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RE: Hive Images Proposal to Burn 1000 PHOTO Daily for One Year

in Hive Images2 years ago

Burning tokens is generally a bad idea, imho.

Burning tokens for a startup project is a really bad idea, imho.


... a steady increase in supply is a good thing, as long as that supply is finding its way into new hands -- and that probably holds true until the token becomes the world’s de facto currency.

https://peakd.com/hive-150329/@trostparadox/to-burn-or-not-to-burn-i-say-don-t-burn-crypto-or-bridges-or-witches-maybe-ducks-are-okay

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 2 years ago  Reveal Comment

There are plenty of smart folks out there who disagree with me on this.

For me, I have yet to see any convincing evidence that burning tokens leads to an increase in token price.

With that said, if burning tokens leads to less centralized distribution then that’s likely a good thing.

Putting tokens into a liquidity pool instead of burning them seems a better option. Of course you have to be able to provide the other token for the liquidity pool, so that’s not as easy as it sounds.

I wish you the best with this project!