I like the sound of burning. Must admit I didn’t know we were going to have this at all until now, maybe I wasn’t paying attention or has it only just been announced.
Where do we stand now with the remaining 3 billion or so uncirculating supply (to take us from 18 to 21 billion)? Does it mean we have variable levels of emissions versus burning, or is the old model completely out of the window now?
I know they throttled back the supply more than once and it didn’t help the price, so maybe burning will do the trick… I remember at least one person on here suggesting it a few times (can’t remember who).
Good question Pete. I have no idea how it works. My mind is still doing cartwheels and not functioning properly with this bit of news
Yep, news just came out in the link @Plankton_ETN posted. Check out the gas and fees section (I posted above)
There was talk of burning, I saw a YouTube video but not sure where that info came from.
Still wrapping my head around all this. Even dumpers will contribute to bettering the price. Ells could not have adopted a better model, it’s a win/win
I will say this and I can’t quite remember but I wanna say there are not 17 billion coins in circulation it’s far less due to cryptopia and all the wallets made back in the day that are not used anymore. There was a figure thrown out but I don’t want to speak on it because I can’t remember but I know it’s less than most people think.
Don’t know the figure either. But at the end of the day, what affects the price the most is the official circulating supply as that’s how the price is calculated ie
market cap ÷ circulating supply= price
Price x circulating supply= market cap
So if the official circulating supply is lower, price is naturally higher. Hodlers and lost coins help by creating supply limitation but the official circulating supply number is what really matters.
Sounds interesting. Not sure how much more I can handle. My head’s still spinning over the burning of coins news. If it wasn’t the middle of summer, I’d light a bon fire to mark the occasion
Kidding. I can totally handle more ETN news, bring it on haha
