Cryptocurrency Q&A
Who burns bitcoins?
Who burns bitcoins?
Sara
Wed Nov 27 2024
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7 answers
1789
I heard about bitcoins being burned and I'm curious to know who exactly is doing this. Is it individuals, companies, or maybe even governments? And why would they choose to burn bitcoins in the first place?
7 answers
PulseWind
Fri Nov 29 2024
Miners engage in the process of burning coins by sending them to a designated burner address.
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SumoMighty
Fri Nov 29 2024
The act of burning coins does not entail a significant consumption of resources.
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SapphireRider
Fri Nov 29 2024
The only resource utilized in this process is the energy required to mine the coins prior to burning them.
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GangnamGlitzGlamourGloryDays
Thu Nov 28 2024
The specific implementation determines the type of currency that can be burned.
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Carlo
Thu Nov 28 2024
In some cases, miners are allowed to burn the native currency of the blockchain.
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