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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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6267807 No.6267807 [Reply] [Original]

You didn't forget the quarterly binance BNB token burning that will take place mid January didn't you anon? Anon?

>> No.6267833

When does it happen

>> No.6267871

beginning of the quarter always. last was 14th october

>> No.6267961

So that tomorrow or two days from now

>> No.6268023

>>6267807
so, what does it mean? price increase or the coins disappear?

>> No.6268025
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6268025

thanks for the scoop goy

>> No.6268101

>>6268023
20% of binance profits each quarter are distributed to BNB holders. That's why holding BNB is like selling shovels in the gold rush at the moment.

>> No.6268117

Sold my bags for ICX that then dumped. Got double shitted on. Feels bad man.

>> No.6268181
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6268181

>>6268117
don't give up. with bnb you gon make it

>> No.6268271

>>6268101
thanks,
in percentage to the BNB holding share of the user?

>> No.6268319

>>6268271
no it happens indirectly by destroying BNB supply by buying up the market and removing the tokens permanently

>> No.6268355

>>6268319
do they just put one huge market order or...?

>> No.6268404

>>6268319
so that, in practice what happens? increase the price of my BNBs?

>> No.6268406

>>6268355
nevermind i found a video where they actually burn them
https://www.youtube.com/watch?v=Da2pRlOELr8

>> No.6268540

Does anyone have the data for binance volume in OCT 2017 at rank 5 in volume compared to now at rank 1?

they burned 1.5m usd worth at rank 5 so what ballpark figure should we see now?

>> No.6268612

>>6268404
Nigga what do you think supply and demand even is

>> No.6268624

So i was trying to figure out the numbers on what the coin burn would be by estimating binances profits. Crypto has blown up this last month with at least 6 billion in volume per day on their exchange. Their commission fee is 0.05. So very roughly 6 billion x 30 for the last month is 180 billion. 180 bil x 0.05 is 9 bil. 9 bil x .075 for 25% corporation tax in china is 6.75 billion. 6.75 x.02 for the 20% burn of profits is 1.35 billion. 1.35 billion divided by the current coin price is 79 million.

So yeah thats just the last month not the whole quarter. I think its safe to say binance will have a multi billion dollar profit this quarter and the coin burn will be massive. Keep in mind theres only 99 million coins in circulation and a total supply of 200 mil. If binance were to burn even this months profits almost half of the total supply of coins would get burnt. So clearly this coin is going to have to rocket in value before that to stop so many coins getting burnt. My math is probably way off and there are probably a lot of expenses on their side but its a general idea. Thoughts?

>> No.6268711

>>6268624
thanks for this anon

>> No.6268723

>>6268612
Nigga, why can't /biz/ reply in simple way?
just say, price increase by 20%

>> No.6268767

>>6268723
because noone knows exactly what will happen

only that supply will go down, and demand therefore will go up

>> No.6268892

>>6268624
So what, I hold their coin and I'll get paid for it for the time I've held it, until the end of the quarter?

>> No.6268953

>>6268892
No they take 20% of their quarterly profits buy back BNB and burn it, removing it from the total supply. Thus increasing the value of it, if you're holding you will profit as supply instantly drops.

>> No.6269003

>>6268953
As long as I buy before the burn I should be good then? Really?

>> No.6269033

>>6269003
Yeah I'd imagine people will start pricing it in and the value will go up in anticipation of it though so the sooner the better really. We don't know when it will happen.

>> No.6269047

>>6269003
yes

but people will be buying beforehand in anticipation of it going up

>> No.6269166
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6269166

Marketcap constant, Supply down, Price up.

Can't go wrong

>> No.6269175

I really think its gonna explode when their quarterly profits come out

>> No.6269429

I a binance account but no ETH or BTC to transfer there...

Dumb as I am I traded on etoro and don't have any real coins...

How to get ETH fast to transfer to binance?
Verify on various pages seems to take long.