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That’s like saying “oops I burned my house down. Everyone can see it’s unspendable but at least it increased my neighbors value of their house because there are
by withinboredom 5y ago
That’s like saying “oops I burned my house down. Everyone can see it’s unspendable but at least it increased my neighbors value of their house because there are less houses.”
Houses (and crypto) are worth actual cash. Burning them doesn’t increase the value of others in any meaningful way.
- tinco 5y agoNo, a burned down house can be rebuilt and burning down a house actually increases entropy in the universe. It is a clear destruction of value. Burning Ethereum irreplaceably removes it from the pool. Ethereum is not inherently valuable, the Eth is just a token representing a contribution to the network, that you do not redeem it just makes everyone's Ethereum a little bit more valuable. This is also why crypto is worth such ridiculously large amounts. Almost everyone is "HODLing", not redeeming their ETH for money, so the Ethereum that is in circulation is more valuable.