🔥 Burn it 🔥
While it must be reassuring to someone that steemit has 44,309,388.179 STEEM sitting in an account. It was not acquired in the way it should have been least to my understanding. It’s a massive liability on the system even with it just sitting there not doing a thing.
100% Agree. Power it down (at least half of it) and 🔥BURN IT!🔥
Even if Steemit Inc needs funding for future development, I'm sure $45 million for half is more than enough, but the benefit of the burn to the overall health of the ecosystem would be well worth it.
Even an incremental burn if the price of steem gets to low could be one way to help things turn around. Would be an interesting fail safe if it was used like that. Investors would know once the line in the sand is crossed they start burning. Sadly line in the sand measures don’t hold up well over long periods of time. Market is going do what it wants to do and people sometimes exploit such knowledge to gain more out of the system.