Steem experiment: Burn post #528

Burn post for December 22.

All rewards received by @burnpost are eventually burned. More info.

To provide additional support, vote for the @burnpost comment(s) below.

To view proof of burn, visit

Comments 19

Rewards from this comment #1 will be added to the post rewards for burning

08.01.2020 01:11

Rewards from this comment #2 will be added to the post rewards for burning

08.01.2020 01:11

Rewards from this comment #3 will be added to the post rewards for burning

08.01.2020 01:13

Rewards from this comment #4 will be added to the post rewards for burning

08.01.2020 01:16

According to the Bible, How should a Christian deal with peer pressure?

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08.01.2020 01:18

How did burnpost function, and what's the main intent of burnpost

08.01.2020 13:10


08.01.2020 13:50

Thanks... that's your own opinion but someone has really explain this to me in simple sentence

08.01.2020 14:33


08.01.2020 14:52

Yeah...thanks 😁

08.01.2020 18:47

It sends all the rewards it gets to @null. @null is an account which no one owns, once it receives steem they get burned.

Burned means they can no longer be sold. This reduces the supply of steem.

So, it increases the price of steem.

08.01.2020 14:08

Awesome...thanks for this simple explanation

08.01.2020 14:32

Thanks for clarifying things for me.

08.01.2020 20:16

The last line is speculative. There are many factors contributing to price changes so I don't think a blanket statement can be made. I would instead say that it could increase the price of Steem.

IMO, it depends whether the rewards (payouts) would otherwise contribute successfully to increasing the value of Steem, or if they are more often being extracted by self-voting, vote-trading, vote buying, etc. which enriches individuals at the expense of Steem stakeholders/investors.

I'm happy to, and do, vote for payouts which I see as contributing to increasing the value of Steem. The rest I consider to be somewhere between wasteful and scams which are actively harmful to Steem, and therefore often prefer to see more burning.

08.01.2020 21:48

Yes, of course a positive ROI can be obtained from inflation (hence the SPS). I was talking from a supply/demand point of view.

Market cap remains the same so less coins means higher price. Sure this doesn’t happen right away, as markets are not perfectly efficient. But steem does become more scarce, or in this case inflation is reduced.

09.01.2020 21:49

Market cap remains the same only if demand does not increase. If payouts are made to (sufficiently) value-adding posts then it should increase demand more than enough to offset the dilutive effect of more coins. Voting for burnpost is expressing a view that the weighted average of other posts is not value adding.

I was mostly agreeing with you BTW. I do personally vote for burnpost so my opinion is that fewer coins -> higher price under current conditions, but I just wanted to acknowledge this is opinion not objective fact.

10.01.2020 02:07

I agree with you too, however you can never be 100% sure that demand will increase when upvoting someone. Even if he has the best of intentions and we truly believe in him and his plan to create value, we can still be wrong.

What we have to do is consider what happens when demand remains the same, because we don't how demand will vary. It is possible for Steem to become worse from a fundamental point of view but for demand to increase because the market has constantly proven to be irrational.

That's why I think that burning is the only 'objective' way to increase the price. Other methods can be argued and disagreed on, for example, not everyone votes for the same proposals on the SPS.

10.01.2020 09:18

Thanks for your response.

13.01.2020 08:32

08.01.2020 13:49