[DISCUSSION] BitDAO Burn Tokens

nice. burn 7,000,000 (7M) Bitdao daily for 3.5years :rocket: :astronaut: :full_moon:

6 Likes

a little difficult if there is no support from the majority shareholder of BIT like bybit

2 Likes

Here is the logic:

Burn => Supply down => Price up => Personal Wealth up

But please think about whose BIT are we burning? My? Yours? BitDAO? Bybit? etc.

I am pretty sure none of these parties mentioned above would like the burning of their own token for the sake of others’ personal wealth.

Burn BIT from the purchase program? How would that ever help with the price? You are essentially burning your own money…

Burn BIT from the purchase program => Supply down => BitDAO Treasury down

Look at BNB. Well, surely that’s not due to its centralised holding.

7 Likes

Doesn’t anyone talk about the 30 million bit that will be unlocked on the 15th of each month? This will last for eight months, and if some of it is sold in a very short period of time, it will cause prices to fall further. I think it is time to increase TDPA and accumulate some USDT to deal with the 30 million unlocked bit each month, so as to prevent these chips from being used by some people to let prices fall deliberately and profit from the middle.
Based on the above concerns, I suggest setting TDPA at $1 million a day and accumulating $300000 of that to stop prices from falling rapidly.

5 Likes

let’s burn the tokens

2 Likes

It does not fit the market dynamics. The price is constantly falling. Who creates the selling pressure? Money laundering?

1 Like

I am agree with that

2 Likes

let’s burn the tokens

3 Likes

let’s burn the tokens

3 Likes

That’s too early to burn $Bit,

When bit was created, what did we intend to do? I’m pretty sure, not just for the $$ of BIT tokens.

It is a good idea to control the number of BIT. However, deflation is as serious as inflation. When deflation happens, the willingness of investment may decrease because the price of BIT increase, I am afraid that will lead to a reduction in value of BIT.

Yes please this is needed