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RE: Controversial opinion: Maybe burning money is bad

in #steem2 years ago

I think I agree with your general point, that burning STEEM/SBD isn't necessarily good for the economy, because if there's nothing exchanged for the burn, then it implies a value of zero for the token. That had never occurred to me before you mentioned it in previous comments, but I think it seems right.

In the case of "post promotion", however, whether by sending SBDs to @null or by setting the beneficiary to @null, I think this represents an exchange of value so that it increases utility for the tokens and also produces more of a "circular economy", so (as long as its voluntary), I do think it's a good idea to encourage experimentation.

Also, as I noted in my post, I think that Tron's recent price performance makes a pretty compelling case for burning tokens when it's done in exchange for a service.

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Also, as I noted in my post, I think that Tron's recent price performance makes a pretty compelling case for burning tokens when it's done in exchange for a service.

Yes, I agree that trading tokens for a service from the blockchain (and the blockchain burns them), or transforming them in some way (as with SBD -> Steem conversions or minting stablecoins with TRX) is good.

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