Burning on the Backside

in #burn10 months ago

HIVE will fall until it finds a bottom. That is just the way things work.

The best thing that HIVE authors can do at this time is to write and upvote burn posts. The burn posts will reduce the amount of liquid rewards hitting the street in seven days time which might help rise the depth of the bottom.

You can write a burn post on PeakD by selecting "Burn" for the "Rewards Distribution" prompt in the "Advanced" options section of PeakD. This option is only available in some of the HIVE interfaces.

As I understand the burn option will only burn the author portion of the rewards.

Since burn posts burn the author rewards, I believe that this is okay to include multiple coins in a burn post. I added six coins to this post.

I don't know how the burn affects the alt coins. Most of the coins use SCOTBOT. Some of the coins use their own custom code for distribution.

One of my frustrations with HIVE is that we do not have documentation that explains the details of the operation. Of course code is king. Users have to figure things out by trial and error.

If you write a #burn post and receive coins for it, you should be a good netizen and burn the rewards.

"burn posts" can be a big scam. A post might "burn" the leo rewards ... but secretly keep the HIVE rewards.

Personally, I would only upvote burn posts that show the little burn icon next to the rewards section on in PeakD. This link shows Burn Post on PeakD.

I am not sure how upvoting burn posts affect curation rewards. I believe that the action only affects the author's side of the upvote and not the curator. Does anyone know the answer to this burning question?

Code is king. The users have to figure things out by trial and error.

Lets Burn It All

I would love to see a dozen burn posts today.

Publishing burn posts when HIVE is falling can help the system find its bottom because the burn posts will reduce the liquid HIVE hitting the streets in seven days time.

The power down feature means that there will always be a seven day lag in the response to market events. So we always have to wait a week to see how a major move in the market affects the day to day users.

If you are looking for something to write today, I suggest dropping a burn post. They have a beneficial affect of reducing the float of each of the coins.

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I saw some of posts the include #burn but Really till now I dont understand , maybe it's some thing economically , it's hard for me ..

I saw some of posts the include #burn but Really till now I dont understand , maybe it's some thing economically , it's hard for me ..

HIVE is a fungible token. That means the price of all HIVE is the same and trades at the same price.

The price for HIVE is determined by the amount of HIVE that is floating on the market at a given time.

The price is currently falling because the float of the coin is larger than the limited number of buyers can absorb.

There are two ways to reduce the float. Powering Up locks the HIVE in HP for a given amount of time. Burning floating tokens eliminates the coin for every.

If you go to CoinGecko.com and look at the price of HIVE; you will see figures saying the price of HIVE and the market value

https://www.coingecko.com/en/coins/hive

When I looked the price was $0.77 and the market cap was $287,461,176. Powering up does not reduce the market cap. Burning actually reduces the market cap by the amount burned.

Why do people feel like burning is a good idea?

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Why do people feel like burning is a good idea?

Burning is a bit like a stock buy back. It reduces the amount of a token on the market. Burning reduces the amount of the token on the market.

Prices of tokens fall when there is too much of the token on the market. Burning while the price is falling makes sense because it will reduce the float and help the market find the bottom.

A rising price means that there is greater demand for the equity. Burning on the upside increases the height of the peak.

From a price stand point, I think company should buy back the stock and crypto should burn coins when the price is falling, but not when it is rising.

From a Curator's PoV.

I read all of the posts before I upvote. I sometimes find myself in a situation where it's 3:00 AM and can't find posts that I want to upvote and end up voting on stuff that I otherwise wouldn't.

I wish that there were standing burn posts; I could upvote those rather than upvote lower quality posts.

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