Many of you probably remember the SBD Potato from Steem, which was the topic for many posts, debates, and although some saw some value in this initiative, some didn't. From my knowledge the whole thing was initiated to make SBD $1 again... I really have no clue what would that imply but, hitting the trending page over and over for that, which is actually our cover and holy image for new users, made me mute that account.
Burning tokens is a practice known in the entire crypto space, and from what I know, Binance burned some BNB as well at some point. The burning purpose must be different for every project but, with this post related to HIVE I thought I should #askthehive if wouldn't be nice, and really helpful for some hivers around the world, if the intended burning HIVE would instead be donated to some needing users?
I won't point any user or Hive project in here that is burning tokens, for whatever reason he/it does that, because it is not a dedicated post to that topic but, there are certainly a few doing that, from what I know declining payouts also burns tokens, and I was thinking what if they wouldn't burn it. Probably that their reason is a noble one, and for sure they can afford doing that(I don't) but, there are folks in here that would greatly appreciate some liquid HIVE to pay them for whatever one needs to survive during these uncertain times. We don't have equal pockets.
It is crystal clear for me that Hive has a highly diversified user base and what 1000 HIVE represents for one, is totally different for another. Hence the value of the token is highly subjective if you ask me. On the open markets it is currently valued at around 32 cents but, in the real life, outside of a blog and blockchain based social media platform, 32 cents or a few dollars, weigh different in every users pocket.
The way I see it, the financial crisis hasn't even started, and who knows how bad it will be and how many people will suffer from it. The poor ones of course, not the oligarchs who created it. Hence having a great project as Hive is, and the option to feed a family or two, with a few HIVE tokens, wouldn't that be a better option than burning it? From my point of view it does, and as a side note, HIVE managed to fuel my fridge for the last month and hopefully will do that for many months to come.
NO, I AM NOT WRITING THIS POST AS A DONATION CALL FOR MYSELF, THAT SHOULD BE CLEAR. I am doing fine, and I am grateful for my life but, I am sure that there are probably enough people around here that would really need some financial help, and donating HIVE instead of burning it(for whatever reason or way it's being burned), to the ones that are struggling for basics necessities would really make a difference. You don't know how that feels unless you've been in that situation.
Now the question is: to whom could one donate his/her Hive that was initially supposed to be burned(for whatever reason)? Personally I don't have any user in mind now but, I met recently @papilloncharity that commented on one post of mine yesterday and said that he is helping poor people through charity. Hence if someone would be inclined into donating HIVE instead of burning it, feel free to contact @papilloncharity. See what the project is about, whether is it worth it, and decide for yourselves if you would donate HIVE instead of burning the tokens.
Another mention that I want to make for this post is that I'm not endorsing @papilloncharity for anything and neither want to promote this project, thus if you decide to donate anything it's your decision. My intention with this call is to ring a bell over burning HIVE and the possibility of donating it and not to mediate anything or anyone. It's just an example for a possible donation for someone who would take into consideration my idea.
I will say again that I don't personally know anyone who would need such donations but, I am sure there are cases on the platform, and if anyone reading this post feels like donating HIVE instead of burning it I would encourage such person to do that. Also, if there are users that feel like they would need some donation during these awful times feel free to comment on the post and hopefully we will connect the people who need such donations with potential donors.
I mentioned many times in the past, and will do that again, by saying that a crypto project's real use case and utility in the world is what actually gives it value, and not its market valuation. Hive currently, in my opinion, is one of the few, PROVING its use case, for hivers all over the world, and in my opinion it has a great potential do more than it's currently doing, and that's worth more than 30 cents. That's how I see the financial freedom that crypto is being praised about becoming real and palpable. A bread on the table makes much more sense than a token on a wallet, or an ideology that is being thrown around for years in the crypto space. In the current times of financial turmoil this is how I see cryptos changing something actually for us.
So... Would You Rather Donate HIVE Instead of Burning it?
Thanks for attention,
Adrian
Well, I think both options are completely different in their objectives.
burning promotes scarcity while donating is providing help to others, however, I think that burning gives very little value to the whole ecosystem while donating can sustain it.
@tipu curate
+1
Upvoted 👌 (Mana: 24/30)
You're right. One can't say that either option is superior. If I were in the position to burn tokens and would know that there are cases who would benefit from these burned tokens I would choose to donate.
For me that is kind of the same, it’s still gone...
It's not really the same because when you burn it it creates scarcity as @toofasteddie mentioned but not helping directly anyone.
Donating to the people like a new user will be worth it, so that they can kick start their journey as soon as they land on Hive.
I was thinking actually to some that need for groceries and paying bills, not every new user. There are probably plenty of new ones that have decent finances and I wouldn't donate to them.
How would you know who is authenticate and who is not?. That's the problem when you don't know someone personally.
I would go on intuition.
One of the most attractive thing about the platform has been the sharing and caring of users. Instead of changing some digital states on an ledger, would love to see more eusocial behavior, where everyone benefits.
For beginners it is a big thing to get attention, similar-minded friends and surely the limited allowed actions can put people off. Donation might help with that, would prefer some built-in though.
The value of an token being in an "free" market, the supply does not effect too much. BTC halvings as an obvious example. With an dPOS system, there could be potential for an GIVE instead of an HODL mentality.
I believe that we can do more about the sharing and carrying, and although we might risk that carrying to be abused it's still worth trying.
Spre deosebire de tine eu nu inteleg cum functioneaza aceste lucruri si nu inteleg ce inseamna, in acest context, "burning". Poti sa ma ajuti?
Nici eu nu inteleg acest proces in detaliu dar putem spune ca prin arderea unor tokens pur si simplu le arzi, le distrugi, le scoti din circulatie pentru totdeauna si in felul acesta reduci stocul.
Asta am inteles, dar cum se ard? Care este procedur adaca vreau si eu sa ard?
Pe Steem din cate imi aduc aminte se trimiteau la @null
Da, imi aduc aminte ca am vazut cateva postari despre asta. Multumesc!
Daca nu se face ceva coordonat nu cred ca are efect. Ar trebui sa fie o actiune la care sa participe toti si sa arda un procent din ceea ce detin, nu stiu, 1 - 5%. Nu cred ca este posibil.
POSH:
A great thank you for the mention here.
@papillon is indeed a verified charity and legally registered in South Africa. The blog on Hive belongs to the charity.
The charity has a board of members (all volunteers) and a free independent annual auditor. Registered in 2002, we can certainly do with all of the help that we can get.
Thank you once again for the mention.
Blessings!
That's great. Hope the mention will help somehow.
Same as you, one never knows what awaits us my friend.
All that both of us can do is to keep on trying and to never give up.
Thank you once again 🙂
You welcome!
😀 ✌️ 💪
If one hungry child gets food because of a donation instead of a burn.
There is nothing to debate, for me.
Exactly my point.
I don't really get burning tokens. What's the point of having an inflation pool if you aren't going to use it? If you want to promote scarcity, reduce the inflation rate.
Quite obvious, right...