Edition-2: How do I contribute to burnsteem25 project.
Contest!!! Edition-2: How do I contribute to burnsteem25 project?. |
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Introduction |
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Hello everyone greetings to you all. I trust that we are doing great by God's grace. My name is @newtonb and I come again today to take part in a very important contest with the title Edition-2: How do I contribute to burnsteem25 project.. This contest was organised here in this community @steem4bloggers by @solaymann. Thank you. So in other to participate in the contest I will be giving answers to the following questions asked by the organizer. Follow along with me.👇
What do you know about the Burnsteem25 project? |
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The burnsteem25 project is a project that was started with the aim of increasing the value of steem. Just like any other crypto currency, steem looses it value when it is too available in the market. And so in other to help steem to regain it's value, a system has been adopted which is called burnsteem25. This means that we transfer 25% of our post earnings to an account that cannot be accessed called @null. So that is called burning in cryptography.
This account was created and the keys has been disposed so that the account will Never be accessed. Nobody has access to the account, it was created and locked forever. This is to cause the scarcity of the steem coin in the market just like any other crypto currency thereby causing the price to increase.
Share your contribution to the Burnsteem25 project. |
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My contribution to burnsteem25 project has been a successful one. Since I got to discover the importance of burnsteem25, I have always set my posts to a beneficiary account @null allocating 25% of my earnings to it. In other to contribute to the scarcity of the steem coin. That process is called burning in cryptography.
Below are some of my posts that I have set to the burnsteem25 @null account.👇
Burnsteem25 support Post 1
Burnsteem25 support Post 2
| How to set burnsteem25 |
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After typing your post, click on advanced settings as shown below.
After clicking advance setting, the above window will open, go ahead and click add account.
After that input the beneficiary. In this case it is null then enter 25%. This means that 25% of your earnings on that particular post will be sent to @null and 75% will be sent to you. When you are okay and sure you click on save that's very simple.
How important do you think the Burnsteem25 project is to the development of STEEM? |
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I think that the burnsteem25 project is a very important project to help steem increase in price and value. We are looking forward to a day when 1steem will be worth $1. That will only be achieved if we all embrace the burnsteem25 project for all our posts. But the problem is that many steemians have not yet understood the concept of burnsteem25 so they are still very skeptical about setting 25% of their funds to the @null beneficiary.
Why would you invite other steemian to join the Burnsteem25 project? |
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I will invite other steemians to join the burnsteem25 project because together we can promote the price of steem. We can make steem to increase in value if we all take part in burnsteem25. It is a very good initiative for the growth of the steem.
Conclusion |
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In conclusion, I recommend that many sensitisation should be done by the authorities of the steemit team in Other to help people understand the importance of burnsteem25. This will help to engage more people in it thereby increasing the value of our precious steem coin. This my post can also be of great help to someone who has not understood the burnsteem25 project. So please feel free to share.
I invite my friends to read and also contribute to this contest @napito @yuswadinisam @majerius @wintia23 @bongk @drhira @rezvan @peace-woka @tarazona14 @thomisin @elrazi @nabeelsaqib @fombae
Dear @newtonb Thank you for sharing your Quality Blog with our community. Your Post Information has been given below:
Thank you so much for sharing your idea about burnsteem...
Try to engaged with other user's posts through commenting and interact with others by replying.
Much regards : @chiabertrand
Thank you so much sir @chiabertrand for the review.
Thank you for your continued contribution To the burnssteem25 project. Allocating 25% of your earnings To a @null Receiving account is a great move To support the Steem coin's scarcity and Increase The value of the asset.
Burning, which is a process in cryptography, is an effective way To reduce the supply of coins and increase the value of certain cryptocurrencies. By burning Steem coins through the burnsteem25 project, you are playing a role In maintaining Steem's scarcity and pushing its price up.
Your contribution is a true example of how individual actions can have a positive impact on the crypto ecosystem. By engaging In practices such as coin burning, you help promote awareness of the Importance of scarcity and increase the sustainability of the Steemit blockchain.
Continue your great efforts in supporting the burnssteem25 project and contribute your part In maintaining the balance and growth of the Steemit ecosystem. May your efforts continue To yield positive results for you and the Steemit community as a whole.
Good luck
Thank you so much my brother for this great contribution.
Taking this burnsteem25 project serious is very important because it will help us all in the steemit Platform. Burning is not easy because one has to sacrifice part of his coins but It is very profitable in a long run. Because it is better to have few coins which is Worth more than many coins with less value. Imagine if one day one steem becomes just $1, it will be a great Achievement to everyone.
Therefore let us keep promoting the use of burnsteem25 project.
Thank you once again for your input.
Happy New week!