Steem experiment: Burn post #133

The @burnpost initiative has steady gained support and is currently systematically receiving rewards of regarding $500-$600 (displayed post value) per day. thanks to any or all of the supporters UN agency have created this doable.

We have frequently oversubscribed all of the reward SBD on the inner marketplace for STEEM, serving to to exert downward value pressure on SBD toward the $1 peg (along with upward value pressure on STEEM), and have high-powered up a complete of regarding 11000 SP (currently value regarding $33000). This stash of powered-up SP is supporting downvote-only initiatives to assist counter the foremost harmful abuse (at least in terms of blockchain cost) high volume self-rewarded spam.

Finally this has helped 'drain the swamp' by guiding rewards far from the vote-buying, bid bots, circle jerks, and alternative wasteful nonsense that's more and more getting down to dominate the platform, and instead toward goals that ar clearly of profit to any or all stakeholders and so the whole platform: selected shopping for and burning to extend the worth of STEEM; increasing the STEEM market cap; harnessing voluntary vote support and economic process to boost the performance (even if solely marginally therefore far) of the SBD peg, creating it additional helpful and reducing the imbalances (such as negligible curation rewards) caused by overvalued SBD; and at last serving to to prevent spammers and similar types of clear abuse.

As a reminder, once SBD declines back to $1 or below, the STEEM received by @burnpost (including all post rewards that have to this point been high-powered up) are going to be high-powered down and/or burned by causation to @null. None of the coins received by @burnpost can ever be oversubscribed or otherwise distributed. they're irrevocably selected for burning.

If @burnpost rewards stay systematically higher than $500 (displayed) every, i will be able to shortly expand the initiative to create one post per twelve hours rather than one post per twenty four hours. Supporters ar welcome to support one, both, or neither of those posts (all votes ar welcome and appreciated), however by making 2 posts this enables those stakeholders UN agency want to pick out favor of the @burnpost goals to optionally increase their in progress rate of support.

The existing rules and procedures stay in result as delineate within the previous post.

All rewards from this post are going to be sent to @burnpost as a donation which is able to then be listed from SBD to STEEM, powered up, and/or burned in accordance with the standard @burnpost rules. that has SP which is able to be instantly sent within the sort of STEEM from my very own account.