RE: Let's burn some steem... I need your help.

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RE: Let's burn some steem... I need your help.

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freddio in #burnsteem • 6 years ago

Idk why burning should makes sense?

if there are more ways to use steem power on steem, the demand should increase automatically.

I think when SMTs come on steem, they should be able to be equipped with RC by burning steem in them.

Like you create a token and burn 100k Steem in them.

Now the RC are distributed to the tokens that were created.

maybe because you can not vote with the Steem power you burned, a few bonus RC.

I think if a burn comes in place, it should be a real use case and not artificial.

@aggroed

Is it possible to fork and halve inflation?

Because actually we have with SBD anyway a much too high inflation. That should be a better way then burn or what do you think?

It should be really positive for Steem and all holders. Like the 8% (maybe much higher) to 2%-4%.

I would love a fork like this

6 years ago in #burnsteem by freddio

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marki99 6 years ago

Yes demand for Steem Power will increase but at one point if everyone gets on steem than there is no one outside to get more Steem Power, so it's not a final solution. And in the meantime, the price is getting destroyed, which doesn't help development on steem, which makes people leave.

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freddio 6 years ago

but with the SBD conversion we had last year arround 15% to 20% increase in steem supply. I dont think it will destroy something if inflation goes to 4%.

In future if the reward pool is shared with 10 times more users, that will be also feel impossible to earn a lot of steem.

So it makes no difference.

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marki99 6 years ago

SBD conversions are going to stop at some point. When steem starts to go up, sbd creation will do the opposite, it will reduce the inflation of steem, making it very scarce.

So SBD Is bad in bad times and is good in good times. It just makes steem very volatile, so that when it crashes, it crashes more than other coins. But when it pumps, it will also pump more.

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