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RE: Steem experiment: Burn post #104
As explained by the rules, when SBD is valued above 1 USD, the rewards are traded from SBD to STEEM and powered up as a holding state for future burning. In the mean time, the SP is delegated to anti-abuse programs including @mack-bot and @broombot. Once SBD is valued at 1 USD or below, the SP will be powered down and burned. No funds will ever leave the account under any conditions except to be burned.
Well I only have to trust your good intentions since there is nothing on the history that can back it
You are correct. I wish we had some greater degree of programmability of the blockchain so that simple contracts like this could be enforced with code. But we don't.
I could easily create a fully automated script that posts daily, delegates 100% split between to your desired projects, powers down when SBD is below $1, buys SBD with powered down steem and burns it.
Couple of hundred lines of code, get utopian to verify it's integrity, easy. Send me a message if you're interested.
That's a different matter. I could do that too and I've written many programs to interact with the Steem blockchai before.
The comment above was referring to the fact that the intended usage is not enforced (as it would be with a smart contract). If I wanted to I could run off with all the funds. That would still be the case with a script.