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
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