Quarter 3 report 2022

in LUVHBIT Communitylast year (edited)



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 - https://peakd.com/hive-159259/@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
CategoryAmountNote
Ave. daily HBIT emitted136 (147 last qtr)See Graph 1 below.
30 day ave. emitted81 (157 last qtr)See Graph 1.
Current circulating supply40,000 (30,000 last qtr)See Graph 2.
Wallets that have held HBIT3,721 (3,168 last qtr)
Wallets holding > 0 HBIT3,259 (2,805 last qtr)
HBIT Whales25HBIT 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 HBITThis 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




HBIT whale badge awarded to the top 25 HBIT holders.

Edit: added in the example of me mining HBIT and finding one BLAQ pearl.





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The rewards earned on this comment will go directly to the people( @crrdlx ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

I really like how it's evolving 😊👍🏻

😍

Thanks for the tag there, happy to be an hbits holder.

Coins have varying degrees of use, and I'm fine with that. What gets under my skin, is when projects overpromise what their tokens are capable of, what they can provide with their ecosystem.

What I love about hbits is I've never felt like I got less than expected. It feels like I'm not promised more than what you're able to offer.

Looking forward to see where this project goes as time goes on!
Thank you!

I really appreciate your words here, thanks. :)
!LUV

I just !LUV the fact that every HBIT token in existence was mined by someone commenting on Hive.

Poetic almost ;)

Yes! To me (@crrdlx), this is the #1 thing about Hivebits that I think makes it a bit different. There was no airdrop, no freebies, no dividends, no interest from staking. Bitcoin doesn't do any of that stuff. Every single one has a small piece of someone's time and effort behind it, not much, but it's there.
!LUV

Congratulations @hivebits! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You received more than 1500 upvotes.
Your next target is to reach 1750 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

Our Hive Power Delegations to the September PUM Winners
Feedback from the October 1st Hive Power Up Day
Hive Power Up Month Challenge 2022-09 - Winners List

can't believe I miss this update I'm so busy that I miss a lot of things these days gonna reblog this great work as always
!ALIVE
!LUV

@hivebits! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @caelum1infernum. (2/10)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Huh yeah thanks