XLM Burn Increased Coin’s Centralization, Argues Charlie Lee

[dark08]

After a lot of airdrop now xlm make a move to burn 55billions supply this is huge amount of supply but take a look at the current price its going back to 0.06 because bitcoin suffer from the hard dump and most altcoin like xlm follow its direction.

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[albrots]

XLM is currently being discussed because they are burning half of the supply, which is around 55 billion. This is a crazy step taken by the CEO of XLM. However, the burning of XLM supply aims to raise the price of XLM, the less token supply, the more demand, so the price will automatically get higher. XLM has also done a massive airdrop first by Blockchain.com and the second through Keybase. This proves that XLM is really serious about developing XLM even better.

[pawanjain]

Yes, it's kind of obvious that the Centralization would increase if Lee is holding a part of the supply.
When there were more number of coins, it meant that the distribution of coins would be more and hence the centralization power would be comparatively less.
But now since the coins are burned, the supply is decreased meaning less number of coins would be distributed leading to more centralization power.

[vanya.pronin.1983]

I am holding XLM and I was pretty glad to hear about the token burn. Not any coin decides to do this step and it was necessary in my opinion, because the total supply was too big, and honestly I do not get how it should increase the centralisation level.

[el kaka22]

To be perfectly honest about this subject unless XLM burned down their own currency (the team) that means they actually increased their control for sure.

There are 3 ways of of tokens, one is the team owning it, the other is everyone else, the third is usually not mined or not shared basically staying still waiting to come out and if you burn from that and remove it from the market that means there are less lumens available for people to mine and get and that of course increases the centralization of the team because they will have more of it.

Just because you guys made money from the burn doesn't mean you should support it, and even if you want to support it we all know that in the end you will realize it was a big mistake because teams do turn evil whenever they get richer.

[X-ray]

But I love how Stellar distributes the coins among users. They created 2 biggest airdrops in the history. One was managed by Blockchain.com and second one is managed by Keybase. Every participant of these 2 airdrops earned aeound 75USD in total. Good way how to distribute coins equally among users plus users are very thankful for this opportunity.

Well the downside is the immediate dump after the coin is distributed and to cover that they need to burn. The airdrop is indeed rewarding unlike any other out there however I always wonder how they could just outright did a massive aidrop like that. Maybe the answer is because they already build a community that generates a lot of demand or they have some kind of buy back method after aidrop which is not logical in term of business perspective. To be honest, the increase of XLM centralization is out of my concern at this point.