Just my two cents on the recent topic of burning our own tokens. It's a noble idea, but as lilLu just stated, if we lose a zero, suddenly it's not so easy for regular Joe's like us to burn a significant amount.
Luckily, I don't think we are needed to do this. Shib has been disguised as a meme coin from the beginning, but they've been hiding their true identity (literally). Shib was never intended to be just a meme coin. There's been a plan all along for worldwide adoption of Shib and the devs are just sticking to the playbook.
I still believe there will be a significant burn by the devs when they announce the official name for their Metaverse. They have said Shiberse is not the official name. That being said, the plan all along I believe is to have the majority of shib burning be done through the spending of shib.
Most people rarely use cash these days. People pay with either debit or credit. Just about every credit card will give you rewards for using their card. I myself use Discover card because I get 5% back on my purchases. Where does Discover get the money, not only to sustain their business, but to provide me with 5% cash back? They get it from the retailers as payment for their service. It's why some gas stations will have different prices depending on whether or not you pay with cash or credit. If you pay with cash, they don't have to give a cut to the credit card company so they can charge you less.
I tell you this because I ask, what is crypto going to do? How will crypto companies get their cut? The same way the credit cards do. They can get a percentage of purchases. That may be the case for Shib down the road when the price of the coin stabilizes at a certain level and they stop burning and start accepting payment, but for now in the early days, I believe the plan will simply be that Shib's cut on purchases paid with the token will simply be the tokens that get burnt.
So there's no real loss to the retailer for a percentage of each transaction getting burnt. It's no different than if they were going to have to pay the credit card company. It's a win win win for everyone. Retailers get faster transactions with more reliable record keeping. Shib developers get mass adoption of their coin. And Shib investors get constant burning of tokens which will keep the value of shib constantly increasing.
We've already seen the dedication from the Shib community. People are burning their own tokens even though what they can do at this point is the equivalent of removing a bucket of sand from a beach. The goal is to redirect that dedication in a more positive direction. All shib owners need to do is spend their coins. We will get goods and services just like any other form of payment and the burning happens without the community footing the bill.
So the plan is to get mass adoption by retailers and consumers. It's why a quadrillion tokens were created. To keep the price down in the early days and leave plenty of room for burning. Getting a few big players on board like Amazon and Walmart could make a huge difference, but it's also going to require time for consumers to get used to spending crypto. I see my coinbase account has a spot for using my crypto as payment but I have never done it and to this point don't know exactly what I'd need to do if I want to buy something with Shib.
So what everyone needs to do is wait for the devs to provide us with opportunities to spend our shib naturally and then do it. This is all my opinion, but I believe this has been the road map for shib all along and things seem to be still on track.
This is all just my opinion. Please make your own decisions concerning Shib and any of your investments.
Good Luck,
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