RE: What needs to happen to reach $10 STEEM in 2018? (Discussion)
As long as SBD is overvalued, the most obvious and almost non-debatable (though I realize people will debate just about anything) thing anyone can do to increase the price of STEEM is to vote for @burnpost. The blockchain takes $1 worth of STEEM from the reward pool and uses it to create 1 SBD. That 1 SBD can then be used by @burnpost to buy $1.40 worth of STEEM from the market and destroy it. This represents a net demand of $0.40 STEEM bought and permanently removed from the market (or an immediate 40% ROI to Steem stakeholders on the reward pool payments). (Other helpful things done by @burnpost such as fighting spam are a bonus.)
There are many debates about whether rewards are being put to good use, whether the pool is being raped, etc. but even the most worthy uses would probably have a hard time competing with an immediate, guaranteed 40% return on investment. The less worthy to completely non-worthy ones are likely not even break even, so the choice to instead realize a 40% return should be quite obvious.
I seem to recall a certain bellyrub bank preaching 40% return on investment, you may want to take the 40% number you used, (even if accurate), and change it to something else. (for psychologically insecurity reason associated with that term 40% ROI). People may not believe it even if it is true, and see it as just nothing more than another bellyrubbank type scam.
Now then a question...Would not a post declining payout, then voted at 100% by 7 of the biggest whale have the same effect? It is my understanding that declined payouts if any votes are received are burned up, like a high level dustvote.
Declined payouts are not burned, they are left in the pool and then distributed among other posts (and comments).
Thank you I have been trying to find out what happens to the declined payout funds, you are the first to enlighten me about it. There are just so many small parts of the "code" that is not known or understood by the general population of steemit., so I do appreciate you taking time to let me know. I just figured it would be like the dust votes - poof all burned up.
Dust votes are also kept in the pool (and therefore reallocated to other posts/comments) I believe, but I'm not 100% sure.
Then on that I was misinformed, Tim Cliff implied or stated that they were burned up, not returned.