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RE: STEEM BURNPOST Initiative in Solidarity with Steemit's Reduction in Stake Selling

in #steem • 5 years ago

Inflation is a core concept of steem so just ignore that and try not to draw parallels between the two.

Burning token's reduces the overall supply which in turn increases the worth of each steem.

If a company is valued at $1million and has 1 million shares then each share is worth $1. Now if a company burned half of those shares it does not mean that company's intrinsic value was cut in half. It is still worth $1million but now your shares are worth $2 instead.

5 years ago in #steem by
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     5 years ago 

    Nice way to put it, thanks for adding your thoughts.

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     5 years ago (edited)

    Thank you for your valuable comment @gnimeets

    ps. I've noticed that you didn't post anything in 2 years. how come? Are you back?

    [-]
     5 years ago 

    No worries lads.Yeah I'm back. The last two years have been kind of crazy for me so my focus was pulled elsewhere. Pretty much just came back to do a little recon to see if much has changed. Things do not seem to have changed that much but they are changing.

    Steem still has massive potential and was my first investment outside of bitcoin. I guess you could say I am back due to some form of nostalgia. Over the next few weeks I intend to buy 10k sp and work from there. Very few projects(maybe none) have the potential that steem does.