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RE: Moving to hive

in #steem • 5 years ago

Something that requires steem to be burned, one thing that investors/speculators look at is the inflation rate so we need to offset the new steem to help lower liquid steem supply

5 years ago in #steem by
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     5 years ago 

    Even though I'm burning PORN while it's just getting up and building their user base, I don't believe this is a long-term solution. It's been tried many, many times by many different tokens and rarely does it work out for the better.

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     5 years ago 

    Maybe if we introduce a CD model, where you can lock steem up for months/years for a return. Also implement a penalty if you unlock your coins before the terms expire. The longer you lock it up the more return you will make...

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     5 years ago 

    There isn't a lot of options to burn steem. As someone who provides a service burning steem as payment doesn't pay their expenses, labor, or give them any profit.

    Some use cases where Steem can be burned:

    • SMT token creation
    • Community creation
    • Promotion mixed in with trending

    The first two wouldn't likely burn enough Steem to really make any difference. Three is the best hope and even that won't even remotely keep pace with inflation.

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     5 years ago 
    • Steem fees to swap SMTs? I know we want Steem to remain “fee-less” but I feel like some fees need to happen that scale with use. Steem would remain free to transfer, etc so I think we could maintain the “fee-less” slogan
    • Instant Power downs that scale with amount powering down and time? Say 10% fee for 1 day, 8% for 1 week, etc.
    • fee to use more than X number of tags on a post? For people who want to try to earn 6 SMTs, you will need to pay for that privilege
    • fee to increase payout window for post beyond 7 days? Each vote would still take 7 days to payout but if you pay a fee, your post can earn for let’s say 1 month instead of 7 days.

    Just thinking out loud here.

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     5 years ago 
    • Fee to directly publish your post on someone’s feed. Say I want you to see my most recent post. I could pay a fee to have it show up in your feed. That could lead to problems but at least Steem would get burned. It would be like promotion but in a different way. Say a company wanted to send their product advertisement directly to people without people needing to find it in trending. Users would have the ability to ignore these.
    [-]
     5 years ago 

    Hi @sepracore

    In my opinion "free to use" and "no fees" is just a marketing tool, that is misleading everyone around us. Maintaning nodes and entire infrastructure is costly and we're ending up witnessing STINC dumping tons of STEEM on montly basis - just to cover those costs. Hidden cost, that's what it is.

    I rather pay small fee for each transaction.

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