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RE: The Curation Project of the Burning Bid-Bot
Hy is 5% od curation rewards burnt and what does that even mean? Lol sojnds interesting,but I'd like to understand this project a bit better.
Hy is 5% od curation rewards burnt and what does that even mean? Lol sojnds interesting,but I'd like to understand this project a bit better.
sbd get sent to @null an account where all funds get locked aka burned
I doesn't make any sense? Why do you do this?
Supply and Demand
I don't get it , you will have to explain a bit better than that.
The goal of burning sbd/steem is to lower supply. With less supply and since their is still demand the price of sbd/steem increases. The law of supply and demand. Steemit does this already in the promoted tab. More burning more price.
This is like communism, a good idea on paper, but not in practice. From what I understand the point of this project is to help minnows, but you are throwing away money that could have been put toward minnows, because while you are throwing away/burning steem and SBD, whales like @haejin , @grumpycat are just cashing on while minnows lag behind.
Actually burning does work look at binance coin. They do a burn from the money they made raising the coin price for all. Also only 5-10% of burned the rest will go to to newbies helping projects once the project has reached the 100K steempower milestone