RE: Report as Steem Representative, 25.05.2024
Thank you!
I have to admit, I still don't understand that Burn 25% movement. Well, I understand its financial goals but personally I question its efficiency.
I just did an experiment and checked the top trending posts on steemit, none of the first 20-30 posts has it. So burn 25% looks like to be designed for those who have small or no stake and the whales just don't do it. So, that all just feels like another way to have the attention of the curators.
I ask myselft, what would prevent a user who does that burning for months to do a full power down, withdraw everything and then repeat the cycle? 'Cause I am sure the small guys try to mimic the success of the big players by doing what they do and follow the example ;) So at some point that burning won't feel right.
I believe the content shouldn't be estimated mainly by what has been set to be burnt and while I see the usefulness of this extension I think some good content will not be supported especially when the moderators are busier, right :)
Just my two cents, wishing you a great Sunday!
I felt that way right from the start.
I also never understood what the point was. What is better? Not producing Steem at all because the content of an article doesn't invite votes, or burning Steem that wouldn't have existed under "normal" circumstances?
I really couldn't tell which one of those is better :)
Burning is always helpful long-terms as it decreases the inflation of STEEM as it is, in my understanding, endless, as contrary to Bitcoin, STEEM doesn't have Max. Supply, right?
Perhaps much better for the future of STEEM would be if there are top investors who aren't faceless and famous people are somehow attracted to the blockchain.
I read crypto-related news on a daily basis and I never saw anything related to STEEM, like... ever.
Publicity is good, right? However, if the big whales here don't want such publicity and also prefer to rather stay anonymous forever, then this raises some serious questions... Anyway :)
I see there are users who upvote only posts with Burn 25% and this already changes the landscape a lot...
You're right, none of the big players ever burn anything. They don't want to lose their money. And they don't seem to care about the long-term prospects of the STEEM token.
It is impossible to say that burning does not give anything at all, because burned tokens will not be sold. But yes, this is more of a way to attract curators than to achieve real market goals.
I still hope that someday we will get closer to the point where the more interesting the content, the higher it will be rewarded. Only this approach can create a healthy economic model. Competition for quality always leads to the movement to the best.
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