Bitcoin Forum
May 06, 2024, 10:31:49 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Distinguishing Between Bitcoin Halving And Crypto Burn  (Read 270 times)
DapanasFruit
Member
**
Offline Offline

Activity: 1218
Merit: 49

Binance #Smart World Global Token


View Profile
November 12, 2023, 03:22:27 AM
 #21



When I started wading into Bitcoin and cryptocurrency, mining and burning are two of the most popular terms and there is no confusion on my mind what are these things and they are not the same nor are they interchangeable. Burning is making less of the coin or token supply while halving refers to the mining rewards which in every four years will be lessened by 50% hence the halving term. Interestingly, both burning and halving can have positive effects on the platform doing it...and in the case of BTC can be the trigger for another big bull run to possibly reach the peak in 2024 or even 2025.

╓                                        SWG.io  ⁞ Pre-Sale is LIVE at $0.13                                        ╖
║         〘 Available On BINANCE 〙•〘 ◊ ICOHOLDER ⁞ 4.45 〙•〘 ✅ Certik Audited 〙        ║
╙                  ›››››››››››››››››››››››››››››› BUY  NOW ‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹                  ╜
1715034709
Hero Member
*
Offline Offline

Posts: 1715034709

View Profile Personal Message (Offline)

Ignore
1715034709
Reply with quote  #2

1715034709
Report to moderator
If you see garbage posts (off-topic, trolling, spam, no point, etc.), use the "report to moderator" links. All reports are investigated, though you will rarely be contacted about your reports.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715034709
Hero Member
*
Offline Offline

Posts: 1715034709

View Profile Personal Message (Offline)

Ignore
1715034709
Reply with quote  #2

1715034709
Report to moderator
coinremitter
Jr. Member
*
Offline Offline

Activity: 215
Merit: 1


View Profile
November 20, 2023, 11:57:57 AM
 #22

Great breakdown! It's crucial for newcomers to understand the distinction between Bitcoin halving and crypto burning. Your clear explanation highlights the key differences: halving reduces new supply, while burning decreases the existing supply.

The automated nature of Bitcoin halving every 210,000 blocks versus intentional burning by developers is a crucial point. Both mechanisms aim to create scarcity, a factor often linked to potential price increases. It's fascinating how these strategies align with the broader goal of scarcity in the crypto space.

For those grasping this concept early, it provides valuable insight into how these mechanisms impact the economics of specific cryptocurrencies. Your post serves as a helpful guide for those navigating the complexities of the crypto world. Well done!
hd49728
Legendary
*
Offline Offline

Activity: 2086
Merit: 1028



View Profile WWW
November 20, 2023, 12:02:44 PM
 #23

Great breakdown! It's crucial for newcomers to understand the distinction between Bitcoin halving and crypto burning. Your clear explanation highlights the key differences: halving reduces new supply, while burning decreases the existing supply.
It would be a serious misunderstanding if anyone think halving and burning are the same. Halving is for block reward and will affect future (new) supply. Burning will affect existing and circulating supply by sending coin or token to a burn address and burn it.

Burning is popular with altcoins because they usually are created with very high total supply. Then their developers decide to do like Buy back and burn to reduce total supply in order to make investors feel their coins become more valuable with lower total supply. In fact it does not change much because value of a token depends on its use cases and utility, not only by buy back and burn.

.freebitcoin.       ▄▄▄█▀▀██▄▄▄
   ▄▄██████▄▄█  █▀▀█▄▄
  ███  █▀▀███████▄▄██▀
   ▀▀▀██▄▄█  ████▀▀  ▄██
▄███▄▄  ▀▀▀▀▀▀▀  ▄▄██████
██▀▀█████▄     ▄██▀█ ▀▀██
██▄▄███▀▀██   ███▀ ▄▄  ▀█
███████▄▄███ ███▄▄ ▀▀▄  █
██▀▀████████ █████  █▀▄██
 █▄▄████████ █████   ███
  ▀████  ███ ████▄▄███▀
     ▀▀████   ████▀▀
BITCOIN
DICE
EVENT
BETTING
WIN A LAMBO !

.
            ▄▄▄▄▄▄▄▄▄▄███████████▄▄▄▄▄
▄▄▄▄▄██████████████████████████████████▄▄▄▄
▀██████████████████████████████████████████████▄▄▄
▄▄████▄█████▄████████████████████████████▄█████▄████▄▄
▀████████▀▀▀████████████████████████████████▀▀▀██████████▄
  ▀▀▀████▄▄▄███████████████████████████████▄▄▄██████████
       ▀█████▀  ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  ▀█████▀▀▀▀▀▀▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.PLAY NOW.
panganib999
Hero Member
*****
Offline Offline

Activity: 1736
Merit: 589


View Profile WWW
December 04, 2023, 01:09:49 PM
 #24

Really important distinction here. Cause some newbies are out there thinking that the halving is going to automatically make all their bitcoin holdings very valuable by dividing the whole supply in half, which in itself is already contradicting from the fact that the bitcoin supply is supposed to be immutable. I've been in the same boat of misinformation in my first year of stay in the crypto world too, and the only thing that I regret, is that no one's able to inform me or everyone who's not much aware of what the halving really entails.

Good job on you and I wish more people are this generous with information to newbies, don't get me wrong, we're all as generous as possible here but I feel like sometimes our efforts are invested elsewhere with all these topics and stuff, when important talks like these aren't given that much notice.
Silberman
Legendary
*
Offline Offline

Activity: 2506
Merit: 1334


View Profile
December 05, 2023, 08:24:58 AM
 #25

Really important distinction here. Cause some newbies are out there thinking that the halving is going to automatically make all their bitcoin holdings very valuable by dividing the whole supply in half, which in itself is already contradicting from the fact that the bitcoin supply is supposed to be immutable. I've been in the same boat of misinformation in my first year of stay in the crypto world too, and the only thing that I regret, is that no one's able to inform me or everyone who's not much aware of what the halving really entails.

Good job on you and I wish more people are this generous with information to newbies, don't get me wrong, we're all as generous as possible here but I feel like sometimes our efforts are invested elsewhere with all these topics and stuff, when important talks like these aren't given that much notice.
While sometimes the terminology used on this market can be confusing, this can be solved relatively quickly if those that are interested in learning more about the market actually went through the trouble to look for that information by themselves and find out the truth, however they rely on what they read on social media and there are many people out there spreading misinformation about the inner workings of this market, so it is not that surprising that something as simple as what it is exposed on the OP is not understood by them.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!