Hey Steemit.
A few weeks ago I invested in two coins in particular. Tronix(TRX) and Paccoin(PAC). I recently was told there would be a coin burn on these coins in particular. Immediately my gf started to panic thinking I made a terrible investment move.
Today I want to talk a little more about coin burns and let you guys know that it actually turns out to be a positive thing. Lets get rid of a few misconceptions.
1. No you will not lose any coins in the burn.
2. No you will not lose any coins as direct result of the burn
3. No you should not sell directly because of a coin burn.
Technically all that is happening is you are trading your old coins for new coins. They are valued the same. For example, if Tronix is worth $1 and you buy 100 coins. You have a total of $100 in coins. AFTER the burn you might have 10 coins but they are now each worth $10. Your total will still be $100.
PAC will be redistributed at 1000/1 ratio. So If you have 5000 PAC, after the burn you will only have 5 PAC but they will be worth the same amount.
At the end of the day the entire point of a coin burn is to keep investors while at the same time updating technology on the particular coin. So if the business has a vision, they keep to their plan, they keep the community updated, then I would say your coin will do just fine. The burns are a positive thing for investors. It gives a good future and shows that the company is making moves toward better tech.
The TRX coin burn is going to instantly make the remaining coins more valuable. I think, unfortunately, a lot of misinformation in cryptos is spread by those who are not aware of what the actual terms mean.
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Prime example is this article:
"1. No you will not lose any coins in the burn.
No you will not lose any coins as direct result of the burn"
Then the paragraph directly below these 2 statements explains how you lose your coins but not any dollar value:
"Technically all that is happening is you are trading your old coins for new coins. They are valued the same. For example, if Tronix is worth $1 and you buy 100 coins. You have a total of $100 in coins. AFTER the burn you might have 10 coins but they are now each worth $10. Your total will still be $100.
PAC will be redistributed at 1000/1 ratio. So If you have 5000 PAC, after the burn you will only have 5 PAC but they will be worth the same amount."
We have people writing publicly facing articles when it is apparent they have no clue of the specifics they're writing about lol...unbelieveable.
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Is it not the same thing as a Reverse stock split?
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Are you absolutely positive?? What are your sources? When are the burns scheduled for???
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TRON Coin burn is sometime in Feb 2018 if I am not mistaken. Reduction in supply is always a good thing.
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Pac is doing it starting in march. Not sure when tron will do it.
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Confirmed TRON coin burn on March 31st 2018. And please be informed that coin burn will not affect your holdings.
The example, if Tronix is worth 4 cents and you buy 1000 coins. You have a total of $40 in coins. AFTER the burn you will still have 1000 coins but they are now each worth $1. Your total will be $1000.
That is 2500% profit guys.
TRON has a 100 billion total supply and 65 billion circulating supply. So rest 35 billion is allocation for future development and for the team.
News confirms that 20% of TRX will be burned. So we can expect a 10 - 14 cent [current price is at 4 cents] tron after the burn.
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What's your source for the confirmation that 20% will be burned?
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Great example of not knowing what the fuck you're talking about. Contradiction city up on this article.
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The exchange conducts coin burn every fiscal quarter. Currently, they are ready for the fourth quarter coin burn which involves around $32.7 million BNB.
Check here: https://coinpedia.org/news/binance-ceo-update-coin-burn/
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