create account

Quick note on burnpost by smooth

View this thread on: hive.blog |  peakd.com |  ecency.com
steem · @smooth · (edited)
$20.88
Quick note on burnpost
Since the SBD peg is close to being restored, @burnpost will no longer set a beneficary of @null. Instead, rewards will be paid to @burnpost and handled by the bot (or in some exceptional cases manually) in accordance with the rules. 

In particular, if SBD is trading for more than $1, any SBD rewards received will be used to buy STEEM for eventual burning, which results in a larger burn relative to the rewards paid out. For example, if SBD is trading at $2 and STEEM is trading at 0.20 then immediate burn (or convert and burn) of 1 SBD would result in 5 STEEM being burned from the total supply, but using the 1 SBD to buy STEEM will result in 10 STEEM being burned. The latter also helps stabilize the price of SBD toward $1 by selling it on the liquid market, as well as contributing buying pressure to STEEM.

Other posters who wish to take advantage of this may set their beneficary to @burnpost instead of @null and any rewards received there will be treated accordingly.  Likewise for donations.

_100% beneficiary to @burnpost_
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 112 others
properties (23)
authorsmooth
permlinkquick-note-on-burnpost
categorysteem
json_metadata{"tags":["experimental","burnpost"],"users":["burnpost","null"],"app":"steemit/0.1","format":"markdown"}
created2020-02-07 00:50:36
last_update2020-02-07 01:09:48
depth0
children30
last_payout2020-02-14 00:50:36
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value20.883 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,040
author_reputation260,342,945,372,716
root_title"Quick note on burnpost"
beneficiaries
0.
accountburnpost
weight10,000
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,182,384
net_rshares136,352,847,031,312
author_curate_reward""
vote details (176)
@arcange · 
Congratulations @smooth!
Your post was mentioned in the [Steem Hit Parade](/hit-parade/@arcange/daily-hit-parade-20200207) in the following category:

* Pending payout - Ranked 5 with $ 42,62
properties (22)
authorarcange
permlinkre-quick-note-on-burnpost-20200207t164748000z
categorysteem
json_metadata""
created2020-02-08 15:50:03
last_update2020-02-08 15:50:03
depth1
children0
last_payout2020-02-15 15:50:03
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length192
author_reputation1,148,349,221,690,653
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,231,358
net_rshares0
@chelsea88 · 
This is interesting, i have an understanding however what do you mean by beneficiary? Does that happen if i simply put burnpost in my tags? Im a little confused sorry.
properties (22)
authorchelsea88
permlinkq5baf9
categorysteem
json_metadata{"app":"steemit/0.1"}
created2020-02-07 03:16:24
last_update2020-02-07 03:16:24
depth1
children1
last_payout2020-02-14 03:16:24
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length167
author_reputation22,166,123,468,884
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,184,824
net_rshares0
@smooth · 
The beneficiary receives part or all of the rewards from a post. If you are using the steemit.com UI you can find it behind the "Advanced settings" link when making a new post.
properties (22)
authorsmooth
permlinkq5bd45
categorysteem
json_metadata{"app":"steemit/0.1"}
created2020-02-07 04:14:36
last_update2020-02-07 04:14:36
depth2
children0
last_payout2020-02-14 04:14:36
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length176
author_reputation260,342,945,372,716
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,185,738
net_rshares0
@church-of-god · 
# According to the Bible, *Are Christians forbidden to eat Hare? (Part 3 of 5)*
***(Sorry for sending this comment. We are not looking for our self profit, our intentions is to preach the words of God in any means possible.)***
https://youtu.be/PiCmo6n9wfo
https://i.postimg.cc/SxmKZFY2/image.jpg
Comment what you understand of our Youtube Video to receive our full votes. We have 30,000 #SteemPower. It's our little way to **Thank you, our beloved friend.**  
Check our [Discord Chat](https://discord.gg/vzHFNd6) 
Join our Official Community: https://beta.steemit.com/trending/hive-182074
👍  
👎  ,
properties (23)
authorchurch-of-god
permlink06z53fzbwprf
categorysteem
json_metadata""
created2020-02-07 00:58:51
last_update2020-02-07 00:58:51
depth1
children0
last_payout2020-02-14 00:58:51
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length591
author_reputation-10,142,640,475,011
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout10,000.000 HBD
percent_hbd100
post_id95,182,559
net_rshares-53,005,633,345
author_curate_reward""
vote details (3)
@cryptopie · 
I am happy that the goal was reached for putting SBD to 1 dollar again but was the burning of steem was the cause because there are still a lot of steem token out there relative to the burned steems? @smooth
I do think that the BTC price movement was the cause.
properties (22)
authorcryptopie
permlinkq5bnqa
categorysteem
json_metadata{"users":["smooth"],"app":"steemit/0.1"}
created2020-02-07 08:03:48
last_update2020-02-07 08:03:48
depth1
children2
last_payout2020-02-14 08:03:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length261
author_reputation829,274,168,394,582
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd0
post_id95,190,130
net_rshares0
@phgnomo · 
Spot on sir.
properties (22)
authorphgnomo
permlinkre-cryptopie-202027t134354348z
categorysteem
json_metadata{"tags":["esteem"],"app":"esteem/2.2.4-mobile","format":"markdown+html","community":"hive-125125"}
created2020-02-07 16:43:57
last_update2020-02-07 16:43:57
depth2
children0
last_payout2020-02-14 16:43:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length12
author_reputation24,864,018,367,830
root_title"Quick note on burnpost"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,203,166
net_rshares0
@smooth · 
Who can say what makes markets do what they do? Ask 3 people, or even 3 experts, and you are sure to get at least 3 different answers.

