-- Analyzing the impacts of token burning events on cryptocurrencies, and juxtaposing this with the burning of the black community Greenwood in Tulsa, Oklahoma and the impact of this burning event.
- Yahoo Finance! inside of Jupyter, to get crypto market pairings ETH-USD, XLM-USD, USDT-USD and BTC-USD
- Seaborn and Plotly for data visualization
- Focused on time series data surrounding 1) the network's token burning event or 2) the network's implementation of a token burning mechanism
Token burning describes the process some crypto projects implement in order to reduce token supply or control the token supply. Tokens are sent to an address that cannot send the tokens anywhere else, in effect "burning" the tokens and reducing the token supply. Token burning events have occurred for stablecoins, after ICOs, and most recently the Ethereum network implemented a new mechanism which now burns transaction fees, thus shifting ETH from inflationary to deflationary.
What does token burning have to do with the 1921 attempted white mob destruction of Greenwood in Tulsa, Oklahoma?
This analysis involves comparing the burning mechanism implemented in crypto, and the burning mechanism implemented in Tulsa. The key questions asked here:
- What components go into burning mechanisms in crypto vs. during the 1921 destruction of Tulsa?
- What are some of the motivations behind implementing burning mechanisms in crypto and within communities?
- How did the white mob burning mechanism implementation impact wealth disparity in Tulsa, OK?
- What types of web3 components exist that can help protect from white mob burning mechanisms?
- What is the impact on a token's price when a burning mechanism is implemented?
- How might the black Greenwood community in Tulsa, OK look today if it were not destroyed by the white mob?
This visual shows price data for USDT-USD. We can see the price activity around when burning events were implemented, to reveal a network, currency or group's potential motivation; the goal to stabilize token value, or increase token value.
This visual shows Bitcoin and Ethereum time series market data during the same time period, August 2021. Comparing these two coins shows the relationship that exists between Bitcoin and Ethereum price movement, which shows there could be more influence on price movement beyond the token burning mechanism being implemented.