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RE: So Much Dumb Money! Continued!
I think a usefull way for SBD to get burned would be micro transactions to @null for auth-only steem oriented apps. Using SteemConnect for authentication only, possibly is ok for people already using SteemConnect for apps that use actual delegation primitives, but starting to use SteemConnect, only to authenticate as owner of a STEEM account is a really really bad idea, from a least authority perspective. The alternative of authenticating by micro-transaction to @null would make more sense, if we could agree amongst Devs of STEEM apps currently using SteemConnect to just authenticate, to also integrate @null microtransactions, and how to format the memo fields for authentication for a specific DAPP.
@fulltimegeek is working on a sidechain project that would do just that. Whoever burns the most Steem gets the block reward from a Vaporchain.
https://steemit.com/vaporchain/@fulltimegeek/a-cursory-overview-of-how-vaporchains-work
Interesting. I was refering though, more to something like this, but then using some DAPP id and using @null instead of the DAPP owner as target of the transaction.
Indeed! I imagine there will be multiple implementations that allow coins to be burnt for some benefit, as that action seems to be a win/win for everyone.