Author: Peter Todd 2022-06-28 23:22:40
Published on: 2022-06-28T23:22:40+00:00
In a bitcoin-dev thread, the topic of burning bitcoin was discussed. One user argued that those who never transact with their bitcoin never realize any benefit, to which another user responded that it is more relevant to compare those who transact often and rarely hold to those who hold a lot but rarely transact. The first user then mentioned that there are legitimate uses for burning bitcoin, but the second user clarified that all legitimate uses involve transactions proving that the bitcoin has actually been burnt, rather than simply throwing it into a bottomless pit. In addition, the value obtained through burning BTC is affected by transaction fees and inflation just like any other transaction.
Updated on: 2023-06-15T21:26:06.919727+00:00