Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Binance Coin (BNB) => Topic started by: MUGNIA on December 20, 2020, 04:13:20 PM
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he CEO of Binance, Changpeng Zhao, has announced via Twitter that the team at the exchange will be discussing ways of accelerating the BNB coin burn program. Mr. Zhao went on to request his Twitter followers to provide some suggestions as to how the current program can be adjusted. His exact statement was as follows.
"This weekend, our team has been discussing an Accelerated Burn program for #BNB. More details to come. Also welcoming any suggestions or bright ideas"
Current Binance Coin Burn Program for BNB
The crypto exchange of Binance has remained true to the blueprint of the quarterly coin burn set on the project’s whitepaper back in 2017. According to the document, the BNB coin burn was designed as follows.
-To be performed every quarter
-Binance will use 20% of its profits during that time period, to buy back BNB from the market and destroy them
-The final goal will be to destroy 50% of the initial 200 Million BNB minted during the ICO
more : https://en.ethereumworldnews.com/binance-ceo-were-discussing-an-accelerated-coin-burn-program-for-bnb/
what do you think about the news of this BNB coin burning?
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If there are less coins and demand remains the same or increases then there is only one way for BNB to go. The quicker the burn the quicker the increase.
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As far as I know the coin burning yesterday by Binance made the price of Binance Dump, many say this is a result of the use of BNB coins.
But if you see and read this thread, it would be nice if we could feel the same thing for BNB Holder when there is an fire, namely Pump.
Hopefully this will happen because I have a little bit of BNB to wait for this burning moment.
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BNB broke the all-time record with $ 39.70 today.Maybe they are restarting token burning or investors leaving xrp are getting BNB.
I attribute the increase in BNB to these two reasons.Perhaps the target $ 100 level for BNB could be seen soon.
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Changpeng Zhao is truly amazing at creating a platform for every coin trade because it is certain that Binance will continue to easily multiply quickly.
I assume that burning coins is really good for the progress of Binance because burning is a simple way to wipe out the supply of coins, even Bitcoin doesn't erase the coins, only a reduction in the miner's rewards.
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If there are less coins and demand remains the same or increases then there is only one way for BNB to go. The quicker the burn the quicker the increase.
But in my opinion, don't be too fast to burn coins because if you burn a coin wrong, it could be someone else's asset, it can also be burned and it will hurt other people who hold BNB.
I think there must also be a scale for burning BNB coins so that there is no such thing as miscommunication between traders, investors and Changpeng Zhao regarding coin burning.