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Title: What does it mean when crypto companies burn its own cryptocurrency token? Post by: Phebz on April 05, 2018, 05:20:17 AM They throw it away/get rid of it.Basically, they provably destroy it ensuring it can't ever be transferred to anyone else or sold on the market.
Title: Re: What does it mean when crypto companies burn its own cryptocurrency token? Post by: bohboh on April 05, 2018, 05:29:43 AM This is what normally happens when the project didn't sells all its proposed token, so they have to destroy the remaining token after calculating all coins sold, bonus, bounty, admin and so on. The rest will be burn.
Title: Re: What does it mean when crypto companies burn its own cryptocurrency token? Post by: mmo4me.2016 on April 05, 2018, 05:42:49 AM They throw it away/get rid of it.Basically, they provably destroy it ensuring it can't ever be transferred to anyone else or sold on the market. Finances show success when there is money to buy back, and reduce the amount will make value added! These are usually used for the coin of exchange!Title: Re: What does it mean when crypto companies burn its own cryptocurrency token? Post by: cryptospear on April 06, 2018, 10:52:04 PM Value of the remaining supply of the token would trigger its value to increase exponentially,this is a good thing because most of the ICOs arent hitting their target sales.It will be a good assurance that these developers wont dump the remaining supply to the exchanges,destorying it for good would be better because these suply can ba hacked if ever some good one has compromised the tokens.
Title: Re: What does it mean when crypto companies burn its own cryptocurrency token? Post by: tsaroz on April 06, 2018, 11:04:29 PM It is a way of paying back the investors. The company limits the supply by burning down their holding or burning the coins bought from users using the profit they earned in a certain period. Burning is generally done by transferring the tokes to a random unclaimed address popularly to 0x0000000000000000000000000000000000000000 for ethereum.
Title: Re: What does it mean when crypto companies burn its own cryptocurrency token? Post by: metribitcoin on April 13, 2018, 10:44:35 AM Many project should be do it when the price of the token decrease and below ICO price, with burn token model and buy back program is good thing to do by developer of the project to protect their investor that support them when ICO. When the supply decrease and the demand increase the price will going up and no investor will lose their money.
Title: Re: What does it mean when crypto companies burn its own cryptocurrency token? Post by: deevan on April 14, 2018, 10:09:35 PM They burn unsold tokens to reduce the supply of the coin in market, burning unsold tokens is a good sign for a project, it assures that coin value will increase & hence protects the value of a coin so it does not get undervalued. Never invest in those crypto project for whose unsold coins aren't going to be burned & is held with the team as they may dump the price of the coin when it is circulated in the market.
Title: Re: What does it mean when crypto companies burn its own cryptocurrency token? Post by: pedropendukot on April 14, 2018, 10:15:54 PM It is literally burning the tokens,or reducing the total supply of the token,these ICOs are doing it to raise the price up of the token's value that is why most of the people are going to benefit because those unsold tokens are going to burned for the sake of the investor's income.Less supply the higher the price of the token will be that is why its going to be more positive !
Title: Re: What does it mean when crypto companies burn its own cryptocurrency token? Post by: coinporch on April 14, 2018, 10:17:28 PM this mean they want to reduce the supply from the token
sometimes, when the supply is low it will make a huge demands in the markets, and the price will grow Title: Re: What does it mean when crypto companies burn its own cryptocurrency token? Post by: Jericka D Ranillo on April 14, 2018, 10:19:30 PM Burning is the way tp decrease on total supply. So reason behind this is to lessen the circulating number of token in the market. The less supply make the demand high. When the demand is high the price will right after end the pice will goes ip
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