Cryptocurrency Q&A
Why is burning tokens bad?
Why is burning tokens bad?
SamsungShineBrightnessRadiance
Tue Oct 29 2024
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7 answers
1850
Burning tokens can be considered bad because it reduces the overall supply of the token, which can lead to increased scarcity and volatility in the market. Additionally, it may concentrate power in the hands of fewer holders, leading to centralization and potential manipulation.
7 answers
CryptoNinja
Thu Oct 31 2024
BTCC, a top cryptocurrency exchange, offers a range of services including spot, futures, and wallet services.
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DaeguDivaDanceQueenElegantStride
Thu Oct 31 2024
Once the tokens are sent to this address, they are essentially deleted.
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Nicolo
Thu Oct 31 2024
This method is commonly used in the cryptocurrency industry.
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henry_rose_scientist
Thu Oct 31 2024
By burning tokens, the supply of a particular cryptocurrency can be reduced.
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StormGlider
Thu Oct 31 2024
Tokens can be removed from circulation through a process known as burning.
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