Hey people of steem,
So yesterday I wrote a post about crypto and why it is a great way to both monetize any site and engage your audience without taking away from other forms of making money. Here is the link:
But today I want to talk about buy back. Buying back is when a site buys a coin that they utilize on their site or app and then burns it to lower the total supply. This is turn will increase the price of the coin and since they are buying the coin on the market will also increase buy demand. If a site is using other means to monetize it can spend a percentage of those funds to keep buying its coin. This closes the loop of the ecosystem and if the site stays in business could perpetually increase the value of a coin.
The higher the value of the coin the more interest people might be in a site. Take steemit for example. There are a lot of people on here even when the coin is at lows but it gets crazy when the market goes up. This in turn would raise the business of the other models of revenue and increase the buy back.
For steemit there is no buy back at this time. The reaosn being the site is free to use. Which I do not want to see change but maybe we can have ads that do not get in the way or a premium service to bring in money to start a buy back system. This could go a long way with the price and additional funds could go to advertising.
What do you think?
