Burn Steem, burn!
A week ago I found @smooth's burn experiment - which consist of sending the reward from the posts to the @null account where they are made into nothing (which they like all money somehow were already).
(From now on it will be happening here: @burnpost )
I understand the concept - which can be summed up to: burn Steem to lower awards in a time of excessive rewards and lower inflation a little for the common good of the Steemit community - but I also like this thing about burning money just out of sheer monetari-pyromania and because it resembles sacred offering to the Gods, just like you do in the East.
It is probably therefore I returned a couple of times to see how it went with the cremation.
The only thing that bothered me was that the posts seemed a bit colourless (always the aesthetic angle, right?), so I made a small digital painting to add a bit of colour to the sacred crypto fire.
The image is now used in the new account where the burning will take place:
@burnpost
Whether to let one of your votes burn or not is very much up to you and your ideas about what is best for Steemit. I vote "by hand" and tries to support as many good artists and bloggers as I can, but I have voted a few times just to satisfy my virtual pyromania.
Whoa! What a bold/fascinating concept.
-Now, I've spent years on and off trying to figure out that thing we call Money. Mostly it seems like voodoo, but I certainly have come to a few revelations including:
"What? It's all DEBT??"
"Wait, wait. Just hold on... You mean nobody really knows who owns the Federal Reserve? I thought it was the U.S. government, but it's not..? Like.., seriously..? This isn't science fiction?"
"Okay, Whoa, now just hold on a minute... So if every bit of currency, like ALL of it, is owed back at some point to the central bank -with INTEREST- then.., what do we pay back that interest with? I mean, if all the money came from them in the first place, how can we possibly have the extra to pay the interest..?"
Leading to the alarming thought...
"But that's spectacularly scammy! That implies the whole system is designed -deliberately- from the outset to collapse and turn into a giant foreclosure bonanza for the banks! Like.., they'd just outright own all property and pretty much all our future working lives to pay off that completely unavoidable and unpayable debt..! Well.., that's crazy! That's insane. That's.., why, that's EVIL!"
So basically, working out how this cryptocurrency phenomenon works is kind of super-important. It's confusing as heck, but we need to learn it.
So experiments like this one seem like very worthy enterprises to me!
I need to learn more. It's all still a big maze for me at the moment, but I'm slowly marking the walls. (Or letting out thread as I navigate and hoping that the Minotaur doesn't tromp me before I work it out.)
Haha, a rebel you are! Once you start down the path of block-chain, forever will it dominate your destiny, consume your time it will!
At face value, it seems like it would curb "inflation" a bit, but is it enough to make even a small dent?
It is only an experiment so it will not have much effect as it is. Whales and others who think that the place is overpaid at this moment can put one 100% vote in the burn bin...
There was talk about burning money that was the revenue from ads. It did make some sense in terms of an economy that was based on other things than speculation.
I see, depending on how the experiment goes, it can help determine future direction.
Well this is certainly an interesting experiment but I wouldn't do it myself. Mostly because I'm just a minnow and I can use all the SP I can get ;)
But yeah, if you want to do this than more power to you.
You will get the SP from voting still, you will just not give your voting money to someone else...
It's absolutely an interesting experiment, but I'm personally rather spending my voting power on the authors I like instead of burning it. But if people think this is the best thing for Steemit, then I'm all for it!
It is mainly for whales I guess - Blocktrades seems to give it a large vote each time.
Its like burning food in front of starving children. Just give it to them/me.
Yes, you could definitely argue that way, but the initiative is meant to bring value not to single individuals but to everybody.
It is an interesting concept. But i really think it would only have any visible effect if a freakishly big lot of steem is burned in a freakishly short time. Am i right?
its really a great post
@ katharsisdrill ..Thanks Greg. Hopefully there is enough demand and new comers to make the dog part more significant.the burning....
that's very helpful post!!
thank you
crypto's are future, thanks..
its great one more... its really fantastic post.... i impressed to see it and waiting for your next post....