RE: Steem Debates #2 : Burnsteem25
In general, coin burning is an effective strategy in providing and managing coin value, as well as attracting interest and trust from investors and the community. I noticed this strategy is also carried out by many other cryptocurrencies such as BNB, Shiba Inu and many others.
There is serious debate because not all users are willing to use the hashtag #burnsteem25 because it can minimize profits, especially for investors. But it is acceptable from a business perspective!
However, for regular users like me, the #burnsteem25 initiative is a means for us to contribute to reducing the supply of Steem and increasing its value in the long term. Maybe the impact is not significant, but it is worth noting that burning is one of the best solutions currently available. Even if the impact is small, at least we are doing something.
I have positive confidence in the #burnsteem25 initiative until we find a better and more impactful solution. Thank You
I agree with you, as long as these burnings occur in a specific context. In my opinion, the data provided by @relamp in his post regarding the results of the Steem token burning nine months ago is revealing. Even in the month where the most tokens were burned, the price did not rise excessively. Is this making the burning unnecessary? No, but it must be done in a specific context. A much lower percentage (I suggest 1%), all accounts within the platform must burn, and only one burn on the same day, at the same time.
Maybe, but there is no current mechanism to achieve this...
Thank you for your positive view about burnsteem25.