RE: Hive Images Proposal to Burn 1000 PHOTO Daily for One Year
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For rewards the token is simply deposited into the pool by the smart contract. It's a reward being provided and not liquidity. In less than a week I'll post another proposal to provide PHOTO as distribution reward to a pool.
I don't necessarily disagree with you. If a token is created with a huge max supply and a large amount of tokens are burned then it's needlessly foolish or simple pumpnomics before a dump.
My own personal belief that tribes burning small amounts of their tokens is a good thing goes back to one of Satoshi Nakamoto's forum postings:
Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.
People are a lot more savvy in 2022 than 2011 so losing keys isn't as common. The most practical way to recreate early bitcoin folly is by consciously losing access to some tokens forever.
Posted using Hive Images