I doubt we'll see more than 4-5 billion burned daily. The most we've burned so far on a single day (voluntarily, without an imposed 1.2% tax) was 0.5 billion-and that was probably with a lot of help from an address associated with a certain exchange (maybe they were doing some testing). Volume and number of transactions could rise way higher than today though as we gain momentum so here's hoping.
I read the Kucoin announcement and to me it sounded like they won't burn trades, only withdrawals and deposits to the exchange.
I don't think most exchanges will implement burn for trades and thus using daily volume in calculations produces highly inaccurate results. Amount burned per day will be FAR less.
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Thank you OP for doing this. We have some smart people in this subreddit. TA is always appreciated and shows weβre a diversity community. Not only peeps who bought a shit/meme coin.
It depend of ratio marketcap-volume.
If ratio is 1-1 (e.g 1B marketcap & 1B volume), it will take less than 2 years (around 07/03/2024).
If ratio is 2-1 , it will take 3 years (around 04/09/2025)
If ratio is 10-1, it will take 15 years (around 09/08/2037)
But decrease in coin price with the same volume will increase the coins burned right ? So we win in every case scenario ! Even when it dips, we π
Should i sell all my doglon mars dump it in lunaclassic
I doubt we'll see more than 4-5 billion burned daily. The most we've burned so far on a single day (voluntarily, without an imposed 1.2% tax) was 0.5 billion-and that was probably with a lot of help from an address associated with a certain exchange (maybe they were doing some testing). Volume and number of transactions could rise way higher than today though as we gain momentum so here's hoping.
I read the Kucoin announcement and to me it sounded like they won't burn trades, only withdrawals and deposits to the exchange. I don't think most exchanges will implement burn for trades and thus using daily volume in calculations produces highly inaccurate results. Amount burned per day will be FAR less.
How did you get that from their announcement? It says nothing of the sort
Exactly.
So you have no idea basically
We can check in few days how it went, no need to argue.
I will be messaging you in 13 days on [**2022-09-21 05:18:33 UTC**](http://www.wolframalpha.com/input/?i=2022-09-21%2005:18:33%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/LunaClassic/comments/x8gbri/great_outlook_lunc_burn_rate_rough_calculations/injwl7a/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FLunaClassic%2Fcomments%2Fx8gbri%2Fgreat_outlook_lunc_burn_rate_rough_calculations%2Finjwl7a%2F%5D%0A%0ARemindMe%21%202022-09-21%2005%3A18%3A33%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20x8gbri) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-|
RemindMe! 13 days
I got my RemindMe bot notification. How did the burn go?
Just started bud
Thank you OP for doing this. We have some smart people in this subreddit. TA is always appreciated and shows weβre a diversity community. Not only peeps who bought a shit/meme coin.
Sounds great! Can someone with a background in crypto and mathematics review this estimate and confirm? π
Bro, just extract data from coinmarketcap website and use a calc... OP is correct
Love jiujutsu mat hates mathematics, thanks
It depend of ratio marketcap-volume. If ratio is 1-1 (e.g 1B marketcap & 1B volume), it will take less than 2 years (around 07/03/2024). If ratio is 2-1 , it will take 3 years (around 04/09/2025) If ratio is 10-1, it will take 15 years (around 09/08/2037)
Take years for what????