Bitcoin Forum

FUN is burning tokens tomorrow, October 18th. They will be burning 6 Billion coins from the total supply. At current price that's an easy 3x minimum but I see 5 or 6x possible. Get in while you can. Bittrex has the highest volume. Don't say I didn't warn you.

you got any source to this info ?

Here's the dev update:

https://funfair.io/funfair-company-update-16th-october-2017/

"We’re allocating 55%, the majority of the 11.173B tokens, to be burned. This equates to 6.173B tokens that will all be burned on October 18th (now we are clear of the Metropolis’ Byzantium hard fork) at 3pm GMT (4pm British Summer Time).

Burning tokens has the effect of taking them out of issuance. They will never become circulating tokens and so every other token holder benefits proportionally due to additional scarcity."

Burning coins is nice way to get depth to your coin and healthy markets.
But it shouldn't be popular man. I makes me think "why did they ever release this much coin if they were gonna burn?"

And so? what's next from the funfair? The price just get another flash increase and this time another dip to the fun fair has come? But i don't think so if that could be possible in the future.
A short hype.

Why the price don't increase because of the burn?
I don't understand it will be tomorow..

I agree with you. It is a way, for the developers, to rise the value of their coin and make heavy profit of it and then the coin will fall back. It is a special manner to pump and dump

Funfair will rise next year...

Thanks for the heads up. Exciting news for sure :) This will definitely give the price a nice boost,

Thanks it seems that is true and would be beneficial if you buy funfair now. It will definetely rise as they burn lots of token.

Well they just hired a guy who used to work for William Hill and grew that business which is a nice plus as they have quality people on board.

Their prototype also works and you can try it on the site.

They also state the reason why they are burning the coins in the update.

It should burn more to give the price more boost.

Interesting. I don't normally buy into coins before they burn, but this coin has actually been on my radar for a bit -- Now might be the logical time to pick some up.

Thank you for the information.

Buy the rumors sell the news ;)

After a burn - does the value of the coin go up immediately or what's the usual process in anticipation of a burn? Never experienced one before.

Burning coins seems the latest fad :-)  Flik coin is burning 90% of its coins this month too.

They're burning/have burnt about 30% of all coins, coins which were not already sold so I don't see the connection between that and a 3-4x rise, logically you would think at best a 33% increase in price would occur, which is about what happened unless I am mistaken.

depends on how the market will react and if the project got a real supports sometimes instead of hyping the price the whales that got a lots of baghold
will just dumped what they have and start shaking the market so its much better to observed before jumping to this, burning coins is good for a project
that will show updates.

They will burn from total supply which is around 17 billion while circulating supply is 4 billion. I don't think it would affect the price as much. risky

Burning is ok if it helps to keep the value stable and so the project alive. If it does nothing but fall beause of whales and markets dumping (like bittrex dumped 15% of all alt coins before the current crash), then small investors and supports will leave the project...

Substratum for instance is a great project that will help society and freedom of speech in many ways decentralizing web content.. and they are burning tokens eventually, that will help the price being stable and so the holders and the nodes (wich are common people like you and me) carrying on with the bad trends, the whales, the fud, etc..

Yeah all the same developers huh? Nothing new here, its been like that since the inception of alts.

It will be probably easy and good option for big profit with low with a small cash deposit. Very good options for new users and people who want try earn some money from coins

For those not following FunFair this burn does not appear to be an attempt to jump on the recent fad. They have been attempting to find a fair distribution solution for a while, one that would not devalue current tokens, with the possibility of giving current holders additional tokens. These discussions went on for a couple months before FunFair finally decided they would do an Asia tour with a second ICO directed towards Asian countries. Unfortunately, the Chinese crackdown on ICO's put an end to this plan, and as a result there hasn't been an obvious solution for the last month. It seems that this burn is an attempt to remove the extra tokens from play simply because there has not been a mutually agreeable solution to their distribution. That said, I wouldn't be surprised if the burn is already priced in and FunFair doesn't see a huge pump.

Has the price risen after the burning?