Ok so a lot of debate around the value of burn on crypto.
Pro arguments I have heard
One of the pro arguments is a lower supply leads to higher prices and for some this s king. Also, higher prices drive interest towards the coin and therefore offset the damage of lower liquidity
Conarguments I have heard
It's a cheap tool to make up for piss poor planning in supply and demand. The other one I have heard is that it will lower the amount in peoples hands which means the usefulness and adoption goes down.
So what's your take?*
Come on you are all much smarter than me, should we burn a finite crypto?
LOL, couldn't agree more.
I'll leave this here: https://www.proofofbrain.io/hive-150329/@calumam/burning-the-evidence
Some may remember the community input from POB token burning. My opinion, if people are burning VYB, they don't see the long-term benefits of wider distribution and increased diversity in crowd wisdom via PoB.
What I'd recommend and will look to propose during the Community Standards discussions?
Haha I think that might be the post I was remembering!
It’s great. They should burn more. Make VYB more scarce … like gold.
It's paradoxical when you truly consider it.
What's better.. less VYB overall (we've already set a limit of 21 million, why not just set it at 100K and be done with it?), or more VYB in more wallets which would result in a greater range in diversity via voting (which should bolster PoB and increase the crowd wisdom potential).
Yeah, just burn all but 1 VYB token, and that 1 will eventually be worth millions, maybe billions, right?
this one gets it!
I wouldn’t go that far. But less is always more.
They should burn all the Blurt except the blurt that is already powered up. Make it more valuable this way. Just have a total VYB of like 1 Million max.
Just a wild thought, What if had VYB Started with burn of 2.1 Million Tokens instead of issuing it. Wouldn't that be interesting?? 🙄😀. !LOL
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As I've stated before:
To burn or not to burn ... I say don't burn crypto (or bridges or witches, maybe ducks are okay)
If...she...weighs the same as a duck......she's made of wood. and therefore...
Putting tokens into a Liquidity Pool essentially takes them out of circulation, yet increases market liquidity.
Burning tokens takes them out of circulation, but decreases market liquidity.
A lack of market liquidity makes it hard for investors to get into and out of their positions, which discourages them from getting into that asset in the first place.
Ok so what about a liquid pool posts? All vyb goes into a tribal dex pool for vyb hive from an account owned by you never to be removed? Then anyone who wants to run a burn pool can send it to that account?
Mhh reading the comments it is hard to argue for burning. I think it is true that burning a crypto is kind of a sign that you don't know anything better to do with the crypto to help the community.
When I am in a project I sure like to see some burn, mostly to balance out inflation but with a finite supply and potentially infinite burning you might run into some problems long term. Depending on how many decimals VYB has it does not matter much if we have 21 Mil in circulation or only 100 I would argue though.
On the individual level I think burning makes sense, you like the project, you have a lot of Tokens, you burn some to increase scarcity.
Just wanted to bring up some points for the burning site but I can see that it is an overused and simple tool.
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