04-05-2022, 10:24 PM
If "burning" is a greatest utility with coin/token you bought, chances are high that
<!-- SC_OFF --><div class="md"><p>And probably if you want to hold a long term you will get rekt. Probably. Your decision.</p> <p>"<em>We are going to burn 5% of our supply every 2 weeks"</em></p> <p>If this is the only thing developers of the project are forcing, targeting, then chances are high that you invested in a shitcoin.</p> <p>Not only that, but sometimes you will see a massive 50% burn immediately after the launch.</p> <p>They will talk about great burning of 50% like it is the best thing in the world and the only <strong>thing that matters in crypto.</strong> </p> <p>With that they will also try to <strong>hide their whales messing around with % of the coin ownership</strong> (<em>for example on BSC scan, if you have 10m tokens and supply is 100m tokens, they burn 50%, BSC scan will show you as the owner of 10% while truth is you own much more then that. It is because BSC count the burn address in the pool aswell)</em></p> <p>I don't even know why do we keep calling it "shitcoin" when most of them are "shitTOKENS".</p> <p>Now I am not saying that you are not able to make money with it, its your call and your decisions, not all of them are a rugpull. Also some legit projects are burning coins, but that is not the main thing of their project.</p> <p>If you plan to hold it long term, beware</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/UnexperiencedIT"> /u/UnexperiencedIT </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/twp9ed/if_burning_is_a_greatest_utility_with_cointoken/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/twp9ed/if_burning_is_a_greatest_utility_with_cointoken/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>And probably if you want to hold a long term you will get rekt. Probably. Your decision.</p> <p>"<em>We are going to burn 5% of our supply every 2 weeks"</em></p> <p>If this is the only thing developers of the project are forcing, targeting, then chances are high that you invested in a shitcoin.</p> <p>Not only that, but sometimes you will see a massive 50% burn immediately after the launch.</p> <p>They will talk about great burning of 50% like it is the best thing in the world and the only <strong>thing that matters in crypto.</strong> </p> <p>With that they will also try to <strong>hide their whales messing around with % of the coin ownership</strong> (<em>for example on BSC scan, if you have 10m tokens and supply is 100m tokens, they burn 50%, BSC scan will show you as the owner of 10% while truth is you own much more then that. It is because BSC count the burn address in the pool aswell)</em></p> <p>I don't even know why do we keep calling it "shitcoin" when most of them are "shitTOKENS".</p> <p>Now I am not saying that you are not able to make money with it, its your call and your decisions, not all of them are a rugpull. Also some legit projects are burning coins, but that is not the main thing of their project.</p> <p>If you plan to hold it long term, beware</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/UnexperiencedIT"> /u/UnexperiencedIT </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/twp9ed/if_burning_is_a_greatest_utility_with_cointoken/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/twp9ed/if_burning_is_a_greatest_utility_with_cointoken/">[comments]</a></span>Kind Regards R