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RE: How much burned by the burn posts in July?
This has become my understanding, developing from long consideration of the token burn mechanism purported to reduce inflation. Inflationary currencies promote distribution, as Ben 'Helicopter' Bernanke has demonstrated. Hive's primary impediment to increased value isn't it's inflation, but rather it's lack of adoption, which token burning discourages.
0E-8 BEE
Lack of adoption is an interesting one.
Inflation is a glacier. We have a reward pool, so think of a pool of water. Voting is like draining that pool, forming a river. Near the banks of the river you have several whirlpools, holding the water. The rest continues to flow downstream. Some escapes the whirlpools and flows downstream. Some might find itself in another whirlpool for some time. Eventually, all the water reaches the waterfall.
So yes. We've created a scenic river many enjoy. Letting everyone play in the water has been/could be an attraction.
Adoption stops at that waterfall. We've not built a dam there to harness the energy. There's a big lake forming down there and nobody wants to swim in it. All that water or rewards got dumped over the edge.
Get people to play in that pool, way down there, and we've once again established adoption.
They will carry that water back to the pool, as they're buying it to support the products creating the waterfall. Precipitation. Now you have mass adoption.
Majority of those playing in the river right now have no clue what I'm talking about. The glacier is melting away.
Burning doesn't inhibit mass adoption, due to lack of rain. It's just preventing a small amount of water from escaping one of the many whirlpools.
Something like that...
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