All I know is that there would have been a whole lot more STEEM being sold otherwise, which can't be good.
properties (22)
authorsmooth
permlinkq5br27
categorysteem
json_metadata{"app":"steemit/0.1"}
created2020-02-07 09:15:48
last_update2020-02-07 09:15:48
depth2
children0
last_payout2020-02-14 09:15:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length242
author_reputation260,342,945,372,716
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,191,469
net_rshares0
@doingdailies · 
hyperinflate a coin then come up with 'burning' as the ultimate solution ... if i ever start caring again someone's gonna have to explain that ... not particularly talking to you ... it seems to be a global virus on Crypton
properties (22)
authordoingdailies
permlinkq5yasx
categorysteem
json_metadata{"app":"steemit/0.1"}
created2020-02-19 13:29:21
last_update2020-02-19 13:29:21
depth1
children0
last_payout2020-02-26 13:29:21
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length223
author_reputation2,016,396,309,681
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,612,198
net_rshares0
@freddio · 
for me it looks like it should be fixed in code and not try to repair it this way.

I think SBD should be a DAI copy and removed from rewarding. its way more scaleable and usefull then.

At as a Bonus it would not effect Inflation. So the system is secure.
properties (22)
authorfreddio
permlinkq5e69o
categorysteem
json_metadata{"app":"steemit/0.1"}
created2020-02-08 16:39:21
last_update2020-02-08 16:39:21
depth1
children12
last_payout2020-02-15 16:39:21
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length256
author_reputation7,719,090,707,167
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,232,555
net_rshares0
@smooth · (edited)
Maybe so, but realistically it would likely be years (at a bare minimum a year) before that sort of code change is made on Steem given current development processes, resources, and roadmap. Meanwhile, we have to make the most of the system we have.

IMO the most realistic change we can make near term which makes SBD function more closely to DAI is to enable STEEM [contributions to the SPS](https://steemit.com/steem/@smooth/steem-improvement-proposal-allow-steem-donations-to-the-dao), but even that probably won't happen either for several months at a minimum.
👍  
properties (23)
authorsmooth
permlinkq5egd0
categorysteem
json_metadata{"app":"steemit/0.1","links":["https://steemit.com/steem/@smooth/steem-improvement-proposal-allow-steem-donations-to-the-dao"]}
created2020-02-08 20:17:27
last_update2020-02-08 22:23:15
depth2
children11
last_payout2020-02-15 20:17:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length564
author_reputation260,342,945,372,716
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,238,193
net_rshares9,523,117,724
author_curate_reward""
vote details (1)
@freddio · 
I dont know how much time and money it needs to change this kind of code. I dont have the skills to do this. But i think someone maybe in the community have the skills. 

SPS i think would be nice to fund something like this. 

I agree with you, I also think it would take a very long time.

The most point i dont like on SBD is, the influence on inflation. I thing this can be kill Steem in a unlucky ( middrange) Bullrun.
properties (22)
authorfreddio
permlinkq5fnk6
categorysteem
json_metadata{"app":"steemit/0.1"}
created2020-02-09 11:50:27
last_update2020-02-09 11:50:27
depth3
children10
last_payout2020-02-16 11:50:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length423
author_reputation7,719,090,707,167
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,255,431
net_rshares0
@lordbutterfly · 
Cmon man... 

https://media.giphy.com/media/9G3wg7lH5DpxC/giphy.gif

$37, trending....
Just give it a rest with this Burnpost thing. I mean youre seeing right now exactly why this is all pointless. Market swings, Steem and SBD move with it... 

Remove this thing from the trending page.
properties (22)
authorlordbutterfly
permlinkre-smooth-q5ckon
categorysteem
json_metadata{"tags":["steem"],"app":"steempeak/2.2.8"}
created2020-02-07 19:55:36
last_update2020-02-07 19:55:36
depth1
children5
last_payout2020-02-14 19:55:36
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length288
author_reputation1,535,697,913,339,709
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,207,831
net_rshares0
@smooth · 
Take it up with the voters.

I'm quite sure there is a lot of stake held by people who don't share your opinion on the value of the Trending page. I know I don't.

As for the market swings, I suggest you take a closer look. Steem has barely moved in terms of rankings. Yeah, the price has moved up a bit with the market but this does nothing to demonstrate that Steem's economics aren't seriously broken. 

Looking for more milking posts instead of improvements to the economics on the Trending page, or receiving a larger portion of the reward pool, is being part of the problem, not the solution.

