Another use case for HBIT
A user recently contacted me asking about the LUV token and noted that he had only one. I gave him nine of my own so that he then had 10 and could freely give one per day to someone else. This morning, he contacted me again saying he only had one LUV. Umm...blockchains are open and transparent, I gave you nine a few days ago, and you actually now have 12.
After giving the nine LUV, I let him know his status of having 10, etc. Still, I got the message this morning of "Only 1 luv." Seems clear that either this person is using my generosity disingenuously or he really doesn't understand how to check his wallet. I think this person is a somewhat new Hiver, so I don't want to beat him up over this. Time for some education on Hive, and on not trying to use others, and on not begging, and in the fact that you'll always get much farther by your own work and effort as opposed to lazy shenanigans.
And, it was time for some self-education. Note-to-self: everyone on the internet is not 100% honest. Or, maybe they're just pretty clueless. PEBCAK errors are very real.
What really stuck out to me is that, along with his 12 LUV, he also had 6.3 Hivebits (HBIT). The only way HBIT exists "in the wild" is because someone has mined it. This meant that for several days he's been mining Hivebits. Or, he's savvy enough to buy HBIT on the Hive-Engine market from someone who has mined it. Or, he somehow had it given to him from someone who has mined it.
A quick check on an H-E explorer shows, yep, he's mined HBIT seven times. Given the 90% ratio awarded to miners, that would equate to exactly 6.3 HBIT. Hmm, math works! I'm thinking this user does not fall under the technologically clueless category.
Anyway, it suddenly occurred to my squirrel brain that, right here, there's another use case for HBIT. Hivebits can be mined daily (one-per-day). Like any other token on Hive-Engine, it can be bought or sold easily. If that user really wants more LUV, he could mine-then-sell his HBIT, then buy LUV. Easy.
What's more, HBIT is currently trading at a higher price than LUV. If a Hive user really wanted to commit to it over a year, 365 HBIT mined-then-sold-then-flipped-to-LUV might actually get that user close to "LUV Legend" level*. ( *LUV Legend level is currently set at 500 LUV, but it will likely soon increase.)
I drew the animation below when HBIT began on 1/1 to illustrate how a Hiver might go from mining Hivebits to acquiring Bitcoin.
It is possible to do what the gif shows, but more practically, moving from mining HBIT to acquiring another Hive-Engine token would be much easier. And there it is, a very practical use case for HBIT: Hivebits can be easily mined in order to acquire other tokens.
HBIT also teaches lessons...like, don't beg and misuse others' generosity.
How to mine HBIT? See https://peakd.com/hive/@hivebits/about
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<><
Just finished reading that Hivebits about. I am now in the process of revisiting dapps and tokens on Hive. And as I have been analyzing how these tipping token works, I reviewed the article posted by @savvyplayer. Only then that I saw this HBIT tipping token. I want to add it as my fourth tipping token.
You displayed commendable patience and understanding there.
Appears easy to be a legend in LUV. Unlike in Splinterlands, very difficult to obtain legendary cards.
!gif lol
Via Tenor
!hivebits
Thanks for reading and promoting my post about the list of Hive Engine tip tokens.
Have a !PIZZA.
No, thanks for the list. It now serves as a guide to a forgetful man.
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Still, I got the message this morning of "Only 1 luv." LOLOLOL! It is just so hard to be nice and spread some luv in the community. 😏🤭
🥦 !LOL !BBH 🥦
lolztoken.com
The A-gull and B-gull weren't quite right.
Credit: reddit
@crrdlx, I sent you an $LOLZ on behalf of @mizuosemla
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (1/6)
!hivebits are nice
Psst. Does !luv mine in lowercase too? Or pizza for that matter. I know hivebits do, at least I think so. Yesterday I did lowercase and they didnt send a reply - out of juice perhaps?
!LUV is uppercase. I debated upper or lower for hivebits then decided lower because it's easier on a phone, I think.
!hivebits
I see
If I need to type something in uppercase, I just press the
Shiftkey twice on my phone's keyboard to start typing continuously in uppercase (and just press theShiftkey again once to return to normal case). 😏!GIF keyboard
View more
There are plenty of people who will try to get something for nothing, but we sort of get that with some tokens anyway. There are definite opportunities if you play the markets.
!BEER
View or trade
BEER.Hey @crrdlx, here is a little bit of
BEERfrom @steevc for you. Enjoy it!Do you want to win SOME BEER together with your friends and draw the
BEERKING.Very Educative and I never knew about hivebits
Maybe he meant he can only gibe away one LUV...
I think it is better to assume he is just new and maybe has not the english skills to understand.
Speaking of ill intentions , have you thought about a way to detect multiple account usage? HBit is getting to the levels where it might be worth to commit some fraud.
This is something that causes my sleep to diminish by minutes. Right now, it relies solely on eyes watching. If anyone sees any bad actions, please let me know. There is a block list that can put to use. !LUV
@crrdlx(2/5) gave you LUV.
H-E tools | connect | <><
Given the current emission rate of LUV pushing 500/day, increases to required LUV levels will likely be forthcoming.
$WINE
Congratulations, @theguruasia You Successfully Shared 0.100 WINEX With @crrdlx.
You Earned 0.100 WINEX As Curation Reward.
You Utilized 1/3 Successful Calls.
Contact Us : WINEX Token Discord Channel
WINEX Current Market Price : 0.360
Swap Your Hive <=> Swap.Hive With Industry Lowest Fee (0.1%) : Click This Link
Read Latest Updates Or Contact Us
PIZZA Holders sent $PIZZA tips in this post's comments:
penyaircyber tipped crrdlx (x1)
rzc24-nftbbg tipped luvshares (x1)
savvyplayer tipped rzc24-nftbbg (x2)
lolzbot tipped rzc24-nftbbg (x1)
@savvytester(4/5) tipped @rzc24-nftbbg (x8)
rzc24-nftbbg tipped savvytester (x3)
Please vote for pizza.witness!
!WINE
Congratulations, @zirky You Successfully Shared 0.100 WINEX With @crrdlx.
You Earned 0.100 WINEX As Curation Reward.
You Utilized 1/1 Successful Calls.
Contact Us : WINEX Token Discord Channel
WINEX Current Market Price : 0.360
Swap Your Hive <=> Swap.Hive With Industry Lowest Fee (0.1%) : Click This Link
Read Latest Updates Or Contact Us
Very insightful post, keep it up!
!hivebits
Because this is such an awesome post, here is a BBH Tip for you.
. Keep up the fantastic work
Thank you
!LUV
Send you !PIZZA
and mine !hivebits
:)
@penyaircyber(1/4) gave you LUV.
H-E tools | connect | <><
Given the current emission rate of LUV pushing 500/day, increases to required LUV levels will likely be forthcoming.
Hivebits blends Hive's blockchain and Bitcoin's ethos. Your effort = your reward. Mine HBIT simply with ! hivebits (no space), 1-per-day.
Success! You just mined .9 HBIT and the user you replied to received .1 HBIT on your behalf. You can receive 100% of the HBIT by replying to one of your own posts or comments. Or, support Hivebits at official HBIT mine | your wallet | market | tools | connect | <><
Confirmation replies are currently on, but they'll go off when Resource Credits (RCs) get low. Your hivebits command will still go through and you'll get your HBIT.
Inches and miles. (Sigh... humans.)
!HBIT