Steem experiment: Burn post #173

Since SBD has currently reached one USD in price, @burnpost can doubtless be going into "burn mode" wherever the rewards are going to be burned instead of high-powered up. additionally, the account can begin to power down, with the facility down payments treated as incoming STEEM (rewards, donation, etc.)

However, thanks to the account having engaged in delegations to anti-spam initiatives, it's not possible to right away power down (power down is incompatible with delegation; the delegation should be removed first). additionally, there has been feedback from the community that right away destroying the worth of the account isn't fascinating, since it removes quickly support from anti-spam initiatives (in truth, so as to power down, the delegation would want to be fully removed right away even whereas the facility down is ongoing) and it additionally removes the power to support the SBD peg ought to such support be required within the future.

For for these reason (to continue support for the anti-spam delegations, to optimize the come to Steem stakeholders, and to take care of burning/@null because the final sink of all price received by the account), we'll modify the principles as follows:

If SBD is mercantilism at or below one USD, power down are going to be initiated at twenty fifth of the SP (this needs reducing delegation 1st, that features a one-week delay). Upon completion of the 13-week power down cycle, if SBD is mercantilism at or below one USD, it'll be reset to twenty fifth of the new SP. In effect, this is applicable a somewhat slower 1/52 per week power down rate rather than the most 1/13 per week.
The remainder of the SP balance can delegated (or, if there aren't any worthy delegation targets known, unused)
Power down payments (STEEM) can treated as incoming STEEM payments (see #5 below)
Incoming SBD are going to be reborn to STEEM victimization the blockchain operate if SBD is mercantilism at or below one USD. SBD are going to be sold-out on the inner market (buying STEEM) if SBD is mercantilism for quite one USD. In either case, the ensuing STEEM are going to be treated as incoming STEEM (see #5 below)
Incoming STEEM are going to be high-powered up if SBD is mercantilism on top of one USD and burned (sent to @null) if SBD is mercantilism at or below one USD.
The primary rule (social contract) governing the account remains this:

In no case can any coins from the account ever be sold-out, transferred, or high-powered down except to @null. Any price within the account is thought of as irrevocably allotted for burning either right away or a it slow within the future.

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 same old @burnpost rules. that features SP which is able to be right away sent within the variety of STEEM from my very own account.