The Burn Payout rewards option

A short Steem Improvement Proposition {SIP} where another option is added to the choice of payout Rewards. In this case an option to send the final Payout to the @null address, also used for the ...

8 years ago, comments: 2, votes: 33, reward: $1.01

A short Steem Improvement Proposition {SIP} where another option is added to the choice of payout Rewards. In this case an option to send the final Payout to the @null address, also used for the post Promotion payments. The Steem send to this address is send into the Void, in effect causing deflation. Therefore Steem becomes more scarse, it slows inflation down, could drive the market price of Steem up.

Currently there is the 'Decline Payout' option. That means the poster declines payment, therefore the reward pool is not taken into account. With the 'Burn Payout' option it would get a part of the reward pool, just like 50/50 and 100% Steem Power payouts. Yet instead having a part of the reward pool added to ones own wallet it will be send to the NULL address. In effect ll the Steem will be destroyed, taken out off excistence.

Burn and gain

This is one part of several SIPs I have been thinking about lately. And I know that there will be opposition against this one. Because it does take part in the Reward Pool payout distribution, thus lowering the possible payout for others. But, otherwise it would have been another type of payout, also taken out of the Reward Pool for that specific round. And one is free to choose whatever one wants to do with the possible payout.

Also it helps lowering the inflation rate, through deflation, and this could make Steem more valuable.

Have a good one!



photo 'Burning hot' cc-by-sa @oaldamster