The return of @burnpost

smooth (70)in #burnpost • 5 years ago (edited)

After a long period of SBD being undervalued or fairly valued, as well as undercollateralized, you may have noticed that SBD has now gone back above $1.

This presents stakeholders with the opportunity to vote a portion of rewards to use the overvalued SBD to buy back and burn STEEM, channeling the SBD overvaluation back into helping support (and ideally increasing) the STEEM price.

This is what @burnpost does, and I will once again begin a series of daily @burnpost post and comments which will use their rewards to buy back STEEM. By voting for these posts and comments you can express your opinion (which I share) that supporting the value of STEEM with overvalued SBD is one of the best uses for the reward pool.

Detailed rules for @burnpost are described in my previous blog posts on the topic and easily accessible as my blog history is pretty small.

Rewards from this post will be donated to @burnpost

#burn-post #steem #sbd

5 years ago in #burnpost by smooth (70)

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cadawg (68) 5 years ago

@smooth, why does @burnpost still delegate to @mackbot-jr, it hasn't been active for 43 days!

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9 votes

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smooth (70) 5 years ago

Nobody told me. I'll remove it now.

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cadawg (68) 5 years ago

I just out of interest looked it up on steemd and saw that so thought I'd tell you so that it can be put to good use. 😁👍

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1 vote

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smooth (70) 5 years ago

Thank you

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anonymint (65) 5 years ago (edited)

@smooth very important I need to get your attention to a very important matter:

https://steemit.com/bitcoin/@anonymint/secrets-of-bitcoin-s-dystopian-valuation-model

What do you think? Plz comment there on the blog if you have any comment. Make sure you read the comments. This is very dystopian if correct.

I hope you can find a flaw in my reasoning. Do you know of any prior art?

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1 vote

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shadonchandra (63) 5 years ago (edited)

i'm extremely sorry, i just don't known about the matter before, now i'm very clear about it. Thanks for your information.

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doctorcrypto (59) 5 years ago

The crowd isn't buying into the vote me so I can burn it camp.
Is there something we are missing?

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sisygoboom (64) 5 years ago

Sell sbd, sbd goes back down to $1, steem goes up.
Burn steem, value of steem goes up again.
Smooth wouldn't gain anything of significance from not doing so.

Posted using Partiko Android

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ats-david (74) 5 years ago

Hey, @smooth - do you still use Steem.chat? I sent you a message a few weeks ago.

I use Discord, if you’re easier to reach there.

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daudimitch (65) 5 years ago

The SBD price would help Steem, got some nice profits from SBD this morning and was able to get a nice bag of Steem...

It may be better to encourage folks to trade on the internal exchange, their SBD for Steem and express the SBD price as traded on exchanges, with time and hodling, SBD would pull up the Steem price...

I still have a different opinion with regard to the use of SBD as I more see it as collateralized tool to take the selling pressure off of Steem, and still maintain returning the ratio back 3-5%. Having a collateral that's ratio is pegged to underlying asset supply would help maintain a far steady price of both asset if both are enjoying good trading volume.

Let see how this phase play out, but I think its more prudent to encourage folks to use the internal exchange to soak up the Steem supply and encourage hodling of the assets and with time we should see both assets especially Steem enjoy a far better valuation...

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