- What we've been doing for six years hasn't worked.
- We can see here that Tron has been deflationary for six months or more, so it clearly took some time for TRX to get to where it is.
- The point of burning should be to make a "value for value" exchange with the blockchain, not to arbitrarily destroy tokens, and not to raise the token price. In the case of TRX, the value funds transaction fees and USDD minting. In the case of STEEM, it's a possible exchange for visibility and audience-building.
- The price increase should be seen as a nice downstream effect, if it happens. It's more important to discover whether it can be a competitive lever to help authors to establish themselves.
- No one is asking anyone to participate who doesn't choose to.
- If token burning doesn't produce sustainable value for the people who participate, it will die on its own, just like the /promoted page did in the past.
How 'bout giving it 3-6 months with an open mind? Then if it doesn't work out by September or December, you can say, "I told you so." ;-)
I understand what you mean and indeed the time will show if it was right or wrong. The fact is that many users are pulled into this Initiative because of...getting Upvote from SC accounts and that is frustrating it is a new Hype. First people were trying to Power Up now they are burning their steem despite of living in developing countries.