RE: Which should I choose for post promotion -- Null beneficiary or SBD transfer?
I agree that we should start deploying @steem.dao funding again, but I'm not a huge fan of burning it. Personally, I'd rather see the community put out an RFP for professional services by proven software houses, marketing agencies, and/or content producers and use the SPS to grow the ecosystem here.
As discussed in another post, I think that burning tokens in exchange for post promotion is sort of like buying a service from the blockchain, so it makes sense, and I think TRX offers compelling evidence that it supports the token value. Just burning the tokens in exchange for nothing strikes me more like cannibalizing the ecosystem.
Incidentally, I just noticed that a new proposal was added earlier this month. That's the first (credible) proposal that I'm aware of since HF23 happened in 2020.
In my entire history in STEEM and crypto more broadly, I have hardly ever seen any of these things create more value than they take... Therefore, I would only support burning of said tokens, not to support something that inevitably ends up taking more value than it creates. It's a nice idea in theory, but in practically almost always ends up being a net negative.
I sort of agree, but I haven't given up hope. That's why I specified a "proven" supplier. Before the fork, there were too many rewards going to fly by night operators who wound up delivering little or nothing (except a forked chain).
I probably wouldn't be opposed to shutting the whole thing down and doing some sort of managed burn as part of the shutdown.
Yep, exactly @remlaps-lite. Well said.
Here's what I would like to see...
I'd like to see the DAO shuttered completely and the inflation allocated to it returned to the authors/curators from which it came, and I'd like the funds currently sitting in the DAO used over time to buy/burn steem. Thus putting a bid under STEEM and also pushing SBDs back towards the one dollar peg...
To me this sounds like the best use of resources given the current environment.
My big question is, who would we trust with that amount of control while the funds are being burned? I guess it wouldn't be easy to automate a program like that.
I remember reading something about multi sig operations? We'd presumably have to get multiple clearances on each transaction along the way from multiple parties not related to one another?
Ah, yeah, that's a possibility that I hadn't considered. I'm not sure how well Steem's multisig capability has been tested, though. I'd like to see it proven for a while with smaller amounts before we trust it with that much value. Could be rock solid, but it's beyond my expertise to know.
Remember POW mining and @supercomputing?