The big picture of HBIT
Hivebits came after its big sister, LUV. The idea of Hivebits is your effort gives you a reward. The only way an HBIT exists is by someone's effort, somewhere at some point on the Hive blockchain. Since 9/10/2022, HBIT has been integrated into Wusang: Isle of Blaq, the World's Ultra Simple Asset Numbers Game.
Prior reports:
Quarter 2 2022 - @hivebits/quarter-2-report-2022
The 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 | 136 (147 last qtr) | See Graph 1 below. |
| 30 day ave. emitted | 81 (157 last qtr) | See Graph 1. |
| Current circulating supply | 40,000 (30,000 last qtr) | See Graph 2. |
| Wallets that have held HBIT | 3,721 (3,168 last qtr) | |
| Wallets holding > 0 HBIT | 3,259 (2,805 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, please contact @crrdlx. |
| Current Whale-of-Whales | @bananofarmer with 1,248 HBIT | This is the largest HBIT holder, followed by @thatgermandude 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.
Some quick hits:
- Graph 1 shows a couple of spikes upward, the one in August is like a recording error on my part. The first two spikes, in May, were due to a user pilfering HBIT with many alternate account names. So, the gradual decline after May was due to blocking that user and the implementation of the 3-or-fewer "!" commands that some people were using to farm tip tokens. Also, the vertical drop in September is due to the switch to @Wusang and the change to the you-must-reply-to-your-own-post rule.
- Graph 2 shows a somewhat steady rate of emission. Hivebits is still very young, it's searching for and creating its stability. All things considered, I'm pleased with this.
- The LUVstore is here. Yes, you can buy things with LUV or HBIT (as well as with other Hive-Engine tokens). Currently, it's only NFTs for sale, but maybe in the future...who knows?
Notes from the past quarter
There were a couple of accomplishments for Hivebits during the past three months.
First, the 3-or-fewer "!" commands rule was put in place. This was done to cut back on farming and pilfering of both HBIT and LUV. Almost every Hive tip token was being abused as well and other token owners have taken action to limit this. If you wish to help keep an eye on this, join the Inspectors Discord at https://discord.gg/GEBPvrJfQT.
Secondly, we got a name for the smallest HBIT unit: the quark! It was suggested by @arthursiq5, details here. The intent was to also name a symbol for the quark. Response was lukewarm, I got very busy with other stuff, and things got put on hold. I do plan to revive that endeavor in the future. The suggestions already there are still recorded and still in the mix. If anyone has a suggestion, feel free to place it as a comment on that post and you'll be in the running.
Third, the biggest thing for Hivebits was its integration with @Wusang. Wusang is an acronym for World's Ultra Simple Asset Numbers Game and the full name is Wusang: Isle of Blaq. I went with a pirate treasure hunt theme, because it's just too fun. You can read the story at that site. The game is, well, ultra simple. It's essentially rolling the dice to see if you win. Every time a command like !HBIT or !wusang or !blaq is used, you earn one HBIT as "pay" for mining effort. And, you might find a bonus treasure token, like BLAQ or even a Blaq emerald. The BLAQEMRLD is very rare...I still haven't found one myself!
To illustrate HBIT/Wusang, I just replied to myself with !blaq. Here's how it looks on the LUV-HBIT Discord in real time...
What happened? The HBIT/Wusang bot picked up the !blaq command, one HBIT was sent to me for my mining effort, a random number was generated (0.0346... in this case), and that number determines if a bonus treasure token is found. Today, I found a BLAQ pearl! The odds and numbers are all at https://wusangisleofblaq.netlify.app/pages/play.html.
Fourth, with the integration of HBIT and Wusang, I required that Hivebits be in response to your own post or comment. Read the post here. HBIT was never intended to be a tip token. It is a your-effort-earns-your-reward-token. In a way, it might be considered a self-tip token, but again, it requires your work to obtain it. No HBIT exists in the wild unless someone does something to earn it.
Looking forward
Looking ahead, I have plans for a few more, even more extremely-rare bonus treasure tokens for Wusang. However, those are on hold. Each token costs real money and I've spent enough already! Still, maybe one day.
Summary and final thoughts
HBIT is doing just fine in my view. I think the integration into Wusang is a good thing.
People ask, "What's the use case for Hivebits?" My answer is, "HBIT is for fun, it's for learning about Hive and the blockchain and trading on the open market. And, it's about whatever use you in the community come up with.
Idea: sell something, anything, and accept HBIT as payment. I'm looking for that Hivebits pizza-day moment!
For now, there are treasure tokens like Blaq pearls, gold coins, and emeralds out there to be found. Read about @Wusang to learn how to find them.
written by @crrdlx
Edit: added in the example of me mining HBIT and finding one BLAQ pearl.
- 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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