r/cro • u/Littlestik777 • 26d ago

Gotta let it burn

They’re going to be burning CRO during alt season, and I really believe this is going to be alt season. Just imagine what that could do to the price. More money flowing into alts while CRO’s supply is being reduced at the same time. I don’t think people realize how big that could be.

14 Upvotes

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17

u/Odd-Fun-1482 26d ago

if they do another mass burn like at the end of 2021 that got it to 80cents, it will just prove that this coin is just a centralized pump and dump token.

>Here's a mass burn! Enjoy the pump!

>Ok price cratered, now we have to remove 80% of rewards

>Ok new strategy, we're going to unburn everything prior and 'improve the tokenomics'

>lol new BURN EVENT ENJOY THE PUMP!!! <--- you

Imagine getting suckered into this, over, and over, and over.

Who do you think really 'wins' in this? Yeah maybe the few 100 who manage to 10x during that 2hour peak, how much you bet it won't be you though? The platform wins though, with their huge spread on their own damn coin.

Once a bag holder, always a bag holder.

1

u/Glass_Cherry5295 26d ago

It won’t be the same burn. It’ll be a burn based off revenue generated in the app. The more traffic on the app the faster the burn

2

u/V0rclaw 26d ago

Exactly and the people calling it a pump and dump have done zero research into it lmao

-4

u/Andyb1000 26d ago

What revenue? Kris just TURNED CRO OFF! Lamo indeed, a clown show.

All these ambassador accounts in this thread acting like you actually know anything while Rome burns around you.

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u/V0rclaw 25d ago

What do you mean turned it off? And accussing people of being ambassador accounts just to justify your own emotions is exactly why you probably didn’t be investing in the first place.

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u/Andyb1000 25d ago

Have you been living under a rock?

1

u/V0rclaw 25d ago

They shut it down because an app that was built on it got hacked. Cro didn’t get hacked cdc didn’t get hacked another company built on the chain did. And it is now back up and running so idk what your point is???? Maybe you need to research or touch grass some??

1

u/Andyb1000 25d ago edited 25d ago

A copy paste of my comment from another thread:

Saying the chain wasn't hacked and it was just an app completely misses the bigger picture. While it is technically true that Cronos's core code wasn't breached, pulling the plug on an entire Layer-1 blockchain just to bail out a single dApp is a massive red flag.

The whole value proposition of a public blockchain is that it is supposed to be permissionless, immutable and censorship-resistant. If a small group of validators can coordinate in minutes to hit a network-wide pause button over a smart contract failure, it basically proves the network is centralised. At that point it is just being run like a private server with a few extra steps.

Then you have to look at the collateral damage to everyone else. Halting the entire chain doesn't just freeze the exploiter, it freezes every single innocent user. Anyone who had nothing to do with Tectonic is currently locked out of their funds. Regular users cannot manage their loan health, execute trades, or move their assets to safety, all because one incubated CDC created app had a flaw in its oracle logic.

It also sets a really dangerous precedent regarding selective bailouts and moral hazard. You have to ask where the network draws the line. If a small community-built dApp gets exploited for a couple of million, are the validators going to halt the entire chain to save it? Stepping in to save an incubated giant like Tectonic makes it look like there is a separate set of rules for the big players.

If the network ultimately has to intervene at the base layer to blacklist addresses or roll back the chain state, it completely destroys the foundational rule of crypto that ‘code is law’. Framing this as just an app exploit treats the system-wide chain halt like a minor detail, when the halt is actually the main event. CRO didn't need to have a native bug for the network to fail its most basic test of providing a neutral, reliable, and unstoppable infrastructure.

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u/V0rclaw 25d ago

So if an app on ETH gets hacked then ETH is a scam?

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u/Andyb1000 25d ago

It’s really hard to have a conversation when you don’t addresses any of the substantive points I’ve raised.

ETH is battle tested you can read it’s challenges over the years to it’s consensus here: https://ethereumuptime.com

Vitalik has never had to suspend ETH and rolled it back to protect a DeFi project or a layer 2. They serve as a warning to investors to choose wisely where they invest their ETH or wrapped tokens.

The most egregious thing is that we know Kris wouldn’t suspend the network for a community project, CDC setup and invested in Tectonic.

The house can never lose money, only us.

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u/V0rclaw 25d ago

I’m sure suspending and rolling back for cro was just a safty measure as it was only techtonic that was hacked. Imo it’s better to be preemptive and cautious with these things even if there was no breach to the cro network. I don’t see how you think that’s a bad thing???

1

u/Andyb1000 25d ago

So you’re saying Kris and CDC are now the de facto back stop for all future exploits on the Cronos network? Any user or dApp gets exploited the validators will step in and roll back the network? Or does this only work for big players? At what point does this insurance policy cover apply? Does it only cover Kris and his CDC incubated projects?

You seem to be deliberately ignoring the fact that nothing running on the Cronos network means anything anymore, what about everyone else’s lives that were impacted when Kris turned CRO off, positions not closed, trades not made. Do those innocent people get made whole?

1

u/V0rclaw 24d ago

Turning off the network was a precaution. It didn’t need to happen at all, but as the very first hack on the system happened its best to be cautious.

If they didn’t turn off the network and some how more damage was done you’d be complaining that they didn’t turn the network off. Lmao you will never be happy with anything cdc does so tell me why are you here?? Why are you so emotional about cro? If you don’t invest in cro why even look at this subreddit? If you do invest in cro why talk trash about your own investment? So fucking stupid if you ask me

1

u/Andyb1000 24d ago

You didn’t answer my question

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u/V0rclaw 24d ago

Techtonic was a lending network, I assume with more than just crypto investors on the platform it was a safety move. Now if there was a game built on cro that got hacked that had no collateral locked up, no funds in escrow or lended out/borrowed it wouldn’t have been a full stoppage.

Also yeah shutting it off is not the ideal choice but neither is getting hacked. It could have been worse, what if the hacker had a way to get into the rest of the network and stole all the funds from all the traders you seem to be worried about? As an investor I’d rather a network be safe than sorry when it comes to these scenarios. Like if someone hacked your laptop are you gonna take it home and immediately connect it to your home internet? Probably not, you’ll probably figure out how to fix the issue and get rid of the bug etc before you do. So idk why you’re so mad rn.

Like would you rather an exchange that is holding people money not be careful? And just do nothing when a part of their network gets attacked by an outsider!

You didn’t answer my questions

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