You are viewing a single comment's thread from:
RE: Upcoming changes to MinnowBooster - 🔥 BURN PROMOTION SERVICE! 🔥
The answer is simple, because there is no way to tell which of those "small account" are holding by real people, and this is definitely easy to be gamed by one creating tons of alternate account to receive those tokens. Burning however, works in a sustainable way to continuously benefit the community as a whole. The effect might be slow, but certainly guaranteed in a long run.
haha Its not difficult to figure out which are new accounts they all have the same delegation!
Burning lets the world know that Steem has so little value we need to destroy it.
The real reason it is done is something is protect scammy profiteering
It's all about supply and demand. If there would only be 1 steem in the system and 1000 who wanted it, well that 1 steem would be much higher and equal to the same value if there would be 1000 steem available. (in theory). So by burning steem you make each other steem more valuable. Thus, helping everyone that already has some steem, including if it's just a small amount.
I don't know if you noticed but steem is closing in on 0 value. So burning steem is a great way to help preventing that. Trust me you rather want 10 steem worth 1 dollar than 1000 steem worth 0.0001. it also helps fighting the inflation rate.
Of course burning steem is not gonna make all this happen, but if enough are doing it you will eventually see its effect. For every steem we burn its a steem less that could be sold or that takes a share from the steem in the pool = more steem for everyone.
Posted using Partiko Android
I am not buying into that story.
They have fucked up by chasing away investors. They started up scammy ways to make Steem which did not end up working, now they are fucking things up even more in their panic and burning it lol .
The best plan would be to distribute it
I agree 100%.