Cryptocurrency Q&A
Why do you burn coins?
Why do you burn coins?
BonsaiVitality
Sun Nov 03 2024
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7 answers
1389
I heard about a strange tradition where people burn coins. It seems odd to destroy money, so I'm curious to know the reason behind this practice. Why do people engage in this activity of burning coins?
7 answers
Andrea
Mon Nov 04 2024
When the demand for a token exceeds its supply, its value can potentially increase.
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GeishaWhisper
Mon Nov 04 2024
Burning tokens serves a specific purpose in the world of cryptocurrencies.
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DigitalWarrior
Mon Nov 04 2024
Over time, this imbalance could lead to a higher valuation of the token.
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DigitalCoinDreamer
Mon Nov 04 2024
It's important to note that this outcome is not guaranteed.
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BitcoinBaroness
Mon Nov 04 2024
Its primary goal is to create a scenario where the tokens become scarce.
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