Quote from: CjMapope on November 05, 2019, 10:53:53 PM

Wow i HOPE it affects the price atleast, 55b is a huge number, it reminds me they had way too many coins to begin with : /

Uh, yeah I'd say if 55 billion coins represents *half* of the supply, there's probably way too many circulating. If you ever wondered why dogecoin never seems to be able to break out of the 20 sat range, that's the reason, and doge has about 122 billion coins floating around currently.

But even if they wiped out those 55 bln coins, there still has to be a demand for the remaining ones. It's a nice reduction on the supply side, but demand is something they can't control. You might think that this would boost the price, but unless people keep buying XLM there's going to be little change, at least in the long term.

Quote from: blckhawk on November 06, 2019, 03:13:23 AM

Burning supply would probably increase market price, but I don't think its effects would last.

Right, I agree. There might be a little rally based on this news, but as I said unless there's a sustained interest in the coin there's not going to be much of a long term effect. I also don't know how popular it is. I've heard of XLM here and there but I've never really heard anything great about the project.