Steemit Crypto Academy Contest / S5W4 - Token Burn ||Who, where, when, how, why tokens are burned.
Hello Friends ! What's up everyone ? Welcome to my ''Today's Important Post'' |
|---|
You may have heard it in different places. Many YouTubers make such videos. Or your friends would tell you that this token is going to be bran. The price of this token will increase a lot. There will be good profit. This token will increase by 2 times etc we hear a lot....!
Dear reader what do you know? Why is this Token Bran system done? Where is it done? How is it done? My post today is written about all these matter . Hope to read your post.
What is the Token Brun
What is the Token Brun
Bran is an English word that literally means to burn. In the crypto market, when a portion of the total supply of a token is sent to a dead wallet after a few days. A dead wallet is a wallet in which tokens are destroyed. And this token never circulates again. As a result, the number of tokens decreases and the market value of the token increases.
When Token Burn is done.
When Token Burn is done.
Token Demand has a special relationship with Token Bran. We know that the higher the demand for tokens. Its market value is higher. And the token which has high demand gives good profit very quickly. What is the reason for this? We know that the things that are in high demand are more expensive. When demand for a token decreases. Then the token prize also decreased. We might think that this is when tokens are Burn. But no Token Bran is done just when the demand for the token is very good. And burning tokens during this time increases the value of his tokens very quickly. In this case it can be seen that the demand of Token plays an important role in increasing the price of the token. And Burn Token helps there.
Where is Token Burn done?
Where is Token Burn done?
Companies that brand their tokens. All those companies have such a wallet. Where the branded tokens are sent. And no one knows the password of that wallet. And since then the tokens are never returned. This wallet is called a dead wallet. There is usually no password. As a result, the tokens cannot be returned to the market. So they become bran there.
Brief discussion on Burnsteem25
Brief discussion on Burnsteem25
As we know for each token the Bran plays an important role. Same is the case with Steemit. You know that Bran usually keeps company. But have you ever wondered why users are doing Steem Burns on steem ? Why is the company recommending users to bran? We know that each token has a fixed supply. But I have noticed something different in the case of Steemit. Users are constantly earning this steem. As a result, the number of Steem tokens in the market is increasing day by day. And the price of Steem is coming down. Since there is no limit to the supply, the company is advising users to bransteem25 . Let's find out how burnsteem25 will help to rent the value of the token.
As we all know Bitcoin is down by a huge amount. As a result, the value of every token, including Steem, has dropped significantly. When a token's value reaches 0. Then other exchange sides including Binance delist the token from their platform. Burnsteem25 will play an active role in protecting Steem from this Delist.
Burnteam25 will definitely play an important role in keeping up with the demand of Steem.
Burnsteem25 will play a special role in increasing the prize of Steem.
My personal opinion :
My personal opinion :
Not everyone makes steem buns by themselves like this. If this steam is sent to a specific account of the company. And if the company burns those steems together for a few days, a better result can be seen. And burning steem isn't enough to drive up steem prices. People need to increase the demand for steem. We need to increase the use of steem in our daily life. Like buying a car is like buying a house. Or maybe you have to use STEAM to buy a company.Steem can even be used to pay wages to workers. Then the steem demand will increase. Even a little burn will cost you a lot of steem.
I am inviting my friends to participate in this content. And request to join #bransteem25 । @mex-pro @shohana1 @nadiaturrina
Contest Link
#cryptoacademy-s5w4 #burnsteem25 #clun75 #steemexclusive #club75 #steemgrowth #bagladesh #bransteem25
My thoughts are that if it's done accordingly, the required impact would be felt. Burnsteem25 is a good initiative, but having the majority of authors with less influence indulging in steem burn would have less impact than when authors with bigger influence indulge in the same burn activity. It should be an all-inclusive drive for better impact in the short, medium, and long term.
All the best in your entry
Congratulations, your comment has been successfully curated by @irawandedy at 5%.
Thank you for the support. Regards
Yes you are right. I think bran steam should be made mandatory for everyone now.
Yes it is so called because these wallets do not have private key and you know that private keys are required for signing a transaction at the time of transferring out of tokens so in absence of private key signing a transition is not possible.
Yes we should expect the burnsteem to work that way .
Good luck
Token burn is a program in the crypto space where tokens are burned to remove excess of them from the market. That's true that the dead addresses don't have a private key and that means everything that enters the wallet are destroyed forever.
Thank you very much sister for reading the post seriously.
TEAM 4 CURATORS
Congratulations!We support quality posts anywhere and any tags.
Curated by : @fombae
Hey pal,
The dead or null wallet is a wallet created purposely and solely for the burning of crypto asset and for that reason almost all, if not all Blockchain technology has their own private dead wallet that is used to remove large amount of their native coin from the Total circulation and total supply.
This is then expected to help boost the price movement of the asset, at any period of time the burn is held. Burning is a healthy lifestyle for all Blockchain and I expect all to embrace it well.
Thank you very much for sharing, please you can check my own entry here
wishing you success
good discussion, not necessarily the increase in the price of steem is triggered by the coin burning process itself. But there are other requests, for example there is the adoption of steem which can be used for staaking in dapps and also used for other adoptions as some other popular crypto projects have done.
Thank you very much for reading my post carefully. I think that Steem should make burn steem aging for all users. What do you say about this...?
yes, not only users but also developers or curators as well as witnesses. there is a quarterly burn