RE: Contest | 25-Word-Comment - Monkey Business | - 6 Steem
Actually, I'm reluctant to comment on these kinds of things for several reasons, but the most important one is that my knowledge of this topic is quite limited. It's better for me just to read or even not know about it at all. But since I've been called out, as a form of respect, here’s my comment:
IMHO: burnsteem25 is one of the most ABSURD things in the Steem ecosystem. I don't give a duck what others think about this kind of thinking.
If the goal is to prevent STEEM from flooding the market (which could lower its price), then the solution should be to reduce the rewards, not to have large votes that generate big numbers, some of which are supposedly burned, creating a cloud of suspicion, similar to kitty's, "Where do the "burned" STEEMs actually go?" Who knows, they might end up in someone's pocket. I have quitted doing burnsteem25 for some times based on this premise. If this means no one cares about my posts, that's not a problem. Like you said the other day, "Steemit is just a part of our life", and yes, relevant to that sentence of yours, it (Steemiting) is not my main profession.
😃😃😃
That's all I can comment on; beyond that, I don't have the capacity nor capability, nor do I want to hit my head too hard at the "Steem-Wall", like your advise the other day, Bro el-n. 😆😆 But I do have questions:
I think if the platform has better content and a stronger community the price will get better too. What does stronger mean?, you can figure it out yourselves.
- What do you mean by "better content" and "stronger community"? (I know you said I can figure out the "stronger" part myself, well I tell you, I can't. Now please enlighten me. 😃😃
- How would better content(s) and a stronger community(ies) uplift the Steem-Money (STEEM, or maybe SBD as well) price?
I am happy to see you accepted the invitation and reluctant or not @el-nailul knows who to invite to rock the... I don't know but know walls can be climbed and tumble down.
Thanks for your comment and make me laugh!
You do know what I am talking about bro @aneukpineung78, we discussed it many times, it is the lesson learned inside the crypto itself. I mean increasing the price is not the simple as holding steem or burning a small amount out of the market. What do we need to understand from the point of view of a trader when we know so many people hold it we will worry that the price will go down at any time they release those held crypto and flood the market, I am right?
We understand one of the fundamental laws in trading that said if supply increases without a corresponding increase in demand, prices will fall. In practice: when there is a lot of selling, it means there is a lot of supply hitting the market. A sudden and large increase in supply, without a corresponding increase in demand, will inevitably lead to a price drop in the commodity.
Applying this to Steem (the blockchain) and STEEM (the currency), it seems that, whether acknowledged or not, with the massive production of STEEM like we have been seeing recently on Steem, it is hard to see STEEM reaching the moon again, even with the stellar support from the Sun. It is hard, not impossible.
If STEEM is sent to @null it is 'burnt' or taken out of circulation and therefore reduces supply.
I am familiar to the concept of burning tokens. I just found it's funny to create so much to burn some of it. I think it would be better to never create at all. I know it's technical.