/biz/ - Business & Finance

>>51379727
Bump with art

>>51379809
Some more

>>51379819
fb
bp

>>51379727
burn is going live on the 20th of September. exchanges will support on-chain transaction, but still have to make it official about off-chain ones. if cexes were not going to do off-chain burns then they would've said it already. the fact they're keeping silent and playing coy is because they don't want to pump LUNC's price before the burn tax goes live. pic related, every cex will make a lot of money on the delta.

TL;DR: burn is happening on the 20th, cexes will fall in line soon after, grab a bag and make money before the price goes up again

>>51380488
>if cexes were not going to do off-chain burns then they would've said it already
That's not how it works. The proposal specifically only mentions on chain. Exchanges aren't just going to add some extra tax because "they feel like it"

>>51380977
I guess we’ll have to wait and see, anon.

>>51380488
So now I'm curious about what the actual burn rate will be if spot trading is included. How long would it take to burn the required amount? Also, what incentives do cex have to include the burn tax on spot trading?

>>51381073
>what incentives do cex have
Lietrally none other that virtue signalling. If an exchange implements a spot trading tax, users will go to other exchange that doesn't burn a % of their buy order.

>>51383428
you're such a faggot for trying to fud anons out of their bags.

>>51381073
>So now I'm curious about what the actual burn rate will be if spot trading is included.
3 months if we get 5 billion and more volume with FOMO. 6-12 months if volume tapers off down to 2 million and stays there. 2 years worst case scenario if volume falls off a cliff and goes back to under 500 million daily.

>Also, what incentives do cex have to include the burn tax on spot trading?
positive PR for helping revitalize a previously top-5 coin that died not from its own technical shortcomings but an outsider attack. furthermore, volume will be massive and cexes profit from that to a huge degree. finally (and this is the part that fudders always ignore), cexes are buying huge amounts of LUNC right now, in the billions of coins. this latest price action over the past week has been mostly exchanges stocking up on LUNC, not so much retail. the reason is that once the off-chain burn is added, an exchange that's implementing the 1.2% burn tax will just burn a portion of its stashed LUNC at market prices while pocketing the difference in money. hence the delta play for all of them. they're stocking up now on ultra-cheap LUNC so they can make extra profit from the burn tax later. it's ingenious and scummy at the same time. all the offchain burns on cexes will be basically just another levy they'll slap on transactions, and if they own billions of LUNC on the side (that they're buying right now at bargain prices) then they don't have to spend the difference on buying LUNC at current market prices as the coin starts mooning - they'll just pocket the money, and send coins from their own stash to the burn address. pic related is what every single cex is doing right now.

Isn't it possible to blacklist every exchange that doesn't comply with the burn tax?

>>51383966
>Isn't it possible to blacklist every exchange that doesn't comply with the burn tax?
yes, but what's the point? better to give them some breathing room, they'll all come around eventually. literal armies of curry jeets will keep badgering them on twatter, just look at how much hate Binance and CZ are getting for not instantly applying the burn tax. all cexes will eventually onboard with the burn, some sooner some later. no point blacklisting anyone.

>>51379727
>>51383966 cex wallets is only goin' up iz at 70 now. Bout fit-teen up from last munth,
>tax
GOOD GOD! we're repegging in the sky ~ Suweeet Babyy Jesusss, in the sky ohhhhhhhhhhhh

>>51379727
>on-chain
never happening
>off-chain
theoretically possible... highly unlikely

>>51383764
none of that is remotely true. stop giving anons false hope by just blatantly making numbers up

>>51385420

lol, lemme gues, you're one of the anime faggots shorting LUNC? IF not, then why don't you disprove his numbers instead of being a nigger?

This whole lunc escapade taught me a lot about human delusion

>>51385420
Refute them then kike

>>51385617
it’s incredible to witness these goyim cattle all hype themselves up to become bazillionaires if they just “stay strong and HODL bros to the mooon!”
disgusting reddit refugee behavior

>>51379819
what is the source of this painting i need it

>>51379819
I shall call it: "The Temptation of Tortoise".

On-chain burn is implemented starting on the 20th
>>51385330
Opposite, but off-chain is probably possible. Binance said they're looking into it

>>51379727
Que pasa maño?

>Can someone explain the LUNC burn to me
It's a nothingburger, highly hyped sell the news event to create the liquidity needed for whales to dump their billions LUNC to bagholders

>>51379727
>burn
What does this mean?

>>51383764
>you're such a faggot
Lovely ad hominem refutation without addressing the issue. Bringing up a legit issue isn't fud, and calling someone who brings it up a faggot doesn't just sweep it under the rug.
Go back to your telegram channel and keep sucking each other off.

>>51380488
>>51380977
Checked

>>51385617
That's why they're called lunatics

>>51380488
Binance explicitly said they're not taxing off chain transactions

>>51379819
source of image?

>>51379809
Ok

The flood of fud from kikebird's gay orgy just confirms what lunchads always believed

>>51389772
No they didn’t you disingenuous fudnigger kike. They said not until it was done on chain first. The fact shit like this is going round gives me a woody. The green candles when Binance say they actually are implementing an off chain burn are going to be insane.