BNB always Burn

[rahmat86]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

[serjent05]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

The burning of coins is to slow down coin inflation.  That way, it can help to stabilize prices and at the same time adds scarcity to the table.  It is a good strategy to increase the price of a coin especially when developer is actively developing new projects and innovation since more demand plus lesser coins equals a price surge. 

[asriloni]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

I guess it's not only to increase the price but CZ was aiming to decrease the circulating supply of BNB. There are lots of BNB owned by the users and CZ wants to make it to be 100 million BNB as the maximum supply that will be also on the circulating supply as well.
I think that CZ was saying about this when BNB already complete its ICO a few years ago.

CMIIW

[bandungan]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

the purpose of burning is not only to raise prices, but there are other factors such as maximizing the total supply, because a total supply that is too large is not good for a coin, besides that BNB already has a place in the hearts of crypto lovers so this can be a strong reason why BNB is brave burning coins

[TastyChillySauce00]

He's burning just to increase the over all value of BNB, in his recent tweet he said that BNB burning has the same effect as making an airdrop but it's more evenly distributed and what he mean is, the burning is done just for the sake of making the price go up therefore people indirectly got the benefit of increasing asset value evenly. If i remember correctly when first emergence BNB, Binance has proposed to allocate few percent they make to buy back BNB and then burn the BNB for the same purpose as well and I don't think there's another purpose in my opinion,
but maybe they have the plan to bring the circulating supply down to like ETH.

[Dr.Osh]

the increase is pretty good, on coinmarketcap, we can see the BNB price increase in the last 24 hours around 20%. When Binance burns, BNB price increases can be seen quickly. this led me back to holding BNB for a long time. I think there will be a lot of things that make BNB have such a high value at the moment.

[Fivestar4everMVP]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

I think the whatever their reason for the burn is, the end purpose is to increase the price of BNB, burning of coins is to reduce the supply, reduce inflation, cause more scarcity, attract more people to invest in the coin, create higher demand for the coin while supply is lowered, all this, the end result is higher price, so whatever could be cz reason for the burn, their target is to create more demand for the coin and with the lesser supply, the price will skyrocket, I did say binance is aiming to take the place of Ethereum in the crypto space as Ethereum has always been their major competitor.

[cryptomaniac_xxx]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

They are permanently doing this burning of BNB coins to keep inflation in check. Not just BNB but a lot of tokens is also practicing this, so this is not something special. And as you can see, it has some positive effect in the price as it has the possibility to increase obviously. And that's what investors love about BNB though and there are a lot of speculations that it could reach $1k because of this "burning".

[TeQuiero]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

You are misunderstanding about BNB. Burning is a specialty of BNB. It's burned on a quarterly basis until total of burned token reaches 100 million. Anyway, you're right that burning coins help BNB price stable or increase. Before burning time BNB price usually increases due to hype and decreases after burning news. People can use that to earn profit.

[cryptoaddictchie]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

Usually some company have their own roadmap and achievement and Binance already or earlier mentioned this during their launch that they will keep burning their coin not only to gain price but to maximize and balance the supply and demand of their token that has been used on their platform.

Inflation wise, this is a good move isn't it? Also knowing CZ, the ceo of the company he will be keeping his word until the end.

[ashmodeus]

because they already planned it since the creation of BNB , burn keep continue until 50% from total supply , have u read the Binance coin info from their site ?, they just creted the decentralized exchange on their own blockchain, that also included on the info.

[m2017]

How many coins will binance stop burning on? After all, they cannot do this indefinitely until there is nothing left. They must have some kind of limit. Don't you know this meaning?

[MrcMrc]

Price stability and increase are some of the major reasons coins are burnt from time to time, the binance team is working on the BNB coin circulating supply to keep inflation in check.

This has been the culture of many coins, most especially the stable coins.

[elda34b]

This has been the culture of many coins, most especially the stable coins.

The reason is quite different though. Stable coins needs to be burned because each of them is assumed to be backed by a real money (1 USDT = 1 USD). If there's no burn that means the team or anyone could print a lot of tokens without having any real money to back it up. That would be a disaster for the token, and they'll lose its function.

[Dexion]

The post-combustion increase at BNB has been pretty good in the last 24 hours, at 20%. There will be many investors holding on to BNB for a longer period of time as the chances of growth are getting higher seeing the effects of the burn take effect immediately.

[Roidz]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

The burning of coins is to slow down coin inflation.  That way, it can help to stabilize prices and at the same time adds scarcity to the table.  It is a good strategy to increase the price of a coin especially when developer is actively developing new projects and innovation since more demand plus lesser coins equals a price surge.  

token burning is almost the same as the stock buyback method used by many companies on the stock exchange and this is done with the aim of reducing the circulating supply in the market, this burning mechanism is often used by altcoin developers to control the amount in circulation in order to provide greater incentives to investors and This process involves the project developer buying back or removing the available currency from circulation by removing it from the supply, usually the tokens to be burned will be put in a public non-refundable wallet called eater anddres.
and Binance has committed to continue towards their token every three months, and is assuming to reach 100 million BNB tokens burned or 50% of the existing token supply.

[_IRMAN]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

The supply will continue to be burned until 50% of the supply runs out, this aims to affect the price of the token.

[bekti3]

Can anyone tell me why BNB keeps burning coins? Is the aim only to increase the BNB price or is there another purpose?

I guess it's not only to increase the price but CZ was aiming to decrease the circulating supply of BNB. There are lots of BNB owned by the users and CZ wants to make it to be 100 million BNB as the maximum supply that will be also on the circulating supply as well.
I think that CZ was saying about this when BNB already complete its ICO a few years ago.

CMIIW

Besides that every year the burning of BNB takes place, at least how the holders prioritize saving in the long term. without sacrificing their BNB. whether it will be an obstacle to the combustion process. This is just an assumption, even though the number of BNB holders does not always allow the price to go up without taking advantage.

[hoka90]

In my opinion, the purpose of BNB for burning coins is to help reduce the inflation rate so that the supply of BNB is reduced in the market. A reduced supply, combined with a stable or rising demand against BNB, is likely to increase prices.

[passwordnow]

AFAIK, it's part of their whitepaper and have read it through Cointelegraph that it's a "repurchasing plan". They will buy using their profits and those BNB that they've bought, they'll put it into burning.
Cointelegraph: Binance Updates White Paper to Reword Section on Quarterly Manipulations with BNB
This means that they're going to burn up to 50% of BNB's supply.