Burning an asset means less in circulation. If the inflation were say, 1%, you could simply burn 1% at whatever rate that 1% was, and the supply would remain the same and not "inflate." It's a great counter measure to inflation for those who seek to rise the value of an asset long-term. To non-crypto people, it's basically like saying for every bit of currency your country recklessly and wildly produces to inflate it, you burn every single bit of that existing currency so that the overall supply is exactly as it was. Burning has been a very interesting and IMO, positive aspect of the crypto world. It gives the holders and traders the option to lessen the supply, much like we all have in the "real world" (non-tech, physical) but it actually focuses your attention to thinking about it and what it entails. I say burn more than is produced, that means the supply drops over time and then the value (In theory anyhow) rises because there's less to be spread around thus making each portion/fraction worth more. Burning is a win in my book. :P
I commented above, but I'd also like to take the time to appreciate how incredibly ludicrous and respectable @alpha's stake is. Holy shit! :O Now that's some true blockchain power. lol!
Why are they burned if I may ask please??
It is a means to reduce inflation if you so choose to do so.
^ That part.
Burning an asset means less in circulation. If the inflation were say, 1%, you could simply burn 1% at whatever rate that 1% was, and the supply would remain the same and not "inflate." It's a great counter measure to inflation for those who seek to rise the value of an asset long-term. To non-crypto people, it's basically like saying for every bit of currency your country recklessly and wildly produces to inflate it, you burn every single bit of that existing currency so that the overall supply is exactly as it was. Burning has been a very interesting and IMO, positive aspect of the crypto world. It gives the holders and traders the option to lessen the supply, much like we all have in the "real world" (non-tech, physical) but it actually focuses your attention to thinking about it and what it entails. I say burn more than is produced, that means the supply drops over time and then the value (In theory anyhow) rises because there's less to be spread around thus making each portion/fraction worth more. Burning is a win in my book. :P
Nice said friend thanks for coming around
I was also want to know this thanks @hiveinvest
Okay
Can't have double inflation eating us up...
What do you mean by double inflation?
Oh, I meant inflation on dollar and as you stated, burning is to prevent inflation, so hive inflation...
Double inflation
Haha, nice point of view. I like it! :-)
Okay then. Thanks for your explanation
I commented above, but I'd also like to take the time to appreciate how incredibly ludicrous and respectable @alpha's stake is. Holy shit! :O Now that's some true blockchain power. lol!
very terrible
What is?
Nothing.just impressed
Todo eso a que se debe?