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