"Burning ADA is like stealing someone's wife"

 

Charles Hoskinson, enraged and irritated, recently lashed out at a viewer of his ask-me-anything session who mentioned the idea of destroying a portion of Cardano's supply for the sake of scarcity. Hoskinson stated unequivocally that the proposal was motivated by the user's "greed and stupidity."

"We are so glad you can tell us that we have to destroy other people's money so that you can make a little extra money and then sell the ADA and move on to something else," he continued.

Hoskinson then compared coin burning to stealing groceries from a supermarket, stealing gasoline from other people's cars, or stealing someone's wife.

Hoskinson recently introduced the “Proof of Burn” mechanism, which would allow anyone to destroy their own ADA tokens by sending them to an unspendable address, as reported by U.Today.

The reason why he was asked such questions is actually few stable coins have the habit of burning their coins often likewise  Stellar Development Foundation burned 55 billion Stellar Lumens tokens in November, which were worth a whopping $4.7 billion at the time. Similarly, Binance, the largest exchange, destroys its BNB tokens on a quarterly basis based on trading volumes.