RE: #BurnSteem25: A Solution to Inflation or an Unnecessary Sacrifice?
GitHub is one #rabbithole I haven't visited yet in terms of learning. I think I should, though, after hearing all of the good things that can be had from the site.
Here's a question: Would giving that same 25% to a person/cause in need here on Steemit be a better use of that "burnt" crypto? Technically, it doesn't pull the coin out of circulation, but it does go to good use. I guess the 'end-cause' is good, but once I look at it typed out, it doesn't quite click the same boxes. There has to be some medium ground on that somewhere where the coin doesn't get "wasted."
By itself, the #burnsteem25 initiative barely makes a dent in the overall Steem supply, so if it's ever going to be significant, I think that the payoff to people who burn tokens needs to be higher in terms of audience size. Burning tokens to get tokens is just marginally better than spinning a metaphoric gerbil wheel.
Theoretically, nothing is wasted. The value from the burned tokens gets spread out among all the other STEEM/SP/SBD, in the form of higher prices, so the value doesn't go away. Just as much value would still be available for charitable causes.
In practice, of course, there are many other factors in play - so it might or might not work out that way.
I'm generally suspicious of Steem's charitable initiatives, though, except in a few cases where the organizer has established a reputation and provides strong transparency. I've seen too many "fly by night" initiatives over the years, where people took advantage of peoples' empathy.
On github, I wasn't really expecting you to install it. Just demonstrating that it exists. One of these days, maybe I'll learn how to package these up for the chrome extension store. The way I have the extensions now, some technical background is needed. It's less than ideal.
0.00 SBD,
1.37 STEEM,
1.37 SP,
0.00 TRX