i have no ICN. i have no tokens of any competitor either.
on the announcement of the burning initiative, is it correct to say that if the market price of ICN is lower the cost to the project of burning is reduced? is this true or a misconception?
To clarify.
The cost of the act of burning is the same.
The quantity able to be purchased to burn will be higher if: 1) ICN is cheap
2) ETH is worth more
Essentially the more that can be destroyed before any real rise in price, the better for the long term holders.