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RE: Upcoming changes to MinnowBooster - 🔥 BURN PROMOTION SERVICE! 🔥
There is only one answer which I don't see in the replies to this comment (weird).
Burning Steem decreases the supply, which is the number of coins on the market. As the market cap of steem does not change, this means that the price of steem goes up.
You want to give money to everyone, well, the price going up does exactly that, it gives money to all steem holders. However, creating new steem and distributing it to everyone equally will not really give money to people because the price will move down (since again the market cap doesn't change).
The market cap is the value of all the steem coins together.
So, when you see burning, it means that everyone holding steem is benefitting from it equally.
Hi @marki99 Thanks for the reply.
I have heard all that before and on one level i can imagine people would love it to work out like in practice, But I do not believe it will.
It is my opinion that rather than burn the Steem they should distribute it to small accounts who will use it for curation.
When I started here there were people interested in exchanging goods and services with Steem which is the way we should be going. However the platform as whole was sidetracked with short term profiteering. The rules are still there for the most well endowed with Steem but they are not so well endowed with intelligence.
Distribution is everything