OneManGang
Veteran
Cliff notes? What’s this burning stuff I’m hearing
Shiba Inu (SHIB) Discussion Thread
- Thread starter THE MACHINE
- Start date
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This is the first time I’m hearing about this as well
Supply and demand. Less coins in circulation, more rare they are to acquire. Let's say you and I have 50 each of a 100 total supply and each coin is worth $1. Let's say a bunch of people want to buy, like let's say 100 people. If I burn my 50, that leaves 50 coins and those 100 people gotta outbid each other for the remaining 50 cuz there's less coins available now. So your coins could end up being worth more.
Don't know if you into gaming but look at the ps5 and xbox consoles. Since there wasn't much being released, scalpers are able to raise the price on their consoles. Supply goes up, demand goes down, and vice versa.
send them to the same wallet that VB did ..
you could start another craze
EDIT: hol' upwut ..
crehs really out here on reddit having burn money competitions
I’m not burning shyt
Whatever happens, happens
Your wallet has a private key, password, etc., in order for you to access it and transfer coins in and out of. The burn wallet that was created, the private keys are destroyed so transfers can't be made out of. So those coins are lost forever and not able to be purchased since they can't be removed from that wallet.
OneManGang
Veteran
Makes sense
I had an idea it was this, but this sounds mad illegal no? LOL artificially inflating the coin seems kinda sus.
Not exactly cuz it happens naturally at times and not just with crypto. There's a bunch of btc that got lost early on cuz of missing wallet info. Last year one guy was trying to access his wallet cuz he was about to lose millions of dollars due to forgetting his password. With the way coins are easily able to move thru the network, it'll just look like you're giving someone else money.Makes sense
I had an idea it was this, but this sounds mad illegal no? LOL artificially inflating the coin seems kinda sus.
satireprod
Superstar
Folks are out here burning coins
What a time to be alive
I may burn a million for the hell of it
lol at the first part, I read about that on Twitter like
at the bolded
that million coins might be worth a few grand (10k if it ever gets to 0.01)
Torrential
LWO
This shyt is going up 
I have 105 million. I can spare 1 million. But if I just hold it has the same affect.lol at the first part, I read about that on Twitter like
at the bolded
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This shyt is going up
Every time somebody says this, I open up Kucoin and see this shyt ain't moving up at all
Torrential
LWO
Have you seen the monthly chart? Over 100 percent growth
Every time somebody says this, I open up Kucoin and see this shyt ain't moving up at all
I Really Mean It
Veteran
Some of you have zero patience.
