Well, the Burn train is yet to leave the station! It's been over 12 hours since I had the idea.
Why haven't I already burned 1000000 slothbuzz, 1000000 hive and 1000s of every other token? Well, no one is selling.
My initial plan was simple, people dump their tokens, and I buy, burn and resell at a stupidly inflated price! Rinse and repeat...
Now the main issue is there's no one selling tokens, so this leaves me with a quandary, do I make daily "burn posts" which will burn the small author rewards I receive?
OR
Do I start following curation trails, earning a very small share of the curation rewards? This is the option I'm favouring towards.
This brings me to more questions though, do I sell rewards earned from curation, and treat them with the same burn/sell ratio I intended? OR do I simply stake them all to compound rewards?
The best thing is, this could work with EVERY token! Author rewards will be burnt from all tokens collected on the author side of these posts, so following on that, I can also burn gained tokens...
People/outposts/token masters could delegate tokens so this account earns more, it could be set to follow the curation trails of certain tokens, gaining more from curation.
Then they can be burnt/sold or staked to help the overall economy of that token...
So today, I bring the "one post a week, no other actions" to 1 weekly burn report, and curation trails being followed. Let's see if this account with its tiny delegation of HP can start to build some rewards and BURN those tokens!!
Let's set it up to follow some curators for a couple of weeks and see how/where/when the account can burn tokens!
Hopefully, I remember to change this to a Burn post this time!