Post of THE WEEK!! Best Post Rewards! 25/12/2021 Written | Eagle Network Announcement
Post of THE WEEK!! Best Post Rewards!
25/12/2021
Written By @Calvady1111
Okay
Let me explain the concept of burning using a real life scenario.
Burning means reducing the amount of coins available for buying and selling.
Let's say you are the only fish seller in the market. Everyday you come to the market with 1 hundred fish and you have around 150 customers who payed $1 per one base on first come first serve.
So as time goes on your customers have increased to around 500 and you only brought just 50 fish to the market.
There is going to be a stampede to get a hand on those fish and if you increase the price to $5 per one, you will definitely make sales because number of customers is high while the available fish is limited.
It just a simple law of demand and supply.
Burning of Eagle tokens means the team is reducing the supply (from 10b to 7.5b).
From my experience we are not going to see the impact of the burn immediately.
But as time goes on and more and more investors buys Eagle. The demand will keep getting higher, and remember the burning is gradually decreasing the supply.
If this goes on it will leads to constriction in supply, which means scarcity of Eagle token. This will make the price of Eagle to jump up.
Don't expect price to jump up same day the burning takes place, it takes time for all this to play out.
What is "BEST POST REWARDS"?
The Eagle Network Core Team select and reward RANDOM Best Posts from the official "Eagle Mining Network" Telegram Group.
A Best Post is which inspires, helpful to other members.
Write About Eagle Network, Guide Others, and BEST will win the Rewards!
Best Post Rewards:
Post of the Day: 250 Eagle
Post of the Week: 500 Eagle
Post of the Month: 1000 Eagle
Thank you!
- Eagle Network Team
