Hi fellow Hiveians,
Today I wanted to put my money where my mouth is with these damn bot tokens!
I posted a few months ago about how the bot commands and tokens are really getting out of hand. Well, I was trying to think of additional ways I can make changes to help myself as well as others in the community in the fight against the bots!
This change seems a little counterintuitive though, in some regards but I think it's a positive step if we could get more people to do it perhaps!
I started to burn the spam tokens from the bots!
There are so many different tokens out there, it's hard to keep track of. That's just in the Hive ecosystem, nevermind in crypto overall and in general! Damn, crazy stuff. One of the areas that I have been a little annoyed about is my wallet in Hive Engine. I use the HiveTasks website to help me manage my tokens on Hive Engine by doing a bulk stake action. It's really super helpful to be able to do that! I don't want to stake each one individually and have to click stake, wait for the page to refresh and then go onto the other one. I ain't got time for that shit!
With the bot comments and tokens sloshing around like a melted slushie, I was noticing that the number of tokens I could stake every month was increasing, and that was a little bit annoying but I guess in a good way.
What I decided that I would do, so that I can reduce the number of tokens that I'm trying to scroll through and figure out if I want to stake or not, is to start getting rid of the tokens somehow. I could certainly have sent the tokens to an alt account or something, so that I don't lose out on the tokens altogether but I figured that was also a bit more time than it was worth, especially for some of these with a really low market cap. Time is money!
I figured out that I should actually do something that not only helps me keep my token wallet a little bit cleaner and less cluttered, but I would also help the tokenomics of these things a little bit as well!
I started to burn all these damn tokens! LOL. I don't usually burn things, because I could use most of the things that I can get when it comes to these things. The various tokens that are coming out though are things that I will likely never use, sell or do anything with. I often can't spend the time researching and doing all kinds of work to figure out if a token is worth keeping, as that takes more time than one would think. I like to visit the page, see the posts, ideas, and the various directions that they are going in. Right now I don't have time for that so burn it is!
I was talking with someone a few weeks ago and mentioned that I was going to burn some tokens. They thought that it was disrespectful that I would do such a thing! I didn't think so, so I made sure to explain what exactly "burning" a token really means, because some people might not know what the heck that is, or why that's even done. After I explained it, the person was actually a lot more understanding of the activity of burning a token!
For those that may not know, "burning" a token means that you are sending the token to the account "null" or some other account that you know isn't going to do anything at all with the token. Sending it to null is the easiest, because nobody is going to log in with the account null. I don't even think the null account is even possible to log into it, but I guess that's a deeper question for someone who has more technical knowledge of the blockchain many of us call home.
What sending these tokens to Null does, since they are now in an account that will never do anything with them, is reducing the circulating supply by that much more. This helps, even if it's just 1 token, that is 1 less token that will ever be bought and sold on the market. I know that some may think that's foolish but I'm not interested in these bot comment tokens for the most part, so I figured I could help out the community that uses them even if it annoys me haha. I removed from circulation a decent number of tokens!
I don't know if anyone else will be doing such a thing, but it would be cool to start a little trend amongst the people who dislike the bot commands and tokens. Send them all to null! :D
If anyone doubts that I did it, just go visit my Hive Engine page and see the transactions for yourself! These all went to null!
-CmplXty. Real human written content, never AI.
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