Or to put it another way, if you want to see better stuff on the Trending page, get people to post better stuff that is compelling and really adds value to Steem. I will be the first to vote for it, as I often do. @burnpost is "none of the above". It is there by default, not because it is our first choice (speaking for voters, which I can't really do, but I think my views are accurate).
properties (22)
authorsmooth
permlinkq5ct9w
categorysteem
json_metadata{"users":["burnpost"],"app":"steemit/0.1"}
created2020-02-07 23:01:15
last_update2020-02-07 23:01:15
depth2
children4
last_payout2020-02-14 23:01:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length989
author_reputation260,342,945,372,716
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,211,662
net_rshares0
@lordbutterfly · 
Oh,  so you're taking that stance:

"It's not me,  it's the voters.  I'm just a vessel of demand and bare no responsibility ."

You know that's not how it works.  Even a bad idea will get traction if the "right person" is behind it.  In this case you.  And you cant wash your hands of it all.  Youre the one running it. 

We did move from 90 to 75 which is a noticeable jump.  That being saidnSteem economics are broken.  We all know that. But you dont patch a leaking ship with duct tape.  
This is not how you fix it.  The splution is tackling the underlying issue of SBD,  maybe look at how how ETH stablecoins are doing it. 

" if you want to see better stuff on the Trending page, get people to post better stuff"

Thats really a cop out statement.  The actions of whales on this platform in large part determine the content created. 
Telling me to get people to post more quality content is nonsensical for a number of reasons.  

1. Theres no way i can do that but i can try and convince you to stop posting this stuff.  
2. I cant convince you to put in the work to try and find quality creators. 
3. I cant know every whales preference or ehat they consider quality content,  which im sure youre aware of.
👍  ,
properties (23)
authorlordbutterfly
permlinkq5dhp1
categorysteem
json_metadata{"app":"steemit/0.1"}
created2020-02-08 07:48:39
last_update2020-02-08 07:48:39
depth3
children3
last_payout2020-02-15 07:48:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,214
author_reputation1,535,697,913,339,709
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,220,788
net_rshares84,236,881
author_curate_reward""
vote details (2)
@mattsanthonyit · 
Thanks for this update so far. It helped
properties (22)
authormattsanthonyit
permlinkre-smooth-q8cmve
categorysteem
json_metadata{"tags":["steem"],"app":"peakd/2020.03.14"}
created2020-04-06 04:24:06
last_update2020-04-06 04:24:06
depth1
children0
last_payout2020-04-13 04:24:06
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length40
author_reputation1,648,149,999,571,990
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id96,726,298
net_rshares0
@steemitboard · 
Congratulations @smooth! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://steemitimages.com/60x70/http://steemitboard.com/@smooth/votes.png?202002150144"></td><td>You distributed more than 19000 upvotes. Your next target is to reach 20000 upvotes.</td></tr>
</table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@smooth) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=smooth)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>



**Do not miss the last post from @steemitboard:**
<table><tr><td><a href="https://steemit.com/steemitboard/@steemitboard/valentine-s-day-challenge-give-a-badge-to-your-beloved"><img src="https://steemitimages.com/64x128/http://i.cubeupload.com/LvDzr5.png"></a></td><td><a href="https://steemit.com/steemitboard/@steemitboard/valentine-s-day-challenge-give-a-badge-to-your-beloved">Valentine's day challenge - Give a badge to your beloved!</a></td></tr></table>

###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
👎  
properties (23)
authorsteemitboard
permlinksteemitboard-notify-smooth-20200215t015414000z
categorysteem
json_metadata{"image":["https://steemitboard.com/img/notify.png"]}
created2020-02-15 01:54:15
last_update2020-02-15 01:54:15
depth1
children0
last_payout2020-02-22 01:54:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,304
author_reputation38,975,615,169,260
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,460,806
net_rshares-34,871,911,119,212
author_curate_reward""
vote details (1)
@steemitboard · 
Congratulations @smooth! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@smooth/community.png</td><td>Thank you for the witness votes you made to support your Steem community and for keeping the Steem blockchain decentralized</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@smooth) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=smooth)_</sub>


**Do not miss the last post from @steemitboard:**
<table><tr><td><a href="https://steemit.com/steemitboard/@steemitboard/use-your-witness-votes-and-get-the-community-badge"><img src="https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmTugCUsoXX762vg1CuHRrpnPbfnjPogp8iCGv7F2kSVuj/image.png"></a></td><td><a href="https://steemit.com/steemitboard/@steemitboard/use-your-witness-votes-and-get-the-community-badge">Use your witness votes and get the Community Badge</a></td></tr></table>

###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
properties (22)
authorsteemitboard
permlinksteemitboard-notify-smooth-20200306t030636000z
categorysteem
json_metadata{"image":["https://steemitboard.com/img/notify.png"]}
created2020-03-06 03:06:36
last_update2020-03-06 03:06:36
depth1
children0
last_payout2020-03-13 03:06:36
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,173
author_reputation38,975,615,169,260
root_title"Quick note on burnpost"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id96,105,704
net_rshares0
Help/Feedback