I made this account and started monitoring burning HIVE token about half a month ago. We have already enough time to see that we are not doing very well with this task. I was not the only one who started to post burning post, and there are some who are doing this from a long time, among them the only one who is burning noticeable amount of hive: @buildawhale from @themarkymark.
But we are not getting votes that could do the work - burn a lot of tokens. The Marky Mark alone is burning about 4,-4,5k HBD (and adequate amount of HIVE) monthly, and all other accounts not even 100HBD. Daily it is about 120-150 HBD, so with hive token it will be lets say 300HBD daily, and 9000HBD monthly, it could look like a lot, but lets see this with the proper perspective.
In the same time we are burning, other are producing:
Proposal mechanism is producing (in September) not less then 6260 HBD DAILY. So we (mainly ppl voting for posts/comments from one account...) are reducing not even 5% of what is produce as an additional inflation by Proposal system. It is to little to give us hope that we could at least check if this is changing anything or not. Lets add to this calculation HBD produced by interest (in last month we produced this way 103k HBD) and we will see that what we burn is just a little drop in the ocean...
I was think why people of Hive do not take part in burning initiatives even when it cost them nearly nothing. I can imagine 3 reasons, and I wonder if you could think of another, and also which of them is most important in your opinion, so lets make poll:
- All of the "burners" failed to reach the broad masses, so people just dont know about all of this, don`t know that they can vote for posts like this, nor why they should.
- Second option is that we was able to reach to lot of people but they don`t agree with us that burning tokens is good for our community and for them in long perspective.
- People just want to earn some money now, and they do not care about future of our blockchain.
The question is which of this reasons is most important it is obvious that there are many of them and non of them is the only one.
You can't really expect people to throw away their money. It's going to be a micro minority no matter what. Plus most people only care about their money and not the bigger picture.
I agree. That's why I am not expecting that a lot of people will add null as beneficiary. But to cast one vote, daily, on post that is doing this wouldn't hurt income of this who cast this votes...
I support what you are doing and I support burning some author rewards. I do 5% to null and of course it is only a tiny dent but I feel good to at least be doing something. Everyone else has the right to do whatever they want with their money. I write about burning tokens now and then, trying to get the word out so people can at least know that it is an option.
Let's keep going and see what happens!
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Burn where it counts: DHF funds.
Can you elaborate or send link to explain more what do you mean?