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RE: Thoughts on a Proposal to Buy and Burn STEEM using the DAO
It is an interesting premise and I wouldn't be opposed to testing the theory but it seems like the ability to pump SBD in the past has caused STEEM to pump. Like I said I'm not opposed to it but in some respects I wonder if it makes more sense to actually spend the money to build and promote the ecosystem. There haven't been as much of that and it is interesting that STEEM and HIVE still have somewhat similar market caps.
Why not do both
Certainly should be able to in a lot of respects. We could do so much with that considering there is over $9 Million sitting there basically.
Yes, there is that, though there is nothing stopping outside groups from pumping SBDs should they so choose. Selling 100 SBDs per day is literally nothing, and even if we ramped up to the full amount of 2,400 per day, that is still only $5k worth of selling at recent prices... not likely to have a huge impact either way. If we decide to increase this amount at a later date then this might become more of a discussion I think.
It is an interesting mental exercise. Selling the debt for the base asset.