Burning the ninjamined stake would be lighting fire to $30,000,000 in market cap! - Let’s talk about it

in Ask the Hivelast year

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If you burn the ninjamined stake, it never enters the circulating supply and is lost forever. If the ninjamined stake is transferred to an account where no one owns the keys, however, we just added $30,000,000 to our market cap, just like that a 25% increase overnight.

Think about it. Burning Hive tokens is burning market cap. We need a @null-like account that can accumulate Hive but without anyone controlling the keys.

If I am thinking about it correctly, those tokens will technically be in circulation just like an account that has lost their keys, adding to our overall market cap. A higher market cap will draw the attention of more eye balls, investors, etc.

I must be thinking about this incorrectly. It seems like some sort of crypto cheat code. How am I wrong?

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I like this plan! 😎 Technically there are no burn accounts per se. We just use @null because it's been recognized over the years. If we used @null-light then it would just mean inconsistent reporting. Those in the know would say the market cap is without the tokens held in that account just like @null.

If you look at the @null account, the Hive tokens just disappear. The value is 0 even though you can see Hive has been transferred. I am not exactly sure why that is the case. Obviously it has something to do with the code.

The account I am thinking of would actually have a Hive balance, it just wouldn’t be accessible. It would technically be in circulation because if someone was able to acquire the keys to the account, they in theory could transfer the funds out. As a security backup, transfer operations could be disabled for that account.

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