You are viewing a single comment's thread from:

RE: The Curation Project of the Burning Bid-Bot

in #curation7 years ago

I’m seriously curious as to why your project (and some others) feel the need to control inflation with burns at this very early stage. Not a knock or criticism, just a genuine question and concern.
With inflation currently under 10% and falling, we’re easily growing at a rate to support it.

There are roughly 250 million Steem currently among 1 million users for an average account value of 250 Steem. The median value is much smaller since Steem is not evenly distributed. Let’s imagine we hit 10 million users in a year and Steem supply has grown to 275 Million. Average account value is 27.5 Steem with a median account of probably under 5 Steem I’d guess. Keep extrapolating and you can see my concern. Steem is already on track to be a very scarce asset. To me inflation just doesn’t seem a problem, and burns only benefit high Steem amount holding individuals, possibly actually harming small user engagement and depressing price more than it helps.

Sort:  

Through burning every Steem holder is rewarded, that is why we implemented it.
However, if most of our delegators agree on changing the Burning Project and distributing the funds that will be allocated to it we will most certainly change it and distribute those funds among the other projects.
Thank you for the suggestion, we will keep it in mind.

Coin Marketplace

STEEM 0.21
TRX 0.20
JST 0.033
BTC 91905.77
ETH 3091.66
USDT 1.00
SBD 3.09