Why Burning Bitgesell coins?


WHY BITGESELL BURNING DAY? 

The Bitgesell Burning Day (BBD) is not about burning other people's coins. It is a voluntary burn by members to accelerate the deflation and appreciation process. This initiative is the result of several similar processes in many other reference cryptocurrencies. For example, Binance’s own CZ has been responsible for burning thousands of BNB over the past few years, concerned with stabilizing the currency’s value. Bitcoin itself had miners and early holders (you can check on BitcoinTalk from 2015 - https://bitcointalk.org/index.php?topic=917913.0) who burned quantities of BTC that, in less than 10 years, turned into true fortunes! Only a crazy person would burn BTC today! That’s right! Only a fool burns BTC today. Nowadays, it's rare to see this happen because the currency has reached such a high level of appreciation that no one dares to do it unless they were an early miner or bought BTC at a ridiculously low price.

BBD is therefore a voluntary burning of BGL cryptographic coins aimed at making bitgesell coins more expensive and scarcer over time. In society, there are many ways of burning money every day: for example, in war, smoking, drugs, fireworks, casinos, public nighttime lighting, when a farmer protests by throwing away part of their production, when someone buys a Ferrari or Porsche and could settle for a Renault Megane or when someone buys Louboutin shoes and could be happier with footwear from Decathlon! There are endless examples around us. Rolex manufactures 2 million watches per year! Despite being expensive, a Rolex from 20 years ago is worth its weight in gold, but compared to today’s models, it is a museum piece. Bitgesell has fewer than 21 million coins, and more than 1.2 million coins have already been burned in 4.5 years. Whether we agree or not, the  objective of BBD will have effects in the short and medium term! Through mathematics, the community knows this will happen. It only depends on how long you're willing to hold or burn your coins.

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