The big picture of HBIT
Born 1/1/2022, Hivebits is now six months old...still a baby. The idea of Hivebits is that your effort gives you a reward. The only way an HBIT exists is by someone's action, where they purposely mine a token on the Hive blockchain.
Prior reports:
Quarter 1 2022: @hivebits/quarter-1-report-2022The introduction post is here and the About post is here. I try to keep the About page up-to-date.
Numbers
| Category | Amount | Note |
|---|---|---|
| Ave. daily HBIT emitted | 147 (114 last qtr) | See Graph 1 below. |
| 30 day ave. emitted | 157 (158 last qtr) | See Graph 1. |
| Current circulating supply | 30,000 (15,000 last qtr) | See Graph 2. |
| Wallets that have held HBIT | 3,168 | |
| Wallets holding > 0 HBIT | 2,805 (1,461 last qtr) | |
| HBIT Whales | 25 | HBIT whales are those in the top 25 of HBIT holders. See richlist here or here. HBIT badge account: @badge-126842. If you feel you should be a whale, contact @crrdlx. |
| Current Whale-of-Whales | @thatgermandude with 1196.711 HBIT | This is the largest HBIT holder, followed by @bananofarmer and @valentin86 in 2nd and 3rd. |
| % HBIT released due to users' effort: | 100% | Every HBIT represents someones conscious effort on the Hive blockchain. |
Graph 1 - HBIT emissions
Hivebits shared via the HBITbot.
Graph 2 - circulating supply
The circulating supply of HBIT. This is the amount of HBIT minted, but not necessarily in circulation. Most tokens are in Hive wallets, except for those in the @Hivebits account which are on standby waiting to be released when a Hive user calls the HBITbot.
Notes from the past quarter
Change to 3-or-fewer ! commands - After some debate and a change of plans, it was decided to go to 3-or-fewer ! commands. This rule was mostly for the LUV token, but I wanted to do it for HBIT also for consistency. The goal was to cut back on farming and abuse. I think it has helped.
The graphs above show a decrease in emission. This is not a bad thing. Rather, it's good. The noticeable spike in emission in late April was due to one or two users mass mining HBIT with fake/alt usernames. Not good.
I outlined the reasons as to why the emission drop is a good thing in the LUV quarter 2 report, but summed, cutting out bad actions and slowing emission is good because:
- Keeps the circulating supply down which supports value.
- Supports the value of the good actors' tokens by limiting the mass sales that bad actors typically engage in at some point...they pilfer in, then rug-pull out.
- Supports ideals of HBIT: your effort, your reward (not your effort using multiple usernames and alt accounts).
One per day - I'm not sure how else to say it, "HBIT can only be mined once per day." Trying more than once will simply not go through. This is part of the built-in scarcity. It happens...I've mistakenly tried to mine twice a day fairly often, because I forget, and that's okay if you do that. Yet, some folks are trying over and over and over in succession...we see it in the hbit-log on Discord. It doesn't hurt anything, it just ties up the bot for a moment and is pointless...you can only mine one per day. If you're unsure of your last HBIT mine, two options: [1] you can always check the hbit-log and search your username to find out the last time you mined HBIT, or [2] go to https://he.dtools.dev, put in your username and HBIT, search, and there's your history.
Contest to name the smallest unit - Suggestions are still being accepted up through July 3. The prize will be one half of the HBIT in the @hivebits.mine wallet. Currently it's about 90 total (so 45 as a prize). It would be nice to get up to an even 50. Get your suggestion/entry in now!
And oh! What an HBIT legend you'll become if you're the one who named the "Hivebits 'satoshi'."
Accept HBIT as a use case - I'm looking for someone to step up and sell something for HBIT. That would mark a "Hivebits pizza day"...and another immediate HBIT legend! You could simply have a buyer send HBIT to you, or you could use https://hivepay.io, which is awesome. If you do, document it and let me know!
NFT for sale - There are a couple of HBIT NFTs for sale: https://nftshowroom.com/crrdlx/gallery
Looking forward
A second mini-contest will be coming. It's a secret for now, but it will piggyback on the "Name the smallest HBIT unit" contest. The other half of the @hivebits.mine wallet's HBIT holdings will be the prize.
I try to keep busy and learn new things. I'm working on another project involving Hivebits as well. Info to come later.
And on the topic of new things...
I'm testing and fooling around with Matrix chat (often referred to as "Element", a matrix client). Matrix is basically decentralized Discord. I like Discord...it's a great tool...but I like decentralized and like trying new things. Join me at https://matrix.to/#/#luvhbit:matrix.org and we'll test and learn together.
Summary and final thoughts
HBIT is doing just fine. Keep mining. Keep stacking.
written by @crrdlx
- Check your wallet or trade HBIT at: [Hive-Engine(https://hive-engine.com/trade/HBIT) or TribalDEX or LeoDEX.
- Visit the LUVstore: LUVstore
- LUVshares/HBIT Discord: https://discord.gg/K5GvNhcPqR
- HBIT creator: @crrdlx
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