We would request all the Indians to set 25% beneficiary to @null for Coin Burning . Let's see what is coin Burns #club75
Hello everyone this is Monz from India , hope you people are doing great and enjoying your days . Here is a piece of information which I would like to convey to all my Indian friends which is setting 25% beneficiary to @ null for coin burning.
Let's see what is coin burning ?
Coin burning can be defined as a process of reducing the coins in the crypto market which is for the purpose of reducing the supply of circulating coins.
Coin burn generally reduces the coins in the market and hence the price of the coin increases .
Why to set beneficiary for null and who is null ?
Null is account which no one has control over and when the coins of beneficiary goes into that account it is locked up forever which in turn will be removed by us in future.
The idea of setting beneficiary for 25% to null was suggested by one of our friends name @rosz . This project is also being supported by are very own @steemcurator01 sir . Below is the screenshot of the proof or the statement by sc01 sir.
Screenshot of the statement by steemcurator01 sir!
You already know to set beneficiaries so it is silly to show step by step setting of beneficiary. I would also like to add a piece of information that use #burnsteem25 tag in first three tags of the post after setting beneficiary to Null account .
We want all the #SteemIndia community people to follow the rules and regulations and use proper tag to get supported from our curators . Hope I am clear to convey my message to all thank you and have a great day I had everyone.
this idea of burning tokens works only if large accounts do it.... If we do it, it will have no impact on the steem economy, because what we would burn would be very little....
When some projects burn tokens, it is not done by small investors or users, it is done by big holders...
By burning, nothing will be achieved, my friends!
thanks for the mention and good luck and success on your day
Thankyou so much for your prompt response Friend ! Have a blessed day ahead.
Great work, dear!
Let's invite and teach our friend to set 25 % beneficiary to @null, together
Yes sister you are actually correct one by one everyone will start doing the same. Thankyou so much for passing by and have a blessed day ahead.
That's a great idea to burn the coins. It really works. I have seen this in the NFT marketplace, where they use this to increase their value.
Thanks, @monz122 for providing this piece of information to the steemindia community
Ye brother it's a knowledgeable post we have to implement on each and every upcoming posts.