Who is @null? What is a Burn coin in the crypto world? And how to set 25% beneficiary to @null? This Post Rewards Has Set 25% beneficiary to @null.

in hive-188403 •  2 years ago 

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Hi, Steemian friends wherever you are. How are you, today? Hopefully, you are always healthy and productive on Steemit. Two days ago, I read a post about Steemit Engagement Challenge Week # 4 | Propose A New Steemit Project| Steem Burn by @rosz which invites the attention of the Steemit team. Steemcurator01 supports this initiative. i.e. Burn Steem.

Here are the comments.

You can actually burn STEEM by setting a beneficiary to @null.
Maybe we should encourage people to burn STEEM this way by giving more votes...?
Say 25% beneficiary to start.
#burnsteem25
source

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What is burn in crypto world?

Coin burning is the process of permanently reducing coins in the market. Thus, the supply of circulating coins will also decrease. In terms, of coin burning is like a repurchase by shareholders to increase the value of shares in the capital market. We need to know that burning coins is not like burning objects. The process of burning these coins of course uses the burn function contained in the smart contract belonging to each coin. source

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Alright. Before we send 25% beneficiary to @null, it would be nice if we know first who @null is.

Who is @null?

The @null account is a special account which no one has control over. This means that once money is transferred to @null it is locked away for ever. In a future hard fork we will remove the Steem Dollars, Steem, and Steem Power held by this account from the supply, but until then it is effectively gone. source

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How to set 25% beneficiary to @null?

And here's how to set beneficiary to @null. It's not difficult. It's the same as the steps you take when participating in a contest that requires setting some % beneficiary for a community account. Well, for convenience, I will show in the form of pictures. We only need to follow the steps below!

  • Click on Advanced settings.

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  • Then, in the words Who should receive any rewards? Click, Add account.

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  • Fill in the number 25 in the percent column and fill in @null in the column next to it (name of recipient).

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  • Then, click save.

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  • Done!

I fully support the #burnsteem25 program. To make it easier for me to find your posts, don't forget to use the hashtag #burnsteem25. Come on together, let's follow this latest initiative. This initiative will maintain Steem's price stability. And most likely Steemcurator01 curates posts that set 25% payout to null. However, there is no guarantee of getting a vote.

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The conclusion, burning for crypto will keep its price in the crypto market. It happens because supply in the market is maintained. Meanwhile, crypto that is not burned is more likely to fall because no one controls the supply.

Cc:
@steemcurator01
@steemwomensclub

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I'm a bit confuse about this null, sis, but thanks for this step step by step guide, I'm beginning to understand.

I am glad to hear that
For more information about null, you can read (click on) #burnsteem25 tag
🥰🥰🥰

Terimakasih telah berbagi informasi ini dengan jelas kak, saya juga akan ikut berpartisipasi #burnsteem25.

Sama-sama
Kami senang mendengarnya
Terimakasih telah menjadi bagian yang akan mengangkat kembali harga Steem.
🥰🥰🥰

Congratulations, your post has been upvoted by @scilwa, which is a curating account for @R2cornell's Discord Community. We can also be found on our hive community & peakd as well as on my Discord Server

Manually curated by @abiga554
r2cornell_curation_banner.png

Felicitaciones, su publication ha sido votado por @scilwa. También puedo ser encontrado en nuestra comunidad de colmena y Peakd así como en mi servidor de discordia

Hope that this will help the price of steem will get stable in the market.

🥰🥰🥰

This is a wonderful initiative proposed by @rosz during the engagement challenge at the time it was on.

I also like the fact that you brought it out and elaborated more on it. This is a good project that doesn't require much to do on the part of the Steemit team, but can be executed by everyone.

Null! Lon time no see. Thanks for bringing it to the table. It'd be nice to have an official memo. Some users are wondering what to do while faced with their reality of low income plus Club5050 compliance.

Thanks a lot, @nadiaturrina. Cheers!

Thank you for contributing to #LearnWithSteem theme. This post has been upvoted by @daytona475 using @steemcurator09 account. We encourage you to keep publishing quality and original content in the Steemit ecosystem to earn support for your content.

Club Status: #Club100

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Regards,
Team #Sevengers

Thanks for the support @daytona475 and Steemcurator09. It makes me more excited to be more active
🥰🥰🥰

Very informative post and thanks for the alert, I too wanted to make post and spread this awareness

We are glad to hear that
I support 100%
🥰🥰🥰

Saya baru saja mengetahuinya, terimakasih atas informasinya kak @nadiaturrina

Dan saya baru saja diajak oleh bapak @f2i5 untuk bergabung dan mendukung program #burnsteem25

Terimakasih atas informasinya singkat, padat dan jelas. Salam !

Sama-sama
😊😊😊

Penjelasan yang bagus dan mudah di pahami. Terimakasih

Thanks for explaining burnsteem25to us. Are we to drop our burnsteem post under here? @nadiaturrina

No
Just set @25% beneficiary to @null
Then, use #burnsteem25 tag in your post
🥰🥰🥰

Ok thanks

Thank you for this sister!!

You are welcome dear
🥰🥰🥰

Thank you sis for this informative post of yours. Im sure everyone can understand about @null.

I am glad to hear that, dear. Thanks for visiting my post

Hello sis, I have concerned I think you nominated my cooking post twice. Kindly check it please. Here is the link https://steemit.com/hive-188403/@chibas.arkanghil/club5050-cooking-squash-vegetable-recipe