You are viewing a single comment's thread from:
RE: Upcoming changes to MinnowBooster - 🔥 BURN PROMOTION SERVICE! 🔥
Some people/groups/bots are burning 1% of their money. Others are burning 3% or 5%. Some might burn 10% or more. What about 50%, or even 100%? Think how much good we would be doing for the Steem blockchain, if we all just deleted all our money and went to zero! Think how valuable it would be, if there was almost none of it left?!?
It's basic economics that printing money via inflation devalues a currency. Steem has an 8.6% annual inflation which reduces by 0.5% per annum, the burning helps alleviate the oversupply. I would agree with you if Steem was a static supply token, however it is not, more gets printed all the time that can be dumped on exchanges to lower the price, bruning helps reduce the selling pressure.
If the steem user-base/economy grows at 8.6% annually, then the -inflation- is essentially 0%.
Yes correct, 8.6% is not a big ask in terms of growth, however it has been rather dwindling of late.