Introduction

We all love the Steem project and would like to see it grow fast. What can we do to ensure that the steem project grows and become the success we want it to be? There are many things you could do. One of them is to burn Steem. This idea was presented by a user @rosz in this publication under the propose a new initiative contest of the Engagement challenge. This idea is popular in the crypto sector. Since it will help the Steem project in the long run, Lets do it.

The effect of Steem Burn

The crypto industry is already familiar with burning cryptos. The amount of cryptos in circulation normally affects its price in the market. The laws of demand and supply are usually felt more in the crypto sector. When there is much token in circulation, which means many are selling off their assests, it tends to affect the price negatively. On the other hand, the price tends to go up when there are few tokens in circulation. Steem as a cryptocurrency is also affected by that phenomenon.

A great way to create such scarcity and reduce the amount of tokens in circulation is to burn or destroy some the tokens. That is the very idea behind this wonderful proposal by @rosz. When we burn Steem, it reduces the amount in circulation, in the various exchanges. With time, this scarcity will affect the price positively. When the price grows, Steem holders will like to withhold their Steem and hope a bigger price increase. As such, the value of Steem will be healthy for all of us. Wouldnt you like to see 1 Steem at $5? That is why we need this initiative!!!

How to do it

To burn Steem is very easy. When you make a post, just set 25% beneficiary to @null. Easy as ABC. Please do not forget to set it. I suggest that once you open the compose page, do it first. Do the setting and continue publishing so you do not forget.

Lets Burn Steem!!!!!!!! Contest Prize 15 Steem

In order to fully support this initiative, the first 5 persons to burn Steem in SteemAlive community will win 3 Steem Each. This is part of my support for the burnsteem initiative.

Rules

1. Make a quality post (at least 350 words) and set 25% beneficiary to @null
2. Resteem and vote this post.
3. Make a comment on this post to show you will support this initative
4. Drop the link of your first burnsteem post.
5. Make sure you have engaged with at least 5 posts in our community in the last 1 day.
6. Your first tag must be: #burnsteem25.

Lets grow together - with Steem

If you love the Steem project, you would be ready to do everything to support its growth. We need to have as many users as possible support this initiative. In addition to the clubs project, if many of us start setting some or all of our posts earnings 25% to @null, that will go a long way in reducing the amount of Steem in circulation, and improving the price in the nearest futures.