Yes, I understand it. I believed in it until I looked into it. It is not really helping the SBD peg, after all, is SBD $1? Nope, last I checked it sits around $0.61. So maybe you can say that the burnpost project is only 39% bullshit...
It also burns STEEM, but only on the author side, not the curator side. That is why what it does is horrible. This system, having several witnesses and whales participating is draining the reward pool, essentially stealing it from hard working authors while boosting the overall network ownership for those curating the posts. It is absolutely terrible.
The plan is to siphon rewards away from authors that might add to the sell wall on exchanges and burn those author rewards. It is a complete abandonment of the POB distribution system in favor of whale ROI. You have to understand how scammy that is, we tell everyone the rules, that 50% go to authors and 50% go to curators that have invested, then the authors give their time and effort, but because the pool goes where the votes send it, and much of the vote weight is being sent to a spam post + spam comments to be burned it kinda makes that false advertising.
The burnpost project is nothing but spam, spam that has reached trending. Nevertheless, Steemcleaners does nothing, while it will go after anyone small it wants. This thing spams every day with posts and comments and Steemcleaners focus on others that do not get a fraction of the rewards.
I have tried to point this out to them and they don't respond. Steem has rules put in place by whales, but the whales do not obey these rules themselves. The crony capitalism needs to stop.
I also think @burnpost should disallow curation rewards