@idiosyncratic1
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After EIP-1559, Ethereum has become deflationary Even though I criticize the reliance on the coin burn concept to create a buy pressure on the useful project, EIP update proved that people expect such events to estimate the real valuation of the #cryptocurrencies. Regardless of the utilities, the way people react to the burning events shows that the old school habits that come from stock markets are still valid for #crypto assets even though there are several more parameters to be considered. If the coin burn is such an effective narrative, why do not many of the projects try to follow the same way as a part of marketing and scarcity tool to attract enough attention? So far #Pancakeswap have been doing it as a part of marketing and both hodlers and the developers are quite happy with the results 😌 #Cryptocurrency
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Burning tokens sometimes doesn't make sense. A good example is Bitcoin. Only X amount of tokens could exist in total so it became a more and more rare (just like diamonds, gold, etc). Because it's rare and there is not a "big" amount, it becomes more and more valuable. Now EIP-1559 was a good proposal but they never factored in the increase/surge of network usage because of new features aka nfts. Because of that I still see no point of having that London fork. Once the resolve the gas fees issue (by remove the load from the mainnet to parallel networks/chains), then it could be useful