Help reduce HIVE inflation!

BURN SOME HIVE TODAY!

To meaningfully reduce inflation, it would be helpful if 275,000 users could burn about 1.37 HIVE per month. We might then be able to reduce inflation on Hive by 1% or -86,700 HIVE per week.

This is a revised estimate;

275,000 users × 1.37 HIVE/month = 376,750 HIVE/month burned
376,750 HIVE/month ÷ 4.345 weeks ≈ 86,700 HIVE/week burned

If we all work together to reduce the Hive supply then you don't have to burn a lot of Hive by yourself. Just vote on this Burn Barrel! Rewards will be sent to @null, reducing the supply of Hive and increasing the value of the rest of it. If you have never done this, try it out for yourself.

Write a letter and burn the rewards.

Let's light up this barrel and see how much Hive we can burn.

Upvote this post, then write your own BURN post and drop the link below!

1 burn-barrel-post-vote-to-burn-some-hive = 0.136

2 burn-barrel-post-vote-to-burn-some-hive-again = 0.371

3 burn-barrel-post-vote-to-burn-even-more-hive = 0.299

4 burn-barrel-post-vote-to-burn-even-more-hive-again = 0.143

5 burn-barrel-post-vote-to-burn-hive-in-the-barrel = 4.761

6 burn-barrel-post-vote-to-burn-hive-in-may = 0.632

7 burn-barrel-post-vote-to-burn-more-hive-in-may = 0.297

8 burn-barrel-post-vote-to-burn-more-hive-in-may = 0.180

9 burn-barrel-post-vote-to-burn-barrels-of-hive-in-may = 0.866

10 burn-barrel-post-vote-to-burn-hive-in-june = 0.531

So far we have burned 8.216 HIVE with this series!

If we burn 1.37/HIVE each month, we can help reduce the Hive supply by 16.44 HIVE/year. If more than 20,000 users participated in this, it could remove ~328,000 HIVE from the supply each year. To achieve a 1% reduction in the annual supply using user Burns, we would each need to burn 19.91 HIVE per month. Realistically, one person burning 8.216 HIVE over 3 months is negligible. However if thousands of us start to do it, just by posting a Burn post once and a while, the effect would compound and start to meaningfully reduce the inflation rate.