Viewing a response to: @aggroed/steem-engine-announces-featured-posts-and-announcements-for-nitrous
Burning tokens to promote is a great idea because it helps the whole community and all the holders. Wish this were being done with steem. -------------- However this statement is low key kinda just sad. Maybe? > Why would you burn it instead of just collect it? If you're the owner you'll likely get a lot more out of it by burning it. Instead of getting a handful of tokens at the lowest price you're removing tokens from circulation making all of your other tokens worth more. It seems innocent but what it's basically saying is... "we know you token creators have basically created a get rich quick scheme and most of you have rewarded yourselves crazy amounts of your own token, now here's a way to enrich yourselves." He could have easily said this will help the community... but the reality is the token creators seem to be mostly in it for themselves. Maybe? It's as if this is the go to accepted practice for a creator of a token to just give himself outlandish amounts of tokens. This should be a discussion. I lean towards this sounds scamy... but who knows what do the rest of you think? I think this sort of default gifting yourself outlandish amounts of token is gonna get Steem in trouble... get rich quick schemes will always come back to bite you in the Ass. Tokens yes... but token creators should try their hardest to create a nicely balanced fair system. Does anyone know a token that the creator DID NOT try to get rich off of with free money? I'd love to know cuz that's solid!
author | nuancedthought |
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permlink | re-aggroed-punkek |
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We don't dictate how it's formed. Everyone gets to make their own decisions. Many of the projects are holding back 10% of tokens for themselves. That's not an absurd amount for projects that take a lot of time and energy. The fact that there is an incentive for the creators is what helps this thing spread and grow steem. If there's no personal incentive then where's the reason to grow steem? So, that 20 accounts iwth 90% of the steem can grow rich? This let's every community get empowered to grow themselves and this whole chain.
author | aggroed |
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permlink | punkub |
category | steem-eng |
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No one said you dictate how they're formed. why did you even say that? And yes of course they get to make their own decisions (obviously) it was this feeling that you seemed to give off that creators usually give themselves a shit ton of money just for clicking the create button. If they wanna show they get money because of other things, then... cool. But i think we all know many token creators are just gifting themselves money just for coming up with an idea and no solid reasoning. (ideas are a dime a dozen) No issue with them giving themselves money for actual work/action. It just feels like you're winking and nodding at them... like "hey we know you gave yourself a ton of money for doing almost nothing now here's a way to make that money worth a lot more" Again i think this idea you are proposing is wonderful to burn tokens as a utility. It was the statement that low key had me pretty worried like it was just assumed they all gave themselves money. And to your point, to assume that 10% of an entire currency should be given to a creator is indeed a troubling trend. It's not the 10%, it's the assumption that all these coins should just go ahead and do it like it's nothing. It's not nothing. However i doubt they stop at 10% ... Not against them making some money but making tokens just to get rich and not be talking about the utility and value of the token... that's a recipe for a disaster. Your token creators are gonna get themselves in trouble it's sounding too much like a scheme and not a solidly planned economy. Too much emphasis on get rich and not enough on utility. I think you know that's not a good look on your otherwise great system.
author | nuancedthought |
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permlink | re-aggroed-punnhi |
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Dear @nuancedthought > Burning tokens to promote is a great idea because it helps the whole community and all the holders. Indeed. Burning is definetly great way to go. And personally I don't see it as being scammy. Yours Piotr
author | crypto.piotr |
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permlink | pusyou |
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