Re: BNB burn 16th. Now BNB is worth $312. Will you buy or not?
...What exactly are the intervals that Binance conducts these burns? Is there a fixed number per year or does Binance burn BNB as they please? How about then number of coins? Do they follow a publicly known formula?
The burning of BNB will continue until 100 million coins remain in circulation. "The amount of BNB coins to be burned is based on the number of trades performed on the exchange within a 3-months period. So after each quarter, Binance burns BNB according to the overall trading volume" - https://academy.binance.com/en/articles/what-is-a-coin-burn On this page you can get full information about the BNB burning process.
Much appreciated, thanks for allowing me to be lazy
Erm, ok, so the only issue that remains is that BNB is actually not a decentralized asset right? I have studied a bit how BNB works and what I noticed is that most investors, mostly small retail investors, think that they are holding a decentralized coin. But BNB is anything but decentralized. It is fully centralized, but benefits from the trust that Binance built over time and lives up to. Anything I am missing or understanding wrongly?