RE: SkyBuds Tribe Series - UpFundMe - Join A tribe for contest and crowdfunding - Burning Tokens one lotto at a time
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If burning (destroying) our cryptocurrency is a good thing, why are we making so much of it all the time? If we need less, why do we produce so much? We could slow down how much we're making from thin air, but we don't.
If burning currency is good, why don't we burn USD? What's the difference?
If burning currency is good, and the more the better, then what happens if we're successful and burn it all? When there's none left, will we finally be complete here?
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A certain amount gets produced a day by inflation and mining in my understanding. If you produce too much and not burn an equal proportion then you end up with sports. This will happen to every other tribe but slower as they have no usecase for there token. Lotto/roulette is a usecase you need to buy it to play. It might not be to everyones liking but we are working on other ideas to make it useful.
If somehow you managed to burn 99% can you imagine what that 1% would be worth lol
I can't say it better than that reply, basic supply lowers than the price should rise more with demand.
Thats the best to my knowledge. Its is simply supply and demand. Awesome write up couldnt agree more. The divs for staking will attract even more people. Free steem for doing nothing 😊
No, that doesn't answer my question. Why shouldn't we burn our USD and CAD, isn't that also about supply and demand?
Because the governments don't want deflation they want inflation. Also CAD and USD is not a real currency. It is fake money that they say has value bit it truly hold 0.
What makes gold rise? The fact that it is not mined like steel so it is worth more.
Yeah but fuck the govt and their inflation. We want deflation, so why don't we burn all our USD and CAD, if that's how we get deflation (our goal) in STEEM?
If you burnt your usd today and i was the only one you knew holding some and you had to buy some weed tommorow and needed usd i would charge you more for the same shit paper.
I have supply you created the demand.