RE: HELP STEEMIT GROW. My personal suggestion on how to bring more demand for STEEM [JOIN discussion]
Greetings, dear friend, Piotr.
The core of your idea is based on the burning of Steem, which is good and it is a system that belongs or is part of the economy of the ecosystem. This has never been fully implemented, although we have recently seen efforts by Steem Blockchain authorities to promote its use.
I believe that any action that focuses on promoting the burning of STEEM is totally valid and positive for the economy.
Your personal idea of using the referral link looks great.
In previous years, a small percentage of Steemit users had an active Binance account, but now that percentage has increased, and as you say, new users are added every year.
It would be great if many of them also joined the creation of content on Steemit and participate in the burning.
Obviously, the amount of STEEM that these new users will be able to burn would be tiny. So, those who make a considerable number of transactions on Binance would have to take the surplus profits from their trades (product of their referral links) to buy Steem and send them to @null.
Therefore, your campaign should focus on attracting new users to Binance who would have to register using the Binance referral link, from those who make a considerable number of transactions and exchanges. And they would be the ones who should commit to burning.
Project Hope has over 8K subscribers. Suppose half of them are not registered on Binance.
If you were to get 50% of them to become new Binance users using the @josevas217 referral link (for example), then José, who makes a considerable number of monthly transactions, should buy the STEEM and send it to @null.
In short, you have a great idea and the potential (subscribers) to make it happen.
Thank you Juan for your feedback.
Could you please tell me more about it? I haven't seen yet any efforts by Steem blockchain authorities to do any buy-back and burns.
I do agree with you. However, encouraging authors to burn part of their rewards is not going to build demand. I would rather all those authors to keep their rewards (instead of burning some) and simply power it up. I think , that this would create same result -> limiting selling pressure.
Reducing supply is one thing, but we mostly need to find ways of creating demand. That's at least my line of thinking.
Im afraid that you're missing my point. I wouldn't want users like Josevas to promote their own referral link and then him to carry on with buy-backs and burns.
My goal would be to set up ONE and only ONE main account on Binance with referral link "connected" to that profile. And to build a team of Steemit users, who would be using this particular link while promoting Binance.
So once a month, I would take all that revenue, write a post presenting some bacis stats and then use generated profit to buy STEEM and burn. At the same time I would ask Xpilar (or some other well respected person) to control entire process. So entire process would be quite centralized and partly transparent.
Hopefully Im making sense?
Yours, Piotr