Burnt US Dollars
Creative
art project
SHOW HN2025
9points
6comments
#3,107of 3,837 in 2025
Top 81%of 2025 by points
How HN took it
QuietFewer than 5 comments about the project
0 positive, 2 neutral or asking, 0 mixed, 2 critical, out of 4 comments about the project.
Idea: 0 for, 2 against
The thread, comment by comment
Each row is a top-level comment and its replies, in HN's order. Select a cell to open that comment on HN.
positive neutral or mixed critical about another commenter or something else the maker
What HN said
What people liked
Burning dollars is a better peg than a stablecoin since value is locked on-chain
From 1 comment
Frankly, this is better than a stablecoin since the value is locked on the blockchain forever no matter what.
scyclow on HN
Objections
No redemption to USD and no ceiling, so it is not a real peg
From 2 comments
I understand the conversion from dollars to coin. What about coin to dollars? There’s a floor but no ceiling, so I don’t see how this is a real peg.
grafmax on HNThey address this on the site: >bUSD is not a stablecoin. It can never be redeemed for USD, and may trade at values other than $1 for extended periods of time.
etskinner on HN
Burning currency is a federal crime
From 1 comment
It's a federal crime a federal crime pursuant to United States Code Title 18 (CRIMES AND CRIMINAL PROCEDURE), Part I (CRIMES), Chapter 17 (COINS AND CURRENCY), Sec. 333…
scyclow on HN
Disliked as art
From 1 comment
I am surprised this is legal because I thought currency was property of the state. For example melting low value coins for their metal used to be illegal. I know that damaged…
ptsneves on HN
Questions
Is destroying currency legal?
From 1 comment
I am surprised this is legal because I thought currency was property of the state. For example melting low value coins for their metal used to be illegal. I know that damaged…
ptsneves on HN
How does coin convert back to dollars?
From 1 comment
I understand the conversion from dollars to coin. What about coin to dollars? There’s a floor but no ceiling, so I don’t see how this is a real peg.
grafmax on HN
Alternatives named
Luna Classic burn and mint mechanism
From 1 comment
An unusual property of this mechanism of creating a stablecoin is that the bank no longer holds the funds that back the stablecoin. There's no possibility of the bank locking up…
_jsmh on HN