Charles Hoskinson: “Burning Coins Is Like Stealing Groceries In A Supermarket”

Cardano founder Charles Hoskinson criticized the user’s question about burning ADA coins, accusing him of being greedy and seeking to “profit” at the expense of other people.

During a recent Ask Me Anything (AMA) session on YouTube, Charles Hoskinson got angry at a member who suggested destroying some of the ADA stockpile. The user believes that the ADA deficit in the market will increase the coin’s rate. Cardano’s offer is capped at 45 billion ADA, and some traders think that’s too much. By comparison, Bitcoin’s resources are limited to 21 million coins.

Hoskinson replied that this idea is indicative of the user’s greed and stupidity. The founder of Cardano said that he is not going to destroy the invested money of people so that the user can earn some money, and then sell ADA and invest in another project.

“Burning coins is like stealing groceries from the supermarket, draining gasoline from cars and kidnapping other people’s wives,” Hoskinson said.

The Reaction Of The Creator Of Cardano To The User’s Question Looks A Little Strange And Aggressive, Since In August He Talked About The Mechanism Of “Proof Of Burn” (“Proof Of Burn”). According To Hoskinson, This Mechanism Will Allow Any User To Destroy Ada By Sending Them To A Special Address From Which It Will Be Impossible To Spend Or Withdraw Coins.

Many Projects Do Not Neglect The Burning Of Their Own Crypto Assets. So, After The Deployment Of The London Update On The Ethereum Network, The Number Of Burned Eth Exceeded 327,000. The Binance Cryptocurrency Exchange Also Regularly Destroys Internal Bnb Tokens. In July, The Trading Floor Got Rid Of 1,296,728 Bnb.