Steem experiment: Burn post #75

burnpost (82) in steem • 7 years ago

Steemburn

Burn post for March 31. Current rules

7 years ago by burnpost (82)

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hiroyamagishi (68) · 7 years ago

although the post is a 2 month old but the value it bring is fresh as it is. Burn post is a great experiment and the future is bring for all people.who believr on thid community. Great @burnpost

$1.04

3 votes

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whatsup (75) · 7 years ago (edited)

I stopped following this @smooth.
How about an update on how you think it is going?
How much Steem and SBD have you burned?
I see you have around 7k steem delegated out, what are you delegating it to?

$0.10

1 vote

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smooth (70) · 7 years ago (edited)

It is delegated to anti-abuse downvote-only accounts, mostly @mack-bot. The downvote-only rule is to ensure that the stake which is pending being burned does not compete in any way with other stake for rewards (and therefore value).

I don't know the total amount but 7K SP gives a rough estimate, since all of the rewards have ended up there. Most of that has come from SBD that was converted into STEEM and then powered up. Burning will occur via power down to @null once SBD is at $1 or below as described in the rules post.

We seem to be getting an uptick in support (as well as the renewed overvaluation of SBD) so perhaps the rate will increase.