In short, if we want to reduce the STEEM supply, raising the price of STEEM (and keeping it there) would be a much more efficient way to do it then by burning tokens.

Personally, I think it would be better to raise the price of STEEM and maintain that price than to burn tokens to reduce the supply of STEEM.

In this case, burning tokens is something we (Steemians) can decide internally and pursue. However, whether STEEM is traded at a high price and maintained at that price is something that is determined by the actions of external market participants.

I think we need to pool our wisdom to make STEEM attractive to external market participants and trade it at a high price (i.e., increase the value of STEEM).

Thank you for the great analysis.