BNB Coin Burn ELI5

[Anonymous No.3886639]

See that? That is the Binance BNB orderbook

Binance is about to burn 1 million coins

See that pink mountain? That represents the entire orderbook.

That pink mountain = 250,000 coins for sale

Binance is buying 1 million coins

Only 250,000 are for sale.

Any other smart money seeing this? How can we make it simpler for all these ChainLink retards?

[Anonymous No.3886821]

shh I'm waiting for the BTCs to confirm

[Anonymous No.3886822]

>>3886639

someone else think about this for me and post what u think about

[Anonymous No.3887080]

>>3886822
Juicy gains to be had

[Anonymous No.3887151]

>>3886639
Binance is a shit site with an awful colour scheme

I'd rather be a poor nocoiner than have to look at pink and green charts

[Anonymous No.3887210]

Dumb this down for me further please? How does burning coins make the value go up?

[Anonymous No.3887236]

they aren't buying them from the order book you fucktard, they already have them

[Anonymous No.3887319]

>>3887236

>We will buy back and burn 986,000 BNB

kys

[Anonymous No.3887349]

So tell me how to profit from this... do you just hold BNB and see how it ends? Or do you buy and put up a sell order that is 4x the price you bought for?

Brainlet here.

[Anonymous No.3887350]

>>3887236
This aint no jew scheme boi
>Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until
we buy 50% of all the BNB (100MM) back.

[Anonymous No.3887371]

>>3887319
You are so fucking stupid it hurts. Binance is spending 20% of their profits to buy back tokens. According to you, they are going to buy a set number of tokens. If like you are suggesting, the price is going to 10x in a day, how are they going to afford a million tokens with their measly profits?

The team has another 100 million coins that are released in increments. The buyback is buying these coins off of the investors and founders supply, that are being released.

No, they aren't going to pay $100 a coin to get their million coins for the burn, you fucking imbecile.

[Anonymous No.3887444]

Already priced in

[Anonymous No.3887558]

>>3887371
It is a set number
>We will buy back and burn 986,000 BNB
Also means they didnt do it yet

[Anonymous No.3887579]

>>3887151
>doesn't understand pro mode

[Anonymous No.3887689]

>>3887558
It's a Chinese operation that doesn't speak English well. They will buy them back from their stockpile. Notice how they didn't say "we will buy them back on the open market". They are buying them back, from a wallet they own, and are burning them on the open market.

They calculated a specific number to burn, which means they calculated it at a set price. If they tried to buy up a million tokens in one day, the price would rocket and they wouldn't be able to afford nearly that many tokens with 20% of their profits.

Think logically. I know most of you are dumb as hell and blind by FOMO but this much should at least be obvious.

[Anonymous No.3887779]

>>3887689
Nice FUD. It clearly says they are buying back 986,000 in bold letters. Burning the collected fees doesn't constitute "buying back"

[Anonymous No.3887994]

>>3887779
I guess FUD is having a brain. You are fucking retarded if you think they are going to buy 3x the entire order book in one day. What part of it being an Chinese operation that poorly communicates with their English customers don't you understand?

And it is still buying back if they pay market value for coins they own, and burn them from existence. But go all in I don't care I was in at 30 cents and got out a while ago.

[Anonymous No.3888113]

You guys are fucking retarded. Why the fuck would they buy the whole order book? That would cost a fuck ton of BTC. They are REMOVING 986 000 TOKENS FROM THE SUPPLY. Limiting supply = higher price but not buying all the asks jesus fucking christ