Bitcoin Forum

You know, when you send some coins into nirvana, they're lost forever - decreasing the supply of said token/coin. Have you ever deliberately burned some of your coins or tokens? What coin was it and why did you do it?

 What are token burns? Coin burns are, to some extent, similar to share buybacks used in the traditional corporate world. Simply put, listed companies buy back their shares from the market, which in most cases results in the shares' price appreciation as those shares are removed from the circulating supply.

I think there are some shitcoins lying in wallet of all of us. I have seen many services where people can transfer those coins to some specific address thereby making their own wallet seemingly clean. But what do you mean by burning? How could a third party burn a coin/ token. I dont think thats possible without tweaking the smart contract

I've done it a few times before to clean my wallet out of worthless airdrop tokens, it's just annoying for me to have token that has no value in the wallet so  i send it it burn address. Other than that i see no reason to burn your token unless you are a dev and want to reduce the overall supply of the token itself.

No, i have never burn my token before, countless of shitcoin are sent to my wallet but i am not bothered by those, if you send them or leave it, it won't affect your wallet. By the time you decide to send them back to smart contract/burn (like you said) you are wasting your precious gas mere doing that. It is better to leave them in as much there is no advantage in burning them so to speak.

I don't think investors or bounty hunters burn their tokens. Even if that's a scam token you have to pay fee for burning and it doesn't worth it.
Developers might burn tokens to decrease the total supply.

although in fact I have some shit coin in my wallet and it is the result of airdrops I actually want to eat the coin but I do not know how to burn the coin

I didn't do that. :(
But I have a lot of wallet addresses forgotten, and there are some altcoin in it, which makes me feel sorry.

am i the only one who's really not annoyed with those shit tokens in my wallet? its funny but somehow i'm still expecting that someday it would have a value even a cents. so i'm just gonna keep those shitty stuff in my wallet, and i earn some of those from airdrops that i don't really know what happened.

I haven't, there was no reason to burn my token. It's the same as burning my money to the nirvana. I have tried to send shit token to the default address and i just try to do that to erase these shit tokens from my wallet because it makes my wallet so ugly dude. As far as i know when you are sending your coin to the default address and it will not decrease the circulating supply and it will be useless,

Why would I do that? I am hacked three times. But I never burned coins on my own. It is ridiculous. I am here to earn money, not burn money.

I've never burned coins or tokens. I don't even know what that means. Can anyone explain? Lol

As far as I know it's basically when you send a large amount of transactions to just eat them up in fees or soemthing so the remaining tokens can never be used, but I could be wrong. Anyways I leave it to the experts!

Nope, I have not done it yet mostly because I own tokens that I am interested in. On the other hand, if the project would be unsuccessful, I have no problem to send them away and burn them forever: I do not need tokens that are just trying to fill the space in my wallet ;D. Yeah, I would pay fees for that transactions. I have totally no problem with that. It is worth to get rid out of worthless coins. In my opinion, just as you know how much money do you have in your wallet, you should know what is in your crypto wallet as well and be disciplined here, just like in every other area of our lives.

I have never specifically sent a coin to nirvana. And I would never send my coins, but if a big player sends, thus reducing the amount and pinching the price I would gladly revisited

I haven't burned any tokens or coins so far. To be honest, I didn't even know there was such a way to burn coins. Interesting information.

What is nirvana and what is their wallet address? please specify all the details, i have few junk, spam or valueless tokens in my wallet but then again if i try to burn them i still have to pay the gas prices myself so i think it will not be worth.

Yes, I'm collecting tokens now, since I believe that you can make a profit precisely because of the tokens of new projects, since these are the most promising coins at the moment...

 ::) Lol never ever, i am a poor person i am here to become rich haha.  ;) i have no intention to do this kinda nirvana things. lol so funny.

No, I have not done this ever. There are always some unwanted coins in all wallet. So as I also have some. But I didn't feel to burn it because I have no time to spend behind them. :o :o

I've heard that ERC20 tokens are burned by sending them to a zero wallet. At least this is what project teams do after the ICO is completed - they burn all unsold tokens.

I try to accumulate more coins to sell everything at a stock exchange at a good price, since the profit that I can get after selling these coins depends on it

I have not proper knowledge on it. And i didn't face it before. What are you taking about?

I've never burned a token. I don't even know how to do it, and to be honest, it didn't worry me.
To list tokens to a random purse is also a bad idea. You pay Gas.
And the cost of the commission can be much more than the shit that the scammers sent you, or just an unsuccessful investment, or a useless airdrop. If it was free, then maybe some would be interested. I don't know.

No I never burned any coined but this coin is helpful for me and this bitcoin is increasing nowadays so it’s a great news for all of us and the main thing is this orice may double after few days later and this crypto currency will lead this world and this will change the buying format so it’s great news. About these problems I think bitcoin developers must think this.

No i can’t do anything like this. Some peoples are burn coin firstly i knew something like this. How immature people they are!

We all have few of those coins which just gets burned. That's why for a couple of months, I have started investing in the coins that are more secured and trustworthy. Otherwise, you only incur loss from this coins.

I have nothing to lose if I continue to hold an specific coin. I will not burned it because I still believe that it can have value in the long run. Collecting tokens is pretty cool for me though I don't have much coin right now I still want to  hold.


You burned the opportunity buddy, its sad but its ok. Try to secure your wallet this time :)

I did not fully understand.  Burn vsmysle keep in a purse until they depreciate ???

No, I haven’t burn any coin on my own. For those coins that was airdropped to my wallet for nothing, I will just leave it in my wallet. There is no point sending coins away and pay transaction fees for that.