Burning is really starting to look like a very good option at the moment, even if it's a certain percentage quarterly
yeah. it does look a very good way to increase the values of the token we had now at trade. but it also be great to add to the pool for inodes thing as im not very familiar with mining. guess i can learn to do it now. im also glad to see the trade at etherdelta are increase now. hope it will gain some pick up this week.
Well, you could always burn a certain amount monthly or quarterly, effectively eliminating it from circulation. QTUM uses the same mechanism and it has driven prices through the roof
Coin burning is actually called proof of burn. Proof of burn is a protocol used by various altcoins to reduce the current available supply, whereby a specific portion of coins in circulation is sent to a wallet no one has access to (This is mainly used in ICOs). This eliminates these coins from being spendable, although they will remain to be a part of all of the existing coins ever to be generated. Proof of Burn transactions are also recorded on that cryptocurrency’s blockchain, providing proof that the coins would never be used to transact again. Sometimes, devs create a new coin/token/project and use the old/existing coins/tokens. People who possess old coins/tokens can get the newly created coins/tokens by this method. If there are some old tokens/coins left out, dev can burn them to reduce the inflation or to quote the exact available coins or to clean up the old ones all the way.
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