Steem experiment.

The @burnpost initiative has steady gained support and is currently systematically receiving rewards of concerning $500-$600 (displayed post value) per day. many thanks to any or all of the supporters WHO have created this potential.

We have frequently oversubscribed all of the reward SBD on the inner marketplace for STEEM, serving to to exert downward value pressure on SBD toward the $1 peg (along with upward value pressure on STEEM), and have powered up a complete of concerning 11000 SP (currently price concerning $33000). This stash of powered-up SP is supporting downvote-only initiatives to assist counter the foremost harmful abuse (at least in terms of blockchain cost) high volume self-rewarded spam.

Finally this has helped 'drain the swamp' by guiding rewards faraway from the vote-buying, bid bots, circle jerks, and alternative wasteful nonsense that's progressively commencing to dominate the platform, and instead toward goals that ar clearly of profit to any or all stakeholders and so the complete platform: selected shopping for and burning to extend the value of STEEM; increasing the STEEM market cap; harnessing voluntary vote support and economic process to boost the performance (even if solely marginally thus far) of the SBD peg, creating it additional helpful and reducing the imbalances (such as negligible curation rewards) caused by overvalued SBD; and eventually serving to to prevent spammers and similar varieties of clear abuse.

As a reminder, once SBD declines back to $1 or below, the STEEM received by @burnpost (including all post rewards that have to this point been powered up) are going to be powered down and/or burned by causing to @null. None of the coins received by @burnpost can ever be oversubscribed or otherwise distributed. they're irrevocably selected for burning.

If @burnpost rewards stay systematically higher than $500 (displayed) every, i will be able to before long expand the initiative to create one post per twelve hours rather than one post per twenty four hours. Supporters ar welcome to support one, both, or neither of those posts (all votes ar welcome and appreciated), however by making 2 posts this permits those stakeholders WHO would like to take favor of the @burnpost goals to optionally increase their in progress rate of support.