Hi Steemians!
How have you been doing?
My apologies for being very busy at this point of time as I have to juggle between work and family. If you want to see more activities of my regular life you can check out my main account @littlenewthings ; or if you want to check out what I am doing with my spare time volunteering, then you can check out posts from @gtpjfoodbank.
So now, let’s get to this very interesting post that I am currently writing out of my brain as I am typing.
Recently you have realised the craze of SCOT creations of supporting specifically different contents in different categories.
And if you have read my previous post, Are We Killing Steem then you would have realised that I have regularly (yet again) pointing out how we are over printing our rewards (with the good community support / abuses via bots) but no where to use them.
And then, @ackhoo mentioned to me about @creativecoin , which is where this amazing team supports great creative content production and pretty much done organically at the moment (unless community bot actually staked CCC and curates)
And we all know, with the edge of technology, being creative seems to be rather easy peasy .
Great photos taken, arts are made, DIGITAL arts are generated (some of course done extensively like normal artists do; I really salute them!) and then, we once again have another token that is created but not properly used.
But hear me out...
This team seemed to have an ingenious idea
Introducing The First BURN project from @creativecoin
They have recently fine-tuned a little on their burning project, where they will only burn off the equal amount CCC that has been produced with the posts they pick to resteem from their mining straight to the NULL account.
If you have not heard about NULL, this was initially created under Steemit concept to keep the value of Steem / SBD in good value
So the whole idea is to keep the token – valuable; because it is not printing like water (ahem central bank) the possibility of “earn and dump” irresponsibly is greatly reduced, and I think, if I got their thoughts right, this will also reduce the market manipulation of flush and buy techniques (I came up with my own terms…) and reduce FOMO.
I think this is quite brilliant if there are no ways to regulate and circulate the tokens / coins to regular use, because the amount of content creators are still very little compared to the total number of humans on this planet.
Source .. Ahem… since it is the ghost month festival for the Chinese community, I think this seems to be the most appropriate picture to use, instead of pictures of fiat of any country burnt; so that no one gets offended.
Burn vs Spreading Out
If you have previously been following my posts in this account, you know that I have been finding ways to Make Steem Valuable through making it Real World people understands and adopt the use of steem / sbd crypto.
When the value was high, of course it was wonderful because of the FOMO excitement, many people would have jump in the bandwagon of towards the road of wealth and success .
But when things go crazy, like abuse, flag wars, dramas, politics (where there are humans, there are politics. Get over it) came into the Steemit picture, the price is just getting so unstable that one by one, people start to drop off like flies and abandon ship.
You should notice that there are just a handful of really creative content creators left, and the rest (quite a vast majority that are just walking away) – to be honest, there are here – for the money.
Therefore I can actually understand the concept of how the founders and miners / witnesses of CCC have decided to sacrifice for the greater good.
Can we do this for Steem / SBD?
If I have remembered it correctly, Steemit Inc tried to do that before to stabilise the value especially when they try to peg SBD to USD as close as possible, with the first introduction of the @null account concept.
But humans being humans, we are very weak in the flesh.
Greed and fear will still grip our hearts in the action of hoarding.
HODL is one of them, and for those who sees the Steem blockchain as another source of income will pretty much just earn and dump (to fiat) so that they can practically make use of it.
And I am pretty sure that asking the witnesses to keep burning them to keep the price alive as a noble cause is not going to work.
Humans, are still humans.
And there are still no way to spread out steem to be used like a regular parallel monetary aid because of its volatile situation, hence the spreading out concept (more people own less tokens and keeps the circulation outside used for day to day basis) will not flourish because this concept takes time.
What if, there’s a way to combine the both of them?
What if there’s a way to find a group of volunteers who have the talent of marketing, loves steem blockchain and SCOT contracts are willing to step out of their comfort zone to introduce this whole idea to the SME?
I actually have thought of this before as I do have a side hustle @craftsofluv (my very first account created on Steemit when it first launched) on how to burn the crypto coins without losing my capital of sales.
As I am thinking of this, I know I am planning to team up with a few faithful #teammalaysia family who might want to take a bold step brainstorming together.
I am writing this down in this post right now and will be tagging them so that they will keep me accountable that I will somehow make time to think this through, whether it will succeed or not, and see if we can revive the steem value in a more meaningful way, maybe incorporate this ingenious sacrificial idea by the brave CCC creators.
What do you think? Do you think what CCC team is doing is a genius or insane?
(I am not trolling them, but I do think that this idea is worth debating and maybe many things make sense)
CC for accountability: @kaerpediem , @kokuryo , @buzz.lightyear , @kimzwarch , @sam.hsuu
(Who else wants to join me?)
CC for deep thoughts and discussion: @crypto.piotr , @awakentolife
Until then
