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RE: Thoughts on a Proposal to Buy and Burn STEEM using the DAO
I am not following exactly what you are saying here... If a proposal was created for SBDs that were then sold for USDT (instead of sold for STEEM on the internal market), the end result would be the same as our proposal of sell pressure being put on SBDs no?!
The grid bot operation mechanism is shown in the animated picture:
In this way, the bot not only sells, but also buys back at a lower price. That is, it many times buys at a lower price and sells at a higher price, thus generating profit. The profit generated can be used to buy STEEM and burn it further.