Steem burn post experiment
All rewards from this post and comment will be burned (sent to @null account) and proof will be posted after 7 days in the comments. If you want to provide additional support, vote for comment below. This post will be updated and more information, rules and proofs will be posted in the coming days.
Post rewards: 50% SBD / 50% SP
Account will be powered down and all STEEM, SBD rewards from this post and comments below will be burned with proofs.
What means to burn STEEM and SBD?
The main reason for burning a cryptocurrency is to increase the value of the other tokens that are in circulation. Many cryptocurrencies have a finite total number that can exist and therefore, assuming the demand for the token remains the same, the value should theoretically go up if there are less in circulation. This idea stems from the notion that there are fewer tokens to satisfy the overall demand for that particular cryptocurrency making the one that do exist more desirable and therefore valuable. An increase in the demand for a cryptoasset can be noted by a consistent rise in the price of that particular token combined with growing volume.
To provide additional support, also vote for the comment below.
To provide additional support, vote for this comment. All rewards from this comment will be burned as well.