoin will be mined in 120 years, this is written in the code.  Now Defi projects appear and are actively developing.  What if there is an opportunity to stake mined coins that are no longer there and receive new coins to increase demand, I think this is an interesting idea.

[Shaza Ahmad 1682]

Well, many projects burn their currencies permanently, some of them every day, others every quarter, according to the plan of the project team, the goal of burning is to reduce the existing amount and increase the value of the currency, projects that have issued a token on the Ethereum blockchain send the burned coins To address 0x000 and this method is currently applied to Binance Smart Chain as well.

Edited October 8, 2020 by Shaza Ahmad

[Cryptomint 433]

Yes you are right my dear friend we can not destroy this. Because we don't have ability. But if the coin already issued by a scammer so it can do this.

[yonkii 3205]

I don't know what this means. There can be burn of supply but not all of the supply. What you own in your wallets is yours and nobody can take it, unless there is some bug in a token software or there is a command that allows a scam token to do that.

[Sykkuno 2887]

I think that you haven't done any research at all and just trying to create posts without having the least knowledge required. I've read many posts that are just clueless and contain questions that you shouldn't be asking because they only show incompetence to understand the simple idea behind cryptocurrencies. 

[Fixfin 2569]

I don't know exactly what this question means, do you mean that something will happen like a bug and cancel all the supply of a cryptocurrency? The way you think about it is very difficult to make any answer about that. You should start reading about Bitcoin before you start making questions like this one. If you haven't done any research how can you ahve questions. It is like asking if suddenly all the tires of all cars in the world can break.

[percare 3192]

It is possible to reduce the supply by burning your tokens, sending them to genesis address, from there there is no way to be transferred or used so it is counted as burned coins and removed from the total supply. If this was your question about as perhaps you are discussing the whole supply of a coin which in this case would be ridiculous.

[Mella 3680]

I am not see a way that you will be able to eliminate the total supply of a coin but every coin is different so you maybe can find a cryptocurrency that is centralized and can have code to be eliminated all the supply if the developer choose to do this. This is why the cryptocurrency have open source, to be audite by other developers and give the ok that the code is good and nothing like this exists.

[annayks 2314]

I don't think there is something like that but you can create your cryptocurrency and put a line of code to auto destruct all the coin supply. You seem to have a terrible impression of how cryptocurrencies work and will probably need a lot of time to learn.

[abdullah553 1981]

On 3/11/2020 at 11:24 AM, teminalibug said:

I believe the supply if coins is the season when coins are generated either by mining or staking, then can not be be destroyed that is why crypto is not a scam and people don't have to worry about any coin just disappear completely, the only stake is decrease in demand.

But it come to my mind what if in some way it is possible to end the supply or cut it off, eliminating it??!!

Yes, digital currencies can be destroyed or burned, and it can happen in currencies dramatically in order to reduce the amount in circulation

[bogdanoff 3173]

You say if it is possible to end the supply. You don't say or think about who will do that. Think about what you write as you are having abstruct thoughts. Suddenly the supply of any coin will just vanish?

[cryptovlek 2597]

In Bitcoin it is not possible because of the way it is governed. Each coin is different so perhaps in some this is possible if a developer has some fail safe mechanism to destroy the coin at will. If you can read code it is all open source and you can find more answers to questions like this.

[setifien 1016]

It's all about their creators and what the way the have coded their coin/token, but in general they can remove a part of supply by burning and even they can make the supply unlimited.

[kryptonick 2659]

On 3/11/2020 at 11:24 AM, teminalibug said:

I believe the supply if coins is the season when coins are generated either by mining or staking, then can not be be destroyed that is why crypto is not a scam and people don't have to worry about any coin just disappear completely, the only stake is decrease in demand.

Crypto is a word used for cryptocurrency.

Using the sentence as you did: "crypto is not a scam" means that no cryptocurrency ever was a scam.

Using it the opposite as some think: "crypto is a scam" means all cryptocurrencies are a scam.

Do you think any of these are correct?

 

Unfortunately many cryptocurrencies were scams no matter how you explain it. Also this reason is not valid either, there can be cryptocurrencies that do that exactly.

[Frodler 943]

It's virtually impossible to distroy coin and just as @cryptovlekhas rightly mentioned, each coin is totally different from the other coin and these makes it impossible to do that 

[Francisco87 651]

On 3/11/2020 at 10:24 AM, teminalibug said:

I believe the supply if coins is the season when coins are generated either by mining or staking, then can not be be destroyed that is why crypto is not a scam and people don't have to worry about any coin just disappear completely, the only stake is decrease in demand.

But it come to my mind what if in some way it is possible to end the supply or cut it off, eliminating it??!!

Yes, friend, when a currency is created there is a high demand for it because investors analyze its potential and decide whether to invest or not, after some time if the currency loses value, sometimes those who direct the currency proceed to the burning of coins, the which is the process of permanently withdrawing the coins from circulation, reducing the total supply and thus obtaining a better price and trade of these again...

[RoyalHouse01 9]

 when the coin is in the blockchain there is no way to get it out of it I think not even a scriptwriter or the code writer can not do that if he is the owner of that coin too.

[Abuhassan 89]

There is what is called "coin burning" that gives the creator and miners the power to reduce the supply of coin and it will result to be unspendable and will reduce the rate of inflation.

[Rubayed123 991]

You are absolutely right mate. A coin can't just disappear from the market. As you can't just bring a coin in the market if you want. You can't even make a coin disappear if you want. 

[zhoutong 2188]

Start witht the study of Bitcoin first like all of us and ask questions later instead of asking without having the slightest idea how things work. First you take a lesson then you ask questions.

Edited December 10, 2020 by zhoutong

[KHALED ADWANI 1216]

Finishing the supply will actually happen.

Bitcoin will stand at 21 million coins and there will be no more after that.

It will take 120 years to complete.

I don't think we will be there to witness this great event. I think that history will be very important for future generations after that.

[mahdititus16 216]

i think is possible to do that but i will explain a lot to understand it brother , so just read my typing , Supply of any coin is all depend upon which type of platform you are using because some platform are using for mining but after withdraw time you cannot withdraw it means all coins are destroy. i hope i answer about what you asked brother , good luck for every one .

[abd1992 960]

On 3/11/2020 at 11:24 AM, teminalibug said:

I believe the supply if coins is the season when coins are generated either by mining or staking, then can not be be destroyed that is why crypto is not a scam and people don't have to worry about any coin just disappear completely, the only stake is decrease in demand.

But it come to my mind what if in some way it is possible to end the supply or cut it off, eliminating it??!!

It is certainly possible to destroy, burn or remove currencies that the owner wants to remove. There are also coins that may disappear or become without balance due to a programming error in the codes

[Guru2050 8284]

Let's make this clear enough bitcoin has a total supply volume at market we just have to wait for the exact period as everything related is automatically programmed, but possibly whales who hold the largest percentage of a given currency can alter the price of the coin at market