Hi guys, I noticed some projects use to burn their token after ICO or after listed on exchanges.
For Example. I got the news on No Bs CRYPTO (Nobs) burning their 75% of the total supply.
Proof link:
https://nobscrypto.com/blog/announcement-2018-10-16/What's the advantagess and disadvantages of burning the token?
To my best knowledge. Token burn is a means of reducing the total and circulating supply of the token, to help the value of the token increase in the market.
They are thinking that's the instant method to increase the price of their coins but it looks wrong. The result will depend on the development, even you burn your almost all of your tokens and if there was no a good development and it will become another crap coin. What's the usefulness of token without any utility?