RE: Steemit Engagement Challenge Week # 4 | Propose A New Steemit Project| Steem Burn by @rosz
This is a great idea of you dear.
You have indeed showcased your critical thinking level.
But, I think burning steem is of less relevance, since there exist the various clubs which serves as burning to boost the ecosystem.
Imagine being in club75 or club100 and also burning %25 of the rewards.
What do we gain in return?
If burning steem will call for extra curation rewards, then the burning account will receive those extra together with the normal ones, leaving the author with nothing, since the clubs exist.
This is my personal opinion though, I think if the burning would take place, the clubs should be abolished or decrease percentage-wise.
But, it is always good to try something new, and as you suggested, the whales should lead with this initiative, if they are indeed willing to support this proposed project.
it's better have 1 steem to 1 dollar , than 5 steem to 0,1 dollar but
club100 or club50 stays in your account, you can earn on the curator rewards, I know it's not much but it's something, I think it's all a matter of trying
thanks for reading
Okay, I respect your opinion.
So, for example, a steemian is in club75, burns 25% and set a minimum of 10% community beneficiary concurrently, how does such person earns?
I think the burning will rather affect your club status negatively, since the burned steem could have been used to power up instead.
Note: the example I used is just a case study, and besides we agree to disagree.
Steemians are expected to build themselves, together with the various communities and this can only be achieved through power ups and good content production.
We need to consider things from different angles.
Have you considered the effects of the burning on newbies?
Maybe you can stand it, the idea will scare others, although it may be portray as optional.
You made mention of how some platforms are utilizing the burning mechanism to improve their projects, but mind you, those platforms are not into clubs, therefore our mode of burning is the criteria to join either clubs, which is way higher than 25%, and contribute to the steem ecosystem.
To me, even if this proposal is embraced by mear steemians like us, it will have no effect on the price of steem, since the big guys control the market. Therefore this idea will only work, if the whales together with the Steemit Team employ the burning mechanism.
We want the betterment of the Steem ecosystem, but if care is not taken and we decide to hastely implement some unpleasant measures, the case will be vice versa of the expectation.
Thanks for the response, dear.
I understand your point of view, everything does not have to go through burning, you only do it if you want to do it, but burning some steem helps the economy, in binance they do it with BNB
thank you for your time and your comment
There are various ways the Steemit Team can employ to attract investors, who will help increase the value of steem.
When was the last time you saw a promotional tweet on/about steem? Either by the team or prominent crypto gurus.