GentBG(Gentlemen's Burning Gallery): 20250707
Gentlemen's Burning Gallery(신사의 소각 화랑) by @joviansummer(witness: @jswit)
GentBG - a new experiment to burn STEEM
The purpose of this project is to BURN liquid author reward, to influence STEEM price upward by reducing supply. If you like this project, please consider voting for @jswit as witness. Thanks!
- Panels will be removed after 7 days.
- The number of removed panels will be determined by liquid reward. Currently it's roughly 1 panel per 1 STEEM.
- Liquid reward will be burned.
- SP reward will be delegated to @jsup to get amplified upvotes and burn some more STEEM.
What happens with a big vote...?
Your big vote will remove all the panels from this image and burn a big amount of STEEM after payout(the whole process is automated except image generation). Every Sunday stat will be posted so that anyone can check how much STEEM has been burned. Thank you for your support!
Just an opinion - If you set 100% post reward to @null then all the rewards will be gone for the burning. And it will attract more users to upvote on the post seeing all the rewards are subjected to burn STEEM. What do you think about this idea?
The key idea here is to create an automated burning loop with some kind of "baseline" amount. That's why SP reward is delegated to @jsup to get upvotes. With @jsup's voting, it will burn certain amount of STEEM even when no one gives upvote. STEEM has infinite supply(no supply limit), and I think we need a certain degree of perpetual burning to counter inflation.
Hi @joviansummer!
I am still stuck with my idea to burn all the Steems from a specific post. It is also an automated and fast system. I have noticed many times all the Sc0x curators are very much willing to support the content which set beneficiary to @null. Personally as a curator I also prefer to support those posts which are supporting burnsteem25.
If I go with your idea that seems very slow as well as the SP will retain in the system and anyone can use that SP at anytime by powering down.
So we need a system which burn all the STEEM from a specific post. I am also willing to run similar campaign on a weekly basis to burn 100% of rewards on that post.
Moreover I would like to invite the curators (@steemcurator01, @steemcurator02) which idea they support as we cannot run this campaign without their support.
SPOT-LIGHT TEAM: Your post has been voted on from the steemcurator07 account.
This project is effectively burnsteem50, because liquid part(50%) of author reward is transferred to @null.
I see your point, but @gentbg's code is already in place and also there is a practical problem to consider. Who will fund the development/maintenance of the system that will burn all the STEEM? Unfortunately server is not free and AI is not cheap, and I'm doing this project with my own money/time/effort. It's a real challenge because I've already spent more than enough money for years to do my dev projects.
I think it's much better to have multiple projects to counter STEEM inflation, so it will be great if you come up with your own experiment. Thanks!
Ah, it's a kind of puzzle. So 1 steem is one GEntBG removed?
Will you burn more Steem if people vote for you?
Burned amount is proportional to upvotes just as author reward is.
Эээ... :)