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Steem experiment: Burn post #528 by burnpost

View this thread on: hive.blogpeakd.comecency.com
· @burnpost ·
$16.63
Steem experiment: Burn post #528
![](https://steemitimages.com/DQmQBH23Qyws1yNzpUafaU1Tu557RrCtemnUANPK9ssehGk/Steemburn.jpg)

Burn post for December 22.

All rewards received by @burnpost are eventually burned. [More info](https://steemit.com/steem/@smooth/burnpost-update-for-sbd-at-1-usd-and-accompanying-rule-improvements).

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

To view proof of burn, visit https://steemd.com/@burnpost
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 388 others
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vote details (459)
@adexbafo ·
$0.06
How did burnpost function, and what's the main intent of burnpost
👍  
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vote details (1)
@adexbafo ·
Thanks for your response.
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@coinchaos ·
scam
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@adexbafo ·
Thanks... that's your own opinion but someone has really explain this to me in simple sentence
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@marki99 ·
$0.06
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.
👍  , ,
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@adexbafo ·
Awesome...thanks for this simple explanation
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@adexbafo ·
Thanks for clarifying things for me.
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@smooth · (edited)
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, or from another perspective, reduce the decline in 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.
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@burnpost ·
$22.74
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@burnpost ·
$33.96
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@burnpost ·
$33.88
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@burnpost ·
$33.56
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@coinchaos ·
https://media.giphy.com/media/PXOrv3QhKD4sw/giphy.gif
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@theoldpath ·
# According to the Bible, *How should a Christian deal with peer pressure?*
https://youtu.be/Ki08j0bnXTA
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
👍  
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