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RE: Burning DEC! | Enter The Untamed Era | December 2019
Well if ever the burn rate decreases you can simply increase the price of the cards and packs to offset it. I think that's where steem should be going with its promotional services where you set an amount you want to burn say $1 to promote your post which is now 7.7 STEEM now if more people are burning $1 to promote their posts then it becomes an auction for views, same with Facebook and Twitter.
So you'll need to pay more for the same or higher views and interactions. This increases the need to burn more steem regardless of the price of steem because you want a certain value from the platform
Interesting view, and implementation for STEEM.
Basically your are selling this digital good (packs or promotion) for some fixed $ value and in that way provide stability for the token. But this goes for the upper moves as well :) You will cap the price.
That’s why it can’t be the only thing you can purchase, the more products and price variety like in the individual cards and add ones still provide for price discovery!
I mean the packs you buy are 2000 DEC but you’re not gaurenteed that you’ll get 2000 DEC worth of cards it could be duds it could be rares so the pack provides the base the cards themsleves provide the price discovery
Which is why I also say the attention from promotions needs to be an auction so people will go looking for the best bang for buck! Should I promote via esteem or steempeak or on a a tribe site or steemit to get the most votes or views for my purchase/burn of the token