RE: Proposing another controlled burn from the Steem Proposal System [burnsteem100]
I'm very glad that such a proposal has appeared. What is this, if not a manifestation of community action and decentralization? This is exactly how the community should act, not endlessly waiting for some mythical big investors.
I'm not a big economist, but I don't expect this offer to have much of an impact on the price of STEEM. Once you get SBD from SPS, you exchange it for STEEM, and then burn it. Over time, this will cause the value of SBD to depreciate. Then you start burning SBD. But this SBD is from SPS, not from the free market, so burning like this can only affect the price at a psychological level.
Despite this, I remain a strong supporter of your proposal. Practice shows that predictions usually come true with a probability of 15% :)
For the community, I want to point out that the authors of the proposal @remlaps and @moecki deserve 150% of our trust. They are long-time and loyal supporters of Steem. I encourage everyone to support the proposal and see what happens :)
Thank you very much!
But as remlaps already wrote, this is more of a collaborative effort. Let's hope that there are other projects that can be launched in this way.
I agree with this:
And this:
From what I can tell, the SBD price is basically controlled by the haircut price right now, and we're not talking about big enough percentages of the STEEM supply to move the STEEM needle very far. If we burn enough STEEM, I think we will probably be able to see the effect in the observed daily inflation, but I don't expect to have much direct impact on prices.
But, what we're learning and demonstrating here is an ability to take strategic action as a decentralized community. Over the long term, I believe this is far more valuable than the burn activity, itself.