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RE: Charity drives on Steem, will not tolerate "Giving 100% of the liquid reward..." (while silently keeping the rest out of pure convenience/greed)
That's an important issue. I think the best idea is to create steemit accounts that are completely seperated from your own ones (like people also do when they're running a witness e.g.). Like that you are completely transparent, have clean open books and don't have to transfer money from one to another. That's at least how I am doing it with @dreamsofthocean.
Generally raising money here to give it away then (outside the Steem eco-system) will per se weaken the value of Steem (in the same way as if you powered down money to finance your next vacation). That's why promoting Steem(it) in order to find new investors should be a high priority for all of us.
Have a good day!
Theoretically, doesn't the money, when sold, just go back into the community by whoever bought the Steem in the first place.
I also want to ask though, how affective is it to do this? I personally have thought about doing it, then simply paying the charity with my own cash. Basically just a way to buy SP..... Without using an exchange....
But to getSP, power it down. THEN send it to an exchange to exchange it to ETH/BTC/LTC, then turn it into cash. Maybe via coinbase? Seems like a lot of fees and hassle.....
-BiasNarrative
Like in any other market, supply and demand dictate the price of a currency (here: Steem). If more people decide on selling Steem than to buy it, the price declines. That's why the decision to sell (here: power down) can already have a negative influence on the monetary value of Steem.
There are many ways to exchange crypto currencies for fiat money. No matter which one you choose, you will always loose value (by paying fees). As long as we have two different models co-existing this will be the case. That's another good reason to hold Steem btw :-) If you can finance a charity with fiat: do it. If you want to promote it on steemit: do it. There is no right or wrong here. Social commitment is always a good idea. Independently from a currency, your no. 1 rule should be: be transparent! Charity always requires 100% trust.
Steem on!
Definitely... Basically make sure you record all your steps for auditing purposes. Being transparent.
i am Fucking @transisto sis and mother