BOOM - First Self-Burning Cryptocurrency Based on Smart Contract

[janak3]

Burning the coins will defiantly reduce the coin in circulation but this will only increase price of BOOM if they were in top 100 coins or in other word the coin has some value otherwise reduce in supply wont be of much use. In a year or two things will be more clear.

[1715100671]

1715100671

[1715100671]

1715100671

[WinterCns]

One need to be careful while he invest in any new coin.  BOOM is doing good on exchanges and listed on many exchanges. So it passes one filter of being a coin for HODLing. After this bullish season is over we may see people coming and investing in this coin.

[nesfe]

BOOM is a social experiment which aims to explore the market influence of an extremely deflationary cryptocurrency. There are many questions being asked by crypto community about these coins and BOOM team has a very short time to answer these questions.

[stomachgrowls]

One need to be careful while he invest in any new coin.  BOOM is doing good on exchanges and listed on many exchanges. So it passes one filter of being a coin for HODLing. After this bullish season is over we may see people coming and investing in this coin.

Having listed on several exchange or does have pairs doesnt signify that theyre already considered good.
Take a look on where this BOOM listed out and the volume of exchanges where its been listed.

MXC.COM   24 hours volume - $6,290
BitMart    24 hours volume- $2,392
CITEX $0.234757

Do these figures are quite appealing? This coin in no doubt will die soon.I have checked out on what this coin is all about.
I do observe that it do really decreases out when people do make out transactions.Basing of on entire supply
then it might take a while for it to be scarce but with this kind of concept then you would really be expecting for
people to hold.
 

[fia_naila]

My question is, why using burn concept ? Why not incentivize the network or redistributed it to holder. Burn concept is not always the best way to lift the price up. If tou want to scale up you need a lot of coin. Instead burning it better to incentivize the holder.

[nesfe]

One need to be careful while he invest in any new coin.  BOOM is doing good on exchanges and listed on many exchanges. So it passes one filter of being a coin for HODLing. After this bullish season is over we may see people coming and investing in this coin.

Having listed on several exchange or does have pairs doesnt signify that theyre already considered good.
Take a look on where this BOOM listed out and the volume of exchanges where its been listed.

MXC.COM   24 hours volume - $6,290
BitMart    24 hours volume- $2,392
CITEX $0.234757

Do these figures are quite appealing? This coin in no doubt will die soon.I have checked out on what this coin is all about.
I do observe that it do really decreases out when people do make out transactions.Basing of on entire supply
then it might take a while for it to be scarce but with this kind of concept then you would really be expecting for
people to hold.
 

If you look at statistics of BOOM at CMC https://coinmarketcap.com/currencies/boom/ , in last 24 hours BOOM volume was $10,936.95 USD while on previous day it was around 6k USD. These stats are not bad for a coin thats in its early stages of launch. Give boom some time before we make some final conclusion about this coin.

[DEEPW3B]

So, one day all the boom will be burned and we will have no Boom? Or am i wrong lol?

[gamer4156]

The token obviously says it will consume the token, the person who is as yet intrigued ought to partake others should cruise by. Be that as it may, calling it by and large a trick is outlandish thing. The individuals who can purchase and HODL altcoins at momentum cost will have the option to pick up most extreme benefit during alt coin season.

[irixo10]

The reduction in supply always lead to more increase in price, that's the main idea of Burning a token. Also, most projects have different forms of token burning, wherein a purchase in their product leads to token burn, at the long run reducing the supply, in the case of others,  the team will set out a time to buy back and burn their token. Nevertheless, what I have come to understand is, without no good use case, without appropriate working product token burning is just waste of time, at least there are many project in that category, that no matter how much of their token the team burn, the price is still struggling.
However, my humble opinion is, the team should put in more effort towards adding value to their products such that, the token burn will lead to more increase in price.

[pinko5]

The reduction in supply always lead to more increase in price, that's the main idea of Burning a token. Also, most projects have different forms of token burning, wherein a purchase in their product leads to token burn, at the long run reducing the supply, in the case of others,  the team will set out a time to buy back and burn their token. Nevertheless, what I have come to understand is, without no good use case, without appropriate working product token burning is just waste of time, at least there are many project in that category, that no matter how much of their token the team burn, the price is still struggling.
However, my humble opinion is, the team should put in more effort towards adding value to their products such that, the token burn will lead to more increase in price.

Until now there team must have got this message that if they want to get success in the long run then they must introduce some kind of utility to there token. Utility along with deflation will be a great combination.

[azadm1]

The idea is great, perhaps its one of the important factor of economy i.e. decrease in supply results in increase in price. BOOM need to work a little hard to establish its price first before it supply goes down to significant level.

[XinZang]

Crypto never stops coming up with innovations and new ideas. Security token, stable coins or deflationary tokens are all part of crypto innovations. We dont know what else is coming in crypto but so far its a journey full of success for all these tokens.

[Bigerio]

I am a bit surprised that why these deflationary coins are not able to join current bull run. There time is still to come and they are still undervalued in terms of price. Investing your spare money in these deflationary coins wont be that much risky.

[janak3]

Many people want coins that have real world use cases or in other words they have some sort of utility. BOOM along with other coins is badly missing this point. The team should focus on this aspect ASAP.

[Wingsbtc]

If all this project have to offer is the self destructiveness then it's not a reliable crypto project, this isn't the first time I will see a project with such use case, this shouldn't be called a real use case but a feature, any project that depends on such will never be successful

[janak3]

If all this project have to offer is the self destructiveness then it's not a reliable crypto project, this isn't the first time I will see a project with such use case, this shouldn't be called a real use case but a feature, any project that depends on such will never be successful

Its too early to say whether deflationary coins will fail or successful in the long run. They are very new in the market compared to other coins. There use case is yet to come and once they announce any utility associated with each project we can then evaluate these coins.

[langoot]

Still no sign of bullish trend seen in BOOM trajectory. I dont know why this volatile token is not joining the bullish run. Some expert many throw light on this aspect please?

[KngrKhna]

There is one to one relationship b/w supply and demand. BOOM has addressed one aspect i.e. supply. In order to make it a successful coin it should also have huge demand. Else BOOM token will keep on burning with time and nothing will happen to price.

[pinko5]

Lot of debate is going on about BOOM and other deflationary coins value. Its true that right now these deflationary coins have no value because there is no real world use case associated with these coins. If they can introduce some use cases with coin then there is fair chance that these coins can go up.

[imstillthebest]

Lot of debate is going on about BOOM and other deflationary coins value. Its true that right now these deflationary coins have no value because there is no real world use case associated with these coins. If they can introduce some use cases with coin then there is fair chance that these coins can go up.

boom is already listed on bitmart exchange and it has a value around 0.0000000541 btc or 0.00174USD .

booms use case is both for paying and investing , both because you need to use it for paying first for its ability to trigger ( the self burn ) and once it triggers its value can increase .

the more paying transaction you do the more the token increases and if its value rises thats the time we can hold it for investment cases but boom is also an experimental token , if this token suceeds or if it has some failure they can re-create and improve this again