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RE: Feedback Wanted: 4 Week Power Down
I dont like the idea of a burn. I dont see any benefit for Steem to do that.
Burn means Steem is not a valuable resource, otherwise it would be a donation for instant powerdown to Steem DAO.
If you need to burn token the design of the token is bad.
One of the reasons for the high bitcoin price is its scarcity, whereas STEEM still has a rather high inflation. In my opinion burning some STEEM helps to curb the negative effect of inflation on the value of STEEM - at least for now.
dont get me wrong but with onboarding and more usecases we get the same effect in a more sexy way.
Steem is not Bitcoin.
If we remove current SBD from rewarding and make a Version like DAI out of it, we have the same effect beacause Steem get lockt up and less ( not control able) inflation.
And nice site effects like a real scalable 1$ pegged Coin on Steem.
I think things should be build for longterm and not for shortterm.
No problem, that you have a different point of view than me. I know what you mean, STEEM is not mainly (only) a value storage but also a fast and flexible blockchain with many possible use cases. Sure, there is a difference between STEEM and bitcoin, but for now we have no 'mass adoption', yet, just a crypto currency which is losing more and more of its value (which not only hurts current stake holders but also makes it less attractive for potential new investors).
I wrote "for now" I like the idea of burning STEEM, because I think that at least at the moment inflation, the fact that Steemit, Inc. is selling lots of STEEM and other reasons are causing an already long-lasting price decline pressure.