I wasn't around when they did the other coin burns but I know they have another planned. Are they actually going to buy X amount of coins from exchanges and what not and actually remove coins from the circulating supply and then "burn" said coins?
Or are they just gonna take coins they have that have never been in circulating supply and "burn" them?
If its the latter then imo it's not really a coin burn. Because they arn't taking anything out of circulation supply.
So lets say they will burn 10,000,000 coins. The current price on Binance is 11 cents. So they would need to go spend something like $1,100,000 to buy the coins out of circulation and then burn them.
Something tells me these "coin burns" are just for show.
Also they need to send the coins to the normal burn address.