Would it not be better to set the beneficiary as the steem.dao?
@null does not really benefit anyone but the DAO will need a larger pool after the community gets used to the idea and starts voting for quality ideas. Currently at 700 SBD per day is peanuts in the grand scheme of things.
I don't really have an opinion on whether paying to steem.dao or null is better but I would strongly disagree that paying @null doesn't benefit anyone. It benefits all STEEM holders by reducing the supply and reducing future selling pressure. Whatever is paid out, including to the dao, has the potential to eventually be sold on markets as selling pressure. Whatever is instead sent to @null will never reach markets.
It is certainly possible that funds sent to the dao will eventually be spent in a way that increases the value of Steem even more than what it costs in inflation, but it is also possible that is not true, so this is somewhat of a more opinionated and risky approach. Sending to @null is neutral and guaranteed to at least never contribute to reducing the value by selling or dilution.
I get the fact that in the short term lowering the inflation rate could create higher prices.
I guess I just believe that the more inflation that is spent towards developing new or better steem activities will lead to much higher prices by attracting more individuals to get involved in steem.
If millions of users need a small amount of steem for their daily activities that will quickly eat up the current printing rate and current steem supply. It will be tough to achieve millions of users though without the active development that will create interest for a larger community.
If the price of steem were to go up, would the amount of SBD funding the DAO each day go up?
If it's set to have 10% of the inflation, I imagine so. If it is calculated in terms of STEEM. But, it prints SBDs instead.
But it receives a percentage of the reward pool, and the value of the reward pool is in steem afaik.
Right, but it prints SBDs instead.
So, the higher the value of steem, the value of sbd goes into the direction of 1$ again and more should get printed too (due to the higher value of the pool), no?
In theory, yeah. But, workers set the wage. So, it's just nice to have higher value STEEM because the budget would be bigger.
Ok so I am not clear what was concluded here. Does a higher steem price mean more SBD will be printed for the DAO?
I'm going with yes.