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RE: What if we used the SBDs created every day in the DAO to buy and burn STEEM?
So, upvu's combined VP comes through the proxy vote mechanism. Unfortunately, this proxy weight is not considered for proposal voting. So, it has to come from every individual voting on the proposal by themselves.
I vaguely recalled that witness proxy votes were used on the DAO (not delegations of course).
Is there anywhere now that votes on DAO proposals can be seen? Then it could be tested.
I will need to check for this. Let me verify this over the weekend and get back to you on this.
I might have mistaken delegations and proxy votes now that I read this comment😅 Will check this out.
Are you sure about proxies?
Take a look at this old tool...
Put in upvu.proxy or rme in the CHECK VOTES box and you get...
!
I can support double SP votes (18 million) ..but, my question is ...... is it really possible to pump steem price in such a way ?
It's not really about pumping the price of STEEM per say, at least not like a pump and dump. It's more like funneling some untapped value back into the price of STEEM over time. The steady stream of SBDs priced over a dollar sold for STEEM (which is then burned) provides constant buy pressure for the coin and should help it hold up better than most, and possibly push it higher over time. There is really no way to know for sure exactly how much it will or will not help unless we try it.
Yup. Proxy votes count You are right. Mistook delegations and poxy. My bad.
Given that proxies can work, is is possible to pull this off with just a proposal and the community coming together to get said proposal above the return proposal?
Yes I believe that is the case - the two biggest voting blocks (upvu and rme) are the key voters.
It would be good if the CDRs could maybe manage the process.
Yes, pretty much the only DAO funding I would support at this point is burning of STEEM... no other projects have provided much value at all in the past and I suspect a similar outcome now if other projects start to get funded... so that is something we need to be wary of if the DAO becomes activated again.