SOME INSIGHTS PUSS COIN BURN HISTORY PROVIDES ON THE HEALTH OF THE PUSS TOKEN

SO IT GOES The cryptocurrency world and market is a wild place where very insane strategies and risks are implemented and taken for the chance of growth and success one of this very wild strategy which did not make senses or was not implemented in any other financial system or market is Token Burning so basically the concept of Token Burning simply describes the act of burning a particular amount of cryptocurrency token just as the name implies, burning used signifies just like anything burnt with fire is gone for good and irretrievable and the process is irreversible the same a token burnt is irretrievable.

However this illustration does not suggest that the concept of token burning is done literally by burning the token with fire but rather it justs describes the finality of the process, now token burning is done by creating a null wallet address, one that is not accessible to any one or any party and then transferring the tokens intended to burnt into this wallet there by removing the burnt tokens from circulation token burn is a strategy that is implemented so as to cause the scarcity of token, controlling and reducing the supply, this strategy helps the token to realize long term value and gains the trust of the users.

Therefore a cryptocurrency project’s willingness to make and implement this strategic decision to burn its token helps to provide insight about the health and condition of that token presently and the health and condition it should be in, in a few years time. Fortunately puss coin is one of the cryptocurrency project that is actively practicing token burning so please join as I examine what insights it provides as regards to the health of the puss token.

IT GIVES A REFLECTION OF COMMITMENT TO LONG TERM VALUE.

After a clear and thorough analysis of the puss coin’s token burning history it becomes clear the effort and commitment of the puss developers, token holders and community members to the coin achieving long term value in the cryptocurrency market. The puss developers introduced a consistent and automatic puss burning mechanism that is linked to the steemit and steem ecosystem known as the pussteem by so doing they provided incentives for community members to buy the puss token and burn and in return they receive support in the steemit platform.

Till now I am still adjusting to the demands of this community because of the hardship and I want all my profits that comes from selling off my tokens when I need to not burning them but deep down I know that this burning mechanism is for the best and if I play my cards right I will join the puss project to grow, I’m not the only one who knows, other investors do too, they see clearly that the puss community and its members are focused and fully committed to the growth of the puss coin and ensuring that it achieves long term value.

TRANSPARENCY IN BURNING REPORTS BUILDS TRUST AND REDUCES FUD

Basically because of the volatile nature of the cryptocurrency market space, because of the up and downs the crypto world is widely known for cryptocurrency projects might want to keep information and reports of the health and progress and challenges of tokens in the markets a secrete, thinking that it is best for the users and investors are not bothered with those information so as not to cause panic and fear this although seems like it is understandable, often leads these projects to loose their credibility fast and at which point the panic and fear will still then set in so the best thing is to be open and one thing to be open about for the puss community for example, is the burning report.

So in a completely transparent puss community every token burnt is accounted for with the corresponding wallet address it was burnt in, time stamps, transactions hash numbers and everything that a user will need to very the authenticity of the burn report they are being given, this transparency and openness builds trust and eliminate any fear, uncertainty and doubt.

CONCLUSION

In conclusion, token burns or the concept of token burning is mad effective financial strategy that facilitates scarcity at the same time an analysis on the burn history has its own benefits as the readers of this post will well know now.