Automatically deletes bits of its own value from the current owners wallet?
Automatically deletes bits of its own value from the current owners wallet?
So I don’t know all the crypto lingo and I’m still lost with a lot of how it works but I’m curious, is this possible?
Say I want to create my own coin. 1 billion supply.
Is it possible to
-increase the supply or decrease the total supply programically?
-reduce the value of an owners current coin. If coin has 0 activity/movement, relinquish 10% of it’s value annually. Send the relinquished amount back to the system (I don’t know the proper term for this) to be burned or held. So if 1 coin is valued at $10, the owner would now own 9/10, $9 vs 10/10. The Blockchain would show the coin traveling out of the owners wallet. If coin is in cold storage, it would automatically do checks before any activity is done.
It’s all decentralized. You own the coin, but you can still lose it. The fine print is very clear from day 1 and does not change.
Aside from the fact theres no way I’d touch a crypto that can “be burned from my wallet” without my say so…
You’d be looking more towards a “transaction tax” which would help burn supply for every trade/transaction done – I think LUNC is doing this after their stupidly insane amount of token inflation following their crash.
Other shitcoins like Safemoon also implemented transaction taxes I believe.